American Tower (REIT) Cash Flow Statement
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At close: Oct 9, 4:00 PM ET · Delayed 15 min
American Tower (REIT) free cash flow
In fiscal 2025, American Tower (REIT) generated $5.46 billion of operating cash flow and spent $1.68 billion on capital expenditures. That left free cash flow of $3.78 billion, a free-cash-flow margin of 35.5% of revenue. Free cash flow was up 2.2% from the prior year's $3.70 billion.
American Tower (REIT) returned $3.55 billion to shareholders: $3.18 billion in dividends and $364.6 million in share repurchases, equal to 94% of free cash flow. Free cash flow covered dividend payments 1.2 times.
Summary generated from market data by MetaCap's automated system. Methodology
American Tower (REIT) cash flow statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 2.63B | 2.28B | 1.37B | 1.70B | 2.57B | 1.69B | 1.92B | 1.26B | 1.23B | 970.40M |
| Net Income growth (YoY) | +15.27% | +66.79% | -19.43% | -33.92% | +51.79% | -11.74% | +51.55% | +3.21% | +26.28% | +44.40% |
| Depreciation & Amortization | 2.04B | 2.03B | 2.93B | 3.16B | 2.33B | 1.88B | 1.78B | 2.11B | 1.72B | 1.53B |
| Stock-Based Compensation | 174.20M | 203.60M | 195.70M | 169.30M | 119.50M | 120.80M | 111.40M | 137.50M | 108.50M | 89.90M |
| Change in Working Capital | -159.20M | -101.90M | -432.40M | -1.14B | 552.10M | -99.80M | -99.30M | 7.30M | -229.30M | -76.30M |
| Operating Cash Flow | 5.46B | 5.29B | 4.72B | 3.70B | 4.82B | 3.88B | 3.75B | 3.75B | 2.93B | 2.70B |
| Capital Expenditures | -1.68B | -1.59B | -1.80B | -1.87B | -1.38B | -1.03B | -991.30M | -913.20M | -803.60M | -682.50M |
| Investing Cash Flow | -1.86B | 410.60M | -1.70B | -2.36B | -20.69B | -4.78B | -3.99B | -2.75B | -2.80B | -2.10B |
| Dividends Paid | -3.18B | -3.03B | -3.01B | -2.72B | -2.27B | -1.93B | -1.60B | -1.32B | -1.07B | -886.10M |
| Share Repurchases | -364.60M | 0 | 0 | -18.80M | 0 | -56.00M | -19.60M | -232.80M | -766.30M | 0 |
| Debt Issued | 3.00B | 3.57B | 5.68B | 1.29B | 6.76B | 7.93B | 4.88B | 584.90M | 0 | 0 |
| Debt Repaid | -9.45B | -12.43B | -13.23B | -9.63B | -13.18B | -13.88B | -9.23B | -4.88B | -6.48B | -5.09B |
| Financing Cash Flow | -4.21B | -5.45B | -3.10B | -1.42B | 16.42B | 1.22B | 521.70M | -607.70M | -113.00M | -99.30M |
| Net Change in Cash | -503.00M | 14.80M | -47.30M | -202.60M | 481.90M | 283.40M | 273.10M | 350.00M | 18.40M | 473.60M |
| Free Cash Flow | 3.78B | 3.70B | 2.92B | 1.82B | 3.44B | 2.85B | 2.76B | 2.84B | 2.12B | 2.02B |
This table shows 10 annual periods of American Tower (REIT)'s cash flow statement, from FY 2025 back to FY 2016, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow AMT's reporting calendar. What is a cash flow statement?