LIVE
SBAC
SBA Communications Corporation · Real Estate
$186.87
-9.95% this month
VERSUS
⟷
COMPARE
AMT
American Tower Corporation · Real Estate
$176.05
-3.80% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
SBAC
3
AMT
2
Comparison scoreboard
SBAC LEADS 3/5AI Score
SBAC ✓39.7
AMT 39.6
1Y Return
SBAC -18.23%
AMT ✓-18.17%
Fwd P/E
SBAC ✓25.27
AMT 27.10
Target Up.
SBAC +14.80%
AMT ✓+15.47%
Op. Margin
SBAC ✓52.42%
AMT 45.91%
Metrics last refreshed: 6/20/2026
Quick take
SBAC vs AMT Stock Comparison: AI Score, Valuation, Performance and Upside
SBA Communications and American Tower are both cell tower REITs benefiting from wireless carrier infrastructure demand, but at very different scales. AMT is the global tower leader with 220,000+ towers across all regions; SBAC is smaller, Americas-focused, and known for highly efficient capital allocation with no dividend (returns capital through buybacks). Both benefit from 5G densification and global mobile data growth.
SBAC vs AMT is the Americas-focused capital-efficient tower operator (SBA Communications) versus the global tower scale leader with data center diversification (American Tower) — SBAC's smaller size and buyback focus appeal to pure-play tower investors; AMT's global scale and CoreSite diversification appeal to investors wanting broader digital infrastructure exposure.
Live analysis · updated 6/20/2026
SBAC holds the edge across 3 of 5 key metrics in this comparison. AMT has delivered stronger 1-year price return (-18.17% vs -18.23%), though SBAC trades at the lower forward P/E (25.27x vs 27.10x). On fundamentals, AMT is growing revenue faster (6.80%), while SBAC maintains the higher operating margin (52.42%) — a classic growth-versus-profitability split. Analyst consensus implies similar upside for both: +14.80% for SBAC and +15.47% for AMT.
Normalized 1Y performance
SBAC
AMT
Recent returns
SBAC
AMT
Analyst price targets & sentiment
SBAC · 17 analysts
STRONG BUYHOLDSTRONG SELL
Buy (2.1/5.0)
Price target range
analyst low$225.00
analyst high$280.00
analyst mean$235.10
current price$186.87
+14.8% upside to analyst mean
AMT
Price target range
analyst mean$216.14
current price$176.05
+15.5% upside to analyst mean
Who should consider this stock?
SBAC may suit investors who:
- →prefer a focused Americas tower REIT with best-in-class capital efficiency and no dividend (return via buybacks)
- →value SBA's disciplined approach — avoiding the complexity of India market challenges and data center diversification
- →want pure-play wireless infrastructure exposure concentrated in US, Canada, Latin America, and South Africa
- →are comfortable with no dividend income (SBA returns capital through share repurchases rather than distributions)
AMT may suit investors who:
- →prefer the global tower leader with 220,000+ towers across all major wireless markets including Africa and India
- →value CoreSite data centers as a complementary digital infrastructure diversification alongside towers
- →want REIT income from the world's largest tower portfolio with Africa and India providing long-duration growth exposure
- →are comfortable with India write-down risk, CoreSite integration complexity, and elevated leverage from acquisition activity
Performance & AI score
| Metric | SBAC | AMT |
|---|---|---|
| AI score | 39.7 | 39.6 |
| AI rank | #1133 | #1142 |
| Latest close | $186.87 | $176.05 |
| 1M return | -9.95% | -3.80% |
| 6M return | -2.14% | -1.37% |
| 1Y return | -18.23% | -18.17% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | SBAC | AMT |
|---|---|---|
| 1Y ago | $8.18K (-18.2%) started 2025-06-18 | $8.17K (-18.3%) started 2025-06-18 |
| 5Y ago | $6.45K (-35.5%) started 2021-06-21 | $8.25K (-17.5%) started 2021-06-21 |
| 10Y ago | $20.86K (+108.6%) started 2016-06-20 | $25.46K (+154.6%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | SBAC | AMT |
|---|---|---|
| Market cap | $21.72B | $87.21B |
| Trailing P/E | 21.56 | 30.19 |
| Forward P/E | 25.27 | 27.10 |
| Price/Sales | 9.03 | N/A |
| EV/Revenue | 12.95 | 12.70 |
| Analyst target | $235.10 | $216.14 |
| Target upside | +14.80% | +15.47% |
Growth, profitability & risk
| Metric | SBAC | AMT |
|---|---|---|
| Revenue growth | 5.90% | 6.80% |
| Earnings growth | -14.70% | 76.90% |
| EPS growth | -14.70% | +76.90% |
| FCF margin | -10.58% | +42.65% |
| Operating margin | 52.42% | 45.91% |
| Profit margin | 35.66% | 26.81% |
| ROIC proxy | N/A | 29.95% |
| Return on equity | N/A | 29.95% |
| Dividend yield | 2.44% | 3.73% |
| Beta | 0.98 | 0.89 |
| Debt/equity | N/A | 444.55 |
| Current ratio | 0.20 | 0.30 |
| Quick ratio | 0.14 | 0.26 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
SBAC max drawdown31.00%
AMT max drawdown28.01%
SBAC max wkly drop10.90%
AMT max wkly drop9.88%
5Y risk snapshot
SBAC max drawdown55.50%
AMT max drawdown45.34%
SBAC max wkly drop13.61%
AMT max wkly drop13.55%
10Y risk snapshot
SBAC max drawdown55.50%
AMT max drawdown45.34%
SBAC max wkly drop18.65%
AMT max wkly drop18.24%
Performance metrics by period
| Period | Metric | SBAC | AMT |
|---|---|---|---|
| 1Y | Growth | -18.15% | -18.30% |
| CAGR | -18.18% | -18.32% | |
| Sharpe ratio | -0.59 | -0.89 | |
| Max drawdown | 31.00% | 28.01% | |
| Max daily drop | 4.89% | 4.24% | |
| Max wkly drop | 10.90% | 9.88% | |
| 5Y | Growth | -38.79% | -26.56% |
| CAGR | -9.37% | -6.00% | |
| Sharpe ratio | -0.34 | -0.27 | |
| Max drawdown | 55.50% | 45.34% | |
| Max daily drop | 7.81% | 7.66% | |
| Max wkly drop | 13.61% | 13.55% | |
| 10Y | Growth | +95.18% | +101.97% |
| CAGR | +6.92% | +7.29% | |
| Sharpe ratio | 0.22 | 0.23 | |
| Max drawdown | 55.50% | 45.34% | |
| Max daily drop | 8.93% | 15.16% | |
| Max wkly drop | 18.65% | 18.24% |
Business comparison
| Category | SBAC | AMT |
|---|---|---|
| Company | SBA Communications Corporation | American Tower Corporation |
| Sector | Real Estate | Real Estate |
| Industry | REIT - Specialty | N/A |
| Core business | SBA Communications owns and operates 40,000+ wireless communication towers in the US, Canada, Central and South America, and South Africa. SBA generates revenue through long-term leases to wireless carriers (AT&T, T-Mobile, Verizon) who co-locate their antennas on SBA towers. The tower model is highly capital-efficient — additional tenant antennas on existing towers generate nearly pure incremental margin. SBA does not pay dividends, instead using cash for debt repayment and share buybacks. | American Tower is the world's largest cell tower REIT, owning 220,000+ towers across the US, Europe, Africa, Asia, Latin America, and the Middle East. Its CoreSite data center acquisition added a complementary digital infrastructure business alongside towers. AMT's international scale in Africa and India provides exposure to mobile data adoption waves that are earlier-stage than mature US and European markets. |
| Investor focus | Investors track same-tower organic revenue growth, new leasing activity (first-time and co-location), tower count additions, international market penetration, and AFFO per share growth as the primary return metric. | Investors track US tower organic revenue growth, international tower same-tower growth by region, CoreSite data center performance, dividend coverage from AFFO, and leverage reduction after elevated acquisition debt. |
SBAC strengths
- →Tower model is one of the most capital-efficient real estate models: each additional tenant co-locating on an existing tower generates 90%+ margin incremental revenue
- →Long-term leases with annual escalators (typically 3% in the US) provide predictable, inflation-linked revenue from creditworthy carrier tenants
- →International exposure (Central/South America, South Africa) provides growth in mobile data markets still earlier in their 4G/5G adoption curve
AMT strengths
- →Largest global tower portfolio with 220,000+ towers providing unmatched scale in both US and international emerging markets
- →Africa and India portfolios benefit from some of the highest mobile data growth rates globally as smartphone penetration expands
- →CoreSite data center acquisition diversifies AMT beyond towers into digital infrastructure adjacent to the cloud and edge computing markets
Risks to watch — SBAC
- →T-Mobile and Sprint merger reduced US tower tenants from four to three major carriers — carrier consolidation reduces tower leasing demand
- →US carrier spending cycles (capital constraints post-5G buildout investment) can slow new co-location and amendment activity
- →International markets carry currency, political, and regulatory risks not present in the US tower business
Risks to watch — AMT
- →India tower market is highly competitive with low lease rates — AMT wrote down India tower value significantly
- →CoreSite data center integration adds operational complexity outside AMT's core tower competency
- →Elevated debt from acquisitions (CoreSite, data centers) requires deleveraging that prioritizes debt over dividend growth
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