AMT · REIT · FFO, book-value and yield view
American Tower Corporation (AMT): Valuation Snapshot
American Tower Corporation (AMT) is a real-estate investment trust, and a discounted-cash-flow model is the wrong lens for one, so TickerWorth does not publish a DCF fair value for it. What its filings and market data do show is below. Snapshot as of Oct 19, 2026.
Model by Miraaj Patel · generated from public market data · Updated Oct 19, 2026 · How these pages are made
How is a REIT like AMT valued?
This is a REIT. A free-cash-flow DCF is structurally the wrong lens for property: heavy depreciation and continuous property capex swamp reported free cash flow, which is why REITs are valued on FFO/AFFO, net asset value and dividend yield. We show those lenses instead of a DCF number we would not stand behind.
What is AMT's TickerWorth Score?
Middle of the pack — real strengths and real weaknesses
Compared with Real Estate companies in US
Its strongest point: a profitable, high-quality business. Its weakest: looks expensive on the numbers.
- Value · 34 of 100
Cheaper than 34% of Real Estate companies in US
- Price vs worth · — of 100
- Quality · 76 of 100
More profitable than 76% of Real Estate companies in US
- Financial health · 28 of 100
Financially stronger than 28% of Real Estate companies in US
- Growth · 57 of 100
Growing faster than 57% of Real Estate companies in US
- Momentum · 63 of 100
Outperformed 63% of Real Estate companies in US over the past year
Confidence: Medium confidence · Scored
Get the Undervalued Company of the Week.
- Price
- $185.27
- Market cap
- $86,
328, 426, 496 - 52-week high
- $196.08
- 52-week low
- $160.06
- Currency
- USD
- Exchange
- NYSE
Snapshot of Oct 19, 2026, quote time not published · Prices are delayed.
What we can say
American Tower Corporation (AMT) is a real-estate investment trust, and a free-cash-flow discounted-cash-flow (DCF) model is structurally the wrong lens for one. A REIT's reported free cash flow is swamped by property depreciation and the continuous capital spending that maintaining a portfolio requires, which is why the industry is valued on funds from operations (FFO/AFFO), net asset value and dividend yield instead. We have the data to print a DCF number for AMT; we don't publish one because it would not mean what it appears to mean. What follows is how a REIT is actually read — descriptive, not a valuation, and not investment advice.
Read the full reasoning
On the numbers we do have, AMT trades at a recent price of $185.27, a market capitalisation of about $86,328,426,496, sitting 70% of the way up its 52-week range ($160.06–$196.08), on the NYSE.
The standard alternative to a DCF is relative valuation — comparing AMT's trading multiples against a sector benchmark. Here that gives P/E of 25.5× (cheaper than the peer median of 34.2×); Fwd P/E of 26.5× (cheaper than the peer median of 37.6×); P/B of 23.2× (richer than the peer median of 4.5×); P/S of 7.9× (cheaper than the peer median of 10.5×); EV/EBITDA of 19.3× (in line with the peer median of 21.0×); Dividend yield of 3.9% (in line with the peer median of 3.9%). A cheaper multiple than peers can flag a discount or a market that expects weaker growth; it is a comparison, not a recommendation.
The asset, or book-value, lens is the classic tool for asset-heavy businesses and financials. AMT shows a price-to-book (P/B) of 23.21 and book value of $7.98 per share. Price-to-book compares the market price to the accounting net-asset value per share; below 1.0 can mean a discount to net assets or that the market is pricing in trouble — descriptive either way, never a buy signal on its own.
Finally, a price-based read — explicitly not a valuation. AMT is in a mixed trend, trading -5.5% from its 52-week high. Over the past year the stock is -4.0%. Moving-average trend and 52-week position describe where the stock has traded; they say nothing about what it is worth.
To be exact about what this page is not: we are not saying the numbers for AMT are unavailable. They are, and they are above. We are saying a discounted-cash-flow model is the wrong instrument for this kind of business, and publishing one anyway — because the inputs happen to exist — would be a precise answer to the wrong question. Refusing is the more useful answer, and it is the same rule we apply to every name in this category.
AMT vs peers
Sector benchmark (bellwethers, not direct competitors).
| Multiple | AMT | Peer median | Read |
|---|---|---|---|
| P/E | 25.5× | 34.2× | cheaper than |
| Fwd P/E | 26.5× | 37.6× | cheaper than |
| P/B | 23.2× | 4.5× | richer than |
| P/S | 7.9× | 10.5× | cheaper than |
| EV/EBITDA | 19.3× | 21.0× | in line with |
| Dividend yield | 3.9% | 3.9% | in line with |
What does American Tower Corporation do?
What does it do?
American Tower Corporation one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 148,000 communications sites and a highly interconnected footprint of U.S. data center facilities. It operates in the REIT - Specialty industry (Real Estate sector), headquartered in United States. The company employs roughly 4,866 people.
How does it make money?
The business turns $936M in annual revenue into profit. Out of every $100 of sales, about $45 is left as operating profit (operating margin of 45.4%), after a 74% gross margin on the products/services it sells. After all costs, taxes and interest, 31.1% of revenue becomes bottom-line net profit.
Is it financially healthy?
Financially it looks stretched: carries heavy debt (4.4× equity), may struggle to cover its short-term bills (0.4× current ratio), and is currently profitable.
Who at AMT filed insider trades?
| Date | Insider | Relationship | What happened | Value | Filing |
|---|---|---|---|---|---|
| Blanchett Paul | SVP & Chief Accounting Officer | Grant / award | — | Form 4 for Blanchett Paul (opens sec.gov in a new tab) | |
| Kalathur Rajesh | Director | Open-market buy | $500,733.00 | Form 4 for Kalathur Rajesh (opens sec.gov in a new tab) | |
| Meyer Robert Joseph | SVP & Advisor to the CFO | Open-market sale | $894,450.00 | Form 4 for Meyer Robert Joseph (opens sec.gov in a new tab) | |
| Dowling Ruth T | EVP, Chief Admin Ofr, GC & Sec | Open-market sale | $193,505.76 | Form 4 for Dowling Ruth T (opens sec.gov in a new tab) | |
| Dowling Ruth T | EVP, Chief Admin Ofr, GC & Sec | Open-market sale | $116,134.90 | Form 4 for Dowling Ruth T (opens sec.gov in a new tab) | |
| Meyer Robert Joseph | SVP & Advisor to the CFO | Shares withheld (tax) | $28,692.09 | Form 4 for Meyer Robert Joseph (opens sec.gov in a new tab) |
A disclosure, not a signal to trade. Source: SEC EDGAR (Form 4). Older filings and the 90-day buying-and-selling read are part of Pro. See plans
Companies we do put a number on
Not investment advice. TickerWorth Score is a model output.
A descriptive, available-data snapshot and relative comparison — NOT a DCF, NOT a price target, and NOT investment advice. TickerWorth is not a licensed investment adviser, and these figures are estimates from public market data that can be wrong, stale or incomplete.