SBA Communications Q4 FY25: where the revenue came from and where it went
The whole income statement of SBA Communications for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Oct 1 – Dec 31, 2025
- Reported
- Feb 27, 2026
Revenue$0.72B
+4% year over year
Gross profit$0.54B
76% margin
Operating profit$0.30B
42% margin
Net profit$0.37B
51% margin
Net profit is larger than what operations earned, because the statement adds $0.13B below it, under Other income, net.
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 0.72 | 100% | +4% |
| Domestic site leasing | 0.47 | 65% | −2% |
| International site leasing | 0.20 | 28% | +16% |
| Development construction | 0.05 | 7% | +13% |
| Cost of revenue | −0.18 | 24% | |
| Gross profit | 0.54 | 76% margin | −2pp |
| SG&A | −0.07 | 10% | +1pp |
| Other | −0.17 | 24% | +0pp |
| Operating profit | 0.30 | 42% margin | −14pp |
| Other income, net | 0.13 | ||
| Tax | −0.06 | ||
| Net profit | 0.37 | 51% margin | +26pp |
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