AMERICAN TOWER CORP /MA/ (AMT) closed fiscal year 2025 with a gross margin of 74.2 % and a net margin of 23.8 %.
AMERICAN TOWER CORP /MA/ (AMT) closed fiscal year 2025 with a gross margin of 74.2 % and a net margin of 23.8 %. The same year shows an EBITDA margin of 64.7 % and an EBIT margin of 45.5 %. The free cash flow margin was 35.5 %. Against the previous year the gross margin moved −0.4 pp and the net margin +1.5 pp. Across the period the gross margin ranges between 73.4 % in 2022 and 99.5 % in 2016. The series covers 19 fiscal years, from 2007 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 98.89 % | 98.32 % | 98.12 % | 98.64 % | 98.74 % | 98.76 % | 99.07 % | 99.07 % | 99.30 % | 99.52 % | 99.48 % | 99.34 % | 99.43 % | — | — | 73.36 % | 74.42 % | 74.58 % | 74.18 % |
| EBITDA margin (%) | 61.88 % | 63.51 % | 63.04 % | 62.72 % | 60.39 % | 61.34 % | 59.93 % | 60.75 % | 60.74 % | 58.40 % | 55.74 % | 53.98 % | 58.93 % | 59.31 % | 58.40 % | 61.21 % | 60.47 % | 64.63 % | 64.70 % |
| EBIT margin (%) | 25.98 % | 38.08 % | 38.99 % | 39.51 % | 37.66 % | 38.93 % | 36.12 % | 36.27 % | 33.80 % | 32.03 % | 29.99 % | 25.60 % | 35.47 % | 35.91 % | 33.47 % | 28.39 % | 31.22 % | 44.60 % | 45.52 % |
| Net margin (%) | 3.87 % | 21.79 % | 14.30 % | 18.78 % | 16.22 % | 22.16 % | 16.40 % | 20.12 % | 14.36 % | 16.53 % | 18.59 % | 16.62 % | 24.90 % | 21.02 % | 27.44 % | 18.31 % | 14.81 % | 22.27 % | 23.76 % |
| FCF margin (%) | 36.96 % | 33.25 % | 34.33 % | 33.96 % | 26.31 % | 29.43 % | 26.02 % | 28.30 % | 30.48 % | 34.93 % | 31.84 % | 38.11 % | 36.43 % | 35.44 % | 36.80 % | 18.90 % | 29.21 % | 36.54 % | 35.54 % |
