Crown Castle Inc. (CCI) vs Essex Property Trust, Inc. (ESS)
A side-by-side comparison of Crown Castle Inc. and Essex Property Trust, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.
Total return — CCI vs ESS
growth of $100 · dividends reinvested · last 10yCCI vs ESS: by the numbers
- •CCI is the larger company ($31.70B vs $17.65B market cap).
- •CCI converts more revenue to profit (25.83% vs 21.63% net margin).
- •ESS grew revenue faster over the past five years (6.01% vs -7.20% CAGR).
- •CCI pays the higher dividend yield (5.62% vs 3.78%).
Metrics side by side
Valuation
| Metric | CCI | ESS |
|---|---|---|
| P/E ratio | 29.49 | 42.70 |
| Forward P/E | 37.62 | 48.59 |
| P/S ratio | 7.62 | 9.16 |
| P/B ratio | N/A | 3.31 |
| EV / EBITDA | 20.27 | 20.72 |
| FCF yield | 7.59% | 5.68% |
For REITs like Crown Castle Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like Essex Property Trust, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | CCI | ESS |
|---|---|---|
| Gross margin | 63.19% | 69.38% |
| Operating margin | 47.74% | 43.88% |
| Net margin | 25.83% | 21.63% |
| ROE | N/A | 7.83% |
| ROIC | 9.63% | 4.34% |
Dividends
| Metric | CCI | ESS |
|---|---|---|
| Dividend yield | 5.62% | 3.78% |
| Payout ratio | 172.76% | 160.50% |
Crown Castle Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Essex Property Trust, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | CCI | ESS |
|---|---|---|
| Revenue CAGR (5Y) | -7.20% | 6.01% |
| EPS CAGR (5Y) | -15.45% | 3.68% |
| FCF CAGR (5Y) | 7.90% | 8.10% |
| Total return CAGR (5Y) | -12.59% | 0.30% |
Frequently asked
- Which has grown faster, CCI or ESS?
- Over the past five years, ESS grew revenue faster — CCI at a -7.20% CAGR versus ESS at 6.01%.
- Does CCI or ESS pay a bigger dividend?
- CCI yields 5.62% and ESS yields 3.78% based on trailing dividends and the latest price.
- Is CCI or ESS more profitable?
- CCI runs the higher net margin — CCI at 25.83% versus ESS at 21.63%.
- How have CCI and ESS total returns compared?
- Over the past 10 years, CCI delivered 2.11% and ESS delivered 5.62% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Crown Castle & Essex Property Trust appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.