American Tower Corporation

WBAG:AMTG Stock Report

Market Cap: €87.2b

American Tower Valuation

Is AMTG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of AMTG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AMTG (€184.94) is trading below our estimate of fair value (€294.53)

Significantly Below Fair Value: AMTG is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AMTG?

Key metric: As AMTG is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for AMTG. This is calculated by dividing AMTG's market cap by their current earnings.
What is AMTG's PE Ratio?
PE Ratio47.3x
EarningsUS$1.94b
Market CapUS$91.80b

Price to Earnings Ratio vs Peers

How does AMTG's PE Ratio compare to its peers?

The above table shows the PE ratio for AMTG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average54x
CCI Crown Castle
36.7x6.3%US$45.1b
SBAC SBA Communications
34.7x11.6%US$23.8b
FSITES 20 Fideicomiso Opsimex
62.7xn/aMex$88.1b
EQIX Equinix
82x14.7%US$86.6b
AMTG American Tower
47.3x20.0%€91.8b

Price-To-Earnings vs Peers: AMTG is good value based on its Price-To-Earnings Ratio (47.3x) compared to the peer average (51.1x).

Price to Earnings Ratio vs Industry

How does AMTG's PE Ratio compare vs other companies in the Global Specialized REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AMTG 47.3xIndustry Avg. 19.0xNo. of Companies7PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: AMTG is expensive based on its Price-To-Earnings Ratio (47.3x) compared to the Global Specialized REITs industry average (19x).

Price to Earnings Ratio vs Fair Ratio

What is AMTG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AMTG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio47.3x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate AMTG's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst AMTG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€184.94
€224.81
+21.6%
4.9%€242.22€204.02n/a19
Nov ’25€195.96
€222.20
+13.4%
4.9%€239.41€201.66n/a19
Oct ’25€211.05
€212.99
+0.9%
6.9%€232.62€175.36n/a19
Sep ’25€200.75
€213.32
+6.3%
6.5%€232.36€178.60n/a19
Aug ’25€209.90
€212.60
+1.3%
6.8%€234.57€181.01n/a19
Jul ’25€179.70
€208.27
+15.9%
6.7%€230.96€182.53n/a19
Jun ’25€179.98
€206.17
+14.6%
6.8%€229.00€180.99n/a18
May ’25€161.96
€209.66
+29.5%
6.8%€231.95€183.32n/a18
Apr ’25€182.10
€210.45
+15.6%
6.4%€225.50€168.43n/a17
Mar ’25€183.65
€209.10
+13.9%
7.0%€226.09€168.87n/a17
Feb ’25€179.55
€210.81
+17.4%
7.8%€238.00€168.16n/a17
Jan ’25€196.65
€202.58
+3.0%
9.3%€234.60€165.76n/a17
Dec ’24€193.15
€192.66
-0.3%
9.9%€237.35€154.87n/a17
Nov ’24€169.50
€196.48
+15.9%
9.5%€244.73€159.69€195.9617
Oct ’24€156.15
€214.96
+37.7%
8.3%€256.34€187.29€211.0516
Sep ’24€167.45
€214.50
+28.1%
8.0%€249.86€189.01€200.7517
Aug ’24€174.65
€213.71
+22.4%
7.7%€246.45€191.88€209.9017
Jul ’24€176.10
€222.58
+26.4%
6.9%€252.01€195.19€179.7017
Jun ’24€174.55
€226.26
+29.6%
6.7%€255.31€197.75€179.9817
May ’24€185.40
€223.27
+20.4%
6.3%€250.66€195.97€161.9618
Apr ’24€186.38
€226.86
+21.7%
7.0%€253.66€202.93€182.1018
Mar ’24€182.28
€232.29
+27.4%
6.7%€257.92€206.34€183.6518
Feb ’24€203.35
€230.33
+13.3%
7.9%€257.68€193.26€179.5518
Jan ’24€202.70
€236.84
+16.8%
10.6%€306.61€198.11€196.6519
Dec ’23€211.45
€239.84
+13.4%
11.4%€312.46€200.93€193.1519
Nov ’23€210.80
€256.72
+21.8%
13.5%€329.03€211.59€169.5019

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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