American Tower Corp. (AMT)

Name: American Tower Corp. (AMT): results, filings decoded, planned insider sales, 13F holders, insiders, Congress and short interest
Creator: GreekSoup
License: https://creativecommons.org/licenses/by/4.0/

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American Tower Corp. (AMT) reported revenue of $2.7 billion for Q2 FY2026, the quarter ended 30 June 2026, up 4.7% on the same quarter a year earlier. Net income was $868 million, up 136.5% on the year, and diluted earnings per share $1.86. The figures are the company's own, from the 10-Q it filed with the SEC on 28 July 2026.

Revenue$2.7 billionup 4.7%

Net income$868 millionup 136.5%

Diluted EPS$1.86

QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE91.4%

ROCE13.7%

Operating margin44.8%

Net margin31.1%

FCF margin36.2%

Interest cover3.52

Debt to equity8.59

Cash conversion1.70

Share count, 1 year-0.5%

Sales CAGR, 3 years3.3%

Profit CAGR, 3 years12.7%

EPS, TTM$7.28

At the close of 21 September 2026

Price$174.60

Market cap$81.4 billion

Stock P/E23.98

Price to book21.87

EV / EBITDA16.00

Dividend yield3.9%

Market cap / sales7.44

52-week high$194.55

52-week low$162.11

Price, 1 year-9.7%

Price CAGR, 3 years1.7%

Price CAGR, 5 years-9.9%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on the one borrowings figure American Tower Corp. files, which has finance leases inside it; operating leases are a separate line. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

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50-day average 200-day average Volume

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on AMT

Filings	33 in twelve months: 23 current reports (8-K), about 10 other events; 6 officer or director change; 4 material agreement; 4 new financial obligation; 4 results of operations
Planned insider sales	9 Form 144 notices in twelve months, $195.8 million; latest 29 July 2026
Options tape	put/call 0.85 by open interest on 23 September 2026; the straddle prices a 4.9% move to 16 October 2026
Holders	12 of the followed funds hold it; largest Geode Capital Management; 3 Schedule 13D or 13G filings in twelve months
Insider trading	20 sales and 3 purchases on Form 4 in twelve months
Congress	2 House trades disclosed in six months
Short interest	5.9 million shares short, 3.06 days to cover at 31 August 2026
Documents	the 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	2,819	2,456	2,834	2,900	2,522	2,548	2,563	2,627	2,717	2,738	2,738	2,749
SG&A	232	252	257	234	228	214	238	234	233	236	257	234
Operating income	659	613	1,237	1,284	1,139	1,080	1,254	1,198	1,233	1,161	1,239	1,269
Operating margin	23%	25%	44%	44%	45%	42%	49%	46%	45%	42%	45%	46%
Interest expense	359	351	367	365	357	316	325	343	347	344	347	354
Pre-tax income	643	35.2	1,031	1,028	550	1,015	618	512	950	965	1,018	1,009
Tax rate	10%	62%	11%	12%	22%	1%	19%	26%	4%	13%	14%	12%
Net income	587	84.9	917	900	-792	1,230	489	367	853	821	860	868
Net margin	21%	3%	32%	31%	-31%	48%	19%	14%	31%	30%	31%	32%
Diluted EPS	$1.26	$0.18	$1.96	$1.92	-$1.69	$2.62	$1.04	$0.78	$1.82	$1.76	$1.84	$1.86
Operating cash flow	1,301	1,142	1,284	1,338	1,469	1,199	1,295	1,282	1,460	1,428	1,401	1,487
Capital expenditure	391	525	397	325	425	443	331	305	466	579	450	321
Free cash flow	910	617	887	1,013	1,045	756	964	977	994	848	951	1,166
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	n/a	n/a	176	26.7
Dividends paid	732	755	802	756	757	757	757	796	796	832	793	834
Shares outstanding	466m	466m	467m	467m	467m	467m	468m	468m	468m	466m	466m	466m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

	FY2014 †	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022 †	FY2023 †	FY2024	FY2025	TTM
Revenue	4,100	4,772	5,786	6,664	7,440	7,580	8,042	9,357	9,645	10,012	10,127	10,645	10,942
Cost of revenue	38.1	33.4	27.7	34.6	49.1	43.1	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Gross profit	4,062	4,738	5,758	6,629	7,391	7,537	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Gross margin	99.1%	99.3%	99.5%	99.5%	99.3%	99.4%	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Selling, general and administrative	447	498	543	637	733	730	779	812	902	946	933	941	961
Operating income	1,487	1,613	1,853	1,998	1,905	2,688	2,888	3,132	2,739	3,126	4,516	4,846	4,902
Operating margin	36.3%	33.8%	32.0%	30.0%	25.6%	35.5%	35.9%	33.5%	28.4%	31.2%	44.6%	45.5%	44.8%
Interest expense	580	n/a	n/a	750	826	814	794	871	1,136	1,398	1,404	1,359	1,393
Pre-tax income	866	830	1,126	1,256	1,155	1,916	1,821	2,829	2,086	1,529	3,625	3,044	3,942
Income tax	62.5	158	156	30.7	-110	-0.2	130	262	113	90.8	366	416	427
Effective tax rate	7.2%	19.0%	13.8%	2.4%	-9.5%	-0.0%	7.1%	9.3%	5.4%	5.9%	10.1%	13.7%	10.8%
Net income	825	685	956	1,239	1,236	1,888	1,691	2,568	1,766	1,483	2,255	2,530	3,401
Net margin	20.1%	14.4%	16.5%	18.6%	16.6%	24.9%	21.0%	27.4%	18.3%	14.8%	22.3%	23.8%	31.1%
Diluted EPS	$2.00	$1.41	$1.98	$2.67	$2.77	$4.24	$3.79	$5.66	$3.82	$3.18	$4.82	$5.40	$7.28
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed. FY2024: the four quarters as first filed in the 10-Qs do not add to the year as filed in the 10-K, because the company later restated them (a spin-off or discontinued operations).

Cash flow and capital returned

	FY2014 †	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022 †	FY2023 †	FY2024	FY2025	TTM
Operating cash flow	n/a	n/a	2,702	2,926	3,748	3,753	3,881	4,820	3,696	4,722	5,290	5,464	5,775
Capital expenditure	974	729	683	804	913	991	1,032	1,377	1,874	1,798	1,590	1,680	1,815
Free cash flow	n/a	n/a	2,019	2,122	2,835	2,761	2,850	3,443	1,823	2,924	3,700	3,784	3,960
Free cash flow margin	n/a	n/a	34.9%	31.8%	38.1%	36.4%	35.4%	36.8%	18.9%	29.2%	36.5%	35.5%	36.2%
Depreciation and amortisation	1,004	1,285	1,526	1,716	2,111	1,778	1,882	2,333	3,165	2,928	2,029	2,042	2,071
Share-based compensation	80.2	90.5	89.9	108	138	111	121	120	169	196	204	174	166
Buybacks	0.0	0.0	0.0	766	233	19.6	56.0	0.0	18.8	0.0	0.0	365	n/a
Dividends paid	405	711	886	1,073	1,324	1,603	1,928	2,271	2,715	3,007	3,027	3,181	3,255
Dividend per share	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	$4.30	$6.31	$6.56	$6.72	$6.89
Diluted shares, weighted	400m	423m	429m	432m	443m	446m	446m	453m	463m	467m	468m	469m	466m
Shares outstanding at period end	397m	424m	427m	429m	441m	443m	444m	456m	466m	466m	467m	466m	466m
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

	FY2014 †	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022 †	FY2023 †	FY2024	FY2025	TTM
Total assets	21,264	26,904	30,879	33,214	33,010	42,802	47,234	69,888	67,194	66,028	61,077	63,190	63,300
Cash and equivalents	313	321	787	802	1,209	1,501	1,746	1,950	1,549	1,754	2,000	1,475	1,762
Receivables	199	227	308	514	459	462	512	729	758	548	540	650	651
Goodwill	4,032	4,092	5,071	5,638	5,502	6,178	7,283	13,350	12,075	12,084	11,768	12,256	12,182
Total debt, as filed	14,540	17,119	18,533	20,205	21,160	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Long-term debt	14,609	17,119	18,533	20,205	21,160	1.9	n/a	43,498	38,902	n/a	n/a	n/a	n/a
Long-term debt including finance leases	13,643	17,069	18,295	19,430	18,405	21,127	28,498	38,686	34,156	35,734	32,809	33,832	31,963
Operating lease liabilities	n/a	n/a	n/a	n/a	0.0	6,510	6,884	8,042	7,592	6,815	6,876	7,159	7,146
Finance lease liabilities	n/a	n/a	n/a	n/a	n/a	24.0	23.0	24.9	23.1	17.2	14.0	n/a	n/a
Shareholders' equity	3,954	6,652	6,764	6,242	5,336	5,055	4,094	5,081	5,572	4,198	3,382	3,652	3,720
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

	10 years	5 years	3 years	TTM
Sales growth, compounded	8.4%	5.8%	3.3%	6.6%
Profit growth, compounded	14.0%	8.4%	12.7%	163.1%
Return on equity, average	38.9%	50.7%	57.1%	69.3%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Real Estate Investment Trusts

Company	Market cap	P/E	ROE	Op. margin	Sales growth TTM	Debt to equity	Div. yield
Welltower Inc. WELL	$164.0 billion	115.80	3.2%	-2.8%	37.6%	0.41	1.2%
Prologis, Inc. PLD	$126.6 billion	34.21	6.9%	52.4%	6.7%	0.65	0.0%
Equinix Inc. EQIX	$104.3 billion	68.03	10.7%	21.8%	9.6%	1.38	1.9%
American Tower Corp. AMT	$81.4 billion	23.98	91.4%	44.8%	6.6%	8.59	3.9%
Simon Property Group Inc. SPG	$66.4 billion	14.46	104.1%	47.4%	15.0%	6.47	4.2%
Digital Realty Trust, Inc. DLR	$65.0 billion	49.42	5.9%	11.5%	12.6%	0.92	n/a
Realty Income Corp. O	$53.6 billion	41.35	3.2%	20.1%	10.9%	0.63	5.7%
Public Storage PSA	$52.1 billion	28.34	22.2%	39.0%	3.0%	1.11	4.0%
Ventas, Inc. VTR	$44.6 billion	161.17	1.8%	3.3%	21.5%	0.87	2.2%
Iron Mountain Inc. IRM	$34.8 billion	82.90	n/a	18.8%	17.4%	n/a	2.9%
Crown Castle Inc. CCI	$31.2 billion	n/a	n/a	n/a	n/a	n/a	5.8%
Extra Space Storage Inc. EXR	$29.0 billion	30.41	7.2%	40.9%	4.2%	1.88	4.7%
Vici Properties Inc. VICI	$26.5 billion	9.32	9.5%	n/a	4.4%	0.58	7.5%
Vivmark Residential VMRK	$22.8 billion	19.48	11.2%	57.7%	4.3%	0.58	3.5%
SBA Communications Corp. SBAC	$18.7 billion	19.00	n/a	47.6%	5.4%	n/a	n/a
Essex Property Trust, Inc. ESS	$17.4 billion	42.27	7.8%	32.5%	4.7%	1.20	3.8%
Host Hotels & Resorts, Inc. HST	$15.3 billion	14.87	16.1%	14.6%	4.9%	0.19	4.3%
Weyerhaeuser Co. WY	$15.1 billion	31.36	5.0%	12.3%	-2.6%	0.56	4.0%
Kimco Realty Corp. KIM	$15.1 billion	25.01	5.9%	36.0%	4.4%	0.81	4.5%
Healthpeak Properties, Inc. DOC	$14.3 billion	59.20	3.1%	5.1%	5.5%	1.28	5.9%
MID America Apartment Communities Inc. MAA	$13.8 billion	36.02	7.0%	62.0%	0.8%	1.02	5.1%
Regency Centers Corp. REG	$13.4 billion	n/a	7.9%	72.3%	7.8%	0.73	3.9%
Udr, Inc. UDR	$11.0 billion	23.05	14.9%	38.5%	2.1%	1.72	5.1%
Bxp, Inc. BXP	$10.2 billion	34.48	5.8%	28.3%	1.9%	0.57	4.8%
Camden Property Trust CPT	$9.9 billion	32.72	8.6%	n/a	56.8%	1.28	4.3%
Federal Realty Investment Trust FRT	$9.6 billion	19.17	15.3%	53.6%	7.4%	0.41	4.0%
Alexandria Real Estate Equities, Inc. ARE	$9.3 billion	n/a	-6.6%	-69.8%	-8.4%	0.82	8.8%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

Filing	Period	Filed	Where
10-Q	30 June 2026	28 July 2026	EDGAR
10-Q	31 March 2026	28 April 2026	EDGAR
10-K	31 December 2025	24 February 2026	EDGAR
10-Q	30 September 2025	28 October 2025	EDGAR
10-Q	30 June 2025	29 July 2025	EDGAR
10-Q	31 March 2025	29 April 2025	EDGAR
10-K	31 December 2024	25 February 2025	EDGAR
10-Q	30 September 2024	29 October 2024	EDGAR
10-Q	30 June 2024	30 July 2024	EDGAR
10-Q	31 March 2024	30 April 2024	EDGAR

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