American Tower (AMT) Operating Margin (2009 - 2026)
American Tower (AMT) reported Operating Margin of 45.56% for Q3 2026, up 0.17 percentage points from 45.39% a year earlier but down 0.59 percentage points from the prior quarter.
Powered by 
Analysis
American Tower (AMT) Operating Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, American Tower's Operating Margin came in at 44.85%, down 0.73 percentage points year-over-year; for FY2025, it came in at 45.52%, up 0.93 percentage points from FY2024.
- Operating Margin has increased for three consecutive years, with a five-year change of +9.62 percentage points (FY2020 to FY2025).
- By year, Operating Margin came in at 44.60% in FY2024 (+13.38 pp), 31.22% in FY2023 (+2.82 pp), 28.39% in FY2022 (-5.08 pp) and 33.47% in FY2021 (-2.43 pp).
- Five-year quarterly Operating Margin spans a low of 24.44% in Q3 2022 and a high of 48.93% in Q1 2025.
- Year over year, Operating Margin gained in six of the last eight quarters, with an average year-over-year change of +2.30 percentage points.
- The high point for year-over-year Operating Margin in five years was Q4 2024 (a gain of 17.45 percentage points); the low point was Q1 2022 (a drop of 11.14 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 46.15% (Q2 2026), 45.27% (Q1 2026) and 42.40% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | American Tower | 86.72 Bn | 80.00 Bn | 2.75 Bn | 45.56% |
| 2 | Digital Realty Trust | 67.98 Bn | 59.43 Bn | - | 15.88% |
| 3 | Crown Castle | 37.11 Bn | 35.78 Bn | 982.00 Mn | 46.73% |
| 4 | Sba Communications | 19.86 Bn | 18.40 Bn | 542.40 Mn | 51.51% |
| 5 | Lamar Advertising | 16.11 Bn | 15.92 Bn | 422.53 Mn | 33.72% |
| 6 | OUTFRONT Media | 5.53 Bn | 5.27 Bn | 276.40 Mn | 22.22% |
| 7 | IHS Holding | 2.84 Bn | -723.51 Mn | 207.10 Mn | 19.32% |
| 8 | Array Digital Infrastructure | 2.59 Bn | 1.48 Bn | 30.57 Mn | 738.42% |
| 9 | Clear Channel Outdoor Holdings | 1.23 Bn | 518.82 Mn | 241.86 Mn | 20.33% |
| 10 | Fermi | 1.03 Bn | 171.55 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 45.56% |
| Jun 30, 2026 | 46.15% |
| Mar 31, 2026 | 45.27% |
| Dec 31, 2025 | 42.40% |
| Sep 30, 2025 | 45.39% |
| Jun 30, 2025 | 45.59% |
| Mar 31, 2025 | 48.93% |
| Dec 31, 2024 | 42.40% |
| Sep 30, 2024 | 45.17% |
| Jun 30, 2024 | 45.44% |
| Mar 31, 2024 | 45.41% |
| Dec 31, 2023 | 24.95% |
| Sep 30, 2023 | 36.21% |
| Jun 30, 2023 | 33.91% |
| Mar 31, 2023 | 29.64% |
| Dec 31, 2022 | 35.28% |
| Sep 30, 2022 | 24.44% |
| Jun 30, 2022 | 29.25% |
| Mar 31, 2022 | 27.26% |
| Dec 31, 2021 | 25.63% |
API Access
American Tower Operating 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=operating-margin&ticker=AMT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=AMT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();