Owns communications towers and leases space on them to wireless carriers under long-term contracts.
American Tower (AMT) scores 5.6 out of 10 as of , computed from its reported financial statements. That reads as solid quality. The reading rests on profitability, and solvency is what holds it back.
Data provided by Twelve Data. Scores are computed by Lemma Analysis from reported financials.
American Tower’s returns on capital beat their cost in most measured years: 5 of 5 indicators passed.
Quantitative signs of a moat, read from the filed statements. This is not a judgement of where it comes from (brand, network effects, switching costs). How Lemma measures a moat →
Property companies are financed with debt by design and depreciate assets that do not economically wear out, so both solvency and profitability read oddly against a generic curve. Predictability, driven by long leases with built-in escalators, is the pillar that describes the business honestly. Worth reading as an illustration of where a sector-relative baseline matters most.
On the filings behind it, American Tower earns 5.6 out of 10 for business quality as of October 19, 2026. That is solid quality on our scale. A solid reading is a respectable business with clear strengths and at least one area that falls short of the best in its field. The figure is a weighted average of five pillars, each scored from 0 to 10 against sector-aware benchmarks from reported statements.
Among the 84 Real Estate companies with a published score, that ranks at the 63rd percentile, in the upper half of the group, short of the top quarter. For reference, the middle of the group scores 5.2 and a company needs 5.9 to reach its top quarter, which leaves American Tower in line with the median.
American Tower’s profitability score is 8.6 out of 10 (strong). Against a median of 4.8 among 80 Real Estate companies, that is well above the group and the 95th percentile. A reading this strong says the business earns well on what it sells and on the capital it uses, the kind of margin profile competitors find hard to copy.
American Tower’s solvency score is 2.1 out of 10 (weak). Against a median of 3.7 among 34 Real Estate companies, that is well below the group and the 23rd percentile. Weak solvency means debt is heavy relative to earnings or cash flow, which makes the business more sensitive to interest rates and to any fall in profits.
Growth scores 4.0 out of 10, which reads as average. The median across 74 Real Estate companies is 5.2, so American Tower is below its peers on this pillar and ranks at the 29th percentile. A middling growth reading is typical of a mature company whose next step depends on reinvestment rather than on its market growing for it.
On efficiency, American Tower scores 7.8, a strong reading. Its peers have a median of 6.4 across 80 Real Estate companies, which places it above them, at the 86th percentile. High efficiency means assets and earnings are being turned into cash and output better than at most peers, a sign of a well run operation.
American Tower’s predictability score is 5.3 out of 10 (average). Against a median of 4.9 among 83 Real Estate companies, that is in line with the group and the 62nd percentile. Consistency near the median is typical, and it is worth checking whether the swings came from the business itself or from one-off items.
This is a lopsided profile. Profitability scores 8.6 but solvency only 2.1, a gap of 6.5 points, so the overall hides a business that is excellent in one respect and weak in another. Leading with profitability is the most valuable kind of strength, because margins and returns are what the other pillars ultimately feed. A solvency shortfall makes the business more exposed to rising rates and to a weak year.
Closing the gap on solvency would do the most for the overall. At the median of Real Estate companies, 3.7, American Tower would score about 5.9 instead of 5.6. All five pillars could be scored, so the overall uses the full set of weights out of 100: profitability 25, solvency 20, growth 20, efficiency 15, predictability 20.
These are the Real Estate companies closest to American Tower in market value. Each has its own page scored on the same five pillars, so the comparison is like for like.
How much profit the company generates from its capital and sales.
The company’s ability to service debt and meet its obligations.
How fast revenue, earnings and cash flow are compounding.
How well assets and earnings convert into cash and output.
How stable and consistent results have been over time.
Each metric is scored from 0 to 10 against sector-aware benchmarks, where higher is better. Metrics roll up into five pillars, and the pillars combine into the overall score using the weights shown. Sector-sensitive metrics are judged relative to peers in the same sector.
This score is a systematic, backward-looking read of reported fundamentals. It does not judge valuation, management quality, competitive moat, or future prospects, and can be distorted by one-off items or unusual accounting. Treat it as a starting point, not a recommendation.
Educational only. Not investment advice.
On this reading American Tower scores 5.6 out of 10, which reads as solid quality. Its strongest pillar is profitability, its weakest is solvency. Quality is not the same as a good investment: the score says nothing about the price you would pay.
American Tower ranks at the 63rd percentile of the 84 Real Estate companies Lemma publishes a score for. The median there is 5.2 and the top quarter starts at 5.9, against American Tower’s 5.6.
Five pillars, each scored from 0 to 10 against sector-aware benchmarks and then weighted into one overall reading: profitability, solvency, growth, efficiency and predictability. Everything comes from reported financials, and nothing comes from price, sentiment or forecasts.
This page last changed on October 19, 2026. The score moves with the financial statements, so the page changes when a new filing moves the reading rather than on a schedule. Live figures for AMT are in the app.
No. Quality and valuation are separate questions, and a good business at the wrong price is still a bad purchase. Score the business here, then price it with a DCF you control.
Inside Lemma Analysis the same five pillars run on every company we cover, with the metrics behind each one, current fundamentals, a DCF you control and a watchlist that tells you when the price catches up.
Free to start · No credit card