Valuation, from the filing
| Public float | $103.40B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $221.85 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / revenue | 9.7× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 10.0× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
67.6× earnings today, against a median of 50.1× across 5 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2020-06-30 | $114.30B | 67.6× | |
| 2019-06-30 | $89.90B | 47.6× | |
| 2018-06-30 | $63.10B | 51.0× | |
| 2017-06-30 | $56.30B | 45.4× | |
| 2016-06-30 | $47.90B | 50.1× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Real Estate Investment Trusts filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Effective tax rate | 13.7% | 89th | |
| Long-term debt / equity | 3.27x | 87th | |
| CapEx / revenue | 15.8% | 75th | |
| Operating margin | 45.5% | 70th | |
| Current ratio | 0.40x | 31th | |
| FCF margin | 35.5% | 67th | |
| Revenue YoY growth | 5.1% | 62th | |
| SBC / revenue | 1.6% | 48th |
AMERICAN TOWER CORP /MA/ (AMT) reported revenue of $8.49B for the fiscal year ended 2026-09-30. This page shows 1 annual period 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 | 2026-09-30 |
|---|---|
| Revenue | $8.49B |
| Cost of revenue | Unavailable |
| Gross profit | Unavailable |
| Operating income | $4.94B |
| Net income | Unavailable |
| Research & development | Unavailable |
| Weighted-average diluted shares | Unavailable |
| Pretax income | $3.89B |
| Income tax expense | $507.10M |
| Diluted EPS | Unavailable |
| Selling, general & administrative | $955.90M |
| General & administrative | Unavailable |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-09-30 |
|---|---|
| Cash & equivalents | $1.87B |
| Total assets | $62.98B |
| Current assets | $3.15B |
| Total liabilities | $53.21B |
| Current liabilities | $8.93B |
| Total equity incl. NCI | $9.77B |
| Temporary (mezzanine) equity | Unavailable |
| Inventory | Unavailable |
| Accounts receivable | $622.20M |
| Goodwill | $12.13B |
| Long-term debt | $32.22B |
| Accounts payable | $209.90M |
Cash flow
| Metric | 2026-09-30 |
|---|---|
| Operating cash flow | $5.71B |
| Capital expenditures | $1.75B |
| Investing cash flow | -$1.84B |
| Financing cash flow | -$3.98B |
| Net change in cash | -$93.50M |
| Stock-based compensation | $155.70M |
| Common dividends paid | $3.26B |
| Common share repurchases | $867.60M |
| Depreciation & amortization | $2.07B |
Derived
| Metric | 2026-09-30 |
|---|---|
| Free cash flow | $3.96B |
| Gross margin | Unavailable |
| Operating margin | 58.1% |
| FCF margin | 46.6% |
| SBC / revenue | 1.8% |
| Current ratio | 0.35x |
| Revenue YoY growth | -18.8% |
| Net margin | Unavailable |
| R&D / revenue | Unavailable |
| CapEx / revenue | 20.6% |
| Long-term debt / equity | 3.30x |
| Effective tax rate | 13.0% |
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
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.