American Tower Corporation
AMT Real Estate Reit Specialty
American Tower Corporation’s revenue for fiscal 2025 (year ended December 2025) was $10.6 billion, up 5.11% from fiscal 2024. In the quarter to June 2026, revenue grew 4.65%, EPS grew 138.5%, free cash flow grew 19.4% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for ten consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.
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American Tower Corporation (AMT) Operating margin
American Tower Corporation's operating margin over the twelve months to 30 June 2026 was 44.8%, down 0.7 percentage points from fiscal 2025 (45.5%). Over the past ten years it has ranged from 25.6% (fiscal 2018) to 45.5% (fiscal 2025) — the current reading is the highest in ten years. That is above the Reit Specialty industry median of 21.4% and above the Real Estate sector median of 18.8%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 45.5% | 0.92 |
| FY2024 | 44.6% | 13.38 |
| FY2023 | 31.2% | 2.83 |
| FY2022 | 28.4% | (5.08) |
| FY2021 | 33.5% | (2.44) |
| FY2020 | 35.9% | 0.44 |
| FY2019 | 35.5% | 9.87 |
| FY2018 | 25.6% | (4.39) |
| FY2017 | 30.0% | (2.04) |
| FY2016 | 32.0% | (1.77) |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Jun 2026 | 46.2% | 0.88 |
| Mar 2026 | 45.3% | 2.87 |
| Dec 2025 | 42.4% | (2.99) |
| Sep 2025 | 45.4% | (0.20) |
| 42 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| GLPI Gaming and Leisure Properties, Inc. compare | 82.6% |
| CCI Crown Castle Inc. compare | 47.7% |
| SBAC SBA Communications Corporation compare | 47.7% |
| AMT American Tower Corporation | 44.8% |
| LAMR Lamar Advertising Company compare | 31.8% |
| EQIX Equinix, Inc. compare | 21.8% |
| IRM Iron Mountain Incorporated compare | 18.8% |
| WY Weyerhaeuser Company compare | 12.3% |
| DLR Digital Realty Trust, Inc. compare | 0.79% |
| Reit Specialty industry median | 21.4% |
| Real Estate sector median | 18.8% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on AMT
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement