Crown Castle

Communications fiber optic infrastructure telecommunications wireless

Crown Castle owns, operates and leases shared wireless infrastructure that is geographically dispersed throughout the United States and Puerto Rico, including towers and other structures, such as rooftops, and fiber primarily supporting small cell networks. The Company's core business is providing access, including space or capacity, to a shared wireless infrastructure via long-term contracts in various forms, including license, sublease and lease agreements.

Revenue(FY, 2016)

$3.9 B

Market capitalization(2018-04-18)

$40.8 B

Type

Public

Houston, US

Founded

1994

Size (employees)

2,700 (est)

Website

crowncastle.com

Crown Castle was founded in 1994 and is headquartered in Houston, US

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Key People/Management at Crown Castle

Jay Brown

President and Chief Executive Officer

Laura Nichol

Senior Vice President, Business Support

James Young

Senior Vice President and Chief Operating Officer, Fiber

Robert Ackerman

Senior Vice President and Chief Operating Officer, Towers and Small Cells

Daniel Schlanger

Senior Vice President and Chief Financial Officer

Kenneth Simon

Senior Vice President and General Counsel

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Crown Castle Office Locations

Crown Castle has offices in Memphis, Virginia Beach, Ogden, Salt Lake City and in 73 other locations

Houston, US (HQ)

600 1220 Augusta Dr

Canonsburg, US

2000 Corporate Dr

Memphis, US

6380 E Holmes Rd

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Crown Castle Financials and Metrics

Crown Castle Financials

Crown Castle's revenue was reported to be $3.92 b in FY, 2016 which is a 7% increase from the previous period.

Summary

USD
Revenue (Q2, 2017)	1 b
Net income (Q2, 2017)	112.1 m
EBIT (Q2, 2017)	258.5 m
Market capitalization (18-Apr-2018)	40.8 b
Cash (30-Jun-2017)	199.7 m
EV	54.5 b

Crown Castle's current market capitalization is $40.8 b.

Source: SEC Filings

Income Statement

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Revenue	3 b	3.7 b	3.7 b	3.9 b
Revenue growth, %		22%	(1%)	7%
EBIT	921.8 m	993.6 m	946.2 m	949.2 m
EBIT margin, %	30%	27%	26%	24%

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017
Revenue	749 m	876 m	916.3 m	930 m	900.5 m	899.4 m	918.1 m	934.4 m	962.4 m	992 m	1 b	1 b
General and administrative expense	58.5 m	64.8 m	69.2 m	71.4 m	79.5 m	73.1 m	76.7 m	97.6 m	91.4 m	89.9 m	100.7 m	97.7 m
Operating expense total	526.1 m	624.4 m	686.2 m	679.7 m	678 m	658.7 m	687.3 m	722.6 m	731.2 m	747.8 m	759.4 m	779.8 m
EBIT	222.8 m	251.6 m	230.2 m	250.3 m	244.9 m	240.7 m	230.8 m	211.7 m	231.2 m	244.3 m	256.5 m	258.5 m

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Source: SEC Filings

Balance Sheet

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Cash	223.4 m	175.6 m	178.8 m	567.6 m
Accounts Receivable	249.9 m	329.2 m	313.3 m	373.5 m
Prepaid Expenses	132 m	155.1 m	133.2 m	128.7 m
Current Assets	892.7 m	931.5 m	981.2 m	1.3 b

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017
Cash	218.6 m	200.5 m	227.5 m	238.6 m	240.2 m	338.6 m	184.1 m	175.7 m	202.3 m	156.2 m	205.2 m	199.7 m
Accounts Receivable					292.6 m	253.3 m	324.6 m	254.7 m	229 m	276.3 m	302.7 m	306 m
Prepaid Expenses					144.3 m	138.4 m	143.7 m	141.5 m	138 m	157.1 m	153.3 m	176 m
Current Assets	999.8 m	852.3 m	947.7 m	978.8 m	927.5 m	1.1 b	1 b	820.9 m	817.6 m	839.7 m	916.4 m	951.3 m

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Cash Flow

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Net Income	93.9 m	398.8 m	525.3 m	357 m
Depreciation and Amortization	774.2 m	1 b	1 b	1.1 b
Accounts Payable	28.7 m	10.3 m	(5.3 m)	10.6 m
Cash From Operating Activities	1.2 b	1.7 b	1.8 b	1.8 b

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017
Net Income	46.5 m	102.8 m	35.4 m	108 m	111.7 m	278.3 m	382.6 m	47.8 m	133.9 m	232.3 m	119.1 m	231.3 m
Depreciation and Amortization	195.4 m	250.2 m	254.2 m	254.9 m	251.8 m	505 m	766.6 m	277.9 m	553.9 m	834.7 m	288.5 m	584.2 m
Accounts Payable					(6.9 m)	1.5 m	(8.3 m)	(9.4 m)	(6.7 m)	(12.5 m)	(29.8 m)	(16.9 m)
Cash From Operating Activities					453.1 m	918.9 m	1.3 b	437.7 m	918.2 m	1.3 b	446.1 m	934.1 m

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Ratios

USD	Y, 2017
EV/EBIT	210.8 x
EV/CFO	58.3 x
EV/FCF	147 x
Debt/Equity	1.8 x
Debt/Assets	0.6 x
Financial Leverage	3.2 x

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Crown Castle Operating Metrics

	FY, 2014	FY, 2015	Q1, 2016	Q2, 2016	Q3, 2016	FY, 2016	Q1, 2017	Q2, 2017
Fiber Miles		16 k	16.50 k	17 k	17 k	26.50 k	27.50 k	29 k
Towers	41.80 k	40 k	40 k	40 k	40 k	40 k	40 k	40 k

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Crown Castle Acquisitions / Subsidiaries

Acquired Company	Date	Deal Size
CCS & E LLC
CC Towers Holding LLC
CCATT LLC
CCGS Holdings Corp.
Crown Castle GT Company LLC
Fibernet Direct Holdings LLC
Global Signal Operating Partnership L.P.
InfraSource FI LLC
Pinnacle Towers Acquisition Holdings LLC
WCP Wireless Site RE Holdco LLC