Revenue distribution by sectors:

• Telecommunication towers: approx. 90%
• Services and others: approx. 10%

TOP 3 markets and their percentage shares:

• USA: approx. 70%
• Brazil: approx. 15%
• Canada: approx. 5%

SBA Communications Corporation generates the majority of its revenue from operating and leasing telecommunication towers. The U.S. market is the most significant, followed by Brazil and Canada. These markets are crucial for the company as they exhibit high demand for mobile infrastructure, leading to stable sources of income.

Production: No physical production

SBA Communications Corporation is a company specializing in the operation and leasing of communication infrastructure, particularly mobile phone towers. It does not produce physical products, but offers services in the field of telecommunications infrastructure. The company owns and operates sites mainly in the USA, as well as in selected international markets.

Revenue Growth: Estimated 8-10% annually (2025)

Strategic Focus Areas:

1. Infrastructure Expansion: SBA Communications continues to focus on expanding its mobile mast infrastructure, especially in high-growth markets in Latin America and Asia. This is intended to increase the capacity and reach of their services.

2. Technological Innovation: The company is investing in new technologies to enhance the efficiency and performance of its existing infrastructure. This includes the integration of 5G technologies to meet the growing data demand.

3. Acquisitions and Partnerships: SBA Communications pursues a strategy of targeted acquisitions to strengthen its market position and explore new revenue streams. Partnerships with telecommunications providers are also a key component of their growth strategy.

These strategic initiatives are intended to position the company to benefit from the increasing demand for wireless communication services and secure long-term stable revenues.

Main materials: Steel, concrete, copper

Countries of origin: China, India, Brazil

SBA Communications Corporation is a leading company in the field of telecommunications infrastructure, especially for mobile phone towers. Certain raw materials and materials are essential for the construction and maintenance of these towers.

Steel and concrete are the main materials used for the structure of the towers. Copper is needed in the electrical and data transmission components. These materials are often imported from countries like China and India, which are leading producers of steel and copper worldwide. Brazil is also a significant exporter of steel and provides access to other necessary raw materials.

The import of these materials depends on global supply chains and the specific requirements of SBA Communications' construction projects. The selection of countries of origin is influenced by factors such as cost, quality, and availability.

Market share: 15% (estimated, 2025)
EBITDA margin: 68% (2024)
Net debt/EBITDA ratio: 6.5x (2024)

SBA Communications Corporation has a significant competitive advantage in the mobile infrastructure sector. With an estimated market share of 15% in 2025, the company is among the industry leaders. The high EBITDA margin of 68% in 2024 highlights the efficiency and profitability of the company, indicating strong operational performance and cost efficiency.

Another advantage is the extensive portfolio of mobile towers, providing broad coverage and reliable services for mobile operators. This creates barriers to entry for new competitors and strengthens SBA Communications' bargaining power with its customers.

However, attention should be paid to the high net debt/EBITDA ratio of 6.5x. This could burden the company in times of rising interest rates or economic uncertainties. Nevertheless, the competitive advantage remains strong due to strategic positioning and long-term lease agreements with major mobile operators.

Institutional Investor Share: 92% (estimated for 2025 based on historical data)

Insider Buys/Sells: No significant transactions in the last year (estimated for 2025)

SBA Communications Corporation has traditionally had a high proportion of institutional investors, indicating the trust of large investment funds and institutional investors in the company's stability and growth potential.

In recent years, there have been no significant insider buys or sells, suggesting that management and other insiders are satisfied with the current company strategy and valuation. This stability can be seen as a positive signal for investors, as it indicates continuous support from management and confidence in the company's future development.

Market share of SBA Communications Corporation: Estimated 15% (2025)

Main competitors and their market shares:

1. American Tower Corporation: 35%
2. Crown Castle International Corp: 25%
3. SBA Communications Corporation: 15%
4. Cellnex Telecom: 10%
5. Deutsche Funkturm (DFMG): 5%
6. Inwit: 5%
7. Helios Towers: 3%
8. IHS Towers: 2%

Moat of SBA Communications Corporation:

SBA Communications Corporation has a moderate moat, mainly based on its specialized infrastructure and strategic locations. The company's competitive advantage lies in its ability to secure long-term lease agreements with mobile network operators, generating stable revenues. The geographic diversification, especially in North and South America, also strengthens its market position.

Compared to its competitors, American Tower Corporation has the strongest moat, due to its global presence and extensive infrastructure. Crown Castle International Corp benefits from a strong focus on the US market and an extensive fiber optic network that enables additional services.

Overall, SBA Communications has a solid, but not insurmountable moat. The competition offers more comprehensive services in some cases and has a greater geographic reach in certain instances, which can give them an advantage.

Revenue Growth (2024): 8.5%
EBITDA Growth (2024): 7.2%
Market Share in the Telecommunications Sector (2024): 12%

SBA Communications Corporation recorded solid revenue growth of 8.5% in 2024, driven by increasing demand for telecommunications infrastructure and continuous expansion in international markets. The 7.2% EBITDA growth indicates that the company is also operating efficiently and maintaining its margins.

The company benefits from long-term lease agreements with major mobile network operators, leading to stable and predictable revenues. Additionally, the 12% market share in the telecommunications sector is an indicator of a strong market position, further strengthened by strategic acquisitions and infrastructure expansion.

Overall, the financial performance and strategic direction suggest that SBA Communications Corporation represents an attractive investment opportunity, especially for investors interested in long-term growth prospects in the telecommunications sector.

Dividend: None (as of 2025)

SBA Communications Corporation traditionally does not pay a dividend. The company has focused on reinvesting its profits into the growth and expansion of its business, especially in the telecommunications infrastructure sector.

This strategy allows SBA Communications to strengthen its market position and create long-term value for shareholders, rather than making short-term payouts. Investors who invest in the company typically do so with a focus on capital growth rather than dividend yields.