DCF Tool

CCI

Crown Castle Inc – Other Financial Vehicles
since 1994, crown castle has worked around the country to build and maintain the infrastructure behind the world’s most revolutionary technologies. this comprehensive portfolio of towers, small cells, and fiber gives people and communities access to essential data, technology and wireless service and opens the door to countless opportunities and possibilities. we continue to work closely with wireless carriers, businesses, technology companies, governments, and communities to make sure these transformative ideas and innovations find their way to the people who rely on them.
Analysis Results
Intrinsic Value $227.35
Latest Price $112.80
Relative Value 50% undervalued
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Cash Flow (Billions)
Analysis Parameters
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Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 15.8%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 7.1%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 15.8%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (billion) Present value (billion)
2024 3.34 3.12
2025 3.87 3.38
2026 4.49 3.66
2027 5.2 3.95
2028 6.02 4.28
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 121 billion. This corresponds to a present value of 80.3 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 18.4 billion. Adding in the terminal value gives a total present value of 98.7 billion.

There are presently 434.0 million outstanding shares, so the intrinsic value per share is 227.35.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,032,000,000
Current Cash 105,000,000
Current Liabilities 2,585,000,000
Current Debt 835,000,000
Non-Cash Working Capital (NCWC) -823,000,000
Change in NCWC 28,000,000
EBIT 2,488,000,000
Tax Provision 26,000,000
Depreciation and Amortization 1,754,000,000
Capital Expenditure -1,424,000,000
Unlevered Free Cash Flow 2,803,664,921
Current Assets 1,217,000,000
Current Cash 156,000,000
Current Liabilities 2,731,000,000
Current Debt 819,000,000
Non-Cash Working Capital (NCWC) -851,000,000
Change in NCWC 141,000,000
EBIT 2,461,000,000
Tax Provision 16,000,000
Depreciation and Amortization 1,707,000,000
Capital Expenditure -1,310,000,000
Unlevered Free Cash Flow 2,975,714,370
Current Assets 1,254,000,000
Current Cash 292,000,000
Current Liabilities 2,026,000,000
Current Debt 72,000,000
Non-Cash Working Capital (NCWC) -992,000,000
Change in NCWC -24,000,000
EBIT 2,023,000,000
Tax Provision 21,000,000
Depreciation and Amortization 1,644,000,000
Capital Expenditure -1,229,000,000
Unlevered Free Cash Flow 2,377,966,921
Current Assets 1,104,000,000
Current Cash 232,000,000
Current Liabilities 1,969,000,000
Current Debt 129,000,000
Non-Cash Working Capital (NCWC) -968,000,000
Change in NCWC -156,000,000
EBIT 1,585,000,000
Tax Provision 20,000,000
Depreciation and Amortization 1,608,000,000
Capital Expenditure -1,624,000,000
Unlevered Free Cash Flow 1,383,539,033
Current Assets 1,204,000,000
Current Cash 196,000,000
Current Liabilities 1,920,000,000
Current Debt 100,000,000
Non-Cash Working Capital (NCWC) -812,000,000
Change in NCWC -454,000,000
EBIT 1,591,000,000
Tax Provision 21,000,000
Depreciation and Amortization 1,572,000,000
Capital Expenditure -2,057,000,000
Unlevered Free Cash Flow 614,076,049
Current Assets 1,229,000,000
Current Cash 277,000,000
Current Liabilities 1,417,000,000
Current Debt 107,000,000
Non-Cash Working Capital (NCWC) -358,000,000
Change in NCWC -855,000
EBIT 1,485,000,000
Tax Provision 19,000,000
Depreciation and Amortization 1,528,000,000
Capital Expenditure -1,741,000,000
Unlevered Free Cash Flow 1,230,253,695
Current Assets 1,133,780,000
Current Cash 314,094,000
Current Liabilities 1,292,082,000
Current Debt 115,251,000
Non-Cash Working Capital (NCWC) -357,145,000
Change in NCWC -254,701,000
EBIT 1,122,798,000
Tax Provision 26,043,000
Depreciation and Amortization 1,242,408,000
Capital Expenditure -1,228,071,000
Unlevered Free Cash Flow 820,297,443
Current Assets 1,324,761,000
Current Cash 567,599,000
Current Liabilities 961,355,000
Current Debt 101,749,000
Non-Cash Working Capital (NCWC) -102,444,000
Change in NCWC -155,729,000
EBIT 1,001,122,000
Tax Provision 16,881,000
Depreciation and Amortization 1,108,551,000
Capital Expenditure -873,883,000
Unlevered Free Cash Flow 1,034,856,346
Current Assets 981,245,000
Current Cash 178,810,000
Current Liabilities 855,369,000
Current Debt 106,219,000
Non-Cash Working Capital (NCWC) 53,285,000
Change in NCWC 83,003,000
EBIT 995,326,000
Tax Provision -51,457,000
Depreciation and Amortization 1,036,178,000
Capital Expenditure -908,892,000
Unlevered Free Cash Flow 1,205,615,000
Current Assets 931,502,000
Current Cash 175,620,000
Current Liabilities 898,935,000
Current Debt 113,335,000
Non-Cash Working Capital (NCWC) -29,718,000
Change in NCWC -46,206,000
EBIT 1,043,658,000
Tax Provision -10,640,000
Depreciation and Amortization 1,013,064,000
Capital Expenditure -780,077,000
Unlevered Free Cash Flow 1,230,439,000
Current Assets 892,683,000
Current Cash 223,394,000
Current Liabilities 756,387,000
Current Debt 103,586,000
Non-Cash Working Capital (NCWC) 16,488,000
Change in NCWC -573,670,000
EBIT 962,671,000
Tax Provision 198,628,000
Depreciation and Amortization 774,215,000
Capital Expenditure -567,810,000
Unlevered Free Cash Flow -58,250,271
Current Assets 1,581,324,000
Current Cash 441,364,000
Current Liabilities 1,237,858,000
Current Debt 688,056,000
Non-Cash Working Capital (NCWC) 590,158,000
Change in NCWC 440,715,000
EBIT 868,527,000
Tax Provision -100,061,000
Depreciation and Amortization 622,592,000
Capital Expenditure -441,383,000
Unlevered Free Cash Flow 1,490,451,000

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