American Tower Corporation (REI (AMT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

American Tower Corporation (REI

NYSE•Real Estate•REIT - Specialty

$175.58-0.81(<0.01%)After hours

Market Cap

$81.81B

P/E

23.3x

P/S

7.5x

P/B

8.0x

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.

How this company scores

GoodMetricSide Score: 76/100

Strongest: Profitability (25/25); weakest: Balance Sheet & Red Flags (6/25).

Profitability25/25

Growth22/25

Balance Sheet & Red Flags6/25

Cash & Earnings Quality23/25

Strengths

Strong marginsHigh ROERising earningsCash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 23.3x5y range 23.3x – 127.6x

Currently below its 20-quarter median.

P/S · 7.5x5y range 6.9x – 14.2x

Currently near its 20-quarter median.

P/B · 8.0x5y range 6.8x – 14.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Leverage Risk

Red Flag

D/E ratio is 3.1 — heavily leveraged and vulnerable to rising rates or cash flow dips.

Price & Volume

Market Cap $81.81B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $10.94B
Q. Revenue: $2.75B
TTM EBITDA: $4.90B
TTM Op. Income: $4.90B
Q. Op. Income: $1.27B
TTM Net Income: $3.52B
Q. Net Income: $887.50M
EPS: $1.86
Shares Out.: $465.94M

$10.94B in TTM revenue grew 14.2% YoY, reaching $2.75B last quarter. TTM EBITDA of $4.90B and TTM operating income of $4.90B show growth is flowing through to the bottom line. TTM net income of $3.52B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 4 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 46.2%
Op. Margin: 46.2%
Net Margin: 32.3%

Op. margin of 46.2% is up 0.6% YoY — cost efficiency is improving. Net margin at 32.3% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 23.3x
P/S Ratio: 7.5x
P/B Ratio: 8.0x

At 23.3x P/E, the stock trades within typical market levels. P/S of 7.5x and P/B of 8.0x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $63.30B
Cash: $1.76B
Long-Term Debt: $31.96B
Book Value: $10.25B
D/E Ratio: 3.1
Debt/EBITDA: 25.2

With $63.30B in assets and $31.96B in long-term debt, D/E is 3.1and book value is $10.25B — elevated leverage, meaning significant financial risk in a downturn. Over the past year, debt/equity is down 7% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.49B
TTM Free Cash Flow: $3.96B
FCF Margin: 36.2%
FCF / Net Income: 1.1

TTM FCF of $3.96B on $1.49B in operating cash flow. The FCF / Net Income ratio of 1.1x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 6% — an improving trend.