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American Tower Corporation Competitors & Alternatives

American Tower Corporation competitors and alternatives include Equinix, etc.…

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Company
Company
Ticker
AMT
EQIX
Headquarter
Boston ,MA
US
Redwood City ,CA
US
CEO
Steven O. Vondran
Adaire Rita Fox-Martin
Industry
REIT - Specialty
REIT - Specialty
Stock Price
Stock Price
Market Cap
Market Cap
$89.82 B
$95.73 B
Employees
Years
  • 2024
  • 2025
  • 2026
  • 2024
  • 2025
  • 2026
Employees
  • 5.64 K
  • 4.69 K
  • 4.87 K
  • 13.15 K
  • 13.61 K
  • 13.72 K
Y/Y
11.7%
16.87%
3.73%
8.71%
3.46%
0.81%

Income Statement

Revenue
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Revenue
  • $9.65 B
  • $10.01 B
  • $10.13 B
  • $8.19 B
  • $8.75 B
  • $9.22 B
Y/Y
3.08%
3.8%
1.15%
12.74%
6.84%
5.36%
Revenue by Products / Services
Years
  • 2025
  • 2025
Revenue by Geography
Years
  • 2025
  • 2025
Research and Development
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Research and Development
  • -
  • -
  • -
  • -
  • -
  • -
Y/Y
0%
0%
0%
0%
0%
0%
Operating Income
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Operating Income
  • $2.74 B
  • $3.13 B
  • $4.52 B
  • $1.44 B
  • $1.33 B
  • $1.85 B
Y/Y
12.56%
14.13%
44.5%
20.25%
7.97%
39.16%
Tax Rate (%)
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Tax Rate (%)
  • 5.41%
  • 5.94%
  • 10.11%
  • 13.79%
  • 16.51%
  • -10.61%
Y/Y
41.56%
9.8%
70.2%
7.81%
19.74%
164.25%
Net Income
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Net Income
  • $1.77 B
  • $1.48 B
  • $2.26 B
  • $969.18 M
  • $815.00 M
  • $1.35 B
Y/Y
31.23%
16%
52.03%
37.6%
15.91%
65.64%
Revenue Per Employee
Years
  • 2024
  • 2025
  • 2026
  • 2024
  • 2025
  • 2026
Revenue Per Employee
  • $1.79 M
  • -
  • -
  • $665.20 K
  • $677.42 K
  • -
Y/Y
14.56%
100%
0%
1.73%
1.84%
100%
Net Income Per Employee
Years
  • 2024
  • 2025
  • 2026
  • 2024
  • 2025
  • 2026
Net Income Per Employee
  • $399.61 K
  • -
  • -
  • $61.97 K
  • $99.22 K
  • -
Y/Y
72.18%
100%
0%
22.65%
60.1%
100%

Assets & Liabilities | Cash Flow

Total Assets
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Total Assets
  • $67.19 B
  • $66.03 B
  • $61.08 B
  • $32.65 B
  • $35.09 B
  • $40.14 B
Y/Y
3.85%
1.74%
7.5%
7.72%
7.45%
14.41%
Total Liabilities
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Total Liabilities
  • $54.79 B
  • $55.16 B
  • $51.43 B
  • $20.14 B
  • $21.53 B
  • $25.96 B
Y/Y
9.92%
0.69%
6.77%
7.08%
6.93%
20.57%
Capital Expenditures (Capex)
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Capital Expenditures (Capex)
  • -$1.87 B
  • -$1.80 B
  • -$1.59 B
  • -$2.78 B
  • -$3.07 B
  • -
Y/Y
36.09%
4.03%
11.57%
22.08%
10.25%
100%

Profitability

Operating Income Margin (%)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Operating Income Margin (%)
  • 31.22%
  • 44.60%
  • 45.85%
  • 17.62%
  • 15.18%
  • 3.06%
Y/Y
9.95%
42.86%
2.8%
6.67%
13.86%
79.85%
Net Income Margin (%)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Net Income Margin (%)
  • 14.81%
  • 22.27%
  • 23.76%
  • 11.84%
  • 9.32%
  • 14.65%
Y/Y
19.08%
50.3%
6.73%
22.05%
21.29%
57.22%
EBITDA
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
EBITDA
  • $6.58 B
  • $6.00 B
  • $7.15 B
  • $3.37 B
  • $3.44 B
  • $1.85 B
Y/Y
9.02%
8.71%
19.16%
15.37%
2.08%
46.29%
Free Cash Flow (FCF)
Years
  • 2022
  • 2023
  • 2024
  • 2023
  • 2024
  • 2025
Free Cash Flow (FCF)
  • $1.82 B
  • $2.92 B
  • $3.70 B
  • $435.58 M
  • $183.00 M
  • $3.91 B
Y/Y
47.07%
60.45%
26.54%
36.43%
57.99%
2037.16%

Ratios

Return on Equity (ROE)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Return on Equity (ROE)
  • 35.33%
  • 66.67%
  • 69.26%
  • 7.76%
  • 6.02%
  • 9.54%
Y/Y
11.5%
88.7%
3.88%
26.77%
22.37%
58.3%
Return on Assets (ROA)
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Return on Assets (ROA)
  • 2.25%
  • 3.69%
  • 4.33%
  • 2.97%
  • 2.32%
  • 3.36%
Y/Y
14.51%
64.35%
17.2%
27.74%
21.74%
44.78%
Debt to Equity
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Debt to Equity
  • 1,103.02%
  • 1,299.57%
  • 1,231.04%
  • 139.75%
  • 140.16%
  • 160.54%
Y/Y
30.63%
17.82%
5.27%
2.36%
0.29%
14.54%

Valuation

Enterprise Value
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Enterprise value
  • $145.17 B
  • $127.61 B
  • $125.86 B
  • $90.75 B
  • $105.89 B
  • $94.01 B
Y/Y
1.66%
12.1%
1.37%
21.75%
16.67%
11.22%
Enterprise value to Revenue
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Enterprise value to Revenue
  • 14.50
  • 12.60
  • 11.82
  • 11.08
  • 12.10
  • 10.20
Y/Y
2.07%
13.09%
6.17%
7.99%
9.21%
15.73%
Enterprise value to EBITDA
Years
  • 2023
  • 2024
  • 2025
  • 2023
  • 2024
  • 2025
Enterprise value to EBITDA
  • 24.18
  • 17.84
  • 19.64
  • 26.92
  • 30.77
  • 50.87
Y/Y
11.36%
26.23%
10.09%
5.53%
14.3%
65.31%

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