On 12 Nov 2026 our base value for Crown Castle is $64.53 a share, 28.1% below its $89.69 close; 0 of 1 valuation methods put it above the price.
| Method | Value | vs price | Basis |
|---|---|---|---|
| Discounted cash flow | — | — | not used for REITs: depreciation of property makes earnings and free cash flow understate what a REIT earns; see price to FFO |
| Exit multiple (P/E) | — | — | not used for REITs: depreciation of property makes earnings and free cash flow understate what a REIT earns; see price to FFO |
| Sum of the parts | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Price to sales | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Tangible book | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Price to FFO (REITs) | $64.53 | -28.1% | funds from operations $2.59 a share (FY2025) at its own 4-year median of 24.9× (today 34.6×) |
Each working is rebuilt by code from the valuation's own figures and checked against the published value.
| Fiscal year | Net income | Depreciation | FFO | Shares | FFO per share | Year-end close | P/FFO |
|---|---|---|---|---|---|---|---|
| 2021 | $1.16bn | $1.64bn | $2.80bn | 434.00m | $6.46 | $208.74 | 32.3× |
| 2022 | $1.68bn | $1.71bn | $3.38bn | 434.00m | $7.79 | $135.64 | 17.4× |
| 2023 | $1.50bn | $1.75bn | $3.26bn | 434.00m | $7.50 | $115.19 | 15.4× |
| 2025 | $444.00m | $690.00m | $1.13bn | 437.00m | $2.59 | $88.87 | 34.2× |
| Median P/FFO | 24.9× |
| Latest FFO per share (FY2025) | $2.59 |
| Value per share = median × latest FFO per share | $64.53 |
For a REIT the base value is the price-to-FFO value: $64.53 a share.
Bear $43.84 · Base $64.53 · Bull $85.14 (the REIT's own lower and upper quartile price-to-FFO)
One-year price simulation: a 50% chance the price is higher than today's $89.69 in a year, from 41.76% volatility. The simulation assumes the price drifts up at our discount rate of 9.32% a year.
| Week | Price | Base value |
|---|---|---|
| 2 Oct 2026 | $66.44 | $66.36 |
| 9 Oct 2026 | $79.64 | $64.53 |
| 16 Oct 2026 | $82.26 | $64.53 |
| 23 Oct 2026 | $85.97 | $64.53 |
| 30 Oct 2026 | $88.69 | $64.53 |
| 6 Nov 2026 | $88.60 | $64.53 |
| 12 Nov 2026 | $89.69 | $64.53 |
Data as of 12 Nov 2026; financials to 30 Sep 2026. Sources: company filings via EODHD, SEC EDGAR, US Treasury. How these values are computed. Not investment advice.
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