American Tower Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Rental Revenue	10,116	9,934	9,869	9,404	9,110	7,954
Other Revenue	338.9	193.7	143	241.1	247.3	87.9
Total Revenue	10,455	10,127	10,012	9,645	9,357	8,042
Revenue Growth (YoY	4.17%	1.15%	3.80%	3.08%	16.36%	6.08%
Property Expenses	2,688	2,574	2,562	2,569	2,682	2,227
Selling, General & Administrative	947.3	933.4	946	902.1	811.6	778.7
Depreciation & Amortization	2,027	2,029	2,929	3,165	2,333	1,882
Other Operating Expenses	-5.3	-18	18.2	98.5	-25.1	-12.9
Total Operating Expenses	5,657	5,519	6,454	6,735	5,801	4,875
Operating Income	4,798	4,609	3,558	2,911	3,556	3,166
Interest Expense	-1,336	-1,405	-1,388	-1,136	-870.9	-793.5
Interest & Investment Income	125.7	135.2	118.6	49.1	40.4	39.7
Currency Exchange Gain (Loss)	-272	308.3	-330.6	451.4	557.9	-216.4
Other Non-Operating Income	-3.4	-1.1	-	-16.7	8.2	-24.4
EBT Excluding Unusual Items	3,312	3,647	1,958	2,259	3,291	2,172
Merger & Restructuring Charges	-26.6	-29	-9.7	0.1	-245	-43
Impairment of Goodwill	-	-	-80	-	-	-
Gain (Loss) on Sale of Investments	105.7	70.4	4.3	-	-	-
Gain (Loss) on Sale of Assets	35.7	-17.9	-131.3	-36.8	-22.7	-17.3
Asset Writedown	-68.6	-68.6	-200	-147.3	-173.7	-222.8
Other Unusual Items	27	23.4	10	11.5	-20.6	-67.4
Pretax Income	3,385	3,625	1,529	2,086	2,829	1,821
Income Tax Expense	362.8	366.3	90.8	112.8	261.8	129.6
Earnings From Continuing Operations	3,022	3,259	1,439	1,973	2,568	1,692
Earnings From Discontinued Operations	-	-978.3	-71.4	-276.5	-	-
Net Income to Company	3,022	2,280	1,367	1,697	2,568	1,692
Minority Interest in Earnings	-83.8	-25.2	116.2	69.1	0.1	-0.9
Net Income	2,938	2,255	1,483	1,766	2,568	1,691
Net Income to Common	2,938	2,255	1,483	1,766	2,568	1,691
Net Income Growth	164.65%	52.03%	-16.00%	-31.23%	51.88%	-10.45%
Basic Shares Outstanding	468	467	466	462	451	444
Diluted Shares Outstanding	469	468	467	463	453	446
Shares Change (YoY)	0.19%	0.21%	0.95%	2.09%	1.61%	0.13%
EPS (Basic)	6.28	4.83	3.18	3.83	5.69	3.81
EPS (Diluted)	6.27	4.82	3.18	3.81	5.66	3.79
EPS Growth	164.45%	51.71%	-16.66%	-32.64%	49.34%	-10.61%
Dividend Per Share	6.720	6.480	6.450	5.860	5.210	4.530
Dividend Growth	2.44%	0.46%	10.07%	12.48%	15.01%	19.84%
Operating Margin	45.89%	45.51%	35.54%	30.18%	38.00%	39.37%
Profit Margin	28.11%	22.27%	14.82%	18.31%	27.44%	21.02%
EBITDA	6,728	6,637	6,487	6,076	5,888	5,049
EBITDA Margin	64.36%	65.54%	64.79%	62.99%	62.93%	62.78%
D&A For Ebitda	1,931	2,029	2,929	3,165	2,333	1,882
EBIT	4,798	4,609	3,558	2,911	3,556	3,166
EBIT Margin	45.89%	45.51%	35.54%	30.18%	38.00%	39.37%
Funds From Operations (FFO)	4,524	5,233	4,610	-	-	-
FFO Per Share	-	11.18	9.87	-	-	-
Adjusted Funds From Operations (AFFO)	-	4,934	4,612	-	-	-
AFFO Per Share	-	10.54	9.87	-	-	-
FFO Payout Ratio	68.94%	58.76%	63.98%	-	-	-
Effective Tax Rate	10.72%	10.11%	5.94%	5.41%	9.25%	7.12%
Revenue as Reported	10,455	10,127	10,012	9,645	9,357	8,042

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