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American Tower Corporation (AMT) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
American Tower Corporation (AMT) stock price & volume — 10-year historical chart
American Tower Corporation (AMT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
American Tower Corporation (AMT) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $1.84vs $1.60+15.0% | $2.7Bvs $2.7B+3.1% |
| Q1 2026 | Feb 24, 2026 | $1.75vs $1.48+18.2% | $2.7Bvs $2.7B+1.9% |
| Q4 2025 | Oct 28, 2025 | $2.78vs $2.62+6.1% | $2.7Bvs $2.7B+0.9% |
| Q3 2025 | Jul 29, 2025 | $2.60vs $2.60+0.0% | $2.6Bvs $2.7B-1.2% |
American Tower Corporation (AMT) competitors in Digital Infrastructure REITs — business model, growth, and fundamentals comparison
American Tower Corporation (AMT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
American Tower Corporation (AMT) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6.66B | 7.44B | 7.58B | 8.04B | 9.36B | 9.65B | 10.01B | 10.13B | 10.65B | 10.82B |
| Revenue Growth % | 15.18% | 11.65% | 1.88% | 6.08% | 16.36% | 3.08% | 3.8% | 1.15% | 5.11% | 2.72% |
| Property Operating Expenses | 2.05B | 2.18B | 2.21B | 2.23B | 2.68B | 2.57B | 2.56B | 2.57B | 2.8B | 2.88B |
| Net Operating Income (NOI) | 4.61B▲ 0% | 5.26B▲ 14.1% | 5.37B▲ 2.0% | 5.81B▲ 8.3% | 6.67B▲ 14.8% | 7.08B▲ 6.0% | 7.45B▲ 5.3% | 7.55B▲ 1.4% | 7.84B▲ 3.9% | 7.94B▲ 0% |
| NOI Margin % | 69.18% | 70.73% | 70.79% | 72.3% | 71.34% | 73.36% | 74.42% | 74.58% | 73.68% | 73.37% |
| Operating Expenses | 2.61B | 3.36B | 2.68B | 2.93B | 3.54B | 4.34B | 4.33B | 3.04B | 2.96B | 3.15B |
| G&A Expenses | 639.9M | 733.2M | 733.2M | 778.7M | 811.6M | 902.1M | 946M | 933.4M | 944.2M | 943.2M |
| EBITDA | 3.71B | 4.02B | 4.47B | 4.77B | 5.46B | 6.09B | 6.21B | 6.64B | 6.94B | 6.87B |
| EBITDA Margin % | 55.74% | 53.98% | 58.93% | 59.31% | 58.4% | 63.18% | 62.04% | 65.58% | 65.21% | 63.51% |
| Depreciation & Amortization | 1.72B | 2.11B | 1.78B | 1.88B | 2.33B | 3.36B | 3.09B | 2.12B | 2.06B | 2.08B |
| D&A / Revenue % | 25.75% | 28.37% | 23.46% | 23.41% | 24.93% | 34.78% | 30.83% | 20.98% | 19.36% | 19.26% |
| Operating Income | 2B▲ 0% | 1.91B▼ 4.7% | 2.69B▲ 41.1% | 2.89B▲ 7.4% | 3.13B▲ 8.5% | 2.74B▼ 12.6% | 3.13B▲ 14.1% | 4.52B▲ 44.5% | 4.88B▲ 8.1% | 4.79B▲ 0% |
| Operating Margin % | 29.99% | 25.6% | 35.47% | 35.91% | 33.47% | 28.39% | 31.22% | 44.6% | 45.85% | 44.24% |
| Interest Expense | 750.8M | 825.6M | 814.2M | 793.5M | 870.9M | 1.14B | 1.39B | 1.4B | 1.02B | 3M |
| Interest Coverage | 2.67x | 2.40x | 3.35x | 3.30x | 4.25x | 2.84x | 2.10x | 3.58x | 3.99x | - |
| Non-Operating Income | -7.3M | -75.2M | -42.2M | 272.9M | -568.3M | -483.4M | 208M | -512.8M | 818.5M | 162.3M |
| Pretax Income | 1.26B▲ 0% | 1.15B▼ 8.1% | 1.92B▲ 66.0% | 1.82B▼ 5.0% | 2.83B▲ 55.4% | 2.09B▼ 26.3% | 1.53B▼ 26.7% | 3.62B▲ 137.0% | 3.04B▼ 16.0% | 3.39B▲ 0% |
| Pretax Margin % | 18.85% | 15.52% | 25.28% | 22.65% | 30.24% | 21.63% | 15.27% | 35.79% | 28.6% | 31.35% |
| Income Tax | 30.7M | -110.1M | -200K | 129.6M | 261.8M | 112.8M | 90.8M | 366.3M | 415.7M | 424.9M |
| Effective Tax Rate % | 2.44% | -9.54% | -0.01% | 7.12% | 9.25% | 5.41% | 5.94% | 10.11% | 13.66% | 12.53% |
| Net Income | 1.24B▲ 0% | 1.24B▼ 0.2% | 1.89B▲ 52.7% | 1.69B▼ 10.4% | 2.57B▲ 51.9% | 1.77B▼ 31.2% | 1.48B▼ 16.0% | 2.25B▲ 52.0% | 2.53B▲ 12.2% | 2.88B▲ 0% |
| Net Margin % | 18.59% | 16.62% | 24.9% | 21.02% | 27.44% | 18.31% | 14.81% | 22.27% | 23.76% | 26.6% |
| Net Income Growth % | 29.53% | -0.2% | 52.69% | -10.45% | 51.88% | -31.23% | -16% | 52.03% | 12.19% | 57.58% |
| Funds From Operations (FFO) | 2.95B▲ 0% | 3.35B▲ 13.3% | 3.67B▲ 9.5% | 3.57B▼ 2.5% | 4.9B▲ 37.2% | 5.12B▲ 4.5% | 4.57B▼ 10.8% | 4.38B▼ 4.2% | 4.59B▲ 4.8% | 4.96B▲ 0% |
| FFO Margin % | 44.34% | 44.99% | 48.36% | 44.43% | 52.37% | 53.09% | 45.64% | 43.25% | 43.12% | 45.86% |
| FFO Growth % | 19.05% | 13.28% | 9.53% | -2.54% | 37.15% | 4.5% | -10.76% | -4.16% | 4.81% | 568.59% |
| FFO per Share | 6.84 | 7.56 | 8.23 | 8.01 | 10.81 | 11.07 | 9.78 | 9.36 | 9.78 | 10.63 |
| FFO Payout Ratio % | 36.31% | 39.54% | 43.72% | 53.97% | 46.34% | 51.37% | 64.54% | 70.21% | 68.78% | 48.14% |
| EPS (Diluted) | 2.67▲ 0% | 2.79▲ 4.5% | 4.24▲ 52.0% | 3.79▼ 10.6% | 5.66▲ 49.3% | 3.82▼ 32.5% | 3.18▼ 16.8% | 4.82▲ 51.6% | 5.39▲ 11.8% | 6.16▲ 0% |
| EPS Growth % | 34.85% | 4.49% | 51.97% | -10.61% | 49.34% | -32.51% | -16.75% | 51.57% | 11.83% | 59.13% |
| EPS (Basic) | 2.69 | 2.81 | 4.27 | 3.81 | 5.69 | 3.83 | 3.18 | 4.83 | 5.40 | - |
| Diluted Shares Outstanding | 431.69M | 442.96M | 445.52M | 446.1M | 453.29M | 462.75M | 467.16M | 468.12M | 469.14M | 466.83M |
American Tower Corporation (AMT) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 33.21B | 33.01B | 42.8B | 47.23B | 69.89B | 67.19B | 66.03B | 61.08B | 63.19B | 63.19B |
| Asset Growth % | 7.56% | -0.61% | 29.66% | 10.35% | 47.96% | -3.85% | -1.74% | -7.5% | 3.46% | 3.83% |
| Real Estate & Other Assets | 950.1M | 962.6M | 406.4M | 400.1M | 400.9M | 3.56B | 5.26B | 4.28B | 4.96B | 13.16B |
| PP&E (Net) | 11.1B | 11.25B | 19.44B | 20.6B | 29.01B | 28.92B | 19.79B | 27.15B | 28.78B | 20.36B |
| Investment Securities | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
| Total Current Assets | 2.04B | 2.39B | 2.55B | 2.91B | 3.73B | 3.62B | 3.71B | 3.18B | 2.49B | 2.74B |
| Cash & Equivalents | 802.1M | 1.21B | 1.5B | 1.75B | 1.95B | 2.03B | 1.75B | 2B | 1.47B | 1.47B |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 224.6M | 174.4M | 134.2M | 194.7M | 474M | 228.2M | 989.7M | 234.6M | 369.7M | 130.4M |
| Intangible Assets | 11.78B | 11.17B | 12.32B | 13.84B | 20.73B | 17.98B | 16.52B | 14.47B | 14.53B | 14.53B |
| Total Liabilities | 25.26B | 26.11B | 36.21B | 42.45B | 60.82B | 54.79B | 55.16B | 51.43B | 52.84B | 52.84B |
| Total Debt | 20.21B | 21.16B | 31.06B | 36.71B | 52.01B | 47.05B | 46.31B | 43.95B | 44.96B | 45.13B |
| Net Debt | 19.4B | 19.95B | 29.56B | 34.97B | 50.06B | 45.02B | 44.55B | 41.95B | 43.49B | 43.66B |
| Long-Term Debt | 19.43B | 18.41B | 21.13B | 28.5B | 38.69B | 34.16B | 35.73B | 32.81B | 33.8B | 33.83B |
| Short-Term Borrowings | 774.8M | 2.75B | 2.93B | 789.8M | 4.57B | 4.51B | 3.07B | 3.69B | 3.97B | 3.39B |
| Capital Lease Obligations | 0 | 0 | 7B | 7.42B | 8.75B | 8.38B | 7.51B | 7.45B | 7.19B | 30.44B |
| Total Current Liabilities | 2.51B | 4.69B | 5.49B | 3.66B | 9.07B | 8.31B | 7.25B | 7.08B | 3.97B | 6.91B |
| Accounts Payable | 142.9M | 130.8M | 148.1M | 139.1M | 272.4M | 218.6M | 251.3M | 240.8M | 0 | 259.8M |
| Deferred Revenue | 268.8M | 304.1M | 294.3M | 390.6M | 1.2B | 439.7M | 433.8M | 329.2M | 325M | 325M |
| Other Liabilities | 1.91B | 1.97B | 1.8B | 1.98B | 2.65B | 2.74B | 3.58B | 2.89B | 6.11B | 3.49B |
| Total Equity | 7.95B▲ 0% | 6.9B▼ 13.2% | 6.59B▼ 4.6% | 4.78B▼ 27.4% | 9.07B▲ 89.7% | 12.41B▲ 36.8% | 10.87B▼ 12.4% | 9.65B▼ 11.2% | 10.36B▲ 7.3% | 10.36B▲ 0% |
| Equity Growth % | -1.4% | -13.2% | -4.6% | -27.42% | 89.72% | 36.81% | -12.44% | -11.2% | 7.32% | 17.69% |
| Shareholders Equity | 6.24B | 5.34B | 5.06B | 4.09B | 5.08B | 5.57B | 4.2B | 3.38B | 3.65B | 3.65B |
| Minority Interest | 1.71B | 1.57B | 1.53B | 687M | 3.99B | 6.84B | 6.67B | 6.27B | 6.7B | 6.7B |
| Common Stock | 4.4M | 4.5M | 4.5M | 4.6M | 4.7M | 4.8M | 4.8M | 4.8M | 4.8M | 4.8M |
| Additional Paid-in Capital | 10.25B | 10.38B | 10.12B | 10.47B | 12.24B | 14.69B | 14.87B | 15.06B | 15.22B | 15.22B |
| Retained Earnings | -1.06B | -1.2B | -1.02B | -1.34B | -1.14B | -2.1B | -3.64B | -4.42B | -5.09B | -5.09B |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | 3.87% | 3.73% | 4.98% | 3.76% | 4.38% | 2.58% | 2.23% | 3.55% | 4.07% | 4.53% |
| Return on Equity (ROE) | 15.47% | 16.64% | 27.99% | 29.74% | 37.08% | 16.44% | 12.75% | 21.98% | 25.29% | 27.44% |
| Debt / Assets | 60.83% | 64.1% | 72.57% | 77.72% | 74.42% | 70.02% | 70.13% | 71.96% | 71.16% | 71.42% |
| Debt / Equity | 2.54x | 3.06x | 4.72x | 7.68x | 5.73x | 3.79x | 4.26x | 4.56x | 4.34x | 4.34x |
| Net Debt / EBITDA | 5.22x | 4.97x | 6.62x | 7.33x | 9.16x | 7.39x | 7.17x | 6.32x | 6.27x | 6.27x |
| Book Value per Share | 18.43 | 15.59 | 14.78 | 10.72 | 20.01 | 26.81 | 23.26 | 20.61 | 22.07 | 22.18 |
American Tower Corporation (AMT) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 2.93B | 3.75B | 3.75B | 3.88B | 4.82B | 3.7B | 4.72B | 5.29B | 5.46B | 5.46B |
| Operating CF Growth % | 8.21% | 28.12% | 0.11% | 3.43% | 24.18% | -23.31% | 27.76% | 12.03% | 3.28% | 22.31% |
| Operating CF / Revenue % | 43.9% | 50.38% | 49.5% | 48.27% | 51.51% | 38.32% | 47.17% | 52.24% | 51.33% | 50.5% |
| Net Income | 1.23B | 1.26B | 1.92B | 1.69B | 2.57B | 1.7B | 1.37B | 2.28B | 2.63B | 2.88B |
| Depreciation & Amortization | 1.72B | 2.11B | 1.8B | 1.88B | 2.33B | 3.36B | 3.09B | 2.12B | 2.04B | 2.07B |
| Stock-Based Compensation | 108.5M | 137.5M | 111.4M | 120.8M | 119.5M | 169.3M | 195.7M | 203.6M | 174.2M | 179.2M |
| Other Non-Cash Items | 314.6M | 552.3M | 234.3M | 632.9M | -260.7M | 331M | 1.07B | 1.02B | 786.3M | 691M |
| Working Capital Changes | -352.2M | -14M | -250.4M | -423.6M | 102.1M | -1.62B | -813.9M | -386.5M | -166.6M | -357.3M |
| Cash from Investing | -2.8B | -2.75B | -3.99B | -4.78B | -20.69B | -2.36B | -1.7B | 410.6M | -1.71B | -1.87B |
| Acquisitions (Net) | -2.01B | -1.88B | -2.96B | -3.8B | -19.3B | -549M | -168M | 2.04B | -306.1M | -215.3M |
| Purchase of Investments | 0 | -1.15B | -355.9M | 0 | -25M | 0 | 0 | 0 | 0 | 0 |
| Sale of Investments | 14.7M | 1.25B | 383.5M | 19.6M | 14.3M | 19.6M | 17.3M | 253.2M | 0 | 0 |
| Other Investing | -5M | -52.8M | -64.2M | 26.6M | -900K | 47.8M | 253.3M | -288.4M | 274.8M | 141.2M |
| Cash from Financing | -113M | -607.7M | 521.7M | 1.22B | 16.42B | -1.42B | -3.1B | -5.45B | -4.36B | -4.31B |
| Dividends Paid | -1.16B | -1.34B | -1.6B | -1.93B | -2.27B | -2.63B | -2.95B | -3.07B | -3.16B | -2.39B |
| Common Dividends | -1.07B | -1.32B | -1.6B | -1.93B | -2.27B | -2.63B | -2.95B | -3.07B | -3.16B | -2.39B |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | -1000K | -1000K | -1000K | -2M |
| Share Repurchases | -766.3M | -232.8M | -19.6M | -56M | 0 | -18.8M | 0 | 0 | -364.6M | -540.8M |
| Other Financing | 344M | 507.4M | -536.1M | -952.4M | 2.55B | 3.05B | -186.9M | -504.6M | -504.3M | -1.25B |
| Net Change in Cash | 18.4M▲ 0% | 350M▲ 1802.2% | 273.1M▼ 22.0% | 283.4M▲ 3.8% | 481.9M▲ 70.0% | -202.6M▼ 142.0% | -47.3M▲ 76.7% | 14.8M▲ 131.3% | -503M▼ 3498.6% | -501.3M▲ 0% |
| Exchange Rate Effect | 6.7M | -41.1M | -13.7M | -28.7M | -70.3M | -120.4M | 23.2M | -233.9M | 101.3M | 108.2M |
| Cash at Beginning | 936.5M | 954.9M | 1.3B | 1.58B | 1.86B | 2.34B | 2.14B | 2.09B | 2.11B | 1.61B |
| Cash at End | 954.9M | 1.3B | 1.58B | 1.86B | 2.34B | 2.14B | 2.09B | 2.11B | 1.61B | 1.74B |
| Free Cash Flow | 2.12B▲ 0% | 2.84B▲ 33.6% | 2.76B▼ 2.6% | 2.85B▲ 3.2% | 3.44B▲ 20.8% | 1.82B▼ 47.1% | 2.92B▲ 60.4% | 3.7B▲ 26.5% | 3.78B▲ 2.2% | 3.77B▲ 0% |
| FCF Growth % | 4.99% | 33.61% | -2.6% | 3.2% | 20.83% | -47.07% | 60.45% | 26.54% | 2.25% | -0.18% |
| FCF / Revenue % | 31.84% | 38.11% | 36.43% | 35.44% | 36.8% | 18.9% | 29.21% | 36.54% | 35.54% | 34.85% |
American Tower Corporation (AMT) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| FFO per Share | 6.84 | 7.56 | 8.23 | 8.01 | 10.81 | 11.07 | 9.78 | 9.36 | 9.78 | 10.63 |
| FFO Payout Ratio | 36.31% | 39.54% | 43.72% | 53.97% | 46.34% | 51.37% | 64.54% | 70.21% | 68.78% | 48.14% |
| NOI Margin | 69.18% | 70.73% | 70.79% | 72.3% | 71.34% | 73.36% | 74.42% | 74.58% | 73.68% | 73.37% |
| Net Debt / EBITDA | 5.22x | 4.97x | 6.62x | 7.33x | 9.16x | 7.39x | 7.17x | 6.32x | 6.27x | 6.27x |
| Debt / Assets | 60.83% | 64.1% | 72.57% | 77.72% | 74.42% | 70.02% | 70.13% | 71.96% | 71.16% | 71.42% |
| Interest Coverage | 2.67x | 2.40x | 3.35x | 3.30x | 4.25x | 2.84x | 2.10x | 3.58x | 3.99x | - |
| Book Value / Share | 18.43 | 15.59 | 14.78 | 10.72 | 20.01 | 26.81 | 23.26 | 20.61 | 22.07 | 22.18 |
| Revenue Growth | 15.18% | 11.65% | 1.88% | 6.08% | 16.36% | 3.08% | 3.8% | 1.15% | 5.11% | 2.72% |
American Tower Corporation (AMT) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 28, 2026·SEC
Mar 10, 2026·SEC
Mar 5, 2026·SEC
American Tower Corporation (AMT) stock FAQ — growth, dividends, profitability & financials explained
American Tower Corporation (AMT) reported $10.82B in revenue for fiscal year 2025. This represents a 61698% increase from $17.5M in 1997.
American Tower Corporation (AMT) grew revenue by 5.1% over the past year. This is steady growth.
Yes, American Tower Corporation (AMT) is profitable, generating $2.88B in net income for fiscal year 2025 (23.8% net margin).
Yes, American Tower Corporation (AMT) pays a dividend with a yield of 3.78%. This makes it attractive for income-focused investors.
American Tower Corporation (AMT) has a return on equity (ROE) of 25.3%. This is excellent, indicating efficient use of shareholder capital.
American Tower Corporation (AMT) generated Funds From Operations (FFO) of $4.96B in the trailing twelve months. FFO is the primary profitability metric for REITs.
American Tower Corporation (AMT) offers a 3.78% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.
American Tower Corporation (AMT) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates