What is American Tower's capex?

American Tower (AMT) reported capex of $449.5M in Q1 2026.

How has American Tower's capex changed year-over-year?

American Tower's capex increased by 35.8% year-over-year, from $331.1M to $449.5M.

What is the long-term trend for American Tower's capex?

Over 4 years (2021 to 2025), American Tower's capex has grown at a 5.1% compound annual growth rate (CAGR), from $1.38B to $1.68B.

What does capex mean?

Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

American Tower AMT CapEx

CapEx at other companies

SBA CommunicationsSBAC

$48.4M+4.8%

Crown CastleCCI

$57M+42.5%

DigitalBridge GroupDBRG

$146K-52.3%

AvalonBay CommunitiesAVB

$59.45M+22.9%

Mid-America Apartment CommunitiesMAA

$58.37M-19.6%

Realty IncomeO

——

Other financials

Income statement

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Revenue$2.7B+6.8%

Operating income$1.2B-1.2%

Net income$878.5M+76.2%

EPS (diluted)$1.84+76.9%

Balance sheet

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Cash & equivalents$1.6B-23.5%

Total debt$13.9B+34.7%

Total equity$3.5B-0.3%

Total assets$63.2B+1.9%

Cash flow

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Operating cash flow$1.4B+8.2%

Free cash flow$951.1M-1.3%

Valuation

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Market cap$78.61B-22.8%

Enterprise value$90.94B-17.4%

P/E26.1×-28.7×

P/S7.3×-2.7×

Profitability

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Gross margin99.5%—

Operating margin44.7%-0.8pp

Net margin27.8%+9.6pp

FCF margin34.9%-2.3pp

Returns & leverage

See full

Return on equity85.3%+36.3pp

Debt / equity4×+1.0×

Current ratio0.3×-0.3×

Where this comes from

Reported directly by American Tower in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

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

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Questions, answered.

What is American Tower's capex?: American Tower (AMT) reported capex of $449.5M in Q1 2026.
How has American Tower's capex changed year-over-year?: American Tower's capex increased by 35.8% year-over-year, from $331.1M to $449.5M.
What is the long-term trend for American Tower's capex?: Over 4 years (2021 to 2025), American Tower's capex has grown at a 5.1% compound annual growth rate (CAGR), from $1.38B to $1.68B.
What does capex mean?: Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.