financial statements

The full income statement, balance sheet, and cash-flow statement for Crown Castle Inc. (CCI), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	215M YoY+12.0%	192M YoY-54.4%	421M YoY-39.6%	697M YoY+12.2%	621M YoY+19.4%
Cost of revenue	113M YoY-93.7%	1.81B YoY-6.7%	1.94B YoY-4.4%	2.02B YoY+3.6%	1.95B YoY+1.3%
Selling, general & administrative	383M YoY-12.0%	435M YoY-13.3%	502M YoY-33.1%	750M YoY+10.3%	680M YoY+0.3%
Restructuring	0.00 YoY-100.0%	70.0M YoY-4.1%	73.0M	0.00	0.00
Amortization of intangibles	177M YoY-10.6%	198M YoY-19.8%	247M YoY-44.6%	446M YoY+0.5%	444M YoY+1.1%
Operating income	2.08B YoY-2.0%	2.12B YoY+1.0%	2.10B YoY-13.5%	2.42B YoY+21.2%	2.00B YoY+7.4%
Interest & investment income	13.0M YoY-35.0%	20.0M YoY+33.3%	15.0M YoY+400.0%	3.00M YoY+200.0%	1.00M YoY-50.0%
Other non-operating income	3.00M YoY+111.5%	-26.0M YoY-420.0%	-5.00M YoY+50.0%	-10.0M YoY+52.4%	-21.0M YoY-320.0%
Pre-tax income	1.12B YoY-5.2%	1.18B YoY-6.2%	1.26B YoY-25.6%	1.69B YoY+43.4%	1.18B YoY+9.6%
Income tax	16.0M YoY-11.1%	18.0M YoY-14.3%	21.0M YoY+31.3%	16.0M YoY-23.8%	21.0M YoY+5.0%
	444M YoY+111.4%	-3.90B YoY-359.9%	1.50B YoY-10.3%	1.68B YoY+52.8%	1.10B YoY+3.8%
Income from continuing operations	1.10B YoY-5.1%	1.16B YoY-6.1%	1.24B YoY-26.1%	1.68B YoY+44.6%	1.16B YoY+9.7%
Discontinued operations	—	—	0.00	0.00 YoY+100.0%	-62.0M
Preferred dividends	—	—	—	0.00	0.00 YoY-100.0%
Net income to common	—	-3.90B YoY-359.9%	1.50B YoY-10.3%	1.68B YoY+52.8%	1.10B YoY+9.7%
	$1.01 YoY+111.2%	-$8.98 YoY-359.5%	$3.46 YoY-10.4%	$3.86 YoY+52.6%	$2.53 YoY+7.7%
EPS (basic)	$1.02 YoY+111.4%	-$8.98 YoY-359.5%	$3.46 YoY-10.6%	$3.87 YoY+52.4%	$2.54 YoY+7.6%
Weighted-avg shares (basic)	435M YoY+0.2%	434M YoY+0.0%	434M YoY+0.2%	433M YoY+0.2%	432M YoY+2.1%
Weighted-avg shares (diluted)	437M YoY+0.7%	434M YoY+0.0%	434M YoY+0.0%	434M YoY+0.0%	434M YoY+2.1%
Dividends per share	$4.75 YoY-24.1%	$6.26 YoY+0.0%	$6.26 YoY+4.7%	$5.98 YoY+9.5%	$5.46 YoY+10.8%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.14B YoY+5.0%	1.09B YoY+5.6%	1.03B YoY-15.2%	1.22B YoY-3.0%	1.25B YoY+13.6%
Cash & equivalents	99.0M YoY-1.0%	100M YoY-4.8%	105M YoY-32.7%	156M YoY-46.6%	292M YoY+25.9%
Accounts receivable	172M YoY+33.3%	129M YoY-73.2%	481M YoY-18.9%	593M YoY+9.2%	543M YoY+26.0%
Prepaid expenses	79.0M YoY+6.8%	74.0M YoY-28.2%	103M YoY+1.0%	102M YoY-2.9%	105M YoY+10.5%
Other current assets	23.0M YoY-4.2%	24.0M YoY-57.1%	56.0M YoY-23.3%	73.0M YoY+37.7%	53.0M YoY-73.8%
	31.5B YoY-3.7%	32.7B YoY-15.0%	38.5B YoY-1.0%	38.9B YoY-0.3%	39.0B YoY+0.7%
Property, plant & equipment	6.27B YoY-4.6%	6.58B YoY-58.0%	15.7B YoY+1.7%	15.4B YoY+0.9%	15.3B YoY+0.7%
Operating lease right-of-use	5.47B YoY-2.3%	5.60B YoY-9.5%	6.19B YoY-5.2%	6.53B YoY-2.3%	6.68B YoY+3.4%
Goodwill	5.13B YoY+0.0%	5.13B YoY-49.2%	10.1B YoY+0.0%	10.1B YoY+0.1%	10.1B YoY+0.0%
Intangible assets	861M YoY-17.0%	1.04B YoY-67.4%	3.18B YoY-11.6%	3.60B YoY-11.1%	4.05B YoY-8.7%
Deferred tax assets	18.6M YoY+0.0%	18.6M YoY+0.0%	18.6M YoY+0.0%	18.6M YoY+0.0%	18.6M YoY+0.0%
Other non-current assets	61.0M YoY+5.2%	58.0M YoY-58.3%	139M YoY+2.2%	136M YoY+10.6%	123M YoY+3.4%
	4.48B YoY+105.7%	2.18B YoY-15.8%	2.58B YoY-5.3%	2.73B YoY+34.8%	2.03B YoY+2.9%
Accounts payable	71.0M YoY+47.9%	48.0M YoY-81.0%	252M YoY+6.8%	236M YoY-4.1%	246M YoY+7.0%
Deferred revenue	192M YoY+36.2%	141M YoY-76.7%	605M YoY-17.8%	736M YoY-5.2%	776M YoY+10.2%
Short-term & current debt	2.78B YoY+361.5%	603M YoY-27.8%	835M YoY+2.0%	819M YoY+1037.5%	72.0M YoY-44.2%
Current lease liability	268M YoY+1.5%	264M YoY-20.5%	332M YoY-5.1%	350M YoY+0.3%	349M YoY+6.1%
Other current liabilities	168M YoY+0.6%	167M YoY-51.2%	342M YoY-16.0%	407M YoY+1.5%	401M YoY+6.1%
	33.2B YoY+0.9%	32.9B YoY+2.2%	32.1B YoY+2.1%	31.5B YoY+2.2%	30.8B YoY+5.0%
Long-term debt	24.3B YoY+1.1%	24.1B YoY+5.1%	22.9B YoY+5.5%	21.7B YoY+5.3%	20.6B YoY+7.0%
Non-current lease liability	4.96B YoY-2.0%	5.06B YoY-9.0%	5.56B YoY-5.4%	5.88B YoY-2.5%	6.03B YoY+3.8%
Deferred tax liabilities	32.3M YoY+0.0%	32.3M YoY+0.0%	32.3M YoY+0.0%	32.3M YoY+0.0%	32.3M YoY+0.0%
Other non-current liabilities	607M YoY-5.9%	645M YoY-66.3%	1.91B YoY-1.8%	1.95B YoY-10.1%	2.17B YoY-8.9%
	-1.64B YoY-1129.3%	-133M YoY-102.1%	6.38B YoY-14.3%	7.45B YoY-9.8%	8.26B YoY-12.7%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	4.00M YoY+0.0%	4.00M YoY+0.0%	4.00M YoY+0.0%	4.00M YoY+0.0%	4.00M YoY+0.0%
Additional paid-in capital	18.5B YoY+0.7%	18.4B YoY+0.7%	18.3B YoY+0.9%	18.1B YoY+0.6%	18.0B YoY+0.4%
Retained earnings	-20.2B YoY-8.8%	-18.5B YoY-55.8%	-11.9B YoY-11.5%	-10.7B YoY-9.4%	-9.75B YoY-15.1%
Accumulated other comprehensive income	-5.00M YoY+0.0%	-5.00M YoY-25.0%	-4.00M YoY+20.0%	-5.00M YoY-25.0%	-4.00M YoY+0.0%
Non-controlling interest	0.00	0.00	0.00	0.00	0.00
Total equity incl. non-controlling	-1.64B YoY-1129.3%	-133M YoY-102.1%	6.38B YoY-14.3%	7.45B YoY-9.8%	8.26B YoY-12.7%
Total liabilities & equity	31.5B YoY-3.7%	32.7B YoY-15.0%	38.5B YoY-1.0%	38.9B YoY-0.3%	39.0B YoY+0.7%
Common shares issued	435M YoY+0.0%	435M YoY+0.2%	434M YoY+0.2%	433M YoY+0.2%	432M YoY+0.2%
Common shares outstanding	435M YoY+0.0%	435M YoY+0.2%	434M YoY+0.2%	433M YoY+0.2%	432M YoY+0.2%
Shares outstanding (cover)	435M YoY+0.2%	435M YoY+0.2%	434M YoY+0.1%	433M YoY+0.2%	432M YoY+0.2%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	3.06B YoY+3.9%	2.94B YoY-5.9%	3.13B YoY+8.6%	2.88B YoY+3.2%	2.79B YoY-8.7%
Depreciation & amortization	690M YoY-6.3%	736M YoY-6.5%	787M YoY-53.9%	1.71B YoY+3.8%	1.64B YoY+2.2%
Share-based compensation	73.0M YoY-13.1%	84.0M YoY-17.6%	102M YoY-34.6%	156M YoY+20.9%	129M YoY-6.5%
Deferred income taxes	0.00 YoY-100.0%	4.00M YoY-55.6%	9.00M YoY+200.0%	3.00M YoY-25.0%	4.00M YoY+33.3%
	-1.16B YoY+5.1%	-1.22B YoY+19.7%	-1.52B YoY-12.4%	-1.35B YoY-1.5%	-1.33B YoY+23.5%
Capital expenditure	182M YoY+3.4%	176M YoY-27.6%	243M YoY-81.5%	1.31B YoY+6.6%	1.23B YoY-24.3%
Acquisitions	0.00 YoY-100.0%	8.00M YoY-91.7%	96.0M YoY+174.3%	35.0M YoY-68.5%	111M YoY+3.7%
Other investing activities	-4.00M YoY+55.6%	-9.00M YoY-80.0%	-5.00M YoY-171.4%	7.00M YoY+187.5%	-8.00M YoY-180.0%
	-1.89B YoY-10.4%	-1.71B YoY-3.3%	-1.65B YoY+0.7%	-1.67B YoY-27.1%	-1.31B YoY-3.1%
Long-term debt issued	0.00 YoY-100.0%	1.24B YoY-67.6%	3.84B YoY+413.8%	748M YoY-81.2%	3.98B YoY+6.8%
Long-term debt repaid	-1.20B YoY-60.0%	-750M YoY+0.0%	-750M YoY+41.1%	-1.27B YoY-161.0%	2.09B YoY-16.1%
Common stock repurchased	-23.0M YoY+30.3%	-33.0M YoY-10.0%	-30.0M YoY+53.8%	-65.0M YoY-192.9%	70.0M YoY-7.9%
Dividends paid	-2.08B YoY+23.8%	-2.73B YoY-0.2%	-2.72B YoY-4.7%	-2.60B YoY-209.7%	2.37B YoY+12.7%
FX effect on cash	—	—	—	—	0.00
Net change in cash	0.00 YoY+100.0%	-1.00M YoY-200.0%	1.00M	0.00	0.00
Interest paid	965M YoY+7.8%	895M YoY+11.9%	800M YoY+17.0%	684M YoY+3.5%	661M YoY+1.2%
Income taxes paid	15.0M YoY+50.0%	10.0M YoY-23.1%	13.0M YoY+30.0%	10.0M YoY-50.0%	20.0M YoY+5.3%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	38.7B YoY-1.9%	39.4B YoY-21.0%	50.0B YoY-15.0%	58.7B YoY-34.9%	90.2B YoY+31.4%
P/E	87.2×	—	32.2× YoY-11.6%	36.4× YoY-55.8%	82.3× YoY+26.6%
P/S	180.0× YoY-12.4%	205.4× YoY+131.9%	88.6× YoY+4.2%	85.0× YoY-41.5%	145.3× YoY+10.0%
P/B	—	—	7.5× YoY-2.1%	7.6× YoY-30.0%	10.9× YoY+50.5%
P/FCF	13.5× YoY-5.6%	14.3× YoY-53.1%	30.4× YoY-21.6%	38.8× YoY-32.9%	57.8× YoY+20.5%
Earnings yield	1.1%	—	3.1% YoY+13.1%	2.7% YoY+126.2%	1.2% YoY-21.0%
FCF yield	7.4% YoY+5.9%	7.0% YoY+113.4%	3.3% YoY+27.5%	2.6% YoY+49.1%	1.7% YoY-17.0%
Dividend yield	5.3% YoY-22.5%	6.9% YoY+26.9%	5.4% YoY+23.3%	4.4% YoY+68.5%	2.6% YoY-15.5%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: CCI's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all CCI filings on SEC EDGAR → Not investment advice.

CCI▼ financial statements

About this data

financial statements