Start with its own history
At 25.90×, AMT is 50.2% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · AMTREIT - SpecialtyUpdated Nov 2, 2026
American Tower Corporation P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
25.90×
50.2% belowthe 10-year annual average
Share price188.3
÷Earnings per share7.27
Price and EPS in quote currency. Calculation details
Investors are paying 25.90 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 52.00×
3-year average46.12×3 positive annual observations
5-year average49.02×5 positive annual observations
10-year average52.00×10 positive annual observations
Peer median · TTM32.49×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 32.51× | -14.4% |
| Dec 31, 2024 | 37.97× | -44.1% |
| Dec 31, 2023 | 67.89× | +22.7% |
| Dec 31, 2022 | 55.32× | +7.6% |
| Dec 31, 2021 | 51.41× | -12.7% |
| Dec 31, 2020 | 58.91× | +9.5% |
| Dec 31, 2019 | 53.82× | -4.4% |
| Dec 31, 2018 | 56.30× | +6.1% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 53.04× | +0.4% |
| Dec 31, 2016 | 52.84× | -22.6% |
| Dec 31, 2015 | 68.27× | +39.5% |
| Dec 31, 2014 | 48.94× | -14.2% |
| Dec 31, 2013 | 57.01× | +18.8% |
| Dec 31, 2012 | 47.99× | -20.0% |
| Dec 31, 2011 | 60.01× | +8.1% |
| Dec 31, 2010 | 55.53× | -20.3% |
| Dec 31, 2009 | 69.69× | +109.2% |
| Dec 31, 2008 | 33.32× | -89.1% |
| Dec 31, 2007 | 304.29× | -51.0% |
| Dec 31, 2006 | 621.33× | N/M |
| Dec 31, 2005 | N/M | N/M |
| Dec 31, 2004 | N/M | N/M |
| Dec 31, 2003 | N/M | N/M |
| Dec 31, 2002 | N/M | N/M |
| Dec 31, 2001 | N/M | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How AMT compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 AMT This stockAmerican Tower Corporation | 25.90× |
 CCICrown Castle Inc. | 36.26× |
 SBACSBA Communications Corporation | 19.90× |
 DLRDigital Realty Trust, Inc. | 70.38× |
 EQIXEquinix, Inc. | 59.40× |
 IRMIron Mountain Incorporated | 82.27× |
 LAMRLamar Advertising Company | 28.72× |
 GLPIGaming and Leisure Properties, Inc. | 11.89× |
 OUTOutfront Media Inc. | 22.64× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does AMT’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 32.49×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take AMT into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("AMT", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 188.3 ÷ EPS 7.27 = 25.90×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 2, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
AMT P/E ratio: common questions
The essentials behind the numbers.
American Tower Corporation's current P/E is 25.90× based on the quote data last updated Nov 2, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.