AMT

Updated: Mar 12, 2026 11:30 AM

American Tower Corp

Market Cap: $87.71B P/S: 32x Ownership — Insider: 0.4% | Institutional: 95.6% | Retail: 4.0% REAL ESTATE REIT - SPECIALTY

American Tower Corporation (also referred to as American Tower or ATC) is an American real estate investment trust and an owner and operator of wireless and broadcast communications infrastructure in several countries worldwide and is headquartered in Boston, Massachusetts.

Revenue

Revenue, Profit & Income — explained by Jerry the Goat Farmer
Total RevenueEvery single dollar that wanders onto Jerry's farm. Cheese sales, milk money, goat yoga memberships, and that one weird guy who pays $50 to just watch the goats. Jerry doesn't ask questions.
Gross ProfitThe money left after feeding the goats but before reality sets in. Jerry feels rich for exactly 11 minutes.
Net IncomeWhat Jerry actually gets to keep after the Jerrynment, cousin Larry, the feed store, and his ex-wife's lawyer all take their cut. This number is often... humbling.
Using alias: revenuea -> totalRevenue [annual] [income]
Using alias: profita -> grossProfit [annual] [income]
Using alias: incomea -> netIncome [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        20/20 dates (100%)
  ✅ grossProfit                         20/20 dates (100%)
  ✅ netIncome                           20/20 dates (100%)

Plot for AMT (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -10.13B                   -5.06B                     0.00B                     5.06B                    10.13B
               |                         |                         |                         |                         |

  2005-12-31 |                                                    |  0.94B
  2006-12-31 |                                                     |  1.32B
  2007-12-31 |                                                     |  1.46B
  2008-12-31 |                                                     |  1.59B
  2009-12-31 |                                                     |  1.72B
  2010-12-31 |                                                     |  1.99B
  2011-12-31 |                                                     |  2.44B
  2012-12-31 |                                                     |  2.88B
  2013-12-31 |                                                     |  3.36B
  2014-12-31 |                                                     |  4.10B
  2015-12-31 |                                                     |  4.77B
  2016-12-31 |                                                     |  5.79B
  2017-12-31 |                                                     |  6.66B
  2018-12-31 |                                                     |  7.44B
  2019-12-31 |                                                     |  7.58B
  2020-12-31 |                                                     |  8.04B
  2021-12-31 |                                                     |  9.36B
  2022-12-31 |                                                     |  9.65B
  2023-12-31 |                                                     |  10.01B
  2024-12-31 |                                                     | 10.13B

               |                         |                         |                         |                         |
               -10.13B                   -5.06B                     0.00B                     5.06B                    10.13B

Costs

Operating Costs — explained by Jerry the Goat Farmer
Cost of Goods & Services SoldThe unglamorous stuff: hay, feed, vet bills for when Sergio the goat eats another iPhone. These goats don't feed themselves, and they definitely don't apologize.
Selling, General & AdministrativeThe "CHEESE HAPPENS" billboard on the highway, the accountant (cousin Larry, who definitely cheated in Monopoly as a kid), office supplies, and the therapy Jerry needs after dealing with cousin Larry.
Research & DevelopmentJerry's experimental ghost pepper goat cheese that made three customers cry. Also the goat treadmill. The goats refuse to use the goat treadmill.
Using alias: rnda -> researchAndDevelopment [annual] [income]
Using alias: sgaa -> sellingGeneralAndAdministrative [annual] [income]
Using alias: cogsa -> costofGoodsAndServicesSold [annual] [income]


Data Completeness:
------------------------------------------------------------
  ⚠️  researchAndDevelopment              15/20 dates (75%)
  ✅ sellingGeneralAndAdministrative     20/20 dates (100%)
  ✅ costofGoodsAndServicesSold          20/20 dates (100%)

Plot for AMT (in B)
  reports: annualReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00B                     0.67B                     1.34B                     2.01B                     2.68B
               |                         |                         |                         |                         |

  2005-12-31 |  0.32B ⊗
  2006-12-31 |  0.34B ⊗
  2007-12-31 |  0.36B ⊗
  2008-12-31 |  0.39B ⊗
  2009-12-31 |  0.42B
  2010-12-31 |  0.47B
  2011-12-31 |  0.62B
  2012-12-31 |  0.72B
  2013-12-31 |  0.86B
  2014-12-31 |  1.09B
  2015-12-31 |  1.31B
  2016-12-31 |  1.79B
  2017-12-31 |  2.05B
  2018-12-31 |  2.18B
  2019-12-31 |  2.21B
  2020-12-31 |  2.23B
  2021-12-31 |  2.68B
  2022-12-31 |  2.57B
  2023-12-31 |  2.56B
  2024-12-31 |  2.57B ⊗

               |                         |                         |                         |                         |
               0.00B                     0.67B                     1.34B                     2.01B                     2.68B

Cash

Cash, Debt & Cash Flow — explained by Jerry the Goat Farmer
Cash & Short-Term InvestmentsThe coffee can buried behind the barn, $47 in a savings account, and some cryptocurrency Jerry bought drunk in 2021. He's afraid to check on it.
Short/Long-Term DebtThe barn loan that'll follow Jerry to the grave (long-term) and the $200 he owes the feed store guy who's starting to give him looks (short-term).
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Using alias: casha -> cashAndShortTermInvestments [annual] [balance]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: paychecka -> operatingCashflow [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         20/20 dates (100%)
  ✅ shortLongTermDebtTotal              20/20 dates (100%)
  ✅ operatingCashflow                   20/20 dates (100%)

Plot for AMT (in B)
  reports: annualReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               0.00B                    13.00B                    26.00B                    39.01B                    52.01B
               |                         |                         |                         |                         |

  2005-12-31 |  3.61B
  2006-12-31 |  0.62B
  2007-12-31 |  4.29B
  2008-12-31 |  4.33B
  2009-12-31 |  4.21B
  2010-12-31 |  5.59B
  2011-12-31 |  7.24B
  2012-12-31 |  8.75B
  2013-12-31 |  14.48B
  2014-12-31 |  14.61B
  2015-12-31 |  17.12B
  2016-12-31 |  18.53B
  2017-12-31 |  20.21B
  2018-12-31 |  21.16B
  2019-12-31 |  31.06B
  2020-12-31 |  36.71B
  2021-12-31 |  52.01B
  2022-12-31 |  47.05B
  2023-12-31 |  46.31B
  2024-12-31 |  43.95B

               |                         |                         |                         |                         |
               0.00B                    13.00B                    26.00B                    39.01B                    52.01B

FCF

Free Cash Flow — explained by Jerry the Goat Farmer
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Capital ExpendituresBig, expensive purchases Jerry justifies at 2am: the industrial milking machine, new fencing, and a hot tub "for the goats" that somehow only Jerry uses.
Using alias: paychecka -> operatingCashflow [annual] [cashflow]
Using alias: capexa -> capitalExpenditures [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   20/20 dates (100%)
  ✅ capitalExpenditures                 20/20 dates (100%)

Plot for AMT (in B)
  reports: annualReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               0.00B                     1.32B                     2.65B                     3.97B                     5.29B
               |                         |                         |                         |                         |

  2005-12-31 |  0.40B
  2006-12-31 |  0.62B
  2007-12-31 |  0.69B
  2008-12-31 |  0.77B
  2009-12-31 |  0.84B
  2010-12-31 |  1.02B
  2011-12-31 |  1.17B
  2012-12-31 |  1.41B
  2013-12-31 |  1.60B
  2014-12-31 |  2.13B
  2015-12-31 |  2.18B
  2016-12-31 |  2.70B
  2017-12-31 |  2.93B
  2018-12-31 |  3.75B
  2019-12-31 |  3.75B
  2020-12-31 |  3.88B
  2021-12-31 |  4.82B
  2022-12-31 |  3.70B
  2023-12-31 |  4.72B
  2024-12-31 |  5.29B

               |                         |                         |                         |                         |
               0.00B                     1.32B                     2.65B                     3.97B                     5.29B

Assets

Assets, Liabilities & Equity — explained by Jerry the Goat Farmer
🐐 Assets = Liabilities + Equity

Translation: What Jerry owns = What Jerry owes + What's actually Jerry's

Or as Jerry mutters every April during tax season:
"Everything I have equals everything I owe plus whatever scraps are left for me, a humble goat man just trying to make cheese in this cruel world."
Total AssetsEverything Jerry owns: 12 acres of land, a barn that's "rustic" (rotting), 47 goats, Sergio (appraised at $800, priceless to Jerry), the cheese cave, and a 2004 Ford F-150 held together by duct tape and prayer.
Total LiabilitiesEverything Jerry owes: bank loans, the feed store tab, back taxes, and a moral debt to his neighbor for "borrowing" that tractor in 2019. They both know he's not returning it.
Total Shareholder EquityIf Jerry sold absolutely everything, paid off every debt, and finally returned that tractor... this is what he'd have left. His actual net worth. Some days it's a retirement fund. Other days it's "enough for a bus ticket and a fresh start."
Using alias: assetsa -> totalAssets [annual] [balance]
Using alias: liabila -> totalLiabilities [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         20/20 dates (100%)
  ✅ totalLiabilities                    20/20 dates (100%)
  ✅ totalShareholderEquity              20/20 dates (100%)

Plot for AMT (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               0.00B                    17.47B                    34.94B                    52.42B                    69.89B
               |                         |                         |                         |                         |

  2005-12-31 |  8.77B
  2006-12-31 |  8.61B
  2007-12-31 |  8.13B
  2008-12-31 |  8.21B
  2009-12-31 |  8.51B
  2010-12-31 |  10.37B
  2011-12-31 |  12.23B
  2012-12-31 |  14.09B
  2013-12-31 |  20.27B
  2014-12-31 |  21.33B
  2015-12-31 |  26.90B
  2016-12-31 |  30.88B
  2017-12-31 |  33.21B
  2018-12-31 |  33.01B
  2019-12-31 |  42.80B
  2020-12-31 |  47.23B
  2021-12-31 |  69.89B
  2022-12-31 |  67.19B
  2023-12-31 |  66.03B
  2024-12-31 |  61.08B

               |                         |                         |                         |                         |
               0.00B                    17.47B                    34.94B                    52.42B                    69.89B

Buffet

Using alias: incomea -> netIncome [annual] [income]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           20/20 dates (100%)
  ✅ shortLongTermDebtTotal              20/20 dates (100%)
  ✅ totalShareholderEquity              20/20 dates (100%)

Plot for AMT (in B)
  reports: annualReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -52.01B                   -26.00B                    0.00B                    26.00B                    52.01B
               |                         |                         |                         |                         |

  2005-12-31 |                                                    |  4.53B
  2006-12-31 |                                                     |  4.38B
  2007-12-31 |                                                     |  4.29B
  2008-12-31 |                                                     |  4.33B
  2009-12-31 |                                                     |  4.21B
  2010-12-31 |                                                     |  5.59B
  2011-12-31 |                                                     |  7.24B
  2012-12-31 |                                                     |  8.75B
  2013-12-31 |                                                     |  14.48B
  2014-12-31 |                                                     |  14.61B
  2015-12-31 |                                                     |  17.12B
  2016-12-31 |                                                     |  18.53B
  2017-12-31 |                                                     |  20.21B
  2018-12-31 |                                                     |  21.16B
  2019-12-31 |                                                     |  31.06B
  2020-12-31 |                                                     |  36.71B
  2021-12-31 |                                                     | 52.01B
  2022-12-31 |                                                     |  47.05B
  2023-12-31 |                                                     |  46.31B
  2024-12-31 |                                                     |  43.95B

               |                         |                         |                         |                         |
               -52.01B                   -26.00B                    0.00B                    26.00B                    52.01B

Revenue-q

Using alias: revenue -> totalRevenue [quarterly] [income]
Using alias: profit -> grossProfit [quarterly] [income]
Using alias: income -> netIncome [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        25/25 dates (100%)
  ✅ grossProfit                         25/25 dates (100%)
  ✅ netIncome                           25/25 dates (100%)

Plot for AMT (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -2.90B                    -1.45B                     0.00B                     1.45B                     2.90B
               |                         |                         |                         |                         |

  2019-09-30 |                                                     |  1.95B
  2019-12-31 |                                                     |  1.92B
  2020-03-31 |                                                     |  1.99B
  2020-06-30 |                                                     |  1.91B
  2020-09-30 |                                                     |  2.01B
  2020-12-31 |                                                     |  2.12B
  2021-03-31 |                                                     |  2.16B
  2021-06-30 |                                                     |  2.30B
  2021-09-30 |                                                     |  2.45B
  2021-12-31 |                                                     |  2.45B
  2022-03-31 |                                                     |  2.66B
  2022-06-30 |                                                     |  2.67B
  2022-09-30 |                                                     |  2.67B
  2022-12-31 |                                         |  2.71B
  2023-03-31 |                                                     |  2.77B
  2023-06-30 |                                                     |  2.77B
  2023-09-30 |                                                     |  2.52B
  2023-12-31 |                                                     |  2.79B
  2024-03-31 |                                                     |  2.83B
  2024-06-30 |                                                     | 2.90B
  2024-09-30 |                                       |  2.52B
  2024-12-31 |                                                     |  2.55B
  2025-03-31 |                                                     |  2.56B
  2025-06-30 |                                                     |  2.63B
  2025-09-30 |                                                     |  2.72B

               |                         |                         |                         |                         |
               -2.90B                    -1.45B                     0.00B                     1.45B                     2.90B

Costs-q

Using alias: rnd -> researchAndDevelopment [quarterly] [income]
Using alias: sga -> sellingGeneralAndAdministrative [quarterly] [income]
Using alias: cogs -> costofGoodsAndServicesSold [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ⚠️  SPARSE researchAndDevelopment              0/25 dates (0%)
  ✅ sellingGeneralAndAdministrative     25/25 dates (100%)
  ✅ costofGoodsAndServicesSold          25/25 dates (100%)

Plot for AMT (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00M                    209.12M                   418.25M                   627.38M                   836.50M
               |                         |                         |                         |                         |

  2019-09-30 |  559.90M ⊗
  2019-12-31 |  550.20M ⊗
  2020-03-31 |  552.00M ⊗
  2020-06-30 |  540.00M ⊗
  2020-09-30 |  562.60M ⊗
  2020-12-31 |  569.60M ⊗
  2021-03-31 |  574.30M ⊗
  2021-06-30 |  647.90M ⊗
  2021-09-30 |  724.30M ⊗
  2021-12-31 |  735.50M ⊗
  2022-03-31 |  799.40M ⊗
  2022-06-30 |  822.90M ⊗
  2022-09-30 |  836.50M ⊗
  2022-12-31 |  805.00M ⊗
  2023-03-31 |  806.10M ⊗
  2023-06-30 |  827.30M ⊗
  2023-09-30 |  638.00M ⊗
  2023-12-31 |  811.40M ⊗
  2024-03-31 |  788.30M ⊗
  2024-06-30 |  821.90M ⊗
  2024-09-30 |  651.80M ⊗
  2024-12-31 |  654.40M ⊗
  2025-03-31 |  634.50M ⊗
  2025-06-30 |  688.70M ⊗
  2025-09-30 |  676.00M ⊗

               |                         |                         |                         |                         |
               0.00M                    209.12M                   418.25M                   627.38M                   836.50M

Cash-q

Using alias: cash -> cashAndShortTermInvestments [quarterly] [balance]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         25/25 dates (100%)
  ✅ shortLongTermDebtTotal              25/25 dates (100%)
  ✅ operatingCashflow                   25/25 dates (100%)

Plot for AMT (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               0.00B                    13.06B                    26.11B                    39.17B                    52.22B
               |                         |                         |                         |                         |

  2019-09-30 |  28.41B
  2019-12-31 |  31.06B
  2020-03-31 |  31.19B
  2020-06-30 |  31.80B
  2020-09-30 |  31.69B
  2020-12-31 |  36.71B
  2021-03-31 |  36.70B
  2021-06-30 |  44.34B
  2021-09-30 |  42.14B
  2021-12-31 |  52.01B
  2022-03-31 |  52.22B
  2022-06-30 |  49.47B
  2022-09-30 |  46.66B
  2022-12-31 |  47.05B
  2023-03-31 |  46.91B
  2023-06-30 |  47.18B
  2023-09-30 |  46.82B
  2023-12-31 |  46.31B
  2024-03-31 |  47.84B
  2024-06-30 |  47.39B
  2024-09-30 |  44.78B
  2024-12-31 |  43.95B
  2025-03-31 |  44.38B
  2025-06-30 |  45.21B
  2025-09-30 |  45.01B

               |                         |                         |                         |                         |
               0.00B                    13.06B                    26.11B                    39.17B                    52.22B

FCF-q

Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]
Using alias: capex -> capitalExpenditures [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   25/25 dates (100%)
  ✅ capitalExpenditures                 25/25 dates (100%)

Plot for AMT (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               0.00B                     0.52B                     1.05B                     1.57B                     2.10B
               |                         |                         |                         |                         |

  2019-09-30 |  0.94B
  2019-12-31 |  0.99B
  2020-03-31 |  0.80B
  2020-06-30 |  0.99B
  2020-09-30 |  0.96B
  2020-12-31 |  1.13B
  2021-03-31 |  1.09B
  2021-06-30 |  0.95B
  2021-09-30 |  2.10B
  2021-12-31 |  0.68B
  2022-03-31 |  0.66B
  2022-06-30 |  0.92B
  2022-09-30 |  0.93B
  2022-12-31 |  1.19B
  2023-03-31 |  1.07B
  2023-06-30 |  1.21B
  2023-09-30 |  1.30B
  2023-12-31 |  1.14B
  2024-03-31 |  1.28B
  2024-06-30 |  1.34B
  2024-09-30 |  1.47B
  2024-12-31 |  1.20B
  2025-03-31 |  1.29B
  2025-06-30 |  1.28B
  2025-09-30 |  1.46B

               |                         |                         |                         |                         |
               0.00B                     0.52B                     1.05B                     1.57B                     2.10B

Assets-q

Using alias: assets -> totalAssets [quarterly] [balance]
Using alias: liabil -> totalLiabilities [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         25/25 dates (100%)
  ✅ totalLiabilities                    25/25 dates (100%)
  ✅ totalShareholderEquity              25/25 dates (100%)

Plot for AMT (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               0.00B                    17.47B                    34.94B                    52.42B                    69.89B
               |                         |                         |                         |                         |

  2019-09-30 |  39.31B
  2019-12-31 |  42.80B
  2020-03-31 |  40.79B
  2020-06-30 |  41.52B
  2020-09-30 |  41.46B
  2020-12-31 |  47.23B
  2021-03-31 |  46.94B
  2021-06-30 |  58.98B
  2021-09-30 |  60.53B
  2021-12-31 |  69.89B
  2022-03-31 |  69.76B
  2022-06-30 |  68.12B
  2022-09-30 |  66.51B
  2022-12-31 |  67.19B
  2023-03-31 |  66.82B
  2023-06-30 |  66.88B
  2023-09-30 |  65.65B
  2023-12-31 |  66.03B
  2024-03-31 |  66.68B
  2024-06-30 |  65.84B
  2024-09-30 |  62.82B
  2024-12-31 |  61.08B
  2025-03-31 |  62.06B
  2025-06-30 |  63.75B
  2025-09-30 |  63.89B

               |                         |                         |                         |                         |
               0.00B                    17.47B                    34.94B                    52.42B                    69.89B

Buffet-q

Using alias: income -> netIncome [quarterly] [income]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           25/25 dates (100%)
  ✅ shortLongTermDebtTotal              25/25 dates (100%)
  ✅ totalShareholderEquity              25/25 dates (100%)

Plot for AMT (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -52.22B                   -26.11B                    0.00B                    26.11B                    52.22B
               |                         |                         |                         |                         |

  2019-09-30 |                                                     |  28.41B
  2019-12-31 |                                                     |  31.06B
  2020-03-31 |                                                     |  31.19B
  2020-06-30 |                                                     |  31.80B
  2020-09-30 |                                                     |  31.69B
  2020-12-31 |                                                     |  36.71B
  2021-03-31 |                                                     |  36.70B
  2021-06-30 |                                                     |  44.34B
  2021-09-30 |                                                     |  42.14B
  2021-12-31 |                                                     | 52.01B
  2022-03-31 |                                                     | 52.22B
  2022-06-30 |                                                     |  49.47B
  2022-09-30 |                                                     |  46.66B
  2022-12-31 |                                                    |  47.05B
  2023-03-31 |                                                     |  46.91B
  2023-06-30 |                                                     |  47.18B
  2023-09-30 |                                                     |  46.82B
  2023-12-31 |                                                     |  46.31B
  2024-03-31 |                                                     |  47.84B
  2024-06-30 |                                                     |  47.39B
  2024-09-30 |                                                    |  44.78B
  2024-12-31 |                                                     |  43.95B
  2025-03-31 |                                                     |  44.38B
  2025-06-30 |                                                     |  45.21B
  2025-09-30 |                                                     |  45.01B

               |                         |                         |                         |                         |
               -52.22B                   -26.11B                    0.00B                    26.11B                    52.22B

Price History

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