SBA COMMUNICATIONS CORP

SBAC

Quality scores

Data as of Sep 5, 2026

7 / 9

Strong

7/9 — SOLID fundamentals (high quality).

PassROA > 0 — ROA last year = 9.10 %
PassFCF > 0 — FCF last year = 1,066.51 mill.
PassFCF > net income (accrual quality) — FCF 1,066.51 vs. net income 1,053.63 (mill.)
PassRising ROA — ROA 9.10 % vs. prior year 6.56 %

PassLower long-term leverage — long-term debt/assets 0.95 vs. prior 1.09
FailRising current ratio (more liquidity) — Current ratio 0.29 vs. prior 1.10
PassNo dilution (shares do not grow) — Shares 105.67 mill. vs. prior 107.56 mill.

Z-Score (original)

0.29

Distress zone

Z''-Score (non-manufacturing)

0.60

Distress zone

Ratio	Value
X1 — Working capital / Total assets	-0.16
X2 — Retained earnings / Total assets	-0.63
X3 — EBIT / Total assets	0.12
X4 — Market cap / Total liabilities	1.23
X4 — Book equity / Total liabilities	-0.30
X5 — Sales / Total assets	0.24