AMT · American Tower Corp /Ma/

$177.13 +1.33 (+0.76%)

Market Cap

$81.90B

465.89M

Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.

Revenue

$10.64B +5.1%

FY2025

Net Income

$2.63B +15.3%

FY2025

Gross Margin

99.43% +0.1pp

FY2019

Operating Margin

45.52% +0.9pp

FY2025

Diluted EPS

$5.40 +12%

FY2025

Operating Cash Flow

$5.46B +3.3%

FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Income Statement Balance Sheet Cash Flow Adjusted All Metrics

Annual Quarterly

Line Item	3Y	5Y	10Y	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007
Revenue	+3.3%	+5.8%	+8.4%	$10.82B	$10.64B	$10.13B	$10.01B	$9.65B	$9.36B	$8.04B	$7.58B	$7.44B	$6.66B	$5.79B	$4.77B	$4.1B	$3.36B	$2.88B	$2.44B	$1.99B	$1.72B	$1.59B	$1.46B
Rental Income	+3.3%	+5.2%	+7.6%	$9.89B	$9.71B	$9.35B	$9.26B	$8.8B	$8.64B	$7.55B	$7.05B	$6.95B	$6.57B	$5.71B	$4.68B	$4.01B	$3.29B	$2.8B	$2.39B	$1.94B	$1.67B	$1.55B	$1.43B
Cost of Revenue	—	—	—	$40.6M	—	—	—	—	—	—	$43.1M	$49.1M	$34.6M	—	—	—	—	—	—	—	—	—	—
Gross Profit	—	—	—	$7.72B	—	—	—	—	—	—	$7.54B	$7.39B	$6.63B	—	—	—	—	—	—	—	—	—	—
Gross Margin	—	—	—	—	—	—	—	—	—	—	99.43%	99.34%	99.48%	—	—	—	—	—	—	—	—	—	—
Rental Operating Expenses	+1.5%	+3.3%	+7.3%	$2.64B	$2.57B	$2.48B	$2.5B	$2.46B	$2.59B	$2.19B	$2.17B	$2.13B	$2.02B	$1.76B	$1.28B	$1.06B	$828.74M	$686.68M	$590.27M	$447.63M	$383.99M	$363.02M	$343.45M
Selling, General & Administrative	+1.4%	+3.9%	+6.6%	$960.6M	$940.7M	$933.4M	$946M	$902.1M	$811.6M	$778.7M	$730.4M	$733.2M	$637M	$543.4M	$497.8M	$446.54M	$415.55M	$327.3M	$288.82M	$229.77M	$201.69M	$180.37M	$186.48M
Amortization of Intangibles	-18.1%	-0.5%	+4.5%	$882M	$879.7M	$892M	$1.4B	$1.6B	$1.2B	$900M	$791.3M	$1.14B	$785.9M	$699.8M	$568.3M	$411.7M	$282.5M	$207.3M	$176.4M	$156.1M	—	—	—
Depreciation & Amortization	-13.6%	+1.6%	+4.7%	$2.07B	$2.04B	$2.03B	$2.93B	$3.16B	$2.33B	$1.88B	$1.78B	$2.11B	$1.72B	$1.53B	$1.29B	$1B	$800.15M	$644.28M	$555.52M	$460.73M	$414.62M	$405.33M	$522.93M
Total Costs & Expenses	-5.7%	+2.4%	+6.3%	$5.99B	$5.8B	$5.61B	$6.89B	$6.91B	$6.22B	$5.15B	$4.89B	$5.54B	$4.67B	$3.93B	$3.16B	$2.61B	$2.15B	$1.76B	$1.52B	$1.2B	$1.05B	$986.75M	$1.08B
Operating Income	+21.0%	+10.9%	+11.6%	$4.83B	$4.85B	$4.52B	$3.13B	$2.74B	$3.13B	$2.89B	$2.69B	$1.91B	$2B	$1.85B	$1.61B	$1.49B	$1.21B	$1.12B	$920.13M	$784.38M	$672.26M	$606.75M	$378.36M
Operating Margin	—	—	—	—	45.52%	44.6%	31.22%	28.39%	33.47%	35.91%	35.47%	25.6%	29.99%	32.03%	33.8%	36.27%	36.12%	38.93%	37.66%	39.51%	38.99%	38.08%	25.98%
EBITDA	+5.3%	+7.6%	+9.0%	$6.9B	$6.89B	$6.55B	$6.05B	$5.9B	$5.46B	$4.77B	$4.47B	$4.02B	$3.71B	$3.38B	$2.9B	$2.49B	$2.01B	$1.76B	$1.48B	$1.25B	$1.09B	$1.01B	$901.29M
Interest Expense	+6.2%	+11.4%	—	$1.38B	$1.36B	$1.4B	$1.4B	$1.14B	$870.9M	$793.5M	$814.2M	$825.5M	$749.6M	—	—	$580.23M	$458.3M	$401.67M	$311.85M	$246.02M	$249.8M	$253.58M	$235.82M
Interest Income	+64.6%	-6.7%	—	$7.14M	—	—	—	—	—	—	—	—	—	—	—	—	—	$7.68M	$7.38M	$5.02M	$1.72M	$3.41M	$10.85M
Other Non-Operating Income	—	—	—	-$1.39B	-$1.8B	-$891.7M	-$1.6B	-$652.6M	-$302.6M	-$1.07B	-$772M	-$750.4M	-$742.3M	-$727.1M	-$782.8M	-$621.22M	-$672.56M	-$418.43M	-$413.24M	-$228.35M	-$250.77M	-$234.83M	-$225.52M
Equity in Earnings of Unconsolidated Entities	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	$0	$0	$35K	$25K	$40K	$26K	$22K	$19K
Pretax Income	+13.4%	+10.8%	+13.9%	$3.44B	$3.04B	$3.62B	$1.53B	$2.09B	$2.83B	$1.82B	$1.92B	$1.15B	$1.26B	$1.13B	$830M	$865.7M	$541.75M	$701.29M	$506.9M	$556.03M	$421.49M	$371.92M	$152.84M
Income Tax	+54.5%	+26.3%	+10.2%	$436.4M	$415.7M	$366.3M	$90.8M	$112.8M	$261.8M	$129.6M	-$200K	-$110.1M	$30.7M	$155.5M	$158M	$62.51M	$59.54M	$107.3M	$125.08M	$182.49M	$182.57M	$135.51M	$59.81M
Net Income	+15.7%	+9.2%	+14.4%	$3.01B	$2.63B	$2.28B	$1.37B	$1.7B	$2.57B	$1.69B	$1.89B	$1.24B	$1.24B	$956.4M	$685.1M	$824.91M	$551.33M	$637.28M	$396.46M	$372.94M	$246.6M	$347.25M	$56.32M
Net Margin	—	—	—	—	24.69%	22.52%	13.65%	17.59%	27.44%	21.02%	24.9%	16.62%	18.59%	16.53%	14.36%	20.12%	16.4%	22.16%	16.22%	18.78%	14.3%	21.79%	3.87%
Net Income Attributable to Noncontrolling Interests	—	+156.0%	—	$108.1M	$99M	$25.2M	-$116.2M	-$69.1M	-$100K	$900K	$28.8M	$28.3M	-$13.5M	$14M	-$13.1M	-$21.71M	-$69.13M	-$43.26M	-$14.62M	$670K	$532K	$169K	$338K
Net Income Available to Common Stockholders	+12.7%	+8.4%	+15.6%	$2.9B	$2.53B	$2.26B	$1.48B	$1.77B	$2.57B	$1.69B	$1.89B	$1.23B	$1.15B	$849.3M	$594.9M	$801.02M	$551.33M	$637.28M	—	—	—	—	—
Comprehensive Income	+67.1%	+37.2%	—	$3.61B	$3.67B	$2.04B	$1.46B	$786.4M	$1.59B	$754.8M	$1.71B	$571.8M	$1.26B	$785M	-$357.7M	$341.91M	$423.46M	$596.55M	$215.79M	$423.64M	$253.98M	—	—
EPS (Basic) USD/shares	+12.2%	+7.3%	+14.3%	—	$5.41	$4.83	$3.18	$3.83	$5.69	$3.81	$4.27	$2.79	$2.69	$2.00	$1.42	$2.02	$1.40	$1.61	$1.00	$0.93	$0.62	$0.88	$0.14
EPS (Diluted) USD/shares	+12.2%	+7.3%	+14.4%	—	$5.40	$4.82	$3.18	$3.82	$5.66	$3.79	$4.24	$2.77	$2.67	$1.98	$1.41	$2.00	$1.38	$1.60	$0.99	$0.92	$0.61	$0.84	$0.13
Shares Outstanding (Basic Avg) shares	+0.5%	+1.1%	+1.1%	—	467.92M	467.01M	466.06M	461.52M	451.5M	443.64M	442.32M	439.61M	428.18M	425.14M	418.91M	395.96M	395.04M	394.77M	395.71M	401.15M	398.38M	395.95M	413.17M
Shares Outstanding (Diluted Avg) shares	+0.4%	+1.0%	+1.0%	—	468.76M	468.12M	467.16M	462.75M	453.29M	446.1M	445.52M	442.96M	431.69M	429.28M	423.02M	400.09M	399.15M	399.29M	400.2M	404.07M	406.95M	418.36M	426.08M

Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2007–FY2025: $5.1B in buybacks, $21.42B in dividends.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue

10.87×

Peer median 11.06×

EV/EBIT

24.35×

Peer median 25.38×

P/E (TTM)

28.35×

Peer median 36.46×

P/FFO (FY2025)

19.68×

Peer median 22.49×

P/AFFO (TTM)

16.25×

Peer median 17.35×

Peer medians compare against the 8 similar-size REIT - Specialty companies (of 19 listed).

P/FFO and P/AFFO use the company-stated “Nareit FFO attributable to AMT common stockholders” and “AFFO Attributable to Common Stockholders”, extracted from the reconciliation in its SEC filings — the company's own non-GAAP definition, not an XBRL-tagged figure.

Valuation over time computed as of each quarter's filing date

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Property US and Canada	$5,588,300,000	$5,441,800,000	$5,359,200,000	$5,247,400,000	$5,167,500,000	$4,604,900,000	$4,304,100,000	—
Property Latin America	$1,642,600,000	$1,717,900,000	$1,798,300,000	$1,691,900,000	$1,465,400,000	$1,257,400,000	$1,340,700,000	—
Property Africa APAC	$1,422,900,000	$1,208,000,000	$1,244,400,000	$1,203,800,000	—	—	—	—
Property Data Centers	$1,053,100,000	$924,800,000	$834,700,000	$766,600,000	$23,200,000	$8,500,000	$6,100,000	—
Property Europe	$937,700,000	$834,700,000	$775,600,000	$735,700,000	$496,200,000	$149,600,000	$134,600,000	—
Africa Property Segment	—	—	—	—	—	$890,200,000	$583,900,000	$545,500,000
Asia Pacific Property Segment	—	—	—	—	—	$1,139,400,000	$1,217,000,000	$1,540,500,000
Europe Property Segment	—	—	—	—	—	$149,600,000	$134,600,000	$141,800,000
Latin America Property Segment	—	—	—	—	—	$1,257,400,000	$1,340,700,000	$1,264,800,000
Network Development Services	—	—	—	$241,100,000	$247,300,000	$87,900,000	$115,400,000	$125,400,000
Property Africa	—	—	$1,225,600,000	$1,192,500,000	$1,005,500,000	$890,200,000	$583,900,000	—
Property Asia Pacific	—	$1,208,000,000	$1,244,400,000	$1,203,800,000	$1,199,100,000	$1,139,400,000	$1,217,000,000	—
Property	—	$9,933,500,000	$9,869,200,000	$9,404,300,000	$9,109,600,000	$7,953,600,000	$7,464,900,000	$7,314,700,000
Services Segment	—	$193,700,000	$143,000,000	$241,100,000	$247,300,000	—	—	—
United States and Canada Property Segment	—	—	—	—	—	$4,604,900,000	$4,304,100,000	$3,822,100,000

By Geography (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
United States	$6,629,400,000	$6,353,300,000	$6,182,200,000	$6,001,500,000	$5,179,300,000	$9,209,200,000	$4,304,100,000	$3,947,500,000
Brazil	$708,300,000	$786,100,000	$787,300,000	$741,900,000	$614,600,000	$1,012,800,000	$605,500,000	$595,500,000
Mexico	$508,900,000	$544,900,000	$611,800,000	$588,900,000	$524,600,000	$966,000,000	$515,300,000	$456,500,000
Nigeria	$461,700,000	$384,400,000	$990,800,000	$954,400,000	$296,500,000	$499,000,000	$229,900,000	$220,700,000
Germany	$455,500,000	$402,200,000	$363,600,000	$320,000,000	$213,500,000	$140,000,000	$66,600,000	$69,100,000
Spain	$351,900,000	$310,800,000	$298,000,000	$315,100,000	$183,300,000	$0	—	—
Uganda	$297,900,000	$269,100,000	$474,400,000	$399,400,000	$180,800,000	$312,200,000	$73,300,000	$67,100,000
Ghana	$182,800,000	$126,700,000	$257,200,000	$288,800,000	$170,500,000	$348,600,000	$124,300,000	$125,400,000
Kenya	$177,600,000	$141,100,000	$240,000,000	$246,200,000	$107,400,000	$195,400,000	$27,300,000	$7,000,000
South Africa	$172,600,000	$174,000,000	$315,800,000	$329,600,000	$164,000,000	$257,400,000	$129,100,000	$125,300,000
France	$130,300,000	$121,700,000	$113,400,000	$99,600,000	$98,900,000	$158,800,000	$68,000,000	$72,700,000
Colombia	$122,200,000	$110,400,000	$117,000,000	$106,100,000	$107,700,000	$192,200,000	$102,100,000	$103,800,000
Chile	$117,400,000	$103,700,000	$106,300,000	$91,800,000	$88,000,000	$134,600,000	$43,300,000	$44,200,000
Peru	$98,900,000	$95,000,000	$91,100,000	$84,700,000	$62,600,000	$93,200,000	$23,500,000	$20,000,000
Burkina Faso	$56,500,000	$40,100,000	$76,200,000	$82,400,000	$44,700,000	$87,800,000	$0	$0
Niger	$52,400,000	$51,300,000	$96,800,000	$84,200,000	$41,600,000	$80,000,000	$0	$0
Argentina	$43,600,000	$36,200,000	$43,800,000	$39,200,000	$31,600,000	$44,200,000	$17,300,000	$16,000,000
Costa Rica	$25,700,000	$25,300,000	$24,700,000	$23,900,000	$22,800,000	$46,800,000	$21,100,000	$18,400,000
Paraguay	$17,600,000	$16,300,000	$16,300,000	$15,400,000	$13,500,000	$25,000,000	$12,600,000	$10,400,000
Canada	$12,000,000	$13,300,000	$11,700,000	$12,500,000	$11,400,000	$600,000	—	—
Bangladesh	$11,000,000	$7,900,000	$11,400,000	$7,800,000	$400,000	$0	—	—
Philippines	$10,400,000	$9,200,000	$17,800,000	$10,600,000	$300,000	$0	—	—
Australia	$0	$2,600,000	$5,200,000	$3,600,000	$1,800,000	$0	—	—
New Zealand	$0	$1,600,000	$3,200,000	$600,000	$0	$0	—	—
Poland	$0	$0	$600,000	$1,000,000	$500,000	$400,000	—	—
International	—	—	—	—	—	—	$3,276,200,000	$3,492,600,000
India	—	—	$1,132,000,000	$1,065,700,000	$1,196,600,000	$2,278,800,000	$1,217,000,000	$1,540,500,000
Africa	—	—	—	—	—	—	$583,900,000	$545,500,000
Asia	—	—	—	—	—	—	$1,217,000,000	$1,540,500,000
Europe	—	—	—	—	—	—	$134,600,000	$141,800,000
Latin America	—	—	—	—	—	—	$1,340,700,000	$1,264,800,000

By Product & Service (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Property Revenue	$10,305,000,000	$9,933,500,000	$9,869,200,000	$9,404,300,000	$9,109,600,000	$7,953,600,000	$7,464,900,000	$7,314,700,000
Non Lease Property Revenue	$596,300,000	$580,900,000	$604,300,000	$599,600,000	$469,900,000	$407,800,000	$411,800,000	—
Services Revenue	$339,600,000	$193,700,000	$143,000,000	$241,100,000	$247,300,000	$87,900,000	$115,400,000	$125,400,000
Service	$339,600,000	$193,700,000	$143,000,000	$241,100,000	$247,300,000	$87,900,000	$115,400,000	—

Segment Operating Income

Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Property US and Canada	$4,212,100,000	$4,216,100,000	$4,201,200,000	$3,977,700,000	$3,889,800,000	$3,546,800,000	$3,205,300,000
Property Latin America	$1,029,000,000	$1,076,700,000	$1,124,400,000	$1,057,600,000	$903,000,000	$771,800,000	$828,400,000
Property Africa APAC	$900,300,000	$759,500,000	$718,700,000	—	—	—	—
Property Data Centers	$562,200,000	$455,200,000	$414,700,000	$380,700,000	$8,200,000	—	—
Property Europe	$523,900,000	$460,500,000	$410,500,000	$363,700,000	$260,100,000	$98,500,000	$83,600,000
Services Segment	$138,200,000	$80,100,000	$60,000,000	$111,400,000	$134,400,000	—	—
Network Development Services	—	—	—	$111,400,000	$134,400,000	$36,600,000	$61,300,000
Property Africa	—	—	$713,000,000	$667,400,000	$587,100,000	$498,100,000	$321,200,000
Property Asia Pacific	—	$759,500,000	$718,700,000	$669,200,000	$401,700,000	$380,600,000	$401,200,000

Operating Margin by Segment (%)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Property US and Canada	75.4%	77.5%	78.4%	75.8%	75.3%	77%	74.5%
Property Latin America	62.6%	62.7%	62.5%	62.5%	61.6%	61.4%	61.8%
Property Africa APAC	63.3%	62.9%	57.8%	—	—	—	—
Property Data Centers	53.4%	49.2%	49.7%	49.7%	35.3%	—	—
Property Europe	55.9%	55.2%	52.9%	49.4%	52.4%	65.8%	62.1%
Network Development Services	—	—	—	46.2%	54.3%	41.6%	53.1%
Property Africa	—	—	58.2%	56%	58.4%	56%	55%
Property Asia Pacific	—	62.9%	57.8%	55.6%	33.5%	33.4%	33%
Services Segment	—	41.4%	42%	46.2%	54.3%	—	—

Key facts CIK 1053507 CUSIP 03027X100 13F (30d) 1333 filings 1263 filers Visit website Investor relations