American Tower Corporation

DB:A0T Stock Report

Market Cap: €87.2b

American Tower Valuation

Is A0T undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • 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 A0T when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: A0T (€184.84) is trading below our estimate of fair value (€299.94)

Significantly Below Fair Value: A0T is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for A0T?

Key metric: As A0T is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for A0T. This is calculated by dividing A0T's market cap by their current earnings.
What is A0T's PE Ratio?
PE Ratio47.3x
EarningsUS$1.94b
Market CapUS$91.80b

Price to Earnings Ratio vs Peers

How does A0T's PE Ratio compare to its peers?

The above table shows the PE ratio for A0T vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average49.4x
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
HABA Hamborner REIT
63.7x11.0%€521.4m
A0T American Tower
47.3x20.0%€91.8b

Price-To-Earnings vs Peers: A0T is expensive based on its Price-To-Earnings Ratio (47.3x) compared to the peer average (45x).

Price to Earnings Ratio vs Industry

How does A0T's PE Ratio compare vs other companies in the Global Specialized REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
A0T 47.3xIndustry Avg. 19.0xNo. of Companies7PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: A0T 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 A0T'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.

A0T 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 A0T'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 A0T forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€184.84
€224.81
+21.6%
4.9%€242.22€204.02n/a19
Nov ’25€198.48
€222.20
+12.0%
4.9%€239.41€201.66n/a19
Oct ’25€211.95
€212.99
+0.5%
6.9%€232.62€175.36n/a19
Sep ’25€201.50
€213.32
+5.9%
6.5%€232.36€178.60n/a19
Aug ’25€210.70
€212.60
+0.9%
6.8%€234.57€181.01n/a19
Jul ’25€180.84
€208.27
+15.2%
6.7%€230.96€182.53n/a19
Jun ’25€175.28
€206.17
+17.6%
6.8%€229.00€180.99n/a18
May ’25€164.24
€209.66
+27.7%
6.8%€231.95€183.32n/a18
Apr ’25€182.60
€210.45
+15.3%
6.4%€225.50€168.43n/a17
Mar ’25€183.95
€209.10
+13.7%
7.0%€226.09€168.87n/a17
Feb ’25€181.10
€210.81
+16.4%
7.8%€238.00€168.16n/a17
Jan ’25€196.05
€202.58
+3.3%
9.3%€234.60€165.76n/a17
Dec ’24€192.75
€192.66
-0.05%
9.9%€237.35€154.87n/a17
Nov ’24€168.20
€196.48
+16.8%
9.5%€244.73€159.69€198.4817
Oct ’24€153.45
€214.96
+40.1%
8.3%€256.34€187.29€211.9516
Sep ’24€167.65
€214.50
+27.9%
8.0%€249.86€189.01€201.5017
Aug ’24€173.30
€213.71
+23.3%
7.7%€246.45€191.88€210.7017
Jul ’24€176.15
€222.58
+26.4%
6.9%€252.01€195.19€180.8417
Jun ’24€172.60
€226.26
+31.1%
6.7%€255.31€197.75€175.2817
May ’24€183.95
€223.27
+21.4%
6.3%€250.66€195.97€164.2418
Apr ’24€183.84
€226.86
+23.4%
7.0%€253.66€202.93€182.6018
Mar ’24€181.74
€232.29
+27.8%
6.7%€257.92€206.34€183.9518
Feb ’24€203.35
€230.33
+13.3%
7.9%€257.68€193.26€181.1018
Jan ’24€201.20
€236.84
+17.7%
10.6%€306.61€198.11€196.0519
Dec ’23€210.10
€239.84
+14.2%
11.4%€312.46€200.93€192.7519
Nov ’23€209.85
€256.72
+22.3%
13.5%€329.03€211.59€168.2019

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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