Crown Castle Inc.
Financial Performance
Crown Castle Revenue & Financials
Revenue
$4.3B (FY2025)
Market Cap
$28.4B
Net Income
$444M
Employees
1,250
What is Crown Castle's revenue?
Crown Castle had $4.3B in revenue for fiscal year 2025, down 4.4% from 2024. Net income was $444M.
- Latest revenue
- $4.3B (FY2025)
- Year-over-year
- -4.4%
- Growth rate (CAGR)
- -3.2% over 7 years
- Peak revenue
- $7B (FY2022)
- Years of data
- 8
- Employees
- 1,250
- What is Crown Castle's operating income?
- Crown Castle reported operating income of $2.1B for fiscal year 2025. sec.gov
- How much profit does Crown Castle make?
- Crown Castle reported net income of $444M for fiscal year 2025. crowncastle.com
- How many employees does Crown Castle have?
- Crown Castle has about 1,250 employees.
Financial Analysis
As a REIT, Crown Castle must distribute most of its taxable income, so investors focus on AFFO per share and the dividend. FY2025 AFFO was $1.904B, or $4.36 per share. The dividend was reset in 2025 to $1.0625 per quarter ($4.25 annualized) to match the smaller tower-only cash flow. After the May 2026 sale it repaid more than $7B of debt and finished Q2 2026 with 100% fixed-rate debt and a weighted-average maturity of about seven years. The July 2026 outlook raised the FY2026 AFFO midpoint to about $1.975B and net income to about $870M. Crown Castle Inc. operates as a major real estate investment trust (REIT) for communications infrastructure, sustaining a valuation typically over $40 billion.
Revenue Trend Analysis
YoY Change
-4.4%
7-Year CAGR
-3.2%
Peak Year
2022
Trend
Mostly Growing
Crown Castle Inc. has 8 full fiscal year figures on this page, compounding at -3.2% annually over 7 years. The most recent year saw a 4.4% decline versus the prior year. Annual revenue peaked in fiscal year 2022 at $7B. Of 7 comparable year-over-year steps, 4 showed growth and 3 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2025 | $4.3B | $2.1Bfiling | $444M | -4.4% | crowncastle.com FY2025 net revenues from continuing tower operations were $4.264B; net income was $444M after discontinued operations. |
| FY2024 | $4.5B | $2.1Bfiling | — | -5.8% | crowncastle.com FY2024 continuing net revenues were recast to $4.460B after the Fiber Business was classified as discontinued operations. |
| FY2023 | $4.7B | $2.1Bfiling | — | -32.2% | sec.gov Recast continuing tower operations revenue under the discontinued-operations presentation used in the FY2025 Form 10-K. |
| FY2022 | $7B | $2.4B | — | +10.2% | Crown Castle Inc. annual report (Form 10-K, SEC EDGAR, filed 2025-03-14) Fiscal year ended 2022-12-31. |
| FY2021 | $6.3B | $2B | — | +8.6% | Crown Castle Inc. annual report (Form 10-K, SEC EDGAR, filed 2024-02-23) Fiscal year ended 2021-12-31. |
| FY2020 | $5.8B | $1.9B | — | +1.3% | Crown Castle Inc. annual report (Form 10-K, SEC EDGAR, filed 2023-02-24) Fiscal year ended 2020-12-31. |
| FY2019 | $5.8B | $1.6B | — | +7.3% | Crown Castle Inc. annual report (Form 10-K, SEC EDGAR, filed 2022-02-22) Fiscal year ended 2019-12-31. |
| FY2018 | $5.4B | $1.4B | — | — | Crown Castle Inc. annual report (Form 10-K, SEC EDGAR, filed 2021-02-22) Fiscal year ended 2018-12-31. |
Click any row to see year details.
Crown Castle Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row.
| Fiscal Year | Operating cash flow | Total assets | Total liabilities | Source |
|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $3.1B | $31.5B | $33.2B | Form 10-K |
| FY2024ended Dec 31, 2024 | $2.9B | $32.7B | $32.9B | Form 10-K |
| FY2023ended Dec 31, 2023 | $3.1B | $38.5B | $32.1B | Form 10-K |
| FY2022ended Dec 31, 2022 | $2.9B | $38.9B | $31.5B | Form 10-K |
| FY2021ended Dec 31, 2021 | $2.8B | $39B | $30.8B | Form 10-K |
| FY2020ended Dec 31, 2020 | $3.1B | $38.8B | $29.3B | Form 10-K |
| FY2019ended Dec 31, 2019 | $2.7B | $38.5B | $28B | Form 10-K |
| FY2018ended Dec 31, 2018 | $2.5B | $32.8B | $21.2B | Form 10-K |
Keep researching Crown Castle
Crown Castle Revenue and Financial FAQ
What was Crown Castle's revenue in 2025?
$4.264B from continuing operations, including $4.049B of site rental revenue. Net income was $444M.
What is Crown Castle's AFFO?
FY2025 AFFO was $1.904B, or $4.36 per share. In July 2026 the company raised its FY2026 AFFO outlook midpoint to about $1.975B.
How did Crown Castle do in Q2 2026?
Site rental revenue was $967M, down 4.1%, adjusted EBITDA was $675M, net income was $94M, and AFFO per share rose about 11% to $1.13 on lower interest expense.
What is Crown Castle's dividend?
$1.0625 per share quarterly, or $4.25 annualized.
What is Crown Castle's market cap?
About $28.4B around September 30, 2026, when the shares traded near a 52-week low of about $66.
How much debt did Crown Castle repay after the fiber sale?
More than $7B. It ended Q2 2026 with 100% fixed-rate debt and a weighted-average maturity of about seven years.
Is Crown Castle a good dividend stock?
Yes, because it is legally structured as a REIT, it pays zero corporate income tax, but is legally required to distribute at least 90% of its massive taxable income directly to shareholders in the form of heavy dividends.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Crown Castle Revenue & Financials." CorpDigest, https://corpdigest.com/company/crown-castle/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Crown Castle reported $4.3B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/crown-castle/financials" target="_blank" rel="noopener">CorpDigest — Crown Castle financials</a></div>Related Financial Audits
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