American Tower Corporation

DB:A0T Stock Report

Market Cap: €85.6b

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.

Discounted Cash Flow
Simply Wall St
€304.00
Fair Value
40.0% undervalued intrinsic discount
20
Number of Analysts

Below Fair Value: A0T (€182.5) is trading below our estimate of fair value (€304)

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 Ratio46.1x
EarningsUS$1.94b
Market CapUS$89.51b

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 Average47.5x
CCI Crown Castle
32.6x8.6%US$40.1b
SBAC SBA Communications
33.4x11.0%US$22.9b
FSITES 20 Fideicomiso Opsimex
62.7xn/aMex$88.1b
HABA Hamborner REIT
61.5x10.0%€503.5m
A0T American Tower
46.1x17.7%€89.5b

Price-To-Earnings vs Peers: A0T is expensive based on its Price-To-Earnings Ratio (46.1x) compared to the peer average (42.5x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
A0T 46.1xIndustry Avg. 18.3xNo. of Companies6PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: A0T is expensive based on its Price-To-Earnings Ratio (46.1x) compared to the Global Specialized REITs industry average (18.3x).

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 Ratio46.1x
Fair PE Ratio65.1x

Price-To-Earnings vs Fair Ratio: A0T is good value based on its Price-To-Earnings Ratio (46.1x) compared to the estimated Fair Price-To-Earnings Ratio (65.1x).

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€182.50
€215.28
+18.0%
6.3%€238.25€185.84n/a20
Feb ’26€178.22
€219.14
+23.0%
6.8%€243.12€185.91n/a20
Jan ’26€173.30
€227.15
+31.1%
5.4%€246.20€202.76n/a19
Dec ’25€197.82
€227.65
+15.1%
4.8%€245.49€206.78n/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€168.16€178.2217
Jan ’25€196.05
€202.58
+3.3%
9.3%€234.60€165.76€173.3017
Dec ’24€192.75
€192.66
-0.05%
9.9%€237.35€154.87€197.8217
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
Analyst Price Target
Consensus Narrative from 20 Analysts
€215.23
Fair Value
15.2% undervalued intrinsic discount
20
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/22 23:30
End of Day Share Price 2025/02/21 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

American Tower Corporation is covered by 54 analysts. 18 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Harshit GuptaAccountability Research Corporation
Jacob KilsteinArgus Research Company
Christopher WattsAtlantic Equities LLP