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)
- $10.9B
- Revenue growth
- +6.6%
- Operating margin
- 44.8%
- Net income (12 months)
- $3.5B
- Free cash flow (12 months)
- $4.0B
- Cash
- $1.8B
- Debt
- $37.2B
- Diluted EPS (12 months)
- $7.28
Twelve months to June 30, 2026, from the 10-Q filed July 28, 2026.
Latest twelve months
Over the twelve months to June 30, 2026, American Tower reported revenue of $10.9 billion, about the same as a year earlier (+6.6%).
Its operating margin was 44.8%: for every $100 of sales, about $45 was left as operating profit.
Net income was $3.5 billion (32.1% of revenue), 164.5% higher than a year earlier.
Operating cash flow was $5.8 billion and capital spending $1.8 billion, leaving free cash flow of $4.0 billion (36.2% of revenue). Capital spending equal to 17% of revenue is high; the company is investing heavily.
At the end of the period it held $1.8 billion in cash and $37.2 billion in debt, a net debt position of $35.4 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 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
- 8-K filed June 4, 2026 — Other event
- 8-K filed June 2, 2026 — Other event
- 8-K filed May 27, 2026 — Material agreement; New debt obligation
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Questions about American Tower
Is American Tower's revenue growing?
Yes. Revenue for the twelve months to June 30, 2026 was $10.9 billion, up 6.6% from a year earlier, according to its SEC filings.
Is American Tower profitable?
Yes. It earned $3.5 billion in net income over the twelve months to June 30, 2026, a net margin of 32.1%.
Does American Tower have more cash or more debt?
At June 30, 2026 it had $1.8 billion in cash and $37.2 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 July 28, 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 September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.