American Tower Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	10,305	9,934	9,869	9,404	9,110
Other Revenue	339.6	193.7	143	241.1	247.3
Total Revenue	10,645	10,127	10,012	9,645	9,357
Revenue Growth (YoY	5.11%	1.15%	3.80%	3.08%	16.36%
Property Expenses	2,748	2,574	2,562	2,569	2,682
Selling, General & Administrative	940.7	933.4	946	902.1	811.6
Depreciation & Amortization	2,042	2,029	2,929	3,165	2,333
Other Operating Expenses	48.1	10.6	90.5	98.5	-25.1
Total Operating Expenses	5,779	5,547	6,527	6,735	5,801
Operating Income	4,866	4,580	3,486	2,911	3,556
Interest Expense	-1,359	-1,405	-1,388	-1,136	-870.9
Interest & Investment Income	134	135.2	118.6	49.1	40.4
Currency Exchange Gain (Loss)	-809.4	308.3	-330.6	451.4	557.9
Other Non-Operating Income	111.9	-1.1	4.3	-16.7	8.2
EBT Excluding Unusual Items	2,943	3,618	1,890	2,259	3,291
Merger & Restructuring Charges	-5.2	-8.9	-16.3	0.1	-245
Impairment of Goodwill	-	-	-80	-	-
Gain (Loss) on Sale of Investments	121.3	70.4	-	-	-
Gain (Loss) on Sale of Assets	70.9	-9.4	-52.4	-36.8	-22.7
Asset Writedown	-100.7	-68.6	-200	-147.3	-173.7
Other Unusual Items	14.7	23.4	10	11.5	-20.6
Pretax Income	3,044	3,625	1,529	2,086	2,829
Income Tax Expense	415.7	366.3	90.8	112.8	261.8
Earnings From Continuing Operations	2,629	3,259	1,439	1,973	2,568
Earnings From Discontinued Operations	-	-978.3	-71.4	-276.5	-
Net Income to Company	2,629	2,280	1,367	1,697	2,568
Minority Interest in Earnings	-99	-25.2	116.2	69.1	0.1
Net Income	2,530	2,255	1,483	1,766	2,568
Net Income to Common	2,530	2,255	1,483	1,766	2,568
Net Income Growth	12.17%	52.03%	-16.00%	-31.23%	51.88%
Basic Shares Outstanding	468	467	466	462	451
Diluted Shares Outstanding	469	468	467	463	453
Shares Change (YoY)	0.14%	0.21%	0.95%	2.09%	1.61%
EPS (Basic)	5.41	4.83	3.18	3.83	5.69
EPS (Diluted)	5.40	4.82	3.18	3.81	5.66
EPS Growth	12.03%	51.71%	-16.66%	-32.64%	49.34%
Dividend Per Share	6.800	6.480	6.450	5.860	5.210
Dividend Growth	4.94%	0.46%	10.07%	12.48%	15.01%
Operating Margin	45.71%	45.23%	34.82%	30.18%	38.00%
Profit Margin	23.76%	22.27%	14.82%	18.31%	27.44%
EBITDA	6,908	6,609	6,414	6,076	5,888
EBITDA Margin	64.89%	65.26%	64.06%	62.99%	62.93%
D&A For Ebitda	2,042	2,029	2,929	3,165	2,333
EBIT	4,866	4,580	3,486	2,911	3,556
EBIT Margin	45.71%	45.23%	34.82%	30.18%	38.00%
Funds From Operations (FFO)	4,161	5,233	-	-	-
FFO Per Share	8.88	11.18	-	-	-
Adjusted Funds From Operations (AFFO)	5,042	4,934	-	-	-
AFFO Per Share	10.76	10.54	-	-	-
FFO Payout Ratio	75.88%	58.76%	-	-	-
Effective Tax Rate	13.66%	10.11%	5.94%	5.41%	9.25%
Revenue as Reported	10,645	10,127	10,012	9,645	9,357

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.