What is Sba Communications Corp worth?
With the base-case assumptions below, a discounted cash flow model on Sba Communications Corp's reported free cash flow gives $77.85 per share. The share price was $190.35 on November 9, 2026, 145% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 1.0% | 10.0% | $3.41 | -98% |
| Base | 6.0% | 9.0% | $77.85 | -59% |
| Bull | 11.0% | 8.0% | $216.81 | +14% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $131.44 | $147.80 | $167.79 | $192.78 | $224.91 |
| 8.0% | $91.45 | $102.06 | $114.60 | $129.64 | $148.03 |
| 9.0% | $62.23 | $69.48 | $77.85 | $87.61 | $99.15 |
| 10.0% | $39.96 | $45.12 | $50.96 | $57.65 | $65.35 |
| 11.0% | $22.45 | $26.23 | $30.46 | $35.21 | $40.60 |
Where the presets come from
Base: years 1 to 5 grow at Sba Communications Corp's revenue growth rate over the last 5 fiscal years (6.2% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions