Is American Tower (AMT) overvalued or fairly valued?

MarketChacha shows American Tower's valuation in context — a trailing P/E of about 32.1, a forward P/E of about 25.1, a price-to-book of about 22.0 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does American Tower's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (2.47×) from reported figures — education, not a rating.

What is American Tower's revenue?

American Tower reported revenue of $935.9M for FY2025, with net profit of $2.6B, per official filings.

What is the share price of American Tower (AMT)?

American Tower last traded at $175.85 (-1.1% on the day), as of 9/4/2026 — a delayed quote shown for education, not investment advice.

American Tower

AMT · NYSE · Real Estate · United States

Snapshot

TickerAMT

ExchangeNYSE

SectorReal Estate

IndustryREIT - Specialty

CountryUnited States

Employees4,866

HeadquartersBoston, United States

Websitewww.americantower.com

Filings tracked25

About American Tower

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 148,000 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.

Who owns it

Insiders0.1%
Institutions96.7%
Public & other3.2%

2,398 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.9.83%
Vanguard Capital Management LLC6.53%
Vanguard Portfolio Management LLC5.98%
State Street Corporation4.74%
Geode Capital Management, LLC2.97%
Cohen & Steers Inc.2.96%
FMR, LLC2.44%
Morgan Stanley2.06%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Profit has grown much faster than revenue while recent results carried sizeable one-off items — some of the profit growth may not repeat.

Cash conversion2.47×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Operating margin trend418.2% → 517.8%

Margin has expanded by about 99.5 points — the business is getting more profitable.

Return on equity72.0%

Latest ROE of 72.0% — capital is generating a healthy return.

Growth qualityrev 12% · PAT 39%

Profit has grown much faster than revenue while recent results carried sizeable one-off items — some of the profit growth may not repeat.

One-off items3 of last 3 yrs

Recent reported profit includes sizeable one-off / non-operating items — the underlying operating trend may differ from the headline.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $2.8B · EPS 1.66

Est. earnings growth -5.2%

Next fiscal year

Rev $11.4B · EPS 7.01

Est. earnings growth +0.4%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$935.9M

ROE

72.0%

Revenue CAGR (2y)

+11.9%

Profit CAGR (2y)

+38.7%

EPS (FY2025)

5.40

Net profit (FY2025)

$2.6B

Ask MarketChacha about AMT

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	ROE
FY2025	$935.9M	$2.6B*	5.40	72.0%
FY2024	$774.6M	$2.3B*	4.82	67.4%
FY2023	$747.3M	$1.4B*	3.18	32.6%

* Net profit includes one-off / non-operating items (e.g. a settlement or accounting gain), so it doesn’t reflect operating performance — net margin is hidden for that period.

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q1	$216.1M	$878.5M*	1.84	—
2025Q3	$246.4M	$912.6M*	1.82	—
2025Q2	$243.7M	$380.5M*	0.78	—
2025Q1	$226.0M	$498.6M*	1.04	—
2024Q4	$2.5B	—	2.62	—
2024Q3	$190.4M	$-780.4M	-1.69	-409.9%
2024Q2	$196.4M	$908.4M*	1.92	—
2024Q1	$173.0M	$921.7M*	1.96	—
2023Q4	$2.5B	—	0.18	—
2023Q3	$185.7M	$577.3M*	1.26	—
2023Q2	$196.2M	$461.5M*	1.02	—
2023Q1	$205.7M	$315.0M*	0.72	—

* Net profit includes one-off / non-operating items (e.g. a settlement or accounting gain), so it doesn’t reflect operating performance — net margin is hidden for that period.

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

10-Q filing
SEC7/28/2026
8-K — Results of operations, Exhibits
SEC7/28/2026material
8-K — Other events
SEC6/4/2026material
8-K — Other events
SEC6/2/2026material
8-K — Material agreement, Material financial obligation, Exhibits
SEC5/27/2026material
8-K — Executive/director change, Shareholder vote results, Other events, Exhibits
SEC5/21/2026material
8-K — Other events, Exhibits
SEC5/19/2026material
8-K — Material agreement, Material financial obligation
SEC5/7/2026material
8-K — Results of operations, Exhibits
SEC4/28/2026material
10-Q filing
SEC4/28/2026
8-K — Executive/director change
SEC3/10/2026material
8-K — Other events, Exhibits
SEC3/5/2026material
8-K — Executive/director change
SEC2/27/2026material
8-K — Results of operations, Exhibits
SEC2/24/2026material
10-K filing
SEC2/24/2026
8-K — Executive/director change
SEC1/29/2026material
8-K — Other events
SEC1/28/2026material

2025

8-K — Material agreement, Material financial obligation, Exhibits
SEC12/5/2025material
8-K — Other events, Exhibits
SEC12/4/2025material
8-K — Other events, Exhibits
SEC12/2/2025material
8-K — Executive/director change
SEC11/7/2025material
8-K — Results of operations, Exhibits
SEC10/28/2025material
10-Q filing
SEC10/28/2025
8-K — Reg FD disclosure
SEC9/24/2025material
8-K — Executive/director change, Other events, Exhibits
SEC9/18/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.