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CCI

Crown Castle Inc.

CCI

Crown Castle Inc. • NYSE
$91.27 ▲ 0.79% (+0.71)
Market Cap $39.74 B
52w High $115.76
52w Low $84.20
Dividend Yield 5.25%
P/E -9.96
Volume 1.28M
Outstanding Shares 435.48M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.072B ▲ $267M ▼ $323M ▲ 30.131% ▲ $0.74 ▲ $695M ▲
Q2-2025 $1.06B ▼ $276M ▲ $291M ▲ 27.453% ▲ $0.67 ▲ $679M ▼
Q1-2025 $1.061B ▼ $272M ▼ $-464M ▲ -43.732% ▲ $-1.07 ▲ $694M ▲
Q4-2024 $1.649B ▼ $5.69B ▲ $-4.768B ▼ -289.145% ▼ $-10.96 ▼ $-4.094B ▼
Q3-2024 $1.652B $648M $303M 18.341% $0.7 $1.466B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $233M ▲ $31.501B ▼ $32.994B ▼ $-1.493B ▼
Q2-2025 $94M ▲ $31.636B ▼ $33.018B ▲ $-1.382B ▼
Q1-2025 $60M ▼ $31.76B ▼ $33.013B ▲ $-1.253B ▼
Q4-2024 $119M ▼ $32.736B ▼ $32.869B ▲ $-133M ▼
Q3-2024 $194M $38.043B $32.747B $5.296B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $46M ▼ $714M ▼ $-282M ▼ $-451M ▲ $-19M ▼ $671M ▼
Q2-2025 $291M ▲ $832M ▲ $-268M ▼ $-568M ▼ $-4M ▲ $792M ▲
Q1-2025 $-546M ▲ $641M ▼ $-255M ▲ $-403M ▲ $-17M ▲ $601M
Q4-2024 $-4.768B ▼ $877M ▲ $-273M ▲ $-680M ▼ $-76M ▼ $601M ▲
Q3-2024 $303M $699M $-297M $-362M $40M $402M

Revenue by Products

Product Q1-2024Q2-2024Q3-2024Q4-2024
Fiber
Fiber
 $530.00M ▲$520.00M ▼$540.00M ▲$530.00M ▼
Towers
Towers
 $1.11Bn ▲$1.11Bn ▲$1.12Bn ▲$1.12Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Over the past few years, Crown Castle’s revenue has been fairly stable, with only modest growth and then a recent dip. Profitability looked healthy up until 2024, when the company swung to a sizable loss at the operating and net income level. That pattern suggests 2024 likely included significant one‑off or restructuring charges tied to its strategic shift, rather than a simple collapse in the underlying tower business. Still, the move from consistent profits to a deep loss is a clear warning flag that earnings quality and volatility deserve extra attention, especially while the business model is being refocused.

Balance Sheet

Balance Sheet The balance sheet shows a company that is very asset-heavy, heavily financed with debt, and now carrying negative equity. Total assets have been fairly steady, but debt has crept higher over time, while equity has been chipped away to the point of turning slightly negative. Cash on hand is very small relative to the size of the business, underscoring reliance on credit markets and recurring cash flow. Overall, this is a highly leveraged capital structure, which can work in stable times but leaves less cushion if interest rates stay high or operating conditions weaken.

Cash Flow

Cash Flow Despite the accounting loss in 2024, cash generation from operations has remained quite steady over the last several years. After funding its capital spending, Crown Castle has consistently produced positive free cash flow, with a gentle upward trend as investment levels have eased a bit. This suggests the core tower business still throws off reliable cash, even when reported earnings are noisy. The main watchpoints are how much future capital will be needed to support growth and how dependent the company remains on borrowing versus internally generated cash to fund its obligations and shareholder payouts.

Competitive Edge

Competitive Edge Crown Castle benefits from a strong competitive position rooted in scale, location, and long-term customer relationships. Its large portfolio of U.S. towers in dense, high-demand markets is difficult and time-consuming to replicate, given zoning hurdles, capital needs, and limited suitable sites. The shared-tower model, with multiple tenants on each site and long contracts with major wireless carriers, supports sticky, recurring revenue and attractive unit economics. Risks include heavy dependence on a small group of big carriers, regulatory changes, and the pace of 5G investment, but the fundamental moat around prime tower locations remains substantial.

Innovation and R&D

Innovation and R&D The company’s innovation is more about infrastructure strategy than traditional lab-style R&D. Crown Castle focuses on enabling 5G and future technologies by upgrading tower capacity and exploring edge computing at tower sites, which could open new ways to support data-intensive and low-latency applications. Its move to become a pure-play tower operator is itself a strategic innovation, aiming to simplify the business and sharpen execution. Experiments around edge infrastructure, partnerships, and supporting AI/IoT traffic are promising but still emerging, so the long-term payoff and required investment levels remain uncertain.

Summary

Crown Castle sits at the center of U.S. wireless connectivity, with a deep physical footprint and a business model built on long-term, recurring leases. Financially, it combines steady cash flow with a now-stretched balance sheet and a recent step back in reported earnings, likely tied to restructuring and non‑recurring items. Strategically, the shift to a pure tower focus aligns the company tightly with ongoing 5G and data growth, reinforcing its competitive moat but concentrating its exposure to the tower cycle and a handful of large customers. The key tension to monitor is whether its strong, contract-backed cash flows and infrastructure advantages can comfortably offset the risks from high leverage, changing carrier spending patterns, and the uncertain economics of newer initiatives like edge computing.

NEWS

November 18, 2025 · 6:00 AM UTC

Canadian Copper Provides Murray Brook Project Update

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November 5, 2025 · 4:19 PM UTC

Crown Castle Declares Quarterly Common Stock Dividend

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October 22, 2025 · 4:15 PM UTC

Crown Castle Reports Third Quarter 2025 Results and Increases Outlook for Full Year 2025

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October 8, 2025 · 4:26 PM UTC

Crown Castle Announces Third Quarter 2025 Earnings Conference Call Details

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September 5, 2025 · 4:15 PM UTC

Crown Castle to Present at the 2025 RBC Capital Markets Global Communications Infrastructure Conference

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