CROWN CASTLE INC. CCI

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

We own, operate and lease shared communications infrastructure that is geographically dispersed throughout the U.S., including (1) more than 40,000 towers and other structures, such as rooftops (collectively, "towers"), (2) approximately 105,000 small cell nodes either currently generating revenue or under contract and (3) approximately 90,000 route miles of fiber primarily supporting small cells and fiber solutions. We refer to our towers, small cells and fiber assets collectively as "communications infrastructure," and, at times, to our customers on our communications infrastructure as "tenants." Our operating segments historically consisted of (1) Towers and (2) Fiber, which includes both small cells and fiber solutions.

Last close 85.97 2026-10-23
Market cap $36.58B 2026-06-30 share count
52-week range 65.32 - 98.36

Valuation FY2025 figures against the last close

P/S170.1x
P/E85.1x
P/FCF12.7x
EV/EBITDA23.0x
Dividend yield5.7%
Diluted EPS1.01

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $215.0M$192.0M$421.0M$697.0M$621.0M$520.0M$670.0M$574.0M$521.0M$688.0M
Cost of revenue $113.0M$107.0M$304.0M$2.02B$1.95B$1.93B$524.0M$434.0M$399.0M$417.0M
Gross profit $102.0M$85.0M$117.0M-$1.33B-$1.33B-$1.41B$146.0M$140.0M$122.0M$271.0M
SG&A $383.0M$435.0M$502.0M$750.0M$680.0M$678.0M$614.0M$563.0M$426.0M$371.0M
Total operating expenses $2.19B$2.34B$2.64B$4.56B$4.34B$4.34B$4.20B$3.99B$3.29B$2.97B
Operating income $2.08B$2.12B$2.10B$2.42B$2.00B$1.86B$1.56B$1.38B$967.0M$949.0M
Interest expense ————————$0$0
Pre-tax income $1.12B$1.18B$1.26B$1.69B$1.18B$1.08B$881.0M$641.0M$392.0M$374.0M
Income tax $16.0M$18.0M$21.0M$16.0M$21.0M$20.0M$21.0M$19.0M$26.0M$17.0M
Net income $444.0M-$3.90B$1.50B$1.68B$1.10B$1.06B$860.0M$622.0M$366.0M$357.0M
EPS, basic 1.02-8.983.463.872.542.361.801.230.800.95
EPS, diluted 1.01-8.983.463.862.532.351.791.230.800.95
Shares, diluted (wtd. avg.) 437.0M434.0M434.0M434.0M434.0M425.0M418.0M415.0M383.0M341.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $99.0M$100.0M$281.0M$327.0M$466.0M$381.0M$338.0M$413.0M$440.0M$697.0M
Receivables $172.0M$129.0M$481.0M$593.0M$543.0M$431.0M$596.0M$455.0M$402.0M$373.5M
Total current assets $1.14B$1.09B$1.03B$1.22B$1.25B$1.10B$1.20B$1.16B$1.07B$1.32B
Property, plant and equipment $6.27B$6.58B$15.67B$15.41B$15.27B$15.16B$14.67B$13.20B$13.03B$9.81B
Goodwill $5.13B$5.13B$10.09B$10.09B$10.08B$10.08B$10.08B$10.07B$10.02B$5.76B
Other intangibles $861.0M$1.04B$3.18B$3.60B$4.05B$4.43B$4.84B$5.52B$5.96B$3.65B
Total assets $31.52B$32.74B$38.53B$38.92B$39.04B$38.77B$38.46B$32.35B$32.23B$22.68B
Accounts payable $71.0M$48.0M$252.0M$236.0M$246.0M$230.0M$334.0M$272.0M$248.0M$188.5M
Short-term debt $2.78B$603.0M$835.0M$819.0M$72.0M$129.0M$100.0M$112.0M$130.0M$101.7M
Total current liabilities $4.48B$2.18B$2.58B$2.73B$2.03B$1.97B$1.92B$1.36B$1.26B$961.4M
Long-term debt $24.34B$24.08B$22.92B$21.73B$20.63B$19.28B$18.12B$16.68B$16.16B$12.17B
Total liabilities $33.15B$32.87B$32.15B$31.47B$30.78B$29.31B$27.97B$20.22B$19.82B$15.12B
Retained earnings -$20.16B-$18.52B-$11.89B-$10.67B-$9.75B-$8.47B-$7.37B-$5.58B-$4.92B-$3.71B
Total equity -$1.64B-$133.0M$6.38B$7.45B$8.26B$9.46B$10.49B$11.57B$11.93B$7.22B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $3.06B$2.94B$3.13B$2.88B$2.79B$3.06B$2.70B$2.50B$2.03B$1.79B
Depreciation and amortisation $690.0M$736.0M$787.0M$1.71B$1.64B$1.61B$1.57B$1.53B$1.24B$1.11B
Stock-based compensation $73.0M$84.0M$102.0M$156.0M$129.0M$138.0M$117.0M$103.0M$92.0M$79.0M
Capital expenditure $182.0M$176.0M$243.0M$1.31B$1.23B$1.62B$2.06B$1.74B$1.22B$874.0M
Investing cash flow -$1.16B-$1.22B-$1.52B-$1.35B-$1.33B-$1.74B-$2.08B-$1.79B-$10.48B-$1.43B
Financing cash flow -$1.89B-$1.71B-$1.65B-$1.67B-$1.31B-$1.27B-$692.0M-$733.0M$8.19B-$89.0M
Dividends paid $2.08B$2.73B$2.72B$2.60B$2.37B$2.10B$1.91B$1.78B$1.51B$1.24B
Buybacks $23.0M$33.0M$30.0M$65.0M$70.0M$76.0M$44.0M$34.0M$23.0M$25.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001051470-26-000039.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -4B -2B 0 2B Revenue, FY2016: 688M Gross profit, FY2016: 271M Net income, FY2016: 357M Revenue, FY2017: 521M Gross profit, FY2017: 122M Net income, FY2017: 366M Revenue, FY2018: 574M Gross profit, FY2018: 140M Net income, FY2018: 622M Revenue, FY2019: 670M Gross profit, FY2019: 146M Net income, FY2019: 860M Revenue, FY2020: 520M Gross profit, FY2020: -1.4B Net income, FY2020: 1.1B Revenue, FY2021: 621M Gross profit, FY2021: -1.3B Net income, FY2021: 1.1B Revenue, FY2022: 697M Gross profit, FY2022: -1.3B Net income, FY2022: 1.7B Revenue, FY2023: 421M Gross profit, FY2023: 117M Net income, FY2023: 1.5B Revenue, FY2024: 192M Gross profit, FY2024: 85M Net income, FY2024: -3.9B Revenue, FY2025: 215M Gross profit, FY2025: 102M Net income, FY2025: 444M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $688.0M $521.0M $574.0M $670.0M $520.0M $621.0M $697.0M $421.0M $192.0M $215.0M
Gross profit $271.0M $122.0M $140.0M $146.0M -$1.41B -$1.33B -$1.33B $117.0M $85.0M $102.0M
Net income $357.0M $366.0M $622.0M $860.0M $1.06B $1.10B $1.68B $1.50B -$3.90B $444.0M

Recent filings and events

  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Results announced Item 2.02
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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