SBAC
Market read
The latest filing evidence is available. 0 of 3 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.
Invalidation: The isolated read changes if SBAC's group or a disclosed connection begins moving with it.
Research brief
The latest filing evidence is available. 0 of 3 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.
Company research
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
“Revolving Credit Facility The key terms of the Revolving Credit Facility were as follows: Interest Rate Unused Commitment as of Fee as of June 30, 2026 (1) June 30, 2026 (2) Revolving Credit Facility 5.110 % 0.190 % (1) The rate reflected includes a 0.050 % r…”10-Q · Aug 6, 2026 ↗
“Items Measured at Fair Value on a Nonrecurring Basis — The Company estimates the fair value of assets subject to impairment using a discounted cash flow (“DCF”) (Level 3 input) analysis.”10-Q · Aug 6, 2026 ↗
“For the years ended December 31, 2025 and 2024, we recorded an $81.6 million gain and a $156.8 million loss, net of taxes, respectively, on the remeasurement of intercompany loans due to changes in foreign exchange rates.”10-K · Feb 27, 2026 ↗
“A portion of the activities that support our business involve collection, storage, and transfer of sensitive data of our employees, tenants, ground lessors, and other third parties, including residential tenants as a result of our previous data center acquisi…”10-K · Feb 27, 2026 ↗
Valuation discipline
Price/sales 7.1× · EV/sales 10.9×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
Jodie has not returned a relevant primary source or news item for SBAC. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
10-Q filed 2026-08-06 against the comparable filing from 2025-08-07.
Capital and cash conversion
Capital spending consumed more revenue while free-cash-flow margin declined.
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
“These changes were primarily due to (1) revenues from 6,791 towers acquired (including 6,789 towers related to the Millicom transaction) and 559 towers built since April 1, 2025, (2) organic site leasing growth from contractual escalators, new leases, and amendments and (3) increases in non-cash straight line revenue and reimbursable pass-through expenses, partially offset by lease non-renewals and tower divestitures.”
“This change was primarily due to (1) revenues from 7,133 towers acquired (including 7,110 related to the Millicom transaction) and 624 towers built since January 1, 2025, (2) organic site leasing growth from contractual escalators, new leases, and amendments and (3) increases in non-cash straight line revenue and reimbursable pass-through expenses, partially offset by lease non-renewals and tower divestitures.”
“During the remainder of 2026, we expect core leasing revenue to increase over 2025 levels, on a currency neutral basis, due in part to contractual escalators and wireless carriers deploying additional capacity and increasing geographical coverage, the full year impact of towers acquired and built during 2025 and 2026, and the revenues from towers expected to be acquired and built during the remainder of 2026, partially offset by increased churn primarily driven by Sprint and EchoStar.”
Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.
Business ecosystem
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
“We derive domestic site leasing revenues primarily from T-Mobile, AT&T Wireless, and Verizon Wireless.”
“We derive domestic site leasing revenues primarily from T-Mobile, AT&T Wireless, and Verizon Wireless.”
“We derive domestic site leasing revenues primarily from T-Mobile, AT&T Wireless, and Verizon Wireless.”
Filing peers
Companies whose filings use similar operating language.
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What is moving around it
SBAC is currently a Early Follower in the organic co-movement group Wireless Tower REITs. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
No durable theme membership has been observed for this name yet.