Sba Communications
Sba Communications returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 15.14% | 16.34% | -30.68% | — | 8.8% | 7.4 pp |
| FY 2026 Q1 | Mar 31, 2026 | 15.35% | 15.46% | -20.73% | — | 9.18% | 7.6 pp |
| FY 2025 Q4 | Dec 31, 2025 | 14.18% | 14.5% | — | — | 9.17% | 6.5 pp |
| FY 2025 Q3 | Sep 30, 2025 | 17.82% | 14.87% | 36.05% | — | 7.99% | 10.1 pp |
| FY 2025 Q2 | Jun 30, 2025 | 18.32% | 17.13% | 42.48% | — | 8.55% | 10.6 pp |
| FY 2025 Q1 | Mar 31, 2025 | 19.91% | 17.35% | — | — | 7.98% | 12.2 pp |
| FY 2024 Q4 | Dec 31, 2024 | 18.26% | 15.58% | 41.09% | — | 6.94% | 10.6 pp |
| FY 2024 Q3 | Sep 30, 2024 | 16.1% | 13.15% | — | — | 6.68% | 8.4 pp |
| FY 2024 Q2 | Jun 30, 2024 | 14.94% | 13.22% | — | — | 5.04% | 7.2 pp |
| FY 2024 Q1 | Mar 31, 2024 | 13.7% | 11.7% | — | — | 5.41% | 6 pp |
| FY 2023 Q4 | Dec 31, 2023 | 11.64% | 9.88% | — | — | 4.83% | 3.9 pp |
| FY 2023 Q3 | Sep 30, 2023 | 12.38% | 10.38% | 14.66% | — | 4.89% | 4.7 pp |
| FY 2023 Q2 | Jun 30, 2023 | 12.24% | 10.16% | 14.81% | — | 4.93% | 4.5 pp |
| FY 2023 Q1 | Mar 31, 2023 | 10.97% | 9.94% | 18.29% | — | 3.62% | 3.3 pp |
| FY 2022 Q4 | Dec 31, 2022 | 11.48% | 9.7% | 9.17% | — | 4.53% | 3.8 pp |
| FY 2022 Q3 | Sep 30, 2022 | 12% | 10.04% | 181.18% | — | 4.15% | 4.3 pp |
| FY 2022 Q2 | Jun 30, 2022 | 11.69% | 9.51% | 534.87% | — | 3.55% | 4 pp |
| FY 2022 Q1 | Mar 31, 2022 | 10.22% | 9.14% | 53.37% | — | 4.4% | 2.5 pp |
| FY 2021 Q4 | Dec 31, 2021 | 11.67% | 8.83% | — | — | 2.51% | 4 pp |
| FY 2021 Q3 | Sep 30, 2021 | 10.14% | 8.54% | — | — | 3.15% | 2.4 pp |
| FY 2021 Q2 | Jun 30, 2021 | 9.11% | 7.69% | — | — | 2.78% | 1.4 pp |
| FY 2021 Q1 | Mar 31, 2021 | 9.91% | 7.48% | — | — | 1.46% | 2.2 pp |
| FY 2020 Q4 | Dec 31, 2020 | — | 7.35% | — | — | 0.25% | — |
| FY 2020 Q3 | Sep 30, 2020 | — | 7.25% | — | — | -0.16% | — |
| FY 2020 Q2 | Jun 30, 2020 | — | 7.39% | — | — | -0.16% | — |
| FY 2020 Q1 | Mar 31, 2020 | — | 7.33% | — | — | -0.06% | — |
| FY 2019 Q4 | Dec 31, 2019 | 7.09% | 7.93% | -28.23% | — | 1.73% | -0.6 pp |
| FY 2019 Q3 | Sep 30, 2019 | 7.17% | 7.42% | — | — | 1.67% | -0.5 pp |
| FY 2019 Q2 | Jun 30, 2019 | 6.78% | 7.6% | — | — | 1.59% | -0.9 pp |
| FY 2019 Q1 | Mar 31, 2019 | 7.48% | 7.35% | — | — | 0.5% | -0.2 pp |
| FY 2018 Q4 | Dec 31, 2018 | 7.65% | 8.34% | — | — | 0.65% | -0 pp |
| FY 2018 Q3 | Sep 30, 2018 | — | 7.76% | — | — | -0.03% | — |
| FY 2018 Q2 | Jun 30, 2018 | — | 7.41% | — | — | 0.42% | — |
| FY 2018 Q1 | Mar 31, 2018 | 6.08% | 6.76% | 107.91% | — | 1.33% | -1.6 pp |
| FY 2017 Q4 | Dec 31, 2017 | 6.12% | 6.78% | 740.14% | — | 1.41% | -1.6 pp |
| FY 2017 Q3 | Sep 30, 2017 | 5.64% | 6.64% | — | — | 1.33% | -2.1 pp |
| FY 2017 Q2 | Jun 30, 2017 | 4.81% | 6.79% | — | — | 0.5% | -2.9 pp |
| FY 2017 Q1 | Mar 31, 2017 | 4.95% | 5.6% | — | — | 0.82% | -2.8 pp |
| FY 2016 Q4 | Dec 31, 2016 | 5.07% | 5.69% | — | — | 1.03% | -2.6 pp |
| FY 2016 Q3 | Sep 30, 2016 | 4.84% | 5.07% | — | — | 1.33% | -2.9 pp |
| FY 2016 Q2 | Jun 30, 2016 | — | 4.22% | — | — | -0.51% | — |
| FY 2016 Q1 | Mar 31, 2016 | — | 4.46% | — | — | -0.58% | — |
| FY 2015 Q4 | Dec 31, 2015 | — | 4.27% | — | — | -2.3% | — |
| FY 2015 Q3 | Sep 30, 2015 | — | 4.82% | — | — | -2.71% | — |
| FY 2015 Q2 | Jun 30, 2015 | — | 5.46% | — | — | -0.87% | — |
| FY 2015 Q1 | Mar 31, 2015 | — | 5.02% | — | — | -1.37% | — |
| FY 2014 Q4 | Dec 31, 2014 | — | 4.97% | — | — | -0.33% | — |
| FY 2014 Q3 | Sep 30, 2014 | — | 4.68% | — | -58.15% | -0.61% | — |
| FY 2014 Q2 | Jun 30, 2014 | — | 4.38% | — | -1.91% | -0.08% | — |
| FY 2014 Q1 | Mar 31, 2014 | — | 3.75% | — | -5.88% | -0.45% | — |
| FY 2013 Q4 | Dec 31, 2013 | — | 3.9% | — | -11.07% | -0.84% | — |
| FY 2013 Q3 | Sep 30, 2013 | — | 3.43% | — | -20.08% | -1.41% | — |
| FY 2013 Q2 | Jun 30, 2013 | — | 3.56% | — | -35.64% | -2.89% | — |
| FY 2013 Q1 | Mar 31, 2013 | — | 3.36% | — | -37.81% | -3.43% | — |
| FY 2012 Q4 | Dec 31, 2012 | — | 3.19% | — | -56.43% | -3.55% | — |
| FY 2012 Q3 | Sep 30, 2012 | — | 3.34% | — | -70.55% | -3.25% | — |
| FY 2012 Q2 | Jun 30, 2012 | — | 3.68% | — | -46.7% | -3.26% | — |
| FY 2012 Q1 | Mar 31, 2012 | — | 3.47% | — | -48.59% | -3.04% | — |
| FY 2011 Q4 | Dec 31, 2011 | — | 3.28% | — | -82.71% | -3.61% | — |
| FY 2011 Q3 | Sep 30, 2011 | — | 2.83% | — | -72.32% | -3.88% | — |
| FY 2011 Q2 | Jun 30, 2011 | — | 2.59% | — | -54% | -3.86% | — |
| FY 2011 Q1 | Mar 31, 2011 | — | — | — | — | — | — |
| FY 2010 Q4 | Dec 31, 2010 | — | — | — | — | — | — |
| FY 2010 Q3 | Sep 30, 2010 | — | — | — | — | — | — |
| FY 2010 Q2 | Jun 30, 2010 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · SBAC, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.