Sign in

AMERICAN TOWER CORP /MA/

AMT· NYSE· Real Estate Investment Trusts

Market cap
–
P/FCF
–
EV/Sales
–
FCF margin
404.3%
ROIC, 5 yr avg
–
Revenue, 5 yr CAGR
+13.6%
We record prices for the companies we cover; AMT is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Profile · FY2025

Market cap
–
Enterprise value
–
Diluted shares
468.8M
Revenue
$935.9M
Free cash flow
$3.8B
Owner earnings
$3.6B

Valuation · FY2025

P/E
–
P/FCF
–
P/Owner earnings
–
EV/Sales
–
EV/FCF
–
P/B
–

Margins · FY2025

Gross
–
Operating
517.8%
Net
–
Free cash flow
404.3%
Owner earnings
385.7%
Stock pay
18.6%

Returns

ROIC, FY2025
–
ROIC, 5 yr avg
–
ROE, FY2025
–
ROE, 5 yr avg
–

Growth (CAGR)

Revenue, 3 yr
3.6%
Revenue, 5 yr
13.6%
Revenue, 9 yr
-18.3%
Diluted EPS, 3 yr
12.2%
Diluted EPS, 5 yr
7.3%
Diluted EPS, 9 yr
11.8%
Free cash flow, 3 yr
27.6%
Free cash flow, 5 yr
5.8%
Free cash flow, 9 yr
7.2%

Financial health · FY2025

Cash and investments
$1.5B
Total debt
–
Net cash
–
Debt/Equity
–
Debt/FCF
–

Shareholder returns · FY2025

Dividend yield
–
Payout ratio
–
Buyback yield
–
Shareholder yield
–
Share count, 5 yr
1.0%

Financials: ten years from the 10-Ks

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

Revenue

$935.9M

-18.3% a year over 9 years

FY2016: Revenue $5.8BFY2017: Revenue $6.7BFY2018: Revenue $491.3MFY2019: Revenue $527.2MFY2020: Revenue $495.7MFY2021: Revenue $717.2MFY2022: Revenue $840.7MFY2023: Revenue $747.3MFY2024: Revenue $774.6MFY2025: Revenue $935.9M
FY2016FY2025

Margins

Operating517.8%Net–

FY2025

FY2016: Operating 32.0%, Net 16.5%FY2017: Operating 30.0%, Net 18.6%FY2018: Operating 387.7%, Net 251.7%FY2019: Operating 509.9%, Net 358.1%FY2020: Operating 582.5%, Net 341.1%FY2021: Operating 436.7%, Net –FY2022: Operating 325.8%, Net –FY2023: Operating 418.2%, Net –FY2024: Operating 583.1%, Net –FY2025: Operating 517.8%, Net –
FY2016FY2025

Free cash flow and owner earnings

Free cash flow$3.8BOwner earnings$3.6B

Free cash flow +7.2% a year

FY2016: Free cash flow $2.0B, Owner earnings $1.9BFY2017: Free cash flow $2.1B, Owner earnings $2.0BFY2018: Free cash flow $2.8B, Owner earnings $2.7BFY2019: Free cash flow $2.8B, Owner earnings $2.6BFY2020: Free cash flow $2.8B, Owner earnings $2.7BFY2021: Free cash flow $3.4B, Owner earnings $3.3BFY2022: Free cash flow $1.8B, Owner earnings $1.7BFY2023: Free cash flow $2.9B, Owner earnings $2.7BFY2024: Free cash flow $3.7B, Owner earnings $3.5BFY2025: Free cash flow $3.8B, Owner earnings $3.6B
FY2016FY2025

Diluted shares

468.8M

+9.2% over 9 years, net dilution

FY2016: Diluted shares 429.3MFY2017: Diluted shares 431.7MFY2018: Diluted shares 443.0MFY2019: Diluted shares 445.5MFY2020: Diluted shares 446.1MFY2021: Diluted shares 453.3MFY2022: Diluted shares 462.8MFY2023: Diluted shares 467.2MFY2024: Diluted shares 468.1MFY2025: Diluted shares 468.8M
FY2016FY2025

Return on invested capital

–

FY2025

FY2016: ROIC 6.5%FY2017: ROIC 7.6%FY2018: ROIC –FY2019: ROIC –FY2020: ROIC –FY2021: ROIC 6.1%FY2022: ROIC 6.0%FY2023: ROIC –FY2024: ROIC –FY2025: ROIC –
FY2016FY2025

Net debt (below zero)

–

$37.4B more debt than cash

FY2016: Net cash -$17.7BFY2017: Net cash -$19.4BFY2018: Net cash -$20.0BFY2019: Net cash $1.5BFY2020: Net cash –FY2021: Net cash -$41.5BFY2022: Net cash -$37.4BFY2023: Net cash –FY2024: Net cash –FY2025: Net cash –
FY2016FY2025

Every figure, year by year

Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
The business
Revenue$5.8B$6.7B$491.3M$527.2M$495.7M$717.2M$840.7M$747.3M$774.6M$935.9M
Revenue growth21.3%15.2%-92.6%7.3%-6.0%44.7%17.2%-11.1%3.7%20.8%
Gross margin––––––––––
Operating margin32.0%30.0%387.7%509.9%582.5%436.7%325.8%418.2%583.1%517.8%
Net income$956.4M$1.2B$1.2B$1.9B$1.7B–––––
Net margin16.5%18.6%251.7%358.1%341.1%–––––
Diluted EPS$1.98$2.67$2.77$4.24$3.79$5.66$3.82$3.18$4.82$5.40
Return on invested capital?6.5%7.6%–––6.1%6.0%–––
Cash
Operating cash flow$2.7B$2.9B$3.7B$3.8B$3.9B$4.8B$3.7B$4.7B$5.3B$5.5B
Capital expenditure$682.5M$803.6M$913.2M$991.3M$1.0B$1.4B$1.9B$1.8B$1.6B$1.7B
Free cash flow$2.0B$2.1B$2.8B$2.8B$2.8B$3.4B$1.8B$2.9B$3.7B$3.8B
Stock-based compensation$89.9M$108.5M$137.5M$111.4M$120.8M$119.5M$169.3M$195.7M$203.6M$174.2M
Owner earnings?$1.9B$2.0B$2.7B$2.6B$2.7B$3.3B$1.7B$2.7B$3.5B$3.6B
Free cash flow per share$4.70$4.92$6.40$6.20$6.39$7.60$3.94$6.26$7.91$8.07
Capital allocation
Dividends paid$886.1M$1.1B$1.3B$1.6B$1.9B$2.3B$2.7B$3.0B$3.0B$3.2B
Share repurchases$0$766.3M$232.8M$19.6M$56.0M$0$18.8M$0$0$364.6M
Diluted shares429.3M431.7M443.0M445.5M446.1M453.3M462.8M467.2M468.1M468.8M
Share count change?1.5%0.6%2.6%0.6%0.1%1.6%2.1%1.0%0.2%0.1%
Balance sheet
Cash and equivalents$787.2M$802.1M$1.2B$1.5B$1.7B$1.9B$1.5B$1.8B$2.0B$1.5B
Short-term investments$4.0M$1.0M$0–––––––
Total debt$18.5B$20.2B$21.2B$1.9M–$43.5B$38.9B–––
Net debt$17.7B$19.4B$20.0B-$1.5B–$41.5B$37.4B–––
Shareholders' equity$6.8B$6.2B$5.3B$5.1B$4.1B$5.1B$5.6B$4.2B$3.4B$3.7B

Latest filings

All on EDGAR
2026-10-2710-QQuarterly report
2026-10-278-KEarnings release
2026-07-2810-QQuarterly report
2026-07-288-KEarnings release
2026-04-2810-QQuarterly report
2026-04-288-KEarnings release
2026-04-08DEF 14AProxy statement
2026-02-2410-KAnnual report
2026-02-248-KEarnings release
2025-10-2810-QQuarterly report

More from our coverage

All coverage