American Tower (AMT) Operating Leases (2019 - 2026)
American Tower (AMT) reported Operating Leases of $7.15 billion for Q2 2026, up 0.4% from $7.12 billion a year earlier but down 0.3% from the prior quarter.
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Analysis
American Tower (AMT) Operating Leases (2019 - 2026) Analysis & Trends
At the end of FY2025, American Tower posted Operating Leases of $7.16 billion, up 4.1% from FY2024.
- Operating Leases has a five-year compound annual growth rate of 0.8% (FY2020 to FY2025).
- By year, Operating Leases came in at $6.88 billion in FY2024 (+0.9%), $6.82 billion in FY2023 (-10.2%), $7.59 billion in FY2022 (-5.6%) and $8.04 billion in FY2021 (+16.8%).
- Five-year quarterly Operating Leases spans a low of $6.82 billion in Q4 2023 and a high of $8.04 billion in Q4 2021.
- Year over year, Operating Leases has now increased in each of the last four quarters, with an average decline of 1.8% over the last eight quarters.
- The high point for year-over-year Operating Leases in five years was Q3 2021 (growth of 22.4%); the low point was Q1 2025 (a decline of 11.9%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $7.17 billion (Q1 2026), $7.16 billion (Q4 2025) and $7.16 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | American Tower | 78.34 Bn | 78.08 Bn | 2.72 Bn |
| 2 | Digital Realty Trust | 65.55 Bn | 56.08 Bn | - |
| 3 | Crown Castle | 28.58 Bn | 27.33 Bn | 989.00 Mn |
| 4 | Sba Communications | 17.34 Bn | 17.42 Bn | 539.27 Mn |
| 5 | Lamar Advertising | 12.64 Bn | 12.46 Bn | 422.53 Mn |
| 6 | OUTFRONT Media | 4.92 Bn | 4.68 Bn | 276.40 Mn |
| 7 | Array Digital Infrastructure | 2.89 Bn | 1.79 Bn | 30.57 Mn |
| 8 | IHS Holding | 2.82 Bn | -47.68 Mn | 207.10 Mn |
| 9 | Fermi | 2.72 Bn | 1.86 Bn | - |
| 10 | Clear Channel Outdoor Holdings | 1.20 Bn | 488.27 Mn | 241.86 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 7.15 Bn |
| Mar 31, 2026 | 7.17 Bn |
| Dec 31, 2025 | 7.16 Bn |
| Sep 30, 2025 | 7.16 Bn |
| Jun 30, 2025 | 7.12 Bn |
| Mar 31, 2025 | 6.93 Bn |
| Dec 31, 2024 | 6.88 Bn |
| Sep 30, 2024 | 7.08 Bn |
| Jun 30, 2024 | 7.72 Bn |
| Mar 31, 2024 | 7.87 Bn |
| Dec 31, 2023 | 6.82 Bn |
| Sep 30, 2023 | 7.44 Bn |
| Jun 30, 2023 | 7.59 Bn |
| Mar 31, 2023 | 7.58 Bn |
| Dec 31, 2022 | 7.59 Bn |
| Sep 30, 2022 | 7.57 Bn |
| Jun 30, 2022 | 7.86 Bn |
| Mar 31, 2022 | 8.03 Bn |
| Dec 31, 2021 | 8.04 Bn |
| Sep 30, 2021 | 7.86 Bn |
API Access
American Tower Operating Leases 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=operating-leases&ticker=AMT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-leases", "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=operating-leases&ticker=AMT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();