AMERICAN TOWER CORP (AMT) Fundamental Analysis & Valuation
NYSE:AMT • US03027X1000
Current stock price
176.54 USD
+2.81 (+1.62%)
Last:
This AMT fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
1. AMT Profitability Analysis
1.1 Basic Checks
- In the past year AMT was profitable.
- AMT had a positive operating cash flow in the past year.
- AMT had positive earnings in each of the past 5 years.
- Each year in the past 5 years AMT had a positive operating cash flow.
1.2 Ratios
- Looking at the Return On Assets, with a value of 4.00%, AMT is in the better half of the industry, outperforming 67.86% of the companies in the same industry.
- AMT's Return On Equity of 69.25% is amongst the best of the industry. AMT outperforms 100.00% of its industry peers.
- The Return On Invested Capital of AMT (7.59%) is better than 85.71% of its industry peers.
- AMT had an Average Return On Invested Capital over the past 3 years of 6.81%. This is in line with the industry average of 5.10%.
- The last Return On Invested Capital (7.59%) for AMT is above the 3 year average (6.81%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4% | ||
| ROE | 69.25% | ||
| ROIC | 7.59% |
ROA(3y)3.31%
ROA(5y)3.25%
ROE(3y)57.09%
ROE(5y)50.7%
ROIC(3y)6.81%
ROIC(5y)6.01%
1.3 Margins
- AMT has a Profit Margin of 23.76%. This is comparable to the rest of the industry: AMT outperforms 57.14% of its industry peers.
- AMT's Profit Margin has improved in the last couple of years.
- Looking at the Operating Margin, with a value of 45.52%, AMT is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
- AMT's Operating Margin has improved in the last couple of years.
- AMT's Gross Margin of 74.18% is fine compared to the rest of the industry. AMT outperforms 75.00% of its industry peers.
- In the last couple of years the Gross Margin of AMT has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 45.52% | ||
| PM (TTM) | 23.76% | ||
| GM | 74.18% |
OM growth 3Y13.38%
OM growth 5Y2.97%
PM growth 3Y9.08%
PM growth 5Y2.48%
GM growth 3Y0.37%
GM growth 5Y0.51%
2. AMT Health Analysis
2.1 Basic Checks
- AMT has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
- The number of shares outstanding for AMT remains at a similar level compared to 1 year ago.
- Compared to 5 years ago, AMT has more shares outstanding
- AMT has a better debt/assets ratio than last year.
2.2 Solvency
- AMT has an Altman-Z score of 1.05. This is a bad value and indicates that AMT is not financially healthy and even has some risk of bankruptcy.
- With a Altman-Z score value of 1.05, AMT perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
- AMT has a debt to FCF ratio of 9.84. This is a negative value and a sign of low solvency as AMT would need 9.84 years to pay back of all of its debts.
- AMT has a Debt to FCF ratio of 9.84. This is in the better half of the industry: AMT outperforms 75.00% of its industry peers.
- AMT has a Debt/Equity ratio of 9.26. This is a high value indicating a heavy dependency on external financing.
- AMT's Debt to Equity ratio of 9.26 is on the low side compared to the rest of the industry. AMT is outperformed by 78.57% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 9.26 | ||
| Debt/FCF | 9.84 | ||
| Altman-Z | 1.05 |
ROIC/WACC0.98
WACC7.78%
2.3 Liquidity
- A Current Ratio of 0.40 indicates that AMT may have some problems paying its short term obligations.
- AMT has a Current ratio of 0.40. This is in the lower half of the industry: AMT underperforms 67.86% of its industry peers.
- AMT has a Quick Ratio of 0.40. This is a bad value and indicates that AMT is not financially healthy enough and could expect problems in meeting its short term obligations.
- AMT has a Quick ratio of 0.40. This is in the lower half of the industry: AMT underperforms 67.86% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.4 | ||
| Quick Ratio | 0.4 |
3. AMT Growth Analysis
3.1 Past
- AMT shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -27.06%.
- The Earnings Per Share has been growing slightly by 7.30% on average over the past years.
- Looking at the last year, AMT shows a small growth in Revenue. The Revenue has grown by 5.11% in the last year.
- Measured over the past years, AMT shows a small growth in Revenue. The Revenue has been growing by 5.77% on average per year.
EPS 1Y (TTM)-27.06%
EPS 3Y11.97%
EPS 5Y7.3%
EPS Q2Q%-33.21%
Revenue 1Y (TTM)5.11%
Revenue growth 3Y3.34%
Revenue growth 5Y5.77%
Sales Q2Q%7.45%
3.2 Future
- Based on estimates for the next years, AMT will show a quite strong growth in Earnings Per Share. The EPS will grow by 10.62% on average per year.
- The Revenue is expected to grow by 4.75% on average over the next years.
EPS Next Y25.06%
EPS Next 2Y15.15%
EPS Next 3Y13.5%
EPS Next 5Y10.62%
Revenue Next Year1.88%
Revenue Next 2Y2.65%
Revenue Next 3Y3.77%
Revenue Next 5Y4.75%
3.3 Evolution
- The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
- The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. AMT Valuation Analysis
4.1 Price/Earnings Ratio
- The Price/Earnings ratio is 32.75, which means the current valuation is very expensive for AMT.
- Compared to the rest of the industry, the Price/Earnings ratio of AMT is on the same level as its industry peers.
- AMT is valuated rather expensively when we compare the Price/Earnings ratio to 26.17, which is the current average of the S&P500 Index.
- AMT is valuated quite expensively with a Price/Forward Earnings ratio of 26.19.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of AMT indicates a somewhat cheap valuation: AMT is cheaper than 64.29% of the companies listed in the same industry.
- Compared to an average S&P500 Price/Forward Earnings ratio of 23.05, AMT is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.75 | ||
| Fwd PE | 26.19 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, AMT is valued a bit cheaper than the industry average as 64.29% of the companies are valued more expensively.
- 71.43% of the companies in the same industry are more expensive than AMT, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 21.75 | ||
| EV/EBITDA | 16.95 |
4.3 Compensation for Growth
- The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
- The excellent profitability rating of AMT may justify a higher PE ratio.
- A more expensive valuation may be justified as AMT's earnings are expected to grow with 13.50% in the coming years.
PEG (NY)1.31
PEG (5Y)4.49
EPS Next 2Y15.15%
EPS Next 3Y13.5%
5. AMT Dividend Analysis
5.1 Amount
- AMT has a Yearly Dividend Yield of 4.06%, which is a nice return.
- AMT's Dividend Yield is slightly below the industry average, which is at 4.65.
- AMT's Dividend Yield is rather good when compared to the S&P500 average which is at 1.89.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.06% |
5.2 History
- On average, the dividend of AMT grows each year by 9.20%, which is quite nice.
- AMT has paid a dividend for at least 10 years, which is a reliable track record.
- The dividend of AMT decreased in the last 3 years.
Dividend Growth(5Y)9.2%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
- AMT pays out 124.82% of its income as dividend. This is not a sustainable payout ratio.
- AMT's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP124.82%
EPS Next 2Y15.15%
EPS Next 3Y13.5%
AMT Fundamentals: All Metrics, Ratios and Statistics
NYSE:AMT (4/6/2026, 3:06:04 PM)
176.54
+2.81 (+1.62%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)02-24 2026-02-24/bmo
Earnings (Next)04-28 2026-04-28
Inst Owners95.98%
Inst Owner Change0%
Ins Owners0.07%
Ins Owner Change4.56%
Market Cap82.28B
Revenue(TTM)10.64B
Net Income(TTM)2.53B
Analysts77.86
Price Target220.37 (24.83%)
Short Float %1.41%
Short Ratio1.96
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.06% |
Yearly Dividend6.75
Dividend Growth(5Y)9.2%
DP124.82%
Div Incr Years2
Div Non Decr Years2
Ex-Date04-14 2026-04-14 (1.79)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)13.36%
Min EPS beat(2)9.56%
Max EPS beat(2)17.16%
EPS beat(4)2
Avg EPS beat(4)-15.71%
Min EPS beat(4)-53.6%
Max EPS beat(4)17.16%
EPS beat(8)5
Avg EPS beat(8)-3.5%
EPS beat(12)6
Avg EPS beat(12)-11.79%
EPS beat(16)9
Avg EPS beat(16)-11.5%
Revenue beat(2)2
Avg Revenue beat(2)1.24%
Min Revenue beat(2)0.94%
Max Revenue beat(2)1.55%
Revenue beat(4)3
Avg Revenue beat(4)0.65%
Min Revenue beat(4)-0.08%
Max Revenue beat(4)1.55%
Revenue beat(8)5
Avg Revenue beat(8)-0.63%
Revenue beat(12)9
Avg Revenue beat(12)-0.24%
Revenue beat(16)11
Avg Revenue beat(16)-2.58%
PT rev (1m)-0.36%
PT rev (3m)-5.06%
EPS NQ rev (1m)-1.11%
EPS NQ rev (3m)-1.84%
EPS NY rev (1m)0%
EPS NY rev (3m)-3.42%
Revenue NQ rev (1m)-0.22%
Revenue NQ rev (3m)-1.62%
Revenue NY rev (1m)-0.38%
Revenue NY rev (3m)-1.65%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 32.75 | ||
| Fwd PE | 26.19 | ||
| P/S | 7.73 | ||
| P/FCF | 21.75 | ||
| P/OCF | 15.06 | ||
| P/B | 22.53 | ||
| P/tB | N/A | ||
| EV/EBITDA | 16.95 |
EPS(TTM)5.39
EY3.05%
EPS(NY)6.74
Fwd EY3.82%
FCF(TTM)8.12
FCFY4.6%
OCF(TTM)11.72
OCFY6.64%
SpS22.84
BVpS7.84
TBVpS-49.63
PEG (NY)1.31
PEG (5Y)4.49
Graham Number30.83
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4% | ||
| ROE | 69.25% | ||
| ROCE | 8.61% | ||
| ROIC | 7.59% | ||
| ROICexc | 7.79% | ||
| ROICexgc | 15.24% | ||
| OM | 45.52% | ||
| PM (TTM) | 23.76% | ||
| GM | 74.18% | ||
| FCFM | 35.54% |
ROA(3y)3.31%
ROA(5y)3.25%
ROE(3y)57.09%
ROE(5y)50.7%
ROIC(3y)6.81%
ROIC(5y)6.01%
ROICexc(3y)7.03%
ROICexc(5y)6.21%
ROICexgc(3y)14.1%
ROICexgc(5y)13.02%
ROCE(3y)7.72%
ROCE(5y)6.82%
ROICexgc growth 3Y14.16%
ROICexgc growth 5Y2.53%
ROICexc growth 3Y18.61%
ROICexc growth 5Y3.19%
OM growth 3Y13.38%
OM growth 5Y2.97%
PM growth 3Y9.08%
PM growth 5Y2.48%
GM growth 3Y0.37%
GM growth 5Y0.51%
F-Score7
Asset Turnover0.17
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 9.26 | ||
| Debt/FCF | 9.84 | ||
| Debt/EBITDA | 4.91 | ||
| Cap/Depr | 82.31% | ||
| Cap/Sales | 15.79% | ||
| Interest Coverage | 3.76 | ||
| Cash Conversion | 79.33% | ||
| Profit Quality | 149.58% | ||
| Current Ratio | 0.4 | ||
| Quick Ratio | 0.4 | ||
| Altman-Z | 1.05 |
F-Score7
WACC7.78%
ROIC/WACC0.98
Cap/Depr(3y)71.8%
Cap/Depr(5y)66.05%
Cap/Sales(3y)16.48%
Cap/Sales(5y)16.72%
Profit Quality(3y)170.28%
Profit Quality(5y)149.63%
High Growth Momentum
Growth
EPS 1Y (TTM)-27.06%
EPS 3Y11.97%
EPS 5Y7.3%
EPS Q2Q%-33.21%
EPS Next Y25.06%
EPS Next 2Y15.15%
EPS Next 3Y13.5%
EPS Next 5Y10.62%
Revenue 1Y (TTM)5.11%
Revenue growth 3Y3.34%
Revenue growth 5Y5.77%
Sales Q2Q%7.45%
Revenue Next Year1.88%
Revenue Next 2Y2.65%
Revenue Next 3Y3.77%
Revenue Next 5Y4.75%
EBIT growth 1Y7.29%
EBIT growth 3Y17.17%
EBIT growth 5Y8.91%
EBIT Next Year45.16%
EBIT Next 3Y16.88%
EBIT Next 5Y12.66%
FCF growth 1Y2.25%
FCF growth 3Y27.57%
FCF growth 5Y5.83%
OCF growth 1Y3.28%
OCF growth 3Y13.92%
OCF growth 5Y7.08%
AMERICAN TOWER CORP / AMT Fundamental Analysis FAQ
What is the fundamental rating for AMT stock?
ChartMill assigns a fundamental rating of 5 / 10 to AMT.
What is the valuation status for AMT stock?
ChartMill assigns a valuation rating of 4 / 10 to AMERICAN TOWER CORP (AMT). This can be considered as Fairly Valued.
What is the profitability of AMT stock?
AMERICAN TOWER CORP (AMT) has a profitability rating of 8 / 10.
Can you provide the PE and PB ratios for AMT stock?
The Price/Earnings (PE) ratio for AMERICAN TOWER CORP (AMT) is 32.75 and the Price/Book (PB) ratio is 22.53.
How sustainable is the dividend of AMERICAN TOWER CORP (AMT) stock?
The dividend rating of AMERICAN TOWER CORP (AMT) is 5 / 10 and the dividend payout ratio is 124.82%.