American Tower Corporation (AMT) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Revenue | 2.74B | 2.74B | 2.72B | 2.63B | 2.56B | 2.55B | 2.52B | 2.9B | 2.83B | 2.79B | 2.52B | 2.77B | 2.77B | 2.71B | 2.67B | 2.67B | 2.66B | 2.45B | 2.45B | 2.3B |
| Revenue Growth % | 6.82% | 7.47% | 7.74% | -9.43% | -9.57% | -8.58% | 0.05% | 4.64% | 2.42% | 3.02% | -5.63% | 3.64% | 4.02% | 10.62% | 8.85% | 16.33% | 23.25% | 15.2% | 21.93% | 20.17% |
| Property Operating Expenses | 714.1M | 802.3M | 676M | 688.7M | 634.5M | 654.4M | 651.8M | 821.9M | 788.3M | 811.4M | 638M | 827.3M | 806.1M | 805M | 836.5M | 822.9M | 799.4M | 735.5M | 724.3M | 647.9M |
| Net Operating Income (NOI) | 2.02B | 1.94B | 2.04B | 1.94B | 1.93B | 1.89B | 1.87B | 2.08B | 2.05B | 1.98B | 1.88B | 1.94B | 1.96B | 1.9B | 1.83B | 1.85B | 1.86B | 1.71B | 1.73B | 1.65B |
| NOI Margin % | 73.91% | 70.7% | 75.12% | 73.78% | 75.24% | 74.31% | 74.16% | 71.66% | 72.19% | 70.88% | 74.69% | 70.15% | 70.87% | 70.24% | 68.69% | 69.23% | 69.95% | 69.92% | 70.49% | 71.82% |
| Operating Expenses | 862.7M | 775M | 773.3M | 740.5M | 674.2M | 813.1M | 731.3M | 794.1M | 809.2M | 1.26B | 970.1M | 1.07B | 1.19B | 1.71B | 1.18B | 1.07B | 1.14B | 1.08B | 902.5M | 801.8M |
| G&A Expenses | 236.5M | 240M | 233M | 233.7M | 237.5M | 243.1M | 227.7M | 234.3M | 257M | 252.3M | 220.3M | 244.4M | 263.9M | 224.3M | 231.2M | 222.9M | 293.9M | 215.9M | 205.9M | 207.2M |
| EBITDA | 1.68B | 1.7B | 1.79B | 1.71B | 1.75B | 1.58B | 1.65B | 1.85B | 1.79B | 1.48B | 1.68B | 1.64B | 1.57B | 1.01B | 1.55B | 1.61B | 1.54B | 1.27B | 1.44B | 1.4B |
| EBITDA Margin % | 61.25% | 61.93% | 65.91% | 65.02% | 68.15% | 62.06% | 65.5% | 63.65% | 63.02% | 53.17% | 66.47% | 59.11% | 56.73% | 37.22% | 58.06% | 60.16% | 57.92% | 51.96% | 58.63% | 61.07% |
| Depreciation & Amortization | 515.9M | 535M | 522.9M | 510.3M | 492.5M | 500.9M | 512.8M | 561.7M | 549.4M | 764.9M | 762.9M | 764.6M | 794.1M | 814.7M | 898.1M | 826.5M | 815.8M | 643.9M | 611.4M | 554.8M |
| D&A / Revenue % | 18.85% | 19.54% | 19.24% | 19.43% | 19.22% | 19.66% | 20.33% | 19.37% | 19.39% | 27.45% | 30.26% | 27.59% | 28.7% | 30.12% | 33.62% | 30.91% | 30.67% | 26.33% | 24.91% | 24.13% |
| Operating Income | 1.16B | 1.16B | 1.27B | 1.2B | 1.25B | 1.08B | 1.14B | 1.28B | 1.24B | 716.9M | 913M | 873.7M | 775.6M | 192M | 652.9M | 782.3M | 725.1M | 626.6M | 827.5M | 849.2M |
| Operating Margin % | 42.4% | 42.39% | 46.67% | 45.59% | 48.93% | 42.4% | 45.17% | 44.28% | 43.63% | 25.73% | 36.21% | 31.52% | 28.03% | 7.1% | 24.44% | 29.25% | 27.26% | 25.63% | 33.72% | 36.94% |
| Interest Expense | 1000K | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | 3.37x | 3.76x | - | 3.50x | 2.90x | 5.07x | 2.54x | 3.81x | 3.81x | 1.10x | 3.31x | 2.36x | 2.08x | -1.50x | 3.91x | 4.25x | 3.76x | 3.36x | 4.44x | 4.84x |
| Non-Operating Income | 0 | -154.2M | 318.1M | -1.6M | 311.3M | -546.8M | 231.9M | -109.5M | -161M | 331M | -267.8M | 50.9M | 67M | 647.1M | -496.9M | -392.6M | -262.5M | -126M | -176.2M | -185.2M |
| Pretax Income | 964.9M | 964.9M | 950M | 511.8M | 617.5M | 1.31B | 550.5M | 1.03B | 1.03B | 35.2M | 824.3M | 474.7M | 368.4M | -758.6M | 855.8M | 898.3M | 725.2M | 528.5M | 777.6M | 820.7M |
| Pretax Margin % | 35.25% | 35.24% | 34.96% | 19.48% | 24.09% | 51.25% | 21.83% | 35.46% | 36.37% | 1.26% | 32.7% | 17.13% | 13.31% | -28.04% | 32.03% | 33.59% | 27.26% | 21.61% | 31.68% | 35.7% |
| Income Tax | 128.1M | 128.1M | 37.4M | 131.3M | 118.9M | 75.2M | 122.4M | 120M | 109.2M | 21.9M | 49.5M | 13.2M | 53.4M | -42M | 36.1M | 7.4M | 22.5M | 87.3M | 51.4M | 72.8M |
| Effective Tax Rate % | 13.28% | 13.28% | 3.94% | 25.65% | 19.26% | 5.76% | 22.23% | 11.67% | 10.59% | 62.22% | 6.01% | 2.78% | 14.5% | 5.54% | 4.22% | 0.82% | 3.1% | 16.52% | 6.61% | 8.87% |
| Net Income | 836.8M | 821M | 853.3M | 366.8M | 488.7M | 1.23B | -792.3M | 900.3M | 917.4M | 84.9M | 586.9M | 475.7M | 335.8M | -683.8M | 839.7M | 898.2M | 711.7M | 453.4M | 723M | 746.3M |
| Net Margin % | 30.57% | 29.99% | 31.4% | 13.96% | 19.07% | 48.27% | -31.41% | 31.04% | 32.37% | 3.05% | 23.28% | 17.16% | 12.14% | -25.28% | 31.43% | 33.59% | 26.75% | 18.54% | 29.46% | 32.46% |
| Net Income Growth % | 71.23% | -33.23% | 207.7% | -59.26% | -46.73% | 1348.29% | -235% | 89.26% | 173.2% | 112.42% | -30.11% | -47.04% | -52.82% | -250.82% | 16.14% | 20.35% | 10.34% | 24.19% | 55.68% | 67.29% |
| Funds From Operations (FFO) | 1.35B | 1.36B | 1.38B | 877.1M | 981.2M | 1.73B | -279.5M | 1.46B | 1.47B | 849.8M | 1.35B | 1.24B | 1.13B | 130.9M | 1.74B | 1.72B | 1.53B | 1.1B | 1.33B | 1.3B |
| FFO Margin % | 49.41% | 49.53% | 50.64% | 33.39% | 38.29% | 67.93% | -11.08% | 50.41% | 51.76% | 30.49% | 53.54% | 44.75% | 40.83% | 4.84% | 65.05% | 64.49% | 57.42% | 44.88% | 54.37% | 56.6% |
| FFO Growth % | 37.86% | -21.64% | 592.38% | -40.01% | -33.11% | 103.64% | -120.71% | 17.87% | 29.82% | 549.2% | -22.33% | -28.09% | -26.03% | -88.07% | 30.23% | 32.56% | 30.84% | 29.69% | 42.21% | 44.41% |
| FFO per Share | 2.90 | 2.89 | 2.94 | 1.87 | 2.09 | 3.69 | -0.60 | 3.13 | 3.14 | 1.82 | 2.89 | 2.66 | 2.42 | 0.28 | 3.72 | 3.75 | 3.34 | 2.40 | 2.92 | 2.88 |
| FFO Payout Ratio % | 0% | 58.72% | 57.86% | 90.78% | 78.32% | 43.8% | -271.09% | 51.79% | 54.68% | 88.97% | 54.22% | 58.67% | 64.93% | 522.92% | 38.31% | 37.04% | 41.98% | 54.37% | 43.32% | 42.39% |
| EPS (Diluted) | 1.84 | 1.75 | 1.82 | 0.78 | 1.04 | 2.62 | -1.69 | 1.92 | 1.96 | 0.18 | 1.26 | 1.02 | 0.72 | -1.54 | 1.80 | 1.95 | 1.56 | 0.99 | 1.58 | 1.65 |
| EPS Growth % | 76.92% | -33.21% | 207.69% | -59.38% | -46.94% | 1355.56% | -234.13% | 88.24% | 172.22% | 111.69% | -30% | -47.69% | -53.85% | -255.56% | 13.92% | 18.18% | 7.59% | 20.73% | 51.92% | 65% |
| EPS (Basic) | 1.84 | 1.75 | 1.82 | 0.78 | 1.05 | 2.63 | -1.70 | 1.93 | 1.97 | 0.18 | 1.26 | 1.02 | 0.72 | -1.54 | 1.80 | 1.96 | 1.56 | 1.00 | 1.59 | 1.66 |
| Diluted Shares Outstanding | 466.83M | 469.14M | 468.86M | 468.72M | 468.52M | 468.42M | 468.26M | 467.78M | 467.66M | 467.45M | 467.16M | 466.98M | 466.81M | 466.7M | 466.8M | 459.82M | 457.21M | 457.13M | 456.98M | 452.35M |