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American Tower Valuation Multiples

Discover revenue and EBITDA valuation multiples for American Tower and similar public comparables like Segro, HSI Renda ImobiliƔria, and Shurgard.

American Tower Overview

About American Tower

American Tower owns and operates more than 220,000 cell towers throughout the us, Asia, Latin America, Europe, and Africa. It also owns and/or operates 28 data centers in 10 us markets after acquiring CoreSite. On its towers, the company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company operates more than 40,000 towers in the us, which accounted for almost half of the company's total revenue in 2023. Outside the us, American Tower operates over 75,000 towers in India, almost 50,000 towers in Latin America (dominated by Brazil), 30,000 towers in Europe, and nearly 25,000 towers in Africa. American Tower operates as a REIT.


Founded

1995

HQ

United States of America
Employees

4.7K+

Financials

LTM Revenue $10.2B

LTM EBITDA $6.8B

EV

$141B

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American Tower Financials

American Tower has a last 12-month revenue of $10.2B and a last 12-month EBITDA of $6.8B.

In the most recent fiscal year, American Tower achieved revenue of $10.1B and an EBITDA of $7.2B.

American Tower expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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American Tower P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $11.1B $10.1B XXX XXX XXX
Gross Profit $7.4B $7.9B XXX XXX XXX
Gross Margin 67% 78% XXX XXX XXX
EBITDA $6.0B $7.2B XXX XXX XXX
EBITDA Margin 54% 71% XXX XXX XXX
Net Profit $1.8B $1.5B XXX XXX XXX
Net Margin 16% 15% XXX XXX XXX
Net Debt $36.6B $36.9B XXX XXX XXX

Financial data powered by Morningstar, Inc.

American Tower Stock Performance

As of March 14, 2025, American Tower's stock price is $211.

American Tower has current market cap of $98.6B, and EV of $141B.

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American Tower Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$141B $98.6B XXX XXX XXX XXX $5.15

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American Tower Valuation Multiples

As of March 14, 2025, American Tower has market cap of $98.6B and EV of $141B.

American Tower's trades at 13.8x LTM EV/Revenue multiple, and 20.6x LTM EBITDA.

Analysts estimate American Tower's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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American Tower Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $141B XXX XXX XXX
EV/Revenue 13.9x XXX XXX XXX
EV/EBITDA 19.6x XXX XXX XXX
P/E 43.7x XXX XXX XXX
P/E/Growth 2.1x XXX XXX XXX
EV/FCF 38.0x XXX XXX XXX

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American Tower Valuation Multiples

American Tower's NTM/LTM revenue growth is 2%

American Tower's revenue per employee for the last fiscal year averaged $2.2M, while opex per employee averaged $0.6M for the same period.

Over next 12 months, American Tower's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate American Tower's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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American Tower Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -9% XXX XXX XXX XXX
EBITDA Margin 71% XXX XXX XXX XXX
EBITDA Growth 19% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 73% XXX XXX XXX XXX
Revenue per Employee $2.2M XXX XXX XXX XXX
Opex per Employee $0.6M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 29% XXX XXX XXX XXX

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American Tower Public Comps

See public comps and valuation multiples for Buildings & Property and Data Centers comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Scentre Group XXX XXX XXX XXX XXX XXX
WOTSO Flexspace XXX XXX XXX XXX XXX XXX
Shurgard XXX XXX XXX XXX XXX XXX
HSI Renda ImobiliƔria XXX XXX XXX XXX XXX XXX
Segro XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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American Tower M&A and Investment Activity

American Tower acquired  XXX companies to date.

Last acquisition by American Tower was  XXXXXXXX, XXXXX XXXXX XXXXXX . American Tower acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by American Tower

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About American Tower

When was American Tower founded? American Tower was founded in 1995.
Where is American Tower headquartered? American Tower is headquartered in United States of America.
How many employees does American Tower have? As of today, American Tower has 4.7K+ employees.
Who is the CEO of American Tower? American Tower's CEO is Mr. Steven O. Vondran.
Is American Tower publicy listed? Yes, American Tower is a public company listed on NYS.
What is the stock symbol of American Tower? American Tower trades under AMT ticker.
When did American Tower go public? American Tower went public in 1998.
Who are competitors of American Tower? Similar companies to American Tower include e.g. Scentre Group, WOTSO Flexspace, Shurgard, HSI Renda ImobiliƔria.
What is the current market cap of American Tower? American Tower's current market cap is $98.6B
What is the current revenue of American Tower? American Tower's last 12-month revenue is $10.2B.
What is the current EBITDA of American Tower? American Tower's last 12-month EBITDA is $6.8B.
What is the current EV/Revenue multiple of American Tower? Current revenue multiple of American Tower is 13.8x.
What is the current EV/EBITDA multiple of American Tower? Current EBITDA multiple of American Tower is 20.6x.
What is the current revenue growth of American Tower? American Tower revenue growth between 2023 and 2024 was -9%.
Is American Tower profitable? Yes, American Tower is EBITDA-positive (as of the last 12 months).

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