AMT American Tower

FY2025 10-K
Filed: Feb 24, 2026
Financials
Real Estate Investment TrustsSEC EDGAR

American Tower (AMT) filed its fiscal year 2025 10-K annual report with the SEC on Feb 24, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.

AI Filing Analysis
FY2025 10-K

Business Overview

  • Global REIT leasing tower/data center space to wireless carriers; property ops = 97% of total revenue in 2025
  • Portfolio of 149,686 communications sites across 4 regions plus 30 data center facilities in 11 U.S. markets
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Management Discussion & Analysis

  • Total revenue $10.64B, up 5% YoY ($10.13B in 2024); property revenue $10.31B up 4%, Services $340M up 75%
  • Adjusted EBITDA $7.13B vs $6.81B prior year; net income $2.63B vs $2.28B (prior year burdened by $978M ATC TIPL discontinued operations loss)
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Risk Factors

  • AT&T Mexico arbitration over MLA lease calculations; ~$300M tenant revenue at risk, $30M reserves recorded in 2025 with future reserves expected
  • $37.2B consolidated debt as of Dec 31, 2025; covenant breaches could trigger cross-acceleration across credit facilities
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Financial Summary
XBRL

Revenue

$936M

Net Income

$2.5B

Operating Margin

517.8%

Net Margin

270.3%

ROE

69.3%

Total Assets

$63.2B

EPS (Diluted)

$5.40

Operating Cash Flow

$5.5B

Source: XBRL data from American Tower FY2025 10-K filing on SEC EDGAR. All figures in USD.

Other American Tower Annual Reports

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