CROWN CASTLE INC.
CROWN CASTLE INC.
CROWN CASTLE INC. (CCI) — SEC Financial Statements & Analysis
CROWN CASTLE INC. (CCI) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Statement Of Fi Nonecial … | |||||||||||||||||
Statement Of Financial Po… | |||||||||||||||||
Assets | |||||||||||||||||
Cash And Cash Equivalents At Carrying Value | 55 | 99 | 57 | 94 | 60 | 100 | 194 | 155 | 125 | 105 | 117 | 276 | |||||
Restricted Cash And Cash Equivalents At Carrying V… | 167 | 170 | 176 | 161 | 174 | 170 | 172 | 171 | 168 | 171 | 167 | 207 | |||||
Accounts Receivable Net Current | 188 | 172 | 125 | 100 | 123 | 129 | 413 | 420 | 380 | 481 | 512 | 496 | |||||
Prepaid Expense Current | 80 | 79 | 89 | 70 | 76 | 74 | 144 | 155 | 130 | 103 | 143 | 182 | |||||
Deferred Rent Receivables Net | 179 | 167 | 226 | 205 | 185 | 164 | 158 | 129 | 123 | 116 | 115 | 117 | |||||
Other Assets Current | 18 | 23 | 22 | 24 | 25 | 24 | 43 | 51 | 51 | 56 | 72 | 71 | |||||
Assets Of Disposal Group Including Discontinued Op… | 567 | 434 | 419 | 420 | 442 | 429 | - | - | - | - | - | - | |||||
Assets Current | 1,254 | 1,144 | 1,114 | 1,074 | 1,085 | 1,090 | 1,124 | 1,081 | 977 | 1,032 | 1,126 | 1,349 | |||||
Deferred Rent Receivables Net Noncurrent | 2,273 | 2,288 | 2,244 | 2,277 | 2,277 | 2,279 | 2,340 | 2,341 | 2,292 | 2,239 | 2,189 | 2,128 | |||||
Property Plant And Equipment Net | 6,220 | 6,273 | 6,330 | 6,402 | 6,492 | 6,577 | 15,643 | 15,698 | 15,677 | 15,666 | 15,573 | 15,571 | |||||
Operating Lease Right Of Use Asset | 5,437 | 5,473 | 5,513 | 5,562 | 5,566 | 5,600 | 5,843 | 5,930 | 5,990 | 6,187 | 6,309 | 6,385 | |||||
Goodwill | 5,127 | 5,127 | 5,127 | 5,127 | 5,127 | 5,127 | 10,085 | 10,085 | 10,085 | 10,085 | 10,085 | 10,085 | |||||
Other Intangible Assets Net | 27 | 27 | 905 | 949 | 993 | 28 | 2,878 | 2,974 | 3,073 | 57 | 3,276 | 3,388 | |||||
Other Assets Noncurrent | 60 | 61 | 63 | 63 | 57 | 58 | 130 | 137 | 137 | 139 | 141 | 136 | |||||
Disposal Group Including Discontinued Operation As… | 10,203 | 10,291 | 10,205 | 10,182 | 10,163 | 10,968 | - | - | - | - | - | - | |||||
Assets | 31,391 | 31,518 | 31,501 | 31,636 | 31,760 | 32,736 | 38,043 | 38,246 | 38,231 | 38,527 | 38,699 | 39,042 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Accounts Payable Current | 66 | 71 | 65 | 48 | 42 | 48 | 200 | 225 | 216 | 252 | 215 | 240 | |||||
Interest Payable Current | 156 | 235 | 160 | 238 | 162 | 244 | 164 | 228 | 160 | 219 | 145 | 219 | |||||
Deferred Revenue Current | 194 | 192 | 147 | 139 | 145 | 141 | 483 | 509 | 514 | 605 | 650 | 793 | |||||
Other Liabilities Current | 127 | 168 | 156 | 154 | 141 | 167 | 338 | 359 | 279 | 342 | 373 | 312 | |||||
Debt Current | 3,148 | 2,783 | 2,769 | 2,251 | 1,503 | 603 | 611 | 865 | 854 | 835 | 827 | 819 | |||||
Operating Lease Liability Current | 258 | 268 | 268 | 267 | 268 | 264 | 301 | 308 | 313 | 332 | 339 | 342 | |||||
Liabilities Of Disposal Group Including Discontinu… | 756 | 762 | 732 | 706 | 689 | 710 | - | - | - | - | - | - | |||||
Liabilities Current | 4,705 | 4,479 | 4,297 | 3,803 | 2,950 | 2,177 | 2,097 | 2,494 | 2,336 | 2,585 | 2,549 | 2,725 | |||||
Long Term Debt And Capital Lease Obligations | 21,534 | 21,554 | 21,550 | 22,039 | 22,874 | 23,451 | 23,452 | 22,854 | 22,560 | 22,086 | 21,903 | 21,599 | |||||
Operating Lease Liability Noncurrent | 4,939 | 4,961 | 4,988 | 5,009 | 5,030 | 5,062 | 5,272 | 5,354 | 5,397 | 5,561 | 5,660 | 5,750 | |||||
Other Liabilities Noncurrent | 611 | 607 | 623 | 628 | 641 | 645 | 1,926 | 1,892 | 1,890 | 1,914 | 1,918 | 1,922 | |||||
Liabilities Of Disposal Group Including Discontinu… | 1,522 | 1,552 | 1,536 | 1,539 | 1,518 | 1,534 | - | - | - | - | - | - | |||||
Liabilities | 33,311 | 33,153 | 32,994 | 33,018 | 33,013 | 32,869 | 32,747 | 32,594 | 32,183 | 32,146 | 32,030 | 31,996 | |||||
Common Stock Value | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | |||||
Additional Paid In Capital | 18,557 | 18,527 | 18,497 | 18,463 | 18,423 | 18,393 | 18,371 | 18,347 | 18,310 | 18,270 | 18,241 | 18,202 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -5 | -5 | -4 | -5 | -5 | -5 | -5 | -5 | -5 | -4 | -5 | -5 | |||||
Retained Earnings Accumulated Deficit | -20,476 | -20,161 | -19,990 | -19,844 | -19,675 | -18,525 | -13,074 | -12,694 | -12,261 | -11,889 | -11,571 | -11,155 | |||||
Stockholders Equity | -1,920 | -1,635 | -1,493 | -1,382 | -1,253 | -133 | 5,296 | 5,652 | 6,048 | 6,381 | 6,669 | 7,046 | |||||
Liabilities And Stockholders Equity | 31,391 | 31,518 | 31,501 | 31,636 | 31,760 | 32,736 | 38,043 | 38,246 | 38,231 | 38,527 | 38,699 | 39,042 | |||||
Allowance For Doubtful Accounts Receivable | - | - | - | - | - | 22 | - | - | - | 19 | - | - | |||||
Segment Continuing Operations | - | 99 | - | - | - | 100 | - | - | - | - | - | - | |||||
Common Stock Shares Issued | - | 435 | - | - | - | 435 | - | - | - | 434 | - | - | |||||
Accumulated Depreciation Depletion And Amortizatio… | 10,961 | - | 10,734 | 10,631 | 10,519 | - | 15,249 | 14,919 | 14,600 | - | 13,987 | 13,683 | |||||
Shares Outstanding | 436 | 435 | 435 | 435 | 435 | 435 | 435 | 435 | 435 | 434 | 434 | 434 | |||||
Common Stock Shares Authorized | 1,200 | 1,200 | 1,200 | 1,200 | 1,200 | 1,200 | 1,200 | 1,200 | 1,200 | 1,200 | 1,200 | 1,200 | |||||
Common Stock Par Or Stated Value Per Share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.47% | -8.22% | - | - | - | - | - | - | - | - | - | - |
| 2025 | -4.43% | -3.11% | 7.31% | -5.84% | -8.46% | -5.40% | 3.95% | 1.72% | -0.21% | -4.92% | 2.42% | 0.05% |
| 2024 | 3.03% | 2.95% | 12.10% | 2.71% | 6.81% | 4.07% | -2.20% | -14.55% | -14.18% | -2.17% | 3.54% | -2.78% |
| 2023 | - | - | - | -6.82% | -12.63% | -18.18% | 12.06% | 25.92% | 18.40% | -1.28% | -9.74% | -7.13% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 0.27 | 0.26 | 0.26 | 0.28 | 0.37 | 0.50 | 0.54 | 0.43 | 0.42 | 0.40 | 0.44 | 0.50 | |||||
| Quick Ratio | 0.25 | 0.24 | 0.24 | 0.26 | 0.34 | 0.47 | 0.47 | 0.37 | 0.36 | 0.36 | 0.39 | 0.43 | |||||
| Working Capital | -3.45B | -3.34B | -3.18B | -2.73B | -1.87B | -1.09B | -973.00M | -1.41B | -1.36B | -1.55B | -1.42B | -1.38B | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | -17.35 | -20.28 | -22.10 | -23.89 | -26.35 | -247.14 | 6.18 | 5.77 | 5.32 | 5.04 | 4.80 | 4.54 | |||||
| Interest Coverage TTM | 0.83 | 0.86 | 0.90 | 0.91 | 0.91 | 0.91 | 2.33 | 2.33 | 2.59 | 2.79 | 1.31 | 1.40 | |||||
| Debt Ratio | 1.06 | 1.05 | 1.05 | 1.04 | 1.04 | 1.00 | 0.86 | 0.85 | 0.84 | 0.83 | 0.83 | 0.82 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.13 | 0.13 | 0.03 | 0.00 | 0.03 | 0.01 | 0.12 | 0.16 | 0.18 | 0.18 | 0.02 | 0.02 | |||||
| Days Sales Outstanding TTM | 13.47 | 12.88 | 83.92 | 624.34 | 76.05 | 579.82 | 37.47 | 27.32 | 25.07 | 28.08 | 260.32 | 227.17 | |||||
| Receivables Turnover TTM | 27.09 | 28.33 | 4.35 | 0.58 | 4.80 | 0.63 | 9.74 | 13.36 | 14.56 | 13.00 | 1.40 | 1.61 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 2.42 | 1.02 | -10.57 | -10.61 | -10.73 | -8.99 | 2.82 | 2.74 | 3.21 | 3.46 | 3.58 | 3.93 | |||||
| Free Cash Flow Per Share TTM | 6.25 | 6.61 | 6.64 | 6.62 | 6.47 | 6.38 | 4.84 | 2.09 | 1.34 | 0.68 | 1.14 | 1.86 | |||||
| Dividend Per Share TTM | 4.27 | 4.78 | 5.28 | 5.78 | 6.28 | 6.29 | 6.27 | 6.27 | 6.28 | 6.27 | 15.14 | 15.04 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 97.37% | 97.35% | 90.51% | 28.95% | 91.22% | 44.27% | 97.14% | 97.25% | 96.50% | 95.47% | 46.87% | 45.51% | |||||
| Operating Profit Margin TTM | 47.92% | 48.66% | 181.45% | 1,401.32% | 175.56% | 1,103.13% | 47.39% | 34.15% | 32.87% | 33.93% | 326.02% | 308.61% | |||||
| Net Profit Margin TTM | 25.14% | 10.41% | -394.70% | -3,051.32% | -387.57% | -2,032.81% | 27.28% | 19.47% | 20.28% | 21.52% | 211.44% | 209.84% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 249.05% | 2,120.83% | -74.03% | -97.52% | -82.45% | -97.25% | 513.76% | 652.52% | 911.47% | 901.58% | -69.43% | -1.09% | |||||
| Net Income Growth (1Y) | -122.64% | -111.38% | -475.75% | -489.42% | -435.34% | -359.85% | -20.81% | -30.19% | -16.57% | -10.33% | -3.84% | 10.35% | |||||
| EPS Growth (1Y) | -122.59% | -111.35% | -475.75% | -489.42% | -434.57% | -359.85% | -20.99% | -30.35% | -16.76% | -10.53% | -4.06% | 10.10% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 33.09 | 85.00 | -8.77 | -9.19 | -9.15 | -9.37 | 38.37 | 32.18 | 29.22 | 29.12 | 22.22 | 24.62 | |||||
| P/B | -18.25 | -23.08 | -27.13 | -30.85 | -34.16 | -274.97 | 8.90 | 6.78 | 6.74 | 6.85 | 5.17 | 5.96 | |||||
| P/S TTM | 8.32 | 8.85 | 34.61 | 280.50 | 35.46 | 190.47 | 10.47 | 6.26 | 5.93 | 6.27 | 46.97 | 51.66 | |||||
| Market Cap | 35.04B | 37.74B | 40.50B | 42.64B | 42.80B | 36.57B | 47.15B | 38.32B | 40.77B | 43.74B | 34.48B | 42.00B | |||||
| Enterprise Value | 59.40B | 61.77B | 64.56B | 66.65B | 66.90B | 60.33B | 70.84B | 61.71B | 63.88B | 66.38B | 56.92B | 63.93B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 2.73B | 2.88B | 2.89B | 2.88B | 2.82B | 2.77B | 2.11B | 911.00M | 581.00M | 294.00M | 494.00M | 808.00M | |||||
| Net Debt | 24.36B | 24.03B | 24.06B | 24.02B | 24.10B | 23.76B | 23.69B | 23.39B | 23.12B | 22.64B | 22.44B | 21.93B | |||||
Per-Share and Margin | |||||||||||||||||
| EPS TTM | |||||||||||||||||
| Adjusted EPS TTM | |||||||||||||||||
| Cash Flow Per Share TTM | |||||||||||||||||
| Pretax Margin TTM | |||||||||||||||||
| Stock Comp to Revenue TTM | |||||||||||||||||
Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
| Average Receivables | |||||||||||||||||
| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
| Cash Conversion Cycle TTM | |||||||||||||||||
| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
| Dividends Paid Growth (3Y) | |||||||||||||||||
| Dividends Paid Growth (5Y) | |||||||||||||||||
| EPS Growth (3Y) | |||||||||||||||||
| EPS Growth (5Y) | |||||||||||||||||
| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
| Net Profit Margin Growth (3Y) | |||||||||||||||||
| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
| Altman C | |||||||||||||||||
| Altman D | |||||||||||||||||
| Altman E | |||||||||||||||||
| Altman Z-Score | |||||||||||||||||
| ROA TTM | |||||||||||||||||
| ROE TTM | |||||||||||||||||
| NOPAT TTM | |||||||||||||||||
| ROIC TTM | |||||||||||||||||
| Effective Tax Rate TTM | |||||||||||||||||
| Payout Ratio TTM | |||||||||||||||||
| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
| Dividend Yield TTM | |||||||||||||||||
| Free Cash Flow Yield TTM | |||||||||||||||||
| EV EBITDA TTM | |||||||||||||||||
| EV EBIT TTM | |||||||||||||||||
| Stock Compensation TTM | |||||||||||||||||
| Adjusted Net Income TTM | |||||||||||||||||
| Billings TTM | |||||||||||||||||
| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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