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

$187.29-1.01(-0.01%)After hours

Market Cap

$86.78B

P/E

25.6x

P/S

7.9x

P/B

8.9x

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: 74/100

Strongest: Cash & Earnings Quality (23/25); weakest: Balance Sheet & Red Flags (8/25).

Profitability22/25

Growth21/25

Balance Sheet & Red Flags8/25

Cash & Earnings Quality23/25

Strengths

Strong marginsHigh ROECash-backed earningsConsistent free cash flow

Valuation vs. 5-year range

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

P/E · 25.6x5y range 22.4x – 127.6x

Currently below its 20-quarter median.

P/S · 7.9x5y range 6.9x – 14.2x

Currently near its 20-quarter median.

P/B · 8.9x5y range 6.8x – 14.6x

Currently near its 20-quarter median.

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 3.3 — heavily leveraged and vulnerable to rising rates or cash flow dips.

Price & Volume

Market Cap $86.78B

Metrics at a Glance

as of September 2026

Revenue & Profit

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

TTM Revenue: $11.01B
Q. Revenue: $2.79B
TTM EBITDA: $4.94B
TTM Op. Income: $4.94B
Q. Op. Income: $1.27B
TTM Net Income: $3.38B
Q. Net Income: $780.80M
EPS: $1.65
Shares Out.: $465.32M

$11.01B in TTM revenue grew 12.6% YoY, reaching $2.79B last quarter. TTM EBITDA of $4.94B and TTM operating income of $4.94B show growth is flowing through to the bottom line. TTM net income of $3.38B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 5 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 45.6%
Op. Margin: 45.6%
Net Margin: 28.0%

Op. margin of 45.6% is up 0.2% YoY — cost efficiency is improving. Net margin at 28.0% Over the past year, operating margin is up 0% — a weakening trend.

Price Ratios

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

P/E Ratio: 25.6x
P/S Ratio: 7.9x
P/B Ratio: 8.9x

At 25.6x P/E, the stock trades within typical market levels. P/S of 7.9x and P/B of 8.9x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 15% — a weakening trend.

Assets & Liabilities

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

Total Assets: $62.98B
Cash: $1.87B
Long-Term Debt: $32.22B
Book Value: $9.77B
D/E Ratio: 3.3
Debt/EBITDA: 25.4

With $62.98B in assets and $32.22B in long-term debt, D/E is 3.3and book value is $9.77B — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

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

Op. Cash Flow: $1.39B
TTM Free Cash Flow: $3.96B
FCF Margin: 36.0%
FCF / Net Income: 1.2

TTM FCF of $3.96B on $1.39B in operating cash flow. The FCF / Net Income ratio of 1.2x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.