CROWN CASTLE INC. (CCI)
As-reported financials and recent SEC filings for CROWN CASTLE INC., latest fiscal period FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.
About CROWN CASTLE INC.
Crown Castle Inc. owns, operates, and leases shared communications infrastructure across the U.S., including over 40,000 towers, approximately 105,000 small cell nodes, and about 90,000 route miles of fiber. The company primarily provides long-term access to its towers through lease and service agreements to wireless carriers such as T-Mobile, AT&T, and Verizon Wireless. Crown Castle operates as a real estate investment trust and focuses on generating recurring site rental revenues from its tower portfolio.
Snapshot
Fundamentals are from SEC filings. P/E and market cap are derived from recent market prices, refreshed on a rolling basis (typically within the past week).
What changed at Crown Castle
- Revenue fell 4.4% to $4.3B in FY2025, after a 5.8% decline the year before.
- Operating margin is 48.7% in FY2025, +17.1 pp against 31.6% in FY2021.
- Most recent quarter Q1 FY2026: revenue $1.0B, down 4.8% from Q1 FY2025.
- Free cash flow was $2.9B in FY2025, 67.4% of revenue.
- Net income turned positive at $444M in FY2025, from a $3.9B loss in FY2024.
Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.
Peer comparison
Where Crown Castle’s fundamentals sit among the 165 REITs. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).
Crown Castle’s FCF margin of 67.4% is the highest of the 27 REITs reporting it.
1 open-market insider buy totaling $73,997 in the last 90 days. For context, about 16% of companies in the universe saw any open-market insider buying in the same window. Browse insider activity →
Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.
Institutional ownership
Held by 3 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F (latest Q1 2026).
| Investor | As of | Position value | Shares | Change |
|---|---|---|---|---|
| Citadel Advisorsquant | Q1 2026 | $158.9M | 2.0M | Added |
| Elliott Investment Management | Q1 2026 | $99.6M | 1.2M | Held |
| Renaissance Technologiesquant | Q1 2026 | $69.6M | 856.2K | Added |
| Millennium Managementquant | Q1 2026 | $55.2M | 678.4K | Added |
| Two Sigma Investmentsquant | Q1 2026 | $37.0M | 455.6K | New |
| Point72 Asset Managementquant | Q1 2026 | $19.5M | 240.4K | Added |
| Gotham Asset Management | Q1 2026 | $15.1M | 185.2K | Added |
| AQR Capital Managementquant | Q1 2026 | $7.3M | 91.5K | Reduced |
| Bridgewater Associates | Q1 2026 | $989,217 | 12.2K | Added |
| D. E. Shawquant | Q1 2026 | $859,040 | 10.6K | Added |
From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.
Recent insider activity
Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.
| Trade date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
2026-05-05 filed 2026-05-06 | Stephens Kevin ADirector | Buy | 820 | $90.24 | $74K |
Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.
Short interest
Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 2026-07-15 | 12.1M | -4.4% | 3.09 |
| 2026-06-30 | 12.6M | -0.1% | 2.42 |
| 2026-06-15 | 12.6M | -1.7% | 2.77 |
| 2026-05-29 | 12.8M | -6.8% | 3.61 |
| 2026-05-15 | 13.8M | +16.8% | 3.90 |
| 2026-04-30 | 11.8M | +11.3% | 3.86 |
| 2026-04-15 | 10.6M | +4.8% | 3.47 |
| 2026-03-31 | 10.1M | -1.2% | 3.24 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.
Income statement (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $4.26B | $4.46B | $4.73B | $6.99B | $6.34B |
| Gross profit | — | — | — | — | — |
| Operating income | $2.08B | $2.12B | $2.10B | $2.42B | $2.00B |
| Net income | $444.0M | $-3.90B | $1.50B | $1.68B | $1.10B |
| Diluted EPS | $1.01 | $-8.98 | $3.46 | $3.86 | $2.53 |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.
Balance sheet (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | $99.0M | $100.0M | $105.0M | $156.0M | $292.0M |
| Current assets | $1.14B | $1.09B | $1.03B | $1.22B | $1.25B |
| Total assets | $31.52B | $32.74B | $38.53B | $38.92B | $39.04B |
| Current liabilities | $4.48B | $2.18B | $2.58B | $2.73B | $2.03B |
| Long-term debt | $21.55B | $23.45B | $22.09B | $20.91B | $20.56B |
| Total liabilities | $33.15B | $32.87B | $32.15B | $31.47B | $30.78B |
| Total equity | $-1.64B | $-133.0M | $6.38B | $7.45B | $8.26B |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.
Cash flow (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Operating cash flow | $3.06B | $2.94B | $3.13B | $2.88B | $2.79B |
| Capital expenditure | $182.0M | $176.0M | $243.0M | $1.31B | $1.23B |
| Free cash flow | $2.88B | $2.77B | $2.88B | $1.57B | $1.56B |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.
Quarterly trend (as reported)
| Quarter | Revenue | Revenue YoY | Net income | Diluted EPS |
|---|---|---|---|---|
| Q1 FY2026 | $1.01B | -4.8% | $151.0M | $0.34 |
| Q4 FY2025 | $1.07B | -4.3% | $294.0M | $0.67 |
| Q3 FY2025 | $1.07B | -4.3% | $323.0M | $0.74 |
| Q2 FY2025 | $1.06B | -4.2% | $291.0M | $0.67 |
| Q1 FY2025 | $1.06B | -4.8% | $-464.0M | $-1.07 |
| Q4 FY2024 | $1.12B | — | $-4.77B | $-11.06 |
| Q3 FY2024 | $1.12B | -32.8% | $303.0M | $0.70 |
| Q2 FY2024 | $1.11B | -40.7% | $251.0M | $0.58 |
Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.
Company facts
Recent SEC filings
Largest reit peers
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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.