American Tower Corporation (AMT) Fair Value & Analysis
Real Estate · US · Market cap $87.2B
American Tower Corporation
AMT · US
Fair value as of: Jul 25, 2026
From 26 valuation models · updated 13 days ago
Share price +3.6% over the past month.
A solid business, but screening 46% overvalued on our models.
What matters now
- The model range is unusually wide ($40.70 to $188.31). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.
How to read this chart
60‑month range $141.92 – $259.65 · fair‑value band $40.70 – $188.31 · the $171.20 price screens above the $92.31 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.
Analysis
American Tower Corporation (AMT) currently trades at $171.20, while our model-based Fair Value estimate is $92.31, implying the stock looks roughly 46.1% overvalued today. We read business quality at 56/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, American Tower Corporation generated revenue of $10.8B at a net margin of 26.8%. Revenue grew 6.8% year over year. It earns a return on equity of 30.0%. Net debt stands at $43.5B. Fundamentals as of Jul 25, 2026
Our scenario range runs from $40.70 (bear case) to $188.31 (bull case); at $171.20, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 24% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -54% fair-value upside, at -46%, AMT screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Dividend Discount ($109.09) versus Asset-Based ($5.25). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 25, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 39
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
American Tower Corporation is one of the largest global real estate investment trusts. It is a leading independent owner, operator and developer of multitenant communications real estate.
Full company description
American Tower Corporation is one of the largest global real estate investment trusts. It is a leading independent owner, operator and developer of multitenant communications real estate. The Company's primary business is the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a few other industries. The Company refers to this business, inclusive of its data center business discussed below, as its property operations. Additionally, the Company offers tower-related services in the United States, which the Company refers to as its services operations. These services include site application, zoning and permitting, structural and mount analyses, and construction management services, together with program management offerings that support customer deployment needs from project scoping through construction. The Company's services operations primarily support the Company's site leasing business, including through the addition of new tenants and equipment on its sites. The Company's customers include its tenants, licensees and other payers. American Tower Corporation was incorporated in 1995 in Delaware and is based in Massachusetts, Boston.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
American Tower Corporation reported revenue of $10.6B in FY2025 versus $9.4B in FY2021, a compound +3.3%/yr. Reported net income was $2.5B in FY2025, compounding −0.4%/yr from FY2021.
AMT screens 46% overvalued. Compare with Equinix, Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- How Record CoreSite Leasing And Strong Q2 Results At American Tower (AMT) Have Changed Its Investment Story
- American Tower Corp (AMT) Q2 2026 Earnings Call Highlights: Strong Global Leasing Demand and ...
- American Tower Raises Outlook as CoreSite Leasing Reaches Record
- American Tower Corporation Q2 2026 Earnings Call Summary
Peer Group
REIT - Specialty · 34 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs REIT - Specialty median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 66/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more REIT - Specialty stocks, each showing price versus our Fair Value estimate (as of Jul 25, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Equinix, Inc EQIX | $1,009 | $232.70 | -77% |
| Digital Realty Trust, Inc DLR | $199.08 | $63.31 | -68% |
| Iron Mountain Incorporated IRM | $128.31 | $40.43 | -68% |
| Crown Castle Inc CCI | $74.90 | $37.67 | -50% |
| SBA Communications Corporation SBAC | $173.57 | $143.83 | -17% |
| Weyerhaeuser Company WY | $23.94 | $8.62 | -64% |
| Lamar Advertising Company LAMR | $159.46 | $102.70 | -36% |
| Gaming and Leisure Properties, Inc GLPI | $45.17 | $36.60 | -19% |
| Rayonier Inc RYN | $21.58 | $9.96 | -54% |
| OUTFRONT Media Inc OUT | $32.03 | $12.00 | -63% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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