American Tower Corporation Financial Ratios — AMT 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 (%)	11.68	18.58	15.51	21.4	11.22	12.66	17.71	21.2	36.33	36.96	55.97	33.15	30.36	59.5	71.91
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 (%)	6.56	8.85	6.75	7.56	5.57	6.19	7.24	- -	- -	6.13	6.55	4.83	4.98	6.31	6.62
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 (%)	7.3	6.58	-0.81	10.19	-2.69	-0.13	0.75	-0.82	6.39	-5.15	6.46	-12.64	-37.36	3.78	-11.33

Credit (USD)

Credit Ratios API ChatGPT

	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	26.85	25.36	17.42	18.59	24.72	21.9	18.79	16.16	11.81	8.67	7.27	8.29	6.36	5.54	5.78
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 (%)	67.01	69.9	79.74	73.37	71.62	68.77	69	65.58	73.41	85.27	76.5	70.21	74.42	74.03	74.1
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 (%)	67.97	70.38	80.13	78.2	71.83	69.67	71.75	75.4	82.5	88.48	85.15	79.13	81	82	81.28
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 (%)	66.94	69.47	79.8	77.83	71.45	68.75	70.92	74.29	62.4	69.29	69.86	63.8	66.85	66.86	66.39
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)

Liquidity Ratios API ChatGPT

	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	26.85	25.36	17.42	18.59	24.72	21.9	18.79	16.16	11.81	8.67	7.27	8.29	6.36	5.54	5.78
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 (%)	67.01	69.9	79.74	73.37	71.62	68.77	69	65.58	73.41	85.27	76.5	70.21	74.42	74.03	74.1
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 (%)	67.97	70.38	80.13	78.2	71.83	69.67	71.75	75.4	82.5	88.48	85.15	79.13	81	82	81.28
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	2.09	2.4	1.73	2.01	1.87	1.92	2.21	2.27	2.18	2.01	1.66	1.38	1.42	1.41	1.34

Working Capital (USD)

Working Capital Ratios API ChatGPT

	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)

Enterprise Value API ChatGPT

	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	23,622	30,529	31,518	39,214	41,096	45,146	61,180	69,771	101,785	99,734	133,313	98,646	100,664	85,723	81,871
- 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	30,629	39,019	45,740	53,534	57,955	64,192	82,295	91,291	132,876	135,387	187,361	150,505	151,884	133,944	132,063
Total Capital	10,646	12,438	18,068	18,594	23,832	26,601	28,159	28,064	37,647	41,492	61,078	59,460	57,172	53,603	55,319
Total Debt/Capital (%)	67.97	70.38	80.13	78.2	71.83	69.67	71.75	75.4	82.5	88.48	85.15	79.13	81	82	81.28
Total Debt / EV	0.24	0.22	0.32	0.27	0.3	0.29	0.25	0.23	0.23	0.27	0.28	0.31	0.3	0.33	0.34
EV/Sales	12.53	13.57	13.61	13.06	12.15	11.09	12.35	12.27	17.53	16.84	20.02	15.6	15.17	13.23	12.41
EV/EBITDA	20.76	22.12	22.71	21.49	20	18.7	20.79	20.31	28.85	27.02	33.1	23.97	22.93	19.91	18.95
EV/EBIT	33.29	34.85	37.67	36	35.93	33.67	36.7	38.28	46.99	43.29	56.29	51.5	42.94	29.1	26.79
EV/Cash Flow to Firm	21.85	22.22	22.78	20.02	21.87	19.33	22.5	19.62	29.1	29.31	33.4	31.55	25.2	20.44	19.9
EV/Free Cash Flow to Firm	15.91	16.79	16.74	14.67	17.15	16.03	18.45	16.4	23.91	23.96	26.82	22.65	19.41	16.45	15.88
Diluted Market Cap	24,016	30,853	31,860	39,549	41,011	45,367	61,589	70,072	102,389	100,133	132,588	98,038	100,851	85,858	82,300
Diluted Enterprise Value	31,045	39,349	46,100	53,875	57,871	64,417	82,705	91,591	133,480	135,785	186,636	149,897	152,071	134,079	132,492
EV per Share	77.81	98.76	115.84	134.95	136.72	150.26	191.91	206.98	300.02	304.7	411.08	323.24	325.73	286.58	283.2
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)

Valuation Multiples API ChatGPT

	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	14.22	15.56	13.71	12.72	14.16	13.41	16.52	15.03	21.58	20.38	21.4	17.6	15.47	12.48	11.52
EV/EBIT	33.29	34.85	37.67	36	35.93	33.67	36.7	38.28	46.99	43.29	56.29	51.5	42.94	29.1	26.79
Enterprise Value	30,629	39,019	45,740	53,534	57,955	64,192	82,295	91,291	132,876	135,387	187,361	150,505	151,884	133,944	132,063
Low Price	45.85	57.98	67.89	78.38	86.83	83.07	102.51	130.37	153.93	174.32	197.5	178.17	154.58	170.46	170.77
EV/Sales	12.53	13.57	13.61	13.06	12.15	11.09	12.35	12.27	17.53	16.84	20.02	15.6	15.17	13.23	12.41
EV/EBITDA	20.76	22.12	22.71	21.49	20	18.7	20.79	20.31	28.85	27.02	33.1	23.97	22.93	19.91	18.95
Price/Earnings	59.9	47.87	57.19	48.86	68.27	52.9	53.05	56.68	53.85	58.9	51.43	55.37	67.83	37.98	32.48
Price/Earnings Average	53.22	42.38	54.86	44.72	67.49	52.99	48.38	52.21	47.67	63.39	45.61	62.73	61.01	42.22	37.1
Price/Earnings High	60.79	47.87	61.09	52.55	73.32	59.2	57.74	60.4	56.7	71.43	53.41	76.46	74.02	50.44	43.35
Price/Earnings Low	45.76	35.92	48.64	38.74	61.14	41.58	38.12	46.71	36.07	45.74	34.73	46.57	48.57	35.3	31.59
Price/Book Value	7.19	8.54	8.92	9.92	6.18	6.67	9.8	13.08	20.13	24.36	26.24	17.7	23.98	25.35	22.42
Price/Book Value Average	6.39	7.57	8.55	9.08	6.11	6.69	8.94	12.04	17.82	26.22	23.27	20.05	21.57	28.17	25.6
Price/Book Value High	7.29	8.54	9.53	10.67	6.64	7.47	10.67	13.93	21.2	29.55	27.24	24.44	26.16	33.66	29.92
Price/Book Value Low	5.49	6.41	7.59	7.86	5.53	5.25	7.04	10.78	13.49	18.92	17.72	14.89	17.17	23.56	21.8
Price/Tangible Book Value	-12.54	-12.33	-4.57	-5.68	-5.65	-4.71	-5.47	-6.15	-7.57	-5.86	-4.6	-3.89	-4.23	-3.75	-3.54
Price/Tangible Book Value Average	-11.14	-10.92	-4.39	-5.2	-5.58	-4.72	-4.99	-5.67	-6.7	-6.3	-4.08	-4.41	-3.8	-4.17	-4.04
Price/Tangible Book Value High	-12.73	-12.33	-4.89	-6.11	-6.06	-5.27	-5.96	-6.56	-7.97	-7.1	-4.77	-5.37	-4.61	-4.98	-4.72
Price/Tangible Book Value Low	-9.58	-9.25	-3.89	-4.5	-5.06	-3.7	-3.93	-5.07	-5.07	-4.55	-3.1	-3.27	-3.03	-3.49	-3.44
Price/Sales	9.72	10.61	9.38	9.55	8.51	7.77	9.17	9.35	13.41	12.38	14.11	10.14	10.05	8.46	7.72
Price/Sales Average	8.64	9.39	9	8.74	8.41	7.78	8.36	8.61	11.87	13.33	12.52	11.48	9.04	9.4	8.82
Price/Sales High	9.86	10.61	10.02	10.27	9.14	8.69	9.98	9.96	14.12	15.02	14.66	14	10.97	11.23	10.3
Price/Sales Low	7.43	7.96	7.98	7.57	7.62	6.1	6.59	7.7	8.98	9.62	9.53	8.53	7.2	7.86	7.51
Price/Cash Flow	20.37	21.57	19.72	18.34	18.74	16.63	20.88	18.55	27.09	25.66	27.4	26.45	21.31	16.19	15.04
Price/Cash Flow Average	18.1	19.1	18.92	16.78	18.53	16.66	19.04	17.09	23.98	27.61	24.3	29.97	19.16	18	17.17
Price/Cash Flow High	20.67	21.57	21.06	19.72	20.13	18.61	22.73	19.77	28.52	31.11	28.45	36.53	23.25	21.5	20.07
Price/Cash Flow Low	15.56	16.18	16.77	14.54	16.79	13.07	15	15.29	18.14	19.92	18.5	22.25	15.26	15.05	14.62
Price/Free Cash Flow Average	12.63	13.78	13.15	11.64	14	13.43	15.06	13.85	19.11	21.94	18.98	19.94	13.91	13.87	13.16
Price/Free Cash Flow High	14.43	15.56	14.65	13.68	15.21	15	17.98	16.02	22.73	24.72	22.22	24.31	16.88	16.57	15.37
Price/Free Cash Flow Low	10.86	11.68	11.66	10.09	12.68	10.54	11.87	12.39	14.46	15.83	14.45	14.8	11.07	11.6	11.2
EV/Sales Average	11.47	12.35	13.23	12.25	12.05	11.11	11.54	11.53	15.99	17.78	18.41	16.96	14.16	14.17	13.5
EV/Sales High	12.69	13.57	14.25	13.78	12.78	12.02	13.16	12.89	18.24	19.47	20.57	19.5	16.09	16	14.98
EV/Sales Low	10.26	10.92	12.21	11.08	11.25	9.43	9.77	10.62	13.1	14.07	15.4	13.98	12.32	12.63	12.2
EV/EBITDA Average	18.99	20.14	22.08	20.16	19.84	18.73	19.43	19.08	26.31	28.54	30.43	26.06	21.4	21.33	20.62
EV/EBITDA High	21.01	22.12	23.78	22.68	21.05	20.27	22.16	21.33	30.02	31.26	34	29.96	24.32	24.09	22.88
EV/EBITDA Low	16.99	17.8	20.38	18.24	18.52	15.89	16.44	17.58	21.55	22.58	25.45	21.48	18.62	19.01	18.62
EV/EBIT Average	30.45	31.73	36.63	33.77	35.64	33.71	34.29	35.98	42.86	45.72	51.76	55.98	40.08	31.18	29.15
EV/EBIT High	33.7	34.85	39.45	38	37.82	36.49	39.11	40.21	48.9	50.07	57.83	64.35	45.54	35.21	32.35
EV/EBIT Low	27.25	28.05	33.8	30.55	33.27	28.6	29.02	33.14	35.1	36.16	43.28	46.13	34.86	27.78	26.34
Last Price	60.01	77.27	79.82	98.85	96.95	105.68	142.67	158.19	229.82	224.46	292.5	211.86	215.88	183.41	175.57
High Price	60.91	77.27	85.26	106.31	104.12	118.26	155.28	168.58	242	272.2	303.72	292.55	235.57	243.56	234.33
Enterprise Value Average	28,019	35,527	44,475	50,215	57,486	64,269	76,904	85,788	121,201	142,993	172,272	163,612	141,762	143,511	143,709
Enterprise Value High	31,006	39,025	47,907	56,500	60,994	69,570	87,703	95,873	138,270	156,599	192,474	188,075	161,066	162,057	159,464
Enterprise Value Low	25,078	31,403	41,048	45,420	53,665	54,537	65,074	79,021	99,265	113,108	144,062	134,818	123,301	127,891	129,825

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	0.9	0.95	0.79	0.81	0.76	1.85	1.87	2.74	3.39	3.93	4.28	4.36	3.76	4.28	3.16
Book Value per Share	8.35	9.04	8.95	9.97	15.69	15.83	14.56	12.1	11.41	9.21	11.15	11.97	9	7.24	7.83
Tangible Book Value per Share	-4.79	-6.27	-17.45	-17.4	-17.17	-22.43	-26.07	-25.71	-30.35	-38.33	-63.62	-54.48	-51.08	-48.91	-49.61

American Tower Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)