gross profit bridgeinconsistent2019-12-31
Withheld: gross profit could not be reconciled with the rest of this filer’s statement.
Revenue
$10.64B
Fiscal year ended 2025-12-31Operating income
$4.85B
Fiscal year ended 2025-12-31Free cash flow
$3.78B
Fiscal year ended 2025-12-31AMERICAN TOWER CORP /MA/ (AMT) reported revenue of $10.64B for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from AMERICAN TOWER CORP /MA/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Real Estate Investment Trusts.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.64B | $10.13B | $10.01B | $9.65B | $9.36B | $8.04B | $7.58B | $7.44B | $6.66B | $5.79B |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $43.10M | $49.10M | $34.60M | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $6.63B | Unavailable |
| Operating income | $4.85B | $4.52B | $3.13B | $2.74B | $3.13B | $2.89B | $2.69B | $1.90B | $2.00B | $1.85B |
| Net income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $1.69B | $1.89B | $1.24B | $1.24B | $956.40M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 468.76M | shares 468.12M | shares 467.16M | shares 462.75M | shares 453.29M | shares 446.10M | shares 445.52M | shares 442.96M | shares 431.69M | shares 429.28M |
| Pretax income | $3.04B | $3.62B | $1.53B | $2.09B | $2.83B | $1.82B | $1.92B | $1.15B | $1.26B | $1.13B |
| Income tax expense | $415.70M | $366.30M | $90.80M | $112.80M | $261.80M | $129.60M | -$200.00K | -$110.10M | $30.70M | $155.50M |
| Diluted EPS | $5.40 | $4.82 | $3.18 | $3.82 | $5.66 | $3.79 | $4.24 | $2.77 | $2.67 | $1.98 |
| Selling, general & administrative | $940.70M | $933.40M | $946.00M | $902.10M | $811.60M | $778.70M | $730.40M | $733.20M | $637.00M | $543.40M |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.47B | $2.00B | $1.75B | $1.55B | $1.95B | $1.75B | $1.50B | $1.21B | $802.10M | $787.20M |
| Total assets | $63.19B | $61.08B | $66.03B | $67.19B | $69.89B | $47.23B | $42.80B | $33.01B | $33.21B | $30.88B |
| Current assets | $2.74B | $3.18B | $3.71B | $3.62B | $3.73B | $2.91B | $2.55B | $2.39B | $2.04B | $1.69B |
| Total liabilities | $52.84B | $51.43B | $55.16B | $54.79B | $60.82B | $42.45B | $36.21B | $26.11B | $25.26B | $22.81B |
| Current liabilities | $6.91B | $7.08B | $7.25B | $8.31B | $9.07B | $3.66B | $5.49B | $4.69B | $2.51B | $1.63B |
| Total equity incl. NCI | $10.36B | $9.65B | $10.87B | $12.41B | $9.07B | $4.57B | $5.49B | $5.90B | $6.83B | $6.98B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | $0 | $212.10M | $1.10B | $1.00B | $1.13B | $1.09B |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | $650.30M | $540.00M | $547.50M | $758.30M | $728.90M | $511.60M | $462.20M | $459.00M | $513.60M | $308.40M |
| Goodwill | $12.26B | $11.77B | $12.08B | $12.08B | $13.35B | $7.28B | $6.18B | $5.50B | $5.64B | $5.07B |
| Long-term debt | $33.83B | $32.81B | $35.73B | $34.16B | $38.69B | $28.50B | $21.13B | $18.41B | $19.43B | $18.29B |
| Accounts payable | $259.80M | $240.80M | $251.30M | $218.60M | $272.40M | $139.10M | $148.10M | $130.80M | $142.90M | $118.70M |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $5.46B | $5.29B | $4.72B | $3.70B | $4.82B | $3.88B | $3.75B | $3.75B | $2.93B | $2.70B |
| Capital expenditures | $1.68B | $1.59B | $1.80B | $1.87B | $1.38B | $1.03B | $991.30M | $913.20M | $803.60M | $682.50M |
| Investing cash flow | -$1.86B | $410.60M | -$1.70B | -$2.36B | -$20.69B | -$4.78B | -$3.99B | -$2.75B | -$2.80B | -$2.10B |
| Financing cash flow | -$4.21B | -$5.45B | -$3.10B | -$1.42B | $16.42B | $1.22B | $521.70M | -$607.70M | -$113.00M | -$99.30M |
| Net change in cash | -$503.00M | $14.80M | -$47.30M | -$202.60M | $481.90M | $283.40M | $273.10M | $350.00M | $18.40M | $473.60M |
| Stock-based compensation | $174.20M | $203.60M | $195.70M | $169.30M | $119.50M | $120.80M | $111.40M | $137.50M | $108.50M | $89.90M |
| Common dividends paid | $3.18B | $3.03B | $3.01B | $2.72B | $2.27B | $1.93B | $1.60B | $1.32B | $1.07B | $886.10M |
| Common share repurchases | $364.60M | $0 | $0 | $18.80M | $0 | $56.00M | $19.60M | $232.80M | $766.30M | $0 |
| Depreciation & amortization | $2.04B | $2.03B | $2.93B | $3.16B | $2.33B | $1.88B | $1.78B | $2.11B | $1.72B | $1.53B |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | $3.78B | $3.70B | $2.92B | $1.82B | $3.44B | $2.85B | $2.76B | $2.84B | $2.12B | $2.02B |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 99.5% | Unavailable |
| Operating margin | 45.5% | 44.6% | 31.2% | 28.4% | 33.5% | 35.9% | 35.5% | 25.6% | 30.0% | 32.0% |
| FCF margin | 35.5% | 36.5% | 29.2% | 18.9% | 36.8% | 35.4% | 36.4% | 38.1% | 31.8% | 34.9% |
| SBC / revenue | 1.6% | 2.0% | 2.0% | 1.8% | 1.3% | 1.5% | 1.5% | 1.8% | 1.6% | 1.6% |
| Current ratio | 0.40x | 0.45x | 0.51x | 0.44x | 0.41x | 0.79x | 0.47x | 0.51x | 0.81x | 1.04x |
| Revenue YoY growth | 5.1% | 1.1% | 3.8% | 3.1% | 16.4% | 6.1% | 1.9% | 11.6% | 15.2% | Unavailable |
| Net margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 16.6% | 18.6% | 16.5% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 15.8% | 15.7% | 18.0% | 19.4% | 14.7% | 12.8% | 13.1% | 12.3% | 12.1% | 11.8% |
| Long-term debt / equity | 3.27x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 13.7% | 10.1% | 5.9% | 5.4% | 9.3% | 7.1% | -0.0% | -9.5% | 2.4% | 13.8% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open AMT in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-07-28View SEC filing
10-Q · Filed 2026-04-28View SEC filing
10-K · Filed 2026-02-24View SEC filing
10-Q · Filed 2025-10-28View SEC filing
10-Q · Filed 2025-07-29View SEC filing
10-Q · Filed 2025-04-29View SEC filing
Reconciliation checks needing review
2 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.
gross profit bridgeinconsistent2018-12-31
Withheld: gross profit could not be reconciled with the rest of this filer’s statement.