Axon Enterprise, Inc. (AXON) vs SBA Communications Corporation (SBAC)
A side-by-side comparison of Axon Enterprise, Inc. and SBA Communications Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 10, 2026. Differences are shown without an overall score or investment verdict.
Total return — AXON vs SBAC
growth of $100 · dividends reinvested · last 10yAXON vs SBAC: by the numbers
- •AXON is the larger company ($38.64B vs $19.67B market cap).
- •SBAC converts more revenue to profit (34.51% vs 6.20% net margin).
- •AXON grew revenue faster over the past five years (31.90% vs 5.63% CAGR).
- •SBAC pays a dividend (2.53% yield), while AXON has no payments in the available dividend history.
Metrics side by side
Valuation
| Metric | AXON | SBAC |
|---|---|---|
| P/E ratio | 198.72 | 19.96 |
| Forward P/E | 62.14 | 24.09 |
| P/S ratio | 12.00 | 6.85 |
| P/B ratio | 10.51 | N/A |
| EV / EBITDA | 211.72 | 18.58 |
| FCF yield | 0.34% | 5.34% |
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 | AXON | SBAC |
|---|---|---|
| Gross margin | 59.41% | 41.61% |
| Operating margin | 2.61% | 50.79% |
| Net margin | 6.20% | 34.51% |
| ROE | 5.43% | N/A |
| ROIC | 1.09% | 11.87% |
Dividends
| Metric | AXON | SBAC |
|---|---|---|
| Dividend yield | N/A | 2.53% |
| Payout ratio | N/A | 50.81% |
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 | AXON | SBAC |
|---|---|---|
| Revenue CAGR (5Y) | 31.90% | 5.63% |
| EPS CAGR (5Y) | 117.98% | 115.83% |
| FCF CAGR (5Y) | 21.08% | 1.35% |
| Total return CAGR (5Y) | 21.64% | -10.80% |
Frequently asked
- Which has grown faster, AXON or SBAC?
- Over the past five years, AXON grew revenue faster — AXON at a 31.90% CAGR versus SBAC at 5.63%.
- Does AXON or SBAC pay a bigger dividend?
- SBAC pays a dividend (2.53% yield), while AXON has no payments in the available dividend history.
- Is AXON or SBAC more profitable?
- SBAC runs the higher net margin — AXON at 6.20% versus SBAC at 34.51%.
- How have AXON and SBAC total returns compared?
- Over the past 10 years, AXON delivered 34.24% and SBAC delivered 6.46% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Axon Enterprise & 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 10, 2026.