What is Crown Castle's deferred revenue?

Crown Castle (CCI) reported deferred revenue of $437M in Q4 2025.

How has Crown Castle's deferred revenue changed year-over-year?

Crown Castle's deferred revenue increased by 1.6% year-over-year, from $430M to $437M.

What is the long-term trend for Crown Castle's deferred revenue?

Over 5 years (2020 to 2025), Crown Castle's deferred revenue has grown at a -31.0% compound annual growth rate (CAGR), from $2.8B to $437M.

What does deferred revenue mean?

Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.

Crown Castle CCI Deferred Revenue

Deferred Revenue at other companies

Verizon CommunicationsVZ

$7.82B+3.8%

AT&TT

$4.07B+1.7%

SBA CommunicationsSBAC

$5.66M+63.2%

American TowerAMT

$497M+18.4%

T-Mobile USTMUS

$1.44B+18.2%

MTZ

MasTecMTZ

$800.31M+4.4%

Other financials

Income statement

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Revenue$1.0B-4.9%

Gross profit$984.0M-4.7%

Operating income$470.0M-7.1%

Net income$94.0M-67.7%

EPS (diluted)$0.22-67.2%

Balance sheet

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Cash & equivalents$1.0B+280%

Total debt$23.4B-26.4%

Total equity-$1.9B-53.2%

Total assets$21.5B-32.0%

Cash flow

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Operating cash flow$531.0M-36.2%

CapEx-$173.0M-533%

Free cash flow$358.0M-54.8%

Valuation

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Market cap$33.1B-25.8%

Enterprise value$55.46B-27.1%

P/E38.4×—

P/S8×-2.3×

Profitability

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Gross margin97.3%-0.3pp

Operating margin47.7%-1.2pp

Net margin20.7%+11.3pp

FCF margin55.1%-10.9pp

Returns & leverage

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Return on equity20.5%-1.1pp

Debt / equity5.7×+1.3×

Current ratio0.5×+0.2×

Where this comes from

Reported directly by Crown Castle in its filing.

Tagged under the XBRL concept us-gaap:RevenueRemainingPerformanceObligation.

The official record: Crown Castle’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Crown Castle's deferred revenue?: Crown Castle (CCI) reported deferred revenue of $437M in Q4 2025.
How has Crown Castle's deferred revenue changed year-over-year?: Crown Castle's deferred revenue increased by 1.6% year-over-year, from $430M to $437M.
What is the long-term trend for Crown Castle's deferred revenue?: Over 5 years (2020 to 2025), Crown Castle's deferred revenue has grown at a -31.0% compound annual growth rate (CAGR), from $2.8B to $437M.
What does deferred revenue mean?: Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.