How does American Tower (AMT) make money?

American Tower (AMT) generates revenue primarily from Property, which accounted for 96.9% of total revenue in TTM through Q1 2026. The company reported $10.82B in revenue and converted 26.6% of it into net profit, equivalent to roughly $2.88B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of American Tower (AMT)?

American Tower (AMT) reported a gross profit margin of 73.4% in TTM through Q1 2026, equivalent to $7.94B in gross profit on $10.82B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of American Tower (AMT)?

American Tower (AMT) reported an operating profit margin of 44.2% in TTM through Q1 2026, equivalent to $4.79B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of American Tower (AMT)?

American Tower (AMT) reported a net profit margin of 26.6% in TTM through Q1 2026, equivalent to $2.88B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is American Tower (AMT) profitable?

Yes. American Tower (AMT) reported $2.88B in net income for TTM through Q1 2026, with a net profit margin of 26.6%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does American Tower (AMT) spend on capital expenditures?

American Tower (AMT) spent $1.80B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 16.6% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does American Tower (AMT) generate?

American Tower (AMT) generated $3.77B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 34.9%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of American Tower (AMT)?

American Tower (AMT) had an effective tax rate of 12.5% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of American Tower (AMT)?

American Tower (AMT) reports revenue across 2 reportable product segments, led by Property at 96.9% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does American Tower (AMT) generate most of its revenue?

UNITED STATES is the largest geographic market for American Tower (AMT), accounting for 49.4% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How American Tower Makes Money: 2026 Visual Revenue Map

American Tower (AMT) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 28, 2026).

American Tower (AMT) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for American Tower (AMT) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Property	$10.49B	96.9%
Services Revenue	$332.62M	3.1%
Total	$10.82B	100%

Property$10.49B
Services Revenue$332.62M
Total$10.82B

American Tower (AMT) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for American Tower (AMT), TTM through Q1 2026
Region	Revenue (USD)	% of total
UNITED STATES	$5.54B	49.4%
Property, Latin America	$1.72B	15.4%
Property, Africa	$1.47B	13.1%
Property, Data Centers	$1.10B	9.8%
Property, Europe	$985.40M	8.8%
Services Segment	$407.20M	3.6%
Total	$11.23B	100%

UNITED STATES
Property, Latin America
Property, Africa
Property, Data Centers
Property, Europe
Services Segment
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, American Tower (AMT) reports revenue across 2 operating segments; the largest segment was Property at 96.9%, followed by Services Revenue (3.1%). Separately, by end-market geography, UNITED STATES accounted for 49.4% of revenue, followed by Property, Latin America (15.4%) and Property, Africa (13.1%).

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