Stock · AMT · Real Estate

American Tower Corp

United States · Large Cap · listed since 1998 · Revenue 12 mo. $10.9B

Price as of 11/06/2026

StockScorer score
1.8
of 10 2 of 11 points Not rated To the score
Price
$188.79
1 Y −3.6%
Market cap
$87.3B
Phase
Payout
core business profitable, at least half of operating cash flow goes to shareholders
Revenue +3.3% a year (3 years)EBIT margin 45.8%Payout 66.5% of operating cash flow

American Tower Corporation one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 147,000 communications sites and a highly interconnected footprint of U.S. data center facilities.

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American Tower Corporation one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 147,000 communications sites and a highly interconnected footprint of U.S. data center facilities. American Tower Corporation was incorporated in 1995 in Delaware and is based in Massachusetts, Boston.

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Summary

American Tower Corp is around the middle of the Real Estate sector overall

55.7 of 100

Mean of the six area values. Each area value is the mean of the stock's ranks among the companies in its sector. 50 is the middle of the sector, not a share of companies beaten.

Analysis

What the price requires

The price requires 10.2% FCF growth a year, more than achieved over the last 5 and 10 years.

If free cash flow stays at €3.4B (2025), it supports €37.7B. The remaining €40.6B of the market value assume it grows 10.2% a year for 10 years and not at all afterwards.

Required FCF growth per year

10.2%

no growth afterwards

Market value breakdown€78.4B market value, price as of 11/06/2026

€37.7B without growth
€40.6B priced-in growth
  • 5 yrs achieved 8.7%
  • 10 yrs achieved 8.1%
  • priced in 10.2%

Valuation against its own history

Price to operating cash flow 15.3×, below its usual range.

Middle half of 20 quarters: 17.0× to 24.0×, median 20.2×.

Measures only against its own past, not against what the company is worth. Price as of 11/06/2026.

1 sign supports the expectation, 2 speak against it.

What supports it

with respect to the priced-in expectation

  • High, stable gross margin median 71.8%, range 5.5 pp (10 years)

What speaks against it

with respect to the priced-in expectation

  • Expectation above the company's own record priced in 10.2%, achieved at most 8.7%
  • High leverage debt to equity 12.31

Since the last quarter

Q1 → Q2 2026

Mostly better than the previous quarter: 3 of 3 changes for the better.

  • FCF, 12 mo.$3.8B → $4.0B+5.0%better
  • FCF margin34.9% → 36.2%+1.3 ppbetter
  • Return on equity81.7% → 90.8%+9.1 ppbetter

5 more unchanged: Revenue, 12 mo., Gross margin, EBIT margin, Net debt, Shares outstanding

Derivation

How the sector comparison is derived

Each area value is the average of its metrics' ranks within the sector (0 to 100, 50 is the middle). For metrics where lower is better, the rank is mirrored. The overall value is the average of the area values.

Price as of 11/06/2026.

Profitability62.2above the middleEarns more than the sector: Return on equity 69.26%, sector 7.47%.
MetricStockSector medianPosition in sector
Return on equity69.26%7.47%Rank 98
Return on capital (Greenblatt)16.96%30.55%Rank 38
EBIT margin45.85%45.85%Rank 50
FCF margin35.54%37.62%Rank 48
Gross margin73.68%55.39%Rank 77
Growth63.8above the middleGrows faster than the sector: Sustainable growth (ROE × retained earnings) 15.79%, sector 2.49%.
MetricStockSector medianPosition in sector
Revenue growth, 1 year5.11%6.62%Rank 45
Earnings growth, 3 years per year12.22%3.56%Rank 70
Earnings growth, 5 years per year7.31%4.17%Rank 62
Sustainable growth (ROE × retained earnings)15.79%2.49%Rank 78
Valuation39.2below the middleValued higher than the sector: Earnings yield 2.86%, sector 5.58%.
MetricStockSector medianPosition in sector
Earnings yield2.86%5.58%Rank 22
FCF yield4.33%4.79%Rank 45
EV/saleslower is better12.2912.03Rank 48
EV/EBITlower is better26.8023.23Rank 42
Momentum87.4above the middleShare price doing better than the sector: Share price, 3 months 14.55%, sector 0.34%.
MetricStockSector medianPosition in sector
Share price, 1 year−3.60%−13.68%Rank 78
Share price, 6 months7.43%−6.91%Rank 86
Share price, 3 months14.55%0.34%Rank 93
Distance from 52-week high−3.12%−18.73%Rank 92
Quality61.3above the middleQuality above the sector: Dividend streak in years 14, sector 4.
MetricStockSector medianPosition in sector
Accruals (Sloan)lower is better−1.97%3.12%Rank 88
Change in share countlower is better0.22%0.26%Rank 52
Dividend streak in years144Rank 92
Price reaction to results, market-adjusted−3.03%−0.47%Rank 14
Balance sheet & risk20.4below the middleMore risk than the sector: Debt to equity 12.31, sector 0.92.
MetricStockSector medianPosition in sector
Equity ratio5.78%46.36%Rank 4
Net debt/EBITDAlower is better7.136.62Rank 40
Debt to equitylower is better12.310.92Rank 1
Volatility, 1 yearlower is better28.25%25.05%Rank 37

Ten years in figures

Revenue from $5.8B (2016) to $10.6B (2025), 7.0% a year.

Fiscal years, amounts in USD
YearRevenue, $BEBIT marginFCF, $BSharesNet debt, $B
20165.832.0%2.0429M17.7
20176.730.0%2.1432M19.4
20187.425.6%2.8443M20.0
20197.635.5%2.8446M29.6
20208.035.9%2.8446M35.0
20219.433.5%3.4453M50.1
20229.628.4%1.8463M45.0
202310.031.2%2.9467M44.6
202410.144.6%3.7468M42.0
202510.645.9%3.8469M43.5
1.8 / 10Not ratedStockScorer score2 of 11 points

2 of 7 StockScorer Score rules met · How the score is built

American Tower Corp mainly meets criteria in the Growth category. Result from 18 strategies checked.

This stock · Profitability: 33%This stock · Growth: 50%This stock · Valuation: 0%This stock · Momentum: 0%Median of all stocks · Profitability: 33%Median of all stocks · Growth: 0%Median of all stocks · Valuation: 0%Median of all stocks · Momentum: 0%50%100%ProfitabilityGrowthValuationMomentumThis stockMedian of all stocks

How American Tower Corp's score is built

This is how the StockScorer Score strategy, the flagship rule set, calculates the points for American Tower Corp. It compares return and cash-flow metrics with the median of the company's own sector and checks growth and price trend.

2 of 7 rules met

2 of 11 points

The rule “Exclusion: financial and real estate stocks” applies. The stock is therefore not rated regardless of the points scored.

  1. Free cash flow yield above the sector mediannot met0 of 2 points
  2. Return on capital (Greenblatt ROC) above the sector mediannot met0 of 2 points
  3. Return on equity above the sector medianmet1 of 1 point
  4. Free cash flow margin above the sector mediannot met0 of 2 points
  5. Revenue growth above 15%not met0 of 2 points
  6. 3-year earnings growth above 12% p.a.met1 of 1 point
  7. 12-month share price more than 20 percentage points ahead of the marketnot met0 of 1 point
  8. Exclusion: financial and real estate stocksapplies

Detail data

How does American Tower Corp stock perform across 18 strategies?

Excerpt from 18 strategies checked. The full evaluation is visible after a free sign-up.

12 more strategies locked

With a free account, you can see the match across all strategies checked in one complete overview.

  • Moat Quality
  • Defensive: Low Volatility
  • Dividend Aristocrats & Continuity
  • Balanced GARP
  • StockScorer Score
  • Altman Z-Score: Stress Test
  • Magic Formula: Value + Quality
  • Acquirer's Multiple: EV/EBIT Deep Value
  • Levermann Strategy (13 Criteria)
  • PEG Strategy (inspired by Peter Lynch)
  • Trending Value: Value + Momentum
  • Undervalued Stocks: Multi-Factor Check

American Tower Corp key metrics: P/E, P/B and equity ratio

Selected fundamental metrics for American Tower Corp.

MetricStockSector
P/E ratio35.016.4
P/B ratio24.21.0
Return on equity (ROE)69.3%7.5%
Equity ratio5.8%46.4%
Debt-to-equity (D/E)12.310.92
Dividend yield3.7%4.2%

Similar stocks in Real Estate

How comparable stocks in the same sector score in the StockScorer model.

SymbolCompanyRating
AMTAmerican Tower Corpthis page
EQIXEquinix IncLow1.8
DLRDigital Realty Trust IncLow2.7
CCICrown CastleLow3.6
IRMIron Mountain Incorporatedlocked
SBACSBA Communications Corplocked

Frequently asked questions about American Tower Corp stock

How does American Tower Corp stock (AMT) score in the StockScorer model?
American Tower Corp stock reaches a StockScorer score of 1.8 out of 10, but is not rated (exclusion rule: Exclusion: financial and real estate stocks).
What is American Tower Corp's P/E ratio?
American Tower Corp's P/E ratio is 35.0. The Real Estate sector median is 16.4.
What sector is American Tower Corp in?
American Tower Corp is assigned to the Real Estate sector. Its rank within the sector is 55.7 out of 100: 100 means the stock leads its peer group of large and mid-cap sector stocks in every measured area.

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