Crown Castle Inc. is a real estate investment trust that owns and operates a broad portfolio of wireless communications assets in the United States, including around 40,000 cell towers, small cells, and extensive fiber networks. It generates revenue through long-term leasing agreements with major carriers like AT&T, Verizon, and T-Mobile. Under the leadership of CEO Jay A. Brown, the company is focused on expanding 5G and upgrading network capabilities. Its robust asset base and strategic investments position it well against competitors in a rapidly evolving telecom landscape.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Property Revenue
4,049,000
4,268,000
4,313,000
6,289,000
Service and Other Revenue
215,000
192,000
421,000
697,000
Total Revenues
4,264,000
4,460,000
4,734,000
6,986,000
Property Expenses
992,000
983,000
961,000
1,602,000
Service and Other Expenses
113,000
107,000
304,000
466,000
Total Property Expenses
1,105,000
1,090,000
1,265,000
2,068,000
Gross Profit
3,159,000
3,370,000
3,469,000
4,918,000
Selling, General & Administrative Expenses
383,000
435,000
502,000
750,000
Depreciation & Amortization Expenses
690,000
736,000
787,000
1,707,000
Other Operating Expenses
11,000
81,000
83,000
36,000
Operating Profit
2,075,000
2,118,000
2,097,000
2,425,000
Interest and Investment Income
13,000
20,000
15,000
3,000
Interest Expense
(972,000)
(932,000)
(849,000)
(699,000)
Non-Operating Income
(3,000)
26,000
5,000
38,000
Total Non-Operating Income
(962,000)
(886,000)
(829,000)
(658,000)
Income Before Provision for Income Taxes
1,113,000
1,232,000
1,268,000
1,767,000
Provision for Income Taxes
16,000
18,000
21,000
16,000
Consolidated Net Income
1,097,000
1,214,000
1,247,000
1,751,000
Net Income Attributable to Discontinued Operations
(1,318,000)
(10,130,000)
530,000
—
Net Income Attributable to Common Shareholders
(221,000)
(8,916,000)
1,777,000
1,751,000
Basic EPS
1.02
-8.98
3.46
3.87
Diluted EPS
1.01
-8.98
3.46
3.86
Basic Weighted Average Shares Outstanding
435,000
434,000
434,000
433,000
Diluted Weighted Average Shares Outstanding
437,000
434,000
434,000
434,000
Shares Outstanding
435,000
435,000
434,000
433,000
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
99,000
100,000
105,000
156,000
Total Cash and Cash Equivalents
99,000
100,000
105,000
156,000
Accounts Receivable
172,000
129,000
481,000
593,000
Total Trade Receivables
172,000
129,000
481,000
593,000
Restricted Cash
170,000
170,000
171,000
166,000
Other Current Assets
703,000
691,000
275,000
302,000
Total Current Assets
1,144,000
1,090,000
1,032,000
1,217,000
Net Property, Plant & Equipment
11,746,000
12,177,000
21,853,000
21,933,000
Net Intangible Assets
861,000
1,037,000
3,179,000
3,596,000
Goodwill
5,127,000
5,127,000
10,085,000
10,085,000
Other Long-Term Assets
12,640,000
13,305,000
2,378,000
2,090,000
Total Assets
31,518,000
32,736,000
38,527,000
38,921,000
Accounts Payable
71,000
48,000
252,000
236,000
Accrued Expenses
235,000
244,000
219,000
183,000
Current Portion of Long-Term Debt
2,783,000
603,000
835,000
819,000
Current Portion of Leases
268,000
264,000
332,000
350,000
Unearned Revenue
192,000
141,000
605,000
736,000
Other Current Liabilities
930,000
877,000
342,000
407,000
Total Current Liabilities
4,479,000
2,177,000
2,585,000
2,731,000
Long-Term Debt
21,554,000
23,451,000
22,086,000
20,910,000
Leases
4,961,000
5,062,000
5,561,000
5,881,000
Other Long-Term Liabilities
2,159,000
2,179,000
1,914,000
1,950,000
Total Long-Term Liabilities
28,674,000
30,692,000
29,561,000
28,741,000
Total Liabilities
33,153,000
32,869,000
32,146,000
31,472,000
Common Stock
4,000
4,000
4,000
4,000
Additional Paid-in Capital
18,527,000
18,393,000
18,270,000
18,116,000
Accumulated Other Comprehensive Income
(5,000)
(5,000)
(4,000)
(5,000)
Retained Earnings
(20,161,000)
(18,525,000)
(11,889,000)
(10,666,000)
Total Common Shareholders' Equity
(1,635,000)
(133,000)
6,381,000
7,449,000
Total Shareholders' Equity
(1,635,000)
(133,000)
6,381,000
7,449,000
Total Liabilities and Shareholders' Equity
31,518,000
32,736,000
38,527,000
38,921,000
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
1,103,000
1,162,000
1,237,000
1,675,000
Depreciation & Amortization
722,000
768,000
816,000
1,724,000
Share-Based Compensation Expense
73,000
84,000
102,000
156,000
Other Adjustments
7,000
48,000
33,000
70,000
Changes in Trade Receivables
3,000
35,000
152,000
(49,000)
Changes in Accounts Payable
17,000
(19,000)
(9,000)
(5,000)
Changes in Accrued Expenses
(9,000)
25,000
36,000
—
Changes in Other Operating Activities
1,141,000
840,000
759,000
(693,000)
Cash from Operating Activities
3,057,000
2,943,000
3,126,000
2,878,000
Capital Expenditure
(182,000)
(176,000)
(243,000)
(1,310,000)
Payments for Business Acquisitions
—
(8,000)
(96,000)
(35,000)
Other Investing Activities
(976,000)
(1,036,000)
(1,180,000)
(7,000)
Cash from Investing Activities
(1,158,000)
(1,220,000)
(1,519,000)
(1,352,000)
Issuance of Short-Term Debt
1,200,000
—
3,613,000
3,495,000
Repayments of Short-Term Debt
(255,000)
(670,000)
(4,248,000)
(2,855,000)
Net Issuance / (Repayments) of Short-Term Debt
945,000
(670,000)
(635,000)
640,000
Issuance of Long-Term Debt
—
1,244,000
3,843,000
748,000
Repayments of Long-Term Debt
(1,318,000)
(849,000)
(829,000)
(1,348,000)
Net Issuance / (Repayments) of Long-Term Debt
(1,318,000)
395,000
3,014,000
(600,000)
Repurchases of Common Shares
(23,000)
(33,000)
(30,000)
(65,000)
Net Issuance / (Repurchases) of Common Shares
(23,000)
(33,000)
(30,000)
(65,000)
Common Share Dividends Paid
(2,080,000)
(2,729,000)
(2,723,000)
(2,602,000)
Other Financing Activities
590,000
1,329,000
(1,280,000)
962,000
Cash from Financing Activities
(1,886,000)
(1,708,000)
(1,654,000)
(1,665,000)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
—
(1,000)
1,000
—
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash