American Tower (NYSE:AMT) Forward PE Ratio Explanation
The Forward PE Ratio of a company is often used to compare current earnings to estimated future earnings, as well as gaining a clearer picture of what earnings will look like without charges and other accounting adjustments. If earnings are expected to grow in the future, the Forward PE Ratio will be lower than the current PE Ratio. This measure is also used to compare one company to another with a forward-looking focus.
Trailing PE Ratio relies on what is already done. It uses the current share price and divides by the total EPS (Basic) over the past 12 months. PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than PE Ratio .
American Tower Forward PE Ratio Related Terms
American Tower Forward PE Ratio Historical Data
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The historical data trend for American Tower's Forward PE 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.
American Tower Forward PE Ratio Chart
American Tower Annual Data
Trend
2015-12
2016-12
2017-12
2018-12
2019-12
2020-12
2021-12
2022-12
2023-12
2024-12
2025-12
Forward PE Ratio
40.82
38.17
37.88
43.10
52.63
40.00
51.02
46.95
44.05
27.23
25.54
American Tower Quarterly Data
2015-12
2016-03
2016-06
2016-09
2016-12
2017-03
2017-06
2017-09
2017-12
2018-03
2018-06
2018-09
2018-12
2019-03
2019-06
2019-09
2019-12
2020-03
2020-06
2020-09
2020-12
2021-03
2021-06
2021-09
2021-12
2022-03
2022-06
2022-09
2022-12
2023-03
2023-06
2023-09
2023-12
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
2026-03
Forward PE Ratio
40.82
32.79
46.95
40.82
38.17
44.05
43.10
34.36
37.88
42.74
41.32
37.74
43.10
54.05
55.87
49.51
52.63
48.08
56.82
47.39
40.00
47.17
53.19
49.75
51.02
51.02
59.88
42.19
46.95
46.51
43.10
32.68
44.05
27.25
29.41
34.60
27.23
33.67
35.31
27.27
25.54
26.18
AMT vs DLR, EQIX, IRM: Forward PE Ratio Comparison
For the REIT - Specialty subindustry, American Tower's Forward PE Ratio, along with its competitors' market caps and Forward PE 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 Forward PE Ratio vs REITs Industry
For the REITs industry and Real Estate sector, American Tower's Forward PE Ratio distribution charts can be found below:
* The bar in red indicates where American Tower's Forward PE Ratio falls into.
It's a measure of the price-to-earnings ratio (PE Ratio) using forecasted earnings for the calculation. While the earnings used are just an estimate and are not as reliable as current earnings data, there is still benefit in estimated P/E analysis. The forecasted earnings used in the formula can either be for the next 12 months or for the next full-year fiscal period.
American Tower (AMT) has a Forward PE Ratio of 25.18 as of Jul. 05, 2026. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on American Tower and its competitors. According to the industry distribution chart, American Tower ranks #320 out of 461 companies in the REITs industry, placing it in the top 69.4%.
Is American Tower's Forward PE Ratio too high?
American Tower's current Forward PE Ratio is 25.18. The REITs industry median Forward PE Ratio is 16.30. American Tower's value of 25.18 is 54.5% above this industry median. Based on the distribution chart, American Tower ranks #320 out of 461 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 Forward PE Ratio compare to DLR and EQIX?
According to the REITs industry distribution chart, American Tower ranks #320 out of 461 companies for Forward PE Ratio. This places American Tower in the lower half of its industry. The industry median Forward PE Ratio is 16.30. American Tower's value of 25.18 is 54.5% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Forward PE Ratio for a REITs company?
The median Forward PE Ratio among REITs companies is 16.30, based on 461 companies in the industry. Companies in the top quartile (top 25%) have a Forward PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Forward PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. American Tower's current Forward PE Ratio of 25.18 is 54.5% 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 Forward PE Ratio mean?
A high Forward PE Ratio can signal that a stock is expensive relative to its fundamentals. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on American Tower and its competitors. For the REITs industry, the median Forward PE Ratio is 16.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. American Tower's current Forward PE Ratio is 25.18. 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 $207.32, compared to a current price of $166.03 — trading 19.9% below its estimated fair value. The current Forward PE Ratio is 25.18 and 54.5% above the REITs industry median of 16.30. 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 Forward PE Ratio calculated?
Forward PE Ratio is calculated from a company's financial statements. For American Tower (AMT), the current Forward PE Ratio is 25.18 as of Jul. 05, 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 $166.03 is trading 19.9% below its estimated GF Value™ of $207.32.
GuruFocus considers American Tower to be Modestly Undervalued.
Key valuation signals for AMT:
Forward PE Ratio: 25.18
GF Value™: $207.32 vs. price of $166.03 (19.9% below fair value)
Industry Position: 54.5% above the REITs median (#320 of 461)
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
Get the complete analysis for AMT
Forward PE Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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