AMERICAN TOWER CORP /MA/

EDGAR

Annual consolidated revenue for 2025: about USD 10.64B, using the latest reported figures. The previous period, 2024, was about USD 10.13B.

Watchlist

Latest quarter

Revenue

2.79 billion USD

2026 Q3 · USD

Exact inputs and evidence
  • Revenue: 2785400000 USD Source

Operating margin

45.56%

2026 Q3 · %

Exact inputs and evidence
  • Operating Income: 1269000000 USD Source
  • Revenue: 2785400000 USD Source

Operating cash flow

1.39 billion USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 4280200000 USD Source
  • Operating Cash Flow: 2887400000 USD Source

Free cash flow

995 million USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 4280200000 USD Source
  • Operating Cash Flow: 2887400000 USD Source
  • Capital Expenditure: 1167800000 USD Source
  • Capital Expenditure: 770400000 USD Source
Cash and cash equivalents
1.87 billion USD Source
Exact value

1871900000 USD

Long-term debt including current maturities
38.9 billion USD Source
Exact value

38901800000 USD

Shares outstanding
464 million shares Source
Exact value

464172000 shares

Reported share-count change

-0.88% · -4.12 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 468291000 shares · 2025-09-30· Source
  • 464172000 shares · 2026-09-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

11 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Revenue: 10644600000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 7907100000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 2737500000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 2749100000 USD · 2026-04-01 – 2026-06-30 Source
  • Revenue: 2785400000 USD · 2026-07-01 – 2026-09-30 Source

Operating cash flow

5.71 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Operating cash flow: 5464000000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 4036500000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 1400600000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 2887400000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 1400600000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 4280200000 USD · 2026-01-01 – 2026-09-30 Source
  • Operating cash flow: 2887400000 USD · 2026-01-01 – 2026-06-30 Source

Capital expenditure

1.75 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Capital expenditure: 1680400000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 1101200000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 449500000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 770400000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 449500000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 1167800000 USD · 2026-01-01 – 2026-09-30 Source
  • Capital expenditure: 770400000 USD · 2026-01-01 – 2026-06-30 Source

Free cash flow

3.96 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Operating cash flow: 5464000000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 4036500000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 1400600000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 2887400000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 1400600000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 4280200000 USD · 2026-01-01 – 2026-09-30 Source
  • Operating cash flow: 2887400000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 1680400000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 1101200000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 449500000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 770400000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 449500000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 1167800000 USD · 2026-01-01 – 2026-09-30 Source
  • Capital expenditure: 770400000 USD · 2026-01-01 – 2026-06-30 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-27.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 11 of 11 periods available· newest 2025-12-31
  • Operating income: 11 of 11 periods available· newest 2025-12-31
  • Net income: 6 of 11 periods available· newest 2020-12-31
  • Operating cash flow: 11 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 11 of 11 periods available· newest 2025-12-31
  • Total assets: 11 of 11 periods available· newest 2025-12-31
  • Total liabilities: 11 of 11 periods available· newest 2025-12-31
  • Current assets: 11 of 11 periods available· newest 2025-12-31
  • Current liabilities: 11 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 7 of 11 periods available· newest 2022-12-31
  • Shares outstanding: 11 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +5.1%

    Prior period

    USD 10.13 billion

    –

    Current period

    USD 10.64 billion

    –

    Exact inputs and evidence

    10644600000 − 10127200000 = 517400000 USD

    10127200000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    10644600000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Operating cash flow

    +3.3%

    Prior period

    USD 5.29 billion

    –

    Current period

    USD 5.46 billion

    –

    Exact inputs and evidence

    5464000000 − 5290500000 = 173500000 USD

    5290500000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    5464000000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Capital expenditure

    +5.7%

    Prior period

    USD 1.59 billion

    –

    Current period

    USD 1.68 billion

    –

    Exact inputs and evidence

    1680400000 − 1590000000 = 90400000 USD

    1590000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1680400000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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Comparable inputs unavailable for: Net income.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 10.64 billion 100% of revenue
  • Operating costs Derived USD 5.8 billion 54% of revenue
  • Operating income USD 4.85 billion 46% of revenue
  • Tax, interest and other Derived Unavailable An input is unavailable.
  • Net income Unavailable An input is unavailable.

Cash

  • Operating cash flow USD 5.46 billion 51% of revenue
  • Capital expenditure USD 1.68 billion 16% of revenue
  • Free cash flow Derived USD 3.78 billion 36% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 17%15%68%
  • 2017 19%11%70%
  • 2018 17%74%
  • 2019 25%11%65%
  • 2020 21%15%64%
  • 2021 Not shown: operating income or net income is not reported.
  • 2022 Not shown: operating income or net income is not reported.
  • 2023 Not shown: operating income or net income is not reported.
  • 2024 Not shown: operating income or net income is not reported.
  • 2025 Not shown: operating income or net income is not reported.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-315785700000 3932700000 Derived 1853000000 896600000 Derived 956400000 2019200000 Derived
Source
2017 2017-01-01 – 2017-12-316663900000 4665500000 Derived 1998400000 759500000 Derived 1238900000 2122000000 Derived
Source
2018 2018-01-01 – 2018-12-317440100000 5535100000 Derived 1905000000 668600000 Derived 1236400000 2835100000 Derived
Source
2019 2019-01-01 – 2019-12-317580300000 4891900000 Derived 2688400000 800600000 Derived 1887800000 2761300000 Derived
Source
2020 2020-01-01 – 2020-12-318041500000 5154000000 Derived 2887500000 1196900000 Derived 1690600000 2849700000 Derived
Source
2021 2021-01-01 – 2021-12-319356900000 6224900000 Derived 3132000000 UnavailableUnavailable3443200000 Derived
Source
2022 2022-01-01 – 2022-12-319645400000 6906800000 Derived 2738600000 UnavailableUnavailable1822600000 Derived
Source
2023 2023-01-01 – 2023-12-3110012200000 6886700000 Derived 3125500000 UnavailableUnavailable2924300000 Derived
Source
2024 2024-01-01 – 2024-12-3110127200000 5610700000 Derived 4516500000 UnavailableUnavailable3700500000 Derived
Source
2025 2025-01-01 – 2025-12-3110644600000 5798800000 Derived 4845800000 UnavailableUnavailable3783600000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 10.6B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.11.5B8.6B5.7B2.9B0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue5785700000
2017Revenue6663900000
2018Revenue7440100000
2019Revenue7580300000
2020Revenue8041500000
2021Revenue9356900000
2022Revenue9645400000
2023Revenue10012200000
2024Revenue10127200000
2025Revenue10644600000

Revenue growth

Change in revenue from the same financial period one year earlier.

5.1% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.23.0%17.2%11.5%5.7%0.0%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over year21.3%
2017Year over year15.2%
2018Year over year11.6%
2019Year over year1.9%
2020Year over year6.1%
2021Year over year16.4%
2022Year over year3.1%
2023Year over year3.8%
2024Year over year1.1%
2025Year over year5.1%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 45.5% 2025
Net margin 21% 2020
Free cash flow margin 35.5% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.49%37%25%12%0%201620212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin32%
2017Operating margin30%
2018Operating margin25.6%
2019Operating margin35.5%
2020Operating margin35.9%
2021Operating margin33.5%
2022Operating margin28.4%
2023Operating margin31.2%
2024Operating margin44.6%
2025Operating margin45.5%
2016Net margin16.5%
2017Net margin18.6%
2018Net margin16.6%
2019Net margin24.9%
2020Net margin21%
2021-12-31Net marginNot reported
2022-12-31Net marginNot reported
2023-12-31Net marginNot reported
2024-12-31Net marginNot reported
2025-12-31Net marginNot reported
2016Free cash flow margin34.9%
2017Free cash flow margin31.8%
2018Free cash flow margin38.1%
2019Free cash flow margin36.4%
2020Free cash flow margin35.4%
2021Free cash flow margin36.8%
2022Free cash flow margin18.9%
2023Free cash flow margin29.2%
2024Free cash flow margin36.5%
2025Free cash flow margin35.5%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 5.5B 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.5.9B4.4B3.0B1.5B0.0201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow2701700000
2017Operating cash flow2925600000
2018Operating cash flow3748300000
2019Operating cash flow3752600000
2020Operating cash flow3881400000
2021Operating cash flow4819900000
2022Operating cash flow3696200000
2023Operating cash flow4722400000
2024Operating cash flow5290500000
2025Operating cash flow5464000000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 3.8B 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.4.1B3.1B2.0B1.0B0.0201620212025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flow2019200000
2017Free cash flow2122000000
2018Free cash flow2835100000
2019Free cash flow2761300000
2020Free cash flow2849700000
2021Free cash flow3443200000
2022Free cash flow1822600000
2023Free cash flow2924300000
2024Free cash flow3700500000
2025Free cash flow3783600000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

83.6% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.97%73%49%24%0%201620212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016Liabilities / assets73.9%
2017Liabilities / assets76.1%
2018Liabilities / assets79.1%
2019Liabilities / assets84.6%
2020Liabilities / assets89.9%
2021Liabilities / assets87%
2022Liabilities / assets81.5%
2023Liabilities / assets83.5%
2024Liabilities / assets84.2%
2025Liabilities / assets83.6%

Current assets to current liabilities

Current assets divided by current liabilities.

0.4× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.12×0.84×0.56×0.28×0.00×201620212025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016Current assets / current liabilities1.04×
2017Current assets / current liabilities0.81×
2018Current assets / current liabilities0.51×
2019Current assets / current liabilities0.47×
2020Current assets / current liabilities0.79×
2021Current assets / current liabilities0.41×
2022Current assets / current liabilities0.44×
2023Current assets / current liabilities0.51×
2024Current assets / current liabilities0.45×
2025Current assets / current liabilities0.4×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
USD 956.4 million
Exact value

Exact value: 956400000 USD

2016-01-01 – 2016-12-31: 956400000 USD Inspect Net Income Open source
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USD 2.7 billion
Exact value

Exact value: 2701700000 USD

2016-01-01 – 2016-12-31: 2701700000 USD Inspect Operating Cash Flow Open source
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USD 682.5 million
Exact value

Exact value: 682500000 USD

2016-01-01 – 2016-12-31: 682500000 USD Inspect Capital Expenditure Open source
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USD 2.02 billion
Calculation and evidence

2701700000 − 682500000 USD

Exact free cash flow: 2019200000 USD

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2017 2017-01-01 – 2017-12-31
USD 1.24 billion
Exact value

Exact value: 1238900000 USD

2017-01-01 – 2017-12-31: 1238900000 USD Inspect Net Income Open source
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USD 2.93 billion
Exact value

Exact value: 2925600000 USD

2017-01-01 – 2017-12-31: 2925600000 USD Inspect Operating Cash Flow Open source
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USD 803.6 million
Exact value

Exact value: 803600000 USD

2017-01-01 – 2017-12-31: 803600000 USD Inspect Capital Expenditure Open source
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USD 2.12 billion
Calculation and evidence

2925600000 − 803600000 USD

Exact free cash flow: 2122000000 USD

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2018 2018-01-01 – 2018-12-31
USD 1.24 billion
Exact value

Exact value: 1236400000 USD

2018-01-01 – 2018-12-31: 1236400000 USD Inspect Net Income Open source
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USD 3.75 billion
Exact value

Exact value: 3748300000 USD

2018-01-01 – 2018-12-31: 3748300000 USD Inspect Operating Cash Flow Open source
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USD 913.2 million
Exact value

Exact value: 913200000 USD

2018-01-01 – 2018-12-31: 913200000 USD Inspect Capital Expenditure Open source
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USD 2.84 billion
Calculation and evidence

3748300000 − 913200000 USD

Exact free cash flow: 2835100000 USD

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2019 2019-01-01 – 2019-12-31
USD 1.89 billion
Exact value

Exact value: 1887800000 USD

2019-01-01 – 2019-12-31: 1887800000 USD Inspect Net Income Open source
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USD 3.75 billion
Exact value

Exact value: 3752600000 USD

2019-01-01 – 2019-12-31: 3752600000 USD Inspect Operating Cash Flow Open source
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USD 991.3 million
Exact value

Exact value: 991300000 USD

2019-01-01 – 2019-12-31: 991300000 USD Inspect Capital Expenditure Open source
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USD 2.76 billion
Calculation and evidence

3752600000 − 991300000 USD

Exact free cash flow: 2761300000 USD

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2020 2020-01-01 – 2020-12-31
USD 1.69 billion
Exact value

Exact value: 1690600000 USD

2020-01-01 – 2020-12-31: 1690600000 USD Inspect Net Income Open source
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USD 3.88 billion
Exact value

Exact value: 3881400000 USD

2020-01-01 – 2020-12-31: 3881400000 USD Inspect Operating Cash Flow Open source
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USD 1.03 billion
Exact value

Exact value: 1031700000 USD

2020-01-01 – 2020-12-31: 1031700000 USD Inspect Capital Expenditure Open source
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USD 2.85 billion
Calculation and evidence

3881400000 − 1031700000 USD

Exact free cash flow: 2849700000 USD

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2021 2021-01-01 – 2021-12-31
Unavailable Not reported for this period.
USD 4.82 billion
Exact value

Exact value: 4819900000 USD

2021-01-01 – 2021-12-31: 4819900000 USD Inspect Operating Cash Flow Open source
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USD 1.38 billion
Exact value

Exact value: 1376700000 USD

2021-01-01 – 2021-12-31: 1376700000 USD Inspect Capital Expenditure Open source
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USD 3.44 billion
Calculation and evidence

4819900000 − 1376700000 USD

Exact free cash flow: 3443200000 USD

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2022 2022-01-01 – 2022-12-31
Unavailable Not reported for this period.
USD 3.7 billion
Exact value

Exact value: 3696200000 USD

2022-01-01 – 2022-12-31: 3696200000 USD Inspect Operating Cash Flow Open source
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USD 1.87 billion
Exact value

Exact value: 1873600000 USD

2022-01-01 – 2022-12-31: 1873600000 USD Inspect Capital Expenditure Open source
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USD 1.82 billion
Calculation and evidence

3696200000 − 1873600000 USD

Exact free cash flow: 1822600000 USD

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2023 2023-01-01 – 2023-12-31
Unavailable Not reported for this period.
USD 4.72 billion
Exact value

Exact value: 4722400000 USD

2023-01-01 – 2023-12-31: 4722400000 USD Inspect Operating Cash Flow Open source
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USD 1.8 billion
Exact value

Exact value: 1798100000 USD

2023-01-01 – 2023-12-31: 1798100000 USD Inspect Capital Expenditure Open source
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USD 2.92 billion
Calculation and evidence

4722400000 − 1798100000 USD

Exact free cash flow: 2924300000 USD

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2024 2024-01-01 – 2024-12-31
Unavailable Not reported for this period.
USD 5.29 billion
Exact value

Exact value: 5290500000 USD

2024-01-01 – 2024-12-31: 5290500000 USD Inspect Operating Cash Flow Open source
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USD 1.59 billion
Exact value

Exact value: 1590000000 USD

2024-01-01 – 2024-12-31: 1590000000 USD Inspect Capital Expenditure Open source
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USD 3.7 billion
Calculation and evidence

5290500000 − 1590000000 USD

Exact free cash flow: 3700500000 USD

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2025 2025-01-01 – 2025-12-31
Unavailable Not reported for this period.
USD 5.46 billion
Exact value

Exact value: 5464000000 USD

2025-01-01 – 2025-12-31: 5464000000 USD Inspect Operating Cash Flow Open source
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USD 1.68 billion
Exact value

Exact value: 1680400000 USD

2025-01-01 – 2025-12-31: 1680400000 USD Inspect Capital Expenditure Open source
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USD 3.78 billion
Calculation and evidence

5464000000 − 1680400000 USD

Exact free cash flow: 3783600000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

311 filings · 15,926 latest values · 15,916 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001053507, 1053507, AMT, edgar:1053507

Also known as AMERICAN TOWER CORP /MA/, AMERICAN TOWER CORPORATION, AMERICAN TOWER SYSTEMS CORP, American Tower Corporation