CROWN CASTLE INC.

10-K & 10-Q Filings

Crown Castle Inc. is a leading provider of shared communications infrastructure in the United States. The company owns, operates, and leases more than 40,000 towers and other structures, approximately 115,000 small cells, and approximately 90,000 route miles of fiber primarily supporting small cells and fiber solutions. Crown Castle's business strategy is to create long-term stockholder value by growing cash flows from its existing communications infrastructure, returning cash generated by operating activities to common stockholders in the form of dividends, and investing capital efficiently to grow cash flows and long-term dividends per share. The company operates in two segments: Towers and Fiber. The Towers segment provides access to shared communications infrastructure via long-term tenant contracts, while the Fiber segment offers small cells and fiber solutions. Crown Castle's website is investor.crowncastle.com, and its ticker symbol is CCI.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$2032.73
2432.68
3022.38
3689.88
3663.85
3921.22
4355.60
5423.00
5763.00
6360.00
6340.00
6986.00
6981.00
1773.00
1641.00
10.83%-7.45%Cost of Revenue (-)
$588.38
728.99
1046.80
1350.47
1321.43
1440.52
1563.70
437.00
524.00
1969.00
1993.00
2068.00
1980.00
519.00
464.00
10.64%-10.60%Gross Profit (+)
$1444.34
1703.69
1975.59
2339.42
2342.43
2480.70
2791.90
4986.00
5239.00
3871.00
4347.00
4918.00
5001.00
1254.00
1177.00
10.90%-6.14%Selling, General & Administrative (-)
$173.49
212.57
238.70
282.70
310.92
371.03
426.70
563.00
614.00
678.00
680.00
750.00
759.00
195.00
183.00
13.09%-6.15%Depreciation & Amortization (-)
$552.95
622.59
774.22
1013.06
1036.18
1108.55
1242.41
1528.00
1572.00
1608.00
1644.00
1707.00
1754.00
431.00
439.00
10.10%1.86%Non-recurring Operating Expenses (-)
$22.29
15.55
14.86
15.04
33.47
34.45
17.32
26.00
19.00
74.00
21.00
34.00
118.00
17.00
14.90%Operating Expenses (-)
$752.04
869.01
1053.79
1345.84
1396.25
1531.49
1747.86
3554.00
3680.00
2732.00
2346.00
2493.00
2632.00
626.00
639.00
11.00%2.08%Costs & Expenses (Total) (-)
$1340.42
1598.00
2100.58
2696.31
2717.67
2972.01
3311.56
3991.00
4204.00
4339.00
4339.00
4561.00
4612.00
1145.00
1103.00
10.85%-3.67%Operating Income/Loss (+)
$692.30
834.68
921.80
993.58
946.18
949.22
1044.05
1432.00
1559.00
1863.00
2001.00
2425.00
2369.00
628.00
538.00
10.80%-14.33%Non-operating Income/Expense (+)
$-4.91
-132.81
-39.64
-32.15
54.78
-60.33
17.23
-100.00
5.00
-98.00
-165.00
-35.00
9.00
-1.00
6.00
700.00%Interest Expense (-)
$
683.00
689.00
657.00
699.00
850.00
202.00
226.00
11.88%Earnings before Tax (+)
$179.81
100.83
292.53
388.13
473.83
373.85
470.59
690.00
839.00
1036.00
1137.00
1691.00
1528.00
425.00
318.00
19.52%-25.18%Tax Expense (-)
$8.35
-100.06
198.63
-10.64
-51.46
16.88
26.04
-19.00
-21.00
-20.00
-21.00
16.00
26.00
7.00
7.00
9.93%0.00%Income/Loss (Continuing Operations) (+)
$171.46
200.89
93.90
398.77
525.29
356.97
444.55
709.00
860.00
1056.00
1158.00
1675.00
1502.00
418.00
311.00
19.82%-25.60%Income/Loss (Discontinued Operations) (+)
$
999.05
-62.00
Profit/Loss (+)
$171.46
200.89
93.90
398.77
1524.34
356.97
444.55
671.00
860.00
1056.00
1096.00
1675.00
1502.00
19.82%Net Income/Loss (NCI) (-)
$0.38
12.30
3.79
8.26
3.34
Net Income/Loss (+)
$171.08
188.58
90.11
390.51
1520.99
356.97
444.55
558.00
747.00
999.00
1096.00
1675.00
1502.00
418.00
311.00
19.85%-25.60%Preferred & Other Distributions (-)
$22.94
2.63
11.36
43.99
43.99
32.99
58.29
-113.00
-113.00
57.00
Net Income/Loss (Common) (+)
$148.14
185.96
78.75
346.52
1477.00
323.98
386.26
558.00
747.00
999.00
1096.00
1675.00
1502.00
418.00
311.00
21.29%-25.60%EPS (Basic)
$0.52
0.64
0.26
1.04
4.44
0.95
1.01
1.35
1.80
2.36
2.54
3.87
3.46
0.97
0.72
17.11%-25.77%EPS (Diluted)
$0.52
0.64
0.26
1.04
4.42
0.95
1.01
1.34
1.79
2.35
2.53
3.86
3.46
0.97
0.71
17.11%-26.80%Weighted Avg Shares (Basic)
283.82
289.29
298.08
332.30
333.00
340.35
381.74
413.00
416.00
423.00
432.00
433.00
434.00
433.00
434.00
3.60%0.23%Weighted Avg Shares (Diluted)
285.95
291.27
299.29
333.26
334.06
340.88
383.22
415.00
418.00
425.00
434.00
434.00
434.00
434.00
435.00
3.54%0.23%Cash
$332.49
1017.30
406.92
323.03
309.54
692.15
435.16
408.00
333.00
376.00
461.00
322.00
276.00
383.00
293.00
-1.54%-23.50%Receivables
$77.26
192.83
249.93
329.23
313.30
373.53
397.58
501.00
596.00
431.00
543.00
720.00
597.00
690.00
503.00
18.58%-27.10%Prepaid Expenses (Current)
$80.53
103.81
132.00
155.07
133.19
128.72
162.37
172.00
107.00
95.00
105.00
102.00
103.00
159.00
130.00
2.07%-18.24%Property, Plant & Equipment (Net)
$4861.23
6917.53
8947.68
9148.31
9580.06
9805.32
12932.89
13676.00
20799.00
21626.00
21951.00
21933.00
21853.00
21974.00
21667.00
13.34%-1.40%Goodwill & Intangibles
$2138.59
3409.09
5323.95
5613.66
5872.29
6108.97
10356.79
10385.00
10150.00
10146.00
10142.00
10146.00
10142.00
13581.00
13158.00
13.85%-3.11%Other Assets
$3055.00
4448.14
5534.43
5573.98
5827.87
5566.41
7944.78
7643.00
6472.00
6094.00
5838.00
5698.00
5556.00
2267.00
2480.00
5.11%9.40%Assets (Total)
$10545.10
16088.71
20594.91
21143.28
22036.24
22675.09
32229.57
32785.00
38457.00
38768.00
39040.00
38921.00
38527.00
39054.00
38231.00
11.40%-2.11%Accounts Payable
$97.45
168.59
210.97
234.61
226.60
285.53
380.61
461.00
503.00
429.00
428.00
419.00
471.00
365.00
376.00
14.03%3.01%Debt (Current)
$32.52
688.06
103.59
113.33
106.22
101.75
115.25
107.00
399.00
129.00
72.00
819.00
835.00
819.00
854.00
31.06%4.27%Debt (Non-current)
$6853.18
10923.19
11490.91
11807.53
12143.02
12069.39
16044.37
16575.00
23532.00
19151.00
20557.00
20910.00
22086.00
21513.00
22560.00
10.24%4.87%Other Liabilities
$1175.09
1357.61
1848.26
2250.58
2471.18
2661.30
3350.26
3608.00
3534.00
9598.00
9725.00
9324.00
8754.00
9134.00
8393.00
18.22%-8.11%Liabilities (Total)
$8158.23
13137.44
13653.73
14406.05
14947.02
15117.98
19890.49
20751.00
27968.00
29307.00
30782.00
31472.00
32146.00
31831.00
32183.00
12.11%1.11%Retained Earnings
$-2811.95
-2625.99
-2535.88
-2815.43
-2458.40
-3378.84
-4504.62
-5732.00
-7365.00
-8472.00
-9753.00
-10666.00
-11889.00
-10929.00
-12261.00
-12.19%AOCI
$-117.00
-61.79
-23.61
15.82
-4.40
-5.89
-3.99
-5.00
-5.00
-4.00
-4.00
-5.00
-4.00
-6.00
-5.00
16.67%Shareholder's Equity
$2386.86
2951.26
6941.18
6737.23
7089.22
7557.11
12339.08
12034.00
10489.00
9461.00
8258.00
7449.00
6381.00
7223.00
6048.00
8.54%-16.27%Liabilities & Equity
$10545.10
16088.71
20594.91
21143.28
22036.24
22675.09
32229.57
32785.00
38457.00
38768.00
39040.00
38921.00
38527.00
39054.00
38231.00
11.40%-2.11%Net Income/Loss
$171.46
200.89
93.90
398.77
418.00
311.00
-25.60%Depreciation & Amortization
$552.95
622.59
774.22
1013.06
1036.18
1108.55
1242.41
1528.00
1573.00
1614.00
1657.00
1724.00
1783.00
438.00
447.00
10.25%2.05%Increase/Decrease in Working Capital
$247.54
239.98
3.97
-113.65
-221.04
-122.66
-221.80
-57.00
-461.00
292.00
-106.00
747.00
371.00
294.00
413.00
3.43%40.48%Share-based Compensation
$32.61
41.94
39.03
51.50
60.77
79.34
91.65
103.00
117.00
138.00
129.00
156.00
157.00
41.00
38.00
13.99%-7.32%Adjustments to Reconcile Net Income
$471.99
571.67
1143.76
1267.36
1268.74
1425.29
1599.64
1831.00
2176.00
1627.00
2041.00
1203.00
1624.00
184.00
288.00
10.85%56.52%Net Cash (Operating)
$643.45
772.56
1237.66
1666.13
1794.03
1782.26
2044.19
2502.00
2698.00
3055.00
2789.00
2878.00
3126.00
606.00
599.00
14.08%-1.16%Capital Expenditure
$385.49
4200.86
5528.24
1246.38
2011.07
1430.74
10488.21
1783.00
-2074.00
1731.00
1340.00
1345.00
1520.00
408.00
321.00
12.11%-21.32%Net Cash (Investing)
$-399.87
-4199.60
-5520.97
-1242.90
-1959.73
-1410.23
-10494.02
-1795.00
-2081.00
-1741.00
-1332.00
-1352.00
-1519.00
-407.00
-320.00
21.38%Increase/Decrease in Debt
$60.63
3903.71
261.12
243.43
274.26
-72.54
3953.44
386.00
6917.00
1033.00
1175.00
1016.00
1138.00
585.00
454.00
27.68%-22.39%Increase/Decrease in Equity
$-301.86
-114.43
3802.01
-37.77
-49.30
1259.40
5776.54
776.00
68.00
-114.00
-112.00
-79.00
-69.00
-38.00
-27.00
28.95%Dividends Paid
$19.49
2.48
668.65
1160.43
1283.15
1538.64
1895.00
-2025.00
2190.00
2373.00
2602.00
2723.00
686.00
688.00
50.93%0.29%Net Cash (Financing)
$-275.71
3786.80
4063.13
-462.99
-935.48
-96.29
8195.15
-733.00
-692.00
-1271.00
-1310.00
-1665.00
-1654.00
-139.00
-261.00
-87.77%Effect of Exchange Rate
$-0.29
1.48
2.21
-8.01
-1.90
-0.10
1.18
-1.00
1.00
-1.00
-200.00%Increase/Decrease in Cash
$-32.41
361.24
-217.97
-47.77
-1101.18
275.74
-254.68
-26.00
-75.00
43.00
147.00
-139.00
-47.00
60.00
18.00
-70.00%Cash (Beginning)
$112.53
80.12
441.36
223.39
175.62
178.81
567.60
440.00
413.00
338.00
381.00
466.00
327.00
327.00
281.00
9.30%-14.07%Cash (Ending)
$80.12
441.36
223.39
175.62
178.81
567.60
314.09
413.00
338.00
381.00
466.00
327.00
281.00
388.00
298.00
11.02%-23.20%NOPAT
$692.30
834.68
921.80
993.58
946.18
949.22
1044.05
1432.00
1559.00
1863.00
2001.00
2425.00
2369.00
628.00
538.00
10.80%-14.33%Gross Margin %
71.05%
70.03%
65.37%
63.40%
63.93%
63.26%
64.10%
91.94%
90.91%
60.86%
68.56%
70.40%
71.64%
70.73%
71.72%
Operating Margin %
34.06%
34.31%
30.50%
26.93%
25.82%
24.21%
23.97%
26.41%
27.05%
29.29%
31.56%
34.71%
33.93%
35.42%
32.78%
NOPAT Margin %
34.06%
34.31%
30.50%
26.93%
25.82%
24.21%
23.97%
26.41%
27.05%
29.29%
31.56%
34.71%
33.93%
35.42%
32.78%
Net Margin %
8.42%
7.75%
2.98%
10.58%
41.51%
9.10%
10.21%
10.29%
12.96%
15.71%
17.29%
23.98%
21.52%
23.58%
18.95%
ROA
6.57%
5.19%
4.48%
4.70%
4.29%
4.19%
3.24%
4.37%
4.05%
4.81%
5.13%
6.23%
6.15%
1.61%
1.41%
ROE
29.00%
28.28%
13.28%
14.75%
13.35%
12.56%
8.46%
11.90%
14.86%
19.69%
24.23%
32.55%
37.13%
8.69%
8.90%
Equity Multiplier
4.42
5.45
2.97
3.14
3.11
3.00
2.61
2.72
3.67
4.10
4.73
5.22
6.04
5.41
6.32
Debt/Equity Ratio
2.88
3.93
1.67
1.77
1.73
1.61
1.31
1.39
2.28
2.04
2.50
2.92
3.59
3.09
3.87
Dividend Payout Ratio %
2.81%
0.30%
67.30%
122.64%
135.18%
147.37%
132.33%
-129.89%
117.55%
118.59%
107.30%
114.94%
109.24%
127.88%
Total Payout
$260.71
-3786.80
-4063.13
462.99
935.48
96.29
-8191.34
733.00
-9010.00
1271.00
1310.00
1665.00
1654.00
139.00
261.00
16.64%87.77%Payout Ratio %
37.66%
-453.68%
-440.78%
46.60%
98.87%
10.14%
-784.58%
51.19%
-577.93%
68.22%
65.47%
68.66%
69.82%
22.13%
48.51%