Fundamental analysis · SEC EDGAR · TTM through 31/03/2026
AMT · NYSE · Real estate
Fundamental quality
78
out of 100
American Tower Corp runs like a cash machine: it converts about 34.9% of revenue into free cash flow and holds a 27.8% net margin, though it grows at a measured pace. On fundamental quality it scores 78 out of 100, profiling it as a company with solid fundamentals. Its weakest area is its growth (revenue +5.8%/yr). Whether it's cheap or expensive depends on the current price, which you can compute in the tool.
American Tower is a REIT that owns hundreds of thousands of telecom towers worldwide. Mobile carriers lease space on them for decades under contracts with built-in escalators: a toll-booth business on data traffic.
EPS growth: 9.8% · Revenue growth: 5.8%
Net margin: 27.8% · ROE: 85.4% · ROIC: 10.8%
Net debt/EBITDA: 5.18x · FCF: 34.9%
Source: SEC EDGAR · TTM through 31/03/2026
The score includes +1 for dividend strength: 6 consecutive years of increases. Keeping that streak demands growing cash generation and balance-sheet discipline.
The score combines growth, profitability and financial strength. Here its profitability weighs in its favor, while its growth drags it down the most.
Percentile against the other 12 Real estate companies in our coverage: how far it beats them on each metric (100 = best in sector).
Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.
Key concepts
What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow
| Year | Revenue | Net income | Free cash flow | Net debt |
|---|---|---|---|---|
| 2020 | 8,042 | 1,691 | 2,850 | 27,541 |
| 2021 | 9,357 | 2,568 | 3,443 | 46,116 |
| 2022 | 9,645 | 1,697 | 1,823 | 41,867 |
| 2023 | 10,012 | 1,367 | 2,924 | 37,048 |
| 2024 | 10,127 | 2,280 | 3,701 | 34,502 |
| 2025 | 10,645 | 2,629 | 3,784 | 35,746 |
Between 2020 and 2025, revenue went from $8,042M to $10,645M (+32%) and net income went from $1,691M to $2,629M (+55%). Meanwhile, its margins have widened (from 21% to 25%).
Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.
Latest results
Figures for the quarter ended March 31, 2026, versus the quarter ended March 31, 2025 (SEC filings):
Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.
$6.72
per share, yearly
84.1% of free cash flow
Payout
at least 6 straight years raising it
Growth
For a REIT the dividend is paid out of cash flow (FFO), not accounting earnings, which depreciation distorts.
That is what we can verify in the SEC filings, whose structured data only starts in 2008 and which many companies begin tagging later. The real streak may be considerably longer.
The dividend yield depends on today's price. Compute it in the analyzer → · See all dividend-paying stocks →
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Is American Tower Corp cheap or expensive?
That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).
Compute the valuation →Is American Tower Corp a good company to invest in?
In terms of business quality, American Tower Corp scores 78 out of 100 in our analysis, placing it as a company of high fundamental quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.
Is American Tower Corp a profitable company?
Very. American Tower Corp shows a net margin of 27.8% and an ROE of 85.4%, typical of a highly profitable business.
Does American Tower Corp have a lot of debt?
Yes, its leverage is high: net debt is 5.18 times its EBITDA.
Is American Tower Corp growing?
Its revenue has grown 5.8% annualized in recent years and its earnings per share 9.8%, and without interruption since 2020.
Does American Tower Corp generate cash?
Yes. It converts about 34.9% of its revenue into free cash flow, and has done so positively year after year.
The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.
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Who's behind the methodology and model · how the score is computed
Data: see American Tower Corp's filings on EDGAR
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