# American Tower Corporation (REIT) (AMT) fundamentals

Data as of 2026-11-04. NYSE, United States. Sector: Real Estate / Specialty REITs. Price $187.29, market value $86.9 billion.

## Valuation
- **P/E (trailing): 26.4×** (5-yr avg 44.8×, 3-yr avg 43.4×). American Tower Corporation (REIT) trades at 26.4× trailing earnings, well below its own five-year average of 44.8×: cheap by its own standards. The Real Estate median in the September 2026 study was 25.2×. Forward P/E is 26.7×, higher than trailing, so analysts expect earnings to fall.
- **PEG: 2.22**. A PEG of 2.22 means the P/E is high relative to expected earnings growth; the price already assumes a lot.
- **Price / sales: 14.5×**. Each dollar of revenue is priced at 14.5×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 24.7×**. The shares trade at 24.7× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 12.7×**. Enterprise value is 12.7× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 4.6%** (5-yr avg 3.5%). Free cash flow equals 4.6% of the market value, above its five-year average of 3.5%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 3.8%**. The inverse of the P/E: 3.8% of the price is earned each year.

## Profitability
- **Operating margin: 82.7%**. 82.7% of revenue is left after running the business, an exceptional level.
- **Net margin: 280.9%**. 280.9% of each dollar of sales reaches the bottom line.
- **Return on equity: 72.0%**. A 72.0% return on equity is extremely high; check whether buybacks or debt have shrunk the equity base, which flatters the ratio.
- **Return on invested capital: 70.1%**. Return on all capital, debt included, is 70.1%: comfortably above what that capital costs.
- **Return on assets: 5.4%**. Each dollar of assets produces 5.4% of profit.

## Growth
- **Revenue growth (1 yr): 20.8%** (3-yr 3.6%/yr, 5-yr 13.6%/yr). Revenue grew 20.8% over the last year, against 13.6% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 12.0%** (3-yr 12.2%/yr, 5-yr 7.3%/yr). Earnings per share rose 12.0%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 27.6%/yr**. Free cash flow has compounded at 27.6% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.93**. Debt is 0.93 times equity, moderate leverage.
- **Net debt / EBITDA: 0.3×**. It would take 0.3 years of operating earnings to repay net borrowings, within the comfortable range.
- **Current ratio: 0.40** (quick 0.40). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 1.26**. A Z-score of 1.26 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.82%** ($7.07 per share, trailing). American Tower Corporation (REIT) yields 3.82%, an income-level yield.
- **Payout ratio: 121%**. The dividend exceeds earnings (121% payout), which is rarely sustainable outside REITs and one-off years.
- **Consecutive years of increases: 15**. 15 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 8.5%/yr** (1-yr 4.9%). The dividend has grown 8.5% a year over five years.

## Analyst view
- **Analyst consensus: buy** (23 analysts). 23 analysts cover American Tower Corporation (REIT); the consensus is buy, with an average price target of $215.74 (+15% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 8.3%** (YTD 9.4%, 3-mo 8.8%). The shares are up 8.3% over twelve months including dividends.
- **From 52-week high: -7.5%** (17.0% above the low). Trading 8% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 62**. An RSI of 62 is neutral.
- **Beta (1 yr): -0.08** (volatility 28%). Beta of -0.08 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=AMT · Page: https://foliofundamentals.com/stocks/amt

Not investment advice.