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American Healthcare REIT vs SBA Communications: AHR and SBAC compared
American Healthcare REIT is the larger company: $742M of revenue in its latest quarter (Q3 2026) against $714M for SBA Communications (Q3 2026). American Healthcare REIT is growing faster (+30% against -2% a year earlier). SBA Communications is more profitable, with an operating margin of 51.5% against 22.2%.
Where the money goes: AHR and SBAC
American Healthcare REIT (AHR) · Q3 2026
American Healthcare REIT, Q3 2026: revenue $742M (+30% year over year), operating margin 22.2%, net earnings $31.2M, operating cash flow $167M. The chart follows the revenue to costs, profit and cash.
SBA Communications (SBAC) · Q3 2026
SBA Communications, Q3 2026: revenue $714M (-2% year over year), operating margin 51.5%, net earnings $231M, operating cash flow $332M. The chart follows the revenue to costs, profit and cash.
| American Healthcare REIT (AHR) | SBA Communications (SBAC) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $742M | $714M |
| Revenue growth, Y/Y | +30% | -2% |
| Gross margin | — | 76.0% |
| Operating margin | 22.2% | 51.5% |
| Net earnings | $31.2M | $231M |
| Net margin | 4.2% | 32.4% |
| Operating cash flow | $167M | $332M |
| Free cash flow | — | $259M |
| Market value | $12.6B | $20.0B |
| P/E | 129.4× | 20.3× |
| Analysts’ mean target | $63.69 | $222.75 |
Where the revenue comes from
American Healthcare REIT
- Integrated Senior Health Campuses: $534M (72%)
- SHOP: $167M (22%)
- Outpatient Medical: $30.7M (4%)
- Triple Net Leased Properties: $10.4M (1%)
SBA Communications
- Domestic Site Leasing: $454M (64%)
- International Site Leasing: $211M (30%)
- Site Development: $48.6M (7%)
Questions
Which is bigger, American Healthcare REIT or SBA Communications?
American Healthcare REIT is the larger company: $742M of revenue in its latest quarter (Q3 2026) against $714M for SBA Communications (Q3 2026).
Is American Healthcare REIT or SBA Communications growing faster?
American Healthcare REIT is growing faster (+30% against -2% a year earlier).
Which is more profitable, American Healthcare REIT or SBA Communications?
SBA Communications is more profitable, with an operating margin of 51.5% against 22.2%.
More: American Healthcare REIT earnings · how American Healthcare REIT makes money · SBA Communications earnings · how SBA Communications makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.