American Tower (AMT) Operating Margin (2009 - 2025)

American Tower's Operating Margin history runs 17 years deep, the most recent figure standing at 45.52% for FY2025.

• In Q1 2026, Operating Margin fell 367.0% year-over-year to 45.27%; the TTM figure through Mar 2026 stood at 44.65% (down 84.0% YoY), while the FY2025 annual figure was 45.52%, up 93.0% from the prior year.
• Operating Margin came in at 45.52% for FY2025 at American Tower, up from 44.6% in the prior year.
• In the past five years, Operating Margin ranged from a high of 45.52% in FY2025 to a low of 28.39% in FY2022.
• A 5-year average of 36.64% and a median of 33.47% in 2021 frame the typical range for Operating Margin.
• Across the five-year window, Operating Margin slumped 508 bps in 2022 and jumped 1338 bps in 2024, its largest moves.
• American Tower's Operating Margin stood at 33.47% in 2021, then slipped by 15 bps to 28.39% in 2022, then rose by 10 bps to 31.22% in 2023, then jumped by 43 bps to 44.6% in 2024, then increased by 2 bps to 45.52% in 2025.
• According to Business Quant data, Operating Margin over the past three periods registered 45.52%, 44.6%, and 31.22% for FY2025, FY2024, and FY2023 respectively.

Peer Comparison