SBA COMMUNICATIONS CORP FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $244.5M |
| Gross margin | — not reported |
| Operating income | $298.9M |
| Net income | $370.3M |
| Diluted EPS | $3.47 |
| Cash & equivalents | $264.6M |
| Total assets | $11.6B |
| Long-term debt | $12.9B |
Key takeaway
SBA sold all towers in the Philippines and Colombia and substantially all Canadian operations during 2025, narrowing its international footprint to the U.S., Brazil, Guatemala, and other Latin American/African markets.
🔒 4 more takeaways in the full analysis
Beneath the surface
The stated $244.5 million revenue figure conflicts with other XBRL data showing cost of revenue of $691 million and gross profit of $2.12 billion, implying actual total revenue is closer to $2.8 billion — the headline figures appear to reflect a partial or mislabeled dataset rather than full-year consolidated results.
🔒 4 more insights a headline reader would miss
This is the free preview. The full analysis explains every line item above and includes 8 more findings — plus insider trades, activist stakes, and 8-K events for SBAC.
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