Crown Castle Inc. (CCI)财务
NYSE · Real Estate · REIT - Specialty · 员工1,500人 · CEO Christian H. Hillabrant
- 股价
- $88.69 -0.16%
- 市值
- $388亿
- 企业价值
- $615亿
- 最近财报
- Q3 '26 2026-10-21提交
- 下次财报
- 2027-02-03
营收(TTM)$40.9亿-15.6% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)47.2%+108.2 百分点 对比去年同期营业利润 $19.3亿
净利润(TTM)$10.4亿+122.4% 对比去年同期税后,含营业外收益
自由现金流(TTM)$18.8亿-29.4% 对比去年同期资本支出 $2.41亿
稀释EPS(TTM)$2.39+122.5% 对比去年同期最近4个季度之和
净现金-$228亿+23.0% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $388亿 EV $615亿
- 营收
- $40.9亿 过去12个月
- 营收增速
- -5% FY2026年一致预期
- 净利润率
- 25.3% 净利润 / 营收,TTM
- P/E
- 37.0× 预期 45.9×(FY2026)
- P/S
- 9.5× 股价 / 营收,TTM
- EV / EBITDA
- 23.1× TTM
- 自由现金流
- $18.8亿 过去12个月
- 净利润
- $10.4亿 过去12个月
- 营收预期
- $40.3亿 FY2026年一致预期
- 盈利
- 2027-02-03
- 股息
- $4.25 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 营收增长加速:同比-7.2%Q3 '26营收$9.95亿,此前四个季度的平均值为-20.0%。
- 营业利润率47.2%(TTM),较去年同期+108.2 百分点营收增长-15.6%,营业利润增长165.3%。
- 税前利润的75.8%被营业外亏损吞噬税前利润$11亿,营业利润$19.3亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的5.9%(去年为8.2%)最近4个季度投入$2.41亿(同比-39.6%)。自由现金流$18.8亿,相当于净利润的181.8%。
- 股东回报$28.9亿 = 自由现金流的153.7%回购$10.4亿(去年为$2400万),股息$18.5亿,股权激励$8200万(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少2.5%Q3 '26稀释股数4.26亿,一年前为4.37亿。
- 净债务 $228亿现金 + 短期投资 $1.33亿,含租赁债务 $229亿;一年前净债务 $296亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $9.95亿 | $10.7亿 | -7.2% |
| 毛利率 | 73.8% | 73.9% | -0.1 百分点 |
| 营业利润 | $4.65亿 | $5.25亿 | -11.4% |
| 营业利润率 | 46.7% | 49.0% | -2.2 百分点 |
| 净利润 | $2.83亿 | $3.23亿 | -12.4% |
| 稀释EPS | $0.67 | $0.74 | -9.5% |
| 经营现金流 | $2.13亿 | $7.14亿 | -70.2% |
| 资本支出 | $6600万 | $4300万 | +53.5% |
| 自由现金流 | $1.47亿 | $6.71亿 | -78.1% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $1800万 | $1900万 | -5.3% |
营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q4 '24 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Towers | $11.2亿 | -2.0% | 67.9% | $44.6亿 | -5.8% | |
| Fiber | $5.29亿 | -0.4% | 32.1% | $21.1亿 | -6.1% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $21.2亿
- 资本支出
- -$2.41亿
- 股票回购
- -$10.4亿
- 股息
- -$18.5亿
- 收购
- $0
- 债务净发行
- -$60.1亿
- 股权激励费用
- $8200万
- 自由现金流
- $18.8亿
- 股东回报 / FCF
- 153.7%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 37.0× | 59.4× 5年中的4年 | 33.3× – 87.1× |
| EV / EBITDA | 23.1× | 24.7× 5年中的4年 | 19.2× – 33.8× |
| EV / 营收 | 15.1× | 13.7× | 10.5× – 18.4× |
| 股价 / FCF | 20.6× | 32.7× | 13.4× – 60.2× |
| 股价 / 净资产 | -11.0× | 8.9× 5年中的3年 | 7.8× – 10.9× |
| FCF收益率 | 4.9% | 3.9% | 1.7% – 7.4% |
| 投入资本回报率 | 9.5% | 3.1% | -9.3% – 6.8% |
| 净资产收益率 | -40.4% | 593.3% | -27.2% – 2,934.6% |
分析师
一致目标价 $89.25 (+0.6%)
区间 $84.00 – $95.00 · 评级 Buy
强烈买入1
买入24
持有21
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $40.3亿 | -5.4% | $1.93 | +89.4% | 45.9× | 7 |
| FY2027 | $41亿 | +1.6% | $2.86 | +47.8% | 31.1× | 9 |
| FY2028 | $41.9亿 | +2.2% | $2.93 | +2.7% | 30.2× | 12 |
| FY2029 | $44.1亿 | +5.3% | $3.26 | +11.0% | 27.2× | 9 |
| FY2030 | $45.4亿 | +3.0% | $3.43 | +5.4% | 25.9× | 5 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Crown Castle Inc.在近期10-Q / 10-K文件中标记的全部224项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| $10亿2026-03-31 | – | – | – | – | – | |
| Accounts Payable, Current | $9000万2026-06-30 | $4800万 | +87.5% | $7100万 | $4800万 | +47.9% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $1.79亿2026-06-30 | $1亿 | +79.0% | $1.72亿 | $1.29亿 | +33.3% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $111亿2026-06-30 | $106亿 | +4.1% | -$108亿 | -$104亿 | -4.1% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$500万2026-06-30 | -$500万 | 0.0% | -$500万 | -$500万 | 0.0% |
| Additional Paid in Capital | $186亿2026-06-30 | $185亿 | +0.6% | $185亿 | $184亿 | +0.7% |
| Amortization of Debt Issuance Costs | $700万2026-06-30 | $800万 | -12.5% | $3100万 | $3200万 | -3.1% |
| Amortization of Debt Issuance Costs and Discounts | $700万2026-06-30 | $800万 | -12.5% | $3200万 | $3200万 | 0.0% |
| Amortization of Intangible Assets | – | – | – | $1.77亿 | $1.98亿 | -10.6% |
| Asset Impairment Charges | $200万2026-06-30 | $200万 | 0.0% | $1100万 | $1100万 | 0.0% |
| Asset Retirement Obligation, Accretion Expense | – | – | – | $2500万 | $2300万 | +8.7% |
| Asset Retirement Obligation, Liabilities Settled | – | – | – | $400万 | $100万 | +300.0% |
| Asset Retirement Obligation, Period Increase (Decrease) | – | – | – | $0 | $100万 | -100.0% |
| Assets | $215亿2026-06-30 | $316亿 | -32.0% | $315亿 | $327亿 | -3.7% |
| Assets, Current | $17.2亿2026-06-30 | $10.7亿 | +59.8% | $11.4亿 | $10.9亿 | +5.0% |
| Business Combination, Consideration Transferred | $02025-12-31 | – | – | $85亿 | – | – |
| Cash and Cash Equivalents, at Carrying Value | $10.4亿2026-06-30 | $9400万 | +1,008.5% | $9900万 | $1亿 | -1.0% |
| Cash and Cash Equivalents, Fair Value Disclosure | $10.4亿2026-06-30 | $9400万 | +1,008.5% | $9900万 | $1亿 | -1.0% |
| Cash Provided by (Used in) Investing Activities, Discontinued Operations | $83.5亿2026-06-30 | -$2.29亿 | +3,744.1% | -$9.8亿 | -$10.5亿 | +6.2% |
| Cash Provided by (Used in) Operating Activities, Discontinued Operations | -$1.05亿2026-06-30 | $3.11亿 | -133.8% | $11.9亿 | $11.2亿 | +5.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $12.5亿2026-06-30 | $2.74亿 | +357.7% | $3.08亿 | $2.95亿 | +4.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | $9.29亿2026-06-30 | -$400万 | +23,325.0% | $1300万 | $1500万 | -13.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | – | – | – | $0 | -$100万 | +100.0% |
| Common Stock, Dividends, Per Share, Cash Paid | $1.062026-06-30 | $1.06 | 0.0% | $1.572022-12-31 | – | – |
| Common Stock, Dividends, Per Share, Declared | $1.062026-06-30 | $1.06 | 0.0% | $4.75 | $6.26 | -24.1% |
| Common Stock, Par or Stated Value Per Share | $0.012026-06-30 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 12亿2026-06-30 | 12亿 | 0.0% | 12亿 | 12亿 | 0.0% |
| Common Stock, Shares, Issued | 4.37亿2026-06-30 | – | – | 4.35亿 | 4.35亿 | 0.0% |
| Common Stock, Shares, Outstanding | 4.26亿2026-06-30 | 4.35亿 | -2.1% | 4.35亿 | 4.35亿 | 0.0% |
| Common Stock, Value, Issued | $400万2026-06-30 | $400万 | 0.0% | $400万 | $400万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $9400万2026-06-30 | $2.91亿 | -67.7% | $4.44亿 | -$39亿 | +111.4% |
| Contract with Customer, Liability, Revenue Recognized | $2800万2026-06-30 | $3200万 | -12.5% | $1.21亿 | $1.85亿 | -34.6% |
| Cost of Goods and Services Sold | $1900万2026-06-30 | $2700万 | -29.6% | $1.13亿 | $1.07亿 | +5.6% |
| Costs and Expenses | $5.38亿2026-06-30 | $5.54亿 | -2.9% | $21.9亿 | $23.4亿 | -6.5% |
| Current Federal Tax Expense (Benefit) | – | – | – | -$300万 | -$300万 | 0.0% |
| Current Foreign Tax Expense (Benefit) | – | – | – | -$1000万 | -$700万 | -42.9% |
| Current Income Tax Expense (Benefit) | – | – | – | -$1600万 | -$1400万 | -14.3% |
| Current State and Local Tax Expense (Benefit) | – | – | – | -$300万 | -$400万 | +25.0% |
| Debt and Lease Obligation | $182亿2026-06-30 | $243亿 | -24.9% | $243亿 | $241亿 | +1.2% |
| Debt Instrument, Unamortized Discount | $1.14亿2026-06-30 | $1.44亿 | -20.8% | $348万2015-12-31 | -$33.3万 | +1,144.4% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $1.3亿2025-12-31 | $1.58亿 | -17.7% | $1.3亿 | $1.58亿 | -17.7% |
| Debt, Current | $22.6亿2026-06-30 | $22.5亿 | +0.4% | $27.8亿 | $6.03亿 | +361.5% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $0 | $400万 | -100.0% |
| Deferred Income Tax Expense (Benefit) | $300万2026-06-30 | $0 | – | $0 | $400万 | -100.0% |
| Deferred Rent Receivables, Net | $1.91亿2026-06-30 | $2.05亿 | -6.8% | $1.67亿 | $1.64亿 | +1.8% |
| Deferred Rent Receivables, Net, Noncurrent | $22.6亿2026-06-30 | $22.8亿 | -0.8% | $22.9亿 | $22.8亿 | +0.4% |
| Deferred Revenue, Current | $2.59亿2026-06-30 | $1.39亿 | +86.3% | $1.92亿 | $1.41亿 | +36.2% |
| Deferred Tax Assets, Goodwill and Intangible Assets | $2900万2025-12-31 | $2900万 | 0.0% | $2900万 | $2900万 | 0.0% |
| Deferred Tax Assets, Gross | -$400万2025-12-31 | -$300万 | -33.3% | -$400万 | -$300万 | -33.3% |
| Deferred Tax Assets, Net | -$700万2025-12-31 | -$600万 | -16.7% | -$700万 | -$600万 | -16.7% |
| Deferred Tax Assets, Net of Valuation Allowance | $4200万2025-12-31 | $4300万 | -2.3% | $4200万 | $4300万 | -2.3% |
| Deferred Tax Assets, Operating Loss Carryforwards | $100万2025-12-31 | $100万 | 0.0% | $100万 | $100万 | 0.0% |
| Deferred Tax Assets, Other | $500万2025-12-31 | $600万 | -16.7% | $500万 | $600万 | -16.7% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $500万2025-12-31 | $500万 | 0.0% | $500万 | $500万 | 0.0% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Deferred Rent | $500万2025-12-31 | $500万 | 0.0% | $500万 | $500万 | 0.0% |
| Deferred Tax Assets, Valuation Allowance | $300万2025-12-31 | $300万 | 0.0% | $300万 | $300万 | 0.0% |
| Deferred Tax Liabilities, Gross | $4900万2025-12-31 | $4900万 | 0.0% | $4900万 | $4900万 | 0.0% |
| Deferred Tax Liabilities, Leasing Arrangements | $800万2025-12-31 | $700万 | +14.3% | $800万 | $700万 | +14.3% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $1100万2025-12-31 | $1200万 | -8.3% | $1100万 | $1200万 | -8.3% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-02