American TowerAMTRevenue: is the business selling more than it used to?
$936M+21% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Revenue reached $936M in 2025, compounding +4% a year since 2022 though the pace has cooled. The trailing twelve months are already running at $10.8B, ahead of the last full year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTNet income: how much of that revenue becomes profit?
$2.6B+15% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $2.6B in 2025, compounding +16% a year over three years. Earnings per share moved +62% over the last twelve months. Trailing twelve-month profit stands at $3.0B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTHow fast is it growing, year by year?
+20.8%revenue growth, FY 2025
→Revenue grew +21% in 2025 against a five-year average of +15%. Earnings grew more slowly (+15%), so costs are absorbing part of the growth.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTRevenue per share: is your slice growing as fast as the company?
$2.00revenue per share, FY 2025
◌ 2026 = trailing twelve months to the latest filed quarter (2026-03-31), not a full fiscal year
→Revenue per share reached $2.00 in 2025, compounding +3% a year - in line with AMT's own +4%, so the share count is not distorting your slice.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTMargins: of every $1 of sales, how much survives each cost layer?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-03-31), not a full fiscal year
→Operating margin widened 192 points to 518% since 2022. After everything, 281 cents of each sales dollar reaches net profit. AMT doesn't tag a gross-profit line in its filings, so the chart starts at operating margin.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTWhat does it earn on the money it uses?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-03-31), not a full fiscal year
→ROE of 85% sits well above ROCE of 9%. A meaningful share of the shareholder return is manufactured with leverage rather than operations.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTWhat has the market paid for AMT over time?
27.4xP/E today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→At 27.4x earnings, the market is paying 31% less than AMT's own 11-year median of 39.5x. Pessimism is priced in - the question is whether it is deserved. Today's multiple is the lowest in the charted history.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTCould it handle its debt if things went wrong?
◌ 2026 = the latest balance sheet (2026-03-31), not a fiscal year-end
→Debt of $37.3B sits against $1.6B of cash, or 10.6x shareholders' equity. Earnings cover interest 3.5 times - adequate, with less room than it looks in a downturn.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTIs the company's own capital growing?
→The company's own capital shrank from $4.2B in 2023 to $3.5B (-16%). Buybacks or losses are drawing the buffer down - the distinction matters.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTHow much goes back, and how much leaks out as stock comp?
→Shareholders received $365M in buybacks and $3.2B in dividends in 2025. Stock compensation issued $174M of new shares in the same year, offsetting 5% of that.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTHow fast is your ownership being diluted - or concentrated?
→The share count grew 0.1% in 2025, averaging 0.4% a year over three years. Your slice of the company shrinks by that much each year unless earnings grow faster.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTIs the dividend cheque growing?
→The dividend per share reached $6.79 in 2025, compounding +9% a year since 2020.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTCan it afford the dividend?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-03-31), not a full fiscal year
→The dividend consumed 121% of profit and 84% of free cash flow in 2025. That is a thin cushion: a bad year would put the payment under real pressure.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTDoes AMT earn more on its capital than that capital costs?
→AMT earns 72.0% on the capital it employs, well above the 10% most investors treat as the cost of capital. It was 30.4% in 2022, so the trend is up, and the pace is picking up. That is the highest in AMT's filed history.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTAMT has issued or retired shares - did shareholders end up better off?
→AMT issued +17% more shares from 2011 to 2025, but FFO per share still rose +324%. The dilution bought more growth than it cost existing holders.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTWhat does AMT really earn on its properties?
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→AMT generated $3.7B of funds from operations in 2025, growing +5% a year over three years. FFO adds back depreciation because a REIT's buildings do not really wear out the way the accounts assume. Per share that is $7.95, +324% since 2011 - the number REIT investors actually compare.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31
American TowerAMTAre the people running it buying or selling?
→Insiders bought $2M and sold $183M on the open market, a net sale of $181M. A further 40 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-03-31