CCICROWN CASTLE INC.
Real Estate Investment Trusts
- Revenue
- $215M
- 12% YoY
- Operating margin
- 965.1%
- 13% YoY
- EBITDA
- $2.6B
- 2.7% YoY
- Market cap
- $37.8B
- Employees
- 4,000
- $54K revenue each
- Net debt / EBITDA
- 5.8×
- $14.9B net debt
- AI in 10-K
- 1.5
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 2 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$15M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo689% of net incomeCash flow under 80% of net income
- Dilutive SBCYes34% of revenueOver 10% of revenue
- Payouts exceed cash flowNo-69% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo24% of assetsOver 40% of assets
- Shareholder dissentNo88% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeYes$54K · 13th pctBottom quartile of its SIC industry
- Quiet on AINo1.5 per 10K words · 46th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo5.8× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$37.8B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$854K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $621M | $697M | $421M | $192M | $215M | 12% |
| Operating income | $2.0B | $2.4B | $2.1B | $2.1B | $2.1B | 2.0% |
| Net income | $1.1B | $1.7B | $1.5B | −$3.9B | $444M | 111% |
| Operating cash flow | $2.8B | $2.9B | $3.1B | $2.9B | $3.1B | 3.9% |
| Capex | $1.2B | $1.3B | $243M | $176M | $182M | 3.4% |
| Stock-based comp | $129M | $156M | $102M | $84M | $73M | 13% |
| Buybacks | $70M | −$65M | −$30M | −$33M | −$23M | 30% |
| Dividends | $2.4B | −$2.6B | −$2.7B | −$2.7B | −$2.1B | 24% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $74K · 1
- Open-market sells, 12 mo
- $928K · 4
- Net
- −$854K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 70 | 127 |
| FY2024 | — | — | 68 | 124 |
| FY2023 | $15M | $6M | 82 | 118 |
| FY2022 | $12M | −$23M | 91 | 106 |
| FY2021 | $15M | $41M | 135 | 141 |