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American Tower AMT Return on invested capital

Return on invested capital at other companies

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SBA CommunicationsSBAC
16.4%-4.0pp
Crown Castle logo
Crown CastleCCI
7.6%+1.2pp
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Equinix, Inc.EQIX
5.5%+1.3pp
Digital Realty logo
Digital RealtyDLR
3.3%+0.8pp
DigitalBridge Group logo
DigitalBridge GroupDBRG
-1.3%
Realty Income logo
Realty IncomeO
6.2%+1.2pp

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%
Operating margin44.8%-0.7pp
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 return on invested capital?
American Tower (AMT) reported return on invested capital of 14.9% in Q2 2026.
How has American Tower's return on invested capital changed year-over-year?
American Tower's return on invested capital decreased by 53.4% year-over-year, from 32% to 14.9%.
What is the long-term trend for American Tower's return on invested capital?
Over 5 years (2020 to 2025), American Tower's return on invested capital has grown at a -8.8% compound annual growth rate (CAGR), from 22.3% to 14%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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