What is Crown Castle Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Crown Castle Inc.'s reported free cash flow gives $27.60 per share. The share price was $67.84 on September 25, 2026, 146% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -10.0% | 10.0% | $3.14 | -95% |
| Base | -5.0% | 9.0% | $27.60 | -59% |
| Bull | 0.0% | 8.0% | $73.20 | +8% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $43.87 | $48.66 | $54.51 | $61.83 | $71.23 |
| 8.0% | $31.87 | $34.97 | $38.64 | $43.04 | $48.43 |
| 9.0% | $23.02 | $25.15 | $27.60 | $30.45 | $33.83 |
| 10.0% | $16.23 | $17.74 | $19.45 | $21.41 | $23.67 |
| 11.0% | $10.85 | $11.95 | $13.19 | $14.58 | $16.16 |
Where the presets come from
Base: years 1 to 5 grow at Crown Castle Inc.'s revenue growth rate over the last 5 fiscal years (-6.1% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions