Income StatementBalance SheetCash FlowSegments
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Crown Castle Cash Flow Statement

Operating, investing, and financing cash movements

Crown Castle generated $2.9B in operating cash flow over the trailing twelve months. After $199.0M in capital expenditures, free cash flow was $2.7B. Free cash flow decreased 0.0% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$2.9BNet Cash From Investing (TTM)-$1.2BNet Cash From Financing (TTM)-$1.7BCapital Expenditures (TTM)$199.0MDepreciation And Amortization Cf (TTM)$685.0MNet Change In Cash (TTM)$34.0M
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$38.1B
P/E Ratio35.98
ROE-66.75%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other non-cash income (expense)-$35.0M-$1.0M-$3.0M$0.0$8.0M$1.0M
Other non-cash income (expense)-$35.0M-$1.0M-$3.0M$0.0$8.0M$1.0M
Amortization of debt issuance costs$8.0M$8.0M$8.0M$8.0M$8.0M$7.0M
Other non-cash income (expense)-$35.0M-$1.0M-$3.0M$0.0$8.0M$1.0M
Change in accounts payable-$9.0M-$6.0M$6.0M$15.0M$2.0M$1.0M
Change in other assets—$15.0M$38.0M-$20.0M-$44.0M-$12.0M
Change in other liabilities-$39.0M-$21.0M-$11.0M-$10.0M-$13.0M-$48.0M
Other working capital changes-$43.0M-$1.0M-$3.0M$0.0$8.0M$1.0M
Change in receivables-$85.0M$6.0M$23.0M-$24.0M-$8.0M-$12.0M
Deferred income taxes—$1.0M$0.0$0.0-$1.0M$1.0M
Depreciation and amortization$184.0M$177.0M$175.0M$167.0M$171.0M$172.0M
Impairment charges-$5.0B$2.0M$2.0M$3.0M$4.0M$3.0M
Other Non-Cash Income (Expense)-$35.0M-$1.0M-$3.0M$0.0$8.0M$1.0M
Other Non-cash Income (Expense)-$35.0M-$1.0M-$3.0M$0.0$8.0M$1.0M
Other Non-cash Income (Expense)-$35.0M-$1.0M-$3.0M$0.0$8.0M$1.0M
Net cash from operating activities$877.0M$641.0M$832.0M$714.0M$870.0M$509.0M
Net income-$4.8B-$464.0M$291.0M$323.0M$294.0M$151.0M
Other non-cash income (expense)-$35.0M-$1.0M-$3.0M$0.0$8.0M$1.0M
Non-cash interest expense$8.0M$8.0M$8.0M$8.0M$8.0M$7.0M
Net cash provided by operating activities from discontinued operations$293.0M$270.0M$311.0M$316.0M$288.0M$213.0M
Accounts payable—-$6.0M$6.0M$15.0M$2.0M$1.0M
Increase (Decrease) in Other Operating Assets—$15.0M$38.0M-$20.0M-$44.0M-$12.0M
Other Noncash Income (Expense)-$35.0M-$1.0M-$3.0M$0.0$8.0M$1.0M
Other Non-cash Income and Expense-$35.0M-$1.0M-$3.0M$0.0$8.0M$1.0M
Other Non-Cash Adjustments-$35.0M-$1.0M-$3.0M$0.0$8.0M$1.0M
Other Non-Cash Income and Expense-$35.0M-$1.0M-$3.0M$0.0$8.0M$1.0M
Stock-based compensation$15.0M$18.0M$18.0M$19.0M$18.0M$18.0M
Change in Interest Payable$80.0M-$82.0M$76.0M-$78.0M—-$79.0M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$0.0$0.0$0.0$0.0$0.0—
Capital expenditures$52.0M$40.0M$40.0M$43.0M$59.0M$57.0M
Net cash used for investing activities from discontinued operations-$225.0M-$217.0M-$229.0M-$241.0M-$293.0M-$256.0M
Payment for (Proceeds from) Other Investing Activity-$4.0M-$2.0M-$1.0M-$2.0M—$0.0
Net cash from investing activities-$273.0M-$255.0M-$268.0M-$282.0M-$353.0M-$313.0M
Other investing activities-$3.0M-$2.0M-$1.0M-$2.0M—$0.0

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from lines of credit$0.0$0.0$400.0M$500.0M$300.0M$1.4B
Proceeds from lines of credit$0.0$0.0$400.0M$500.0M$300.0M$1.4B
Proceeds from Lines of Credit$0.0$0.0$400.0M$500.0M$300.0M$1.4B
Repayments of Lines of Credit-$1.3B$0.0$0.0$0.0-$255.0M$60.0M
Net change in commercial paper$29.0M$336.0M$228.0M$41.0M$0.0-$39.0M
Proceeds from issuance of debt$0.0$0.0$400.0M-$400.0M$0.0$1.4B
Repayments of debt-$1.5B$0.0$700.0M$500.0M-$2.4B$900.0M
Dividends paid-$4.8B$690.0M$463.0M$462.0M-$3.7B$473.0M
Proceeds from (repayments of) short-term borrowings, net$29.0M$336.0M$228.0M$41.0M$0.0-$39.0M
Proceeds from Borrowings on Revolving Credit Facility$0.0$0.0$400.0M$500.0M$300.0M$1.4B
Repayments of Lines of Credit-$1.3B$0.0$0.0$0.0-$255.0M$60.0M
Net cash from financing activities-$680.0M-$403.0M-$568.0M-$451.0M-$464.0M-$179.0M
Borrowings Under Acquisition Credit Facilities$0.0$0.0$400.0M$500.0M$300.0M$1.4B
Repayments of Acquisition Credit Facilities-$1.3B$0.0$0.0$0.0-$255.0M$60.0M
Proceeds from Secured Lines of Credit$0.0$0.0$400.0M$500.0M$300.0M$1.4B
Repurchases of common stock-$65.0M$21.0M$2.0M$0.0-$46.0M$25.0M
Repayments of lines of credit-$1.3B$0.0$0.0$0.0-$255.0M$60.0M
Repayments of Other Debt-$170.0M$28.0M$31.0M$30.0M-$207.0M$32.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net Change in Cash Excluding Exchange Rate Effect—-$17.0M-$4.0M-$19.0M$53.0M$17.0M
Effect of exchange rate changes on cash—$0.0$0.0$0.0—$0.0
Net Change in Cash Excluding FX Effect—-$17.0M-$4.0M-$19.0M$53.0M$17.0M
Net increase (decrease) in cash-$92.0M-$17.0M-$4.0M-$19.0M$40.0M$17.0M
Net Change in Cash Excluding Exchange Rate Effect—-$17.0M-$4.0M-$19.0M$53.0M$17.0M
Repayments of Other Debt-$170.0M$28.0M$31.0M$30.0M-$207.0M$32.0M
Restructuring Reserve Settled Without Cash2$2.5M$0.0$0.0$0.0$0.0—

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$825.0M$601.0M$792.0M$671.0M$811.0M$452.0M