American Tower Corporation (AMT) AI Stock Analysis
AMT AI stock analysis summary
AI ResearchAmerican Tower Corporation (AMT) is a global communications real estate investment trust operating approximately 219,000 communications sites. In FY2025, the company delivered revenue of $10.65B alongside free cash flow of $3.78B. With total debt of $44.98B and a forward dividend yield of 3.86%, AMT balances significant leverage against stable recurring cash generation.
- Market cap
- $86.33B
- Revenue (TTM)
- $10.94B
- P/E
- 25.5x fwd 24.6x
- 1Y return
- 0.7% S&P 500 16.8%
- Avg. target
- $215.83 16.5% vs last close
Bull case
- American Tower has generated consistent cash expansion, with free cash flow growing from $1.82B in FY2022 to $3.78B in FY2025.
- Operating profitability remains strong, as the company recorded an operating margin of 45.4% over the trailing twelve months, well above the 27.0% median of its S&P 500 Real Estate peers.
- Wall Street consensus remains positive, with 15 Strong Buy ratings and a mean price target of $215.83 representing 16.5% upside.
Bear case
- Leverage is elevated, with total debt of $44.98B resulting in a debt-to-equity ratio of 12.09 as of June 30, 2026.
- Short-term liquidity is constrained, indicated by a current ratio of 0.35 alongside cash and short-term investments of $1.76B.
- Long-term total return has lagged broader markets, with AMT posting a five-year return of -19.1% compared to an 83.0% return for the S&P 500 (SPY).
What American Tower does
American Tower Corporation operates as a global Real Estate Investment Trust specializing in the ownership, operation, and development of multitenant communications real estate. Its portfolio includes around 219,000 communications sites worldwide designed to support wireless infrastructure for telecommunications providers. These sites are strategically placed to enhance network coverage and capacity across diverse geographic regions. The company supplies infrastructure solutions enabling the transmission of voice, data, and multimedia content. Through continuous investment in technology and infrastructure development, American Tower supports growing digital connectivity requirements and broadens its global telecommunications footprint.
Growth and profitability
Between FY2021 and FY2025, American Tower generated a five-year revenue CAGR of 5.8%, with annual revenue increasing from $9.36B in FY2021 to $10.65B in FY2025. Revenue growth accelerated to 5.1% in FY2025, while gross margin stood at 73.7% and operating margin reached 45.8%. Net income rose from $1.48B in FY2023 to $2.53B in FY2025, producing EPS of $5.39. In the trailing twelve months ending June 30, 2026, revenue totaled $10.94B with an operating margin of 45.4% and net profit margin of 31.1%. In the latest quarter ended June 30, 2026, quarterly revenue grew 4.7% year-over-year, while quarterly earnings growth reached 138.5%.
Balance sheet and cash flow
As of June 30, 2026, American Tower held $1.76B in cash and short-term investments against $44.98B in total debt, resulting in net debt of $43.22B. Shareholders' equity was $3.72B, yielding a debt-to-equity ratio of 12.09 and a current ratio of 0.35. Total assets stood at $63.30B. In FY2025, operating cash flow reached $5.46B, supporting capital expenditures of $1.68B and generating free cash flow of $3.78B. The company deployed cash toward dividends paid of $3.16B and share buybacks of $364.6M.
Valuation and performance
At a last close of $185.27, American Tower trades at a trailing P/E of 25.5x and a forward P/E of 24.6x, compared to 30.6x and 30.4x for the median of its S&P 500 Real Estate peers. Its enterprise value of $122.79B represents an EV/EBITDA multiple of 16.6x, below the peer group median of 17.6x, while its price-to-sales ratio of 7.9x is above the peer median of 7.0x. Over the past year, AMT gained 0.7% compared to 16.8% for the S&P 500 (SPY), and over five years, the stock returned -19.1% against 83.0% for the index.
AMT dividend
American Tower pays an annualized forward dividend of $7.16 per share, representing a dividend yield of 3.86% and a payout ratio of 87.1%. Dividends are distributed on a quarterly frequency and have been paid for 16 consecutive years. Over the past five years, the dividend achieved an annualized growth rate of 8.5%. The last ex-dividend date was September 30, 2026.
What analysts expect
Wall Street coverage includes 15 Strong Buy, 7 Buy, and 3 Hold ratings, with 0 Sell ratings. The mean price target is $215.83, implying 16.5% upside over the last close of $185.27. For the fiscal year ending December 31, 2026, analysts estimate revenue of $11.01B and EPS of $6.98, reflecting 29.2% EPS growth. American Tower beat EPS estimates in each of the last 4 quarters. The next earnings date is October 27, 2026.
Key risks and what to watch
- Net debt of $43.22B exposes the business to refinancing requirements and interest costs on its $44.98B debt load.
- Dividend obligations require substantial liquidity, as the company paid $3.16B in dividends against $3.78B in free cash flow in FY2025.
- Revenue growth has been moderate, as indicated by a five-year revenue CAGR of 5.8% from FY2020 to FY2025 and 1.1% revenue growth in FY2024.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this AMT AI stock analysis
This page is an AI-written research summary of American Tower Corporation (AMT). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: AMT income statement, AMT balance sheet, AMT key metrics, AMT analyst forecast, AMT chart. See the AMT stock overview for the latest quote and news.
AMT AI stock analysis FAQ
What is American Tower's dividend yield and payout schedule?
American Tower has a forward dividend yield of 3.86%, with an annual dividend of $7.16 paid on a quarterly schedule. The company has paid dividends for 16 consecutive years and carries an 87.1% payout ratio.
How much debt does American Tower carry?
As of June 30, 2026, American Tower had $44.98B in total debt and $1.76B in cash and short-term investments, resulting in net debt of $43.22B. Its debt-to-equity ratio was 12.09.
What is the consensus analyst price target for AMT?
The mean price target from analysts is $215.83, which is 16.5% above the last closing price of $185.27. The stock holds 15 Strong Buy, 7 Buy, and 3 Hold ratings.
How has AMT stock performed relative to the S&P 500?
Over the past year, AMT delivered a 0.7% return compared to 16.8% for the S&P 500 (SPY). Over five years, AMT returned -19.1% while the S&P 500 gained 83.0%.