What is American Tower Corporation (AMT) DCF Fair Value and Intrinsic Value in 2026?

American Tower Corporation (AMT) intrinsic value is calculated using conservative multi-stage Discounted Cash Flow (DCF) models, 5-year free cash flow trajectories, Graham Numbers, and owner earnings multiples. LocalAlpha tracks real-time margin of safety against live market prices.

What is American Tower Corporation's historical Return on Invested Capital (ROIC) and Moat Rating?

American Tower Corporation operates in the Real Estate sector (REIT - Specialty) with an economic moat rating of NARROW. LocalAlpha tracks 5-year audited quarterly ROIC, operating margin stability, and balance sheet solvency ratios.

What is American Tower Corporation's financial health rating and Piotroski F-Score?

American Tower Corporation's balance sheet quality is evaluated using the 9-point Piotroski F-Score, Altman Z-Score solvency model, debt-to-equity ratio, and quick/current liquidity coverage to guard against financial distress.

How does LocalAlpha monitor American Tower Corporation (AMT) for quarterly SEC filing thesis breaks?

LocalAlpha audits American Tower Corporation's 10-K, 10-Q, and 8-K regulatory filings on SEC EDGAR within 15 minutes of release. If reported metrics breach an investor's custom ROIC floor, operating margin boundary, or qualitative risk criteria, an autonomous breach audit is dispatched immediately.

StocksAMT

AMT

American Tower Corporation (REIReal Estate / REIT - SpecialtyINTACT

American Tower Corporation one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 148,000 communications sites and a highly interconnected footprint of U.S. data center facilities. American Tower Corporation was incorporated in 1995 in Delaware and is based in Massachusetts, Boston.

Share Price

$177.85

52W: $160.06 - $199.13

DCF Fair Value

$107.39

-65.6% Premium

Thesis Hub

P/E (TTM)

24.5x

ROIC

34.1%

Operating Margin

45.4%

FCF Yield

3.5%

Debt / Equity

4.39x

Piotroski Score

5/9

Altman Z-Score

2.15

Market Cap

$82.9B

Price vs. Intrinsic Value Corridor

Overvalued vs DCF ($107.39)

Historical market price overlaid against conservative DCF Fair Value & Benjamin Graham Margin of Safety bands.

Period Return (1Y)

—()

Period Range

$— - $—

DCF Fair Value

$107.39

MOS Buy Target (-25%)

$80.54

Valuation Overlays: DCF Fair Value ($107.39) 25% MOS Buy Target ($80.54) Revised Graham ($256.57) Graham Number ($36.14)

2-Stage Discounted Cash Flow (DCF) Workbench

Conservative intrinsic value model based on owner cash generation over a 10-year investment horizon. Opens with LocalAlpha's baseline assumptions (matching the fair value shown above) — adjust any input to stress-test.

Current Market Price

$177.85

DCF Fair Value

$107.42

-65.6% Premium

Starting Free Cash Flow ($M)$2,920M

$100M$2,920M (Reported)$50,000M

Stage 1 Growth (Years 1-5)18.0%

-5%10% (Target)35%

Stage 2 Growth (Years 6-10)4.5%

0%5%20%

Discount Rate (WACC / Hurdle)9.0%

6%9% (Standard)15% (High Risk)

Terminal Perpetual Growth2.5%

1% (GDP Floor)2.5% (Inflation)4.0%

Net Debt ($M)$43,200M

-$100B CashBalance Sheet+$150B Debt

10-Yr PV of Cash Flows

$37.8B

PV of Terminal Value

$55.5B

Implied Enterprise Value

$93.3B

Implied Equity Value

$50.1B

Year	Yr 1	Yr 2	Yr 3	Yr 4	Yr 5	Yr 6	Yr 7	Yr 8	Yr 9	Yr 10
Projected FCF ($M)	$3,446	$4,066	$4,798	$5,661	$6,680	$6,981	$7,295	$7,623	$7,966	$8,325
Present Value (PV)	$3,161	$3,422	$3,705	$4,011	$4,342	$4,162	$3,991	$3,826	$3,668	$3,516

Benjamin Graham & Buffett Value Models

Classical deep value metrics based on asset backing, normalized earnings power, and owner cash yield.

Graham Number-392.3% Premium

$36.13

Calculated as √(22.5 × EPS × BVPS). The maximum theoretical price a defensive investor should pay based purely on asset book value and current earnings.

EPS: $7.27BVPS: $7.98

Revised Graham Formula+30.7% MoS

$256.57

Formula: V = (EPS × (8.5 + 2g) × 4.4) / Y where g is the conservative 7-10 yr growth rate and Y is AAA Bond Yield.

Growth Rate (g%)

Bond Yield (Y%)

Buffett Owner Earnings3.3% Yield

$5.95 / share

True distributable cash flow: Net Income + D&A - Maintenance CapEx. Reflects the cash Buffett would extract without hurting unit volume.

Total: $2.8BYield: 3.3%

Reverse DCF: Market Growth Expectation

FAIR BARRIER

10.3% CAGR (Next 10 Yrs)

At the current price of $177.85, the market is assuming the business will compound Free Cash Flow at 10.3% per year for the next decade with a 9% hurdle rate.

Value Investor Verdict

ℹ Fair expectations: Requires steady execution.

Autonomous Thesis Underwriting

Surveil AMT with Mathematical Margin of Safety Rules

Set non-negotiable floor rules for American Tower Corporation (REI. If a newly filed quarterly 10-Q breaks your ROIC floor, operating margin boundary, or balance sheet leverage rules, receive an autonomous breach audit within 15 minutes.

Buffett Quality

ROIC > 15% • Margin > 15% • D/E < 0.5x

Margin Floor Guard

Current Margin 45.4% • Floor > 10%

Solvency Guard

Altman-Z > 2.6 • Current Ratio > 1.5x

Track AMT & Set Alerts Browse S&P 500 Coverage

Frequently Asked Questions: American Tower Corporation (REI (AMT) Intrinsic Valuation

Audited fundamentals, DCF intrinsic value sensitivity, and thesis break detection parameters for American Tower Corporation (REI.

Based on institutional multi-stage Discounted Cash Flow (DCF) modeling on audited SEC cash flows, American Tower Corporation (REI has an estimated DCF intrinsic fair value of $107.39 per share compared to its current market price of $177.85. This represents an estimated 65.6% premium over fair value. Additionally, its classic Benjamin Graham Number stands at $36.14.