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

American Tower has disclosed Operating Margin across 17 years of filings, most recently posting 45.52% for FY2025.

• 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 45.52% 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.
• The 5-year median for Operating Margin is 33.47% (2021), against an average of 36.64%.
• Across the five-year window, Operating Margin tumbled 508 bps in 2022 and soared 1338 bps in 2024, its largest moves.
• American Tower's Operating Margin stood at 33.47% in 2021, then decreased by 15 bps to 28.39% in 2022, then increased by 10 bps to 31.22% in 2023, then soared by 43 bps to 44.6% in 2024, then grew by 2 bps to 45.52% in 2025.
• The last three Operating Margin figures came in at 45.52% (FY2025), 44.6% (FY2024), and 31.22% (FY2023), per Business Quant data.