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Profile & Fundamentals

American Tower Profile & Fundamentals

Name: American Tower financial chart data preview
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Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.

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Company and Market Context

Company Profile & Ownership

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.

Company profile record

American Tower Corp

Common Stock · Real Estate · Telecom Tower REITs

Official website

Company

Company / asset: American Tower Corp
Security type: Common Stock
Sector: Real Estate
Industry: Telecom Tower REITs
HQ: 🇺🇸 United States
Head office: 222 Berkeley Street, Boston, MA, United States, 02116

Leadership & scale

Chief executive: Mr. Steven O. Vondran J.D.
CEO year born: 1971
Full-time employees: 4.9K
Fiscal year end: December
IPO date: 1998-06-05

Fundamentals snapshot

Updated 2026-09-14

Market Cap: USD 81.5B
P/E: 24.1x
Revenue (Q2 26): USD 2.7B
Profit (Q2 26): USD 867.5M
Dividend Yield: 2.8%
Revenue (FY 25): USD 10.6B
Shares in public float: 464.5M
Insider ownership: 0.08%

Reporting & identifiers

Symbol: AMT.NYSE
Listing: 🇺🇸 United States | Dividend Tax: 30%
Ticker Currency: USD
Income Statement Currency: USD
Balance Sheet Currency: USD
Cash Flow Currency: USD
EPS Currency: USD
Contract Type: SPOT
ISIN: US03027X1000
Asset ID: equity_3ae93f3c-eda4-5ec9-bf36-83f6dd6f0e24

Ownership

Shares Outstanding

Shares outstanding

Annual reported shares outstanding. Values in shares.

Top holders

BlackRock Inc44,954,137 shares · 9.65% · Reported 2026-03-31
Vanguard Capital Management, LLC30,362,380 shares · 6.52% · Reported 2026-03-31
Vanguard Portfolio Management, LLC27,596,159 shares · 5.92% · Reported 2026-03-31
State Street Corp21,434,609 shares · 4.60% · Reported 2026-03-31
Vanguard Real Estate Index Investor17,731,284 shares · 3.81% · Reported 2026-07-31
JPMorgan Chase & Co15,128,367 shares · 3.25% · Reported 2026-03-31
Vanguard MStar Total Stk Mkt Idx Invest14,836,072 shares · 3.18% · Reported 2026-07-31

View more holders (8)

Geode Capital Management, LLC13,933,628 shares · 2.99% · Reported 2026-03-31
Cohen & Steers Inc13,777,789 shares · 2.96% · Reported 2026-06-30
Vanguard 500 Index Investor12,231,150 shares · 2.62% · Reported 2026-07-31
FMR Inc11,317,048 shares · 2.43% · Reported 2026-03-31
Morgan Stanley - Brokerage Accounts9,583,923 shares · 2.06% · Reported 2026-03-31
Lazard Asset Management LLC8,403,123 shares · 1.80% · Reported 2026-06-30
Deutsche Bank AG7,769,353 shares · 1.67% · Reported 2026-03-31
Amvescap Plc.7,275,230 shares · 1.56% · Reported 2026-03-31

Earnings, Profitability & Valuation

Earnings & Revenue

AI Review

American Tower's financial results demonstrate steady operational strength underneath headline noise. Trailing twelve-month revenue reached $10.94 billion through mid-2026, with net income rebounding to $3.38 billion following prior impairment charges. This baseline reflects dependable multi-tenant leasing demand and double-digit revenue expansion at CoreSite data centers, which together countered customer churn. The underlying financial story confirms that 2026 represents an operational trough. Free cash flow generation reached $3.96 billion, comfortably covering the company's dividend obligations. As temporary customer cancellations roll off comparative figures, high operating margins on existing infrastructure will allow organic revenue growth to translate directly into expanding per-share cash earnings.

Revenue, Net Income, and Free Cash Flow

Revenue
Free cash flow
Net income

Annual reported financial results, converted using the statement's recorded USD conversion. Missing values are omitted. Values in USD.

Valuation

Historical P/E Ratio

Published P/E

Published valuation snapshots. Trailing four-quarter earnings where available; annual earnings otherwise. Non-positive earnings are omitted. Values in times earnings.

Profitability & Margins

AI Review

Operating profitability highlights the structural efficiency of the tower business model. Consolidated gross margins held firmly at 73.7% in 2025, while operating margins stood at 45.8%. Because adding extra antennas to an existing tower requires virtually no additional day-to-day operating expense, incremental customer leases generate near-total cash drop-through. This high operating leverage protects corporate profitability against inflationary cost pressures. Master lease agreements contain contractual annual rent escalators that automatically outpace routine ground-lease and site-maintenance inflation. As high-margin data center leasing scales and customer churn normalizes, underlying cash profit margins are primed to remain among the most resilient in the global infrastructure sector.

Profitability Margins

Gross margin
Operating margin
Net margin
Free cash flow margin

Annual gross, operating, net income and free cash flow divided by revenue for matching reporting dates. Values in percent.

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Reported Data Tables — chart preview

The following tables contain the same values as the financial charts above. Monetary values are USD; margins are percentages. Missing inputs are not estimated. Use is subject to the iPulse AI Terms of Service and applicable source rights.

Source: eodhd. Statement snapshots with chart transformations and ratios calculated by iPulse AI. Snapshot retrieved 2026-09-15.

Annual earnings and profitability
Period end	Revenue	Free cash flow	Net income	Gross margin	Operating margin	Net margin	Free cash flow margin
2016-12-31	5,785,668,000	2,021,099,000	956,425,000	69.1	32.03	16.53	34.93
2017-12-31	6,663,900,000	2,122,000,000	1,238,900,000	69.18	29.99	18.59	31.84
2018-12-31	7,440,100,000	2,835,100,000	1,236,400,000	70.73	25.6	16.62	38.11
2019-12-31	7,580,300,000	2,761,300,000	1,887,800,000	70.79	35.47	24.9	36.43
2020-12-31	8,041,500,000	2,849,700,000	1,690,600,000	72.3	35.91	21.02	35.44
2021-12-31	9,356,900,000	3,443,200,000	2,567,700,000	71.34	33.47	27.44	36.8
2022-12-31	9,645,400,000	1,822,600,000	1,765,800,000	73.36	28.39	18.31	18.9
2023-12-31	10,012,200,000	2,924,300,000	1,483,300,000	74.42	31.22	14.81	29.21
2024-12-31	10,127,200,000	3,700,500,000	2,255,000,000	74.58	44.6	22.27	36.54
2025-12-31	10,645,100,000	3,783,600,000	2,529,800,000	73.68	45.85	23.76	35.54

Published valuation snapshots
Period end	P/E (times earnings)	Earnings basis
2025-12-31	32.56	Trailing four quarters
2024-12-31	38.1	Trailing four quarters
2023-12-31	68.03	Trailing four quarters
2022-12-31	55.99	Annual net income
2021-12-31	52.07	Annual net income

Shares outstanding — chart values
Reporting date	Shares outstanding
2017-01-01	432,472,000
2018-01-01	444,304,000
2019-01-01	445,923,000
2020-01-01	446,347,000
2021-01-01	457,131,000
2022-01-01	466,696,000
2023-01-01	467,453,000
2024-01-01	468,418,000
2025-01-01	469,142,900
2026-01-01	466,578,000

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- Balance sheet AI review
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Dividends & Actions
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