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American Tower AMT Services — Segment operating expenses

Other segment segments

U.S. & Canada
$220.4M-0.8%
Africa & APAC
$146.8M+40.5%
Latin America
$130.8M+5.1%
Data Centers
$113.8M+10.6%
Europe
$96.1M+11.0%

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Other financials

Income statement

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Revenue$2.7B+4.7%
Operating income$1.3B+5.9%
Net income$887.5M+133%
EPS (diluted)$1.86+138%

Balance sheet

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Cash & equivalents$1.8B-15.1%
Total debt$45.0B+348%
Total equity$3.7B+0.2%
Total assets$63.3B-0.7%

Cash flow

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Operating cash flow$1.5B+16.0%
CapEx$320.9M+5.4%
Free cash flow$1.2B+19.3%

Valuation

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Market cap$81.29B-16.7%
Enterprise value$124.52B+18.0%
P/E23.1×-50.3×
P/S7.4×-2.1×

Profitability

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Gross margin99.5%
Operating margin44.8%-0.7pp
Net margin32.1%+19.2pp
FCF margin36.2%-0.3pp

Returns & leverage

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Return on equity94.6%+59.5pp
Debt / equity12.1×+9.4×
Current ratio0.4×-0.3×

Where this comes from

Reported directly by American Tower in its filing.

Tagged under the XBRL concept us-gaap:CostOfRevenue.

The official record: American Tower’s 10-Q, filed July 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is American Tower's services — segment operating expenses?
American Tower (AMT) reported services — segment operating expenses of $33.4M in Q2 2026.
How has American Tower's services — segment operating expenses changed year-over-year?
American Tower's services — segment operating expenses decreased by 30.6% year-over-year, from $48.1M to $33.4M.
What is the long-term trend for American Tower's services — segment operating expenses?
Over 4 years (2021 to 2025), American Tower's services — segment operating expenses has grown at a 15.8% compound annual growth rate (CAGR), from $96.7M to $174M.
What does services — segment operating expenses mean?
Includes all direct and indirect costs incurred to support the delivery of services within the segment, excluding corporate overhead. This encompasses labor, materials, and operational logistics required to maintain service-level agreements.