American Tower (AMT): analysis in plain words
Is American Tower cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
American Tower (AMT) is listed on the NYSE and we classify it in real estate. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against American Tower according to those figures, and the questions people ask most about the stock. No buy or sell tips.
American Tower (AMT) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $194.86 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 27.4x | Price over earnings per share |
| Revenue growth | +2.5% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 30.1% | Profit for every 100 of sales |
| Net debt / EBITDA | 6.1x | Years of operating profit to repay debt |
| Dividend yield | 3.82% | Annual dividend over price |
| Market cap | $90.4 billion | What the stock market values it at |
The American Tower figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any AMT figure that is not available shows as N/A: we do not estimate it.
How American Tower makes money
American Tower is a REIT that leases space on its cell towers to wireless carriers. It reports property segments by region, with U.S. and Canada the largest, followed by Latin America, Europe, and Africa and Asia-Pacific, plus a data center segment built around CoreSite and a small services business.
Over the last 12 months, American Tower brought in revenue of $11.0 billion. For every 100 it sells, American Tower keeps 73.5 after the direct cost of what it sells (gross margin) and 45.6 after all operating costs (operating margin).
American Tower against its sector
To know whether a American Tower figure is high or low you have to put it next to similar companies. This table compares American Tower with the median of the 9 real estate companies Fintols covers, with data as of November 4, 2026.
| Figure | American Tower | real estate median |
|---|---|---|
| P/E | 27.4x | 28.9x (9) |
| Revenue growth | +2.5% | +10.4% (9) |
| Net margin | 30.1% | 37.7% (9) |
| Dividend yield | 3.82% | 3.60% (9) |
| Net debt / EBITDA | 6.1x | 5.5x (9) |
In short, against the typical real estate company, American Tower grows more slowly and earns a thinner margin. By size, American Tower ranks number 4 of 7 real estate companies quoted in USD on Fintols.
The bull case for American Tower
What works in favour of American Tower, according to its figures as of November 4, 2026:
- American Tower earns 33.0% a year on its shareholders' money (return on equity).
- For income seekers, American Tower pays a dividend yielding 3.82% at today's price, using 100% of its profit to fund it.
- American Tower keeps 30.1 of every 100 it sells as net profit, against 37.7 for the median real estate company: a margin like that leaves money to invest, buy back shares or pay dividends.
The main risk for American Tower
Debt is heavy: American Tower carries net debt equal to 6.1x its annual EBITDA. With high interest rates or a weak year, interest payments eat into what it can invest or pay out.
And, like the rest of real estate, American Tower is exposed to interest rates, which raise its borrowing costs and lower property values, and vacant space.
Frequently asked questions about American Tower
Is it a good time to buy American Tower stock?
Fintols does not tell you whether to buy or sell American Tower, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, American Tower stock trades at $194.86, 4% below its 52-week high ($202.50) and 22% above its low ($160.06). Its P/E is 27.4x against a real estate median of 28.9x, and 27.8x on the earnings analysts expect over the next 12 months. With American Tower, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does American Tower pay a dividend?
Yes. As of November 4, 2026, American Tower pays $7.16 per share a year, which at today's price is a yield of 3.82%. It uses 100% of its profit to pay it. The real estate median on Fintols is 3.60%.
Is American Tower stock expensive?
It depends on what you compare it with. On P/E, American Tower trades at 27.4x its last 12 months of earnings: in line with the real estate median (28.9x). Including its debt, American Tower is valued at 19.3x its EBITDA (EV/EBITDA). A high P/E alone does not make American Tower expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are American Tower's competitors?
On Fintols we compare American Tower with Simon Property, Prologis and Welltower, which are also in real estate. As of November 4, 2026, Simon Property is worth $86.7 billion and trades on a P/E of 16.1; Prologis is worth $127.7 billion and trades on a P/E of 28.9; Welltower is worth $181.9 billion and trades on a P/E of 105.1. Each has a side-by-side comparison with American Tower below.
American Tower competitors
- Simon Property (SPG) analysis · American Tower vs Simon Property comparison
- Prologis (PLD) analysis · American Tower vs Prologis comparison
- Welltower (WELL) analysis · American Tower vs Welltower comparison
To understand American Tower better
- Dividend Growth Investing: FCF Payout Ratio and Compounding
- How to Read a Balance Sheet: A Beginner's Guide
More companies like American Tower: real estate stocks, S&P 500 companies and S&P 100 companies. Open the full AMT analysis with its valuation and scenarios. Educational content about American Tower, not investment advice.