American Tower Corporation Financial Ratios — A0T.DU Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	3.51	4.84	3.21	3.97	2.84	3.31	3.87	3.73	4.98	3.76	4.38	2.58	2.23	3.55	4.07
Return on Capital (%)	13.28	15.08	9.75	10.17	7.88	8.94	10.01	- -	- -	7.18	7.39	5.46	5.75	7.34	7.8
Return on Invested Capital (%)	7.01	8.19	7.06	7.5	6.13	6.49	7.94	- -	- -	7.3	5.86	4.58	5.72	7.49	7.85
Gross Margin (%)	74.68	74.94	74.47	73.36	72.61	69.1	69.14	70.77	70.79	72.3	71.34	73.36	74.42	74.58	74.18
EBITDA Margin (%)	60.39	61.34	59.93	60.75	60.74	59.32	59.4	60.42	60.76	62.3	60.5	65.09	66.15	66.43	65.49
Operating Margin (%)	37.66	38.93	36.12	36.27	33.8	32.95	33.65	32.05	37.3	38.89	35.57	30.3	35.32	45.45	46.31
Incremental Operating Margin (%)	29.63	46.15	19.48	36.91	18.75	28.97	38.26	18.29	316.05	65.03	15.27	-140.62	167.42	927.13	63.05
Pretax Margin (%)	20.74	24.38	16.12	21.11	17.39	19.46	18.85	15.52	25.28	22.65	30.24	21.63	15.27	35.79	28.6
Profit Margin (%)	16.22	22.16	16.4	20.12	14.36	16.53	18.59	16.62	24.9	21.02	27.44	18.31	14.81	22.27	23.76
Net Income to Common Margin (%)	16.22	22.16	16.4	19.54	12.47	14.68	17.28	16.49	24.9	21.02	27.44	18.31	14.81	22.27	23.76
Effective Tax Rate (%)	24.68	15.3	10.99	7.22	19.04	13.81	2.44	- -	- -	7.12	9.25	5.41	5.94	10.11	13.66
Dvd Payout Ratio (%)	37.52	64.56	105.23	52.37	124.02	101	95.78	103.85	82.4	113.93	88.45	138.14	223.04	93.64	115.75
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	7,236	8,753	14,478	14,540	17,119	18,534	20,205	21,160	31,060	36,712	52,009	47,051	46,307	43,954	44,964
ST Debt	102	60	70	897	50	239	775	2,755	3,423	1,330	5,281	5,303	3,758	4,270	3,973
LT Debt	7,134	8,693	14,408	13,643	17,069	18,295	19,430	18,405	27,638	35,382	46,727	41,748	42,549	39,684	40,991
Total Debt/EBITDA	4.9	4.96	7.19	5.84	5.91	5.4	5.1	4.71	6.74	7.33	9.19	7.49	6.99	6.53	6.45
Net Debt/EBITDA	4.68	4.75	7.04	5.71	5.8	5.17	4.9	4.44	4.9	5.5	7.3	5.84	5.59	5.13	5.13
Total Debt/EBIT	7.86	7.82	11.92	9.78	10.61	9.72	9.01	8.87	10.98	11.74	15.63	16.1	13.09	9.55	9.12
Net Debt/EBIT	7.51	7.49	11.68	9.57	10.42	9.31	8.65	8.37	7.98	8.81	12.41	12.54	10.47	7.5	7.25
EBITDA to Interest Expense	4.71	4.38	4.38	4.28	4.86	4.78	5.28	5.45	5.66	6.31	6.5	5.53	4.77	4.79	5.13
EBITDA-CapEx/Interest Expense	3.04	2.97	2.81	2.61	3.64	3.83	4.21	4.34	4.44	5.01	4.92	3.88	3.48	3.66	3.89
EBIT to Interest Expense	2.94	2.78	2.64	2.56	2.7	2.65	2.99	2.89	3.47	3.94	3.82	2.57	2.55	3.28	3.63
Interest Expense	313	403	460	582	597	718	750	826	814	794	871	1,136	1,388	1,404	1,359
Common Equity/Total Assets	-12.04	-8.47	-5.31	-3.92	-3.7	-3.47	-3.17	-3.62	-2.37	-2.83	-1.63	-3.12	-5.5	-7.24	-8.04
Long-Term Debt/Equity (%)	209.21	235.96	401.34	336.58	254.27	226.77	244.27	266.57	419.58	740.13	515.21	336.45	391.6	411.29	395.85
Long-Term Debt/Capital (%)	121.23	113.32	107.07	98.81	105.45	97.5	93.13	85.47	87.52	98.12	85.18	80.61	86.24	86.64	87.99
Long-Term Debt/Total Assets (%)	58.28	61.7	71.03	64.16	63.44	59.25	58.5	55.76	64.57	74.91	66.86	62.13	64.44	64.97	64.87
Total Debt/Equity (%)	212.2	237.59	403.29	358.72	255.02	229.73	254.01	306.47	471.55	767.95	573.44	379.18	426.19	455.54	434.21
Total Debt/Capital (%)	122.96	114.1	107.59	105.31	105.76	98.77	96.84	98.27	98.36	101.81	94.8	90.85	93.85	95.97	96.52
Total Debt/Total Assets (%)	59.11	62.13	71.38	68.38	63.63	60.02	60.83	64.1	72.57	77.72	74.42	70.02	70.13	71.96	71.16
Net Debt to Equity	202.52	227.59	395.11	350.99	250.24	219.97	243.93	288.96	342.41	576.12	455.41	295.3	340.97	357.58	345.19
Net Debt/Capital (%)	124.32	114.81	107.76	105.44	105.88	98.72	96.71	98.16	74.98	80.26	78.07	73.63	77.85	78.77	79.24
EBITDA	1,476	1,764	2,014	2,491	2,898	3,432	3,958	4,495	4,606	5,010	5,661	6,278	6,623	6,728	6,971
EBITDA-CapEx	953	1,196	1,290	1,516	2,169	2,750	3,155	3,582	3,615	3,978	4,284	4,404	4,825	5,138	5,290
Operating Income (Loss)	920	1,120	1,214	1,487	1,613	1,907	2,243	2,385	2,828	3,128	3,328	2,923	3,537	4,603	4,929

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.45	0.59	0.33	0.17	0.27	0.49	0.32	0.26	0.27	0.48	0.22	0.24	0.24	0.28	0.21
Current Ratio	0.99	1.32	1.06	0.5	0.83	1.04	0.81	0.51	0.47	0.79	0.41	0.44	0.51	0.45	0.4
Quick Ratio	0.68	0.91	0.61	0.29	0.51	0.73	0.59	0.4	0.4	0.68	0.33	0.38	0.35	0.39	0.34
CFO/Avg Current Liab	1.76	2	2.04	1.49	1.38	1.91	1.41	1.04	0.74	0.85	0.76	0.43	0.61	0.74	0.78
Common Equity/Total Assets	-12.04	-8.47	-5.31	-3.92	-3.7	-3.47	-3.17	-3.62	-2.37	-2.83	-1.63	-3.12	-5.5	-7.24	-8.04
Long-Term Debt/Equity (%)	209.21	235.96	401.34	336.58	254.27	226.77	244.27	266.57	419.58	740.13	515.21	336.45	391.6	411.29	395.85
Long-Term Debt/Capital (%)	121.23	113.32	107.07	98.81	105.45	97.5	93.13	85.47	87.52	98.12	85.18	80.61	86.24	86.64	87.99
Long-Term Debt/Total Assets (%)	58.28	61.7	71.03	64.16	63.44	59.25	58.5	55.76	64.57	74.91	66.86	62.13	64.44	64.97	64.87
Total Debt/Equity (%)	212.2	237.59	403.29	358.72	255.02	229.73	254.01	306.47	471.55	767.95	573.44	379.18	426.19	455.54	434.21
Total Debt/Capital (%)	122.96	114.1	107.59	105.31	105.76	98.77	96.84	98.27	98.36	101.81	94.8	90.85	93.85	95.97	96.52
Total Debt/Total Assets (%)	59.11	62.13	71.38	68.38	63.63	60.02	60.83	64.1	72.57	77.72	74.42	70.02	70.13	71.96	71.16
CFO/Total Liabilities	13.2	13.59	9.58	12.4	10.73	11.84	11.58	14.36	10.36	9.14	7.93	6.75	8.56	10.29	10.34
CFO/CapEx	2.23	2.49	2.21	2.19	2.97	3.96	3.64	4.1	3.79	3.76	3.5	1.97	2.63	3.33	3.25
Altman's Z-Score	2.1	2.36	1.72	2.02	1.88	1.91	2.21	2.26	2.15	1.99	1.62	1.38	1.42	1.4	1.33

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	26.92	23.56	22.81	23.41	22.38	21.6	16.21	15.3	16.46	16.52	15.09	12.97	15.33	18.62	17.89
Days Sales Outstanding	13.56	15.49	16	15.59	16.31	16.9	22.51	23.86	22.18	22.1	24.2	28.14	23.8	19.6	20.41
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	2.43	4.72	6.54	8.3	13.97	16.6	15.72	15.89	15.88	15.51	13.04	10.47	10.9	10.46	10.98
Accounts Payable Turnover Days	150	77.36	55.82	43.99	26.13	21.99	23.21	22.97	22.99	23.53	28	34.88	33.48	34.89	33.24
Cash Conversion Cycle	-136.44	-61.87	-39.82	-28.4	-9.82	-5.09	-0.7	0.89	-0.81	-1.43	-3.81	-6.74	-9.68	-15.29	-12.84
Inventory to Cash Days	13.56	15.49	16	15.59	16.31	16.9	22.51	23.86	22.18	22.1	24.2	28.14	23.8	19.6	20.41
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	23,769	29,826	31,049	39,588	41,364	44,902	61,025	69,352	99,859	98,305	129,598	99,278	100,311	84,503	81,754
- Cash & Cash Equivalents	330	369	294	313	321	787	802	1,209	1,501	1,746	1,950	2,028	1,754	2,000	1,475
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	123	111	56	100	61	1,304	1,713	1,568	1,532	687	3,988	6,836	6,667	6,266	6,703
+ Total Debt	7,236	8,753	14,478	14,540	17,119	18,534	20,205	21,160	31,060	36,712	52,009	47,051	46,307	43,954	44,964
Enterprise Value	30,776	38,316	45,271	53,908	58,223	63,948	82,140	90,872	130,949	133,958	183,645	151,137	151,532	132,724	131,945
Total Capital	5,885	7,672	13,457	13,807	16,186	18,764	20,864	21,533	31,580	36,060	54,859	51,790	49,340	45,801	46,586
Total Debt/Capital (%)	122.96	114.1	107.59	105.31	105.76	98.77	96.84	98.27	98.36	101.81	94.8	90.85	93.85	95.97	96.52
Total Debt / EV	0.24	0.23	0.32	0.27	0.29	0.29	0.25	0.23	0.24	0.27	0.28	0.31	0.31	0.33	0.34
EV/Sales	12.59	13.32	13.47	13.15	12.2	11.05	12.33	12.21	17.27	16.66	19.63	15.67	15.13	13.11	12.4
EV/EBITDA	20.86	21.72	22.47	21.64	20.09	18.63	20.75	20.21	28.43	26.74	32.44	24.07	22.88	19.73	18.93
EV/EBIT	33.45	34.22	37.28	36.25	36.1	33.54	36.63	38.11	46.31	42.83	55.18	51.71	42.84	28.83	26.77
EV/Cash Flow to Firm	21.95	21.82	22.54	20.16	21.97	19.26	22.46	19.53	28.67	29.01	32.73	31.68	25.14	20.25	19.88
EV/Free Cash Flow to Firm	15.99	16.49	16.57	14.77	17.23	15.97	18.41	16.33	23.56	23.71	26.28	22.75	19.36	16.3	15.86
Diluted Market Cap	24,038	30,167	31,371	40,000	41,770	45,339	61,525	69,882	100,581	98,851	130,114	99,543	100,548	84,704	81,899
Diluted Enterprise Value	31,067	38,663	45,612	54,327	58,629	64,389	82,640	91,401	131,672	134,504	184,161	151,402	151,768	132,925	132,091
EV per Share	77.77	97.06	114.6	136.15	138.99	150.41	191.83	206.71	296.05	301.95	406.75	327.48	325.13	284.2	281.98
TTM Sales	2,444	2,876	3,361	4,100	4,772	5,786	6,664	7,440	7,580	8,042	9,357	9,645	10,012	10,127	10,645
TTM EBITDA	1,476	1,764	2,014	2,491	2,898	3,432	3,958	4,495	4,606	5,010	5,661	6,278	6,623	6,728	6,971
TTM Operating Income	920	1,120	1,214	1,487	1,613	1,907	2,243	2,385	2,828	3,128	3,328	2,923	3,537	4,603	4,929
TTM Cash Flow to Firm	1,402	1,756	2,008	2,674	2,650	3,321	3,657	4,653	4,567	4,618	5,610	4,771	6,028	6,553	6,638
TTM Free Cash Flow to Firm	1,925	2,324	2,733	3,649	3,379	4,003	4,460	5,566	5,558	5,650	6,987	6,644	7,826	8,143	8,318

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	14.23	15.22	13.5	12.87	14.42	13.4	16.5	14.99	21.2	20.12	21	17.87	15.42	12.31	11.46
EV/EBIT	33.45	34.22	37.28	36.25	36.1	33.54	36.63	38.11	46.31	42.83	55.18	51.71	42.84	28.83	26.77
Enterprise Value	30,776	38,316	45,271	53,908	58,223	63,948	82,140	90,872	130,949	133,958	183,645	151,137	151,532	132,724	131,945
Low Price	45.89	54.35	67.96	78.42	86.44	82.84	101.77	132.31	154.06	179.71	198.33	181.76	156.6	169.37	172.18
EV/Sales	12.59	13.32	13.47	13.15	12.2	11.05	12.33	12.21	17.27	16.66	19.63	15.67	15.13	13.11	12.4
EV/EBITDA	20.86	21.72	22.47	21.64	20.09	18.63	20.75	20.21	28.43	26.74	32.44	24.07	22.88	19.73	18.93
Price/Earnings	59.95	46.8	56.32	49.42	69.53	52.87	53	56.52	52.9	58.15	50.47	56.22	67.63	37.47	32.32
Price/Earnings Average	52.63	41.72	54.47	44.43	67.12	52.58	47.92	51.77	47.26	63.23	45.44	62.52	60.79	42.15	37.01
Price/Earnings High	59.95	47.69	60.31	51.74	72.33	59.08	56.4	59.89	57.14	71.15	53.31	75.77	73.18	49.91	43.14
Price/Earnings Low	45.81	33.67	48.7	38.76	60.87	41.47	37.84	47.4	36.1	47.16	34.87	47.51	49.2	35.08	31.85
Price/Book Value	-16.13	-25	-28.82	-47.51	-41.6	-41.86	-57.91	-58.04	-98.65	-73.45	-113.91	-47.34	-27.6	-19.12	-16.09
Price/Book Value Average	-14.16	-22.29	-27.87	-42.71	-40.16	-41.63	-52.36	-53.15	-88.13	-79.86	-102.55	-52.64	-24.81	-21.51	-18.42
Price/Book Value High	-16.13	-25.48	-30.86	-49.73	-43.28	-46.78	-61.64	-61.5	-106.55	-89.87	-120.31	-63.8	-29.87	-25.47	-21.48
Price/Book Value Low	-12.32	-17.99	-24.92	-37.26	-36.42	-32.83	-41.35	-48.67	-67.31	-59.57	-78.71	-40	-20.08	-17.9	-15.86
Price/Tangible Book Value	-13.5	-12.61	-4.54	-5.82	-5.73	-5.42	-6.45	-7.1	-8.38	-6.02	-5.18	-5.36	-5.85	-5.09	-4.98
Price/Tangible Book Value Average	-11.85	-11.24	-4.39	-5.23	-5.53	-5.39	-5.83	-6.5	-7.49	-6.54	-4.67	-5.96	-5.26	-5.73	-5.7
Price/Tangible Book Value High	-13.5	-12.85	-4.87	-6.09	-5.96	-6.06	-6.86	-7.52	-9.06	-7.36	-5.47	-7.22	-6.33	-6.78	-6.64
Price/Tangible Book Value Low	-10.31	-9.07	-3.93	-4.56	-5.02	-4.25	-4.6	-5.95	-5.72	-4.88	-3.58	-4.53	-4.26	-4.77	-4.9
Price/Sales	9.73	10.37	9.24	9.66	8.67	7.76	9.16	9.32	13.17	12.22	13.85	10.29	10.02	8.34	7.68
Price/Sales Average	8.54	9.24	8.93	8.68	8.37	7.72	8.28	8.54	11.77	13.29	12.47	11.45	9.01	9.39	8.79
Price/Sales High	9.73	10.57	9.89	10.11	9.02	8.67	9.75	9.88	14.23	14.96	14.63	13.87	10.84	11.11	10.25
Price/Sales Low	7.43	7.46	7.99	7.57	7.59	6.09	6.54	7.82	8.99	9.91	9.57	8.7	7.29	7.81	7.57
Price/Cash Flow	20.39	21.09	19.42	18.55	19.09	16.62	20.86	18.5	26.61	25.33	26.89	26.86	21.24	15.97	14.96
Price/Cash Flow Average	17.9	18.8	18.78	16.67	18.43	16.53	18.86	16.95	23.78	27.54	24.21	29.87	19.09	17.97	17.13
Price/Cash Flow High	20.39	21.49	20.8	19.41	19.86	18.57	22.2	19.61	28.74	30.99	28.4	36.2	22.99	21.27	19.97
Price/Cash Flow Low	15.58	15.17	16.79	14.55	16.71	13.04	14.89	15.52	18.16	20.54	18.58	22.7	15.45	14.95	14.75
Price/Free Cash Flow Average	12.49	13.57	13.06	11.57	13.93	13.32	14.92	13.73	18.94	21.88	18.9	19.87	13.86	13.85	13.13
Price/Free Cash Flow High	14.23	15.51	14.46	13.47	15.01	14.97	17.56	15.89	22.9	24.62	22.18	24.09	16.69	16.4	15.3
Price/Free Cash Flow Low	10.87	10.95	11.67	10.09	12.63	10.51	11.78	12.57	14.47	16.32	14.51	15.1	11.22	11.52	11.3
EV/Sales Average	11.42	12.2	13.17	12.18	11.9	11.01	11.45	11.43	15.87	17.73	18.25	16.82	14.12	14.15	13.51
EV/Sales High	12.6	13.52	14.13	13.6	12.55	11.97	12.92	12.77	18.33	19.39	20.4	19.25	15.96	15.87	14.97
EV/Sales Low	10.31	10.41	12.22	11.07	11.12	9.38	9.71	10.71	13.09	14.35	15.35	14.07	12.41	12.57	12.28
EV/EBITDA Average	18.9	19.89	21.98	20.04	19.6	18.56	19.27	18.92	26.12	28.45	30.16	25.85	21.35	21.29	20.63
EV/EBITDA High	20.87	22.05	23.58	22.39	20.66	20.17	21.74	21.13	30.17	31.12	33.73	29.57	24.12	23.9	22.86
EV/EBITDA Low	17.07	16.98	20.4	18.22	18.31	15.81	16.34	17.73	21.54	23.03	25.37	21.62	18.75	18.92	18.76
EV/EBIT Average	30.32	31.33	36.46	33.57	35.21	33.41	34.02	35.66	42.55	45.58	51.29	55.52	39.98	31.12	29.17
EV/EBIT High	33.47	34.73	39.11	37.51	37.13	36.31	38.38	39.84	49.14	49.86	57.36	63.52	45.17	34.93	32.32
EV/EBIT Low	27.38	26.75	33.84	30.52	32.91	28.46	28.85	33.42	35.09	36.89	43.14	46.45	35.12	27.66	26.53
Last Price	60.07	75.55	78.6	99.98	98.74	105.62	142.52	157.76	225.76	221.59	287.04	215.11	215.23	180.94	174.72
High Price	60.07	76.99	84.18	104.66	102.72	118.03	151.69	167.17	243.86	271.12	303.16	289.92	232.9	241	233.22
Enterprise Value Average	27,895	35,084	44,270	49,919	56,792	63,705	76,293	85,038	120,309	142,542	170,723	162,259	141,393	143,267	143,798
Enterprise Value High	30,798	38,888	47,494	55,768	59,888	69,231	86,066	95,008	138,954	155,931	190,925	185,662	159,767	160,769	159,322
Enterprise Value Low	25,190	29,952	41,089	45,377	53,070	54,268	64,691	79,683	99,233	115,380	143,592	135,745	124,204	127,318	130,760

Shares Outstanding	394	395	395	397	424	427	429	441	443	444	456	466	466	467	466
Diluted Weighted Avg Shares	400	399	399	400	423	429	432	443	446	446	453	463	467	468	469
Basic Weighted Avg Shares	396	395	395	396	419	425	428	440	442	444	451	462	466	467	468
Revenue per Share	6.18	7.29	8.51	10.35	11.39	13.61	15.56	16.92	17.14	18.13	20.72	20.9	21.48	21.69	22.75
EBITDA per Share	3.73	4.47	5.1	6.29	6.92	8.07	9.24	10.23	10.41	11.29	12.54	13.6	14.21	14.41	14.9
Operating Income per Share	2.33	2.84	3.07	3.76	3.85	4.48	5.24	5.42	6.39	7.05	7.37	6.33	7.59	9.86	10.53
Basic EPS, GAAP	1	1.61	1.4	2.02	1.42	2	2.69	2.79	4.27	3.81	5.69	3.83	3.18	4.83	5.41
Basic EPS from Cont Ops	0.96	1.5	1.22	2.03	1.6	2.28	2.86	2.88	4.33	3.81	5.69	4.28	3.09	6.98	5.62
Diluted EPS, GAAP	0.99	1.6	1.38	2	1.41	1.98	2.67	2.77	4.24	3.79	5.66	3.82	3.18	4.82	5.4
Diluted EPS from Cont Ops	0.95	1.49	1.21	2.01	1.59	2.26	2.84	2.86	4.3	3.79	5.66	4.26	3.08	6.96	5.61
Dividend per Share	0.35	0.9	1.1	1.06	1.9	2.34	2.72	3.05	3.62	4.35	5.03	5.7	6.33	6.58	6.75
Cash Flow per Share	2.95	3.58	4.05	5.39	5.17	6.35	6.83	8.53	8.48	8.75	10.68	8.01	10.13	11.33	11.68
Free Cash Flow per Basic Share	1.62	2.14	2.21	2.93	3.43	4.75	4.96	6.45	6.24	6.42	7.63	3.95	6.27	7.92	8.09
Cash & Equivalents per Share	0.89	0.95	0.79	0.81	0.77	1.86	1.88	2.75	3.39	3.94	4.32	4.4	3.76	4.28	3.15
Book Value per Share	-3.72	-3.02	-2.73	-2.1	-2.37	-2.52	-2.46	-2.72	-2.29	-3.02	-2.52	-4.54	-7.8	-9.46	-10.86
Tangible Book Value per Share	-4.45	-5.99	-17.3	-17.18	-17.23	-19.47	-22.11	-22.23	-26.93	-36.84	-55.39	-40.15	-36.8	-35.53	-35.11

American Tower Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)