Crown Castle vs SBA Communications
Crown Castle reported revenue of $4.3 billion in fiscal 2025, 1.5 times SBA Communications' $2.8 billion in fiscal 2025. Crown Castle's revenue fell 4.4% in its latest year, and SBA Communications' grew 5.1%. Crown Castle had an operating margin of 48.7%, against 47.7% at SBA Communications.
Side by side
| Crown Castle | SBA Communications | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $4.3B | $2.8B |
| Revenue growth | −4.4% | 5.1% |
| Revenue growth a year, last 5 years | −6.1% | 6.2% |
| Gross margin | — | 75.5% |
| Operating margin | 48.7% | 47.7% |
| Net margin | 10.4% | 37.4% |
| Free cash flow | — | $1.1B |
| Free cash flow margin | — | 37.9% |
| Return on capital | 8.8% | 14.4% |
| Net debt to EBITDA | 8.8x | 7.7x |
| Dividends and buybacks | $2.1B | $977M |
| Change in diluted share count | 0.7% | −0.5% |
| Last close | $87.47 | $185.92 |
| P/E at the last close | 44.4× | 20.0× |
| Insider trades, last 12 months | bought $73,997, sold $1.0 million | sold $54,801 |
| Piotroski F-score | 5 of 8 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Crown CastleSBA Communications
Operating margin
Percent of revenue
Crown CastleSBA Communications
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Crown CastleSBA Communications
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Crown Castle and SBA Communications pages.