10-Year Return on Invested Incremental Capital (10-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 10-year.
American Tower's 10-Year ROIIC % for the quarter that ended in Dec. 2025 was 7.65%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for American Tower's 10-Year ROIIC % or its related term are showing as below:
AMT's 10-Year ROIIC % is ranked better than 80.45% of 573
companies
in the REITs industry
Industry Median: 3.63
vs AMT: 7.65
American Tower (NYSE:AMT) 10-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
American Tower 10-Year ROIIC % Related Terms
American Tower 10-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for American Tower's 10-Year ROIIC % 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 10-Year ROIIC %, along with its competitors' market caps and 10-Year ROIIC % 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 10-Year ROIIC % vs REITs Industry
For the REITs industry and Real Estate sector, American Tower's 10-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where American Tower's 10-Year ROIIC % 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.
** Annual data of NOPAT and Invested Capital was used to calculate 10-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
American Tower (AMT) has a 10-Year ROIIC % of 7.65 as of Dec. 2025. 10-Year ROIIC % measures the change in earnings as a percentage of change in investment over 10-year. View historical data on American Tower and its competitors. According to the industry distribution chart, American Tower ranks #112 out of 573 companies in the REITs industry, placing it in the top 19.5%.
Is American Tower's 10-Year ROIIC % too high?
American Tower's current 10-Year ROIIC % is 7.65. The REITs industry median 10-Year ROIIC % is 3.63. American Tower's value of 7.65 is 110.7% above this industry median. Based on the distribution chart, American Tower ranks #112 out of 573 companies in the REITs industry, which is in the top quartile — a strong position 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 10-Year ROIIC % compare to DLR and EQIX?
According to the REITs industry distribution chart, American Tower ranks #112 out of 573 companies for 10-Year ROIIC %. This places American Tower in the top 20% of its industry — outperforming the majority of peers. The industry median 10-Year ROIIC % is 3.63. American Tower's value of 7.65 is 110.7% 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 10-Year ROIIC % for a REITs company?
The median 10-Year ROIIC % among REITs companies is 3.63, based on 573 companies in the industry. Companies in the top quartile (top 25%) have a 10-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 10-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. American Tower's current 10-Year ROIIC % of 7.65 is 110.7% 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 10-Year ROIIC % mean?
A high 10-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 10-Year ROIIC % measures the change in earnings as a percentage of change in investment over 10-year. View historical data on American Tower and its competitors. For the REITs industry, the median 10-Year ROIIC % is 3.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. American Tower's current 10-Year ROIIC % is 7.65. 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 10-Year ROIIC % is 7.65 and 110.7% above the REITs industry median of 3.63. 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 10-Year ROIIC % calculated?
10-Year ROIIC % is calculated from a company's financial statements. For American Tower (AMT), the current 10-Year ROIIC % is 7.65 as of Dec. 2025. 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:
10-Year ROIIC %: 7.65
GF Value™: $207.32 vs. price of $166.03 (19.9% below fair value)
Industry Position: 110.7% above the REITs median (#112 of 573)
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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