Crown Castle owns and leases roughly 40,000 cell towers in the United States. It also owns more than 90,000 route miles of fiber. It leases space on its towers to wireless service providers, which install equipment on the towers to support their wireless networks. Crown Castle’s towers and fiber are predominantly in the largest US cities. The company has a very concentrated customer base, with about 75% of its revenue from the Big Three US mobile carriers. Crown Castle operates as a real estate investment trust. It has announced plans to divest its fiber business, which should be finalized in 2026. After that, Crown will be a stand-alone tower operator.
Gross margin measures the amount of revenue that remains after subtracting costs directly associated with production.
The EBITDA margin is a measure of a company's operating profit desconsidering D&A costs as a percentage of its revenue.
The Normalized EBITDA margin is a measure of a company's operating profit without unusual items desconsidering D&A costs as a percentage of its revenue.
Many companies have a high D&A in relation to the company's operating profit (EBITDA) and although this indicator does not have an effective cash effect, it ends up influencing the accounting net income, so analyzing this relationship can help to understand when D&A has a relevant impact to the company's results.
Many companies have a high D&A in relation to the company's normalized operating profit (Normalized EBITDA) without unusual items and although this indicator does not have an effective cash effect, it ends up influencing the accounting net income, so analyzing this relationship can help to understand when D&A has a relevant impact to the company's results.
It demonstrates the percentage cost of Stock-Based Compensation compared to the REIT's FFO. In some companies, the FFO is positive because of the SBC, which can lead to an incorrect cash flow analysis.
Compares Stock-Based Compensation spend with Enterprise Value, which adjusts the company's market value to a multiple closer to its true value, also considering debt and cash on hand. your calculation.
If the company has a lot of D&A, it helps to see if most of it tends to come from fixed assets. The account can include machinery, equipment, vehicles, buildings, land, office equipment, and furnishings, among other things.
If the company has a lot of D&A, it helps to see if most of it tends to come from intangible assets. The account can include rights or economic benefits, such as patents and goodwill, that is not physical in nature.
If the company has a lot of D&A, it helps to see if most of it tends to come from Goodwill, that is an intangible asset that accounts for the excess purchase price of another company.
Return on equity (ROE) is the measure of a company's net income divided by its shareholders' equity and is a gauge of a corporation's profitability and how efficiently it generates those profits.
Return on assets is a metric that indicates a company's profitability in relation to its total assets and can be used by management, analysts, and investors to determine whether a company uses its assets efficiently to generate a profit.
Return on invested capital (ROIC) is a calculation used to assess a company's efficiency in allocating capital to profitable investments. The formula for calculating ROIC in Morningstar involves dividing Net Income by the average of invested capital.
Normalized Return on invested capital (ROIC) is a calculation used to assess a company's efficiency in allocating capital to profitable investments. The formula for calculating Normalized ROIC in Morningstar involves dividing Normalized Net Income without unusual items by the average of invested capital.
...and much more!