Crown Castle (CCI) FY2015 results: revenue $3.7 billion, up 3.5% on the year
Crown Castle Inc. (CCI) reported revenue of $3.7 billion for fiscal 2015, the year ended 31 December 2015, up 3.5% on the year before. Net income was $1.5 billion, up 289.5%, and diluted earnings per share $4.42. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2016.
Revenue
$3.7 billion
+3.5% on the year
FY2008FY2015
Operating margin
25.8%
26.6% a year earlier
FY2008FY2015
Net income
$1.5 billion
+289.5% on the year
FY2008FY2015
Diluted EPS
$4.42
+325.0% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
3,664
3,539
2,866
+3.5%
Cost of revenue
1,321
1,307
991
+1.1%
Gross profit
2,342
2,232
1,875
+4.9%
Gross margin
63.9%
63.1%
65.4%
Selling, general and administrative
311
257
214
+20.8%
Operating income
946
941
881
+0.6%
Operating margin
25.8%
26.6%
30.7%
Interest expense
18.7
63.1
64.9
-70.3%
Pre-tax income
474
335
251
+41.4%
Income tax
-51.5
-11.2
191
Effective tax rate
-10.9%
-3.4%
76.1%
Net income
1,521
391
90.1
+289.5%
Net margin
41.5%
11.0%
3.1%
Diluted EPS
$4.42
$1.04
$0.26
+325.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,794
1,600
1,171
+12.1%
Capital expenditure
909
759
535
+19.8%
Free cash flow
885
842
636
+5.2%
Free cash flow margin
24.2%
23.8%
22.2%
Cash from investing
-1,960
-1,217
-5,459
Cash from financing
-935
-463
4,063
Depreciation and amortisation
1,036
986
741
+5.1%
Share-based compensation
60.8
51.5
39.0
+18.0%
Buybacks
29.7
21.9
99.5
+35.6%
Dividends paid
1,116
624
0.0
+78.8%
Dividend per share
$3.35
$1.87
$0.35
+79.1%
Diluted shares, weighted
334m
333m
299m
+0.2%
Shares outstanding at period end
334m
334m
334m
-0.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
7,089
6,716
6,927
+5.6%
Non-controlling interest
0.0
21.0
14.5
Debt
12,249
11,921
11,594
+2.8%
Other liabilities
2,599
2,485
2,059
+4.6%
Total liabilities and equity
21,937
21,143
20,595
+3.8%
Fixed assets
9,580
8,983
8,948
+6.6%
Goodwill
5,514
5,196
4,903
+6.1%
Intangible assets
3,780
3,716
4,058
+1.7%
Cash and equivalents
179
151
223
+18.2%
Receivables
313
313
250
-0.0%
Other assets
2,571
2,784
2,213
-7.6%
Total assets
21,937
21,143
20,595
+3.8%
10-K for the year ended 31 December 2015, filed 22 February 2016: the filing.