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AMT

American Tower Corp

US$161.06-1.61% (-US$2.63)
Day's range
US$160.94 – US$164.79
Day's volume
US$419m
52-week range
US$160.38 – US$190.23

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AMT in numbers

Market cap
US$75bn
P/B
20.18
Dividend yield (12m)
4.39%
Net debt/EBITDA
0.50

The 12-month dividend yield of AMT is 4.39%, above its 5-year average of 2.95%.

AMT price history

02/10/202501/10/2026
Compare with

AMT risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return-6.35%+0.48%-32.81%
Volatility (annualised)21.27%25.41%26.34%
Largest drawdown-13.48%-24.92%-41.40%
Positive months7/1220/3631/60

How much did investing in AMT return?

US$1,000.00 invested on 01/09/2021 would be worth US$725.48 today.

Value today in AMT
US$725.48
Return over the period
-27.45%
Return per year
-6.22%
In the S&P 500
US$1,776.31

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

AMT fundamentals

Valuation

  • P/E
    —
  • P/B
    20.18
  • EV/EBITDA
    11.26
  • EV/EBIT
    16.02
  • EV/Revenue
    87.88
  • P/EBIT
    15.31
  • P/S
    84.00
  • P/OCF
    13.00
  • P/FCF
    18.95
  • Earnings yield
    6.24%
  • PEG ratio
    —
  • Earnings per share
    —
  • Book value per share
    US$7.98

Debt

  • Net debt
    US$3.5bn
  • Net debt/EBITDA
    0.50
  • Net debt/Equity
    0.93
  • Debt/Equity
    1.41
  • Current ratio
    0.35
  • Quick ratio
    —
  • Cash ratio
    0.20

Efficiency

  • Gross margin
    —
  • EBITDA margin
    780.55%
  • Operating margin
    548.69%
  • Net margin
    —
  • Asset turnover
    0.01

Profitability

  • ROE
    —
  • ROA
    —
  • ROIC
    60.85%
  • Payout
    —

Growth

  • Revenue CAGR (5 years)
    8.96%
  • Earnings CAGR (5 years)
    —
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is AMT's fair price?

Two classic value formulas, with today's numbers. The current price is US$161.06.

Graham's fair price
—
AMT's earnings per share and book value per share are not available, so the formula cannot be calculated.

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$101.03
37.27% below the price

US$6.06 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

AMT indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E—————59.0053.9256.44
P/B22.4025.3523.9817.7026.2424.3720.1313.08
EV/EBITDA12.1613.3616.8517.2124.8820.7123.1122.35
Dividend yield3.83%3.58%2.92%2.69%1.72%1.93%1.57%1.90%
Earnings per share—————US$3.80US$4.26US$2.80
Book value per shareUS$7.84US$7.24US$9.00US$11.97US$11.15US$9.21US$11.41US$12.10
ROE—————41.30%37.34%23.17%
ROIC75.18%79.99%53.34%30.34%36.91%85.50%41.47%7.53%
Gross margin——————91.82%90.01%
EBITDA margin735.91%844.99%810.12%702.21%761.94%962.24%847.27%817.38%
Net margin—————341.05%358.08%251.66%
Net debt/EBITDA0.280.260.220.500.48-0.200.324.97

AMT financial statements

Line202520242023202220212020
Net revenueUS$935.9mUS$774.6mUS$747.3mUS$840.7mUS$717.2mUS$495.7m
Cost of sales——————
Gross profit——————
EBITDAUS$6.9bnUS$6.5bnUS$6.1bnUS$5.9bnUS$5.5bnUS$4.8bn
EBITUS$4.8bnUS$4.5bnUS$3.1bnUS$2.7bnUS$3.1bnUS$2.9bn
Net finance result-US$1.8bn-US$891.7m-US$1.6bn-US$652.6m-US$302.6m-US$1.1bn
Profit before taxUS$3bnUS$3.6bnUS$1.5bnUS$2.1bnUS$2.8bnUS$1.8bn
Income tax-US$415.7m-US$366.3m-US$90.8m-US$112.8m-US$261.8m-US$129.6m
Net income—————US$1.7bn

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does AMT pay dividends?

Announced payments
TypeLast day to ownPaymentPer share
Dividend29/09/202620/10/2026US$1.79

Dividend yield per year

  • 1.75%2017
  • 1.90%2018
  • 1.57%2019
  • 1.93%2020
  • 1.72%2021
  • 2.69%2022
  • 2.92%2023
  • 3.58%2024
  • 3.83%2025
  • 3.28%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend11/06/202613/07/2026US$1.79
Dividend13/04/202628/04/2026US$1.79
Dividend26/12/202502/02/2026US$1.70
Dividend29/09/202520/10/2025US$1.70
Dividend12/06/202511/07/2025US$1.70
Dividend10/04/202528/04/2025US$1.70
Dividend26/12/202403/02/2025US$1.62
Dividend08/10/202425/10/2024US$1.62
Dividend13/06/202412/07/2024US$1.62
Dividend10/04/202426/04/2024US$1.62
Dividend26/12/202301/02/2024US$1.70
Dividend09/10/202327/10/2023US$1.62
See all 39 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend14/06/202310/07/2023US$1.57
Dividend12/04/202328/04/2023US$1.56
Dividend26/12/202202/02/2023US$1.56
Dividend06/10/202226/10/2022US$1.47
Dividend15/06/202208/07/2022US$1.43
Dividend11/04/202229/04/2022US$1.40
Dividend22/12/202114/01/2022US$1.39
Dividend24/09/202115/10/2021US$1.31
Dividend16/06/202109/07/2021US$1.27
Dividend09/04/202129/04/2021US$1.24
Dividend23/12/202002/02/2021US$1.21
Dividend24/09/202016/10/2020US$1.14
Dividend17/06/202010/07/2020US$1.10
Dividend10/04/202029/04/2020US$1.08
Dividend25/12/201914/01/2020US$1.01
Dividend25/09/201917/10/2019US$0.95
Dividend17/06/201912/07/2019US$0.92
Dividend09/04/201926/04/2019US$0.90
Dividend25/12/201814/01/2019US$0.84
Dividend26/09/201817/10/2018US$0.79
Dividend15/06/201813/07/2018US$0.77
Dividend09/04/201827/04/2018US$0.75
Dividend26/12/201716/01/2018US$0.70
Dividend27/09/201717/10/2017US$0.66
Dividend14/06/201714/07/2017US$0.64
Dividend07/04/201728/04/2017US$0.62
Dividend22/12/201613/01/2017US$0.58

About American Tower

Sector
Finance, insurance and real estate

Questions about AMT

How much is AMT today?

AMT is at US$161.06 (-1.61% on the day), last traded on 01/10/2026.

How much did AMT pay in dividends in 2025?

AMT paid US$6.72 per share in 2025, a dividend yield of 3.83%.

When is the next AMT dividend?

The next announced payment is US$1.79 per share on 20/10/2026.

How much did AMT return in 12 months?

AMT returned -6.35% in 12 months, with annualised volatility of 21.27% and a largest drawdown of -13.48%.