Income StatementBalance SheetCash FlowSegments
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American Tower Business Segments

Business, geographic, and product segment breakdowns

American Tower generates $10.8B in annual revenue across 4 key segments: Data Centers ($941.1M), Europe ($974.2M), Latin America ($1.6B), and U.S. & Canada ($4.9B). The company-wide operating margin is 44.65%. Based on the Q1 2026 filing.

Data Centers (TTM)$941.1MEurope (TTM)$974.2MLatin America (TTM)$1.6BU.S. & Canada (TTM)$4.9B
Latest FilingQ1 2026
Report Date2026-04-28
Market Cap$85.7B
P/E Ratio28.47
ROE85.26%

Products & Services

Revenue from Contract with Customer, Excluding Assessed Tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non Lease Property Revenue$151.1M$151.4M$144.2M$145.3M$155.4M$148.5M
Services Revenue$63.7M$74.6M$99.5M$101.1M$64.4M$67.6M

Segment revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Revenue$2.5B$2.5B$2.5B$2.6B$2.7B$2.7B
Services$63.7M$74.6M$99.5M$101.1M$64.4M$67.6M

Services

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Service$31.8M$34.9M$48.1M$53.8M$37.2M$38.5M

Business Segments

CapEx

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Data Centers$127.9M$129.3M$95.0M$192.9M$248.0M$226.0M
U.S. & Canada$115.2M$83.9M$76.6M$95.6M$139.4M$84.3M
Europe$79.9M$45.7M$60.8M$89.9M$87.2M$53.1M
Africa & APAC$71.5M$54.4M$45.4M$51.9M$76.1M$51.4M
Latin America$54.3M$25.4M$32.5M$39.8M$40.4M$39.9M
Services$0.0$0.0$0.0$0.0$0.0$0.0

Effect of foreign currency translation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property, Europe-$216.1M$128.2M$268.3M$0.0$3.4M-$53.3M
Africa & APAC$2.9M$5.0M$11.4M$8.8M—-$12.4M
Property, Latin America-$50.2M$26.3M$41.8M$17.1M$9.7M$3.5M
U.S. & Canada-$2.9M$0.0$2.5M—$600.0K-$600.0K
Data Centers$0.0$0.0$0.0$0.0$0.0$0.0
Services$0.0$0.0$0.0$0.0$0.0$0.0

GOODWILL

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S. & Canada$4.6B$4.6B$4.6B$4.6B$4.6B$4.6B
Property, Europe$2.9B$3.0B$3.3B$3.2B$3.2B$3.2B
Data Centers$2.9B$2.9B$2.9B$2.9B$2.9B$2.9B
Property, Latin America$832.6M$858.9M$900.7M$917.8M$927.5M$931.0M
Africa & APAC$516.5M$515.4M$526.8M$535.6M$521.9M$509.5M
Services$2.0M$2.0M$2.0M$2.0M$2.0M$2.0M

Gross Profit

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S. & Canada$1.1B$1.1B$1.1B$1.1B$1.1B$1.1B
Property, Latin America$295.6M$276.5M$265.0M$284.2M$305.9M$346.3M
Africa & APAC$214.8M$234.3M$231.8M$256.7M$253.6M$258.5M
Data Centers$137.3M$144.8M$159.0M$162.7M$184.2M$176.8M
Property, Europe$130.7M$137.0M$146.1M$154.3M$156.1M$168.2M
Services$31.9M$39.7M$51.4M$47.3M$27.2M$29.1M

Operating Income (Loss)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S. & Canada$1.0B$1.1B$1.0B$1.1B$1.1B$1.0B
Property, Latin America$262.7M$255.5M$237.9M$255.5M$280.1M$316.2M
Africa & APAC$199.5M$214.2M$212.9M$238.2M$235.0M$239.8M
Data Centers$115.1M$121.9M$139.9M$140.0M$160.4M$152.3M
Property, Europe$111.2M$121.2M$131.5M$137.5M$133.7M$150.9M
Services$25.5M$33.3M$44.9M$41.1M$18.9M$23.8M

Property lease revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S. & Canada$1.2B$1.2B$1.2B$1.2B$1.3B$1.2B
Latin America$393.6M$373.2M$361.3M$387.8M$402.7M$449.7M
Europe$215.2M$210.2M$229.3M$242.7M$245.1M$257.1M
Data Centers$201.4M$208.2M$225.1M$227.9M$240.4M$247.7M

Revenue from Contract with Customer, Excluding Assessed Tax

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S. & Canada$1.4B$1.4B$1.4B$1.4B$1.4B$1.3B
Property, Latin America$420.9M$399.2M$389.4M$416.5M$437.5M$480.1M
Data Centers$235.7M$244.1M$261.9M$266.6M$280.5M$288.9M
Property, Europe$214.2M$213.0M$232.7M$243.6M$248.4M$260.7M

Segment operating expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S. & Canada$221.1M$202.3M$222.2M$217.4M$228.1M$206.3M
Property, Latin America$125.3M$122.7M$124.4M$132.3M$131.6M$133.8M
Africa & APAC$94.3M$99.3M$104.5M$114.1M$128.6M$120.1M
Data Centers$98.4M$99.3M$102.9M$103.9M$96.3M$112.1M
Property, Europe$83.5M$76.0M$86.6M$89.3M$92.3M$92.5M
Services$31.8M$34.9M$48.1M$53.8M$37.2M$38.5M

Selling, general, administrative and development expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S. & Canada$43.3M$39.3M$41.3M$41.2M$44.8M$38.3M
Property, Latin America$32.9M$21.0M$27.1M$28.7M$25.8M$30.1M
Data Centers$22.2M$22.9M$19.1M$22.7M$23.8M$24.5M
Africa & APAC$15.3M$20.1M$18.9M$18.5M$18.6M$18.7M
Property, Europe$19.5M$15.8M$14.6M$16.8M$22.4M$17.3M
Services$6.4M$6.4M$6.5M$6.2M$8.3M$5.3M

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property—$61.2B$63.1B$63.6B—$62.9B
U.S. & Canada$26.8B$26.8B$26.9B$26.9B$26.8B$26.4B
Property, Europe$11.3B$11.8B$12.9B$12.9B$12.9B$12.8B
Data Centers$10.4B$10.4B$10.7B$10.7B$10.7B$10.8B
Property, Latin America$7.5B$7.9B$8.4B$8.6B$8.4B$8.5B
Africa & APAC$4.0B$4.1B$4.2B$4.5B$4.1B$4.2B
Services$113.7M$131.5M$139.0M$147.8M$124.7M$112.9M

Number of data centers operated

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Data Centers————3000.0%3000.0%

Number of operating markets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Data Centers————11.0011.00

Total operating revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Services$63.7M$74.6M$99.5M$101.1M$64.4M$67.6M

Segment revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property$2.5B$2.5B$2.5B$2.6B$2.7B$2.7B