Crown Castle Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	4,049	4,268	4,313	6,289	5,719
Other Revenue	215	192	421	697	621
Total Revenue	4,264	4,460	4,734	6,986	6,340
Revenue Growth (YoY	-4.40%	-5.79%	-32.24%	10.19%	8.56%
Property Expenses	1,105	1,090	1,265	2,068	1,993
Selling, General & Administrative	383	435	502	750	680
Depreciation & Amortization	690	736	787	1,707	1,644
Total Operating Expenses	2,178	2,261	2,554	4,525	4,317
Operating Income	2,086	2,199	2,180	2,461	2,023
Interest Expense	-972	-932	-849	-699	-657
Interest & Investment Income	13	20	15	3	1
Other Non-Operating Income	3	-26	-5	-10	-21
EBT Excluding Unusual Items	1,130	1,261	1,341	1,755	1,346
Merger & Restructuring Charges	-	-	-1	-2	-1
Asset Writedown	-11	-11	-9	-34	-21
Other Unusual Items	-	-	-	-28	-145
Pretax Income	1,119	1,180	1,258	1,691	1,179
Income Tax Expense	16	18	21	16	21
Earnings From Continuing Operations	1,103	1,162	1,237	1,675	1,158
Earnings From Discontinued Operations	-659	-5,065	265	-	-62
Net Income to Company	444	-3,903	1,502	1,675	1,096
Net Income	444	-3,903	1,502	1,675	1,096
Net Income to Common	444	-3,903	1,502	1,675	1,096
Net Income Growth	-	-	-10.33%	52.83%	3.79%
Basic Shares Outstanding	435	434	434	433	432
Diluted Shares Outstanding	437	434	434	434	434
Shares Change (YoY)	0.69%	-	-	-	2.12%
EPS (Basic)	1.02	-8.99	3.46	3.87	2.54
EPS (Diluted)	1.01	-8.99	3.46	3.86	2.53
EPS Growth	-	-	-10.35%	52.74%	7.54%
Dividend Per Share	4.753	6.260	6.260	5.980	5.460
Dividend Growth	-24.08%	-	4.68%	9.52%	10.75%
Operating Margin	48.92%	49.30%	46.05%	35.23%	31.91%
Profit Margin	10.41%	-87.51%	31.73%	23.98%	17.29%
EBITDA	2,776	2,935	2,967	4,119	3,613
EBITDA Margin	65.10%	65.81%	62.67%	58.96%	56.99%
D&A For Ebitda	690	736	787	1,658	1,590
EBIT	2,086	2,199	2,180	2,461	2,023
EBIT Margin	48.92%	49.30%	46.05%	35.23%	31.91%
Funds From Operations (FFO)	1,764	1,863	-	-	-
FFO Per Share	4.04	4.28	-	-	-
Adjusted Funds From Operations (AFFO)	1,904	1,980	-	-	-
AFFO Per Share	4.36	4.55	-	-	-
FFO Payout Ratio	117.91%	146.48%	-	-	-
Effective Tax Rate	1.43%	1.52%	1.67%	0.95%	1.78%
Revenue as Reported	4,264	4,460	4,734	6,986	6,340

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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