Financials Crown Castle Inc.

Equities

CCI

US22822V1017

Specialized REITs

Market Closed - Nyse Other stock markets 01:30:02 17/03/2026 am IST			5-day change	1st Jan Change
87.52 ^USD	+0.06%		-2.46%	-1.52%

05/03	Bernstein Initiates Crown Castle at Outperform With $102 Price Target	MT
28/02	Crown Castle Insider Sold Shares Worth $401,481, According to a Recent SEC Filing	MT

Projected Income Statement: Crown Castle Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	6,340	6,986	6,981	6,568	4,264	4,055	4,120	4,226
Change	-	10.19%	-0.07%	-5.92%	-35.08%	-4.91%	1.61%	2.56%
EBITDA ¹	3,816	4,340	4,415	4,161	2,863	2,705	2,776	2,857
Change	-	13.73%	1.73%	-5.75%	-31.19%	-5.51%	2.63%	2.91%
EBIT ¹	2,001	2,425	2,369	-2,938	2,075	1,886	2,034	2,162
Change	-	21.19%	-2.31%	-224.02%	170.63%	-9.12%	7.86%	6.28%
Interest Paid ¹	-657	-699	-850	-932	-972	-847.1	-729	-731
Earnings before Tax (EBT) ¹	1,179	1,691	1,528	-3,879	1,119	1,048	1,242	1,319
Change	-	43.43%	-9.64%	-353.86%	128.85%	-6.32%	18.45%	6.2%
Net income ¹	1,096	1,675	1,502	-3,903	444	916	1,209	1,311
Change	-	52.83%	-10.33%	-359.85%	111.38%	106.3%	31.95%	8.49%
Announcement Date	26/01/22	25/01/23	24/01/24	13/03/25	04/02/26	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	1,485	1,583	1,618	1,654	1,742	1,734	1,746	1,764	1,773	1,867	1,667	1,674	1,641	1,626	1,652	1,649	1,061	1,060	1,072	1,072	993.3	994.7	1,031	1,037	988.2	986.8	1,028	1,033
Change	-	6.6%	2.21%	2.22%	5.32%	-0.46%	0.69%	1.03%	0.51%	5.3%	-10.71%	0.42%	-1.97%	-0.91%	1.6%	-0.18%	-35.66%	-0.09%	1.13%	0%	-7.34%	0.14%	3.62%	0.58%	-4.67%	-0.14%	4.16%	0.52%
EBITDA ¹	897	958	976	984	1,095	1,078	1,077	1,090	1,104	1,188	1,047	1,076	1,036	1,006	1,075	1,044	722	705	718	718	656.4	657.3	689	694.3	664.1	650.5	687.4	690
Change	-	6.8%	1.88%	0.82%	11.28%	-1.55%	-0.09%	1.21%	1.28%	7.61%	-11.87%	2.77%	-3.72%	-2.9%	6.86%	-2.88%	-30.84%	-2.35%	1.84%	0%	-8.59%	0.15%	4.83%	0.76%	-4.34%	-2.05%	5.68%	0.37%
EBIT ¹	448	505	526	522	618	593	602	610	628	667	486	586	538	485	544	-4,505	521	506	525	523	453.6	456.5	491.7	500.2	-	-	-	-
Change	-	12.72%	4.16%	-0.76%	18.39%	-4.05%	1.52%	1.33%	2.95%	6.21%	-27.14%	20.58%	-8.19%	-9.85%	12.16%	-928.12%	111.56%	-2.88%	3.75%	-0.38%	-13.27%	0.65%	7.69%	1.73%	-	-	-	-
Charge d'intérêts ¹	-170	-161	-163	-164	-164	-165	-177	-192	-202	-208	-217	-223	-226	-230	-236	-240	-236	-243	-247	-246	-245.3	-233.3	-183.5	-182.7	-186.9	-186.9	-186.9	-187
Earnings before Tax (EBT) ¹	128	339	358	354	427	426	422	415	425	462	272	366	318	258	308	-4,763	289	269	281	280	200.8	247.6	314.2	322.5	-	-	-	-
Change	-	164.84%	5.6%	-1.12%	20.62%	-0.23%	-0.94%	-1.66%	2.41%	8.71%	-41.13%	34.56%	-13.11%	-18.87%	19.38%	-1,646.43%	106.07%	-6.92%	4.46%	-0.36%	-28.29%	23.33%	26.9%	2.63%	-	-	-	-
Net income ¹	121	334	351	353	421	421	419	413	418	455	265	361	311	251	303	-4,768	-464	291	323	294	153.6	174.6	287.5	294.2	260.9	244.7	276.9	278.3
Change	-	176.03%	5.09%	0.57%	19.26%	0%	-0.48%	-1.43%	1.21%	8.85%	-41.76%	36.23%	-13.85%	-19.29%	20.72%	-1,673.6%	90.27%	162.72%	11%	-8.98%	-47.75%	13.67%	64.67%	2.32%	-11.3%	-6.22%	13.14%	0.5%
Announcement Date	21/04/21	21/07/21	20/10/21	26/01/22	20/04/22	20/07/22	19/10/22	25/01/23	19/04/23	19/07/23	18/10/23	24/01/24	17/04/24	17/07/24	16/10/24	13/03/25	30/04/25	23/07/25	22/10/25	04/02/26	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Crown Castle Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	20,337	21,573	22,816	23,962	24,068	17,220	17,661	18,080
Change	-	6.08%	5.76%	5.02%	0.44%	-28.45%	2.56%	2.37%
Announcement Date	26/01/22	25/01/23	24/01/24	13/03/25	04/02/26	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Crown Castle Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	1,229	1,310	1,424	1,222	182	212.9	215.4	225.2
Change	-	6.59%	8.7%	-14.19%	-85.11%	17%	1.14%	4.58%
Free Cash Flow (FCF) ¹	1,560	1,568	1,702	1,721	2,875	1,911	1,959	2,241
Change	-	0.51%	8.55%	1.12%	67.05%	-33.54%	2.52%	14.41%
Announcement Date	26/01/22	25/01/23	24/01/24	13/03/25	04/02/26	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Crown Castle Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	60.19%	62.12%	63.24%	63.35%	67.14%	66.72%	67.39%	67.61%
EBIT Margin (%)	31.56%	34.71%	33.93%	-44.73%	48.66%	46.51%	49.37%	51.16%
EBT Margin (%)	18.6%	24.21%	21.89%	-59.06%	26.24%	25.85%	30.14%	31.21%
Net margin (%)	17.29%	23.98%	21.52%	-59.42%	10.41%	22.59%	29.33%	31.03%
FCF margin (%)	24.61%	22.44%	24.38%	26.2%	67.42%	47.12%	47.54%	53.03%
FCF / Net Income (%)	142.34%	93.61%	113.32%	-44.09%	647.52%	208.59%	162.07%	170.92%
Profitability
ROA	2.82%	4.3%	3.88%	-10.95%	1.38%	3.12%	5.37%	6%
ROE	12.37%	21.33%	21.72%	-124.94%	-	50.18%	-	-
Financial Health
Leverage (Debt/EBITDA)	5.33x	4.97x	5.17x	5.76x	8.41x	6.37x	6.36x	6.33x
Debt / Free cash flow	13.04x	13.76x	13.41x	13.92x	8.37x	9.01x	9.02x	8.07x
Capital Intensity
CAPEX / Current Assets (%)	19.38%	18.75%	20.4%	18.61%	4.27%	5.25%	5.23%	5.33%
CAPEX / EBITDA (%)	32.21%	30.18%	32.25%	29.37%	6.36%	7.87%	7.76%	7.88%
CAPEX / FCF (%)	78.78%	83.55%	83.67%	71.01%	6.33%	11.14%	11%	10.05%
Items per share
Cash flow per share ¹	6.426	6.631	7.203	6.781	6.995	3.39	4.584	4.919
Change	-	3.19%	8.62%	-5.85%	3.16%	-51.54%	35.23%	7.31%
Dividend per Share ¹	5.46	5.98	6.26	6.26	4.75	4.257	4.285	4.418
Change	-	9.52%	4.68%	0%	-24.12%	-10.38%	0.65%	3.09%
Book Value Per Share ¹	19.12	17.2	14.7	-0.3057	-3.759	-6.005	-7.287	-8.411
Change	-	-10.01%	-14.53%	-102.08%	-1,129.51%	-59.76%	-21.34%	-15.43%
EPS ¹	2.53	3.86	3.46	-8.98	1.01	2.086	2.853	3.099
Change	-	52.57%	-10.36%	-359.54%	111.25%	106.53%	36.76%	8.65%
Nbr of stocks (in thousands)	4,32,203	4,33,048	4,33,689	4,34,598	4,35,479	4,36,070	4,36,070	4,36,070
Announcement Date	26/01/22	25/01/23	24/01/24	13/03/25	04/02/26	-	-	-