What SBA Communications's latest 10-K says: 12 signals
SBA Communications filed its latest 10-K with the SEC on Feb 27, 2026. It discusses capex increase, acquisition completed and competitor named.
Public (SBAC)Telecommunications1,001 to 5,000 employeessbasite.comLinkedIn
- Filed
- Feb 27, 2026
- Filings
- 1
- Signals
- 12
10-K · latest 9
What SBA Communications's 10-K filings say
- SEC EDGAR
10-K
Filed · 12 signals
Completed acquisition of over 7,000 tower sites from Millicom in Central America during 2025.
This major acquisition significantly expands SBAC's footprint and leadership position in Central America, aligning them with a leading regional carrier.
Millicom International Cellular S.A.
Exited operations in the Philippines, Colombia, and Canada during 2025.
The company sold all towers and ceased operations in the Philippines and Colombia, and divested substantially all Canadian operations.
Secured 7-year exclusive deal to build up to 2,500 new sites in Central America.
As part of the Millicom transaction, SBAC gained a seven-year exclusivity right to build up to 2,500 build-to-suit sites, each with a 15-year initial lease term.
Millicom
Identifies American Tower Corporation and Crown Castle International as primary US competitors.
SBAC explicitly names its largest competitors in the US site leasing market, highlighting the intense competition for tower assets and tenant contracts.
American Tower CorporationCrown Castle International
SBAC acquired 7,000+ sites and committed to build 2,500 new sites in Central America
Following the acquisition of over 7,000 sites from Millicom, SBAC has a seven-year exclusivity agreement to build up to 2,500 more sites, signaling a massive, multi-year capital expenditure program in the region.
Millicom International Cellular S.A.
Exploring new revenue streams in edge data centers, private networks, and satellite ground stations.
SBAC is actively pursuing ancillary services beyond traditional towers to create new value, including edge computing, fiber aggregation, and private networks.
edge data centersfibersatellite ground stationsprivate networks
SBAC is investing in new technologies like edge data centers, fiber, and private networks
edge data centersfibersatellite ground stationsprivate networks
SBAC is actively acquiring land and long-term easements under its towers to control operating costs and improve margins.
14.5%
of tower structures had ground leases or other property interests maturing in the next 10 years
14.5% of SBAC's ground leases, affecting ~6,700 towers, will mature in the next 10 years
The upcoming expiration of a significant portion of its underlying land leases exposes the company to rent increases and complex renegotiations, threatening operating margins and cash flow.
14.5%
Percentage of tower structures with ground leases maturing in the next 10 years
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Questions about SBA Communications 10-K
When did SBA Communications file its latest 10-K?
What does SBA Communications's latest 10-K say about acquisition completed?
Where can I find SBA Communications's annual report?
Source. Annual reports (Form 10-K) filed with the SEC. Every card links to the filing on EDGAR.
Method. Insights are extracted from the filing text and grouped by category. Numbers are quoted from the filing.
Data as of .