CCI
Crown Castle Inc.
CCI's fundamentals are mixed: its operating margin went from −61% to 47%, but revenue fell 16%. At 47x earnings, it's trading right at its usual valuation. Analysts expect strong earnings growth.
CCI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
CCI's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for real estate companies like CCI.
CCI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 31x | $59.71 | -33% |
| Forward | 32x | $89.69 | — |
| Fair | 46x | $87.02 | -3% |
| Current | 47x | $89.69 | — |
| Expensive | 85x | $161 | +79% |
Historical ranges are pointers, not guarantees.
CCI's PE is in its fair range at 47x. If earnings grow as analysts expect, today's price would be 32x next year's earnings, in its cheap range.
CCI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect CCI's earnings to grow and its profitability to improve, with its revenue holding steady.
CCI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.80 | +47% |
| Q3 2026 | $1.90 | +$12.53 |
| Q2 2026 | $1.97 | +$12.64 |
| Q1 2026 | $2.42 | +$13.18 |
| Q4 2025 | $1.01 | +$9.99 |
| Q3 2025 | -$10.63 | -477% |
| Q2 2025 | -$10.67 | -491% |
| Q1 2025 | -$10.76 | -436% |
| Q4 2024 | -$8.98 | -360% |
CCI has returned to profit: it earned $1.90 per share over the past year, after losing money the year before.
CCI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $995M | -7.2% |
| Q2 2026 | $1B | -4.9% |
| Q1 2026 | $1B | -4.8% |
| Q4 2025 | $1.1B | -35% |
| Q3 2025 | $1.1B | -35% |
| Q2 2025 | $1.1B | -35% |
| Q1 2025 | $1.1B | -35% |
| Q4 2024 | $1.6B | -1.5% |
CCI's revenue has slid since its 2023 peak: $995M last quarter, down 7.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 47% | -2.2 points |
| Q2 2026 | 47% | -1.1 points |
| Q1 2026 | 46% | -3.1 points |
| Q4 2025 | 49% | +322 points |
| Q3 2025 | 49% | +16 points |
| Q2 2025 | 48% | +18 points |
| Q1 2025 | 49% | +16 points |
| Q4 2024 | -273% | -308 points |
CCI's operating margin was 47% last quarter, down 2.2 points from the same quarter a year ago.
CCI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$10M | -101% |
| Q2 2026 | $472M | -40% |
| Q1 2026 | $452M | -25% |
| Q4 2025 | $811M | +35% |
| Q3 2025 | $671M | +67% |
| Q2 2025 | $792M | +80% |
| Q1 2025 | $601M | +115% |
| Q4 2024 | $601M | +18% |
CCI's free cash flow was $1.7B over the past year, down 35% from the year before. Free cash flow isn't a meaningful measure for real estate companies like CCI.
CCI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.8% | -8M shares |
| 1 year | -2.5% | -11M shares |
| 3 years | -1.8% | -8M shares |
| 5 years | -1.8% | -8M shares |
| Available history | +1.9% | +8M shares |
CCI has 426M diluted shares, down 2.5% from a year ago, with $1.1B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $26M |
| Q2 2026 | $992M |
| Q1 2026 | $25M |
| Q4 2025 | $46M |
| Q3 2025 | — |
| Q2 2025 | $2M |
| Q1 2025 | $21M |
| Q4 2024 | $65M |
CCI spent $1.1B buying back its own shares over the past year, more than ten times what it spent the year before.
CCI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 6.8x | High |
| Q2 2026 | 6.5x | High |
| Q1 2026 | 9.1x | High |
| Q4 2025 | 8.8x | High |
| Q3 2024 | 6.1x | High |
| Q2 2024 | 6.1x | High |
| Q1 2024 | 5.8x | High |
| Q4 2023 | 5.5x | High |
CCI's net debt is about 6.8 years of its operating earnings (EBITDA), up from 6.1 years a year ago. Net leverage isn't a meaningful measure for real estate companies like CCI.
CCI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 61.1 | Neutral |
| Stochastic | 86.2 | Overbought |
CCI's weekly RSI is 61 (neutral) and its Stochastic is 86 (overbought).
CCI PE vs Real Estate Sector
| Metric | CCI | Sector median | Relative |
|---|---|---|---|
| PE | 47x | 24x | 97% above |
| PE % | 51 | 23 | 28 pts above |
CCI is trading at 47x earnings, a 97% premium to the Real Estate sector's median of 24x.
CCI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $81.1 | 11% above |
| 20 week MA | $78.2 | 15% above |
| 50 week MA | $83.8 | 7% above |
| 100 week MA | $90.6 | 1% below |
| 200 week MA | $100.5 | 11% below |
CCI has bounced recently, but its long-term trend is still down: it's above its 8-, 20- and 50-week averages, but 11% below its 200-week average.
CCI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $141.1 | $154.0 | +9.2% |
| 2021 | $154.0 | $199.4 | +29% |
| 2022 | $199.4 | $137.0 | -31% |
| 2023 | $137.0 | $115.2 | -16% |
| 2024 | $115.2 | $90.6 | -21% |
| 2025 | $90.6 | $88.3 | -2.5% |
| 2026 YTD | $88.3 | $89.7 | +1.6% |
CCI has finished four years in a row lower, and it's up 1.6% so far in 2026.