American Tower Corporation AMT

169.03 1.77 1.06% as of 25 Sep
Market cap
$78.0B
P/E
23.2×
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American Tower Corporation (AMT) Free cash flow margin

American Tower Corporation's free cash flow margin over the twelve months to 30 June 2026 was 36.2%, up 0.7 percentage points from fiscal 2025 (35.5%). Over the past ten years it has ranged from 18.9% (fiscal 2022) to 38.1% (fiscal 2018); the current reading is higher than 64% of that period. That is above the Reit Specialty industry median of 31.1% and above the Real Estate sector median of 9.94%.

Free cash flow margin, annual

Annual

Period Free cash flow margin Change (points)
FY2025 35.5% (1.00)
FY2024 36.5% 7.33
FY2023 29.2% 10.31
FY2022 18.9% (17.90)
FY2021 36.8% 1.36
FY2020 35.4% (0.99)
FY2019 36.4% (1.68)
FY2018 38.1% 6.27
FY2017 31.8% (3.06)
FY2016 34.9% 4.76

Against its own ten years

Low 18.9% High 38.1%
Ten-year median 35.4%
Current reading's percentile 64

Free cash flow margin against peers

Company Free cash flow margin
CCI Crown Castle Inc. compare 57.8%
DLR Digital Realty Trust, Inc. compare 54.4%
SBAC SBA Communications Corporation compare 46.9%
GLPI Gaming and Leisure Properties, Inc. compare 37.9%
AMT American Tower Corporation 36.2%
LAMR Lamar Advertising Company compare 31.8%
WY Weyerhaeuser Company compare −2.06%
IRM Iron Mountain Incorporated compare −7.87%
EQIX Equinix, Inc. compare −22.8%
Reit Specialty industry median 31.1%
Real Estate sector median 9.94%
Market median 0.00%

What Free cash flow margin is

Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.

(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue

The full definition of Free cash flow margin →

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