Filing Flows › Crown Castle (CCI) › Q4 2025
Crown Castle (CCI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 23, 2026
Crown Castle (CCI) reported revenue of $1.1B for the fourth quarter 2025 (Q4 2025), -4% from a year earlier and -0.1% from the quarter before. Operating margin was 48.8%, net earnings $294M (27.5% of revenue).
Crown Castle, Q4 2025: revenue $1.1B (-4% year over year), operating margin 48.8%, net earnings $294M, operating cash flow $870M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | -0.1% | -4% |
| Operating profit | $523M | -0.4% | -8% |
| Net earnings | $294M | -9% | — |
| Operating cash flow | $870M | +22% | -0.8% |
| Free cash flow | $811M | +21% | -2% |
What changed
Revenue was $1.1B in Q4 2025, down 4% year over year and roughly flat from the previous quarter.
Operating profit was $0.52B, a 48.8% margin (down 2.1 points year over year). Total costs fell 0% while revenue fell 4%. The fastest-growing cost line was Cost of revenue (+12%). Net earnings were $0.29B. The effective tax rate was 1.0%.
Operating cash flow was $0.87B (down 1% year over year), 296% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.39B. Capital expenditures of $0.06B left free cash flow of $0.81B.
Questions
What was Crown Castle's revenue in the fourth quarter 2025?
Crown Castle (CCI) reported revenue of $1.1B for the fourth quarter 2025 (Q4 2025), -4% from a year earlier and -0.1% from the quarter before.
Was Crown Castle profitable in the fourth quarter 2025?
Operating profit was $523M (48.8% of revenue) and net earnings $294M.
Source: Crown Castle 10-K on SEC EDGAR.