Crown Castle vs SBA Communications
Crown Castle is the larger business, with $4.26bn of revenue in fiscal 2025 against $2.82bn for SBA Communications (1.5 times as much). SBA Communications grew faster (5.1% against -4.4%). SBA Communications kept more of each dollar of sales as profit: a net margin of 37.4% against 10.4%.
| Latest fiscal year | Crown CastleCCI, 2025 | SBA CommunicationsSBAC, 2025 |
|---|---|---|
| Revenue | $4.26bn | $2.82bn |
| Revenue growth | -4.4% | 5.1% |
| Net income | $444m | $1.05bn |
| Operating margin | 48.7% | 47.7% |
| Net margin | 10.4% | 37.4% |
| Return on equity | — | — |
| Free cash flow | $2.88bn | $1.07bn |
| Cash | $99.0m | $265m |
| Total debt | $24.47bn | $12.90bn |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | -6.2% | 2.6% |
| Share buybacks | −$23.0m | $498m |
| Employees | 3,900 | 1,844 |
| Market value | $37.07bn | $19.61bn |
| Price vs our value range | — | — |
| Moat score | 82 (Strong) | 97 (Strong) |
| Insider trades, 12 months | 1 buys, 4 sales | 0 buys, 1 sales |