AMT

NYSE

AMERICAN TOWER CORP /MA/

Real Estate, Telecom Tower REITs

$172.54

close 7 Aug 2026

-16.28%

52-week change

$80.40B

market cap

$160.06

$214.79

52-week range

Expected price

$255.16 – $311.86

Current price

$172.54

Signal

Could be undervalued

A historical-multiple reference, never a fair-value claim. The band uses only data public at each date and ends at the latest month — no forward estimates.

Current multiples

P/E (TTM)27.83x

P/S (TTM)7.43x

P/B22.82x

EV/EBITDA (TTM)16.83x

FCF yield (TTM)4.69%

PEG (TTM, GAAP)2.28

Context

P/E, own 5-year average55.76x

P/E, sector median34.68x*

Price at 5-year median P/E$291.83*

Indicated dividend yield4.15%

Forward — analyst consensus

Forward P/E (FY2026)24.71x*

Forward P/E (FY2027)24.64x

Forward PEG98.54*

Consensus EPS FY2026 (7 analysts)$6.98

EPS growth (FY2026→FY2027)0.25%

Revenue growth (FY2026)3.33%

Street view

Price target (mean)$215.48*

Target upside24.89%

Ratings (buy / hold / sell)21 / 4 / 0

FY2026 EPS revisions, 30d (up / down)1 / 1

5-year history

Dashed line: average of month-end values

P/E (TTM)

P/S (TTM)

P/B

FCF yield (TTM)

Dividend yield

period to 31 Mar 2026, filed 28 Apr 2026, close 7 Aug 2026

Discounted cash flow

Ten projected years plus a perpetuity, prefilled from filings — a model to argue with, never a fair-value claim.

Free cash flow, last ten years and TTM

5Y CAGR +5.83%10Y CAGR +10.03%

Assumptions

Growth rate, years 1–10%

Perpetual growth%Discount rate%

Base FCF$M

As filed — not assumptions

Current price$172.54

Cash & equivalents$1.61B

Total debt$37.32B

Shares outstanding465.99M

Result

DCF price per share$118.96

Current price$172.54

Margin of safety-31.05%

PV of years 1–10$33.78B

PV of terminal value$57.36B

Equity value$55.43B

Market-implied growth+8.93%

Projected FCF, years 1–10

Hover for PV and growth

Projection detail

Override growth for any year; blank years use the uniform rate

Year	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Growth, %											2.5
FCF	$3.99B	$4.22B	$4.47B	$4.73B	$5.01B	$5.30B	$5.61B	$5.93B	$6.28B	$6.65B	$123.85B
PV	$3.70B	$3.62B	$3.55B	$3.48B	$3.41B	$3.34B	$3.27B	$3.21B	$3.14B	$3.08B	$57.36B

period to 31 Mar 2026, filed 28 Apr 2026, close 7 Aug 2026