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Crown Castle Inc CCI

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Stock XNYS Rating as of
$79.84 +0.18 (0.23%)
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As of Delayed Price Closed

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Crown Castle Is Nearing the End of Its Transformation Into a Stable US Wireless Tower Firm

Michael Hodel

Crown Castle has pursued a different growth strategy than its two largest competitors by focusing solely on the US infrastructure market. This focus led to a decade of building fiber networks and promoting small cells to wireless carriers to differentiate its core tower business. However, with carrier consolidation and AT&T and Verizon developing extensive fiber networks of their own, this strategy hasn't panned out. Crown Castle has, wisely, in our view, decided to sell its fiber business, a transaction it expects to close by the end of June 2026.

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Price vs Fair Value

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CCI is trading at a LOCK|hWzc>^ premium.
Price
$79.84
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

The wireless carriers' continued rollout of 5G technology and new spectrum bands should drive organic growth for Crown Castle through contract amendments and co-locations.

Bears

With only a US tower business, Crown Castle has much weaker growth prospects relative to peers American Tower and SBA.

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Trading Information

Previous Close Price
$79.66
Day Range
$79.74–80.82
52-Week Range
$73.75–115.76
Bid/Ask
$79.85 / $80.80
Shares Outstanding
436.45M
Market Cap
$34.85B
Volume/Avg
3M / 4M

Key Statistics

Price/Earnings (Normalized)
31.44
Price/Sales
8.29
Dividend Yield (Trailing)
5.32%
Dividend Yield (Forward)
5.32%
Total Yield
5.40%

Company Profile

Crown Castle owns or manages roughly 40,000 wireless towers in the United States. It leases space on its towers to wireless service providers, which install equipment to support their wireless networks. The company has a very concentrated customer base, with about 90% of its revenue from the Big Three US mobile carriers: Verizon, T-Mobile, and AT&T. Crown Castle has plans to divest its fiber business, which is expected to be finalized in the first half of 2026. After that, it will be a stand-alone tower operator. Crown Castle operates as a real estate investment trust.
Sector
Real Estate
Industry
REIT - Specialty
Stock Style Box
Mid Value
Total Number of Employees
4,000
Website
https://www.crowncastle.com

Competitors

Valuation

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Metric
CCI
SBAC
AMT
Price/Earnings (Normalized)
 31.4421.2823.69
Price/Book Value
 ——22.42
Price/Sales
 8.297.027.34
Price/Cash Flow
 18.9913.7913.84
Price/Earnings
CCI
SBAC
AMT

Financial Strength

Metric
CCI
SBAC
AMT
Quick Ratio
 0.090.190.26
Current Ratio
 0.270.230.30
Interest Coverage
 2.103.423.39
Quick Ratio
CCI
SBAC
AMT

Profitability

Metric
CCI
SBAC
AMT
Return on Assets (Normalized)
 3.60%9.58%5.12%
Return on Equity (Normalized)
 ——88.10%
Return on Invested Capital (Normalized)
 7.32%14.29%7.81%
Return on Assets
CCI
SBAC
AMT

REIT - Specialty Industry Comparables

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LOCK|DR<^$PyWLOCK|&>K<$103B
 American Tower Corp
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LOCK|n#VlH$LOCK|@#&#$79B
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LOCK|<nLTb&!LOCK|r$$66B
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IRM
LOCK|K<PYB&HLOCK|lb#C$36B
 SBA Communications Corp Class A
SBAC
LOCK|$Q>DlP#LOCK|#X#Q?$20B
 Weyerhaeuser Co
WY
LOCK|cqxX%@KLOCK|v^L$17B
 Lamar Advertising Co Class A
LAMR
LOCK|^PG%#ngLOCK|!<m@$16B
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—LOCK|FwH$12B
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LOCK|YHxTm@LOCK|<Pp$3B

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