FN2 Earnings Intelligence
American Tower Corporation financials
American Tower Corporation (AMT) financial statements and key operating metrics from FN2 Research.
Key Stats
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 | 12/31/2026 est. | 12/31/2027 est. |
|---|---|---|---|---|---|---|---|
| Market Cap | - | - | - | - | - | - | - |
| - Cash | $1,949.9 | $2,028.4 | $1,973.3 | $1,999.6 | $1,474.8 | - | - |
| + Debt | - | - | - | - | - | - | - |
| Enterprise Value | - | - | - | - | - | - | - |
| Revenue | $9,356.9 | $10,711.1 | $11,144.2 | $10,127.2 | $10,644.6 | $10,945.4 | $11,268.6 |
| % Growth | 16.4% | 14.5% | 4.0% | -9.1% | 5.1% | 2.8% | 3.0% |
| Gross Profit | $6,674.9 | $7,447.3 | $7,883.6 | $7,552.8 | $7,896.5 | - | - |
| % Margin | 71.3% | 69.5% | 70.7% | 74.6% | 74.2% | - | - |
| EBITDA | $4,168.2 | $3,904.9 | $4,524.9 | $5,616.5 | $5,945.8 | - | - |
| % Margin | 44.5% | 36.5% | 40.6% | 55.5% | 55.9% | - | - |
| Net Income | $2,567.6 | $1,696.7 | $1,367.1 | $2,280.2 | $2,628.5 | - | - |
| % Margin | 27.4% | 15.8% | 12.3% | 22.5% | 24.7% | - | - |
| Diluted EPS | $5.66 | $3.82 | $3.18 | $4.82 | $5.40 | $6.59 | $6.76 |
| % Growth | 49.3% | -32.5% | -16.8% | 51.6% | 12.0% | 22.1% | 2.5% |
| Operating Cash Flow | $4,819.9 | $3,696.2 | $4,722.4 | $5,290.5 | $5,464 | - | - |
| CapEx | $1,376.7 | $1,873.6 | $1,798.1 | $1,590 | $1,680.4 | - | - |
| Free Cash Flow | $3,443.2 | $1,822.6 | $2,924.3 | $3,700.5 | $3,783.6 | - | - |
Historical market capitalization is not persisted, so Market Cap and Enterprise Value remain unavailable rather than mixing today's market value into prior periods.
Income Statement
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 | 12/31/2026 est. | 12/31/2027 est. |
|---|---|---|---|---|---|---|---|
| Revenue | $9,356.9 | $10,711.1 | $11,144.2 | $10,127.2 | $10,644.6 | $10,945.4 | $11,268.6 |
| Gross Profit | $6,674.9 | $7,447.3 | $7,883.6 | $7,552.8 | $7,896.5 | - | - |
| EBITDA | $4,168.2 | $3,904.9 | $4,524.9 | $5,616.5 | $5,945.8 | - | - |
| Net Income | $2,567.6 | $1,696.7 | $1,367.1 | $2,280.2 | $2,628.5 | - | - |
| Diluted EPS | $5.66 | $3.82 | $3.18 | $4.82 | $5.40 | $6.59 | $6.76 |
Balance Sheet
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $1,949.9 | $2,028.4 | $1,973.3 | $1,999.6 | $1,474.8 |
| Short-term Debt | - | - | - | - | - |
| Long-term Debt | $43,497.5 | $38,901.8 | $36,472 | $34,174.9 | $35,409.2 |
| Total Debt | - | - | - | - | - |
Cash Flow
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $4,819.9 | $3,696.2 | $4,722.4 | $5,290.5 | $5,464 |
| Capital Expenditure | $1,376.7 | $1,873.6 | $1,798.1 | $1,590 | $1,680.4 |
| Free Cash Flow | $3,443.2 | $1,822.6 | $2,924.3 | $3,700.5 | $3,783.6 |
Ratios
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Revenue Growth | 16.4% | 14.5% | 4.0% | -9.1% | 5.1% |
| Gross Margin | 71.3% | 69.5% | 70.7% | 74.6% | 74.2% |
| EBITDA Margin | 44.5% | 36.5% | 40.6% | 55.5% | 55.9% |
| Net Margin | 27.4% | 15.8% | 12.3% | 22.5% | 24.7% |
| FCF Margin | 36.8% | 17.0% | 26.2% | 36.5% | 35.5% |
| Diluted EPS Growth | 49.3% | -32.5% | -16.8% | 51.6% | 12.0% |