American Tower (AMT) Cost of Revenue (2009 - 2026)
American Tower's Cost of Revenue came in at $33.4 million for Q2 2026, down 30.6% from $48.1 million a year earlier and down 13.2% from the prior quarter.
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Analysis
American Tower (AMT) Cost of Revenue (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, American Tower reported Cost of Revenue of $162.9 million, up 16.6% year-over-year; for FY2025, it was $174 million, up 87.9% from FY2024.
- Cost of Revenue carries a five-year compound annual growth rate of 35.9% (FY2020 to FY2025).
- Going back by year, Cost of Revenue was $92.6 million in FY2024 (+54.1%), $60.1 million in FY2023 (-44.0%), $107.4 million in FY2022 (+11.1%) and $96.7 million in FY2021 (+157.2%).
- The Q2 2026 figure represents the lowest quarterly Cost of Revenue since Q4 2024.
- Year-over-year, Cost of Revenue increased in seven of the last eight quarters, with growth averaging 82.9%.
- The fastest year-over-year change in Cost of Revenue over five years came in Q4 2021 (growth of 217.9%), and the weakest in Q3 2023 (a decline of 54.9%).
- Business Quant data shows AMT's Cost of Revenue at $38.5 million (Q1 2026), $37.2 million (Q4 2025) and $53.8 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | American Tower | 75.57 Bn | 75.31 Bn | 2.72 Bn | 33.40 Mn |
| 2 | Digital Realty Trust | 66.06 Bn | 56.59 Bn | - | - |
| 3 | Crown Castle | 28.31 Bn | 27.05 Bn | 989.00 Mn | 19.00 Mn |
| 4 | Sba Communications | 16.81 Bn | 16.90 Bn | 539.27 Mn | 41.93 Mn |
| 5 | Lamar Advertising | 12.56 Bn | 12.38 Bn | 422.53 Mn | 194.22 Mn |
| 6 | OUTFRONT Media | 5.05 Bn | 4.82 Bn | 276.40 Mn | 246.10 Mn |
| 7 | Array Digital Infrastructure | 2.97 Bn | 1.87 Bn | 30.57 Mn | 23.50 Mn |
| 8 | IHS Holding | 2.79 Bn | -67.81 Mn | 207.10 Mn | 221.50 Mn |
| 9 | Fermi | 2.57 Bn | 1.71 Bn | - | - |
| 10 | Clear Channel Outdoor Holdings | 1.22 Bn | 503.54 Mn | 241.86 Mn | 196.18 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 33.40 Mn |
| Mar 31, 2026 | 38.50 Mn |
| Dec 31, 2025 | 37.20 Mn |
| Sep 30, 2025 | 53.80 Mn |
| Jun 30, 2025 | 48.10 Mn |
| Mar 31, 2025 | 34.90 Mn |
| Dec 31, 2024 | 31.80 Mn |
| Sep 30, 2024 | 24.90 Mn |
| Jun 30, 2024 | 22.00 Mn |
| Mar 31, 2024 | 13.90 Mn |
| Dec 31, 2023 | 11.30 Mn |
| Sep 30, 2023 | 12.50 Mn |
| Jun 30, 2023 | 17.20 Mn |
| Mar 31, 2023 | 19.10 Mn |
| Dec 31, 2022 | 22.90 Mn |
| Sep 30, 2022 | 27.70 Mn |
| Jun 30, 2022 | 28.90 Mn |
| Mar 31, 2022 | 27.90 Mn |
| Dec 31, 2021 | 30.20 Mn |
| Sep 30, 2021 | 30.90 Mn |
API Access
American Tower Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=AMT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "AMT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=AMT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();