Last 48 quarters of trend data · Real Estate · REIT - Specialty
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
American Tower Corporation's quarterly P/E stands at 23.4x, down 55.2% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 10.3% YoY to 18.5x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 33.05 | 23.45 | 25.08 | 26.42 | 70.84 | 52.31 | 17.50 | — | 25.31 | 25.20 | 299.83 | 32.63 | 47.53 |
| — | -55.2% | +43.3% | — | +179.9% | +107.5% | -94.2% | — | -46.8% | -64.5% | — | +9.4% | +45.1% | |
| P/S Ratio | 7.80 | 7.36 | 7.52 | 8.30 | 9.86 | 9.95 | 8.43 | 10.79 | 7.84 | 8.15 | 9.05 | 7.62 | 8.17 |
| — | -26.0% | -10.8% | -23.1% | +25.8% | +22.0% | -6.9% | +41.7% | -4.1% | -5.4% | -0.9% | -18.8% | -25.6% | |
| P/B Ratio | 8.07 | 7.78 | 7.95 | 8.38 | 9.89 | 10.26 | 8.90 | 10.68 | 8.72 | 8.67 | 9.29 | 6.84 | 7.54 |
| — | -24.2% | -10.7% | -21.6% | +13.3% | +18.4% | -4.1% | +56.2% | +15.7% | +11.3% | +16.6% | -15.9% | -31.2% | |
| P/FCF | 21.93 | 21.18 | 24.27 | 22.67 | 26.51 | 26.44 | 28.43 | 26.06 | 22.43 | 26.05 | 40.87 | 21.11 | 28.71 |
| — | -19.9% | -14.6% | -13.0% | +18.2% | +1.5% | -30.4% | +23.5% | -21.9% | -33.5% | -12.9% | -60.1% | -46.7% | |
| EV / EBITDA | 18.22 | 18.52 | 18.56 | 18.60 | 21.48 | 20.64 | 20.22 | 22.93 | 18.39 | 19.30 | 24.54 | 18.13 | 20.71 |
| — | -10.3% | -8.2% | -18.9% | +16.8% | +7.0% | -17.6% | +26.5% | -11.2% | -13.8% | -31.3% | -22.3% | -19.2% | |
| EV / EBIT | 25.91 | 26.76 | 23.93 | 35.06 | 30.63 | 38.25 | 19.65 | 41.75 | 24.36 | 24.66 | 94.24 | 25.73 | 41.24 |
| — | -30.0% | +21.8% | -16.0% | +25.7% | +55.1% | -79.1% | +62.3% | -40.9% | -50.3% | — | -18.3% | +17.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
American Tower Corporation's operating margin was 42.4% in Q1 2026, up 0.0 pp QoQ and down 6.5 pp YoY. The trailing four-quarter average of 44.3% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 73.7% | 73.9% | 70.7% | 75.1% | 73.8% | 75.2% | 74.3% | 74.2% | 71.7% | 72.2% | 70.9% | 74.7% | 70.2% |
| — | -1.8% | -4.9% | +1.3% | +3.0% | +4.2% | +4.8% | -0.7% | +2.2% | +1.9% | +0.9% | +8.7% | +1.3% | |
| Operating Margin | 45.8% | 42.4% | 42.4% | 46.7% | 45.6% | 48.9% | 42.4% | 45.2% | 44.3% | 43.6% | 25.7% | 36.2% | 31.5% |
| — | -13.4% | -0.0% | +3.3% | +3.0% | +12.2% | +64.8% | +24.7% | +40.5% | +55.7% | +262.4% | +48.2% | +7.8% | |
| Net Margin | 23.8% | 30.6% | 30.0% | 31.4% | 14.0% | 19.1% | 48.3% | -31.4% | 31.0% | 32.4% | 3.0% | 23.3% | 17.2% |
| — | +60.3% | -37.9% | +200.0% | -55.0% | -41.1% | +1484.2% | -234.9% | +80.9% | +166.7% | +112.1% | -25.9% | -48.9% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 25.3% | 8.1% | 7.8% | 8.0% | 3.6% | 5.0% | 12.4% | -7.7% | 8.5% | 8.5% | 0.8% | 5.1% | 3.9% |
| — | +61.9% | -37.3% | +204.5% | -57.9% | -41.4% | +1513.2% | -252.2% | +117.7% | +212.9% | +113.9% | -30.7% | -56.4% | |
| ROA | 4.1% | 1.3% | 1.3% | 1.3% | 0.6% | 0.8% | 2.0% | -1.2% | 1.4% | 1.4% | 0.1% | 0.9% | 0.7% |
| — | +66.8% | -34.9% | +208.5% | -57.1% | -42.6% | +1439.9% | -239.1% | +90.9% | +175.9% | +112.6% | -29.0% | -45.4% | |
| ROIC | 6.9% | 1.6% | 1.6% | 1.8% | 1.7% | 1.8% | 1.6% | 1.6% | 1.7% | 1.7% | 1.0% | 1.2% | 1.1% |
| — | -10.9% | +4.2% | +12.0% | -1.8% | +8.9% | +60.7% | +30.5% | +51.1% | +64.1% | +283.2% | +42.2% | +14.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
American Tower Corporation's Debt/EBITDA ratio is 26.9x — elevated, raising questions about debt serviceability. The current ratio has weakened 28.5% YoY to 0.40x, tightening the short-term liquidity position. Debt/Equity has risen for 3 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.34 | 4.36 | 4.34 | 4.18 | 4.31 | 4.47 | 4.56 | 4.39 | 4.55 | 4.49 | 4.26 | 4.17 | 3.93 |
| — | -2.4% | -4.7% | -4.8% | -5.1% | -0.5% | +6.9% | +5.4% | +15.7% | +17.2% | +12.4% | +10.0% | -14.8% | |
| Debt / EBITDA | 6.48 | 26.92 | 26.52 | 25.13 | 26.47 | 25.41 | 27.80 | 27.11 | 25.67 | 26.79 | 31.25 | 27.93 | 28.80 |
| — | +5.9% | -4.6% | -7.3% | +3.1% | -5.1% | -11.0% | -3.0% | -10.9% | -10.4% | -33.1% | -7.1% | -6.4% | |
| Current Ratio | 0.63 | 0.40 | 0.63 | 0.59 | 0.61 | 0.55 | 0.45 | 0.48 | 0.60 | 0.63 | 0.51 | 0.56 | 0.53 |
| — | -28.5% | +39.8% | +22.7% | +2.8% | -12.0% | -12.2% | -14.2% | +12.4% | +37.5% | +17.4% | -1.3% | +6.5% | |
| Quick Ratio | 0.63 | 0.40 | 0.63 | 0.59 | 0.61 | 0.55 | 0.45 | 0.48 | 0.60 | 0.63 | 0.51 | 0.56 | 0.53 |
| — | -28.5% | +39.8% | +22.7% | +2.8% | -12.0% | -12.2% | -14.2% | +12.4% | +37.5% | +17.4% | -1.3% | +6.5% | |
| Interest Coverage | 3.99 | 3.37 | 3.76 | — | 3.50 | 2.90 | 5.07 | 2.54 | 3.81 | 3.81 | 1.10 | 3.31 | 2.36 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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American Tower Corporation's current P/E is 33.0x. The average P/E over the last 4 quarters is 36.4x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
American Tower Corporation's current operating margin is 45.8%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking American Tower Corporation's business trajectory between earnings reports.