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American Tower AMT Operating margin

Operating margin at other companies

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47.7%-1.2pp
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Equinix, Inc.EQIX
21.8%+5.3pp
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Digital RealtyDLR
10.8%+2.3pp
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67%+0.9pp
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CenterspaceCSR
28.5%+21.7pp

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$78.31B-19.9%
Enterprise value$121.55B+14.9%
P/E22.3×-51.4×
P/S7.2×-2.4×

Profitability

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Gross margin99.5%
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

Calculated from American Tower’s reported figures.

Based on trailing twelve months.

The source filing: American Tower’s 10-Q, filed July 28, 2026. Open the filing →

Filed
Jul 28, 2026, 4:07 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001053507-26-000133

FAQ

What is American Tower's operating margin?
American Tower (AMT) reported operating margin of 44.8% in Q2 2026.
How has American Tower's operating margin changed year-over-year?
American Tower's operating margin decreased by 1.6% year-over-year, from 45.5% to 44.8%.
What is the long-term trend for American Tower's operating margin?
Over 5 years (2020 to 2025), American Tower's operating margin has grown at a 4.9% compound annual growth rate (CAGR), from 35.9% to 45.5%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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