Crown Castle Inc. Financial Ratios — CCI Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	1.63	1.42	0.49	1.87	7.06	1.6	1.33	1.91	2.42	2.73	2.82	4.3	3.88	-10.95	1.38
Return on Capital (%)	13.94	- -	2.27	- -	- -	8.96	8.78	11.05	11.13	10.2	10.04	13.55	13.49	-21.71	13.53
Return on Invested Capital (%)	7.28	- -	1.28	- -	- -	4.65	4.03	4.55	4.95	5.25	5.26	6.82	6.08	6.72	7.19
Gross Margin (%)	71.05	70.03	65.42	63.08	63.93	63.25	63.74	65.66	65.54	66.28	68.56	70.4	73.28	75.56	74.09
EBITDA Margin (%)	62.52	55.87	56.67	54.55	55.33	52.46	53.63	53.2	54.85	59.25	55.55	59.26	62.67	65.81	65.1
Operating Margin (%)	35.32	30.28	30.8	26.69	27.05	24.18	24.47	24.77	27.57	31.71	29.62	34.83	46.05	49.3	48.92
Incremental Operating Margin (%)	172.07	4.66	33.76	9.17	37.35	-16.79	27.84	25.92	65.9	341.56	5.2	85.91	11.23	-6.93	57.65
Pretax Margin (%)	8.85	4.14	8.76	9.47	12.93	9.54	9.21	11.94	15.29	18.42	18.6	24.21	26.57	26.46	26.24
Profit Margin (%)	8.42	7.75	3.14	11.04	41.51	9.1	8.6	11.58	14.92	18.08	17.29	23.98	31.73	-87.51	10.41
Net Income to Common Margin (%)	7.29	7.64	2.75	9.79	40.31	8.26	7.24	9.48	12.96	17.11	17.29	23.98	31.73	-87.51	10.41
Effective Tax Rate (%)	4.64	- -	76.1	- -	- -	4.55	6.63	2.96	2.38	1.86	1.78	0.95	1.67	1.53	1.43
Dvd Payout Ratio (%)	-2.32	-0.07	-21.67	201.12	230.37	385.8	480.84	350.1	255.96	213.51	204.92	155.34	220.13	234.85	188.58
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	6,886	11,611	11,594	11,921	12,150	12,171	16,159	16,682	23,931	25,417	27,009	27,960	28,814	29,380	29,566
ST Debt	33	688	104	113	106	102	115	107	399	458	421	1,169	1,167	867	3,051
LT Debt	6,853	10,923	11,491	11,808	12,044	12,069	16,044	16,575	23,532	24,959	26,588	26,791	27,647	28,513	26,515
Total Debt/EBITDA	5.42	8.54	7.14	6.18	5.99	5.92	7.08	5.84	7.57	7.35	7.67	6.75	9.71	10.01	10.65
Net Debt/EBITDA	5.36	8.22	7	6.1	5.9	5.64	6.94	5.74	5.67	5.51	5.77	5.21	7.69	8.16	8.73
Total Debt/EBIT	9.59	15.76	13.13	12.62	12.26	12.84	15.52	12.54	15.06	13.72	14.38	11.49	13.22	13.36	14.17
Net Debt/EBIT	9.48	15.17	12.88	12.46	12.08	12.24	15.22	12.33	11.28	10.29	10.83	8.87	10.47	10.89	11.62
EBITDA to Interest Expense	3.02	2.65	3.27	3.94	4.18	4.16	4	4.61	4.77	5.2	5.57	6.15	3.62	3.26	2.95
EBITDA-CapEx/Interest Expense	3.02	2.65	3.27	3.94	4.18	4.16	4	4.61	4.77	5.2	5.57	6.15	3.62	3.26	2.95
EBIT to Interest Expense	1.71	1.44	1.78	1.93	2.04	1.92	1.83	2.15	2.4	2.78	2.97	3.62	2.66	2.44	2.22
Interest Expense	421	513	497	489	485	494	570	620	662	666	632	673	820	900	941
Common Equity/Total Assets	-26.64	-16.3	-12.3	-13.3	-11.19	-14.89	-13.97	-18.9	-19.14	-21.84	-24.97	-27.39	-30.85	-56.58	-63.95
Long-Term Debt/Equity (%)	254.59	370.12	165.55	175.26	169.89	159.71	130.03	143.25	224.35	263.81	321.97	359.66	433.27	- -	- -
Long-Term Debt/Capital (%)	156.39	121.36	126.6	129.33	124.23	137.22	137.62	157.99	142.02	147.26	154.04	154.88	163.31	262.57	281.8
Long-Term Debt/Total Assets (%)	64.99	67.89	55.79	55.85	54.9	53.23	49.78	50.59	61.19	64.38	68.1	68.83	71.76	87.1	84.13
Total Debt/Equity (%)	255.79	393.43	167.04	176.94	171.39	161.06	130.96	144.17	228.15	268.65	327.06	375.35	451.56	-22,090.23	-1,808.32
Total Debt/Capital (%)	157.13	129	127.74	130.57	125.32	138.37	138.61	159.01	144.42	149.96	156.48	161.64	170.2	270.56	314.23
Total Debt/Total Assets (%)	65.3	72.17	56.3	56.38	55.39	53.68	50.14	50.92	62.23	65.56	69.18	71.84	74.79	89.75	93.81
Net Debt to Equity	252.82	378.48	163.82	174.69	168.86	153.54	128.41	141.78	170.89	201.33	246.27	289.61	357.56	-18,010.53	-1,482.45
Net Debt/Capital (%)	158.19	130.5	128.44	131.09	125.8	141.02	139.68	160.61	109.47	113.94	119.86	125.85	135.62	222.64	260.34
EBITDA	1,271	1,359	1,624	1,930	2,027	2,057	2,282	2,857	3,161	3,460	3,522	4,140	2,967	2,935	2,776
EBITDA-CapEx	1,271	1,359	1,624	1,930	2,027	2,057	2,282	2,857	3,161	3,460	3,522	4,140	2,967	2,935	2,776
Operating Income (Loss)	718	737	883	944	991	948	1,041	1,330	1,589	1,852	1,878	2,433	2,180	2,199	2,086

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.2	0.36	0.3	0.16	0.21	0.59	0.24	0.18	0.1	0.12	0.14	0.06	0.04	0.05	0.02
Current Ratio	1.49	1.28	1.18	1.38	1.15	1.38	0.88	0.82	0.63	0.56	0.62	0.45	0.4	0.5	0.26
Quick Ratio	0.39	0.51	0.63	0.5	0.58	0.98	0.55	0.52	0.41	0.34	0.46	0.32	0.27	0.18	0.1
CFO/Avg Current Liab	1.53	0.94	1.24	1.97	2.01	1.97	1.8	1.79	1.58	1.57	1.37	1.21	1.18	1.24	0.92
Common Equity/Total Assets	-26.64	-16.3	-12.3	-13.3	-11.19	-14.89	-13.97	-18.9	-19.14	-21.84	-24.97	-27.39	-30.85	-56.58	-63.95
Long-Term Debt/Equity (%)	254.59	370.12	165.55	175.26	169.89	159.71	130.03	143.25	224.35	263.81	321.97	359.66	433.27	- -	- -
Long-Term Debt/Capital (%)	156.39	121.36	126.6	129.33	124.23	137.22	137.62	157.99	142.02	147.26	154.04	154.88	163.31	262.57	281.8
Long-Term Debt/Total Assets (%)	64.99	67.89	55.79	55.85	54.9	53.23	49.78	50.59	61.19	64.38	68.1	68.83	71.76	87.1	84.13
Total Debt/Equity (%)	255.79	393.43	167.04	176.94	171.39	161.06	130.96	144.17	228.15	268.65	327.06	375.35	451.56	-22,090.23	-1,808.32
Total Debt/Capital (%)	157.13	129	127.74	130.57	125.32	138.37	138.61	159.01	144.42	149.96	156.48	161.64	170.2	270.56	314.23
Total Debt/Total Assets (%)	65.3	72.17	56.3	56.38	55.39	53.68	50.14	50.92	62.23	65.56	69.18	71.84	74.79	89.75	93.81
CFO/Total Liabilities	8.19	5.88	9.06	11.57	12.08	11.82	10.22	11.8	9.65	10.42	8.86	9.14	9.72	8.95	9.22
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	1.08	1.11	1.17	1.34	1.45	1.38	1.35	1.31	1.26	1.34	1.68	1.05	0.67	0.13	-0.13

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	29.64	18.01	12.94	12.57	11.69	11.42	11.03	11.95	10.51	11.37	11.89	10.31	7.19	10.02	13.49
Days Sales Outstanding	12.32	20.26	28.2	29.05	31.21	31.97	33.09	30.55	34.74	32.09	30.69	35.4	50.77	36.42	27.05
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	16.41	9.85	7.58	8.49	8.21	8.28	7.05	6.56	6.14	6.98	8.37	8.58	5.18	7.27	18.57
Accounts Payable Turnover Days	22.24	37.06	48.14	42.99	44.47	44.09	51.75	55.62	59.45	52.28	43.59	42.54	70.4	50.23	19.65
Cash Conversion Cycle	-9.93	-16.8	-19.94	-13.94	-13.26	-12.12	-18.66	-25.07	-24.72	-20.18	-12.9	-7.14	-19.63	-13.81	7.4
Inventory to Cash Days	12.32	20.26	28.2	29.05	31.21	31.97	33.09	30.55	34.74	32.09	30.69	35.4	50.77	36.42	27.05
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	12,715	20,875	21,888	26,152	28,788	29,532	42,377	44,864	59,134	67,337	90,176	58,732	49,992	39,390	38,658
- Cash & Cash Equivalents	80	441	223	151	179	568	314	277	196	232	292	156	105	100	99
+ Preferred Equity and Hybrid Capital	305	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	1	13	14	21	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	6,886	11,611	11,594	11,921	12,150	12,171	16,159	16,682	23,931	25,417	27,009	27,960	28,814	29,380	29,566
Enterprise Value	19,826	32,057	33,274	37,943	40,759	41,136	58,222	61,269	82,869	92,522	116,893	86,536	78,701	68,670	68,125
Total Capital	4,382	9,001	9,077	9,130	9,695	8,796	11,658	10,491	16,570	16,949	17,260	17,298	16,929	10,859	9,409
Total Debt/Capital (%)	157.13	129	127.74	130.57	125.32	138.37	138.61	159.01	144.42	149.96	156.48	161.64	170.2	270.56	314.23
Total Debt / EV	0.35	0.36	0.35	0.31	0.3	0.3	0.28	0.27	0.29	0.27	0.23	0.32	0.37	0.43	0.43
EV/Sales	9.75	13.18	11.61	10.72	11.12	10.49	13.68	11.41	14.38	15.84	18.44	12.39	16.62	15.4	15.98
EV/EBITDA	15.6	23.59	20.49	19.66	20.1	20	25.51	21.45	26.22	26.74	33.19	20.9	26.53	23.4	24.54
EV/EBIT	27.62	43.52	37.69	40.17	41.12	43.39	55.93	46.07	52.15	49.96	62.24	35.57	36.1	31.23	32.66
EV/Cash Flow to Firm	18.98	17.86	24.53	17.47	17.48	18.21	22.71	19.75	24.78	24.95	34.92	24.41	20.01	17.93	17.1
EV/Free Cash Flow to Firm	18.98	17.86	24.53	17.47	17.48	18.21	22.71	19.75	24.78	24.95	34.92	24.41	20.01	17.93	17.1
Diluted Market Cap	12,810	21,018	21,977	26,228	28,880	29,578	42,541	45,081	59,419	67,656	90,593	58,868	49,992	39,390	38,836
Diluted Enterprise Value	19,922	32,200	33,363	38,019	40,851	41,182	58,386	61,486	83,154	92,841	117,310	86,672	78,701	68,670	68,303
EV per Share	69.86	110.82	111.63	114.18	122.4	120.86	152.52	148.35	199.21	218.73	270.58	199.85	181.34	158.23	156.61
TTM Sales	2,033	2,433	2,866	3,539	3,664	3,921	4,255	5,370	5,763	5,840	6,340	6,986	4,734	4,460	4,264
TTM EBITDA	1,271	1,359	1,624	1,930	2,027	2,057	2,282	2,857	3,161	3,460	3,522	4,140	2,967	2,935	2,776
TTM Operating Income	718	737	883	944	991	948	1,041	1,330	1,589	1,852	1,878	2,433	2,180	2,199	2,086
TTM Cash Flow to Firm	1,045	1,795	1,356	2,172	2,332	2,259	2,564	3,102	3,344	3,709	3,348	3,545	3,932	3,829	3,985
TTM Free Cash Flow to Firm	1,045	1,795	1,356	2,172	2,332	2,259	2,564	3,102	3,344	3,709	3,348	3,545	3,932	3,829	3,985

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	19.91	27.21	17.76	15.74	16.1	16.55	20.94	18.03	22.02	22.15	33.22	20.45	15.99	13.38	12.7
EV/EBIT	27.62	43.52	37.69	40.17	41.12	43.39	55.93	46.07	52.15	49.96	62.24	35.57	36.1	31.23	32.66
Enterprise Value	19,826	32,057	33,274	37,943	40,759	41,136	58,222	61,269	82,869	92,522	116,893	86,536	78,701	68,670	68,125
Low Price	36.38	44.62	66.13	68.44	75.78	75.71	83.96	98.85	104.22	114.18	146.15	121.71	84.72	88.92	84.2
EV/Sales	9.75	13.18	11.61	10.72	11.12	10.49	13.68	11.41	14.38	15.84	18.44	12.39	16.62	15.4	15.98
EV/EBITDA	15.6	23.59	20.49	19.66	20.1	20	25.51	21.45	26.22	26.74	33.19	20.9	26.53	23.4	24.54
Price/Earnings	85.83	112.26	277.95	75.47	19.49	91.15	137.59	88.14	79.16	67.4	82.28	35.06	33.28	- -	87.07
Price/Earnings Average	80.46	91.29	274.64	73.33	18.87	94.43	123.33	87.95	72.57	67.5	71.57	43.04	33.44	-11.73	95
Price/Earnings High	88.65	112.48	307.21	81.48	20.16	108.01	142.5	95.42	83.24	76.22	82.72	54.03	44.49	-13.45	113.41
Price/Earnings Low	69.7	69.41	250.32	65.63	17.09	79.53	104.06	80.21	58.04	48.35	57.61	31.46	24.48	-9.89	82.49
Price/Book Value	-4.53	-7.96	-8.64	-9.3	-11.73	-8.75	-9.42	-7.25	-8.03	-7.95	-9.25	-5.51	-4.21	-2.13	-1.92
Price/Book Value Average	-4.24	-6.47	-8.54	-9.04	-11.35	-9.06	-8.44	-7.23	-7.36	-7.96	-8.05	-6.76	-4.23	-2.47	-2.09
Price/Book Value High	-4.67	-7.97	-9.55	-10.04	-12.13	-10.37	-9.75	-7.85	-8.45	-8.99	-9.3	-8.49	-5.62	-2.83	-2.5
Price/Book Value Low	-3.68	-4.92	-7.78	-8.09	-10.28	-7.63	-7.12	-6.59	-5.89	-5.7	-6.48	-4.94	-3.09	-2.08	-1.82
Price/Tangible Book Value	-6.96	-6.71	-10.77	-12.22	-13.06	-15.96	-11.63	-11.15	-13.36	-13.33	-15.37	-9.42	-7.26	-6.26	-5.07
Price/Tangible Book Value Average	-6.53	-5.46	-10.64	-11.87	-12.64	-16.53	-10.42	-11.13	-12.25	-13.35	-13.37	-11.57	-7.3	-7.27	-5.53
Price/Tangible Book Value High	-7.19	-6.72	-11.9	-13.19	-13.51	-18.91	-12.04	-12.07	-14.05	-15.08	-15.46	-14.52	-9.71	-8.33	-6.61
Price/Tangible Book Value Low	-5.65	-4.15	-9.7	-10.62	-11.45	-13.92	-8.8	-10.15	-9.8	-9.56	-10.76	-8.46	-5.34	-6.13	-4.8
Price/Sales	6.26	8.58	7.64	7.39	7.86	7.53	9.96	8.35	10.26	11.53	14.22	8.41	10.56	8.83	9.07
Price/Sales Average	5.86	6.98	7.55	7.18	7.61	7.8	8.93	8.34	9.41	11.55	12.37	10.32	10.61	10.26	9.89
Price/Sales High	6.46	8.6	8.44	7.98	8.13	8.92	10.31	9.04	10.79	13.04	14.3	12.95	14.12	11.77	11.81
Price/Sales Low	5.08	5.31	6.88	6.43	6.89	6.57	7.53	7.6	7.52	8.27	9.96	7.54	7.77	8.65	8.59
Price/Cash Flow	19.76	27.02	17.69	15.7	16.05	16.53	20.85	17.95	21.92	22.04	33.07	20.41	15.99	13.38	12.65
Price/Cash Flow Average	18.52	21.97	17.47	15.25	15.53	17.12	18.69	17.91	20.09	22.07	28.76	25.05	16.07	15.55	13.8
Price/Cash Flow High	20.41	27.07	19.55	16.95	16.6	19.58	21.6	19.43	23.05	24.92	33.25	31.44	21.38	17.83	16.47
Price/Cash Flow Low	16.05	16.71	15.93	13.65	14.07	14.42	15.77	16.33	16.07	15.81	23.15	18.31	11.76	13.11	11.98
Price/Free Cash Flow Average	18.66	22.12	17.55	15.3	15.58	17.15	18.77	17.99	20.19	22.18	28.9	25.11	16.07	15.55	13.86
Price/Free Cash Flow High	20.56	27.26	19.63	17	16.65	19.61	21.68	19.52	23.16	25.04	33.4	31.52	21.38	17.83	16.55
Price/Free Cash Flow Low	16.17	16.82	15.99	13.69	14.11	14.44	15.83	16.41	16.15	15.88	23.26	18.35	11.76	13.11	12.04
EV/Sales Average	9.36	11.57	11.52	10.51	10.87	10.76	12.65	11.39	13.53	15.86	16.59	14.3	16.67	16.83	16.8
EV/Sales High	9.96	13.19	12.41	11.31	11.4	11.88	14.04	12.1	14.91	17.35	18.51	16.93	20.18	18.33	18.72
EV/Sales Low	8.58	9.9	10.85	9.76	10.15	9.53	11.26	10.66	11.64	12.58	14.17	11.52	13.83	15.22	15.5
EV/EBITDA Average	14.97	20.72	20.33	19.27	19.65	20.52	23.59	21.41	24.66	26.77	29.86	24.13	26.6	25.57	25.81
EV/EBITDA High	15.93	23.62	21.91	20.74	20.6	22.65	26.18	22.74	27.18	29.28	33.33	28.58	32.2	27.86	28.75
EV/EBITDA Low	13.72	17.72	19.15	17.89	18.35	18.17	20.99	20.03	21.22	21.24	25.51	19.45	22.07	23.12	23.81
EV/EBIT Average	26.51	38.23	37.4	39.39	40.19	44.51	51.71	45.99	49.05	50.01	55.99	41.06	36.21	34.13	34.35
EV/EBIT High	28.2	43.58	40.3	42.38	42.13	49.15	57.38	48.85	54.07	54.71	62.5	48.62	43.82	37.18	38.27
EV/EBIT Low	24.29	32.71	35.23	36.56	37.54	39.42	46.01	43.03	42.22	39.68	47.85	33.09	30.04	30.86	31.68
Last Price	44.8	72.16	73.43	78.7	86.45	86.77	111.01	108.63	142.15	159.19	208.74	135.64	115.19	90.76	88.87
High Price	46.27	72.3	81.16	84.97	89.44	102.82	114.97	117.6	149.47	180	209.87	209	153.98	120.92	115.76
Enterprise Value Average	19,031	28,157	33,013	37,202	39,837	42,200	53,832	61,172	77,946	92,622	105,157	99,894	78,932	75,058	71,645
Enterprise Value High	20,244	32,098	35,578	40,026	41,755	46,598	59,734	64,974	85,915	101,325	117,381	118,301	95,536	81,759	79,823
Enterprise Value Low	17,437	24,090	31,098	34,533	37,206	37,371	47,896	57,230	67,091	73,483	89,854	80,504	65,477	67,871	66,094

Shares Outstanding	284	293	334	334	334	361	406	415	416	431	432	433	434	435	435
Diluted Weighted Avg Shares	286	291	299	333	334	341	383	415	418	425	434	434	434	434	437
Basic Weighted Avg Shares	284	289	298	332	333	340	382	413	416	423	432	433	434	434	435
Revenue per Share	7.16	8.41	9.61	10.65	11	11.52	11.15	13	13.85	13.81	14.68	16.13	10.91	10.28	9.8
EBITDA per Share	4.48	4.7	5.45	5.81	6.09	6.04	5.98	6.92	7.6	8.18	8.15	9.56	6.84	6.76	6.38
Operating Income per Share	2.53	2.55	2.96	2.84	2.98	2.79	2.73	3.22	3.82	4.38	4.35	5.62	5.02	5.07	4.8
Basic EPS, GAAP	0.52	0.64	0.26	1.04	4.44	0.95	0.81	1.23	1.8	2.36	2.54	3.87	3.46	-8.99	1.02
Basic EPS from Cont Ops	0.6	0.69	0.2	1.04	1.58	1.05	0.96	1.51	2.07	2.5	2.68	3.87	2.85	2.68	2.54
Diluted EPS, GAAP	0.52	0.64	0.26	1.04	4.42	0.95	0.8	1.23	1.79	2.35	2.53	3.86	3.46	-8.99	1.02
Diluted EPS from Cont Ops	0.6	0.69	0.2	1.04	1.57	1.05	0.96	1.5	2.06	2.48	2.67	3.86	2.85	2.68	2.52
Dividend per Share	0.07	0.01	- -	2.01	3.48	3.77	4.03	4.59	4.87	5.18	5.49	6.01	6.27	6.29	4.78
Cash Flow per Share	2.27	2.67	4.15	5.01	5.39	5.25	5.32	6.05	6.49	7.22	6.31	6.65	7.2	6.78	7.03
Free Cash Flow per Basic Share	2.27	2.67	4.15	5.01	5.39	5.25	5.32	6.05	6.49	7.22	6.31	6.65	7.2	6.78	7.03
Cash & Equivalents per Share	0.28	1.53	0.75	0.46	0.54	1.67	0.82	0.67	0.47	0.55	0.68	0.36	0.24	0.23	0.23
Book Value per Share	-9.9	-9.07	-8.5	-8.46	-7.37	-9.92	-11.79	-14.99	-17.69	-20.02	-22.57	-24.62	-27.38	-42.68	-46.34
Tangible Book Value per Share	-6.44	-10.75	-6.82	-6.44	-6.62	-5.44	-9.55	-9.74	-10.64	-11.94	-13.58	-14.39	-15.86	-14.51	-17.52

Crown Castle Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)