Crown Castle (CCI) FY2016 results: revenue $3.9 billion, up 7.0% on the year
Crown Castle Inc. (CCI) reported revenue of $3.9 billion for fiscal 2016, the year ended 31 December 2016, up 7.0% on the year before. Net income was $357 million, down 76.5%, and diluted earnings per share $0.95. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$3.9 billion
+7.0% on the year
FY2009FY2016
Operating margin
24.2%
25.8% a year earlier
FY2009FY2016
Net income
$357 million
-76.5% on the year
FY2009FY2016
Diluted EPS
$0.95
-78.5% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
3,921
3,664
3,539
+7.0%
Cost of revenue
1,441
1,321
1,307
+9.0%
Gross profit
2,480
2,342
2,232
+5.9%
Gross margin
63.3%
63.9%
63.1%
Selling, general and administrative
371
311
257
+19.3%
Operating income
949
946
941
+0.3%
Operating margin
24.2%
25.8%
26.6%
Interest expense
0.0
18.7
63.1
Pre-tax income
374
474
335
-21.1%
Income tax
-17.0
-51.5
-11.2
Effective tax rate
-4.5%
-10.9%
-3.4%
Net income
357
1,521
391
-76.5%
Net margin
9.1%
41.5%
11.0%
Diluted EPS
$0.95
$4.42
$1.04
-78.5%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,787
1,794
1,600
-0.4%
Capital expenditure
874
909
759
-3.9%
Free cash flow
913
885
842
+3.2%
Free cash flow margin
23.3%
24.2%
23.8%
Cash from investing
-1,429
-1,960
-1,217
Cash from financing
-89.0
-935
-463
Depreciation and amortisation
1,109
1,036
986
+7.0%
Share-based compensation
79.0
60.8
51.5
+30.0%
Buybacks
25.0
29.7
21.9
-15.7%
Dividends paid
1,239
1,116
624
+11.0%
Dividend per share
$3.61
$3.35
$1.87
+7.8%
Diluted shares, weighted
341m
334m
333m
+2.0%
Shares outstanding at period end
361m
334m
334m
+8.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
7,222
7,089
6,716
+1.9%
Non-controlling interest
n/a
0.0
21.0
Debt
12,171
12,249
11,921
-0.6%
Other liabilities
3,282
2,599
2,485
+26.3%
Total liabilities and equity
22,675
21,937
21,143
+3.4%
Fixed assets
9,805
9,580
8,983
+2.4%
Goodwill
5,758
5,514
5,196
+4.4%
Intangible assets
3,650
3,780
3,716
-3.4%
Cash and equivalents
568
179
151
+217.4%
Receivables
374
313
313
+19.2%
Other assets
2,521
2,571
2,784
-2.0%
Total assets
22,675
21,937
21,143
+3.4%
10-K for the year ended 31 December 2016, filed 25 February 2019: the filing.