Real Estate · Telecom Tower REITs
American Tower: revenue, profit and dividends
In fiscal 2025, American Tower had revenue of $10.6B, up 8.4% a year on average since 2015, and net income of $2.53B (23.8% of revenue). Its dividend per share has gone up 3 years in a row, to $6.72. It has 11% more shares than in 2015.
Revenue, fiscal 2025
average annual revenue growth since 2015 · +5.1% vs 2024
- Ticker
- AMT · NYSE
- Sector
- Real Estate
- Sub-industry
- Telecom Tower REITs
- Headquarters
- Boston, Massachusetts
- Founded
- 1995
- In the S&P 500 since
- November 19, 2007
- Latest fiscal year
- 2025, ended December 31, 2025
- SEC filer
- American Tower Corp /Ma · CIK 0001053507
Revenue and net income
Revenue went from $1.46B in 2007 to $10.6B in 2025.
Diluted earnings per share
Diluted EPS went from $0.13 in 2007 to $5.40 in 2025. Ten-year growth: 14.4% a year.
Dividends per share
Raised 3 years in a row, every year from 2023 to 2025.
Shares outstanding
10.8% more shares in 2025 than in 2015 (423M → 469M): new shares outweighed buybacks.
Operating cash flow, capex and free cash flow
Free cash flow (operating cash flow minus capital expenditure) was $3.78B in 2025, 35.5% of revenue.
The chart data could not be loaded. The table below has the same figures.
Year by year
| Fiscal year | Revenue | Net income | Net margin | Diluted EPS | Dividend | Shares | Operating cash flow | Capex | Free cash flow |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $10.6B | $2.53B | 23.8% | $5.40 | $6.72 | 469M | $5.46B | $1.68B | $3.78B |
| 2024 | $10.1B | $2.25B | 22.3% | $4.82 | $6.56 | 468M | $5.29B | $1.59B | $3.7B |
| 2023 | $10B | $1.48B | 14.8% | $3.18 | $6.31 | 467M | $4.72B | $1.8B | $2.92B |
| 2022 | $9.65B | $1.77B | 18.3% | $3.82 | $4.30 | 463M | $3.7B | $1.87B | $1.82B |
| 2021 | $9.36B | $2.57B | 27.4% | $5.66 | — | 453M | $4.82B | $1.38B | $3.44B |
| 2020 | $8.04B | $1.69B | 21.0% | $3.79 | — | 446M | $3.88B | $1.03B | $2.85B |
| 2019 | $7.58B | $1.89B | 24.9% | $4.24 | — | 446M | $3.75B | $991M | $2.76B |
| 2018 | $7.44B | $1.23B | 16.5% | $2.77 | — | 443M | $3.75B | $913M | $2.84B |
| 2017 | $6.66B | $1.15B | 17.3% | $2.67 | — | 432M | $2.93B | $804M | $2.12B |
| 2016 | $5.79B | $849M | 14.7% | $1.98 | — | 429M | $2.7B | $682M | $2.02B |
| 2015 | $4.77B | $595M | 12.5% | $1.41 | — | 423M | $2.17B | $729M | $1.44B |
| 2014 | $4.1B | $801M | 19.5% | $2.00 | — | 400M | $2.13B | $974M | $1.16B |
| 2013 | $3.36B | $551M | 16.4% | $1.38 | — | 399M | $1.6B | $725M | $875M |
| 2012 | $2.88B | $637M | 22.2% | $1.60 | $0.90 | 399M | $1.41B | $568M | $846M |
| 2011 | $2.44B | $396M | 16.2% | $0.99 | $0.35 | 400M | $1.17B | $523M | $643M |
| 2010 | $1.99B | $373M | 18.8% | $0.92 | $0.00 | 404M | $1.02B | $347M | $674M |
| 2009 | $1.72B | $247M | 14.3% | $0.61 | — | 407M | $842M | $250M | $592M |
| 2008 | $1.59B | $347M | 21.8% | $0.84 | — | 418M | $773M | $243M | $530M |
| 2007 | $1.46B | $56.3M | 3.9% | $0.13 | — | 426M | $693M | $154M | $538M |
Fiscal years, labelled by the year in which they end. US dollars; per-share figures and share counts adjusted for splits. —: not in the data.
About these figures
- REITs are usually judged by funds from operations (FFO), which is not in the filings data; their net income is after depreciation of the properties.
- Older years are as filed at the time and may predate later restatements, mergers or spin-offs. How the figures are made.
Other Telecom Tower REITs companies
Source: SEC EDGAR (company filings), data as of November 8, 2026. Sectors, sub-industries, headquarters and index dates: Wikipedia, CC BY-SA 4.0.