Lamar Advertising Co (LAMR) is overvalued and SBA Communications Corp (SBAC) is fairly valued.
Both trade above our estimate of their intrinsic value. SBAC is the closer of the two: -4%, against -86% for LAMR.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.4% (average of 3 methods) values the shares at $78.04; the price of $145.13 is 86% above that value, and 75% of that value comes from beyond year five.
Leak Score 22/100 on 2 of 12 signals
Discounting its cash flows at 9.1% (average of 3 methods) values the shares at $169.34; the price of $175.84 is 4% above that value, and 75% of that value comes from beyond year five.
Leak Score 60/100 on 8 of 12 signals
| Metric | LAMR | SBAC |
|---|---|---|
| Verdict | Overvalued | Fairly valued |
| Price | $145.13 | $175.84 |
| Intrinsic value | $78.04 | $169.34 |
| Margin of safety | -86% | -4% |
| Leak Score | 22/100 (2/12) | 60/100 (8/12) |
| Market cap | $14.7B | $18.7B |
| Revenue growth, 5 years | 7.6% | 6.2% |
| Operating margin | 31.6% | 53.7% |
| Net margin | 23.9% | 34.5% |
| Return on equity | 58.9% | — |
| Debt to equity | 5.07 | — |
| P/E | 26.5x | 18.9x |
| Forward P/E | 23.0x | 21.0x |
| P/B | 15.0x | — |
| Dividend yield | 4.5% | 2.8% |