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American Tower Corp (AMT) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

REAL ESTATE · Telecom Tower REITs · DATA UPDATED 2026-08-29

American Tower Corp (AMT) operates in the Telecom Tower REITs industry and is headquartered in Boston, United States with about 4,866 employees. Its market capitalization is roughly $81 billion. In the fiscal year ended 2025-12-31, AMT reported $10.6B in revenue and $2.5B in net income.

American Tower Corporation one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 148,000 communications sites and a highly interconnected footprint of U.S. data center facilities.

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AMT Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$10.9B	$10.6B	$10.1B	$10.0B	$9.6B	$9.4B	$8.0B	$7.6B	$7.4B	$6.7B	$5.8B	$4.8B	$4.1B	$3.4B	$2.9B	$2.4B	$2.0B	$1.7B	$1.6B	$1.5B	$1.3B
Gross Profit	$8.0B	$7.8B	$7.6B	$7.5B	$7.1B	$6.7B	$5.8B	$5.4B	$5.3B	$4.6B	$4.0B	$3.5B	$3.0B	$2.5B	$2.2B	$1.8B	$1.5B	$1.3B	$1.2B	$1.1B	$974M
Gross Margin %	73.2%	73.7%	74.6%	74.4%	73.4%	71.3%	72.3%	70.8%	70.7%	69.2%	69.1%	72.6%	73.4%	74.5%	74.9%	74.6%	76.1%	75.8%	75.5%	75.3%	73.9%
Operating Income (EBIT)	$4.9B	$4.9B	$4.5B	$3.1B	$2.7B	$3.1B	$2.9B	$2.7B	$1.9B	$2.0B	$1.9B	$1.6B	$1.5B	$1.2B	$1.1B	$920M	$784M	$672M	$607M	$378M	$286M
Operating Margin %	44.4%	45.9%	44.6%	31.2%	28.4%	33.5%	35.9%	35.5%	25.6%	30.0%	32.0%	33.8%	36.3%	36.1%	38.9%	37.7%	39.5%	39.0%	38.1%	26.0%	21.8%
Net Income	$3.4B	$2.5B	$2.3B	$1.5B	$1.8B	$2.6B	$1.7B	$1.9B	$1.2B	$1.2B	$956M	$685M	$825M	$551M	$637M	$393M	$373M	$247M	$347M	$56M	$27M
Net Margin %	30.9%	23.8%	22.3%	14.8%	18.3%	27.4%	21.0%	24.9%	16.6%	18.6%	16.5%	14.4%	20.1%	16.4%	22.2%	16.1%	18.8%	14.3%	21.8%	3.9%	2.1%
EBITDA	$7.0B	$6.1B	$7.2B	$6.0B	$6.6B	$6.0B	$4.5B	$4.5B	$4.1B	$3.7B	$3.4B	$2.7B	$2.5B	$1.8B	$1.7B	$1.4B	$1.3B	$1.1B	$1.0B	$909M	$824M
Earnings Per Share (EPS)	$7.22	$5.39	$4.82	$3.18	$3.82	$5.66	$3.79	$4.24	$2.79	$2.87	$2.23	$1.62	$2.06	$1.38	$1.60	$0.98	$0.92	$0.61	$0.83	$0.13	$0.06
Shares Outstanding (M)	467M	469M	468M	467M	463M	453M	446M	446M	443M	432M	429M	423M	400M	399M	399M	400M	404M	407M	418M	426M	436M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AMT Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$2.7B	$2.7B	$2.7B	$2.7B	$2.6B	$2.6B	$2.5B	$2.5B
Gross Profit	$2.0B	$2.0B	$1.9B	$2.0B	$1.9B	$1.9B	$1.9B	$1.9B
Gross Margin %	73.0%	73.9%	70.7%	75.1%	73.8%	75.2%	74.3%	74.2%
Operating Income (EBIT)	$1.3B	$1.2B	$1.2B	$1.3B	$1.2B	$1.3B	$1.1B	$1.1B
Operating Margin %	46.2%	42.4%	42.4%	46.7%	45.6%	48.9%	42.4%	45.2%
Net Income	$868M	$837M	$821M	$853M	$367M	$489M	$1.2B	($792M)
Net Margin %	31.6%	30.6%	30.0%	31.4%	14.0%	19.1%	48.3%	-31.4%
EBITDA	$1.9B	$1.8B	$1.9B	$1.5B	$1.7B	$1.4B	$2.1B	$1.4B
Earnings Per Share (EPS)	$1.86	$1.79	$1.75	$1.82	$0.78	$1.04	$2.63	$-1.69
Shares Outstanding (M)	467M	467M	469M	469M	469M	469M	468M	468M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AMT Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$5.8B	$5.5B	$5.3B	$4.7B	$3.7B	$4.8B	$3.9B	$3.8B	$3.7B	$2.9B	$2.7B	$2.2B	$2.1B	$1.6B	$1.4B	$1.2B	$1.0B	$842M	$773M	$693M	$621M
Capital Expenditures (CapEx)	$1.8B	$1.7B	$1.6B	$1.8B	$1.9B	$1.4B	$1.0B	$991M	$913M	$804M	$683M	$729M	$974M	$725M	$568M	$523M	$347M	$250M	$243M	$154M	$127M
Free Cash Flow (FCF)	$4.0B	$3.8B	$3.7B	$2.9B	$1.8B	$3.4B	$2.9B	$2.8B	$2.8B	$2.1B	$2.0B	$1.5B	$1.2B	$875M	$846M	$643M	$674M	$592M	$530M	$538M	$494M
FCF Margin %	36.2%	35.5%	36.5%	29.2%	18.9%	36.8%	35.4%	36.4%	38.1%	31.8%	34.9%	30.5%	28.3%	26.0%	29.4%	26.3%	34.0%	34.3%	33.2%	37.0%	37.5%
Dividends Paid	$3.2B	$3.2B	$3.1B	$2.9B	$2.6B	$2.3B	$1.9B	$1.6B	$1.3B	$1.2B	$993M	$795M	$421M	$435M	$356M	$138M	$0M	$0M	—	$4.4B	$1.9B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AMT Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$1.5B	$1.4B	$1.4B	$1.5B	$1.3B	$1.3B	$1.2B	$1.5B
Capital Expenditures (CapEx)	$321M	$450M	$579M	$466M	$305M	$331M	$443M	$425M
Free Cash Flow (FCF)	$1.2B	$951M	$848M	$994M	$977M	$964M	$756M	$1.0B
FCF Margin %	42.4%	34.7%	31.0%	36.6%	37.2%	37.6%	29.7%	41.4%
Dividends Paid	$835M	$807M	$796M	$796M	$796M	$768M	$758M	$758M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AMT Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$63.3B	$63.2B	$61.1B	$66.0B	$67.2B	$69.9B	$47.2B	$42.8B	$33.0B	$33.2B	$30.9B	$26.9B	$21.3B	$20.3B	$14.1B	$12.2B	$10.4B	$8.5B	$8.2B	$8.1B	$8.6B
Cash & Cash Equivalents	$1.8B	$1.5B	$2.0B	$1.8B	$2.0B	$1.9B	$1.7B	$1.5B	$1.2B	$802M	$787M	$321M	$313M	$294M	$369M	$330M	$884M	$247M	$143M	$33M	$281M
Total Liabilities	$53.0B	$52.8B	$51.4B	$55.2B	$54.8B	$60.8B	$42.5B	$36.2B	$26.1B	$25.3B	$22.8B	$20.2B	$17.3B	$16.7B	$10.4B	$8.8B	$6.9B	$5.2B	$5.2B	$5.1B	$4.2B
Total Debt (Short + Long-Term)	$5.9B	$37.8B	$37.1B	$39.5B	$39.5B	$43.9B	$29.8B	$24.6B	$21.2B	$20.2B	$18.5B	$17.1B	$14.6B	$14.5B	$8.8B	$7.3B	$5.6B	$4.2B	$4.3B	$4.3B	$3.5B
Total Shareholders' Equity	$3.7B	$3.7B	$3.4B	$4.2B	$5.6B	$5.1B	$4.1B	$5.1B	$5.3B	$6.2B	$6.8B	$6.7B	$4.0B	$3.5B	$3.6B	$3.3B	$3.5B	$3.3B	$3.0B	$3.0B	$4.4B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive AMT viewer.

AMT Metric Deep Dives

Other Companies in Telecom Tower REITs

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