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American Tower Valuation Multiples
Discover revenue and EBITDA valuation multiples for American Tower and similar public comparables like Equinix, Vertiv, NTT Group, Simon Property Group and more.
American Tower Overview
About American Tower
American Tower owns and operates about 150,000 wireless towers throughout the US, Asia, Latin America, Europe, and Africa. It also owns and/or operates 30 data centers in 11 US markets after acquiring CoreSite. On its towers, the company has a very concentrated customer base, with most revenue in each market generated by the top few mobile carriers. The company operates more than 40,000 towers in the US, which accounted for about half of total revenue in 2024. Outside the US, American Tower operates about 47,000 towers in Latin America (dominated by Brazil), 32,000 towers in Europe, and 27,000 towers in Africa. American Tower operates as a REIT.
Founded
1995
HQ
Employees
4.9K
Website
Financials (LTM)
EV
$132B
American Tower Financials
American Tower reported last 12-month revenue of $11B and EBITDA of $7B.
In the same LTM period, American Tower generated $8B in gross profit, $7B in EBITDA, and $3B in net income.
Revenue (LTM)
American Tower P&L
In the most recent fiscal year, American Tower reported revenue of $11B and EBITDA of $7B.
American Tower expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $11B | XXX | $11B | XXX | XXX | XXX |
| Gross Profit | $8B | XXX | $8B | XXX | XXX | XXX |
| Gross Margin | 74% | XXX | 74% | XXX | XXX | XXX |
| EBITDA | $7B | XXX | $7B | XXX | XXX | XXX |
| EBITDA Margin | 67% | XXX | 67% | XXX | XXX | XXX |
| EBIT Margin | 46% | XXX | 46% | XXX | XXX | XXX |
| Net Profit | $3B | XXX | $3B | XXX | XXX | XXX |
| Net Margin | 25% | XXX | 24% | XXX | XXX | XXX |
| Net Debt | — | — | $36B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
American Tower Stock Performance
American Tower has current market cap of $89B, and enterprise value of $132B.
Market Cap Evolution
American Tower's stock price is $190.20.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $132B | $89B | 0.0% | XXX | XXX | XXX | $5.40 |
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Start Free TrialAmerican Tower Valuation Multiples
American Tower trades at 12.4x EV/Revenue multiple, and 18.5x EV/EBITDA.
EV / Revenue (LTM)
American Tower Financial Valuation Multiples
As of March 21, 2026, American Tower has market cap of $89B and EV of $132B.
Equity research analysts estimate American Tower's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
American Tower has a P/E ratio of 33.7x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $89B | XXX | $89B | XXX | XXX | XXX |
| EV (current) | $132B | XXX | $132B | XXX | XXX | XXX |
| EV/Revenue | 12.4x | XXX | 12.4x | XXX | XXX | XXX |
| EV/EBITDA | 18.5x | XXX | 18.5x | XXX | XXX | XXX |
| EV/EBIT | 27.0x | XXX | 26.8x | XXX | XXX | XXX |
| EV/Gross Profit | 16.7x | XXX | 16.7x | XXX | XXX | XXX |
| P/E | 33.7x | XXX | 35.2x | XXX | XXX | XXX |
| EV/FCF | 30.4x | XXX | 30.1x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified American Tower Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
American Tower Margins & Growth Rates
American Tower's revenue in the last 12 month grew by 2%.
American Tower's revenue per employee in the last FY averaged $2.2M.
American Tower's rule of 40 is 69% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
American Tower's rule of X is 71% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
American Tower Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 2% | XXX | 1% | XXX | XXX | XXX |
| EBITDA Margin | 67% | XXX | 67% | XXX | XXX | XXX |
| EBITDA Growth | 1% | XXX | (0%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 69% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 71% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $2.2M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 7% | XXX | — | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 28% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
American Tower Public Comps
See public comps and valuation multiples for other Buildings & Property and Data Centers comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Equinix | XXX | XXX | XXX | XXX | XXX | XXX |
| Vertiv | XXX | XXX | XXX | XXX | XXX | XXX |
| NTT Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Simon Property Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Realty Income | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
American Tower M&A Activity
American Tower acquired XXX companies to date.
Last acquisition by American Tower was on XXXXXXXX, XXXXX. American Tower acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by American Tower
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAmerican Tower Investment Activity
American Tower invested in XXX companies to date.
American Tower made its latest investment on XXXXXXXX, XXXXX. American Tower invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by American Tower
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout 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. |
| How many employees does American Tower have? | As of today, American Tower has over 4K employees. |
| Who is the CEO of American Tower? | American Tower's CEO is Juan A. Font. |
| Is American Tower publicly listed? | Yes, American Tower is a public company listed on NYSE. |
| 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? | American Tower main competitors are Equinix, Vertiv, NTT Group, Simon Property Group. |
| What is the current market cap of American Tower? | American Tower's current market cap is $89B. |
| What is the current revenue of American Tower? | American Tower's last 12 months revenue is $11B. |
| What is the current revenue growth of American Tower? | American Tower revenue growth (NTM/LTM) is 2%. |
| What is the current EV/Revenue multiple of American Tower? | Current revenue multiple of American Tower is 12.4x. |
| Is American Tower profitable? | Yes, American Tower is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of American Tower? | American Tower's last 12 months EBITDA is $7B. |
| What is American Tower's EBITDA margin? | American Tower's last 12 months EBITDA margin is 67%. |
| What is the current EV/EBITDA multiple of American Tower? | Current EBITDA multiple of American Tower is 18.5x. |
| What is the current FCF of American Tower? | American Tower's last 12 months FCF is $4B. |
| What is American Tower's FCF margin? | American Tower's last 12 months FCF margin is 41%. |
| What is the current EV/FCF multiple of American Tower? | Current FCF multiple of American Tower is 30.4x. |
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