American Tower Corporation
Real EstateNYSE:AMT · New York Stock Exchange
-$2.13 today
Vol 2.89M · Avg 3.17M
Income Statement
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Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$10.8B of revenue converted into $2.9B of net income for the selected period. Gross margin is 73.4% and net margin is 26.5%, showing how much revenue survives after costs and taxes. EPS is $6.19, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10.6B +5.1% | $10.1B +1.1% | $10.0B +3.8% | $9.6B +3.1% | $9.4B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $2.8B +8.8% | $2.6B +0.5% | $2.6B -0.3% | $2.6B -4.2% | $2.7B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $7.8B +3.9% | $7.6B +1.4% | $7.5B +5.3% | $7.1B +6.0% | $6.7B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 73.7% -0.9pp | 74.6% +0.2pp | 74.4% +1.1pp | 73.4% +2.0pp | 71.3% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $944.2M +1.2% | $933.4M -1.3% | $946.0M +4.9% | $902.1M +11.2% | $811.6M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $3.0B -2.4% | $3.0B -29.8% | $4.3B -0.3% | $4.3B +22.4% | $3.5B | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $2.1B -3.0% | $2.1B -31.2% | $3.1B -8.0% | $3.4B +43.8% | $2.3B | $374.2M | $1.2B | $631.8M |
| EBITDA | $6.1B -14.4% | $7.2B +19.2% | $6.0B -8.7% | $6.6B +9.0% | $6.0B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 57.5% -13.1pp | 70.6% +10.7pp | 60.0% -8.2pp | 68.2% +3.7pp | 64.5% | 5.6% | 46.3% | 42.0% |
| Operating Income | $4.9B +8.1% | $4.5B +44.5% | $3.1B +14.1% | $2.7B -12.6% | $3.1B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 45.8% +1.3pp | 44.6% +13.4pp | 31.2% +2.8pp | 28.4% -5.1pp | 33.5% | 16.6% | 24.1% | 22.0% |
| Interest Income | $93.6M -30.8% | $135.2M +14.0% | $118.6M +141.5% | $49.1M +21.5% | $40.4M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $1.0B -27.5% | $1.4B +1.2% | $1.4B +22.2% | $1.1B +30.4% | $870.9M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$1.8B -105.9% | -$891.7M +44.1% | -$1.6B -144.6% | -$652.6M -115.7% | -$302.6M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $3.0B -16.0% | $3.6B +137.0% | $1.5B -26.7% | $2.1B -26.3% | $2.8B | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 28.6% -7.2pp | 35.8% +20.5pp | 15.3% -6.4pp | 21.6% -8.6pp | 30.2% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $415.7M +13.5% | $366.3M +303.4% | $90.8M -19.5% | $112.8M -56.9% | $261.8M | $1.3B | -$1.6B | $745.2M |
| Net Income | $2.5B +12.2% | $2.3B +52.0% | $1.5B -16.0% | $1.8B -31.2% | $2.6B | $4.9B | $4.8B | $4.7B |
| Net Margin | 23.8% +1.5pp | 22.3% +7.5pp | 14.8% -3.5pp | 18.3% -9.1pp | 27.4% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $5 +11.8% | $5 +51.9% | $3 -17.0% | $4 -32.7% | $6 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $5 +11.8% | $5 +51.6% | $3 -16.8% | $4 -32.5% | $6 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $469.1M +0.5% | $467.0M +0.2% | $466.1M +1.0% | $461.5M +2.2% | $451.5M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $469.1M +0.2% | $468.1M +0.2% | $467.2M +1.0% | $462.8M +2.1% | $453.3M | $1.2B | $924.4M | $678.0M |
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How much revenue does AMT generate?
American Tower Corporation (AMT) reported $10.65B of revenue in fiscal 2025.
Is AMT profitable?
American Tower Corporation (AMT) reported $2.53B of net income, with a net margin of 23.8%.
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