American Tower (AMT) FY2015 results: revenue $4.8 billion, up 16.4% on the year
American Tower Corp. (AMT) reported revenue of $4.8 billion for fiscal 2015, the year ended 31 December 2015, up 16.4% on the year before. Net income was $685 million, down 17.0%, and diluted earnings per share $1.41. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$4.8 billion
+16.4% on the year
FY2008FY2015
Operating margin
33.8%
36.3% a year earlier
FY2008FY2015
Net income
$685 million
-17.0% on the year
FY2008FY2015
Diluted EPS
$1.41
-29.5% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
4,772
4,100
3,361
+16.4%
Cost of revenue
1,309
1,094
860
+19.6%
Gross profit
3,463
3,006
2,502
+15.2%
Gross margin
72.6%
73.3%
74.4%
Selling, general and administrative
498
447
416
+11.5%
Operating income
1,613
1,487
1,214
+8.5%
Operating margin
33.8%
36.3%
36.1%
Interest expense
n/a
580
458
Pre-tax income
830
866
542
-4.1%
Income tax
158
62.5
59.5
+152.7%
Effective tax rate
19.0%
7.2%
11.0%
Net income
685
825
551
-17.0%
Net margin
14.4%
20.1%
16.4%
Diluted EPS
$1.41
$2.00
$1.38
-29.5%
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
2,167
2,135
1,599
+1.5%
Capital expenditure
729
974
725
-25.2%
Free cash flow
1,438
1,160
875
+24.0%
Free cash flow margin
30.1%
28.3%
26.0%
Depreciation and amortisation
1,285
1,004
800
+28.0%
Share-based compensation
90.5
80.2
68.1
+13.0%
Buybacks
0.0
0.0
145
Dividends paid
711
405
435
+75.7%
Diluted shares, weighted
423m
400m
399m
+5.7%
Shares outstanding at period end
424m
397m
395m
+6.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
6,652
3,954
3,534
+68.2%
Non-controlling interest
61.1
99.8
55.9
-38.7%
Redeemable equity
0.0
n/a
n/a
Debt
17,119
14,540
14,500
+17.7%
Other liabilities
3,072
2,670
2,124
+15.1%
Total liabilities and equity
26,904
21,264
20,214
+26.5%
Fixed assets
9,866
7,590
7,178
+30.0%
Goodwill
4,092
4,032
3,855
+1.5%
Intangible assets
9,838
6,824
6,570
+44.2%
Investments
0.0
6.3
18.6
Cash and equivalents
321
313
294
+2.3%
Receivables
227
199
151
+14.4%
Other assets
2,560
2,298
2,148
+11.4%
Total assets
26,904
21,264
20,214
+26.5%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.