SBA Communications Corp.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $1.05B | $749.5M | $501.8M | $461.4M | $237.6M | $24.1M | $147.0M | $47.5M |
| Depreciation & Amortization | $292.3M | $269.5M | $716.3M | $707.6M | $700.2M | $722.0M | $697.1M | $672.1M |
| Depreciation | $131.8M | $116.3M | $272.3M | $274.0M | $271.8M | $287.0M | $281.6M | $269.2M |
| Amortization | $115.1M | $107.1M | $397.0M | $406.0M | $411.9M | $434.4M | $415.2M | $402.6M |
| Stock-Based Compensation | $75.7M | $74.4M | $87.9M | $99.9M | $84.4M | $68.9M | $73.2M | $42.3M |
| Net Cash from Operating Activities | $1.29B | $1.33B | $1.54B | $1.29B | $1.19B | $1.13B | $970.0M | $850.6M |
| Investing Activities | ||||||||
| Capital Expenditures | $224.8M | $228.1M | $236.7M | $214.4M | $133.7M | $128.6M | $154.2M | $149.8M |
| Business Acquisitions | $1.06B | $299.8M | $130.0M | $1.18B | $1.26B | $271.4M | $774.0M | $451.8M |
| Net Cash from Investing Activities | $-601.8M | $-809.3M | $-468.2M | $-1.39B | $-1.42B | $-446.4M | $-947.2M | $-618.3M |
| Financing Activities | ||||||||
| Dividends Paid | $479.0M | $424.2M | $370.0M | $306.8M | $253.6M | $207.7M | $83.4M | — |
| Stock Repurchases | $497.8M | $200.0M | $100.0M | $431.7M | $582.6M | $859.3M | $467.0M | $795.6M |
| Net Cash from Financing Activities | $-1.66B | $645.7M | $-1.02B | $-135.5M | $339.3M | $-469.0M | $-62.3M | $-148.5M |
| Net Change in Cash | $-963.6M | $1.15B | $61.7M | $-246.3M | $92.8M | $201.7M | $-37.2M | $74.0M |
| Free Cash Flow | $1.07B | $1.11B | $1.31B | $1.07B | $1.06B | $997.5M | $815.8M | $700.8M |