American Tower Corporation

NYSE:AMT Stock Report

Market Cap: US$91.8b

American Tower Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: AMT ($196.45) is trading below our estimate of fair value ($296.2)

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

Key Valuation Metric

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

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

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

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for AMT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average75.6x
CCI Crown Castle
36.7x6.3%US$45.1b
SBAC SBA Communications
34.7x11.6%US$23.8b
EQIX Equinix
82x14.7%US$86.6b
DLR Digital Realty Trust
148.8x21.1%US$60.7b
AMT American Tower
47.3x20.0%US$91.8b

Price-To-Earnings vs Peers: AMT is good value based on its Price-To-Earnings Ratio (47.3x) compared to the peer average (75.6x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
AMT 47.3xIndustry Avg. 27.9xNo. of Companies3PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: AMT is expensive based on its Price-To-Earnings Ratio (47.3x) compared to the US Specialized REITs industry average (27.9x).

Price to Earnings Ratio vs Fair Ratio

What is AMT'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.

AMT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio47.3x
Fair PE Ratio47.7x

Price-To-Earnings vs Fair Ratio: AMT is good value based on its Price-To-Earnings Ratio (47.3x) compared to the estimated Fair Price-To-Earnings Ratio (47.7x).

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 AMT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$196.45
US$241.32
+22.8%
4.9%US$260.00US$219.00n/a19
Nov ’25US$211.26
US$241.32
+14.2%
4.9%US$260.00US$219.00n/a19
Oct ’25US$232.07
US$238.05
+2.6%
6.9%US$260.00US$196.00n/a19
Sep ’25US$224.06
US$234.11
+4.5%
6.5%US$255.00US$196.00n/a19
Aug ’25US$227.93
US$230.21
+1.0%
6.8%US$254.00US$196.00n/a19
Jul ’25US$194.02
US$223.63
+15.3%
6.7%US$248.00US$196.00n/a19
Jun ’25US$195.74
US$223.28
+14.1%
6.8%US$248.00US$196.00n/a18
May ’25US$176.84
US$224.17
+26.8%
6.8%US$248.00US$196.00n/a18
Apr ’25US$193.01
US$228.65
+18.5%
6.4%US$245.00US$183.00n/a17
Mar ’25US$201.76
US$226.59
+12.3%
7.0%US$245.00US$183.00n/a17
Feb ’25US$198.39
US$229.41
+15.6%
7.8%US$259.00US$183.00n/a17
Jan ’25US$215.88
US$223.65
+3.6%
9.3%US$259.00US$183.00n/a17
Dec ’24US$210.47
US$210.24
-0.1%
9.9%US$259.00US$169.00n/a17
Nov ’24US$178.38
US$207.94
+16.6%
9.5%US$259.00US$169.00US$211.2617
Oct ’24US$164.45
US$227.25
+38.2%
8.3%US$271.00US$198.00US$232.0716
Sep ’24US$180.79
US$232.65
+28.7%
8.0%US$271.00US$205.00US$224.0617
Aug ’24US$191.24
US$235.00
+22.9%
7.7%US$271.00US$211.00US$227.9317
Jul ’24US$193.94
US$242.88
+25.2%
6.9%US$275.00US$213.00US$194.0217
Jun ’24US$187.01
US$243.71
+30.3%
6.7%US$275.00US$213.00US$195.7417
May ’24US$199.50
US$244.94
+22.8%
6.3%US$275.00US$215.00US$176.8418
Apr ’24US$204.34
US$245.94
+20.4%
7.0%US$275.00US$220.00US$193.0118
Mar ’24US$194.89
US$247.67
+27.1%
6.7%US$275.00US$220.00US$201.7618
Feb ’24US$227.14
US$250.28
+10.2%
7.9%US$280.00US$210.00US$198.3918
Jan ’24US$211.86
US$251.05
+18.5%
10.6%US$325.00US$210.00US$215.8819
Dec ’23US$221.30
US$249.47
+12.7%
11.4%US$325.00US$209.00US$210.4719
Nov ’23US$207.88
US$253.58
+22.0%
13.5%US$325.00US$209.00US$178.3819

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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