AMERICAN TOWER CORP (AMT) Stock Fundamental Analysis
USA - NYSE:AMT - US03027X1000 - REIT
192.7 USD
+0.33 (+0.17%)
AMT gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 30 industry peers in the Specialized REITs industry. AMT has an excellent profitability rating, but there are concerns on its financial health. AMT is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
AMT had positive earnings in the past year.
In the past year AMT had a positive cash flow from operations.
Each year in the past 5 years AMT has been profitable.
AMT had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
AMT has a Return On Assets of 2.03%. This is comparable to the rest of the industry: AMT outperforms 53.33% of its industry peers.
AMT has a Return On Equity of 34.82%. This is amongst the best in the industry. AMT outperforms 96.67% of its industry peers.
With an excellent Return On Invested Capital value of 6.37%, AMT belongs to the best of the industry, outperforming 83.33% of the companies in the same industry.
AMT had an Average Return On Invested Capital over the past 3 years of 5.18%. This is in line with the industry average of 4.79%.
The last Return On Invested Capital (6.37%) for AMT is above the 3 year average (5.18%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.03% | ||
| ROE | 34.82% | ||
| ROIC | 6.37% |
ROA(3y)2.86%
ROA(5y)3.16%
ROE(3y)44.56%
ROE(5y)45.11%
ROIC(3y)5.18%
ROIC(5y)5.17%
1.3 Margins
AMT's Profit Margin of 12.60% is in line compared to the rest of the industry. AMT outperforms 53.33% of its industry peers.
AMT's Profit Margin has declined in the last couple of years.
AMT has a better Operating Margin (45.53%) than 76.67% of its industry peers.
In the last couple of years the Operating Margin of AMT has grown nicely.
Looking at the Gross Margin, with a value of 74.37%, AMT is in the better half of the industry, outperforming 63.33% of the companies in the same industry.
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 | 45.53% | ||
| PM (TTM) | 12.6% | ||
| GM | 74.37% |
OM growth 3Y6.24%
OM growth 5Y3.81%
PM growth 3Y-6.73%
PM growth 5Y-2.21%
GM growth 3Y1.49%
GM growth 5Y1.06%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so AMT is destroying value.
Compared to 1 year ago, AMT has more shares outstanding
Compared to 5 years ago, AMT has more shares outstanding
AMT has a worse debt/assets ratio than last year.
2.2 Solvency
AMT has an Altman-Z score of 1.15. This is a bad value and indicates that AMT is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.15, AMT is in line with its industry, outperforming 56.67% of the companies in the same industry.
The Debt to FCF ratio of AMT is 10.02, which is on the high side as it means it would take AMT, 10.02 years of fcf income to pay off all of its debts.
AMT has a Debt to FCF ratio of 10.02. This is in the better half of the industry: AMT outperforms 76.67% of its industry peers.
A Debt/Equity ratio of 9.48 is on the high side and indicates that AMT has dependencies on debt financing.
AMT has a Debt to Equity ratio of 9.48. This is amonst the worse of the industry: AMT underperforms 80.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 9.48 | ||
| Debt/FCF | 10.02 | ||
| Altman-Z | 1.15 |
ROIC/WACC0.87
WACC7.29%
2.3 Liquidity
AMT has a Current Ratio of 0.61. 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's Current ratio of 0.61 is in line compared to the rest of the industry. AMT outperforms 46.67% of its industry peers.
AMT has a Quick Ratio of 0.61. 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 (0.61) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.61 | ||
| Quick Ratio | 0.61 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 0.19% over the past year.
The Earnings Per Share has been growing by 11.80% on average over the past years. This is quite good.
The Revenue has been growing slightly by 2.24% in the past year.
The Revenue has been growing slightly by 5.96% on average over the past years.
EPS 1Y (TTM)0.19%
EPS 3Y9.23%
EPS 5Y11.8%
EPS Q2Q%-59.37%
Revenue 1Y (TTM)2.24%
Revenue growth 3Y2.67%
Revenue growth 5Y5.96%
Sales Q2Q%-9.43%
3.2 Future
Based on estimates for the next years, AMT will show a small growth in Earnings Per Share. The EPS will grow by 3.64% on average per year.
Based on estimates for the next years, AMT will show a small growth in Revenue. The Revenue will grow by 4.50% on average per year.
EPS Next Y-27.51%
EPS Next 2Y-1.32%
EPS Next 3Y1.12%
EPS Next 5Y3.64%
Revenue Next Year-0.38%
Revenue Next 2Y2.05%
Revenue Next 3Y2.9%
Revenue Next 5Y4.5%
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 decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 36.15, the valuation of AMT can be described as expensive.
Compared to the rest of the industry, the Price/Earnings ratio of AMT is on the same level as its industry peers.
Compared to an average S&P500 Price/Earnings ratio of 27.77, AMT is valued a bit more expensive.
A Price/Forward Earnings ratio of 26.78 indicates a quite expensive valuation of AMT.
Compared to the rest of the industry, the Price/Forward Earnings ratio of AMT indicates a somewhat cheap valuation: AMT is cheaper than 70.00% of the companies listed in the same industry.
AMT is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 23.23, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.15 | ||
| Fwd PE | 26.78 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AMT is on the same level as its industry peers.
66.67% 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 | 24.12 | ||
| EV/EBITDA | 18.76 |
4.3 Compensation for Growth
The decent profitability rating of AMT may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)3.06
EPS Next 2Y-1.32%
EPS Next 3Y1.12%
5. Dividend
5.1 Amount
AMT has a Yearly Dividend Yield of 3.51%. Purely for dividend investing, there may be better candidates out there.
AMT's Dividend Yield is slightly below the industry average, which is at 5.76.
AMT's Dividend Yield is a higher than the S&P500 average which is at 2.36.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.51% |
5.2 History
The dividend of AMT is nicely growing with an annual growth rate of 12.67%!
AMT has paid a dividend for at least 10 years, which is a reliable track record.
The dividend of AMT decreased recently.
Dividend Growth(5Y)12.67%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
238.27% of the earnings are spent on dividend by AMT. This is not a sustainable payout ratio.
AMT's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP238.27%
EPS Next 2Y-1.32%
EPS Next 3Y1.12%
NYSE:AMT (10/22/2025, 2:53:09 PM)
192.7
+0.33 (+0.17%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners95.09%
Inst Owner Change-0.04%
Ins Owners0.05%
Ins Owner Change-0.05%
Market Cap90.23B
Revenue(TTM)10.26B
Net Income(TTM)1.29B
Analysts80.74
Price Target253.87 (31.74%)
Short Float %1.19%
Short Ratio2.03
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.51% |
Yearly Dividend6.59
Dividend Growth(5Y)12.67%
DP238.27%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-44.78%
Min EPS beat(2)-53.6%
Max EPS beat(2)-35.96%
EPS beat(4)1
Avg EPS beat(4)-21.12%
Min EPS beat(4)-53.6%
Max EPS beat(4)49.1%
EPS beat(8)4
Avg EPS beat(8)-15.67%
EPS beat(12)5
Avg EPS beat(12)-29.18%
EPS beat(16)8
Avg EPS beat(16)-12.17%
Revenue beat(2)1
Avg Revenue beat(2)0.05%
Min Revenue beat(2)-0.08%
Max Revenue beat(2)0.19%
Revenue beat(4)1
Avg Revenue beat(4)-2.41%
Min Revenue beat(4)-9.43%
Max Revenue beat(4)0.19%
Revenue beat(8)5
Avg Revenue beat(8)-0.74%
Revenue beat(12)7
Avg Revenue beat(12)-3.76%
Revenue beat(16)11
Avg Revenue beat(16)-2.66%
PT rev (1m)0%
PT rev (3m)0.19%
EPS NQ rev (1m)-0.27%
EPS NQ rev (3m)-1.2%
EPS NY rev (1m)-1.77%
EPS NY rev (3m)-14.05%
Revenue NQ rev (1m)-0.34%
Revenue NQ rev (3m)2.18%
Revenue NY rev (1m)-0.22%
Revenue NY rev (3m)1.42%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.15 | ||
| Fwd PE | 26.78 | ||
| P/S | 8.79 | ||
| P/FCF | 24.12 | ||
| P/OCF | 17.2 | ||
| P/B | 24.3 | ||
| P/tB | N/A | ||
| EV/EBITDA | 18.76 |
EPS(TTM)5.33
EY2.77%
EPS(NY)7.2
Fwd EY3.73%
FCF(TTM)7.99
FCFY4.15%
OCF(TTM)11.2
OCFY5.81%
SpS21.91
BVpS7.93
TBVpS-50.18
PEG (NY)N/A
PEG (5Y)3.06
Graham Number30.84
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.03% | ||
| ROE | 34.82% | ||
| ROCE | 8.07% | ||
| ROIC | 6.37% | ||
| ROICexc | 6.61% | ||
| ROICexgc | 12.9% | ||
| OM | 45.53% | ||
| PM (TTM) | 12.6% | ||
| GM | 74.37% | ||
| FCFM | 36.46% |
ROA(3y)2.86%
ROA(5y)3.16%
ROE(3y)44.56%
ROE(5y)45.11%
ROIC(3y)5.18%
ROIC(5y)5.17%
ROICexc(3y)5.37%
ROICexc(5y)5.37%
ROICexgc(3y)11.15%
ROICexgc(5y)11.35%
ROCE(3y)6.56%
ROCE(5y)6.55%
ROICexgc growth 3Y7.7%
ROICexgc growth 5Y1.6%
ROICexc growth 3Y13.68%
ROICexc growth 5Y2.09%
OM growth 3Y6.24%
OM growth 5Y3.81%
PM growth 3Y-6.73%
PM growth 5Y-2.21%
GM growth 3Y1.49%
GM growth 5Y1.06%
F-Score5
Asset Turnover0.16
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 9.48 | ||
| Debt/FCF | 10.02 | ||
| Debt/EBITDA | 5.26 | ||
| Cap/Depr | 74.57% | ||
| Cap/Sales | 14.66% | ||
| Interest Coverage | 3.58 | ||
| Cash Conversion | 78.43% | ||
| Profit Quality | 289.38% | ||
| Current Ratio | 0.61 | ||
| Quick Ratio | 0.61 | ||
| Altman-Z | 1.15 |
F-Score5
WACC7.29%
ROIC/WACC0.87
Cap/Depr(3y)62.98%
Cap/Depr(5y)60.55%
Cap/Sales(3y)17.69%
Cap/Sales(5y)16.13%
Profit Quality(3y)154.82%
Profit Quality(5y)153.43%
High Growth Momentum
Growth
EPS 1Y (TTM)0.19%
EPS 3Y9.23%
EPS 5Y11.8%
EPS Q2Q%-59.37%
EPS Next Y-27.51%
EPS Next 2Y-1.32%
EPS Next 3Y1.12%
EPS Next 5Y3.64%
Revenue 1Y (TTM)2.24%
Revenue growth 3Y2.67%
Revenue growth 5Y5.96%
Sales Q2Q%-9.43%
Revenue Next Year-0.38%
Revenue Next 2Y2.05%
Revenue Next 3Y2.9%
Revenue Next 5Y4.5%
EBIT growth 1Y19.68%
EBIT growth 3Y9.08%
EBIT growth 5Y10%
EBIT Next Year49.02%
EBIT Next 3Y17.59%
EBIT Next 5Y13.43%
FCF growth 1Y56.07%
FCF growth 3Y2.43%
FCF growth 5Y6.03%
OCF growth 1Y19.28%
OCF growth 3Y3.15%
OCF growth 5Y7.11%