American Tower (AMT) FCF Margin (2009 - 2026)
American Tower (AMT) reported FCF Margin of 42.41% for Q2 2026, up 5.22 percentage points from 37.19% a year earlier and up 7.67 percentage points from the prior quarter.
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Analysis
American Tower (AMT) FCF Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, American Tower's FCF Margin came in at 36.19%, down 0.27 percentage points year-over-year; for FY2025, it came in at 35.54%, down 1.00 percentage points from FY2024.
- FCF Margin has a five-year change of +0.11 percentage points (FY2020 to FY2025).
- By year, FCF Margin came in at 36.54% in FY2024 (+7.33 pp), 29.21% in FY2023 (+10.31 pp), 18.90% in FY2022 (-17.90 pp) and 36.80% in FY2021 (+1.36 pp).
- The Q2 2026 figure ranks as the highest quarterly FCF Margin since Q3 2021.
- Year over year, FCF Margin gained in five of the last eight quarters, with an average year-over-year change of +1.05 percentage points.
- The high point for year-over-year FCF Margin in five years was Q3 2021 (a gain of 37.03 percentage points); the low point was Q3 2022 (a drop of 54.91 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 34.74% (Q1 2026), 30.99% (Q4 2025) and 36.60% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | American Tower | 76.26 Bn | 75.99 Bn | 2.72 Bn | 42.41% |
| 2 | Digital Realty Trust | 64.98 Bn | 55.50 Bn | - | 7.72% |
| 3 | Crown Castle | 28.39 Bn | 27.14 Bn | 989.00 Mn | 46.83% |
| 4 | Sba Communications | 16.99 Bn | 17.07 Bn | 539.27 Mn | 48.20% |
| 5 | Lamar Advertising | 12.56 Bn | 12.38 Bn | 422.53 Mn | 34.00% |
| 6 | OUTFRONT Media | 4.89 Bn | 4.65 Bn | 276.40 Mn | 17.45% |
| 7 | Array Digital Infrastructure | 2.92 Bn | 1.81 Bn | 30.57 Mn | -91.13% |
| 8 | IHS Holding | 2.80 Bn | -57.74 Mn | 207.10 Mn | 41.79% |
| 9 | Fermi | 2.69 Bn | 1.82 Bn | - | - |
| 10 | Clear Channel Outdoor Holdings | 1.20 Bn | 488.27 Mn | 241.86 Mn | 5.77% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 42.41% |
| Mar 31, 2026 | 34.74% |
| Dec 31, 2025 | 30.99% |
| Sep 30, 2025 | 36.60% |
| Jun 30, 2025 | 37.19% |
| Mar 31, 2025 | 37.61% |
| Dec 31, 2024 | 29.66% |
| Sep 30, 2024 | 41.42% |
| Jun 30, 2024 | 39.82% |
| Mar 31, 2024 | 35.30% |
| Dec 31, 2023 | 25.13% |
| Sep 30, 2023 | 36.09% |
| Jun 30, 2023 | 31.36% |
| Mar 31, 2023 | 24.15% |
| Dec 31, 2022 | 32.14% |
| Sep 30, 2022 | 17.71% |
| Jun 30, 2022 | 20.39% |
| Mar 31, 2022 | 10.43% |
| Dec 31, 2021 | 8.95% |
| Sep 30, 2021 | 72.62% |
API Access
American Tower FCF Margin 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=fcf-margin&ticker=AMT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "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=fcf-margin&ticker=AMT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();