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American Tower AMT Operating margin

Operating margin at other companies

SBA Communications logo
SBA CommunicationsSBAC
47.3%-6.6pp
Crown Castle logo
Crown CastleCCI
47.9%-0.1pp
Equinix, Inc. logo
Equinix, Inc.EQIX
20.8%+4.8pp
Digital Realty logo
Digital RealtyDLR
10.8%+2.3pp
Prologis logo
PrologisPLD
47.5%-1.0pp
AvalonBay Communities logo
AvalonBay CommunitiesAVB
67%+0.9pp

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%
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 trailing twelve months.

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 operating margin?
American Tower (AMT) reported operating margin of 44.7% in Q1 2026.
How has American Tower's operating margin changed year-over-year?
American Tower's operating margin decreased by 1.8% year-over-year, from 45.5% to 44.7%.
What is the long-term trend for American Tower's operating margin?
Over 4 years (2021 to 2025), American Tower's operating margin has grown at a 6.5% compound annual growth rate (CAGR), from 141.5% to 182.1%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.