AMERICAN TOWER CORP (AMT) Fundamental Analysis & Valuation

NYSE:AMT • US03027X1000

Current stock price

173.73 USD
+2.71 (+1.58%)
At close:
173.9 USD
+0.17 (+0.1%)
After Hours:

This AMT fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. AMT Profitability Analysis

1.1 Basic Checks

  • AMT had positive earnings in the past year.
  • In the past year AMT had a positive cash flow from operations.
  • In the past 5 years AMT has always been profitable.
  • In the past 5 years AMT always reported a positive cash flow from operatings.
AMT Yearly Net Income VS EBIT VS OCF VS FCFAMT Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B

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.
  • Looking at the Return On Equity, with a value of 69.25%, AMT belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
  • AMT's Return On Invested Capital of 7.59% is amongst the best of the industry. AMT outperforms 85.71% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for AMT is in line with the industry average of 5.10%.
  • The 3 year average ROIC (6.81%) for AMT is below the current ROIC(7.59%), indicating increased profibility in the last year.
Industry RankSector 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%
AMT Yearly ROA, ROE, ROICAMT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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.
  • In the last couple of years the Profit Margin of AMT has grown nicely.
  • With a decent Operating Margin value of 45.52%, AMT is doing good in the industry, outperforming 71.43% of the companies in the same industry.
  • AMT's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 74.18%, AMT is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
  • AMT's Gross Margin has been stable in the last couple of years.
Industry RankSector 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%
AMT Yearly Profit, Operating, Gross MarginsAMT Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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2

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.
  • Compared to 1 year ago, AMT has about the same amount of shares outstanding.
  • Compared to 5 years ago, AMT has more shares outstanding
  • Compared to 1 year ago, AMT has an improved debt to assets ratio.
AMT Yearly Shares OutstandingAMT Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M
AMT Yearly Total Debt VS Total AssetsAMT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B

2.2 Solvency

  • Based on the Altman-Z score of 1.05, we must say that AMT is in the distress zone and has some risk of bankruptcy.
  • The Altman-Z score of AMT (1.05) is comparable to the rest of the 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.
  • With a decent Debt to FCF ratio value of 9.84, AMT is doing good in the industry, outperforming 75.00% of the companies in the same industry.
  • A Debt/Equity ratio of 9.26 is on the high side and indicates that AMT has dependencies on debt financing.
  • The Debt to Equity ratio of AMT (9.26) is worse than 78.57% of its industry peers.
Industry RankSector Rank
Debt/Equity 9.26
Debt/FCF 9.84
Altman-Z 1.05
ROIC/WACC0.98
WACC7.78%
AMT Yearly LT Debt VS Equity VS FCFAMT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B

2.3 Liquidity

  • A Current Ratio of 0.40 indicates that AMT may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.40, AMT is doing worse than 67.86% of the companies in the same industry.
  • A Quick Ratio of 0.40 indicates that AMT may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.40, AMT is doing worse than 67.86% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.4
Quick Ratio 0.4
AMT Yearly Current Assets VS Current LiabilitesAMT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. AMT Growth Analysis

3.1 Past

  • The earnings per share for AMT have decreased strongly by -27.06% in the last year.
  • Measured over the past 5 years, AMT shows a small growth in Earnings Per Share. The EPS has been growing by 7.30% on average per year.
  • The Revenue has been growing slightly by 5.11% in the past 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.
  • Based on estimates for the next years, AMT will show a small growth in Revenue. The Revenue will grow by 4.75% on average per year.
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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
AMT Yearly Revenue VS EstimatesAMT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 5B 10B
AMT Yearly EPS VS EstimatesAMT Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2 4 6 8

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4

4. AMT Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 32.23, AMT can be considered very expensive at the moment.
  • AMT's Price/Earnings is on the same level as the industry average.
  • When comparing the Price/Earnings ratio of AMT to the average of the S&P500 Index (26.17), we can say AMT is valued slightly more expensively.
  • A Price/Forward Earnings ratio of 25.77 indicates a quite expensive valuation of AMT.
  • 64.29% of the companies in the same industry are more expensive than AMT, based on the Price/Forward Earnings ratio.
  • AMT is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 23.05, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 32.23
Fwd PE 25.77
AMT Price Earnings VS Forward Price EarningsAMT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, AMT is valued a bit cheaper than 64.29% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of AMT indicates a somewhat cheap valuation: AMT is cheaper than 71.43% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 21.4
EV/EBITDA 16.95
AMT Per share dataAMT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 -40

4.3 Compensation for Growth

  • AMT's 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)1.29
PEG (5Y)4.42
EPS Next 2Y15.15%
EPS Next 3Y13.5%

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5

5. AMT Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 4.06%, AMT is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 4.65, AMT is paying slightly less dividend.
  • AMT's Dividend Yield is rather good when compared to the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 4.06%

5.2 History

  • The dividend of AMT is nicely growing with an annual growth rate of 9.20%!
  • AMT has been paying a dividend for at least 10 years, so it has a reliable track record.
  • AMT has decreased its dividend in the last 3 years.
Dividend Growth(5Y)9.2%
Div Incr Years2
Div Non Decr Years2
AMT Yearly Dividends per shareAMT Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6

5.3 Sustainability

  • 124.82% of the earnings are spent on dividend by AMT. This is not a sustainable payout ratio.
  • The dividend of AMT is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP124.82%
EPS Next 2Y15.15%
EPS Next 3Y13.5%
AMT Yearly Income VS Free CF VS DividendAMT Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B
AMT Dividend Payout.AMT Dividend Payout, showing the Payout Ratio.AMT Dividend Payout.PayoutRetained Earnings

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AMT Fundamentals: All Metrics, Ratios and Statistics

AMERICAN TOWER CORP

NYSE:AMT (4/2/2026, 8:07:57 PM)

After market: 173.9 +0.17 (+0.1%)

173.73

+2.71 (+1.58%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)02-24
Earnings (Next)04-28
Inst Owners95.98%
Inst Owner Change0%
Ins Owners0.07%
Ins Owner Change4.56%
Market Cap80.97B
Revenue(TTM)10.64B
Net Income(TTM)2.53B
Analysts77.86
Price Target220.37 (26.85%)
Short Float %1.41%
Short Ratio1.96
Dividend
Industry RankSector 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
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 RankSector Rank
PE 32.23
Fwd PE 25.77
P/S 7.61
P/FCF 21.4
P/OCF 14.82
P/B 22.17
P/tB N/A
EV/EBITDA 16.95
EPS(TTM)5.39
EY3.1%
EPS(NY)6.74
Fwd EY3.88%
FCF(TTM)8.12
FCFY4.67%
OCF(TTM)11.72
OCFY6.75%
SpS22.84
BVpS7.84
TBVpS-49.63
PEG (NY)1.29
PEG (5Y)4.42
Graham Number30.83
Profitability
Industry RankSector 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 RankSector 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 32.23 and the Price/Book (PB) ratio is 22.17.


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%.