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Screener / SEC EDGAR /CIK 0001051470 /10-K filed Feb 23, 2026, compared with Mar 14, 2025 /Numbers from the XBRL of the 10-Ks
Real estate peers:
CSGPVICICCIPSAEXRBXP
NYSE Real estate · REIT

Crown Castle CCI

CCI quote by TradingView
Employees
4,000
Headquarters
Houston, TX
CEO
Christian H. Hillabrant
Next results
around Jan 11, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $4.3B through the costs to a net profit of $444.0M · income statement of the 10-K

49% operating margin
Revenue to Gross profit: $4.2BRevenue to Cost of revenue: $113.0MGross profit to Operating profit: $2.1BGross profit to Operating expenses: $2.1BOperating profit to Net profit: $444.0MOperating profit to Tax & other: $1.6B Revenue: $4.3B REVENUE $4.3B −4% Y/Y Gross profit: $4.2B · 97% margin GROSS PROFIT $4.2B 97% margin Cost of revenue: $113.0M · 3% of revenue COST OF REVENUE $113.0M 3% of revenue Operating profit: $2.1B · 49% margin OPERATING PROFIT $2.1B 49% margin · −2% Y/Y Operating expenses: $2.1B · 49% of revenue OPERATING EXPENSES $2.1B 49% of revenue Net profit: $444.0M · 10% margin NET PROFIT $444.0M 10% margin Tax & other: $1.6B · 38% of revenue TAX & OTHER $1.6B 38% of revenue
Gross profit $4.2B 97% margin
Operating profit $2.1B 49% margin · −2% Y/Y
Net profit $444.0M 10% margin
The full income statement, year by year

CCI among Real estate peers

Six ratios from the latest 10-K. Each corner is the share of 28 peers the company is above, not a score.

Compare
Revenue growth: -4.4%, above 0% of 28 peers (their median 5.2%) REVENUE GROWTH -4.4% · above 0% Operating margin: 47.1%, above 71% of 17 peers (their median 36.0%) OPERATING MARGIN 47.1% · above 71% Net margin: 20.1%, above 43% of 28 peers (their median 21.8%) NET MARGIN 20.1% · above 43% FCF margin: 42.2%, above 73% of 11 peers (their median 12.3%) FCF MARGIN 42.2% · above 73%
CCI Peer median Below the median

What changed

7 new risk paragraphs and 3 accounting facts worth reading about. 10-K filed Feb 23, 2026 against Mar 14, 2025.

Risk factors
7 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Receivables growing faster than revenue
Receivables +33.3% vs revenue -4.4% (+37.7 pts)
10-K · XBRL
Late filing notice (NT 10-K or NT 10-Q)
NT 10-K filed Feb 25, 2025: the company said its 10-K would be late
10-K · XBRL
Critical audit matters changed
New this year: Discontinued Operations - Sale of the Fiber Business (“As described in Notes 1 and 3 to the consolidated financial statements, on March 13, 2025, the Company signed an agreement to sell its fiber solutions and small cell businesses (“Fiber Business”). Under the agreement, the Company will receive $8.5 billion in aggregate cash proceeds, subject to certa”). No longer listed: Quantitative Goodwill Impairment Test - Fiber Reporting Unit. Same as last year: Revenue Recognition - Site Rental Revenues
10-K · XBRL
Accounting checks
7 other checks clear, 3 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
4 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

3facts worth reading about the other 7 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +33.3% vs revenue -4.4% (+37.7 pts)
  • Late filing notice (NT 10-K or NT 10-Q)
    NT 10-K filed Feb 25, 2025: the company said its 10-K would be late
  • Critical audit matters changed
    New this year: Discontinued Operations - Sale of the Fiber Business (“As described in Notes 1 and 3 to the consolidated financial statements, on March 13, 2025, the Company signed an agreement to sell its fiber solutions and small cell businesses (“Fiber Business”). Under the agreement, the Company will receive $8.5 billion in aggregate cash proceeds, subject to certa”). No longer listed: Quantitative Goodwill Impairment Test - Fiber Reporting Unit. Same as last year: Revenue Recognition - Site Rental Revenues
  • Cash from operations $3.1B vs net income $444.0M (FY ending Dec 31, 2025)
6 more checks with nothing to note
  • Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

7 paragraphs in Risk Factors that were not in the 10-K filed Mar 14, 2025. Quoted as filed.

All 7 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Mar 14, 2025 10-K, ITEM 1A
    On January 12, 2026, we delivered a notice of default and termination to DISH relating to our Master Lease Agreement and underlying agreements with DISH as a result of DISH failing to make required payments and defaulting on its obligations under the agreements. As a result of the termination, we assert in the notice that DISH owes us…
  2. Item 1A · new paragraph · not in the 10-K filed Mar 14, 2025 10-K, ITEM 1A
    If we do not continue to make appropriate investments in, and effectively implement and maintain, our information technology systems and digital capabilities, our business and operating results could be adversely affected. Our business relies on information technology ("IT") systems to support key operational, commercial, and financial…

New risk paragraphs, against peers

Latest 10-K of each, Real estate companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$7.0B$4.7B$4.5B$4.3B
Net income$1.7B$1.5B−$3.9B$444.0M
Operating cash flow$2.9B$3.1B$2.9B$3.1B
Free cash flow$1.6B$2.9B$2.8B$2.9B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$4.3B ▼ 4.4% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

4 filings in the last 30 days · SEC EDGAR

All filings

About the company

Crown Castle, Houston, TX · from the 10-K filed Feb 23, 2026

We own, operate and lease shared communications infrastructure that is geographically dispersed throughout the U.S., including (1) more than 40,000 towers and other structures, such as rooftops (collectively, "towers"), (2) approximately 105,000 small cell nodes either currently generating revenue or under contract and (3) approximately 90,000 route miles of fiber primarily supporting small cells and fiber solutions.

Headquarters
Houston, TX
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 21, 2026
Incorporated in
DE

Employees, at the top of the page: "As of January 31, 2026, we employed approximately 4,000 people, including approximately 2,500 people recorded in our discontinued operations" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Feb 23, 2026 (open at SEC), compared with the 10-K filed Mar 14, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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