American Tower (AMT): financials, SEC filings and peers
American Tower (AMT) is a telecom tower reits company in the Real Estate sector of the S&P 500, headquartered in Boston, Massachusetts.
It was founded in 1995 and joined the S&P 500 on November 19, 2007.
Its fiscal year ends in December, and its shares trade on the NYSE.
In its SEC filings it is classified as “Real Estate Investment Trusts”.
American Tower at a glance
- Revenue (12 months)
- $11.0B
- Revenue growth
- +5.3%
- Operating margin
- 44.8%
- Net income (12 months)
- $3.4B
- Free cash flow (12 months)
- $4.0B
- Cash
- $1.9B
- Debt
- $37.6B
- Diluted EPS (12 months)
- $7.10
Twelve months to September 30, 2026, from the 10-Q filed October 27, 2026.
Latest twelve months
Over the twelve months to September 30, 2026, American Tower reported revenue of $11.0 billion, about the same as a year earlier (+5.3%).
Its operating margin was 44.8%: for every $100 of sales, about $45 was left as operating profit.
Net income was $3.4 billion (30.7% of revenue), 12.0% higher than a year earlier.
Operating cash flow was $5.7 billion and capital spending $1.7 billion, leaving free cash flow of $4.0 billion (36.0% of revenue). Capital spending equal to 16% of revenue is high; the company is investing heavily.
At the end of the period it held $1.9 billion in cash and $37.6 billion in debt, a net debt position of $35.7 billion.
Five-year trend
- Revenue went from $8.0 billion in fiscal 2020 to $10.6 billion in fiscal 2025, about 5.8% a year.
- Revenue has grown for 5 fiscal years in a row.
- Operating margin widened from 35.9% to 45.5% over the same years.
- Free cash flow was positive in each of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $9.4B | $9.6B | $10.0B | $10.1B | $10.6B |
| Revenue growth | 16.4% | 3.1% | 3.8% | 1.1% | 5.1% |
| Operating margin | 33.5% | 28.4% | 31.2% | 44.6% | 45.5% |
| Net income | $2.6B | $1.7B | $1.4B | $2.3B | $2.6B |
| Free cash flow | $3.4B | $1.8B | $2.9B | $3.7B | $3.8B |
| Diluted EPS | $5.66 | $3.82 | $3.18 | $4.82 | $5.40 |
Fiscal years as reported in American Tower’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
- 8-K filed November 9, 2026 — Other event
- 10-Q filed October 27, 2026 — quarterly report
- 8-K filed October 27, 2026 — Earnings results
- 8-K filed September 18, 2026 — Executive or director change; Other event
- 8-K filed September 14, 2026 — Material agreement; New debt obligation
- 8-K filed September 9, 2026 — Other event
- 10-Q filed July 28, 2026 — quarterly report
- 8-K filed July 28, 2026 — Earnings results
Companies like American Tower
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Questions about American Tower
Is American Tower's revenue growing?
Yes. Revenue for the twelve months to September 30, 2026 was $11.0 billion, up 5.3% from a year earlier, according to its SEC filings.
Is American Tower profitable?
Yes. It earned $3.4 billion in net income over the twelve months to September 30, 2026, a net margin of 30.7%.
Does American Tower have more cash or more debt?
At September 30, 2026 it had $1.9 billion in cash and $37.6 billion in debt, so more debt than cash.
When did American Tower last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on October 27, 2026.
Which companies are similar to American Tower?
In the S&P 500, American Tower is grouped in Telecom Tower REITs within the Real Estate sector. Crown Castle (CCI), SBA Communications (SBAC) are in the same group.
Understand the numbers
Source: American Tower’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.