Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
AMT delivered 6.8% revenue growth to $2.74B in Q1 FY2026, but operating margin compressed 370 bps to 45.3% while EPS surged 75.2% to $1.84, likely aided by non-operating items, even as liquidity tightened with current liabilities spiking 53.7%.
Revenue
$2.74B
+6.82% YoY
EPS (Diluted)
$1.84
+76.92% YoY
Operating Income
$1.24B
-1.19% YoY
Source: SEC XBRL
American Tower (AMT) reported Q1 FY2026 revenue of $2.74B, up 6.8% year over year. Operating margin was 45.3%, down 3.6 points from 48.9% a year earlier. Operating cash flow was $1.4B, up 8.2% year over year. AMT's fiscal Q1 FY2026 corresponds to calendar Q1 2026.
Last 4 quarters: 4 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 1.87 | 1.58 | Beat +18.6% |
| Mar 2026This filing | 1.84 | 1.62 | Beat +13.6% |
| Dec 2025 | 1.75 | 1.49 | Beat +17.2% |
| Sep 2025 | 1.82 | 1.66 | Beat +9.6% |
Reported EPS of $1.84 versus the $1.62 analyst consensus — a +13.6% beat for Mar 2026.
Compiled by AI from this SEC filing
AMT grew total revenue 6.8% year-over-year to $2.74B in Q1 FY2026 from $2.56B in the prior-year period, reflecting continued demand for tower and infrastructure assets across its portfolio.
Source: 10-Q Income Statement, Financial Data
Operating income declined 1.2% to $1.24B despite higher revenues, causing operating margin to contract approximately 370 basis points to 45.3% from 48.9%, suggesting cost growth outpaced revenue gains. SG&A expenses rose 8.4% YoY to $257.4M, contributing to the margin pressure.
Source: 10-Q Income Statement & Key Ratios, Financial Data
Basic EPS jumped 75.2% to $1.84 from $1.05, a gain far exceeding the modest operating income decline, suggesting significant non-operating income, asset sale gains, or reduced interest/tax expense contributed materially to net income in Q1 FY2026.
Source: 10-Q Income Statement, Financial Data
Operating cash flow grew 8.2% YoY to $1.40B, outpacing revenue growth and demonstrating the asset-heavy tower business model's ability to convert revenue into cash. Investing outflows increased to -$473.7M from -$350.1M, reflecting higher capital deployment.
Source: 10-Q Cash Flow Statement, Financial Data
Current liabilities surged 53.7% YoY to $9.72B while current assets fell 15.7% to $2.96B, resulting in a current ratio of only 0.30, indicating near-term liquidity pressure that may reflect debt maturities or reclassifications coming due within the next 12 months.
Source: 10-Q Balance Sheet, Financial Data
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
AMT's current ratio stands at a critically low 0.30, with current liabilities of $9.72B vastly exceeding current assets of $2.96B. Cash and equivalents declined 23.5% YoY to $1.61B. This imbalance may signal significant debt maturities approaching within 12 months that could require refinancing in a potentially unfavorable rate environment.
Source: 10-Q Balance Sheet, Financial Data
AMT's debt-to-equity ratio stands at an elevated 15.07x, reflecting the capital-intensive nature of tower infrastructure ownership financed largely with debt. Total liabilities of $53.08B dwarf stockholders' equity of $3.52B. Rising interest rates could significantly increase refinancing costs and pressure free cash flow available for dividends.
Source: 10-Q Balance Sheet & Key Ratios, Financial Data
Operating margin compressed approximately 370 basis points YoY to 45.3% in Q1 FY2026, even as revenues grew 6.8%. SG&A costs rose 8.4%, outpacing revenue growth, and operating income actually declined 1.2% in absolute terms. Sustained margin pressure could impair the company's ability to service its substantial debt load.
Source: 10-Q Income Statement & Key Ratios, Financial Data
The 75.2% surge in basic EPS to $1.84 is dramatically inconsistent with the 1.2% decline in operating income, raising questions about the sustainability and quality of reported earnings. If the EPS boost stems from one-time asset sales, tax benefits, or non-recurring items, future quarters may not replicate this performance.
Source: 10-Q Income Statement, Financial Data
Investing cash outflows increased 35.3% YoY to -$473.7M in Q1 FY2026, indicating accelerating capital spending. Given the already high leverage, continued elevated capex could strain free cash flow and limit financial flexibility, particularly if revenue growth moderates.
Source: 10-Q Cash Flow Statement, Financial Data
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 2.74 $B | 2.56 $B | +6.82% |
Operating Income $B | 1.24 $B | 1.25 $B | -1.19% |
EPS (Basic) $ | 1.84 $ | 1.05 $ | +75.24% |
EPS (Diluted) $ | 1.84 $ | 1.04 $ | +76.92% |
SG&A Expense $M | 257.40 $M | 237.50 $M | +8.38% |
Answers draw on this SEC filing and the data on this page
American Tower's Q2 FY2026 total revenue grew 5% year-over-year to $2,749.1 million, driven by strong growth in Africa & APAC (23%), Data Centers (13%) and Latin America (13%) property segments, though total other expense fell 62% to $259.5 million partly due to favorable foreign currency movements, while the company continues to navigate disputes with AT&T Mexico and the now-bankrupt DISH Wireless."
AMT (American Tower) delivered solid FY2025 results with revenue growing 5.1% to $10.6B and operating income rising 7.3% to $4.8B, while maintaining a strong 45.5% operating margin and generating $5.5B in operating cash flow.
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