American Tower revenue and financials
$164.78Change from previous close: +1.55%Absolute change: +$2.52
In the fiscal year ended December 2025, American Tower reported revenue of $10.64B (+5.11% year over year). Net income was $2.63B, a net margin of 24.7%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +5.11%
- 2025 vs 2024
- Net income growth
- +15.27%
- 2025 vs 2024
- Net margin
- 24.7%
- 2024: 22.5%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 1,487 | 1,401 | 1,428 | 1,460 | 1,282 | 1,295 | 1,199 | 1,339 | 1,284 | 1,301 | 1,071 | 1,185 |
| Depreciation and amortization | 514 | 518 | 516 | 523 | 510 | 493 | 405 | 602 | 509 | 763 | 794 | 815 |
| Capital expenditure | -321 | -450 | -579 | -466 | -305 | — | — | — | — | — | — | — |
| Investing cash flow | -360 | -474 | -468 | -551 | -491 | -350 | -361 | -89.2 | -436 | -449 | -277 | -849 |
| Financing cash flow | -972 | -831 | -1,444 | -1,014 | -907 | — | — | — | — | — | — | — |
| Dividends paid | -835 | -807 | -796 | -796 | -796 | -769 | -758 | -757 | -802 | -732 | -734 | -685 |
| Share repurchases | -26.7 | -176 | -365 | — | 0.0 | 0.0 | — | — | — | — | — | -18.8 |
| Debt issued | 3,013 | 1,460 | 1,616 | 2,268 | 3,344 | 1,849 | 1,980 | 3,389 | 4,092 | 2,087 | 4,693 | 705 |
| Debt repaid | -3,048 | -1,226 | -1,650 | -2,482 | -3,478 | -1,841 | -1,994 | -3,621 | -3,568 | -2,028 | -4,898 | -1,030 |
| Effect of exchange rates | -0.4 | 36.8 | -11.2 | -4.1 | 86.7 | 29.9 | -104 | -120 | -34.0 | -61.6 | 3.6 | 17.8 |
| Net change in cash | 155 | 133 | -496 | -109 | -29.6 | 131 | -174 | 102 | 423 | 82.2 | -215 | -109 |
| Free cash flow | 1,166 | 951 | 848 | 995 | 977 | — | — | — | — | — | — | — |
| Levered free cash flow | 815 | 632 | 844 | 627 | 711 | 645 | 702 | 766 | 414 | 706 | 562 | 820 |