{ "ok": true, "cik": "1053507", "ticker": "AMT", "name": "AMERICAN TOWER CORP /MA/", "filings": [ { "form": "8-K", "filed": "2026-09-18", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1053507/000105350726000145/0001053507-26-000145-index.htm" }, { "form": "8-K", "filed": "2026-09-14", "items": [ "1.01 Entry into a Material Definitive Agreement", "2.03 Creation of a Direct Financial Obligation", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1053507/000119312526390605/0001193125-26-390605-index.htm" }, { "form": "8-K", "filed": "2026-09-09", "items": [ "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1053507/000105350726000141/0001053507-26-000141-index.htm" }, { "form": "10-Q", "filed": "2026-07-28", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1053507/000105350726000133/0001053507-26-000133-index.htm" }, { "form": "8-K", "filed": "2026-07-28", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1053507/000105350726000131/0001053507-26-000131-index.htm" }, { "form": "8-K", "filed": "2026-06-04", "items": [ "8.01 Other Events" ], "url": "https://www.sec.gov/Archives/edgar/data/1053507/000105350726000127/0001053507-26-000127-index.htm" } ], "events12m": 23, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001053507.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1053507" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets, no buy or sell views.", "edgar": "🫧 Edgar looked up AMERICAN TOWER CORP /MA/ ($AMT). Last filing: 8-K (5.02 Departure or Election of Directors; Appointment of Officers), 2026-09-18. 23 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 10644600000, "revenueGrowth1y": 0.051090133501856316, "revenueGrowthPerYear": 0.032759835204690946, "yearsOfData": 5, "operatingMargin": 0.45523551847885313, "operatingMarginPrior": 0.44597717039260604, "netMargin": 0.2469327170584146, "operatingCashFlow": 5464000000, "capitalSpending": 1680400000, "freeCashFlow": 3783600000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 1474800000, "longTermDebt": 37220300000, "longTermDebtChange": 0.019683960790974675, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 9356900000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 9645400000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 10012200000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 10127200000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 10644600000 } ], "totalEquity": 3652500000, "totalAssets": 63190400000, "equityRatio": 0.05780150149389781, "returnOnEquity": 0.7196440793976728, "dividendsPaid": 3180800000, "payoutRatio": 1.2101198402130493, "dividendPerShare": 6.8, "dividendYearsRising": 6, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "range80": { "low": 8768932816.291643, "high": 12583152328.236315, "baseline": 11094297591.4621, "n": 1471, "band": "b10" }, "ifPaceHeld": { "low": 8768932816.291643, "high": 12583152328.236315 } }, "edgarette": "🔖 Exposure: revenue $10.6B (FY2025), total debt $37.2B. Experience: revenue up 5.1% on the year, up 3.3% a year over 4 years; operating margin 45.5%, up from 44.6%. Soundness: equity 5.8% of assets, return on equity 72.0%, payout 121.0% of profit, dividend per share up 6 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $8.8B and $12.6B next year (method v3, set from 1,471 SEC company-years; on a year the method never saw, 83% landed inside). A range, not a forecast. Against peers (79 filers, $50M+ revenue, real estate investment trusts): operating margin 45.5% against a 24.7% median; growth 5.1% against 3.7%.", "peers": { "sic": 6798, "sicDescription": "Real Estate Investment Trusts", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6798", "growth": [ 0.0366, 157 ], "opMargin": [ 0.2474, 79 ], "equityRatio": [ 0.3883, 154 ], "returnOnEquity": [ 0.0254, 128 ], "payoutRatio": [ 1.5128, 81 ] }, "summary": "American Tower (AMT) grew revenue 5.1% in FY2025 to $10.6 billion, operating margin 45.5% against a 24.7% median for real estate investment trusts, equity 5.8% of assets, and dividend per share up 6 years running. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
AMERICAN TOWER CORP /MA/ against its own record and its peers
Operating marginPeer median 24.7%45.5%Revenue, on the yearPeer median 3.7%5.1%Equity of assetsPeer median 38.8%5.8%Return on equityPeer median 2.5%72.0%Payout of profitPeer median 151.3%121.0%Gold tick: the median of 81–154 peers with $50M+ revenue in real estate investment trusts
", "chartHorizon": "
Handed back now, or kept to compound
Of each dollar of profit120.0% paid outMore was paid out than was earned in the year.Handed back per share$6.8up 6 years runningGrowth its own profit can fund0.0%retained x return on equityRevenue growth it managed5.1%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 15, "hits": 15, "rate": 1, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T13:14:23.126Z", "hash": "0535ad6868e114ef", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "American Tower (AMT) grew revenue 5.1% in FY2025 to $10.6 billion, operating margin 45.5% against a 24.7% median for real estate investment trusts, equity 5.8% of assets, and dividend per share up 6 years running. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 10644600000, "totalDebt": 37220300000, "cash": 1474800000 }, "experience": { "revenueGrowth1y": 0.051090133501856316, "revenueGrowthPerYear": 0.032759835204690946, "operatingMargin": 0.45523551847885313, "operatingMarginPrior": 0.44597717039260604, "netMargin": 0.2469327170584146, "freeCashFlow": 3783600000 }, "soundness": { "equityRatio": 0.05780150149389781, "returnOnEquity": 0.7196440793976728, "payoutRatio": 1.2101198402130493, "dividendPerShare": 6.8, "dividendYearsRising": 6, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 6798, "sicDescription": "Real Estate Investment Trusts", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6798", "growth": [ 0.0366, 157 ], "opMargin": [ 0.2474, 79 ], "equityRatio": [ 0.3883, 154 ], "returnOnEquity": [ 0.0254, 128 ], "payoutRatio": [ 1.5128, 81 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "range": { "low": 8768932816.291643, "high": 12583152328.236315, "baseline": 11094297591.4621, "coverage": 0.8, "method": "v3", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); range = 10th to 90th percentile of how SEC company-years of the same size band actually turned out", "calibratedOn": { "companyYears": 1471, "sizeBand": "b10" }, "kind": "a calibrated range, not a forecast; no view on the share price", "track": { "backtest": { "tests": 15, "hits": 15, "rate": 1, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T13:14:23.126Z", "hash": "0535ad6868e114ef", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001053507.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1053507" } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same if-the-pace-held arithmetic applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so." } }