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American Tower AMT Net debt / EBITDA

Net debt / EBITDA at other companies

SBA Communications logo
SBA CommunicationsSBAC
7.6×+0.7×
Crown Castle logo
Crown CastleCCI
12.1×+1.2×
Equinix, Inc. logo
Equinix, Inc.EQIX
5.4×+0.4×
Digital Realty logo
Digital RealtyDLR
-0.7×-0.2×
Realty Income logo
Realty IncomeO
0.0×
Prologis logo
PrologisPLD
5.1×+0.1×

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$82.02B-20.9%
Enterprise value$94.36B-15.6%
P/E27.3×-28.6×
P/S7.6×-2.6×

Profitability

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Gross margin99.5%
Operating margin44.7%-0.8pp
Net margin27.8%+9.6pp

Returns & leverage

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Return on equity85.3%+36.3pp
Debt / equity+1.0×
Current ratio0.3×-0.3×

Where this comes from

Calculated from American Tower’s reported figures.

Based on the most recent quarter.

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 net debt / EBITDA?
American Tower (AMT) reported net debt / EBITDA of 1.8× in Q1 2026.
How has American Tower's net debt / EBITDA changed year-over-year?
American Tower's net debt / EBITDA increased by 44.8% year-over-year, from 1.2× to 1.8×.
What is the long-term trend for American Tower's net debt / EBITDA?
Over 4 years (2021 to 2025), American Tower's net debt / EBITDA has grown at a -6.9% compound annual growth rate (CAGR), from 6.7× to 5×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.