Mid-America Apartment Communities, Inc. (MAA) vs SBA Communications Corporation (SBAC)
A side-by-side comparison of Mid-America Apartment Communities, Inc. and SBA Communications Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 3, 2026. Differences are shown without an overall score or investment verdict.
Total return — MAA vs SBAC
growth of $100 · dividends reinvested · last 10yMAA vs SBAC: by the numbers
- •SBAC is the larger company ($16.81B vs $13.41B market cap).
- •SBAC converts more revenue to profit (34.51% vs 18.17% net margin).
- •SBAC grew revenue faster over the past five years (5.63% vs 5.36% CAGR).
- •MAA pays the higher dividend yield (5.30% vs 3.07%).
Metrics side by side
Valuation
| Metric | MAA | SBAC |
|---|---|---|
| P/E ratio | 33.69 | 17.06 |
| Forward P/E | 31.45 | 20.58 |
| PEG ratio | 2.92 | 0.15 |
| P/S ratio | 6.04 | 5.86 |
| P/B ratio | 2.47 | N/A |
| EV / EBITDA | 15.39 | 17.04 |
| FCF yield | 4.25% | 6.25% |
For REITs like Mid-America Apartment 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 | MAA | SBAC |
|---|---|---|
| Gross margin | 31.83% | 41.61% |
| Operating margin | 26.88% | 50.79% |
| Net margin | 18.17% | 34.51% |
| ROE | 7.42% | N/A |
| ROIC | 5.17% | 11.87% |
Dividends
| Metric | MAA | SBAC |
|---|---|---|
| Dividend yield | 5.30% | 3.07% |
| Payout ratio | 178.51% | 52.31% |
Mid-America Apartment 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 | MAA | SBAC |
|---|---|---|
| Revenue CAGR (5Y) | 5.36% | 5.63% |
| EPS CAGR (5Y) | 11.49% | 115.83% |
| FCF CAGR (5Y) | 3.97% | 1.35% |
| Total return CAGR (5Y) | -5.97% | -12.36% |
Frequently asked
- Which has grown faster, MAA or SBAC?
- Over the past five years, SBAC grew revenue faster — MAA at a 5.36% CAGR versus SBAC at 5.63%.
- Does MAA or SBAC pay a bigger dividend?
- MAA yields 5.30% and SBAC yields 3.07% based on trailing dividends and the latest price.
- Is MAA or SBAC more profitable?
- SBAC runs the higher net margin — MAA at 18.17% versus SBAC at 34.51%.
- How have MAA and SBAC total returns compared?
- Over the past 10 years, MAA delivered 5.86% and SBAC delivered 4.55% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Mid-America Apartment 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 October 3, 2026.