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Companies / Real Estate / Crown Castle
CCI

Crown Castle

Real EstateREITsS&P 500
Ticker CCIHOUSTON, TXFiscal year ends DecemberBook value per share $-7.50Diluted shares 436.0M

Crown Castle Inc. (NYSE: CCI) owns, operates and leases shared communications infrastructure, with its continuing business focused on providing wireless carriers access to space and capacity on towers through long-term contracts. Its customers are primarily national wireless carriers; T-Mobile, AT&T and Verizon… From the company’s description.

In fiscal 2025, Crown Castle reported revenue of $4.26B, down 35.1% from fiscal 2024, and net income of $1.10B. Its operating margin was 48.7%, and operations generated $3.06B in cash. Over the twelve months to Jun 30, 2026, revenue was $4.16B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$4.26BFY2025
−35.1% year over year
Last 12 mo $4.16B
48.66%FY2025
+93.4 percentage points
Last 12 mo 47.66%
$1.10BFY2025
+128.3% year over year
-27.83%FY2025
−2769.2 percentage points
Last 12 mo -26.36%
Cash & financing
$3.06BFY2025
+3.9% year over year
Last 12 mo $2.62B
$2.88BFY2025
+67.1% year over year
Last 12 mo $2.41B
-14.89FY2025
Was -181.06× a year earlier
Last 12 mo -5.58
437.0MFY2025
+0.7% year over year
Last 12 mo 436.0M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Crown Castle does

In the company’s own words

Crown Castle Inc. (NYSE: CCI) owns, operates and leases shared communications infrastructure, with its continuing business focused on providing wireless carriers access to space and capacity on towers through long-term contracts. Its customers are primarily national wireless carriers; T-Mobile, AT&T and Verizon Wireless together accounted for approximately 90% of 2025 site rental revenue. Crown Castle also provides ancillary site development services, including site acquisition, engineering, zoning and permitting. Following the planned sale of its Fiber Business, its sole reportable segment is Towers; the Fiber Business, comprising small cells and fiber solutions, is classified as discontinued operations pending the transaction’s expected 2026 closing. At December 31, 2025, the company owned more than 40,000 towers, while its broader portfolio also included approximately 105,000 small cell nodes and 90,000 route miles of fiber. Site rental revenue represented 95% of 2025 net revenue. Crown Castle’s tower portfolio was assembled in part through acquisitions of infrastructure from major U.S. wireless carriers beginning in 1999. Its website is www.crowncastle.com.

Company details
Sector
Real Estate
Industry (SIC)
REITs
Headquarters
HOUSTON, TX
Fiscal year end
December
CIK
1051470
SIC
6798

Financial performance, year by year

Fiscal 2013–2025 · USD
$-4.99B$-1.73B$1.54B$4.81B$8.07B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Crown Castle — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

651
funds hold it
0 of 35
superinvestors hold it
$15.82B
held by funds, at market
46.1%
of shares held by funds
27
bond issues held by funds

Largest fund holders · Crown Castle’s weight in each

VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.05%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.05%of fund net assets
VANGUARD MID-CAP INDEX FUND
VO · VANGUARD INDEX FUNDS
0.32%of fund net assets
VANGUARD EQUITY INCOME FUND
VEIPX · VANGUARD FENWAY FUNDS
0.94%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Crown Castle’s bonds, as funds hold them

Funds report holding 27 issues of Crown Castle’s debt, $3.73B at market value — what funds hold, not the company’s total debt. Weighted-average coupon 3.82%, maturing 2026 to 2051.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Crown Castle and its peers compare on margins and cash generation over ten years?”
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