Crown Castle (CCI) FY2023 results: revenue $4.7 billion, down 32.2% on the year
Crown Castle Inc. (CCI) reported revenue of $4.7 billion for fiscal 2023, the year ended 31 December 2023, down 32.2% on the year before. Net income was $1.5 billion, down 10.3%, and diluted earnings per share $3.46. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$4.7 billion
-32.2% on the year
FY2016FY2023
Operating margin
44.3%
34.7% a year earlier
FY2016FY2023
Net income
$1.5 billion
-10.3% on the year
FY2016FY2023
Diluted EPS
$3.46
-10.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
3,126
2,878
2,789
+8.6%
Capital expenditure
243
1,310
1,229
-81.5%
Free cash flow
2,883
1,568
1,560
+83.9%
Free cash flow margin
60.9%
22.4%
24.6%
Cash from investing
-1,519
-1,352
-1,332
Cash from financing
-1,654
-1,665
-1,310
Depreciation and amortisation
787
1,707
1,644
-53.9%
Share-based compensation
102
156
129
-34.6%
Buybacks
-30.0
-65.0
70.0
Dividends paid
-2,723
-2,602
2,373
Dividend per share
$6.26
$5.98
$5.46
+4.7%
Diluted shares, weighted
434m
434m
434m
0.0%
Shares outstanding at period end
434m
433m
432m
+0.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
6,381
7,449
8,258
-14.3%
Debt
22,921
21,729
20,629
+5.5%
Operating lease liabilities
5,561
5,881
6,031
-5.4%
Other liabilities
3,664
3,862
4,122
-5.1%
Total liabilities and equity
38,527
38,921
39,040
-1.0%
Fixed assets
15,666
15,407
15,269
+1.7%
Goodwill
10,085
10,085
10,078
0.0%
Intangible assets
3,179
3,596
4,046
-11.6%
Cash and equivalents
105
156
292
-32.7%
Receivables
481
593
543
-18.9%
Other assets
9,011
9,084
8,812
-0.8%
Total assets
38,527
38,921
39,040
-1.0%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.