American Tower Corp (AMT) stock
AMTNYSEReal Estate Investment TrustsFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 27, 2026Score 7/306% above fair value
$191.64+1.85 (+0.97%)
Close on Nov 13, 2026Market cap $88.88BP/E 27.0Yield 3.55%
American Tower operating margin
Operating margin is operating income as a percentage of revenue.
American Tower's operating margin for the twelve months ending Sep 30, 2026 was 44.8%. For fiscal 2025 it was 45.5%, against 44.6% the year before. The highest annual figure on record is 45.5% in fiscal 2025.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 45.5% | +0.9 |
| FY2024 | Dec 31, 2024 | 44.6% | +13.4 |
| FY2023 | Dec 31, 2023 | 31.2% | +2.8 |
| FY2022 | Dec 31, 2022 | 28.4% | −5.1 |
| FY2021 | Dec 31, 2021 | 33.5% | −2.4 |
| FY2020 | Dec 31, 2020 | 35.9% | +0.4 |
| FY2019 | Dec 31, 2019 | 35.5% | +9.9 |
| FY2018 | Dec 31, 2018 | 25.6% | −4.4 |
| FY2017 | Dec 31, 2017 | 30.0% | −2.0 |
| FY2016 | Dec 31, 2016 | 32.0% | −1.8 |
| FY2015 | Dec 31, 2015 | 33.8% | −2.5 |
| FY2014 | Dec 31, 2014 | 36.3% | +0.1 |
| FY2013 | Dec 31, 2013 | 36.1% | −2.8 |
| FY2012 | Dec 31, 2012 | 38.9% | +1.3 |
| FY2011 | Dec 31, 2011 | 37.7% | −1.9 |
| FY2010 | Dec 31, 2010 | 39.5% | +0.5 |
| FY2009 | Dec 31, 2009 | 39.0% | +0.9 |
| FY2008 | Dec 31, 2008 | 38.1% | +12.1 |
| FY2007 | Dec 31, 2007 | 26.0% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 45.6% | +0.2 |
| Q2 FY2026 | Jun 30, 2026 | 46.2% | +0.6 |
| Q1 FY2026 | Mar 31, 2026 | 45.3% | −3.7 |
| Q4 FY2025 | Dec 31, 2025 | 42.4% | +0.0 |
| Q3 FY2025 | Sep 30, 2025 | 45.4% | +0.2 |
| Q2 FY2025 | Jun 30, 2025 | 45.6% | +0.2 |
| Q1 FY2025 | Mar 31, 2025 | 48.9% | +3.5 |
| Q4 FY2024 | Dec 31, 2024 | 42.4% | +17.4 |
| Q3 FY2024 | Sep 30, 2024 | 45.2% | +9.0 |
| Q2 FY2024 | Jun 30, 2024 | 45.4% | +11.5 |
| Q1 FY2024 | Mar 31, 2024 | 45.4% | +15.8 |
| Q4 FY2023 | Dec 31, 2023 | 25.0% | −10.3 |
| Q3 FY2023 | Sep 30, 2023 | 36.2% | +11.8 |
| Q2 FY2023 | Jun 30, 2023 | 33.9% | +4.7 |
| Q1 FY2023 | Mar 31, 2023 | 29.6% | +2.4 |
| Q4 FY2022 | Dec 31, 2022 | 35.3% | +9.7 |
| Q3 FY2022 | Sep 30, 2022 | 24.4% | −9.3 |
| Q2 FY2022 | Jun 30, 2022 | 29.3% | −7.7 |
| Q1 FY2022 | Mar 31, 2022 | 27.3% | −11.1 |
| Q4 FY2021 | Dec 31, 2021 | 25.6% | −6.1 |
| Q3 FY2021 | Sep 30, 2021 | 33.7% | −5.3 |
| Q2 FY2021 | Jun 30, 2021 | 36.9% | +0.8 |
| Q1 FY2021 | Mar 31, 2021 | 38.4% | +1.4 |
| Q4 FY2020 | Dec 31, 2020 | 31.8% | −2.6 |
| Q3 FY2020 | Sep 30, 2020 | 39.0% | +1.7 |
| Q2 FY2020 | Jun 30, 2020 | 36.1% | −0.1 |
| Q1 FY2020 | Mar 31, 2020 | 37.0% | +3.1 |
| Q4 FY2019 | Dec 31, 2019 | 34.4% | +16.1 |
| Q3 FY2019 | Sep 30, 2019 | 37.3% | +5.5 |
| Q2 FY2019 | Jun 30, 2019 | 36.2% | +5.5 |
| Q1 FY2019 | Mar 31, 2019 | 33.9% | +10.8 |
| Q4 FY2018 | Dec 31, 2018 | 18.2% | −1.1 |
| Q3 FY2018 | Sep 30, 2018 | 31.8% | −1.6 |
| Q2 FY2018 | Jun 30, 2018 | 30.7% | −4.0 |
| Q1 FY2018 | Mar 31, 2018 | 23.1% | −9.7 |
| Q4 FY2017 | Dec 31, 2017 | 19.3% | −12.5 |
| Q3 FY2017 | Sep 30, 2017 | 33.4% | – |
| Q2 FY2017 | Jun 30, 2017 | 34.7% | – |
| Q1 FY2017 | Mar 31, 2017 | 32.9% | – |
| Q4 FY2016 | Dec 31, 2016 | 31.8% | – |
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