What is American Tower's change in AP?

American Tower (AMT) reported change in AP of -$16.4M in Q4 2025.

How has American Tower's change in AP changed year-over-year?

American Tower's change in AP decreased by 236.7% year-over-year, from $12M to -$16.4M.

What is the long-term trend for American Tower's change in AP?

Over 4 years (2021 to 2025), American Tower's change in AP has grown at a 18.6% compound annual growth rate (CAGR), from $33.2M to -$65.6M.

What does change in AP mean?

Increase or decrease in amounts owed to suppliers — a key working capital component affecting operating cash flow.

American Tower AMT Change in AP

Change in AP at other companies

SBA CommunicationsSBAC

-$13.06M-52.9%

Crown CastleCCI

$1M+117%

Equinix, Inc.EQIX

-$62M+58.4%

Digital RealtyDLR

$261.77M-13.5%

Realty IncomeO

-$39.95M+31.7%

Piedmont Office Realty TrustPDM

-$18M+39.5%

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%

CapEx$449.5M+35.8%

Free cash flow$951.1M-1.3%

Valuation

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Market cap$76.21B-24.0%

Enterprise value$88.54B-18.3%

P/E25.3×-50.2×

P/S7×-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:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities.

The official record: American Tower’s 10-K, filed February 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is American Tower's change in AP?: American Tower (AMT) reported change in AP of -$16.4M in Q4 2025.
How has American Tower's change in AP changed year-over-year?: American Tower's change in AP decreased by 236.7% year-over-year, from $12M to -$16.4M.
What is the long-term trend for American Tower's change in AP?: Over 4 years (2021 to 2025), American Tower's change in AP has grown at a 18.6% compound annual growth rate (CAGR), from $33.2M to -$65.6M.
What does change in AP mean?: Increase or decrease in amounts owed to suppliers — a key working capital component affecting operating cash flow.