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American TowerAMT -0.12%77 Debt-to-Equity is 12.81 as of Mar. 2026, which is 51% above its 10-year median of 8.47. GuruFocus rates AMT with a GF Score™ of 77/100 and a GF Value™ of $207.44 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 690 REITs companies, American Tower ranks worse than 99.28% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for American Tower's Debt-to-Equity or its related term are showing as below:
AMT'
s Debt-to-Equity Range Over the Past 10 Years
Min: 2.74 Med: 8.47 Max: 13
Current: 12.81
During the past 13 years, the highest Debt-to-Equity Ratio of American Tower was 13.00. The lowest was 2.74. And the median was 8.47.
AMT's Debt-to-Equity is ranked worse than 99.28% of 690
companies
in the REITs industry
Industry Median: 0.78
vs AMT: 12.81
American Tower (NYSE:AMT) Debt-to-Equity Explanation
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
American Tower Debt-to-Equity Related Terms
American Tower Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for American Tower's Debt-to-Equity 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.
For the REIT - Specialty subindustry, American Tower's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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 Debt-to-Equity vs REITs Industry
For the REITs industry and Real Estate sector, American Tower's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where American Tower's Debt-to-Equity falls into.
* 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 (AMT) has a Debt-to-Equity of 12.81 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on American Tower and its competitors. This is 51% above median its historical median of 8.47. Over the past decade, American Tower's Debt-to-Equity has ranged from 2.74 to 13.00. According to the industry distribution chart, American Tower ranks #685 out of 690 companies in the REITs industry, placing it in the top 99.3%.
Is American Tower's Debt-to-Equity too high?
American Tower's current Debt-to-Equity of 12.81 is 51% above median its 10-year median of 8.47. Over the past 10 years, this metric has ranged from a low of 2.74 to a high of 13.00. The REITs industry median Debt-to-Equity is 0.78. American Tower's value of 12.81 is 1542.3% above this industry median. Based on the distribution chart, American Tower ranks #685 out of 690 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, American Tower has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does American Tower's Debt-to-Equity compare to DLR and EQIX?
According to the REITs industry distribution chart, American Tower ranks #685 out of 690 companies for Debt-to-Equity. This places American Tower in the lower half of its industry. The industry median Debt-to-Equity is 0.78. American Tower's value of 12.81 is 1542.3% above this benchmark. Historically, American Tower's own Debt-to-Equity has ranged from 2.74 to 13.00 over the past decade. While the company's 10-year median is 8.47 vs. the industry median of 0.78, American Tower has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a REITs company?
The median Debt-to-Equity among REITs companies is 0.78, based on 690 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. American Tower's current Debt-to-Equity of 12.81 is 1542.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on American Tower and its competitors. For the REITs industry, the median Debt-to-Equity is 0.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. American Tower's current Debt-to-Equity is 12.81, which is 51% above median its own 10-year median of 8.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is American Tower stock overvalued right now?
Based on GuruFocus' analysis, American Tower (AMT) is currently considered Modestly Undervalued. The stock's GF Value™ is $207.44, compared to a current price of $168.63 — trading 18.7% below its estimated fair value. The current Debt-to-Equity is 12.81, which is 51% above median its 10-year median of 8.47 and 1542.3% above the REITs industry median of 0.78. American Tower's overall GF Score™ is 77/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For American Tower (AMT), the current Debt-to-Equity is 12.81 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is American Tower (AMT) Overvalued in 2026?
Based on GuruFocus' analysis, American Tower stock appears to be undervalued.
The current stock price of $168.63 is trading 18.7% below its estimated GF Value™ of $207.44.
GuruFocus considers American Tower to be Modestly Undervalued.
Key valuation signals for AMT:
Debt-to-Equity: 12.81 (51% above median its 10-year median of 8.47)
GF Value™: $207.44 vs. price of $168.63 (18.7% below fair value)
Industry Position: 1542.3% above the REITs median (#685 of 690)
No single metric tells the full story. See the AMT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
American Tower owns and operates about 150,000 wireless towers throughout the US, Asia, Latin America, Europe, and Africa. It also owns and/or operates 30 data centers in 11 US markets through its CoreSite segment. The company's customer base in the tower business is very concentrated, with most revenue in each market generated by the top three or four mobile carriers. The company operates 42,000 towers in the US, which accounted for about half of total revenue in 2025. Outside the US, American Tower operates about 47,000 towers in Latin America (dominated by Brazil), 33,000 towers in Europe, and 28,000 towers in Africa. American Tower operates as a REIT.
77GF Score
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