American Tower owns and operates about 150,000 wireless towers throughout the US, Asia, Latin America, Europe, and Africa. It also owns and/or operates 30 data centers in 11 US markets through its CoreSite segment.
It is a $84.5B real estate company. Revenue grew 14.2% over the last year, it keeps 31¢ of every dollar of sales as profit, and its net debt equals ~8.2 years of free cash flow. It trades at 25.0× earnings — near the lowest of its own history.
- Website
- americantower.com
- Location
- Boston, MA
- Employees
- 4 866
- Sector
- Real Estate
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong profitability, quality and moat; Growth and Health lag behind.
Valuation61
- P/E vs own history6th pct · 25/25
- FCF yield4.7% · 12/25
- P/S7.8x · 12/25
- EV/EBITDA17.3x · 12/25
Growth23
- Revenue CAGR3.3% · 6/25
- Net income CAGR-0.4% · 0/25
- EPS CAGR ~5Y7.3% · 12/25
- Fwd implied growth1.1% · 5/25
Profitability80
- ROIC7.0% · 5/25
- ROE91.6% · 25/25
- Net margin31.1% · 25/25
- Operating margin44.8% · 25/25
Health13
- Altman Z0.09 · 3/25
- Current ratio0.35 · 0/25
- Interest coverage2.5x · 10/25
- Net cash / debtD/A 51% · 0/25
Quality85
- Piotroski F5/9 · 15/25
- Beneish M-2.81 · 25/25
- FCF conversion120% · 25/25
- Margin stabilityσ 7.0% · 20/25
Moat75
- ROIC >12% years0/10 yrs · 0/25
- Median gross margin99.2% · 25/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 13.3% · 25/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2022FinancialRevenue crossed $10B$10.7B for the year
- FY2021FinancialBest year on record$2.57B net income
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $1B$5.79B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (73.8%)
- Strongly profitable — 31.1% net margin
- Revenue growing 14.2% year over year
- Strong cash conversion — FCF is 36.2% of revenue
Watch-outs
- Altman Z-Score 0.09 — elevated financial-distress risk
- Net debt would take ~10.6 years of free cash flow to repay
- Net debt equals ~8.2 years of free cash flow
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+14.2% YoY
- Profitable — makes more than it spends$3.40B TTM
- Profit growing — earnings are higher than last year+12.2% YoY
- Generates cash — cash left after running and investing$3.96B TTM
- Debt under control — could handle its obligations~8.2y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$84.5B market cap
- Not printing shares — share count not ballooning — you keep your slice+5.1% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 0.1 — distress
- Pays a dividend — returns cash to shareholdersyield 3.81%
- Valuation not extreme — price not wildly above earningsP/E 25.0
Peer comparisonAmerican Tower Corporation vs 6 largest real estate peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| AMT this company | $84.5B | 25.0 | +14.2% | 31.1% | Strained |
| WELL Welltower Inc. | $162.5B | 108.1 | +37.6% | 12.1% | Strained |
| PLD Prologis, Inc. | $123.1B | 29.8 | +7.3% | 45.8% | Strained |
| EQIX Equinix, Inc. | $101.2B | 66.0 | +9.6% | 15.6% | Strained |
| DLR Digital Realty Trust, Inc. | $66.6B | 83.0 | +17.4% | 11.8% | Strained |
| SPG Simon Property Group, Inc. | $64.7B | 14.0 | +15.0% | 66.5% | Strained |
| PSA Public Storage | $54.1B | 26.5 | +3.0% | 41.8% | Strained |
Head-to-head: AMT vs WELL · AMT vs PLD · AMT vs EQIX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/AMT
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of AMT on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $181.25 · market cap $84.5B.