AvalonBay Communities, Inc. (AVB) vs SBA Communications Corporation (SBAC)
A side-by-side comparison of AvalonBay Communities, Inc. and SBA Communications Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.
Total return — AVB vs SBAC
growth of $100 · dividends reinvested · last 10yAVB vs SBAC: by the numbers
- •AVB is the larger company ($26.28B vs $19.67B market cap).
- •SBAC converts more revenue to profit (34.51% vs 33.39% net margin).
- •AVB grew revenue faster over the past five years (6.62% vs 5.63% CAGR).
- •AVB pays the higher dividend yield (3.84% vs 2.54%).
Metrics side by side
Valuation
| Metric | AVB | SBAC |
|---|---|---|
| P/E ratio | 9.39 | 19.96 |
| Forward P/E | 11.29 | 24.09 |
| P/S ratio | 8.53 | 6.85 |
| P/B ratio | 2.19 | N/A |
| EV / EBITDA | 19.60 | 18.58 |
| FCF yield | 4.83% | 5.34% |
For REITs like AvalonBay Communities, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like SBA Communications Corporation, GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | AVB | SBAC |
|---|---|---|
| Gross margin | 66.99% | 41.61% |
| Operating margin | 28.45% | 50.79% |
| Net margin | 33.39% | 34.51% |
| ROE | 8.56% | N/A |
| ROIC | 3.93% | 11.87% |
Dividends
| Metric | AVB | SBAC |
|---|---|---|
| Dividend yield | 3.84% | 2.54% |
| Payout ratio | 97.25% | 50.81% |
AvalonBay Communities, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
SBA Communications Corporation's payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | AVB | SBAC |
|---|---|---|
| Revenue CAGR (5Y) | 6.62% | 5.63% |
| EPS CAGR (5Y) | 4.67% | 115.83% |
| FCF CAGR (5Y) | 9.40% | 1.35% |
| Total return CAGR (5Y) | -18.27% | -10.57% |
Frequently asked
- Which has grown faster, AVB or SBAC?
- Over the past five years, AVB grew revenue faster — AVB at a 6.62% CAGR versus SBAC at 5.63%.
- Does AVB or SBAC pay a bigger dividend?
- AVB yields 3.84% and SBAC yields 2.54% based on trailing dividends and the latest price.
- Is AVB or SBAC more profitable?
- SBAC runs the higher net margin — AVB at 33.39% versus SBAC at 34.51%.
- How have AVB and SBAC total returns compared?
- Over the past 10 years, AVB delivered -5.84% and SBAC delivered 6.38% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
AvalonBay Communities & SBA Communications appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.