Is Crown Castle financially healthy?

On 30 September 2026 Crown Castle held 133.00M USD in cash and short-term investments against total debt of 22.92B USD. Its current ratio is 0.23: what falls due within a year against what turns into cash within a year. Over the last twelve months it generated 1.73B USD of free cash flow.

Is Crown Castle growing?

Crown Castle's revenue shrank 6.1% a year over its last five fiscal years, from 5.84B USD in fiscal year 2020 to 4.27B USD in fiscal year 2025. Over the last twelve months it was down 15.6% on the twelve months before.

Where can I find Crown Castle's annual report (10-K)?

Crown Castle files its annual report (Form 10-K) and its quarterly reports (Form 10-Q) with the US Securities and Exchange Commission, on its EDGAR site; the figures on these pages come from them.

Crown Castle
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Arincen ScoreBeta39/100

39/100B

89.950

USD

0.23

(0.26%)

Market Open

Last updated: 13 Nov, 10:47 GMT-5 · Delayed 15 min

Fair valueNot reliable

Q4 FY2026 · Earnings report

EPS estimate 0.72Revenue estimate 1.02B

Q4 FY2026 · Earnings report

Wednesday 3 February

EPS estimate 0.72Revenue estimate 1.02B

Fair valueNot reliable

Q4 FY2026 · Earnings report

EPS estimate 0.72Revenue estimate 1.02B

Q4 FY2026 · Earnings report

Wednesday 3 February

EPS estimate 0.72Revenue estimate 1.02B

Overview Financials Forecast Earnings Dividends Company

Crown Castle financials

Yes. Crown Castle earned 822.00M USD of net income over the last twelve months, 20.1% of its revenue. It made a profit in 15 of its 29 fiscal years since 1997. Its last loss was in fiscal year 2024.

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 4.09B USD
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 822.00M USD
Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.: 1.73B USD
Cash and short-term investments: 133.00M USD
Total debt: 22.92B USD
Shareholders' equityWhat is a balance sheet? The balance sheet lists what a company owns (assets), what it owes (liabilities) and what is left for its shareholders (equity) on one date.: -3.42B USD

Cash, debt and equity as of 30 Sept 2026.

Crown Castle earnings

Next earnings · Q4 FY2026

3 Feb 2027

EPS estimate

0.72 USD

Revenue estimate

1.02B USD

Last quarter · Q3 FY2026

EPS0.67Missed -2.5%Revenue966.00MMissed -4.5%

Revenue

ReportedEstimate

EPS

ReportedEstimate

Period	Report date	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
Q1 FY2027	—	0.70	—	—	+104.77%	1.01B	—	—	+0.18%
Q4 FY2026	3 Feb 2027	0.72	—	—	+5.59%	1.02B	—	—	-4.83%
Q3 FY2026	21 Oct 2026	0.69	0.67	-2.47%	-9.46%	1.01B	966.00M	-4.53%	-9.89%
Q2 FY2026	22 Jul 2026	0.39	0.69	+76.74%	+2.99%	995.05M	1.01B	+1.30%	-4.91%
Q1 FY2026	22 Apr 2026	0.38	0.34	-9.72%	—	994.84M	1.01B	+1.52%	-4.81%
Q4 FY2025	4 Feb 2026	0.55	0.68	+23.19%	—	1.06B	1.07B	+1.09%	-34.99%
Q3 FY2025	22 Oct 2025	0.52	0.74	+41.22%	+5.71%	1.06B	1.07B	+1.53%	-35.11%
Q2 FY2025	23 Jul 2025	0.55	0.67	+22.71%	+15.52%	1.04B	1.06B	+2.00%	-34.81%

Period	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
FY2028	2.93	—	—	+2.71%	4.19B	—	—	+2.16%
FY2027	2.86	—	—	+47.82%	4.10B	—	—	+1.63%
FY2026	1.93	—	—	+89.36%	4.03B	—	—	-5.43%
FY2025	0.93	1.02	+9.83%	—	4.25B	4.27B	+0.24%	-35.06%
FY2024	2.42	-8.97	-470.36%	-359.25%	6.56B	6.57B	+0.17%	-5.92%
FY2023	3.38	3.46	+2.46%	-26.23%	6.97B	6.98B	+0.19%	-0.07%
FY2022	3.88	4.69	+20.89%	+29.56%	6.97B	6.99B	+0.27%	+10.19%

Crown Castle growth and profitability

Full income statement

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 4.09B USD
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 822.00M USD
Gross marginWhat are gross, operating and net profit margins? A profit margin is the share of revenue kept as profit: gross margin after the cost of sales, operating margin after running costs, net margin after all costs.: 62.96%
Operating margin: 47.07%
Net margin: 20.12%

Revenue / Net income

Revenue Net income Net margin

Period	Revenue	Growth	Net income	Growth	Gross margin	Operating margin	Net margin	EBITDA	Growth
FY2025	4.27B	-35.06%	444.00M	—	66.07%	48.75%	10.41%	2.77B	—
FY2024	6.57B	-5.92%	-3.90B	-359.85%	71.88%	-44.73%	-59.42%	-1.24B	-130.25%
FY2023	6.98B	-0.07%	1.50B	-10.33%	71.64%	33.93%	21.52%	4.10B	+0.79%
FY2022	6.99B	+10.19%	1.68B	+52.83%	70.40%	34.71%	23.98%	4.07B	+17.83%
FY2021	6.34B	+8.56%	1.10B	+3.79%	68.56%	31.56%	17.29%	3.46B	+3.13%

Period	Revenue	Net income	Gross margin	Operating margin	Net margin
Q3 FY2026	995.00M	283.00M	73.77%	46.73%	28.44%
Q2 FY2026	1.01B	94.00M	63.79%	46.63%	9.33%
Q1 FY2026	1.01B	151.00M	73.66%	46.04%	14.95%
Q4 FY2025	1.07B	294.00M	42.07%	48.79%	27.43%
Q3 FY2025	1.07B	323.00M	73.88%	48.97%	30.13%

How Crown Castle makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Revenue4.27B 100.0%

Cost of revenue1.45B 33.9%

Gross profit2.82B 66.1%

Selling and administration383.00M 9.0%

Other operating expenses356.00M 8.3%

Operating income2.08B 48.7%

Tax16.00M 0.4%

Other expense1.62B 38.0%

Net income444.00M 10.4%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Crown Castle revenue breakdown

By product

FY2024

67.9%Towers32.1%Fiber

Segment	Revenue	Share of revenue	Change on the year
Towers	4.46B	67.9%	-5.8%
Fiber	2.11B	32.1%	-6.1%

By region

FY2014

95.8%United States4.1%Australia

Region	Revenue	Share of revenue	Change on the year
United States	3.54B	95.8%	+23.5%
Australia	151.13M	4.1%	-3.5%
Other Countries	2.96M	0.1%	-11.7%

Operating and free cash flow

Full cash flow statement

Operating cash flow Free cash flow

Fiscal year	Operating cash flow	Free cash flow
FY2025	3.06B	2.88B
FY2024	2.94B	1.72B
FY2023	3.13B	1.70B
FY2022	2.88B	1.57B
FY2021	2.79B	1.56B
FY2020	3.06B	1.43B
FY2019	2.70B	641.00M
FY2018	2.50B	761.00M
FY2017	2.04B	816.12M
FY2016	1.78B	908.38M

Crown Castle financial health

Full balance sheet

Cash and short-term investments: 133.00M USD
Total debt: 22.92B USD
Net cash: -22.79B USD
Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.: 1.73B USD
Current ratioWhat is the current ratio? The current ratio is current assets divided by current liabilities: whether what a company will turn into cash within a year covers what it owes within a year.: 0.23
Piotroski scoreWhat is the Piotroski F-Score? The Piotroski F-Score rates a company's financial strength from 0 to 9: one point for each of nine tests of profit, debt and efficiency it passes.: 7 / 9
Altman Z-scoreWhat is the Altman Z-Score? The Altman Z-Score rolls five financial ratios into one number that signals a company's risk of bankruptcy: over 3 is safe, under 1.8 is distress.: -0.08

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow

Fiscal year	Cash and short-term investments	Total debt	Free cash flow
FY2025	269.00M	29.57B	2.88B
FY2024	119.00M	29.61B	1.72B
FY2023	105.00M	28.81B	1.70B
FY2022	156.00M	27.96B	1.57B
FY2021	292.00M	27.01B	1.56B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity

Fiscal year	Total assets	Total liabilities	Shareholders' equity
FY2025	31.52B	33.15B	-1.64B
FY2024	32.74B	32.87B	-133.00M
FY2023	38.53B	32.15B	6.38B
FY2022	38.92B	31.47B	7.45B
FY2021	39.04B	30.78B	8.26B
FY2020	38.77B	29.31B	9.46B
FY2019	38.46B	27.97B	10.49B
FY2018	32.76B	21.19B	11.57B
FY2017	32.23B	19.89B	12.34B
FY2016	22.68B	15.12B	7.56B

Crown Castle valuation

Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.: 37.48
Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.: 46.57
Price to sales (TTM)What is the P/S ratio? The price-to-sales ratio compares a company's market value with its revenue over the last year: what you pay for each dollar of sales.: 9.37
EV / EBITDA (TTM)What is EV/EBITDA? EV/EBITDA compares a company's whole value, debt included and cash taken off, with a year of its earnings before interest, tax and depreciation.: 22.91

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Market capitalization

38.27B USD

Total debt

22.92B USD

−

Cash and short-term investments

133.00M USD

Enterprise value

61.06B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate

Fiscal year	P/E	Forward P/E	P/S	P/B	EV/EBITDA
FY2028 (est.)	30.67	—	—	—	—
FY2027 (est.)	31.50	30.67	—	—	—
FY2026 (est.)	46.57	31.50	—	—	—
Now (TTM)	37.48	32.90	9.37	—	22.91
FY2025	87.13	46.01	9.06	-23.64	24.55
FY2024	-10.11	97.68	6.00	-296.16	-55.51
FY2023	33.29	47.47	7.16	7.83	19.18
FY2022	35.05	40.16	8.41	7.88	21.26
FY2021	82.18	53.78	14.22	10.92	33.83

Crown Castle against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Iron Mountain, Digital Realty Trust, SBA Communications, American Tower, Equinix, and Lamar Advertising, the US REIT - Specialty companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

P/E (today)Above its median37.5
21.889.4
Gross marginLowest in 5 years66.1%
66.1%71.9%
Against its peers: 2 of 7Peers' median 46.5%
Operating marginHighest in 5 years48.7%
-44.7%48.7%
Against its peers: 1 of 7Peers' median 25.6%
Net marginBelow its median10.4%
-59.4%24.0%
Against its peers: 6 of 7Peers' median 22.6%
Free cash flow marginHighest in 5 years67.4%
22.4%67.4%
Against its peers: 1 of 7Peers' median 34.0%
Revenue growthLowest in 5 years-35.1%
-35.1%10.2%
Against its peers: 7 of 7Peers' median 5.5%
Debt to EBITDAHighest in 5 years10.68×
6.87×10.68×
Against its peers: 7 of 7Peers' median 7.05×
Current ratioLowest in 5 years0.26
0.260.62
Against its peers: 7 of 7Peers' median 0.84

Figure	FY2025	5-year low – high	Against its history	Against its peers
P/E (today)	37.5	21.889.4	Above its median	—
Gross margin	66.1%	66.1%71.9%	Lowest in 5 years	2 of 7
Operating margin	48.7%	-44.7%48.7%	Highest in 5 years	1 of 7
Net margin	10.4%	-59.4%24.0%	Below its median	6 of 7
Free cash flow margin	67.4%	22.4%67.4%	Highest in 5 years	1 of 7
Revenue growth	-35.1%	-35.1%10.2%	Lowest in 5 years	7 of 7
Debt to EBITDA	10.68×	6.87×10.68×	Highest in 5 years	7 of 7
Current ratio	0.26	0.260.62	Lowest in 5 years	7 of 7

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Crown Castle dividends

Annual dividend: 4.25 USD
Dividend yield (indicated)What is dividend yield? Dividend yield is a year of dividends as a percentage of the share price: the income a shareholder receives for each dollar invested at today's price.: 4.72%
Payout ratio (FFO)What is the payout ratio? The payout ratio is the share of a company's earnings paid out as dividends: dividends per share divided by earnings per share (EPS).: 122.05%
Frequency: Quarterly
Next payment: 1.06 USD
Next ex-dividend dateWhat is the ex-dividend date? The ex-dividend date is the first day a stock trades without its next dividend: buy before it to receive the payment; buy on or after it and the seller gets it.: 15 Dec 2026
Next payment date: 31 Dec 2026

Dividends per share

Year	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Dividends per share	4.75	6.26	6.26	5.98	5.46	4.93	4.58	4.28	3.90	3.61

Crown Castle ownership

InstitutionsWhat is institutional ownership? Institutional ownership is the share of a company's stock held by funds, banks and other investment managers, as they report it each quarter on Form 13F.: 99.16%
Institutional holders: 973 (-17)
Free floatWhat is free float? Free float is the part of a company's shares that anyone can buy and sell: all its shares minus those held by insiders, founders and owners of over 5%.: 99.90%

Who owns the shares

Institutions 99.2% Others 0.8%

As of 30 Jun 2026

Shares free to trade

Free float 425.05M shares ·99.9% Closely held 430.78K shares ·0.1%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

Quarter	Purchases	Sales	Shares acquired	Shares disposed of
Q3 2026	0	1	31.81K	45.47K
Q2 2026	1	0	42.21K	21.66K
Q1 2026	0	3	178.73K	67.95K
Q4 2025	0	2	5.37K	37.98K

Shares outstanding

Basic shares Diluted shares Change in diluted shares

Fiscal year	Basic shares	Diluted shares	Change in diluted shares
FY2025	435.00M	437.00M	+0.69%
FY2024	434.00M	434.00M	0.00%
FY2023	434.00M	434.00M	0.00%
FY2022	433.00M	434.00M	0.00%
FY2021	432.00M	434.00M	+2.12%

Common questions about Crown Castle's financials

Source: Financial Modeling PrepVerified against SEC filings

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Crown Castle financials

Crown Castle earnings

Revenue

EPS

Crown Castle growth and profitability

Revenue / Net income

How Crown Castle makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Crown Castle revenue breakdown

By product

By region

Operating and free cash flow

Crown Castle financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Crown Castle valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

Crown Castle against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Crown Castle dividends

Dividends per share

Crown Castle ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about Crown Castle's financials

Is Crown Castle profitable?

Is Crown Castle financially healthy?

Is Crown Castle growing?

Where can I find Crown Castle's annual report (10-K)?

Need help?

Crown Castle DQuotes are delayed by 15 minutes

CCI

Crown Castle financials

Crown Castle earnings

Revenue

EPS

Crown Castle growth and profitability

Revenue / Net income

How Crown Castle makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Crown Castle revenue breakdown

By product

By region

Operating and free cash flow

Crown Castle financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Crown Castle valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

Crown Castle against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Crown Castle dividends

Dividends per share

Crown Castle ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about Crown Castle's financials

Is Crown Castle profitable?

Is Crown Castle financially healthy?

Is Crown Castle growing?

Where can I find Crown Castle's annual report (10-K)?

Need help?

Crown Castle
D
Quotes are delayed by 15 minutes