Not investment advice. FilingSight is an automated analytical research tool, not a registered investment advisor. Ratings and scores are quantitative analytical classifications, not buy or sell recommendations. Nothing here is personalized to your circumstances. Investing involves risk of loss — consult a licensed professional. See full disclosures.
Create a free account to read 3 full reports each month — plus a 14-day Pro trial. Get started →
American Tower Corp.
AMTReal EstateGenerated Jul 5, 2026, 08:52 PM UTC
AMT (American Tower Corp.) analytical snapshot. Revenue grew +3.8% YoY to $10.01B. Net margin at 0.00% (contracting ▼). Return on equity 0.00%, ROA 0.00%, ROIC 92.41%. Market cap $77.35B at $166.03 per share. Trailing P/E 52.21, P/S 7.73, P/B 21.96. EV/Operating income ≈ 36.68 (EV $114.65B). Risk: Elevated. Macro: Risk-on · Supportive. Composite analytical score -39 (data confidence 83%). Descriptive analytics from public filings — not investment advice.
Market cap
$77.35B
465.89M shares
Price
$166.03
NYQ
P/E (ttm)
52.21
Revenue (FY)
$10.01B
YoY +3.8%
Net margin
0.00%
▼ 0.00pp
Free cash flow
$2.92B
29.21% margin
Risk level
Elevated
Free SEC analysis
— computed from SEC filings, free to readFree previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score -25Deteriorating
80% conf
Revenue grew +3.8% YoY to $10.01B. Net margin at 0.00% (contracting ▼). Return on equity 0.00%, ROA 0.00%, ROIC 92.41%.
- Revenue grew +3.8% YoY to $10.01B.
- Net margin at 0.00% (contracting ▼).
- Return on equity 0.00%, ROA 0.00%, ROIC 92.41%.
- Gross margin 0.00%, operating margin 31.22%.
- Free cash flow margin 29.21% ($2.92B).
- Debt/equity 11.04, current ratio 0.30, net debt $37.29B.
- Asset turnover 0.16 — capital efficiency.
Revenue (FY)
$10.01B
YoY +3.8%
Net margin
0.00%
▼ 0.00pp
ROE
0.00%
ROA 0.00%
ROIC
92.41%
EPS (diluted)
$3.18
FY2025
Free cash flow
$2.92B
29.21% margin
Debt / equity
11.04
Cash $1.61B
Current ratio
0.30
Equity $3.52B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2016 | — | — | — | — | — | — | 12.40 |
| 2017 | — | — | — | — | — | — | 0.00 |
| 2018 | — | — | — | — | — | — | 0.00 |
| 2019 | $6.66B | — | 0.00 | 29.99 | 18.59 | $2.12B | 23.22 |
| 2020 | $7.44B | +11.6% | 0.00 | 25.60 | 16.62 | $2.84B | 24.46 |
| 2021 | $7.58B | +1.9% | 0.00 | 35.47 | 0.00 | $2.76B | 0.00 |
| 2022 | $8.04B | +6.1% | 0.00 | 35.91 | 0.00 | $2.85B | 0.00 |
| 2023 | $9.36B | +16.4% | 0.00 | 33.47 | 0.00 | $3.44B | 0.00 |
| 2024 | $9.65B | +3.1% | 0.00 | 28.39 | 0.00 | $1.82B | 0.00 |
| 2025 | $10.01B | +3.8% | 0.00 | 31.22 | 0.00 | $2.92B | 0.00 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Mar 31, 2025 | $2.56B | -9.6% | — | — |
| Jun 30, 2025 | $5.19B | -9.5% | +102.5% | — |
| Jun 30, 2025 | $2.63B | -54.2% | -49.4% | — |
| Sep 30, 2025 | $7.91B | +4.3% | +201.0% | — |
| Sep 30, 2025 | $2.72B | -64.1% | -65.6% | — |
| Mar 31, 2026 | $2.74B | +6.8% | +0.7% | — |
Revenue (annual, SEC 10-K)
2016: 0
2017: 0
2018: 0
2019: 6,664
2020: 7,440
2021: 7,580
2022: 8,042
2023: 9,357
2024: 9,645
2025: 10,012
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Profitability trends (%)
GrossOperatingNet
Free cash flow (annual)
2016: 0
2017: 0
2018: 0
2019: 2,122
2020: 2,835
2021: 2,761
2022: 2,850
2023: 3,443
2024: 1,823
2025: 2,924
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Sources:SEC EDGAR — Company Facts (XBRL)
Free previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 20Improving
80% conf
Latest annual report (10-K) filed Feb 24, 2026. Latest quarterly report (10-Q) filed Apr 28, 2026. 31 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 24, 2026.
- Latest quarterly report (10-Q) filed Apr 28, 2026.
- 31 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference American Tower Corp.; broad institutional reporting.
- Recent filers include THURSTON, SPRINGER, MILLER, HERD & TITAK, INC., Foresight Group Ltd Liability Partnership, Allen Investment Management LLC.
- 20 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 24, 2026
Annual report
Latest 10-Q
Apr 28, 2026
8-K (recent)
31
Insider net
—
0B/0S
13F filers
10k+
Activist 13D
0
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| THURSTON, SPRINGER, MILLER, HERD & TITAK, INC. | 13F-HR | May 14, 2024 |
| Foresight Group Ltd Liability Partnership | 13F-HR | Feb 15, 2024 |
| Allen Investment Management LLC | 13F-HR | Aug 11, 2006 |
| Allen Investment Management LLC | 13F-HR | Nov 9, 2006 |
| Allen Investment Management LLC | 13F-HR | Feb 14, 2007 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| Jun 4, 2026 | 8-K | 8-K |
| Jun 2, 2026 | 8-K | 8-K |
| May 27, 2026 | 8-K | 8-K |
| May 21, 2026 | 8-K | 8-K |
| May 19, 2026 | 8-K | 8-K |
| May 7, 2026 | 8-K | 8-K |
| Apr 28, 2026 | 8-K | 8-K |
| Mar 10, 2026 | 8-K | 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -43Deteriorating
66% conf
3 risk signal(s), 2 positive signal(s), 1 watch item(s) detected from XBRL filing diff analysis. Strong cash conversion (OCF > NI) combined with growing deferred revenue provides high forward visibility. The business model appears to generate sustainable, recurring cash flows — a positive structural indicator.
- Going concern doubt: The term "going concern" appears in 16 recent filing(s) (vs 3 in the prior period). This risk language is ongoing.
- Material weakness in internal controls: The term "material weakness" appears in 34 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
- Restatement of financial statements: The term "restate" "financial statements" appears in 31 recent filing(s) (vs 3 in the prior period). This risk language is ongoing.
- Operating cash flow exceeds net income: OCF is 3.82x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- Deferred revenue growing — future revenue visibility: Deferred revenue grew +16.3% to $245.4M, providing forward revenue visibility. This is a positive leading indicator for subscription or contract-based businesses.
- NEW: Off-balance sheet arrangements: Off-balance sheet arrangements appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: Strong cash conversion (OCF > NI) combined with growing deferred revenue provides high forward visibility. The business model appears to generate sustainable, recurring cash flows — a positive structural indicator.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 1 new risk-language term(s) detected in filing text: Off-balance sheet arrangements.
- Ongoing high-severity risk language: Going concern doubt, Material weakness in internal controls, Restatement of financial statements.
Revenue
$10.01B
+3.8% YoY
Operating income
$3.13B
+14.1% YoY
Net income
$1.24B
-0.2% YoY
Operating cash flow
$4.72B
+27.8% YoY
Capex
$1.80B
-4.0% YoY
Total assets
$61.08B
-7.5% YoY
Total liabilities
$51.43B
-6.8% YoY
Long-term debt
$38.90B
-10.6% YoY
Filing quality score
70/100
stable
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $9.65B | $10.01B | $366.8M | +3.8% |
| Operating income | $2.74B | $3.13B | $386.9M | +14.1% |
| Net income | $1.24B | $1.24B | $-2.5M | -0.2% |
| Operating cash flow | $3.70B | $4.72B | $1.03B | +27.8% |
| Capex | $1.87B | $1.80B | $-75.5M | -4.0% |
| Total assets | $66.03B | $61.08B | $-4.95B | -7.5% |
| Total liabilities | $55.16B | $51.43B | $-3.73B | -6.8% |
| Long-term debt | $43.50B | $38.90B | $-4.60B | -10.6% |
| Cash & equivalents | $1.55B | $1.75B | $204.8M | +13.2% |
| Stockholders equity | $4.20B | $3.38B | $-816.0M | -19.4% |
| Accounts receivable | $547.5M | $540.0M | $-7.5M | -1.4% |
| SG&A expense | $902.1M | $946.0M | $43.9M | +4.9% |
| Interest expense | $793.5M | $870.9M | $77.4M | +9.8% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Removed | AllowanceForDoubtfulAccountsReceivableCurrent, AmortizationOfFinancingCostsAndDiscounts, AssetImpairmentCharges, AssetRetirementObligationAccretionExpense, AssetRetirementObligationForeignCurrencyTranslationGainLoss, AssetRetirementObligationLiabilitiesIncurred, AssetRetirementObligationLiabilitiesSettled, AssetRetirementObligationRevisionOfEstimate, BusinessCombinationAcquisitionRelatedCosts, BusinessCombinationIntegrationRelatedCosts |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Going concern doubt | high | 16 | 3 | Ongoing |
| Material weakness in internal controls | high | 34 | 2 | Ongoing |
| Restatement of financial statements | high | 31 | 3 | Ongoing |
| Impairment charge | medium | 55 | 4 | Ongoing |
| Restructuring | medium | 125 | 7 | Ongoing |
| Off-balance sheet arrangements | medium | 14 | 0 | NEW |
| Related party transactions | low | 92 | 11 | Ongoing |
Filing signal breakdown
Red flags: 3
Positive: 2
Watch: 1
Red flags
Positive
Watch
Unlock the rest
- ProValuationMarket cap $77.35B at $166.03 per share.
- ProPrice & TechnicalsPrice $166.03 — downtrend (below 200-DMA); 1-month momentum negative.
- ProMacro & RatesMarket regime: Risk-on · Supportive.
- ProRisk ScorecardComposite risk: Elevated.
This content is for Pro subscribers
Unlock the full breakdown from all analysts — valuation (DCF & Graham), price & technicals, macro, risk scorecard, and 13F/13D ownership flow — plus your research workspace.
3 sections free · 4 Pro sections locked · composite -39
Macro exposure
Rate-sensitive · High sensitivityMacro regime: Risk-on · Supportive. American Tower Corp. is a rate-sensitive name (high macro sensitivity) — a supportive backdrop, though defensives lag risk-on tapes.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
16.59
Fed funds
3.63%
CPI YoY
+4.2%
Analytical read
deterministic previewLatest annual report (10-K) filed Feb 24, 2026..
Risk
Elevated
Macro regime
Risk-on · Supportive
Macro exposure
Neutral
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Rate-sensitive groupHow AMT stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Capital One Financial COF | 23 | Neutral |
| Chubb Ltd. CB | 23 | Neutral |
| U.S. Bancorp USB | 17 | Neutral |
| JPMorgan Chase & Co. JPM | 16 | Neutral |
| Prologis Inc. PLD | 14 | Neutral |
| Simon Property Group SPG | 13 | Neutral |
| American Express Co. AXP | 11 | Neutral |
| Bank of America Corp. BAC | 11 | Neutral |
| Visa Inc. V | 8 | Neutral |
| Mastercard Inc. MA | 8 | Neutral |
| Public Storage PSA | 8 | Neutral |
| Dominion Energy D | 6 | Neutral |
| Charles Schwab Corp. SCHW | 6 | Neutral |
| CME Group Inc. CME | 6 | Neutral |
| PNC Financial Services PNC | 4 | Neutral |
| Realty Income Corp. O | 4 | Neutral |
| Travelers Cos. TRV | 2 | Neutral |
| Duke Energy Corp. DUK | 0 | Neutral |
| Bank of New York Mellon BK | 0 | Neutral |
| Marsh & McLennan MMC | 0 | Neutral |
| Equity Residential EQR | 0 | Neutral |
| Wells Fargo & Co. WFC | -1 | Neutral |
| Welltower Inc. WELL | -1 | Neutral |
| Exelon Corp. EXC | -3 | Neutral |
| NextEra Energy NEE | -4 | Neutral |
| Xcel Energy XEL | -5 | Neutral |
| American International Group AIG | -5 | Neutral |
| Truist Financial TFC | -5 | Neutral |
| Digital Realty Trust DLR | -6 | Neutral |
| Allstate Corp. ALL | -7 | Neutral |
| S&P Global SPGI | -8 | Neutral |
| American Water Works AWK | -9 | Neutral |
| Goldman Sachs Group GS | -10 | Neutral |
| Citigroup Inc. C | -11 | Neutral |
| Moody's Corp. MCO | -13 | Neutral |
| Morgan Stanley MS | -13 | Neutral |
| MetLife Inc. MET | -13 | Neutral |
| Southern Company SO | -15 | Neutral |
| BlackRock Inc. BLK | -15 | Neutral |
| Equinix Inc. EQIX | -16 | Neutral |
| American Electric Power AEP | -18 | Neutral |
| Crown Castle Inc. CCI | -18 | Neutral |
| American Tower Corp. AMT● you | -39 | Neutral |