Question 1

What is American Tower's P/E ratio?

Accepted Answer

American Tower (AMT) P/E ratio is 26.9× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for American Tower?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For American Tower specifically, the relevant sector benchmark is the current sector median of 28.1×.

Question 5

Is American Tower's P/E ratio high or low?

Accepted Answer

American Tower's P/E ratio of 26.9× is below its own 5-year average of 55.6× and below the sector median of 28.1×. That places the current reading at the 1th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is American Tower's historical P/E ratio range?

Accepted Answer

In the available daily series, American Tower (AMT) P/E ratio has ranged from a low of 26.3× in 2026 to a high of 731.1× in 2007. The 5-year average is 55.6× and the 5-year median is 50.3×.

Question 7

What was American Tower's P/E ratio in 2025?

Accepted Answer

American Tower (AMT) P/E ratio at the end of 2025 was 32.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does American Tower's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$82.4B	$2.53B	32.6×	-5.5×	Dec 31, 2025
2024	$85.7B	$2.26B	38.0×	-29.8×	Dec 31, 2024
2023	$101B	$1.48B	67.9×	+12.0×	Dec 31, 2023
2022	$98.6B	$1.77B	55.9×	+4.0×	Dec 31, 2022
2021	$133B	$2.57B	51.9×	-7.1×	Dec 31, 2021
2020	$99.7B	$1.69B	59.0×	+5.1×	Dec 31, 2020
2019	$102B	$1.89B	53.9×	-2.5×	Dec 31, 2019
2018	$69.7B	$1.24B	56.4×	+7.0×	Dec 31, 2018
2017	$61.2B	$1.24B	49.4×	+2.3×	Dec 31, 2017
2016	$45B	$956M	47.1×	-12.9×	Dec 31, 2016
2015	$41.1B	$685M	60.0×	+12.4×	Dec 31, 2015
2014	$39.2B	$825M	47.5×	-9.6×	Dec 31, 2014
2013	$31.5B	$551M	57.2×	+9.2×	Dec 31, 2013
2012	$30.5B	$637M	47.9×	-11.7×	Dec 31, 2012
2011	$23.6B	$396M	59.6×	+4.5×	Dec 31, 2011
2010	$20.5B	$373M	55.1×	-15.4×	Dec 31, 2010
2009	$17.4B	$247M	70.4×	+36.9×	Dec 31, 2009
2008	$11.6B	$347M	33.5×	-266.9×	Dec 31, 2008
2007	$16.9B	$56.3M	300.4×	-285.3×	Dec 31, 2007
2006	$15.7B	$26.8M	585.7×	—	Dec 31, 2006
2005	$11.2B	-$172M	—	—	Dec 31, 2005
2004	$4.2B	-$248M	—	—	Dec 31, 2004
2003	$2.38B	-$303M	—	—	Dec 31, 2003
2002	$690M	-$579M	—	—	Dec 31, 2002


Realty Income (O)	49.4×
Digital Realty Trust (DLR)	45.1×
Weyerhaeuser (WY)	44.4×
Agree Realty (ADC)	41.1×
Mid-America Apartment Communities (MAA)	36.5×
Tanger (SKT)	31.0×
CBRE Group (CBRE)	30.4×
Prologis (PLD)	30.0×
Extra Space Storage (EXR)	29.3×
STAG Industrial (STAG)	28.2×
Camden Property Trust (CPT)	26.4×
BXP (BXP)	26.0×
Invitation Homes (INVH)	25.8×
Public Storage (PSA)	25.0×
Kimco Realty (KIM)	24.5×
UDR (UDR)	22.5×
Regency Centers (REG)	22.1×
NNN REIT (NNN)	20.5×
AvalonBay Communities (AVB)	20.0×
SBA Communications (SBAC)	17.9×
Host Hotels & Resorts (HST)	13.1×
Simon Property Group (SPG)	12.9×
Arbor Realty Trust (ABR)	12.6×
VICI Properties (VICI)	9.4×
Apartment Investment and Management (AIV)	1.0×

P/E Ratio for American Tower (AMT) 2006-2026

P/E Ratio daily chart for American Tower (AMT)

Historical P/E Ratio for American Tower (AMT) from 2002 to 2025

About P/E Ratio at American Tower (AMT)

American Tower P/E Ratio by Year

American Tower P/E Ratio 2025: 32.6×

American Tower P/E Ratio 2024: 38.0×

American Tower P/E Ratio 2023: 67.9×

American Tower P/E Ratio 2022: 55.9×

American Tower P/E Ratio 2021: 51.9×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

American Tower (AMT) Key Financials