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

  • In the past year AMT was profitable.
  • In the past year AMT had a positive cash flow from operations.
  • AMT had positive earnings in each of the past 5 years.
  • AMT had a positive operating cash flow in each of the past 5 years.
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

  • AMT's Return On Assets of 4.00% is fine compared to the rest of the industry. AMT outperforms 67.86% of its industry peers.
  • AMT has a better Return On Equity (69.25%) than 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 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

  • The Profit Margin of AMT (23.76%) is comparable to the rest of the industry.
  • AMT's Profit Margin has improved in the last couple of years.
  • AMT's Operating Margin of 45.52% is fine compared to the rest of the industry. AMT outperforms 71.43% of its industry peers.
  • AMT's Operating Margin has improved in the last couple of years.
  • The Gross Margin of AMT (74.18%) is better than 75.00% of its industry peers.
  • 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

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so AMT is destroying value.
  • AMT has about the same amout of shares outstanding than it did 1 year ago.
  • The number of shares outstanding for AMT has been increased compared to 5 years ago.
  • The debt/assets ratio for AMT has been reduced compared to a year ago.
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.
  • AMT has a Altman-Z score of 1.05. This is comparable to the rest of the industry: AMT outperforms 50.00% of its industry peers.
  • 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.
  • The Debt to FCF ratio of AMT (9.84) is better than 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.
  • 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/WACC0.97
WACC7.79%
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

  • AMT has a Current 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 Current ratio of 0.40. This is in the lower half of the industry: AMT underperforms 67.86% of its industry peers.
  • A Quick Ratio of 0.40 indicates that AMT may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.40, AMT is not doing good in the industry: 67.86% of the companies in the same industry are doing better.
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

  • AMT shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -27.06%.
  • 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.
  • AMT shows a small growth in Revenue. In the last year, the Revenue has grown by 5.11%.
  • The Revenue has been growing slightly by 5.77% on average over the past years.
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

  • AMT is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 10.62% yearly.
  • AMT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.75% yearly.
EPS Next Y25.06%
EPS Next 2Y15.15%
EPS Next 3Y13.5%
EPS Next 5Y10.62%
Revenue Next Year1.88%
Revenue Next 2Y2.64%
Revenue Next 3Y3.77%
Revenue Next 5Y4.75%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • 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

  • Based on the Price/Earnings ratio of 32.23, the valuation of AMT can be described as expensive.
  • AMT's Price/Earnings ratio is in line with the industry average.
  • When comparing the Price/Earnings ratio of AMT to the average of the S&P500 Index (25.60), we can say AMT is valued slightly more expensively.
  • Based on the Price/Forward Earnings ratio of 25.77, the valuation of AMT can be described as expensive.
  • Based on the Price/Forward Earnings ratio, AMT is valued a bit cheaper than the industry average as 64.29% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.84, AMT is valued at the same level.
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AMT indicates a somewhat cheap valuation: AMT is cheaper than 64.29% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, AMT is valued a bit cheaper than 71.43% of the companies 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

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

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

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 4.64, AMT is paying slightly less dividend.
  • AMT's Dividend Yield is rather good when compared to the S&P500 average which is at 1.90.
Industry RankSector 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.
  • AMT has decreased its dividend recently.
Dividend Growth(5Y)9.2%
Div Incr Years1
Div Non Decr Years1
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.
  • 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 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 Change11.27%
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 Years1
Div Non Decr Years1
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)-0.66%
EPS NQ rev (3m)-1.84%
EPS NY rev (1m)-3.39%
EPS NY rev (3m)-3.42%
Revenue NQ rev (1m)-1.18%
Revenue NQ rev (3m)-1.62%
Revenue NY rev (1m)-1.48%
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
WACC7.79%
ROIC/WACC0.97
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 2Y2.64%
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%.