Crown Castle Inc. stock research
FY2025 Q3
Crown Castle (CCI) Gross Margin — Quarter Ended Sep 30, 2025
Revenue grew while cost of revenue rose at a slower pace, leading to higher gross profit and a slightly improved gross margin. Compared to the same quarter a year earlier, gross margin was stable as gross profit and revenue increased proportionally.
Gross margin takeaway
Quarter ended Sep 30, 2025 · FY2025 Q3
Revenue grew while cost of revenue rose at a slower pace, leading to higher gross profit and a slightly improved gross margin. Compared to the same quarter a year earlier, gross margin was stable as gross profit and revenue increased proportionally.
- The most observable driver of gross margin was the relationship between revenue and cost of revenue. Revenue growth outpaced cost growth versus the prior quarter, contributing to the margin improvement.
- Gross margin improved compared to the immediately preceding quarter as revenue grew faster than cost of revenue. Gross margin was unchanged compared to the same quarter one year earlier, reflecting the same proportional growth in both revenue and cost of revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
50.0%
Gross profit
$30.0M
Revenue
$60.0M
Cost of revenue
$30.0M
Quarter-over-quarter change
+1.9 pts
Year-over-year change
0.0 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Dec 31, 2024 | $49.0M | $23.0M | $26.0M | 46.9% |
| Mar 31, 2025 | $50.0M | $22.0M | $28.0M | 44.0% |
| Jun 30, 2025 | $52.0M | $25.0M | $27.0M | 48.1% |
| Sep 30, 2025 | $60.0M | $30.0M | $30.0M | 50.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2025
+1.9 pts
Year-over-year change
Sep 30, 2024
0.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most observable driver of gross margin was the relationship between revenue and cost of revenue. Revenue growth outpaced cost growth versus the prior quarter, contributing to the margin improvement.
Gross margin improved compared to the immediately preceding quarter as revenue grew faster than cost of revenue. Gross margin was unchanged compared to the same quarter one year earlier, reflecting the same proportional growth in both revenue and cost of revenue.
Monitor the trend in cost of revenue relative to revenue, as a shift in their growth rates could affect gross margin stability.