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Crown Castle International Corp. (REIT) logo
Crown Castle International Corp. (REIT) CCI
$ 89.37 1.68%
report update icon

Quarterly report 2026-Q3
added 11-04-2026

Crown Castle International Corp. (REIT) Balance Sheet 2025-2006 | CCI

Brief balance sheet overview of Crown Castle International Corp. (REIT)

The review uses the five latest available annual reports between 2021 and 2025.

Assets declined from $39 billion to $31.5 billion, or -19.3%. The contraction calls for context such as disposals, restructuring or weaker operations.

Liability growth of +7.7% exceeded asset growth of -19.3%, increasing reliance on outside funding.

Shareholders' capital is negative, making the balance sheet dependent on consistent debt servicing capacity.

Cash accounts for 0.3% of assets versus 0.7% initially. The change indicates the degree of financial flexibility.

The accumulated result is -$20.2 billion and remains below zero. The number alone does not explain whether losses, dividends or repurchases were the main cause.

Overall assessment

Crown Castle International Corp. (REIT)'s balance sheet looks stretched: reliance on liabilities and a limited capital cushion increase sensitivity to weaker results.

Annual Balance Sheet Crown Castle International Corp. (REIT)

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006

Net Debt

24.5 B 24.2 B 23.1 B 21.9 B 20.7 B 19.4 B 16.1 B 16.4 B 15.8 B 11.6 B 12.1 B 11.7 B 11.4 B 11.2 B 6.81 B 6.64 B 5.6 B 5.48 B - -

Long Term Debt

24.3 B 24.1 B 22.9 B 21.7 B 20.6 B 19.3 B 16.3 B 16.6 B 16 B 12.1 B 12.1 B 11.8 B 11.5 B 10.9 B 6.85 B 6.75 B 6.36 B 5.64 B - -

Long Term Debt Current

268 M 264 M 332 M 350 M 349 M 329 M 299 M - - - - - - - - - - - - -

Total Non Current Liabilities

28.7 B 30.7 B 29.6 B 28.7 B 28.8 B 27.3 B 19.4 B 19.3 B 18.6 B 14.2 B 14.1 B 13.5 B 12.9 B 11.9 B 7.76 B 7.27 B 6.95 B 6.5 B - -

Total Current Liabilities

4.48 B 2.18 B 2.58 B 2.73 B 2.03 B 1.97 B 1.92 B 1.42 B 1.29 B 961 M 855 M 899 M 756 M 1.24 B 402 M 441 M 754 M 834 M - -

Total Liabilities

33.2 B 32.9 B 32.1 B 31.5 B 30.8 B 29.3 B 20.8 B 20.8 B 19.9 B 15.1 B 14.9 B 14.4 B 13.7 B 13.1 B 8.16 B 7.71 B 7.7 B 7.33 B - -

Deferred Revenue

192 M 141 M 605 M 736 M 776 M 704 M 568 M 498 M 457 M 353 M 323 M 348 M 260 M 241 M 167 M 202 M 180 M 174 M - -

Retained Earnings

-20.2 B -18.5 B -11.9 B -10.7 B -9.75 B -8.47 B -5.9 B -5.73 B -4.5 B -3.38 B -2.46 B -2.82 B -2.54 B -2.63 B -2.81 B -2.96 B -2.63 B -2.49 B - -

Total Assets

31.5 B 32.7 B 38.5 B 38.9 B 39 B 38.8 B 32.6 B 32.8 B 32.2 B 22.7 B 22 B 21.1 B 20.6 B 16.1 B 10.5 B 10.5 B 11 B 10.4 B - -

Cash and Cash Equivalents

99 M 100 M 105 M 156 M 292 M 232 M 196 M 277 M 314 M 568 M 179 M 176 M 223 M 441 M 80.1 M 113 M 766 M 155 M 75.2 M 593 M

Book Value

-1.64 B -133 M 6.38 B 7.45 B 8.26 B 9.46 B 11.8 B 12 B 12.3 B 7.56 B 7.09 B 6.74 B 6.94 B 2.95 B 2.39 B 2.76 B 3.25 B 3.03 B - -

Total Shareholders Equity

-1.64 B -133 M 6.38 B 7.45 B 8.26 B 9.46 B 10.5 B 11.6 B 11.9 B 7.56 B 7.09 B 6.72 B 6.93 B 2.94 B 2.39 B 2.45 B 2.94 B 2.72 B 3.17 B 785 M

All numbers in USD currency

Quarterly Balance Sheet Crown Castle International Corp. (REIT)

2026-Q3 2026-Q2 2026-Q1 2025-Q4 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q4 2010-Q3 2010-Q2 2010-Q1 2009-Q4 2009-Q3 2009-Q2

Long Term Debt

4.87 B 4.91 B 4.94 B 4.96 B 4.99 B 5.01 B 5.03 B 5.06 B 5.27 B 5.35 B 5.4 B 5.56 B 5.66 B 5.75 B 5.86 B 5.88 B 5.94 B 6.02 B 6.08 B 6.03 B 6 B 5.96 B 5.86 B 5.81 B 5.71 B 5.62 B 5.57 B 5.51 B 5.48 B 5.43 B 5.34 B 16.7 B 16.3 B 15.8 B 15.6 B 16 B 15.1 B 13.7 B 13.4 B 12.1 B 12.5 B 12.3 B 11.8 B 12 B 12 B 11 B 12 B 11.8 B 11.5 B 11.5 B 11.5 B 11.5 B 10.7 B 10.7 B 10.7 B 10.9 B 8.3 B 8.31 B 8.34 B 6.85 B 6.9 B 6.79 B 6.7 B - 6.59 B 6.37 B 6.37 B 6.36 B 6.02 B 6.02 B

Total Non Current Liabilities

21 B 21.5 B 28.6 B 28.7 B 28.7 B 29.2 B 30.1 B 30.7 B 30.6 B 30.1 B 29.8 B 29.6 B 29.5 B 29.3 B 29.3 B 28.7 B 28.6 B 29.3 B 29.2 B 28.8 B 28.5 B 28.2 B 27.9 B 27.3 B 27.4 B 29.1 B 25.8 B 26 B 25.7 B 25.3 B 24.8 B 19.7 B 19.4 B 18.9 B 18.6 B 18.6 B 17.3 B 15.9 B 15.5 B 14.2 B 14.5 B 14.3 B 13.8 B 14 B 13.9 B 12.8 B 13.7 B 13.5 B 13.1 B 13 B 12.9 B 12.9 B 11.9 B 11.8 B 11.8 B 11.9 B 9.26 B 9.24 B 8.96 B 7.45 B 7.45 B 7.32 B 7.22 B 7.27 B 7.29 B 6.98 B 6.93 B 6.95 B 6.67 B 6.58 B

Total Liabilities

24 B 24.8 B 33.3 B 33.2 B 33 B 33 B 33 B 32.9 B 32.7 B 32.6 B 32.2 B 32.1 B 32 B 32 B 31.8 B 31.5 B 31.2 B 31.2 B 31 B 30.8 B 30.5 B 30.3 B 29.8 B 29.3 B 29.3 B 31.1 B 28.5 B 28 B 27.5 B 27.1 B 26.5 B 21.2 B 20.8 B 20.2 B 19.8 B 19.9 B 18.3 B 16.9 B 16.4 B 15.1 B 15.4 B 15.2 B 14.6 B 14.8 B 14.8 B 13.6 B 14.5 B 14.4 B 13.9 B 13.8 B 13.6 B 13.7 B 12.6 B 12.5 B 12.4 B 13.1 B 9.79 B 9.73 B 9.39 B 7.85 B 7.82 B 7.7 B 7.62 B 7.71 B 7.96 B 7.55 B 7.56 B 7.7 B 7.32 B 7.31 B

Deferred Revenue

137 M 259 M 194 M 192 M 147 M 139 M 145 M 141 M 483 M 509 M 514 M 605 M 650 M 793 M 721 M 736 M 686 M 701 M 721 M 776 M 822 M 805 M 814 M 704 M 787 M 763 M 741 M 657 M 638 M 607 M 598 M 587 M 568 M 554 M 539 M 457 M 387 M 387 M 367 M 353 M 359 M 364 M 333 M 323 M 315 M 313 M 327 M 280 M 327 M 320 M 255 M 260 M 249 M 242 M 231 M 241 M 221 M 195 M 174 M 167 M 175 M 176 M 199 M 202 M 233 M 181 M 172 M 180 M 170 M 168 M

Retained Earnings

-21 B -20.8 B -20.5 B -20.2 B -20 B -19.8 B -19.7 B -18.5 B -13.1 B -12.7 B -12.3 B -11.9 B -11.6 B -11.2 B -10.9 B -10.7 B -10.4 B -10.2 B -9.97 B -9.75 B -9.47 B -9.24 B -9 B -8.47 B -8.4 B -8.04 B -7.71 B -7.36 B -7.04 B -6.79 B -6.5 B -6.2 B -5.9 B -5.58 B -5.29 B -4.92 B -4.15 B -3.84 B -3.6 B -3.71 B -3.16 B -2.95 B -2.72 B -2.46 B -2.29 B -2.11 B -2.98 B -2.82 B -2.68 B -2.66 B -2.56 B -2.54 B -2.51 B -2.56 B -2.61 B -2.63 B -2.61 B -2.65 B -2.76 B -2.81 B -2.86 B -2.9 B -2.93 B -2.96 B -3 B -2.86 B -2.75 B -2.63 B -2.64 B -2.6 B

Total Assets

20.6 B 21.5 B 31.4 B 31.5 B 31.5 B 31.6 B 31.8 B 32.7 B 38 B 38.2 B 38.2 B 38.5 B 38.7 B 39 B 39.1 B 38.9 B 38.9 B 39 B 39.1 B 39 B 39 B 39 B 38.8 B 38.8 B 38.8 B 40.9 B 38.6 B 38.5 B 38.3 B 38.1 B 37.8 B 32.8 B 32.6 B 32.4 B 32.2 B 32.2 B 31 B 24.5 B 23.8 B 22.7 B 22.2 B 22.2 B 21.7 B 21.9 B 22 B 21 B 21.1 B 21.1 B 20.8 B 20.7 B 20.6 B 20.6 B 15.6 B 15.4 B 15.4 B 16.1 B 12.7 B 12.6 B 12.1 B 10.5 B 10.4 B 10.4 B 10.4 B 10.5 B 10.7 B 10.4 B 10.6 B 11 B 10.5 B 10.6 B

Cash and Cash Equivalents

305 M 1.25 B 325 M 308 M 255 M 274 M 278 M 295 M 371 M 331 M 298 M 281 M 289 M 488 M 388 M 327 M 347 M 446 M 482 M 466 M 542 M 525 M 438 M 381 M 421 M 2.67 B 472 M 338 M 325 M 429 M 408 M 413 M 453 M 336 M 345 M 440 M 6.72 B 200 M 205 M 697 M 156 M 202 M 176 M 179 M 184 M 339 M 240 M 151 M 239 M 227 M 201 M 223 M 219 M 127 M 161 M 441 M 119 M 96.2 M 1.06 B 80.1 M 75.5 M 108 M 82.3 M 113 M 304 M 242 M 397 M 766 M 269 M 335 M

Book Value

-3.42 B -3.27 B -1.92 B -1.64 B -1.49 B -1.38 B -1.25 B -133 M 5.3 B 5.65 B 6.05 B 6.38 B 6.67 B 7.05 B 7.22 B 7.45 B 7.68 B 7.86 B 8.04 B 8.26 B 8.52 B 8.71 B 8.92 B 9.46 B 9.5 B 9.83 B 10.1 B 10.5 B 10.8 B 11 B 11.3 B 11.6 B 11.8 B 12.1 B 12.4 B 12.3 B 12.7 B 7.59 B 7.36 B 7.56 B 6.75 B 6.95 B 7.15 B 7.09 B 7.24 B 7.4 B 6.56 B 6.74 B 6.86 B 6.88 B 6.93 B 6.94 B 3 B 2.92 B 2.96 B 2.95 B 2.94 B 2.87 B 2.74 B 2.69 B 2.62 B 2.69 B 2.78 B 2.76 B 2.7 B 2.8 B 3 B 3.25 B 3.17 B 3.24 B

Total Shareholders Equity

-3.42 B -3.27 B -1.92 B -1.64 B -1.49 B -1.38 B -1.25 B -133 M 5.3 B 5.65 B 6.05 B 6.38 B 6.67 B 7.05 B 7.22 B 7.45 B 7.68 B 7.86 B 8.04 B 8.26 B 8.52 B 8.71 B 8.92 B 9.46 B 9.5 B 9.83 B 10.1 B 10.5 B 10.8 B 11 B 11.3 B 11.6 B 11.8 B 12.1 B 12.4 B 11.9 B 12.7 B 7.59 B 7.36 B 7.22 B 6.75 B 6.95 B 7.15 B 7.09 B 7.24 B 7.4 B 6.56 B 6.74 B 6.86 B 6.88 B 6.93 B 6.94 B 3 B 2.92 B 2.96 B 2.95 B 2.94 B 2.87 B 2.74 B 2.39 B 2.31 B 2.37 B 2.46 B 2.44 B 2.38 B 2.48 B 2.69 B 2.94 B 2.85 B 2.92 B

All numbers in USD currency

Balance Sheet is a fundamental financial report of Crown Castle International Corp. (REIT), providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.

For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.

Features of balance sheet analysis
  • Vertical and horizontal analysis
    Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods.
  • Asset quality
    It is important to evaluate not only the amount of assets but also their liquidity and realizability.
  • Accounting for off-balance sheet liabilities
    Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.

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