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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)$684.0MNet Change In Cash (TTM)$34.0M
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$40.2B
P/E Ratio37.93
ROE20.53%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other non-cash income (expense)-$35M-$1M-$3M$0$8M$1M
Amortization of debt issuance costs$8M$8M$8M$8M$8M$7M
Other non-cash income (expense)-$35M-$1M-$3M$0$8M$1M
Change in accounts payable—-$6M$6M$15M$2M$1M
Change in other assets—$15M$38M-$20M-$44M-$12M
Change in other liabilities-$39M-$21M-$11M-$10M-$13M-$48M
Other working capital changes-$35M-$1M-$3M$0$8M$1M
Change in receivables-$85M$6M$23M-$24M-$8M-$12M
Deferred income taxes—$1M——-$1M$1M
Depreciation and amortization$184M$177M$175M$167M$170M$172M
Impairment charges$1M$2M$2M$3M$4M$3M
Other Non-Cash Income (Expense)-$35M-$1M-$3M$0$8M$1M
Other Non-cash Income (Expense)-$35M-$1M-$3M$0$8M$1M
Other Non-cash Income (Expense)-$35M-$1M-$3M$0$8M$1M
Net cash from operating activities$877M$641M$832M$714M$870M$509M
Net income-$4.8B-$464M$291M$323M$294M$151M
Other non-cash income (expense)-$35M-$1M-$3M$0$8M$1M
Non-cash interest expense$8M$8M$8M$8M$8M$7M
Asset write-downs$1M$2M$2M$3M$4M$3M
Net cash provided by operating activities from discontinued operations$293M$270M$311M$316M$288M$213M
Accounts payable—-$6M$6M$15M$2M$1M
Increase (Decrease) in Other Operating Assets—$15M$38M-$20M-$44M-$12M
Other Noncash Income (Expense)-$35M-$1M-$3M$0$8M$1M
Other Non-cash Income and Expense-$35M-$1M-$3M$0$8M$1M
Other Non-Cash Adjustments-$35M-$1M-$3M$0$8M$1M
Other Non-Cash Income and Expense-$35M-$1M-$3M$0$8M$1M
Stock-based compensation$15M$18M$18M$19M$18M$18M
Income from Continuing Operations$309M$284M$265M$277M$277M$220M
Change in Interest Payable$80M-$82M—-$78M—-$79M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$0$0$0$0$0—
Capital expenditures$52M$40M$40M$43M$59M$57M
Net cash used for investing activities from discontinued operations-$225M-$217M-$229M-$241M-$293M-$256M
Payment for (Proceeds from) Other Investing Activity-$4M-$2M-$1M-$2M—$0
Net cash from investing activities-$273M-$255M-$268M-$282M-$353M-$313M
Other investing activities-$4M-$2M-$1M-$2M—$0

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from lines of credit$0$0$400M$500M$300M$1.4B
Proceeds from lines of credit$0$0$400M$500M$300M$1.4B
Proceeds from Lines of Credit$0$0$400M$500M$300M$1.4B
Repayments of Lines of Credit-$1.3B$0$0$0-$255M$60M
Net change in commercial paper$29M$336M$228M$41M$0-$39M
Proceeds from issuance of debt$0$0$400M-$400M$0$1.4B
Repayments of debt-$1.5B$0$700M$500M-$2.4B$900M
Dividends paid-$4.8B$690M$463M$462M-$3.7B$473M
Proceeds from (repayments of) short-term borrowings, net$29M$336M$228M$41M$0-$39M
Proceeds from Borrowings on Revolving Credit Facility$0$0$400M$500M$300M$1.4B
Repayments of Lines of Credit-$1.3B$0$0$0-$255M$60M
Net cash from financing activities-$680M-$403M-$568M-$451M-$464M-$179M
Borrowings Under Acquisition Credit Facilities$0$0$400M$500M$300M$1.4B
Repayments of Acquisition Credit Facilities-$1.3B$0$0$0-$255M$60M
Proceeds from Secured Lines of Credit$0$0$400M$500M$300M$1.4B
Repurchases of common stock-$65M$21M$2M$0-$46M$25M
Repayments of lines of credit-$1.3B$0$0$0-$255M$60M
Repayments of Other Debt-$170M$28M$31M$30M-$207M$32M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net Change in Cash Excluding Exchange Rate Effect—-$17M-$4M-$19M$53M$17M
Effect of exchange rate changes on cash—$0$0$0—$0
Net Change in Cash Excluding FX Effect—-$17M-$4M-$19M$53M$17M
Net increase (decrease) in cash-$92M-$17M-$4M-$19M$40M$17M
Net Change in Cash Excluding Exchange Rate Effect—-$17M-$4M-$19M$53M$17M
Repayments of Other Debt-$170M$28M$31M$30M-$207M$32M
Restructuring Reserve Settled Without Cash2$2.5M$0$0$0$0—

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$825M$601M$792M$671M$811M$452M