Question 1

What is Crown Castle's P/FCF ratio?

Accepted Answer

Crown Castle (CCI) P/FCF ratio is 15.1× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Crown Castle?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Crown Castle specifically, the relevant sector benchmark is the current sector median of 17.0×.

Question 5

Is Crown Castle's P/FCF ratio high or low?

Accepted Answer

Crown Castle's P/FCF ratio of 15.1× is below its own 5-year average of 32.4× and below the sector median of 17.0×. That places the current reading at the 11th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Crown Castle's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Crown Castle (CCI) P/FCF ratio has ranged from a low of 1.5× in 2004 to a high of 339.3× in 2008. The 5-year average is 32.4× and the 5-year median is 29.4×.

Question 7

What was Crown Castle's P/FCF ratio in 2025?

Accepted Answer

Crown Castle (CCI) P/FCF ratio at the end of 2025 was 13.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Crown Castle's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$38.66B	$2.88B	13.4×	-9.4×	Dec 31, 2025
2024	$39.39B	$1.72B	22.9×	-6.5×	Dec 31, 2024
2023	$49.99B	$1.70B	29.4×	-8.1×	Dec 31, 2023
2022	$58.73B	$1.57B	37.5×	-22.7×	Dec 31, 2022
2021	$90.18B	$1.50B	60.2×	+12.3×	Dec 31, 2021
2020	$68.61B	$1.43B	47.9×	-44.3×	Dec 31, 2020
2019	$59.13B	$641.00M	92.3×	+33.0×	Dec 31, 2019
2018	$45.08B	$761.00M	59.2×	+4.0×	Dec 31, 2018
2017	$45.10B	$816.12M	55.3×	+21.6×	Dec 31, 2017
2016	$30.55B	$908.38M	33.6×	+1.2×	Dec 31, 2016
2015	$28.80B	$887.83M	32.4×	+2.9×	Dec 31, 2015
2014	$26.16B	$886.05M	29.5×	-4.4×	Dec 31, 2014
2013	$22.71B	$669.85M	33.9×	-28.3×	Dec 31, 2013
2012	$20.61B	$331.17M	62.2×	+19.6×	Dec 31, 2012
2011	$12.59B	$295.51M	42.6×	+9.2×	Dec 31, 2011
2010	$12.55B	$375.37M	33.4×	+5.2×	Dec 31, 2010
2009	$11.22B	$397.72M	28.2×	-52.4×	Dec 31, 2009
2008	$5.02B	$62.27M	80.7×	-150.1×	Dec 31, 2008
2007	$11.62B	$50.35M	230.8×	—	Dec 31, 2007
2006	$8.83B	−$147.01M	—	—	Dec 31, 2006
2005	$5.75B	$143.86M	39.9×	-14.0×	Dec 31, 2005
2004	$3.71B	$68.74M	53.9×	+36.9×	Dec 31, 2004
2003	$2.41B	$141.13M	17.1×	—	Dec 31, 2003
2002	$806.77M	−$68.33M	—	—	Dec 31, 2002
2001	$2.31B	−$551.17M	—	—	Dec 31, 2001


Kimco Realty (KIM)	19.3×
Simon Property Group (SPG)	18.5×
SBA Communications (SBAC)	17.9×
BXP (BXP)	17.7×
Equity Residential (EQR)	17.6×
Federal Realty Investment Trust (FRT)	17.3×
STAG Industrial (STAG)	17.2×
Tanger (SKT)	17.0×
Essex Property Trust (ESS)	16.2×
Extra Space Storage (EXR)	15.8×
Public Storage (PSA)	15.5×
AvalonBay Communities (AVB)	15.2×
Camden Property Trust (CPT)	14.3×
Realty Income (O)	13.6×
Invitation Homes (INVH)	13.3×
Medical Properties Trust (MPT)	12.8×
Host Hotels & Resorts (HST)	12.7×
UDR (UDR)	12.4×
NNN REIT (NNN)	12.2×
VICI Properties (VICI)	11.4×
Universal Health Realty Income Trust (UHT)	11.3×
Healthpeak Properties (DOC)	9.7×
Arbor Realty Trust (ABR)	7.6×
Alexandria Real Estate Equities (ARE)	6.2×
Opendoor Technologies (OPEN)	4.2×

P/FCF Ratio for Crown Castle (CCI)

P/FCF Ratio daily chart for Crown Castle (CCI)

Historical P/FCF Ratio for Crown Castle (CCI) from 2001 to 2025

About P/FCF Ratio at Crown Castle (CCI)

Crown Castle P/FCF Ratio by Year

Crown Castle P/FCF Ratio 2025: 13.4×

Crown Castle P/FCF Ratio 2024: 22.9×

Crown Castle P/FCF Ratio 2023: 29.4×

Crown Castle P/FCF Ratio 2022: 37.5×

Crown Castle P/FCF Ratio 2021: 60.2×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Crown Castle (CCI) Key Financials

P/FCF Ratio daily chart for Crown Castle (CCI)

Historical P/FCF Ratio for Crown Castle (CCI) from 2001 to 2025

About P/FCF Ratio at Crown Castle (CCI)

Crown Castle P/FCF Ratio by Year

Crown Castle P/FCF Ratio 2025: 13.4×

Crown Castle P/FCF Ratio 2024: 22.9×

Crown Castle P/FCF Ratio 2023: 29.4×

Crown Castle P/FCF Ratio 2022: 37.5×

Crown Castle P/FCF Ratio 2021: 60.2×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is Crown Castle's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for Crown Castle?

+Is Crown Castle's P/FCF ratio high or low?

+What is Crown Castle's historical P/FCF ratio range?

+What was Crown Castle's P/FCF ratio in 2025?

+Why does Crown Castle's P/FCF ratio change over time?

Crown Castle (CCI) Key Financials