American TowerMEX:AMT -2.70%57 PB Ratio is 21.18 as of Jul. 01, 2026, which is 6% above its 10-year median of 20.06. GuruFocus rates MEX:AMT with a GF Score™ of 57/100 and a GF Value™ of MXN3,658.64 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 930 REITs companies, American Tower ranks worse than 99.57% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-01), American Tower's share price is MXN2887.13. American Tower's Book Value per Share for the quarter that ended in Mar. 2026 was MXN136.32. Hence, American Tower's PB Ratio of today is 21.18.
Good Sign:
American Tower Corp stock PB Ratio (=21.64) is close to 2-year low of 20.43.
The historical rank and industry rank for American Tower's PB Ratio or its related term are showing as below:
MEX:AMT'
s PB Ratio Range Over the Past 10 Years
Min: 6.51 Med: 20.06 Max: 32.4
Current: 21.64
During the past 13 years, American Tower's highest PB Ratio was 32.40. The lowest was 6.51. And the median was 20.06.
MEX:AMT's PB Ratio is ranked worse than 99.57% of 930
companies
in the REITs industry
Industry Median: 0.87
vs MEX:AMT: 21.64
During the past 12 months, American Tower's average Book Value Per Share Growth Rate was 0.10% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -13.20% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -6.60% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was -7.10% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of American Tower was 72.00% per year. The lowest was -24.20% per year. And the median was 1.10% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
American Tower PB Ratio Related Terms
American Tower PB Ratio Historical Data
* Premium members only.
The historical data trend for American Tower's PB 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.
For the REIT - Specialty subindustry, American Tower's PB Ratio, along with its competitors' market caps and PB 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 PB Ratio vs REITs Industry
For the REITs industry and Real Estate sector, American Tower's PB Ratio distribution charts can be found below:
* The bar in red indicates where American Tower's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
American Tower's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
American Tower (MEX:AMT) has a PB Ratio of 21.18 as of Jul. 01, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on American Tower and its competitors. This is near median its historical median of 20.06. Over the past decade, American Tower's PB Ratio has ranged from 6.51 to 32.40. According to the industry distribution chart, American Tower ranks #926 out of 930 companies in the REITs industry, placing it in the top 99.6%.
Is American Tower's PB Ratio too high?
American Tower's current PB Ratio of 21.18 is near median its 10-year median of 20.06. Over the past 10 years, this metric has ranged from a low of 6.51 to a high of 32.40. The REITs industry median PB Ratio is 0.87. American Tower's value of 21.18 is 2334.5% above this industry median. Based on the distribution chart, American Tower ranks #926 out of 930 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, American Tower has a GF Score™ of 57/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does American Tower's PB Ratio compare to DLR and EQIX?
According to the REITs industry distribution chart, American Tower ranks #926 out of 930 companies for PB Ratio. This places American Tower in the lower half of its industry. The industry median PB Ratio is 0.87. American Tower's value of 21.18 is 2334.5% above this benchmark. Historically, American Tower's own PB Ratio has ranged from 6.51 to 32.40 over the past decade. While the company's 10-year median is 20.06 vs. the industry median of 0.87, 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 PB Ratio for a REITs company?
The median PB Ratio among REITs companies is 0.87, based on 930 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. American Tower's current PB Ratio of 21.18 is 2334.5% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on American Tower and its competitors. For the REITs industry, the median PB Ratio is 0.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. American Tower's current PB Ratio is 21.18, which is near median its own 10-year median of 20.06. 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 (MEX:AMT) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN3,658.64, compared to a current price of MXN2,887.13 — trading 21.1% below its estimated fair value. The current PB Ratio is 21.18, which is near median its 10-year median of 20.06 and 2334.5% above the REITs industry median of 0.87. American Tower's overall GF Score™ is 57/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For American Tower (MEX:AMT), the current PB Ratio is 21.18 as of Jul. 01, 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 (MEX:AMT) Overvalued in 2026?
Based on GuruFocus' analysis, American Tower stock appears to be undervalued.
The current stock price of MXN2,887.13 is trading 21.1% below its estimated GF Value™ of MXN3,658.64.
GuruFocus considers American Tower to be Modestly Undervalued.
Key valuation signals for MEX:AMT:
PB Ratio: 21.18 (near median its 10-year median of 20.06)
GF Value™: MXN3,658.64 vs. price of MXN2,887.13 (21.1% below fair value)
Industry Position: 2334.5% above the REITs median (#926 of 930)
No single metric tells the full story. See the MEX: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.
57GF Score
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