American Tower (AMT) Return on Invested Capital [ROIC] (2009 - 2026)
American Tower (AMT) recorded Return on Invested Capital [ROIC] of 9.21% in Q2 2026, up 0.83 percentage points from 8.38% a year earlier and up 0.33 percentage points from the prior quarter.
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Analysis
American Tower (AMT) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, American Tower reported Return on Invested Capital [ROIC] of 8.93%, up 0.45 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] has increased for three straight years, with a five-year change of +0.47 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Invested Capital [ROIC] came in at 8.47% in FY2024 (+2.64 pp), 5.84% in FY2023 (+0.83 pp), 5.01% in FY2022 (-1.59 pp) and 6.60% in FY2021 (-1.86 pp).
- The Q2 2026 figure is the highest quarterly Return on Invested Capital [ROIC] since Q3 2020.
- On a year-over-year basis, Return on Invested Capital [ROIC] has increased for 12 consecutive quarters, with an average year-over-year change of +1.36 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Invested Capital [ROIC] in the last five years was a gain of 2.83 percentage points in Q4 2024, against a drop of 3.06 percentage points in Q3 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at 8.88% (Q1 2026), 8.76% (Q4 2025) and 8.87% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | American Tower | 75.57 Bn | 75.31 Bn | 2.72 Bn | 9.21% |
| 2 | Digital Realty Trust | 66.06 Bn | 56.59 Bn | - | 2.12% |
| 3 | Crown Castle | 28.31 Bn | 27.05 Bn | 989.00 Mn | 10.36% |
| 4 | Sba Communications | 16.81 Bn | 16.90 Bn | 539.27 Mn | 13.99% |
| 5 | Lamar Advertising | 12.56 Bn | 12.38 Bn | 422.53 Mn | 16.13% |
| 6 | OUTFRONT Media | 5.05 Bn | 4.82 Bn | 276.40 Mn | 12.10% |
| 7 | Array Digital Infrastructure | 2.97 Bn | 1.87 Bn | 30.57 Mn | 19.26% |
| 8 | IHS Holding | 2.79 Bn | -67.81 Mn | 207.10 Mn | 23.09% |
| 9 | Fermi | 2.57 Bn | 1.71 Bn | - | - |
| 10 | Clear Channel Outdoor Holdings | 1.22 Bn | 503.54 Mn | 241.86 Mn | 17.66% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 9.21% |
| Mar 31, 2026 | 8.88% |
| Dec 31, 2025 | 8.76% |
| Sep 30, 2025 | 8.87% |
| Jun 30, 2025 | 8.38% |
| Mar 31, 2025 | 8.78% |
| Dec 31, 2024 | 8.69% |
| Sep 30, 2024 | 7.32% |
| Jun 30, 2024 | 7.06% |
| Mar 31, 2024 | 6.59% |
| Dec 31, 2023 | 5.86% |
| Sep 30, 2023 | 5.36% |
| Jun 30, 2023 | 4.93% |
| Mar 31, 2023 | 4.97% |
| Dec 31, 2022 | 5.09% |
| Sep 30, 2022 | 5.17% |
| Jun 30, 2022 | 5.35% |
| Mar 31, 2022 | 5.29% |
| Dec 31, 2021 | 5.96% |
| Sep 30, 2021 | 6.81% |
API Access
American Tower Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=AMT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=AMT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();