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American TowerAMT -0.12%77 EV-to-EBITDA is 18.67 as of Jul. 16, 2026, which is 21% below its 10-year median of 23.56. 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 683 REITs companies, American Tower ranks worse than 67.06% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, American Tower's enterprise value is $128,715 Mil.
American Tower's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was $6,894 Mil. Therefore, American Tower's EV-to-EBITDA for today is 18.67.
The historical rank and industry rank for American Tower's EV-to-EBITDA or its related term are showing as below:
AMT'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 18.1 Med: 23.56 Max: 34.12
Current: 18.67
During the past 13 years, the highest EV-to-EBITDA of American Tower was 34.12. The lowest was 18.10. And the median was 23.56.
AMT's EV-to-EBITDA is ranked worse than 67.06% of 683
companies
in the REITs industry
Industry Median: 15.38
vs AMT: 18.67
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
American Tower (NYSE:AMT) EV-to-EBITDA Explanation
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
American Tower's PE Ratio (TTM) for today is calculated as:
American Tower's share price for today is $168.63.
American Tower's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $6.190.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for American Tower's EV-to-EBITDA 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 EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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 EV-to-EBITDA vs REITs Industry
For the REITs industry and Real Estate sector, American Tower's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where American Tower's EV-to-EBITDA falls into.
American Tower's current Enterprise Value is $128,715 Mil.
American Tower's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $6,894 Mil.
* 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 EV-to-EBITDA of 18.67 as of Jul. 16, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on American Tower. This is 21% below median its historical median of 23.56. Over the past decade, American Tower's EV-to-EBITDA has ranged from 18.10 to 34.12. According to the industry distribution chart, American Tower ranks #458 out of 683 companies in the REITs industry, placing it in the top 67.1%.
Is American Tower's EV-to-EBITDA too high?
American Tower's current EV-to-EBITDA of 18.67 is 21% below median its 10-year median of 23.56. Over the past 10 years, this metric has ranged from a low of 18.10 to a high of 34.12. The REITs industry median EV-to-EBITDA is 15.38. American Tower's value of 18.67 is 21.4% above this industry median. Based on the distribution chart, American Tower ranks #458 out of 683 companies in the REITs industry, which is below the industry midpoint. 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 EV-to-EBITDA compare to DLR and EQIX?
According to the REITs industry distribution chart, American Tower ranks #458 out of 683 companies for EV-to-EBITDA. This places American Tower in the lower half of its industry. The industry median EV-to-EBITDA is 15.38. American Tower's value of 18.67 is 21.4% above this benchmark. Historically, American Tower's own EV-to-EBITDA has ranged from 18.10 to 34.12 over the past decade. While the company's 10-year median is 23.56 vs. the industry median of 15.38, 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 EV-to-EBITDA for a REITs company?
The median EV-to-EBITDA among REITs companies is 15.38, based on 683 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. American Tower's current EV-to-EBITDA of 18.67 is 21.4% 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 EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on American Tower. For the REITs industry, the median EV-to-EBITDA is 15.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. American Tower's current EV-to-EBITDA is 18.67, which is 21% below median its own 10-year median of 23.56. 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 EV-to-EBITDA is 18.67, which is 21% below median its 10-year median of 23.56 and 21.4% above the REITs industry median of 15.38. 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 EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For American Tower (AMT), the current EV-to-EBITDA is 18.67 as of Jul. 16, 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:
EV-to-EBITDA: 18.67 (21% below median its 10-year median of 23.56)
GF Value™: $207.44 vs. price of $168.63 (18.7% below fair value)
Industry Position: 21.4% above the REITs median (#458 of 683)
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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