American Tower (AMT) Operating Margin (2009 - 2026)

American Tower has disclosed Operating Margin across 18 years of filings, most recently posting 45.27% for Q1 2026.

• Operating Margin for Q1 2026 came in at 45.27%, down 367.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 44.65% (down 84.0% YoY), and the FY2025 annual result was 45.52%, up 93.0% from the prior year.
• Operating Margin came in at 45.27% for Q1 2026 at American Tower, up from 42.4% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 48.93% in Q1 2025 to a low of 24.44% in Q3 2022.
• The 5-year median for Operating Margin is 42.4% (2024), against an average of 38.05%.
• Across the five-year window, Operating Margin sank 1114 bps in 2022 and surged 1745 bps in 2024, its largest moves.
• American Tower's Operating Margin stood at 35.28% in 2022, then declined by 29 bps to 24.95% in 2023, then soared by 70 bps to 42.4% in 2024, then gained by 0 bps to 42.4% in 2025, then climbed by 7 bps to 45.27% in 2026.
• The last three Operating Margin figures came in at 45.27% (Q1 2026), 42.4% (Q4 2025), and 45.39% (Q3 2025), per Business Quant data.