American Tower Corporation (AMT) vs Crown Castle Inc. (CCI)

American Tower Corporation and Crown Castle Inc. are both Reit Specialty companies. American Tower Corporation is the larger, with a market value of $78.0B against $28.7B — 2.7× the size. American Tower Corporation trades at the lower P/E: 23.2× against 34.3×. American Tower Corporation grew revenue faster over the last twelve months: 6.65% against −4.56%. American Tower Corporation has the higher net margin (31.1% vs 20.7%) and the lower return on invested capital (6.73% vs 9.03%). Both pay a dividend; Crown Castle Inc. yields more (5.82% vs 3.31%). Across the 22 metrics below, American Tower Corporation leads on 12 and Crown Castle Inc. on 10.

Valuation

Metric AMT CCI Reit Specialty median
P/E 23.20 34.26 26.27
P/S 7.19 7.06 5.86
P/B 7.67 n/m 2.19
Price to free cash flow 19.87 12.21 14.62
EV/EBITDA 16.22 17.21 16.22
EV/Sales 10.42 11.14 8.93
Earnings yield 4.31% 2.92% 3.43%
Free cash flow yield 5.03% 8.19% 5.37%

Profitability

Metric AMT CCI Reit Specialty median
Gross margin 73.77% 73.73% 67.43%
Operating margin 44.80% 47.66% 21.38%
Net margin 31.08% 20.72% 16.14%
Free cash flow margin 36.19% 57.82% 31.07%
Return on equity 32.81% (37.06%) 4.76%
Return on assets 5.35% 3.24% 3.29%
Return on invested capital 6.73% 9.03% 4.19%

Growth

Metric AMT CCI Reit Specialty median
Revenue growth (TTM) 6.65% (4.56%) 5.36%
EPS growth (last fiscal year) 12.03% 111.25% —
Revenue growth, 5-year CAGR 5.77% (6.10%) 6.70%
Net income growth, 5-year CAGR 8.39% (14.97%) 0.00%

Health

Metric AMT CCI Reit Specialty median
Debt to equity 3.63 (5.58) 0.62
Current ratio 0.52 0.52 0.70
Net debt to EBITDA 5.13 8.60 4.47

Dividend

Metric AMT CCI Reit Specialty median
Dividend yield 3.31% 5.82% 3.88%
Payout ratio 3.00 1.57 1.14

Size

Metric AMT CCI Reit Specialty median
Market cap 77.97b 28.72b 8.48b

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