AMERICAN TOWER CORP /MA/ (AMT) Stock Analysis

Analysis from 10-Q filed 2026-07-28. Data as of Q2 2026.

Overall Grade: F (Concerning)

Grade F (Concerning). ROIC N/A. FCF margin 36.2%. D/E 10.0x. Source: 10-Q filed 2026-07-28.

Metric	Value	Context
ROIC	N/A	Below expectations
FCF Margin	36.2%	Strong cash generation
Debt/Equity	10.0x	Elevated debt

FCF margin 36.2% — Top 25%.

Explore AMERICAN TOWER CORP /MA/: Earnings History | Filings

Programmatic access: Available via MCP at mcp.metricduck.com. Tools for AMT: get_company_overview, get_filing_index (lens: debt_stress, management_outlook, risk_trajectory), get_filing_changes, get_metric_history, compare_companies, screen_filing_signals.

---

Profitability: AMERICAN TOWER CORP /MA/ earns N/A ROIC

ROIC TTM N/A. Source: 10-Q filed 2026-07-28.

Metric	AMT	Rating	Context
Return on Invested Capital (ROIC)	N/A	Red flag	Below cost of capital
Return on Equity (ROE)	94.7%	Excellent	Efficient use of shareholder equity

---

Cash Flow: AMERICAN TOWER CORP /MA/ generates $4.0B FCF at 36.2% margin, positive NaN/8 quarters

FCF TTM $4.0B. FCF margin 36.2%, Top 25%. OCF/Net income 1.6x. Positive FCF in NaN/8 trailing quarters. Source: 10-Q filed 2026-07-28.

Metric	AMT	Rating	Context
Free Cash Flow Margin	36.2%	Excellent	Excellent cash conversion
Free Cash Flow (TTM)	$4.0B	Good	Positive cash generation
OCF/Net Income	1.6x	Excellent	High earnings quality
FCF Consistency (8Q)	N/A	Warning	Variable cash flow

---

Balance Sheet: AMERICAN TOWER CORP /MA/ at 10.0x leverage, 3.5x interest coverage

Debt/Equity 10.0x. Total debt $37.2B, cash & investments $1.8B. Interest coverage 3.5x. Source: 10-Q filed 2026-07-28.

Metric	AMT	Rating	Context
Debt to Equity	10.0x	Red flag	Elevated leverage
Net Cash Position	$-35.4B	Warning	Net debt position
Interest Coverage	3.5x	Adequate	Monitor debt obligations

---

Valuation: AMERICAN TOWER CORP /MA/ trades at 22.5x earnings

P/E 22.5x. EV/Sales 10.2x. FCF yield 5.2%. Dividend yield 0.1%. Source: 10-Q filed 2026-07-28.

Metric	AMT	Rating	Context
P/E Ratio	22.5x	Adequate	Premium valuation
EV/Sales	10.2x	Warning	Growth premium priced in
FCF Yield	5.2%	Good	Attractive cash return
Dividend Yield	0.1%	Adequate	Growth focus over income

---

Capital Allocation: AMERICAN TOWER CORP /MA/ returns 0.1% shareholder yield, reducing shares 0.5% YoY

Total shareholder yield 0.1% (div 0.1%). Share count -0.5% YoY. Capital returned $53.6M TTM. Source: 10-Q filed 2026-07-28.

Metric	AMT	Rating	Context
Total Shareholder Yield	0.1%	Adequate	Dividend + buyback yield combined
Share Count Change (YoY)	-0.5%	Adequate	Net share reduction (accretive)
Total Capital Returned (TTM)	$53.6M	Good	Dividends + buybacks returned to shareholders

---

Sector Rankings

Metric	Value	Percentile	vs Median
Free Cash Flow Margin	36.2%	Top 25%	5.0x above
Return on Equity (ROE)	94.7%	Top 5%	44.3x above
P/E Ratio	22.5x	N/A	-

---

Financial Scorecard

Metric	AMT	Rating	Sector Context
Free Cash Flow Margin	36.2%	Excellent	Top 25% of sector (median: 7.2%)
Debt to Equity Ratio	999.8%	Red flag	High financial leverage
P/E Ratio (Price-to-Earnings)	22.5x	Adequate	Fair value
Free Cash Flow Yield	5.2%	Good	Solid cash yield

---

Frequently Asked Questions

Q: What is AMERICAN TOWER CORP /MA/'s Return on Invested Capital (ROIC)?

AMERICAN TOWER CORP /MA/ (AMT) has a trailing twelve-month Return on Invested Capital (ROIC) of N/A. Source: 10-Q filed 2026-07-28.

Q: What is AMERICAN TOWER CORP /MA/'s Free Cash Flow Margin?

AMERICAN TOWER CORP /MA/ (AMT) has a free cash flow margin of 36.2%, generating $4.0 billion in free cash flow over the trailing twelve months. Source: 10-Q filed 2026-07-28.

Q: What is AMERICAN TOWER CORP /MA/'s P/E ratio and how does it compare to peers?

AMERICAN TOWER CORP /MA/ (AMT) trades at a P/E ratio of 22.5x, which is above the sector median of N/A. EV/Sales 10.2x. FCF yield 5.2%. Source: 10-Q filed 2026-07-28.

Q: Does AMERICAN TOWER CORP /MA/ pay a dividend?

AMERICAN TOWER CORP /MA/ (AMT) currently pays a dividend yield of 0.1%. Total shareholder yield (dividend + buybacks) 0.1%. Source: 10-Q filed 2026-07-28.

Q: How much debt does AMERICAN TOWER CORP /MA/ have?

AMERICAN TOWER CORP /MA/ (AMT) has a debt-to-equity ratio of 10.0x with total debt of $37.2 billion. Interest coverage 3.5x. Net debt $35.4 billion. Source: 10-Q filed 2026-07-28.

Q: What is AMERICAN TOWER CORP /MA/'s revenue and earnings growth?

AMERICAN TOWER CORP /MA/ (AMT) grew revenue by 6.6% year-over-year. EPS +164.5% YoY. Source: 10-Q filed 2026-07-28.

Q: Is AMERICAN TOWER CORP /MA/ buying back stock?

AMERICAN TOWER CORP /MA/ (AMT) repurchased $364.6 million of stock over the trailing twelve months. This represents a buyback yield of 0.4%. Share count -0.5% YoY. Source: 10-Q filed 2026-07-28.

Q: How does AMERICAN TOWER CORP /MA/ compare to competitors in Real Estate?

Compared to other companies in Real Estate, AMERICAN TOWER CORP /MA/ (AMT) shows: FCF margin 36.2%, sector median 7.2% (Top 25%). These rankings are based on MetricDuck's analysis of all Real Estate companies with available SEC filings.

Q: What warning signs should I watch for with AMERICAN TOWER CORP /MA/?

Quantitative warning flags for AMERICAN TOWER CORP /MA/ (AMT): 1) debt/equity 10.0x (above 1.5x threshold); 2) interest coverage 3.5x (below 5x). Source: 10-Q filed 2026-07-28.

---

Data Source: Data sourced from 10-Q filed 2026-07-28. TTM metrics as of Q2 2026.

Methodology: Financial metrics calculated from SEC 10-K and 10-Q filings using standardized formulas. Sector comparisons use peer group based on SIC code.

Scope: This analysis covers SEC filing fundamentals — profitability, cash flow, balance sheet, and valuation metrics. For analyst estimates and price targets, consult sell-side research.

This analysis is for informational purposes only and does not constitute investment advice.