ES
MARKETS / NYSE / AMT
NYSE · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

American Tower Corp. /ma/ AMT

19 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY3 YEARS OF DIVIDEND GROWTH
Revenue · FY2025
$935.9M
▲ 20.8% vs FY2024
Dividend streak
3 yrs
Raised every year since 2023
EPS · FY25
$5.40
Dividend / sh · FY25
$6.72
Payout · FY25
121%
ROE · FY25
74.7%
Net margin · FY25
280.9%
Dividend coverage
0.8×
Advertisement
AdSense · Leaderboard 728×90320×100
Result
USD 935.9M
Revenue, FY2025 · full 19-year series below
Revenue Net income
24680.92.62007201020132016201920222025
24680.92.62016201920222025

281 cents of every revenue dollar became profit this year.

Per share
USD 5.40
Diluted EPS, FY2025
EPS Dividend
2.557.56.725.402007201020132016201920222025
2.557.56.725.402016201920222025

Earnings covered only a fraction of the dividend — the rest came from cash or borrowing.

Profitability
74.7%
Return on equity, FY2025
ROE
2040608074.7%2007201020132016201920222025
2040608074.7%2016201920222025
Operating margin517.8%
Net margin280.9%
Return on assets4.2%

Each USD of equity produced 75 cents of profit this year.

Returned to shareholders
USD 3.5B
returned in FY2025 · dividends + net buybacks
Dividends paidUSD 3.2B
Net buybacksUSD 337.8M
Share of profit133.9%
Consecutive raises3 years

USD 3.2B in dividends and USD 337.8M in buybacks — 134% of the year's profit, so the payout drew on cash built up earlier.

Growth
+13.6% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+3.6%
+13.6%
−15.0%
−4.9%
Net income
+15.7%
+9.2%
+14.4%
+13.9%
EPS, diluted
+12.2%
+7.3%
+14.4%
+12.5%
Dividend / share
+16.0%
Returned to shareholders
+9.0%
+12.1%
+17.3%
+15.0%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
0.47B
Shares outstanding, FY2025
0.400.472007201020132016201920222025
0.430.472016201920222025
Change, 5 years+4.9%
Change, 10 years+10.0%

The share count grew 5% in five years — the same company, cut into more, smaller slices.

Advertisement
AdSense · Leaderboard 728×90300×250
Balance sheet
USD 63.2B
total assets, end of FY2025
Total assetsUSD 63.2B
EquityUSD 3.7B
CashUSD 1.5B
Gross debtUSD 37.2B
Net debtUSD 35.7B
Current ratio0.40×

Net debt stands at 979% of equity.

History
19 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
Revenue $B
0.9
0.8
0.7
0.8
0.7
0.5
0.5
7.4
6.7
5.8
4.8
4.1
3.4
2.9
2.4
2.0
1.7
1.6
1.5
Operating income $B
4.8
4.5
3.1
2.7
3.1
2.9
2.7
1.9
2.0
1.9
1.6
1.5
1.2
1.1
0.9
0.8
0.7
0.6
0.4
EBITDA $B
6.9
6.5
6.1
5.9
5.5
4.8
4.5
4.0
3.7
3.4
2.9
2.5
2.0
1.8
1.5
1.2
1.1
1.0
0.9
Income tax $B
0.4
0.4
0.1
0.1
0.3
0.1
−0.0
−0.1
0.0
0.2
0.2
0.1
0.1
0.1
0.1
0.2
0.2
0.1
0.1
Net income $B
2.6
2.3
1.4
1.7
2.6
1.7
1.9
1.2
1.2
1.0
0.7
0.8
0.6
0.6
0.4
0.4
0.2
0.3
0.1
EPS, diluted $
5.40
4.82
3.18
3.82
5.66
3.79
4.24
2.77
2.67
1.98
1.41
2.00
1.38
1.60
0.99
0.92
0.61
0.84
0.13
Dividend / sh $
6.72
6.56
6.31
4.30
·
·
·
·
·
·
·
·
·
0.90
0.35
0.00
·
·
·
Payout %
121
133
220
160
88
114
84
107
87
93
104
49
79
56
35
0
0
·
·
ROE %
74.7
60.2
28.0
31.9
56.0
37.0
36.9
23.2
18.3
14.3
12.9
22.0
15.5
18.6
11.7
10.9
7.8
11.6
·
Shares out B
0.47
0.47
0.47
0.47
0.46
0.44
0.44
0.44
·
0.43
0.42
0.40
0.39
0.40
0.39
0.40
0.40
0.40
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
53 of 53
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed