A

AMERICAN TOWER CORP /MA/

AMT · CIK 0001053507reit template: specialized rows coming in Phase 1

19 fiscal years · 68 SEC filings · every number carries its receipt

Revenue (FY)
$935.9M20.8%
FY2025
Net income (FY)
$1.69B10.4%
FY2020
Free cash flow (FY)
$3.78B2.2%
FY2025
Diluted EPS (FY)
$5.4012.0%
FY2025
The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$2B$4B$6BFY2007 · Revenue $1.46B · Net income $56.3M · 0001193125-10-044876 · filed 2010-03-01FY07Revenue $1.46BNet income $56.3M0001193125-10-044876 · filed 2010-03-01FY2008 · Revenue $1.59B · Net income $347.2M · 0001193125-11-050129 · filed 2011-02-28FY08Revenue $1.59BNet income $347.2M0001193125-11-050129 · filed 2011-02-28FY2009 · Revenue $1.72B · Net income $246.6M · 0001193125-12-086162 · filed 2012-02-29FY09Revenue $1.72BNet income $246.6M0001193125-12-086162 · filed 2012-02-29FY2010 · Revenue $1.99B · Net income $372.9M · 0001193125-13-077821 · filed 2013-02-27FY10Revenue $1.99BNet income $372.9M0001193125-13-077821 · filed 2013-02-27FY2011 · Revenue $2.44B · Net income $396.5M · 0001193125-14-068001 · filed 2014-02-26FY11Revenue $2.44BNet income $396.5M0001193125-14-068001 · filed 2014-02-26FY2012 · Revenue $2.88B · Net income $637.3M · 0001193125-15-059026 · filed 2015-02-24FY12Revenue $2.88BNet income $637.3M0001193125-15-059026 · filed 2015-02-24FY2013 · Revenue $3.36B · Net income $551.3M · 0001053507-16-000018 · filed 2016-02-26FY13Revenue $3.36BNet income $551.3M0001053507-16-000018 · filed 2016-02-26FY2014 · Revenue $4.10B · Net income $824.9M · 0001053507-17-000009 · filed 2017-02-27FY14Revenue $4.10BNet income $824.9M0001053507-17-000009 · filed 2017-02-27FY2015 · Revenue $4.77B · Net income $685.1M · 0001053507-17-000009 · filed 2017-02-27FY15Revenue $4.77BNet income $685.1M0001053507-17-000009 · filed 2017-02-27FY2016 · Revenue $5.79B · Net income $956.4M · 0001053507-17-000009 · filed 2017-02-27FY16Revenue $5.79BNet income $956.4M0001053507-17-000009 · filed 2017-02-27FY2017 · Revenue $6.66B · Net income $1.24B · 0001053507-20-000028 · filed 2020-02-25FY17Revenue $6.66BNet income $1.24B0001053507-20-000028 · filed 2020-02-25FY2018 · Revenue $491.3M · Net income $1.24B · 0001053507-20-000028 · filed 2020-02-25 · 0001053507-21-000026 · filed 2021-02-25FY18Revenue $491.3MNet income $1.24B0001053507-20-000028 · filed 2020-02-25 · 0001053507-21-000026 · filed 2021-02-25FY2019 · Revenue $527.2M · Net income $1.89B · 0001053507-22-000017 · filed 2022-02-25 · 0001053507-21-000026 · filed 2021-02-25FY19Revenue $527.2MNet income $1.89B0001053507-22-000017 · filed 2022-02-25 · 0001053507-21-000026 · filed 2021-02-25FY2020 · Revenue $495.7M · Net income $1.69B · 0001053507-23-000023 · filed 2023-02-23 · 0001053507-21-000026 · filed 2021-02-25FY20Revenue $495.7MNet income $1.69B0001053507-23-000023 · filed 2023-02-23 · 0001053507-21-000026 · filed 2021-02-25FY2021 · Revenue $717.2M · 0001053507-24-000011 · filed 2024-02-27FY21Revenue $717.2M0001053507-24-000011 · filed 2024-02-27FY2022 · Revenue $840.7M · 0001053507-25-000025 · filed 2025-02-25FY22Revenue $840.7M0001053507-25-000025 · filed 2025-02-25FY2023 · Revenue $747.3M · 0001053507-26-000035 · filed 2026-02-24FY23Revenue $747.3M0001053507-26-000035 · filed 2026-02-24FY2024 · Revenue $774.6M · 0001053507-26-000035 · filed 2026-02-24FY24Revenue $774.6M0001053507-26-000035 · filed 2026-02-24FY2025 · Revenue $935.9M · 0001053507-26-000035 · filed 2026-02-24FY25Revenue $935.9M0001053507-26-000035 · filed 2026-02-24FY25Revenue $935.9M0001053507-26-000035 · filed 2026-02-24FY07FY10FY13FY16FY19FY22FY25

net margin 3.9% → 341.1%

MarginsNet marginFCF margin
0%200%400%600%FY2007 · Net margin 3.9% · FCF margin 37.0%FY07Net margin 3.9%FCF margin 37.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2008 · Net margin 21.8% · FCF margin 33.2%FY08Net margin 21.8%FCF margin 33.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 14.3% · FCF margin 34.3%FY09Net margin 14.3%FCF margin 34.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 18.8% · FCF margin 34.0%FY10Net margin 18.8%FCF margin 34.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 16.2% · FCF margin 26.3%FY11Net margin 16.2%FCF margin 26.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 22.2% · FCF margin 29.4%FY12Net margin 22.2%FCF margin 29.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 16.4% · FCF margin 26.0%FY13Net margin 16.4%FCF margin 26.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 20.1% · FCF margin 28.3%FY14Net margin 20.1%FCF margin 28.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 14.4% · FCF margin 30.5%FY15Net margin 14.4%FCF margin 30.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 16.5% · FCF margin 34.9%FY16Net margin 16.5%FCF margin 34.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 18.6% · FCF margin 31.8%FY17Net margin 18.6%FCF margin 31.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 251.7% · FCF margin 577.1%FY18Net margin 251.7%FCF margin 577.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 358.1% · FCF margin 523.8%FY19Net margin 358.1%FCF margin 523.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 341.1% · FCF margin 574.9%FY20Net margin 341.1%FCF margin 574.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · FCF margin 480.1%FY21FCF margin 480.1%derived: (ocf − capex) ÷ revenueFY2022 · FCF margin 216.8%FY22FCF margin 216.8%derived: (ocf − capex) ÷ revenueFY2023 · FCF margin 391.3%FY23FCF margin 391.3%derived: (ocf − capex) ÷ revenueFY2024 · FCF margin 477.7%FY24FCF margin 477.7%derived: (ocf − capex) ÷ revenueFY2025 · FCF margin 404.3%FY25FCF margin 404.3%derived: (ocf − capex) ÷ revenueFY25FCF margin 404.3%derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2020: net 341.1% · free cash flow 404.3% of revenue

Cash engineOperating cash flowFree cash flow
$0$2B$4BFY2007 · OCF $692.7M · FCF $538.3M · 0001193125-10-044876 · filed 2010-03-01FY07OCF $692.7MFCF $538.3M0001193125-10-044876 · filed 2010-03-01FY2008 · OCF $773.3M · FCF $529.8M · 0001193125-11-050129 · filed 2011-02-28FY08OCF $773.3MFCF $529.8M0001193125-11-050129 · filed 2011-02-28FY2009 · OCF $842.1M · FCF $591.9M · 0001193125-12-086162 · filed 2012-02-29FY09OCF $842.1MFCF $591.9M0001193125-12-086162 · filed 2012-02-29FY2010 · OCF $1.02B · FCF $674.3M · 0001193125-13-077821 · filed 2013-02-27FY10OCF $1.02BFCF $674.3M0001193125-13-077821 · filed 2013-02-27FY2011 · OCF $1.17B · FCF $642.9M · 0001193125-13-077821 · filed 2013-02-27FY11OCF $1.17BFCF $642.9M0001193125-13-077821 · filed 2013-02-27FY2012 · OCF $1.41B · FCF $846.3M · 0001193125-13-077821 · filed 2013-02-27FY12OCF $1.41BFCF $846.3M0001193125-13-077821 · filed 2013-02-27FY2013 · OCF $1.60B · FCF $874.5M · 0001053507-16-000018 · filed 2016-02-26FY13OCF $1.60BFCF $874.5M0001053507-16-000018 · filed 2016-02-26FY2014 · OCF $2.13B · FCF $1.16B · 0001053507-17-000009 · filed 2017-02-27FY14OCF $2.13BFCF $1.16B0001053507-17-000009 · filed 2017-02-27FY2015 · OCF $2.18B · FCF $1.45B · 0001053507-17-000009 · filed 2017-02-27FY15OCF $2.18BFCF $1.45B0001053507-17-000009 · filed 2017-02-27FY2016 · OCF $2.70B · FCF $2.02B · 0001053507-17-000009 · filed 2017-02-27FY16OCF $2.70BFCF $2.02B0001053507-17-000009 · filed 2017-02-27FY2017 · OCF $2.93B · FCF $2.12B · 0001053507-20-000028 · filed 2020-02-25FY17OCF $2.93BFCF $2.12B0001053507-20-000028 · filed 2020-02-25FY2018 · OCF $3.75B · FCF $2.84B · 0001053507-21-000026 · filed 2021-02-25FY18OCF $3.75BFCF $2.84B0001053507-21-000026 · filed 2021-02-25FY2019 · OCF $3.75B · FCF $2.76B · 0001053507-22-000017 · filed 2022-02-25FY19OCF $3.75BFCF $2.76B0001053507-22-000017 · filed 2022-02-25FY2020 · OCF $3.88B · FCF $2.85B · 0001053507-23-000023 · filed 2023-02-23FY20OCF $3.88BFCF $2.85B0001053507-23-000023 · filed 2023-02-23FY2021 · OCF $4.82B · FCF $3.44B · 0001053507-24-000011 · filed 2024-02-27FY21OCF $4.82BFCF $3.44B0001053507-24-000011 · filed 2024-02-27FY2022 · OCF $3.70B · FCF $1.82B · 0001053507-25-000025 · filed 2025-02-25FY22OCF $3.70BFCF $1.82B0001053507-25-000025 · filed 2025-02-25FY2023 · OCF $4.72B · FCF $2.92B · 0001053507-26-000035 · filed 2026-02-24FY23OCF $4.72BFCF $2.92B0001053507-26-000035 · filed 2026-02-24FY2024 · OCF $5.29B · FCF $3.70B · 0001053507-26-000035 · filed 2026-02-24FY24OCF $5.29BFCF $3.70B0001053507-26-000035 · filed 2026-02-24FY2025 · OCF $5.46B · FCF $3.78B · 0001053507-26-000035 · filed 2026-02-24FY25OCF $5.46BFCF $3.78B0001053507-26-000035 · filed 2026-02-24FY25OCF $5.46BFCF $3.78B0001053507-26-000035 · filed 2026-02-24’09’13’17’21’25

FY2025: $5.46B operating cash − $1.68B capex = $3.78B free cash flow

Returns on capitalReturn on equityReturn on assets
0%20%40%FY2008 · ROE 11.6% · ROA 4.2%FY08ROE 11.6%ROA 4.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2009 · ROE 7.4% · ROA 2.9%FY09ROE 7.4%ROA 2.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 10.7% · ROA 3.6%FY10ROE 10.7%ROA 3.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 12.1% · ROA 3.2%FY11ROE 12.1%ROA 3.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 17.8% · ROA 4.5%FY12ROE 17.8%ROA 4.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 15.6% · ROA 2.7%FY13ROE 15.6%ROA 2.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 20.9% · ROA 3.9%FY14ROE 20.9%ROA 3.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 10.3% · ROA 2.5%FY15ROE 10.3%ROA 2.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 14.1% · ROA 3.1%FY16ROE 14.1%ROA 3.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 23.2% · ROA 3.7%FY18ROE 23.2%ROA 3.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 37.3% · ROA 4.4%FY19ROE 37.3%ROA 4.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 41.3% · ROA 3.6%FY20ROE 41.3%ROA 3.6%derived: net income ÷ equity · derived: net income ÷ assetsFY20ROE 41.3%ROA 3.6%derived: net income ÷ equity · derived: net income ÷ assets’10’13’16’20

return on equity 12% (FY2008) → 41% (FY2020) · on assets 3.6%

Balance sheetLiabilitiesEquity
$0$20B$40B$60BFY2008 · Liabilities $5.22B · Equity $2.99BFY08Liabilities $5.22BEquity $2.99B0001193125-10-044876 · filed 2010-03-01FY2009 · Liabilities $5.20B · Equity $3.32BFY09Liabilities $5.20BEquity $3.32B0001193125-11-050129 · filed 2011-02-28FY2010 · Liabilities $6.87B · Equity $3.50BFY10Liabilities $6.87BEquity $3.50B0001193125-12-086162 · filed 2012-02-29FY2011 · Liabilities $8.83B · Equity $3.29BFY11Liabilities $8.83BEquity $3.29B0001193125-13-077821 · filed 2013-02-27FY2012 · Liabilities $10.41B · Equity $3.57BFY12Liabilities $10.41BEquity $3.57B0001193125-14-068001 · filed 2014-02-26FY2013 · Liabilities $16.69B · Equity $3.53BFY13Liabilities $16.69BEquity $3.53B0001193125-15-059026 · filed 2015-02-24FY2014 · Liabilities $17.21B · Equity $3.95BFY14Liabilities $17.21BEquity $3.95B0001053507-16-000018 · filed 2016-02-26FY2015 · Liabilities $20.19B · Equity $6.65BFY15Liabilities $20.19BEquity $6.65B0001053507-17-000009 · filed 2017-02-27FY2016 · Liabilities $22.81B · Equity $6.76BFY16Liabilities $22.81BEquity $6.76B0001053507-17-000009 · filed 2017-02-27FY2018 · Liabilities $26.11B · Equity $5.34BFY18Liabilities $26.11BEquity $5.34B0001053507-20-000028 · filed 2020-02-25FY2019 · Liabilities $36.21B · Equity $5.06BFY19Liabilities $36.21BEquity $5.06B0001053507-21-000026 · filed 2021-02-25FY2020 · Liabilities $42.45B · Equity $4.09BFY20Liabilities $42.45BEquity $4.09B0001053507-22-000017 · filed 2022-02-25FY2021 · Liabilities $60.82B · Equity $5.08BFY21Liabilities $60.82BEquity $5.08B0001053507-23-000023 · filed 2023-02-23FY2022 · Liabilities $54.79B · Equity $5.57BFY22Liabilities $54.79BEquity $5.57B0001053507-24-000011 · filed 2024-02-27FY2023 · Liabilities $55.16B · Equity $4.20BFY23Liabilities $55.16BEquity $4.20B0001053507-25-000025 · filed 2025-02-25FY2024 · Liabilities $51.43B · Equity $3.38BFY24Liabilities $51.43BEquity $3.38B0001053507-26-000035 · filed 2026-02-24FY2025 · Liabilities $52.84B · Equity $3.65BFY25Liabilities $52.84BEquity $3.65B0001053507-26-000035 · filed 2026-02-24FY25Liabilities $52.84BEquity $3.65B0001053507-26-000035 · filed 2026-02-24’08’12’16’21’25

FY2025: $63.19B assets · $52.84B liabilities · $3.65B equity

The receipts

Financial statements

USD in millions except per-share and share counts. Every value links to the filing it came from — hover for the us-gaap tag, click for the 10-K/10-Q on sec.gov.

Figures as reported in SEC filings, normalized by stonks with the tag mapping shown on hover; missing tags render as “—”, never as zero. Free cash flow is derived (operating cash flow − capex) with both parents recorded in its lineage. See methodology.