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American Tower (American Tower) Cyclically Adjusted PS Ratio : 8.68 (As of Apr. 27, 2024)


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What is American Tower Cyclically Adjusted PS Ratio?

As of today (2024-04-27), American Tower's current share price is $171.69. American Tower's Cyclically Adjusted Revenue per Share for the quarter that ended in Dec. 2023 was $19.79. American Tower's Cyclically Adjusted PS Ratio for today is 8.68.

The historical rank and industry rank for American Tower's Cyclically Adjusted PS Ratio or its related term are showing as below:

AMT' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 8.15   Med: 15.94   Max: 21.79
Current: 8.76

During the past years, American Tower's highest Cyclically Adjusted PS Ratio was 21.79. The lowest was 8.15. And the median was 15.94.

AMT's Cyclically Adjusted PS Ratio is ranked worse than
77.35% of 490 companies
in the REITs industry
Industry Median: 4.995 vs AMT: 8.76

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

American Tower's adjusted revenue per share data for the three months ended in Dec. 2023 was $5.960. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is $19.79 for the trailing ten years ended in Dec. 2023.

Shiller PE for Stocks: The True Measure of Stock Valuation


American Tower Cyclically Adjusted PS Ratio Historical Data

The historical data trend for American Tower's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

American Tower Cyclically Adjusted PS Ratio Chart

American Tower Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 19.44 16.99 18.88 11.84 10.91

American Tower Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 11.84 11.02 10.17 8.40 10.91

Competitive Comparison of American Tower's Cyclically Adjusted PS Ratio

For the REIT - Specialty subindustry, American Tower's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


American Tower's Cyclically Adjusted PS Ratio Distribution in the REITs Industry

For the REITs industry and Real Estate sector, American Tower's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where American Tower's Cyclically Adjusted PS Ratio falls into.



American Tower Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

American Tower's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=171.69/19.79
=8.68

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

American Tower's Cyclically Adjusted Revenue per Share for the quarter that ended in Dec. 2023 is calculated as:

For example, American Tower's adjusted Revenue per Share data for the three months ended in Dec. 2023 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=5.96/129.4194*129.4194
=5.960

Current CPI (Dec. 2023) = 129.4194.

American Tower Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201403 2.466 99.695 3.201
201406 2.581 100.560 3.322
201409 2.593 100.428 3.342
201412 2.610 99.070 3.410
201503 2.636 99.621 3.424
201506 2.751 100.684 3.536
201509 2.898 100.392 3.736
201512 2.991 99.792 3.879
201603 3.013 100.470 3.881
201606 3.362 101.688 4.279
201609 3.524 101.861 4.477
201612 3.580 101.863 4.548
201703 3.757 102.862 4.727
201706 3.862 103.349 4.836
201709 3.883 104.136 4.826
201712 3.938 104.011 4.900
201803 3.972 105.290 4.882
201806 4.008 106.317 4.879
201809 4.020 106.507 4.885
201812 4.797 105.998 5.857
201903 4.079 107.251 4.922
201906 4.243 108.070 5.081
201909 4.382 108.329 5.235
201912 4.313 108.420 5.148
202003 4.471 108.902 5.313
202006 4.291 108.767 5.106
202009 4.512 109.815 5.317
202012 4.755 109.897 5.600
202103 4.836 111.754 5.600
202106 5.082 114.631 5.738
202109 5.371 115.734 6.006
202112 5.348 117.630 5.884
202203 5.819 121.301 6.208
202206 5.816 125.017 6.021
202209 5.723 125.227 5.915
202212 5.793 125.222 5.987
202303 5.928 127.348 6.024
202306 5.935 128.729 5.967
202309 6.033 129.860 6.013
202312 5.960 129.419 5.960

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


American Tower  (NYSE:AMT) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


American Tower Cyclically Adjusted PS Ratio Related Terms

Thank you for viewing the detailed overview of American Tower's Cyclically Adjusted PS Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.


American Tower (American Tower) Business Description

Industry
Address
116 Huntington Avenue, 11th Floor, Boston, MA, USA, 02116
American Tower owns and operates more than 220,000 cell towers throughout the U.S., Asia, Latin America, Europe, and Africa. It also owns and/or operates 28 data centers in 10 U.S. markets after acquiring CoreSite. On its towers, the company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company operates more than 40,000 towers in the U.S., which accounted for roughly half of the company's total revenue in 2022. Outside the U.S., American Tower operates over 75,000 towers in India, almost 50,000 towers in Latin America (dominated by Brazil), 30,000 towers in Europe, and nearly 25,000 towers in Africa. American Tower operates as an REIT.
Executives
Joann A Reed director C/O AMERICAN TOWER CORP, 116 HUNTINGTON AVENUE, BOSTON MA 02116
Eugene M Noel officer: EVP & President, U.S. Tower 116 HUNTINGTON AVENUE, BOSTON MA 02116
Robert D Hormats director 85 BROAD STREET, NEW YORK NY 10004
Rodney M Smith officer: EVP, CFO & Treasurer 116 HUNTINGTON AVENUE, BOSTON MA 02116
Raymond P Dolan director 108 GOVERNOR DRIVE, BASKING RIDGE NJ 00924
Samme L Thompson director C/O TELIT ASSOCIATES, INC., 333 NORTH MICHIGAN AVENUE, CHICAGO IL 60601
Sanjay Goel officer: EVP & President, Asia-Pacific 116 HUNTINGTON AVENUE, BOSTON MA 02116
Ruth T Dowling officer: EVP, Chief Admin Ofr, GC & Sec 116 HUNTINGTON AVENUE, BOSTON MA 02116
Reeve Pamela D A director C/O AMERICAN TOWER CORPORATION, 116 HUNTINGTON AVE, BOSTON MA 02116
Meyer Robert Joseph Jr officer: SVP & Chief Accounting Officer 61 SCHOOL STREET, ARLINGTON MA 02476
Edmund Disanto officer: EVP, Chief Admin Ofr, GC & Sec C/O AMERICAN TOWER CORPORATION, 116 HUNTINGTON AVENUE, 11TH FLOOR, BOSTON MA 02116
Bruce L Tanner director 214 N TRYON STREET, CHARLOTTE NC 28202
Kelly C Chambliss director C/O CORESITE REALTY CORPORATION, 1001 17TH STREET, SUITE 500, DENVER CO 80202
Teresa Hillary Clarke director 2850 GOLF ROAD, ROLLING MEADOWS IL 60008
David E Sharbutt director 116 HUNTINGTON AVENUE, BOSTON MA 02116