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 $78.56 per share. The share price was $166.15 on September 25, 2026, 112% 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% | $4.12 | -98% |
| Base | 6.0% | 9.0% | $78.56 | -53% |
| Bull | 11.0% | 8.0% | $217.51 | +31% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $132.15 | $148.51 | $168.50 | $193.49 | $225.62 |
| 8.0% | $92.16 | $102.77 | $115.30 | $130.35 | $148.73 |
| 9.0% | $62.94 | $70.19 | $78.56 | $88.32 | $99.86 |
| 10.0% | $40.67 | $45.83 | $51.67 | $58.35 | $66.06 |
| 11.0% | $23.16 | $26.94 | $31.17 | $35.92 | $41.31 |
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