Question 1

What is American Tower's P/S ratio?

Accepted Answer

American Tower (AMT) P/S ratio is 7.2× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

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

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For American Tower specifically, the relevant sector benchmark is the current sector median of 6.4×.

Question 5

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

Accepted Answer

American Tower's P/S ratio of 7.2× is below its own 5-year average of 9.7× and above the sector median of 6.4×. That places the current reading at the 2th 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/S ratio range?

Accepted Answer

In the available daily series, American Tower (AMT) P/S ratio has ranged from a low of 0.3× in 2002 to a high of 16.0× in 2021. The 5-year average is 9.7× and the 5-year median is 9.2×.

Question 7

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

Accepted Answer

American Tower (AMT) P/S ratio at the end of 2025 was 7.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$10.6B	7.7×	-0.2×	Dec 31, 2025
2024	$85.7B	$10.8B	7.9×	-1.3×	Dec 31, 2024
2023	$101B	$10.8B	9.3×	+0.1×	Dec 31, 2023
2022	$98.6B	$10.7B	9.2×	-5.0×	Dec 31, 2022
2021	$133B	$9.36B	14.2×	+1.8×	Dec 31, 2021
2020	$99.7B	$8.04B	12.4×	-1.0×	Dec 31, 2020
2019	$102B	$7.58B	13.4×	+4.1×	Dec 31, 2019
2018	$69.7B	$7.44B	9.4×	+0.2×	Dec 31, 2018
2017	$61.2B	$6.66B	9.2×	+1.4×	Dec 31, 2017
2016	$45B	$5.79B	7.8×	-0.8×	Dec 31, 2016
2015	$41.1B	$4.77B	8.6×	-1.0×	Dec 31, 2015
2014	$39.2B	$4.1B	9.6×	+0.2×	Dec 31, 2014
2013	$31.5B	$3.36B	9.4×	-1.2×	Dec 31, 2013
2012	$30.5B	$2.88B	10.6×	+0.9×	Dec 31, 2012
2011	$23.6B	$2.44B	9.7×	-0.7×	Dec 31, 2011
2010	$20.5B	$1.99B	10.3×	+0.3×	Dec 31, 2010
2009	$17.4B	$1.72B	10.1×	+2.8×	Dec 31, 2009
2008	$11.6B	$1.59B	7.3×	-4.3×	Dec 31, 2008
2007	$16.9B	$1.46B	11.6×	-0.3×	Dec 31, 2007
2006	$15.7B	$1.32B	11.9×	+0.1×	Dec 31, 2006
2005	$11.2B	$945M	11.9×	+5.9×	Dec 31, 2005
2004	$4.2B	$707M	5.9×	+2.7×	Dec 31, 2004
2003	$2.38B	$734M	3.2×	+2.4×	Dec 31, 2003
2002	$690M	$805M	0.9×	—	Dec 31, 2002


Regency Centers (REG)	8.4×
Extra Space Storage (EXR)	8.1×
STAG Industrial (STAG)	8.0×
AvalonBay Communities (AVB)	7.5×
VICI Properties (VICI)	7.2×
Kimco Realty (KIM)	7.0×
Camden Property Trust (CPT)	6.5×
UDR (UDR)	6.4×
Tanger (SKT)	6.4×
Mid-America Apartment Communities (MAA)	6.4×
SBA Communications (SBAC)	6.4×
Ventas (VTR)	6.3×
Invitation Homes (INVH)	5.4×
CoStar Group (CSGP)	4.9×
Apartment Investment and Management (AIV)	4.5×
Iron Mountain (IRM)	4.2×
Healthpeak Properties (DOC)	4.0×
Alexandria Real Estate Equities (ARE)	3.0×
Medical Properties Trust (MPT)	2.8×
Weyerhaeuser (WY)	2.5×
BXP (BXP)	2.4×
Host Hotels & Resorts (HST)	2.2×
Arbor Realty Trust (ABR)	1.2×
Opendoor Technologies (OPEN)	1.1×
CBRE Group (CBRE)	0.9×

P/S Ratio for American Tower (AMT) 2002-2026

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

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

About P/S Ratio at American Tower (AMT)

American Tower P/S Ratio by Year

American Tower P/S Ratio 2025: 7.7×

American Tower P/S Ratio 2024: 7.9×

American Tower P/S Ratio 2023: 9.3×

American Tower P/S Ratio 2022: 9.2×

American Tower P/S Ratio 2021: 14.2×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

American Tower (AMT) Key Financials