American Tower

Real Estate Telecom Tower REITs Boston, Massachusetts Last filing Feb 24, 2026 · FY2025

                    Revenue
                    FY2025
                
$10.6B
                    3y CAGR +3.3%
                    
                    P17
                    
                    n/a
                    
                    Net income
                    FY2025
                
$2.6B
                    Net margin +24.7%
                    
                    P60
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$63.2B
                    ROA +4.2%
                    
                    P68
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$5.5B
                    FCF margin +35.5%
                    
                    P53
                    
                    n/a

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

32 accounts · 1 year

Total assets $63.2B

Total liabilities $52.8B

Shareholders equity $3.7B

Account	2025	Trend
Assets
Cash and Cash Equivalents	13.9%
Accounts Receivable	6.1%
Prepaid Expenses	4.6%
Other Current Assets	0.8%
Total Current Assets	25.8%
Property,Plant and Equipment	191.2%
Operating Lease Assets	79.2%
Goodwill	115.1%
Intangible Assets	136.5%
Deferred Tax Assets	1.4%
Other Noncurrent Assets	8.2%
Total Assets	593.6%
Liabilities
Accounts Payable	2.4%
Accrued Liabilities	10.5%
Deferred Revenue	3.1%
Current Portion of Long Term Debt	31.8%
Operating Lease Liabilities	5.5%
Other Current Liabilities	2.6%
Total Current Liabilities	65.0%
Operating Lease Liabilities Noncurrent	67.3%
Deferred Tax Liabilities	13.5%
Other Noncurrent Liabilities	9.2%
Total Liabilities	496.4%
Equity
Preferred Stock	0.0%
Common Stock	0.0%
Additional Paid In Capital	142.9%
Retained Earnings	-47.8%
Treasury Stock	15.6%
Accumulated Other Comprehensive Income	-45.2%
Noncontrolling Interest	63.0%
Total Stockholders Equity	34.3%
Total Liabilitiesand Equity	593.6%

Income Statement

Revenue, expense, and profitability

19 accounts · 1 year

Revenue $10.6B

Operating income $4.8B

Net income $2.6B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	100.0%
Expenses Cost of Revenue	54.5%
Expenses Selling,General and Administrative	8.8%
Expenses Depreciation and Amortization	8.3%
Expenses Share Based Compensation	1.6%
Expenses Restructuring and Asset Impairment	0.8%
Expenses Operating Expenses	54.5%
Other Income Expense Operating Income	45.5%
Other Income Expense Interest Income	1.3%
Other Income Expense Interest Expense	0.5%
Other Income Expense Other Income/expense	-5.4%
Other Income Expense Income Before Tax	28.6%
Income Tax Income Tax Expense	3.9%
net Income net Income	24.7%
net Income Comprehensive Income	34.5%
Earnings Per Share Basic Eps	0.0%
Earnings Per Share Diluted Eps	0.0%
Earnings Per Share Weighted Average Shares Basic	4.4%
Earnings Per Share Weighted Average Shares Diluted	4.4%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 1 year

Operating cash flow $5.5B

Investing cash flow $-1.9B

Financing cash flow $-4.2B

Account	2025	Trend
CashFlow
Operating Activities net Income	24.7%
Operating Activities Depreciation and Amortization	19.2%
Operating Activities Stock Based Compensation	1.6%
Operating Activities Changes In Operating Assets and Liabilities	0.3%
Operating Activities net Cash From Operating Activities	51.3%
Investing Activities Capital Expenditures	15.8%
Investing Activities Business Acquisitions	4.3%
Investing Activities Other Investing Activities	0.2%
Investing Activities net Cash From Investing Activities	-17.5%
Financing Activities Proceeds From Debt	28.2%
Financing Activities Repurchase of Common Stock	3.4%
Financing Activities Dividends Paid	29.9%
Financing Activities Proceeds From Stock Issuance	0.3%
Financing Activities Tax Withholding On Stock Based Compensation	0.0%
Financing Activities Other Financing Activities	-2.2%
Financing Activities net Cash From Financing Activities	-39.5%
Cash Reconciliation Effect of Exchange Rate On Cash	1.0%
Cash Reconciliation net Change In Cash	-4.7%
Cash Reconciliation Cash At Beginning of Period	15.1%
Cash Reconciliation Cash At End of Period	15.1%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+45.5%
Operating margin	+45.5%
Net margin	+24.7%
FCF margin	+35.5%
Growth
Revenue CAGR (3y)	+3.3%
Returns
ROE	+72.0%
ROA	+4.2%
ROIC	+75.2%
Liquidity
Current ratio	0.40x
Quick ratio	0.31x
Leverage
D/E	14.47x
Interest coverage	89.57x
Efficiency
Asset turnover	0.17x
Cash conversion cycle	—

Valuation

Price against fundamentals

AMT $195 · 2025-09-29 · 351d old · FY2025

Market cap $91.2B

P/E 34.70x

P/S 8.57x

P/B 24.97x

EV $93.1B

EV/EBITDA 16.26x

FCF yield +4.1%

Dividend yield +3.5%

Notes

Your annotations

Not watched