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

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Operating margin	44.7%-0.8pp	45.5%+0.9pp	45.6%+5.2pp	45.5%+7.4pp	45.5%+10.3pp
Net margin	27.8%+9.6pp	24.7%+2.2pp	28.9%+17.6pp	12.9%-11.9pp	18.2%-2.2pp
EBITDA margin	63.8%-1.9pp	64.7%-0.7pp	65%+1.0pp	65%+0.6pp	65.7%+2.1pp
Free cash flow margin	34.9%-2.3pp	35.5%-1.0pp	35.3%-0.2pp	36.5%+2.3pp	37.1%+5.1pp
Returns
Return on equity	85.3%+36.3pp	74.7%+14.6pp	79.6%+51.8pp	35.1%-20.1pp	49%+5.7pp
Return on assets	4.8%+1.9pp	4.2%+0.6pp	4.8%+3.0pp	2.1%-1.7pp	2.9%-0.2pp
Return on invested capital	30.5%-1.8pp	32.3%+0.6pp	33.9%+3.8pp	31.6%+4.5pp	32.3%+8.3pp
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×-0.3×	0.4×-0.1×	0.6×+0.1×	0.6×0.0×	0.6×-0.1×
Quick ratio	0.3×-0.3×	0.4×-0.1×	0.6×+0.1×	0.6×0.0×	0.6×-0.1×
Cash ratio	0.2×-0.2×	0.2×-0.1×	0.3×0.0×	0.4×0.0×	0.3×0.0×
Leverage
Debt-to-equity	4×+1.0×	3.1×-0.2×	2.6×-0.6×	2.7×-0.3×	2.9×0.0×
Debt-to-assets	0.2×+0.1×	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×
Net debt / EBITDA	1.8×+0.6×	1.4×0.0×	1.2×-0.2×	1.2×-0.3×	1.2×-0.3×
Interest coverage	3.5×+0.1×	3.6×+0.3×	3.6×+0.7×	3.5×+0.8×	3.4×+0.9×
Per Share
Book value per share	$7.550.0%	$7.79+7.8%	$8.43+8.4%	$7.92-3.9%	$7.54-12.8%
Valuation
Market capitalization	$80.44B-20.9%	$82.19B-4.1%	$90.05B-17.1%	$104.82B+15.5%	$101.72B+10.4%
Enterprise value	$92.77B-15.6%	$91.87B-3.2%	$98.28B-16.6%	$112.78B+12.4%	$109.97B+8.2%
Price / earnings	26.7×-28.1×	31.3×-6.3×	29.8×-65.9×	78.9×+42.5×	54.8×+9.7×
Price / sales	7.4×-2.6×	7.7×-0.7×	8.6×-2.2×	10.2×+1.2×	10×+0.8×
Price / book	22.8×-5.9×	22.5×-2.8×	22.8×-7.0×	28.2×+4.7×	28.8×+6.0×
EV / EBITDA	13.4×-3.0×	13.3×-1.0×	14.5×-3.9×	16.9×+1.4×	16.5×+0.5×
EV / sales	8.6×-2.2×	8.6×-0.7×	9.4×-2.3×	11×+1.0×	10.8×+0.6×
Free cash flow yield	4.7%+1.0pp	4.6%+0.3pp	4.1%+0.8pp	3.6%-0.2pp	3.7%+0.2pp
Earnings yield	3.7%+1.9pp	3.2%+0.5pp	3.4%+2.3pp	1.3%-1.5pp	1.8%-0.4pp
PEG ratio	0.4×—	2×+1.4×	0.2×—	——	——

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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.