Loadingβ¦
Crown Castle Inc. owns, operates and leases approximately 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service Β bringing information, ideas and innovations to the people and businesses that need them. Crown Castle Inc. was incorporated in 1994 in Delaware.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $4.3B | $2.8B | $444M | $2.9B | -27.2% | -4.4% | -111.4% |
| 2024 | $4.5B | $2.8B | $-3.9B | $2.8B | 2934.6% | -5.8% | -359.9% |
| 2023 | $4.7B | $2.9B | $1.5B | $2.9B | 23.5% | -32.2% | -10.3% |
| 2022 | $7.0B | $4.1B | $1.7B | $1.6B | 22.5% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 6,986 | 4,734 | 4,460 | 4,264 |
| Cost Of Revenue | - | 2,068 | 1,265 | 1,090 | 1,105 |
| Gross Profit | - | 4,918 | 3,469 | 3,370 | 3,159 |
| Operating Expense | - | 2,485 | 1,289 | 1,171 | 1,073 |
| Operating Income | - | 2,433 | 2,180 | 2,199 | 2,086 |
| EBITDA | - | 4,071 | 2,865 | 2,816 | 2,750 |
| EBIT | - | 2,364 | 2,078 | 2,080 | 2,060 |
| Pretax Income | - | 1,691 | 1,258 | 1,180 | 1,119 |
| Tax Provision | - | 16 | 21 | 18 | 16 |
| Net Income | - | 1,675 | 1,502 | -3,903 | 444 |
| Net Income Common Stockholders | - | 1,675 | 1,502 | -3,903 | 444 |
| Total Expenses | - | 4,553 | 2,554 | 2,261 | 2,178 |
| Interest Expense | - | 673 | 820 | 900 | 941 |
| Interest Income | - | 3 | 15 | 20 | 13 |
| Selling General And Administration | - | 750 | 502 | 435 | 383 |
| Normalized EBITDA | - | 4,107 | 2,948 | 2,897 | 2,761 |
| Normalized Income | - | 1,710.66 | 1,318.67 | 1,241.79 | 1,113.85 |
| Market Cap | 37,675.96 | 37,675.96 | 37,675.96 | 37,675.96 | 37,675.96 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Crown Castle Inc.this co. | CCI | $37.6B | 84.86β premium | -23.04 | -27.2% | 24.42 |
| CBRE Group, Inc. | CBRE | $44.2B | 37.53 | 4.89 | 13.0% | 25.48 |
| Ventas, Inc. | VTR | $38.2B | 158.16 | 3.17 | 2.0% | 23.00 |
| Iron Mountain Incorporated | IRM | $34.2B | 238.72 | -35.18 | -14.7% | 25.25 |
| VICI Properties Inc. | VICI | $30.2B | 10.95 |
| - |
| - |
| - |
| - |
| - |
| 1.09 |
| 10.0% |
| 12.95 |
| Extra Space Storage Inc. | EXR | $30.2B | 30.81 | 2.23 | 7.3% | 18.17 |
| Equity Residential | EQR | $23.6B | 20.83 | 2.12 | 10.2% | 12.69 |
| SBA Communications Corporation | SBAC | $23.6B | 22.09 | -4.80 | -21.7% | 19.06 |
| Weyerhaeuser Company | WY | $18.0B | 55.70 | 1.91 | 3.4% | 22.25 |
| Peer Median | - | 34.17 | 2.02 | 5.3% | 20.65 | |