What are American Tower's profit margins?

American Tower (AMT) runs a 99.5% gross margin and a 44.7% operating margin, with a 27.8% net margin.

Where do American Tower's ratios come from?

Every ratio is computed from American Tower's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

American Tower AMT Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Operating margin	44.7%-0.9pp	45.5%-0.1pp	45.6%+0.1pp	45.5%0.0pp	45.5%+0.9pp
Net margin	27.8%+3.1pp	24.7%-4.2pp	28.9%+16.0pp	12.9%-5.3pp	18.2%-4.3pp
EBITDA margin	63.8%-0.9pp	64.7%-0.3pp	65%-0.1pp	65%-0.6pp	65.7%+0.2pp
Free cash flow margin	34.9%-0.7pp	35.5%+0.2pp	35.3%-1.2pp	36.5%-0.7pp	37.1%+0.6pp
Returns
Return on equity	85.3%+10.5pp	74.7%-4.8pp	79.6%+44.5pp	35.1%-13.9pp	49%-11.2pp
Return on assets	4.8%+0.6pp	4.2%-0.5pp	4.8%+2.7pp	2.1%-0.8pp	2.9%-0.7pp
Return on invested capital	30.5%-1.8pp	32.3%-1.6pp	33.9%+2.3pp	31.6%-0.7pp	32.3%+0.5pp
Efficiency
Asset turnover	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×
Liquidity
Current ratio	0.3×-0.1×	0.4×-0.2×	0.6×0.0×	0.6×+0.1×	0.6×+0.1×
Quick ratio	0.3×-0.1×	0.4×-0.2×	0.6×0.0×	0.6×+0.1×	0.6×+0.1×
Cash ratio	0.2×0.0×	0.2×-0.1×	0.3×0.0×	0.4×0.0×	0.3×+0.1×
Leverage
Debt-to-equity	4×+0.9×	3.1×+0.5×	2.6×-0.1×	2.7×-0.2×	2.9×-0.4×
Debt-to-assets	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×
Net debt / EBITDA	1.8×+0.4×	1.4×+0.2×	1.2×0.0×	1.2×0.0×	1.2×-0.1×
Interest coverage	3.5×-0.1×	3.6×0.0×	3.6×+0.1×	3.5×+0.1×	3.4×+0.2×
Per Share
Book value per share	$7.55-3.2%	$7.79-7.5%	$8.43+6.4%	$7.92+5.0%	$7.54+4.4%
Valuation
Market capitalization	$80.44B-2.1%	$82.19B-8.7%	$90.05B-14.1%	$104.82B+3.0%	$101.72B+18.7%
Enterprise value	$92.77B+1.0%	$91.87B-6.5%	$98.28B-12.9%	$112.78B+2.6%	$109.97B+15.9%
Price / earnings	26.7×-4.5×	31.3×+1.5×	29.8×-49.1×	78.9×+24.1×	54.8×+17.2×
Price / sales	7.4×-0.3×	7.7×-0.9×	8.6×-1.6×	10.2×+0.2×	10×+1.5×
Price / book	22.8×+0.3×	22.5×-0.3×	22.8×-5.4×	28.2×-0.5×	28.8×+3.4×
EV / EBITDA	13.4×+0.1×	13.3×-1.1×	14.5×-2.4×	16.9×+0.4×	16.5×+2.1×
EV / sales	8.6×-0.1×	8.6×-0.8×	9.4×-1.6×	11×+0.2×	10.8×+1.4×
Free cash flow yield	4.7%+0.1pp	4.6%+0.5pp	4.1%+0.5pp	3.6%-0.1pp	3.7%-0.6pp
Earnings yield	3.7%+0.5pp	3.2%-0.2pp	3.4%+2.1pp	1.3%-0.6pp	1.8%-0.8pp

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Questions, answered.

What are American Tower's profit margins?: American Tower (AMT) runs a 99.5% gross margin and a 44.7% operating margin, with a 27.8% net margin.
Where do American Tower's ratios come from?: Every ratio is computed from American Tower's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.