Crown Castle (CCI) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Crown Castle stock $82.64, price $88.60, that is 6.7% below the price, quality 62 out of 100. Rating: fairly valued. Calculated from audited financials with 12 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range $66.12 – $164.14 · fair‑value band $33.27 – $140.91 · the $88.60 price screens above the $82.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Crown Castle Inc. owns, operates and leases approximately 40,000 cell towers and approximately 90,000 route miles of fiber. It primarily supports small cells and fiber solutions across every major U.S. market.
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This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service " bringing information, ideas and innovations to the people and businesses that need them.
Crown Castle Inc. was incorporated in 1994 and is based in Houston, United States.
Stock analysis
Crown Castle (CCI) currently trades at $88.60, while our model-based Fair Value estimate is $82.64, so the stock looks roughly fairly valued today (gap 7.2%).
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Valuation
Bull case: the Growth DCF group reads highest at a median of $112.83 per share, and 3 of the 11 models we run sit above the $88.60 price.
Bear case: the Multiples group reads lowest at $37.62, and 8 of the 11 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $33.27 (bear) to $140.91 (bull), the price of $88.60 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 62/100 (solid quality), in the Real Estate sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Crown Castle reported revenue of $4.3B in FY2025 versus $6.3B in FY2021, a compound −9.4%/yr. Reported net income was $444M in FY2025, compounding −20.2%/yr from FY2021.
Key figures
Market cap $38.5B Large · P/E ratio 35.6 · P/S ratio 3.70 · EPS (TTM) $2.49 · Dividend yield 4.8% · Net margin 10.4% · Return on equity −207% · Return on assets (EBIT) 3.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 70 out of 100 (medium confidence).
What moves the price
The share trades about 4% below its 52-week high and 34% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −27% fair-value upside, at −7%, CCI screens cheaper than that median.
Fair Value models
Bear$33.27Fair Value $82.64Bull$140.91
Price $88.60 · Downside -6.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Plus one other filing such as a grant, option exercise or tax withholding. It is not a market purchase or sale.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−35.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−15.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−6.1%
Start year 2020 (pandemic). Over 10 years: +1.5% a year
Revenue growth 28 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.2%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+7.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.6%
Dividend (yield on the price)4.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−16.4% vs −0.3%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.32% → 49%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+9.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+0.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +7.0% a year for the price and −2.1% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Moderate moat from tower scale and location scarcity is offset by elevated leverage and thin edges in human capital or innovation.
Main risk: T-Mobile, AT&T and Verizon account for around 90 percent of site rental revenues, so any reduction in their network spending, consolidation effects or contract changes could sharply cut demand for tower leases and pressure margins.
Bull case: By deepening ties with its three main carriers through flexible leasing and supporting their spectrum deployments plus any new entrants on its towers, Crown Castle could secure longer contracts and higher utilisation that offset concentration risks.
Bear case: If the three carriers further consolidate networks, delay deployments or shift more traffic to alternatives, Crown Castle could face sustained revenue declines and underutilised towers that erode its core leasing model.
Crown Castle now operates solely as a U.S. tower owner after streamlining its portfolio. Spectrum acquisitions by new players could open fresh leasing opportunities, yet the business still depends heavily on a handful of large carriers whose own networks face disruption. Will these shifts ultimately increase demand for its sites or mainly add volatility to future contracts?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.REIT - Specialty · 29 stocks
Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside−6.7% · Above median
Profitability
Return on equity (12 months)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets1.4% · Bottom 25%
Net margin (12 months)20.1% · Below median
Operating margin (12 months)47.4% · Below median
Growth and dividend
Revenue growth (quarter YoY)−7.2% · Bottom 25%
Dividend yield (12 months)4.8% · Below median
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs REIT - Specialty median · lower = cheaper
P/E (12 months)35.6× · Priciest 25%
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (12 months)9.42× · Pricier than median
Price / free cash flow (fiscal year)13.4× · Cheaper than median
EV/EBITDA22.6× · Priciest 25%
PEG0.69× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)24· sector 10
FUTURE (revenue growth)0· sector 16
PAST (return on equity)0· sector 32
HEALTH (low debt)0· sector 74
DIVIDEND (yield)96· sector 100
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Crown Castle Fair Value". https://www.fairvalue-calculator.com/stock/CCI
Frequently asked questions
Is Crown Castle (CCI) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $82.64 versus a price of $88.60, about 7% lower (fairly valued).
What is the fair value of CCI?
Our model-based fair value for Crown Castle is $82.64 (as of Nov 8, 2026), built from audited fundamentals. The current price: $88.60.
What is the quality score of CCI?
Crown Castle has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Crown Castle (CCI)?
Our model-based price target is the fair value of $82.64 (as of Nov 8, 2026) from 12 valuation models. Cautious scenario $33.27, optimistic scenario $140.91. It is a calculation from audited fundamentals, not an analyst target.
What is the Crown Castle stock forecast for 2026?
Our models put fair value at $82.64, about 7% lower versus a price of $88.60 (fairly valued). Cautious scenario $33.27, optimistic scenario $140.91. The calculation is refreshed regularly with new filings.
What is the revenue of Crown Castle (CCI)?
Crown Castle reported trailing-twelve-month revenue of about $4.1B (latest available figure, as of Nov 8, 2026).
Does Crown Castle pay a dividend?
Crown Castle currently shows a dividend yield of 4.80% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Crown Castle (CCI) and when is the ex-dividend date?
Crown Castle pays a dividend of $4.25 per share a year, a dividend yield of 4.8%. The last ex-dividend date was Sep 15, 2026. A dividend has been paid every year since at least 2014. The payout ratio is 68.8% of earnings (on adjusted earnings, reported 171%). Free cash flow covers the dividend 1.55 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Crown Castle (CCI)?
For today's price to be fair in a discounted-cash-flow model, Crown Castle would have to grow free cash flow by +9.6 % per year for five years (discount rate 9.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -6.1 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of CCI use?
Our models discount Crown Castle at 9.1 %: a base by market capitalisation (large), damped by beta 0.96, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Crown Castle that is +9.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.1 %) and the same formula as our fair value.
How much growth has Crown Castle (CCI) delivered so far?
Over the past 5 years revenue at Crown Castle grew -6.1 % a year. The price currently implies free-cash-flow growth of +9.6 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Crown Castle (CCI) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Crown Castle (+9.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Crown Castle (CCI)?
The free-cash-flow yield on the price is 7.48 %: that much free cash flow Crown Castle produces per unit of market value. When it exceeds the discount rate of our models (9.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Crown Castle (CCI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Crown Castle it is $82.64 per share (as of Nov 8, 2026), against a price of $88.60. It is the blended result of 12 valuation models in 4 families (DCF Models, Dividend Discount, Multiples, Growth DCF).
Is Crown Castle stock overvalued or undervalued in 2026?
As of Nov 8, 2026, CCI trades above its calculated fair value: price $88.60, fair value $82.64, a gap of about −7% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CCI?
No. The price is what the market pays today ($88.60); the fair value is what the company's own numbers justify ($82.64). For Crown Castle the two are $5.96 per share apart. That gap is exactly why we show both numbers side by side.
How much is Crown Castle worth?
The market values Crown Castle at about $38.5B (market capitalisation, as of Nov 8, 2026). Per share that is $88.60; our models calculate a fair value of $82.64 per share.
What do the bullish and bearish scenarios say about CCI?
Our models span a range for Crown Castle: cautious scenario $33.27, base $82.64, optimistic $140.91 per share (as of Nov 8, 2026, price $88.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CCI?
Crown Castle trades at a price-to-earnings ratio of 35.6 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $82.64 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 35.2 (reported for FY2025: 87.2). Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings, 8 of the years ex one-offs: 35.3. Other multiples: PEG 0.7, P/S 9.4, EV/EBITDA 22.6.
What is the PEG ratio of CCI?
The PEG ratio of Crown Castle is 0.69 (P/E divided by earnings growth, as of Nov 8, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Crown Castle (CCI)?
Balance-sheet figures for Crown Castle (as of Nov 8, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is CCI from its 52-week high?
Crown Castle trades at $88.60, about 4% below its 52-week high of $92.17 and 34% above the low of $66.12 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $82.64 is for.
Which stocks are comparable to Crown Castle?
From the same area (Real Estate) we also value Equinix, Inc, American Tower Corporation, Digital Realty Trust, Inc, Iron Mountain Incorporated, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Crown Castle stock attractive at the current price?
The data as of Nov 8, 2026: price $88.60, calculated fair value $82.64 (−7%), Quality Score 62/100, from 12 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CCI calculated?
We run Crown Castle through 12 models from 4 families: DCF Models, Dividend Discount, Multiples, Growth DCF. Every model gets the same audited fundamentals; the fair value of $82.64 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Crown Castle itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Crown Castle (CCI)?
The closing price on Nov 6, 2026 was $88.60. Our model-based fair value is $82.64, about 7% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Crown Castle right now?
The model range is unusually wide ($33.27 to $140.91). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Crown Castle (CCI) come from?
Earnings per share at Crown Castle grew +8.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.8 %, EBIT margin +5.0 %, tax rate −0.7 %, residual (interest, one-offs) +1.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Crown Castle
How large is the market capitalisation of Crown Castle (CCI)?
The market capitalisation of Crown Castle is $38.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Crown Castle (CCI)?
The price-to-sales ratio of Crown Castle is 3.70 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Crown Castle (CCI)?
Earnings per share at Crown Castle are $2.49 (price ÷ EPS = P/E 35.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Crown Castle (CCI)?
The dividend yield of Crown Castle is 4.8% (payout 68.8%, on adjusted earnings, reported 171%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Crown Castle (CCI)?
The net margin of Crown Castle is 10.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Crown Castle (CCI)?
The return on equity (ROE) of Crown Castle is −207% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Crown Castle (CCI)?
On an EBIT basis the return on assets of Crown Castle is 3.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Crown Castle (CCI)?
The operating margin of Crown Castle is 47.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Crown Castle (CCI)?
Revenue at Crown Castle is growing −7.2% versus a year earlier (3y avg −15.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Crown Castle (CCI)?
Earnings per share at Crown Castle are growing −10.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Crown Castle (CCI) carry?
The net debt of Crown Castle is $29.3B (fiscal year 2025, ≈ 10.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 8, 2026