American TowerAMT -3.29%79 EV-to-FCF is 34.15 as of Jun. 25, 2026, which is 19% below its 10-year median of 42.17. GuruFocus rates AMT with a GF Score™ of 79/100 and a GF Value™ of $207.11 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 740 REITs companies, American Tower ranks worse than 70.81% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, American Tower's Enterprise Value is $128,757 Mil.
American Tower's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $3,771 Mil. Therefore, American Tower's EV-to-FCF for today is 34.15.
The historical rank and industry rank for American Tower's EV-to-FCF or its related term are showing as below:
AMT'
s EV-to-FCF Range Over the Past 10 Years
Min: 31.47 Med: 42.17 Max: 102.2
Current: 34.15
During the past 13 years, the highest EV-to-FCF of American Tower was 102.20. The lowest was 31.47. And the median was 42.17.
AMT's EV-to-FCF is ranked worse than 70.81% of 740
companies
in the REITs industry
Industry Median: 23.095
vs AMT: 34.15
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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 $168.72.
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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
American Tower EV-to-FCF Related Terms
American Tower EV-to-FCF Historical Data
* Premium members only.
The historical data trend for American Tower's EV-to-FCF 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-FCF, along with its competitors' market caps and EV-to-FCF 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-FCF vs REITs Industry
For the REITs industry and Real Estate sector, American Tower's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where American Tower's EV-to-FCF falls into.
American Tower's current Enterprise Value is $128,757 Mil.
American Tower's Free Cash Flow 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 $3,771 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-FCF of 34.15 as of Jun. 25, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on American Tower and its competitors. This is 19% below median its historical median of 42.17. Over the past decade, American Tower's EV-to-FCF has ranged from 31.47 to 102.20. According to the industry distribution chart, American Tower ranks #524 out of 740 companies in the REITs industry, placing it in the top 70.8%.
Is American Tower's EV-to-FCF too high?
American Tower's current EV-to-FCF of 34.15 is 19% below median its 10-year median of 42.17. Over the past 10 years, this metric has ranged from a low of 31.47 to a high of 102.20. The REITs industry median EV-to-FCF is 23.10. American Tower's value of 34.15 is 47.9% above this industry median. Based on the distribution chart, American Tower ranks #524 out of 740 companies in the REITs industry, which is below the industry midpoint. Overall, American Tower has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does American Tower's EV-to-FCF compare to EQIX and DLR?
According to the REITs industry distribution chart, American Tower ranks #524 out of 740 companies for EV-to-FCF. This places American Tower in the lower half of its industry. The industry median EV-to-FCF is 23.10. American Tower's value of 34.15 is 47.9% above this benchmark. Historically, American Tower's own EV-to-FCF has ranged from 31.47 to 102.20 over the past decade. While the company's 10-year median is 42.17 vs. the industry median of 23.10, 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-FCF for a REITs company?
The median EV-to-FCF among REITs companies is 23.10, based on 740 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. American Tower's current EV-to-FCF of 34.15 is 47.9% 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-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on American Tower and its competitors. For the REITs industry, the median EV-to-FCF is 23.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. American Tower's current EV-to-FCF is 34.15, which is 19% below median its own 10-year median of 42.17. 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 $207.11, compared to a current price of $168.72 — trading 18.5% below its estimated fair value. The current EV-to-FCF is 34.15, which is 19% below median its 10-year median of 42.17 and 47.9% above the REITs industry median of 23.10. American Tower's overall GF Score™ is 79/100 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-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For American Tower (AMT), the current EV-to-FCF is 34.15 as of Jun. 25, 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 $168.72 is trading 18.5% below its estimated GF Value™ of $207.11.
GuruFocus considers American Tower to be Modestly Undervalued.
Key valuation signals for AMT:
EV-to-FCF: 34.15 (19% below median its 10-year median of 42.17)
GF Value™: $207.11 vs. price of $168.72 (18.5% below fair value)
Industry Position: 47.9% above the REITs median (#524 of 740)
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.
79GF Score
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