Crown Castle

Real Estate Telecom Tower REITs Houston, Texas Last filing Feb 23, 2026 · FY2025

                    Revenue
                    FY2025
                
$4.3B
                    3y CAGR -15.2%
                    
                    P3
                    
                    n/a
                    
                    Net income
                    FY2025
                
$444.0M
                    Net margin +10.4%
                    
                    P33
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$31.5B
                    ROA +1.4%
                    
                    P23
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$3.1B
                    
                    n/a

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

31 accounts · 1 year

Total assets $31.5B

Total liabilities $33.2B

Shareholders equity $-1.6B

Account	2025	Trend
Assets
Cash and Cash Equivalents	2.3%
Accounts Receivable	4.0%
Prepaid Expenses	1.9%
Other Current Assets	0.5%
Total Current Assets	26.8%
Property,Plant and Equipment	147.1%
Operating Lease Assets	128.4%
Goodwill	120.2%
Intangible Assets	0.0%
Other Noncurrent Assets	1.4%
Total Assets	739.2%
Liabilities
Accounts Payable	1.7%
Accrued Liabilities	5.5%
Deferred Revenue	4.5%
Current Portion of Long Term Debt	65.3%
Operating Lease Liabilities	6.3%
Other Current Liabilities	3.9%
Total Current Liabilities	105.0%
Long Term Debt	0.0%
Deferred Revenue Noncurrent	4.5%
Operating Lease Liabilities Noncurrent	116.3%
Deferred Tax Liabilities	0.0%
Other Noncurrent Liabilities	14.2%
Total Liabilities	777.5%
Equity
Preferred Stock	0.0%
Common Stock	0.1%
Additional Paid In Capital	434.5%
Retained Earnings	-472.8%
Accumulated Other Comprehensive Income	-0.1%
Total Stockholders Equity	-38.3%
Total Liabilitiesand Equity	739.2%

Income Statement

Revenue, expense, and profitability

19 accounts · 1 year

Revenue $4.3B

Operating income $2.1B

Net income $444.0M

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	100.0%
Expenses Cost of Revenue	2.7%
Expenses Selling,General and Administrative	9.0%
Expenses Depreciation and Amortization	4.2%
Expenses Share Based Compensation	1.7%
Expenses Restructuring and Asset Impairment	0.0%
Expenses Operating Expenses	51.3%
Other Income Expense Operating Income	48.7%
Other Income Expense Interest Income	0.3%
Other Income Expense Interest Expense	22.8%
Other Income Expense Other Income/expense	0.1%
Other Income Expense Income Before Tax	26.2%
Income Tax Income Tax Expense	0.4%
net Income net Income	10.4%
net Income Comprehensive Income	10.4%
Earnings Per Share Basic Eps	0.0%
Earnings Per Share Diluted Eps	0.0%
Earnings Per Share Weighted Average Shares Basic	10.2%
Earnings Per Share Weighted Average Shares Diluted	10.2%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 1 year

Operating cash flow $3.1B

Investing cash flow $-1.2B

Financing cash flow $-1.9B

Account	2025	Trend
CashFlow
Operating Activities net Income	10.4%
Operating Activities Depreciation and Amortization	16.2%
Operating Activities Stock Based Compensation	1.7%
Operating Activities Deferred Income Taxes	0.0%
Operating Activities Changes In Operating Assets and Liabilities	0.0%
Operating Activities Other Non Cash Items	-1.3%
Operating Activities net Cash From Operating Activities	71.7%
Investing Activities Business Acquisitions	0.0%
Investing Activities Other Investing Activities	-0.1%
Investing Activities net Cash From Investing Activities	-27.2%
Financing Activities Proceeds From Debt	0.0%
Financing Activities Repayment of Debt	-28.1%
Financing Activities Repurchase of Common Stock	-0.5%
Financing Activities Dividends Paid	-48.8%
Financing Activities Other Financing Activities	0.0%
Financing Activities net Cash From Financing Activities	-44.2%
Cash Reconciliation Effect of Exchange Rate On Cash	7.2%
Cash Reconciliation net Change In Cash	0.0%
Cash Reconciliation Cash At Beginning of Period	7.2%
Cash Reconciliation Cash At End of Period	7.2%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+97.3%
Operating margin	+48.7%
Net margin	+10.4%
FCF margin	—
Growth
Revenue CAGR (3y)	-15.2%
Returns
ROE	-27.2%
ROA	+1.4%
ROIC	+195.0%
Liquidity
Current ratio	0.26x
Quick ratio	0.06x
Leverage
D/E	-20.28x
Interest coverage	2.13x
Efficiency
Asset turnover	0.14x
Cash conversion cycle	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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Crown Castle

Assets, liabilities, and equity

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Margins, returns, liquidity, leverage, efficiency

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