American Tower (AMT)财务
NYSE · Real Estate · REIT - Specialty · 员工4,866人 · CEO Steven O. Vondran
- 股价
- $187.78 +1.02%
- 市值
- $871亿
- 企业价值
- $1310亿
- 最近财报
- Q3 '26 2026-10-27提交
- 下次财报
- 2027-02-23 EPS预期 $1.62
营收(TTM)$110亿+5.3% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)44.1%-1.8 百分点 对比去年同期营业利润 $48.6亿
净利润(TTM)$32.9亿+12.0% 对比去年同期税后,含营业外收益
自由现金流(TTM)$39.6亿+7.3% 对比去年同期资本支出 $17.5亿
稀释EPS(TTM)$7.09+13.3% 对比去年同期最近4个季度之和
净现金-$434亿-0.8% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $871亿 EV $1310亿
- 营收
- $110亿 过去12个月
- 营收增速
- +4% FY2026年一致预期
- 净利润率
- 29.9% 净利润 / 营收,TTM
- P/E
- 26.4× 预期 27.0×(FY2026)
- P/S
- 7.9× 股价 / 营收,TTM
- EV / EBITDA
- 17.8× TTM
- 自由现金流
- $39.6亿 过去12个月
- 净利润
- $32.9亿 过去12个月
- 营收预期
- $110亿 FY2026年一致预期
- 盈利
- 2027-02-23 营收预期 $27.8亿
- 股息
- $7.07 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-27):营收超预期0.9%,EPS 符合预期营收$27.9亿,预期$27.6亿(+0.9%);EPS $1.64,预期$1.64(0.0%)。
- 营收增长放缓:同比2.5%Q3 '26营收$27.9亿,此前四个季度的平均值为6.7%。
- 营业利润率44.1%(TTM),较去年同期-1.8 百分点营收增长5.3%,营业利润增长1.2%。
- 税前利润的26.6%被营业外亏损吞噬税前利润$38.4亿,营业利润$48.6亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的15.9%(去年为14.8%)最近4个季度投入$17.5亿(同比+13.1%)。自由现金流$39.6亿,相当于净利润的120.3%。
- 股东回报$41.4亿 = 自由现金流的104.5%回购$8.68亿(去年为$0),股息$32.7亿,股权激励$1.56亿(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少0.7%Q3 '26稀释股数4.66亿,一年前为4.69亿。
- 净债务 $434亿现金 + 短期投资 $18.7亿,含租赁债务 $453亿;一年前净债务 $431亿。
- Property Data Centers:营收+17.4%,利润率52.7%(此前为52.5%)Q3 '26增长最快的披露分部:营收$3.13亿,营业利润$1.65亿(来自财报的分部附注)。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $27.9亿 | $27.2亿 | +2.5% |
| 毛利率 | 72.8% | 75.1% | -2.3 百分点 |
| 营业利润 | $12.7亿 | $12.7亿 | +0.1% |
| 营业利润率 | 45.6% | 46.7% | -1.1 百分点 |
| 净利润 | $7.66亿 | $8.53亿 | -10.3% |
| 稀释EPS | $1.64 | $1.82 | -9.9% |
| 经营现金流 | $13.9亿 | $14.6亿 | -4.6% |
| 资本支出 | $3.97亿 | $4.66亿 | -14.6% |
| 自由现金流 | $9.95亿 | $9.95亿 | +0.1% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $3150万 | $4190万 | -24.8% |
实际 vs 一致预期
2026-10-27| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $27.9亿 | $27.6亿 | +0.9% |
| EPS(一致预期口径) | $1.64 | $1.64 | 0.0% |
来自2026-10-27发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Property | $27.3亿 | +4.5% | 98.2% | $108亿 | +14.0% | |
| Services Revenue | $5140万 | -49.2% | 1.8% | $2.45亿 | -27.8% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $13.3亿 | -6.6% | 46.8% | $53.8亿 | -3.4% | |
| Property, Africa | $4.28亿 | +15.4% | 15.1% | $16亿 | +356.2% | |
| Property, Latin America | $4.6亿 | +10.4% | 16.2% | $18.2亿 | +11.9% | |
| Property, Data Centers | $3.13亿 | +17.4% | 11.0% | $11.8亿 | +17.0% | |
| Property, Europe | $2.58亿 | +5.9% | 9.1% | $10.3亿 | +13.6% | |
| Services Segment | $5140万 | -49.2% | 1.8% | $3.19亿 | – |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Property US And Canada | $13.3亿 | -6.6% | $10.1亿 | -4.8% | 76.1% | 74.7% | $40.9亿 |
| Property Latin America | $4.6亿 | +10.4% | $3.02亿 | +18.2% | 65.7% | 61.3% | $11.9亿 |
| Property Africa APAC | $4.28亿 | +15.4% | $2.56亿 | +7.4% | 59.8% | 64.2% | $9.77亿 |
| Property Data Centers | $3.13亿 | +17.4% | $1.65亿 | +17.9% | 52.7% | 52.5% | $6.34亿 |
| Property Africa | – | – | – | – | – | – | – |
| Property Europe | $2.58亿 | +5.9% | $1.47亿 | +6.5% | 56.8% | 56.4% | $5.79亿 |
| Property Asia Pacific | – | – | – | – | – | – | – |
| Property | – | – | $18.8亿 | +2.6% | – | – | $74.7亿 |
| Services Segment | – | – | $1320万 | -67.9% | – | – | $7810万 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $57.1亿
- 资本支出
- -$17.5亿
- 股票回购
- -$8.68亿
- 股息
- -$32.7亿
- 收购
- -$2.97亿
- 债务净发行
- -$2.46亿
- 股权激励费用
- $1.56亿
- 自由现金流
- $39.6亿
- 股东回报 / FCF
- 104.5%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 26.4× | 49.0× | 32.5× – 67.9× |
| EV / EBITDA | 17.8× | 22.9× | 17.8× – 30.2× |
| EV / 营收 | 11.9× | 14.6× | 11.8× – 19.5× |
| 股价 / FCF | 22.0× | 34.3× | 21.8× – 53.6× |
| 股价 / 净资产 | 24.8× | 23.1× | 17.5× – 26.0× |
| FCF收益率 | 4.5% | 3.3% | 1.9% – 4.6% |
| 投入资本回报率 | 7.0% | 5.4% | 4.0% – 7.0% |
| 净资产收益率 | 91.3% | 50.7% | 31.7% – 69.3% |
分析师
一致目标价 $203.67 (+8.5%)
区间 $188.00 – $212.00 · 评级 Buy
强烈买入1
买入40
持有9
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $110亿 | +3.7% | $6.96 | +29.2% | 27.0× | 8 |
| FY2027 | $114亿 | +3.1% | $6.94 | -0.3% | 27.0× | 9 |
| FY2028 | $121亿 | +6.3% | $7.75 | +11.7% | 24.2× | 12 |
| FY2029 | $128亿 | +5.7% | $8.46 | +9.1% | 22.2× | 9 |
| FY2030 | $133亿 | +4.1% | $9.60 | +13.4% | 19.6× | 5 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
American Tower Corporation在近期10-Q / 10-K文件中标记的全部309项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $2.1亿 | $2.39亿 | -12.2% | $2.6亿 | $2.41亿 | +7.9% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $6.22亿 | $7.37亿 | -15.6% | $6.5亿 | $5.4亿 | +20.4% |
| Accounts Receivable, Allowance for Credit Loss, Current | $4.3亿2025-12-31 | $4.04亿 | +6.5% | $4.3亿 | $4.04亿 | +6.5% |
| Accrued Income Taxes, Current | $4590万 | $2330万 | +97.0% | $2650万 | $2060万 | +28.6% |
| Accrued Liabilities, Current | $12.1亿 | $12.3亿 | -1.3% | $11.1亿 | $10.8亿 | +2.8% |
| Accrued Rent, Current | $4960万 | $5110万 | -2.9% | $5200万 | $5470万 | -4.9% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$47.6亿 | -$48.2亿 | +1.3% | -$48.2亿 | -$59.5亿 | +19.1% |
| Additional Paid in Capital | $156亿 | $152亿 | +2.5% | $152亿 | $151亿 | +1.0% |
| Amortization of Debt Issuance Costs and Discounts | – | – | – | $5410万 | $5410万 | 0.0% |
| Amortization of Intangible Assets | $2.15亿 | $2.26亿 | -4.9% | $8.8亿 | $8.92亿 | -1.4% |
| Asset Impairment Charges | – | – | – | $1.01亿 | $6860万 | +46.8% |
| Asset Retirement Obligation | $25.2亿 | $25.4亿 | -0.7% | $25.1亿 | $23.9亿 | +5.0% |
| Asset Retirement Obligation, Accretion Expense | – | – | – | $3780万 | $3550万 | +6.5% |
| Asset Retirement Obligation, Foreign Currency Translation Gain (Loss) | – | – | – | -$1.31亿 | $1.25亿 | -205.0% |
| Asset Retirement Obligation, Liabilities Incurred | – | – | – | $1210万 | $1550万 | -21.9% |
| Asset Retirement Obligation, Liabilities Settled | – | – | – | $2430万 | $4130万 | -41.2% |
| Asset Retirement Obligation, Revision of Estimate | – | – | – | $9350万 | $3.04亿 | -69.3% |
| Assets | $630亿 | $639亿 | -1.4% | $632亿 | $611亿 | +3.5% |
| Assets, Current | $31.5亿 | $35.4亿 | -10.9% | $27.4亿 | $31.8亿 | -13.7% |
| Broker-Dealer, Payable to Customer | $8130万 | $7060万 | +15.2% | $7090万 | $7470万 | -5.1% |
| Business Combination, Acquisition Related Costs | -$20万2025-12-31 | -$70万 | +71.4% | $20万 | $330万 | -93.9% |
| Business Combination, Integration Related Costs | $130万2025-12-31 | $260万 | -50.0% | $520万 | $890万 | -41.6% |
| Cash and Cash Equivalents, at Carrying Value | $18.7亿 | $19.5亿 | -4.0% | $14.7亿 | $20亿 | -26.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $20.1亿 | $21亿 | -4.5% | $16.1亿 | $21.1亿 | -23.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $1.15亿 | -$1.09亿 | +205.4% | -$5.03亿 | $1480万 | -3,498.6% |
| Common Stock, Dividends, Per Share, Cash Paid | $1.79 | $1.70 | +5.3% | $6.80 | $6.48 | +4.9% |
| Common Stock, Dividends, Per Share, Declared | $1.702025-12-31 | $1.62 | +4.9% | $6.72 | $6.56 | +2.4% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 10亿 | 10亿 | 0.0% | 10亿 | 10亿 | 0.0% |
| Common Stock, Shares, Issued | 4.8亿 | 4.79亿 | +0.2% | 4.79亿 | 4.78亿 | +0.2% |
| Common Stock, Shares, Outstanding | 4.64亿 | 4.68亿 | -0.9% | 4.66亿 | 4.67亿 | -0.2% |
| Common Stock, Value, Issued | $480万 | $480万 | 0.0% | $480万 | $480万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | -$1670万 | $3920万 | -142.6% | $5.59亿 | -$2.09亿 | +367.6% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $6.71亿 | $9.95亿 | -32.6% | $36.7亿 | $20.4亿 | +79.8% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $6.54亿 | $10.3亿 | -36.8% | $42.3亿 | $18.3亿 | +130.9% |
| Construction Payable, Current | $2.06亿 | $2.06亿 | +0.3% | $1.96亿 | $1.67亿 | +17.3% |
| Contract with Customer, Liability, Current | $4.03亿 | $4.38亿 | -8.0% | $3.25亿 | $3.29亿 | -1.3% |
| Contract with Customer, Liability, Revenue Recognized | – | – | – | $1.33亿 | $1.17亿 | +14.0% |
| Costs and Expenses | $15.2亿 | $14.8亿 | +2.2% | $58亿 | $56.1亿 | +3.4% |
| Current Federal Tax Expense (Benefit) | – | – | – | $3760万 | $110万 | +3,318.2% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $3.29亿 | $3.05亿 | +7.7% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $710万 | $800万 | -11.3% |
| Debt Instrument, Redemption Price, Percentage | 0.0%2025-12-31 | 0.0% | – | 101.0% | 101.0% | 0.0% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $2.15亿2025-12-31 | $2.55亿 | -15.7% | $2.15亿 | $2.55亿 | -15.7% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $2430万 | $760万 | +219.7% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $1650万 | $4350万 | -62.1% |
| Deferred Income Tax Assets, Net | $1.67亿 | $1.66亿 | +0.6% | $1.51亿 | $1.23亿 | +23.4% |
| Deferred Income Tax Liabilities, Net | $15.2亿 | $15.1亿 | +0.4% | $14.4亿 | $12.6亿 | +14.1% |
| Deferred Income Taxes and Tax Credits | – | – | – | $4250万 | $5230万 | -18.7% |
| Deferred Rent Receivables, Net, Noncurrent | $37.4亿 | $38.1亿 | -1.8% | $38.5亿 | $37.1亿 | +3.8% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $170万 | $120万 | +41.7% |
| Deferred Tax Assets, Capital Loss Carryforwards | $3.12亿2025-12-31 | $2.93亿 | +6.3% | $3.12亿 | $2.93亿 | +6.3% |
| Deferred Tax Assets, Deferred Income | $2450万2025-12-31 | $1980万 | +23.7% | $2450万 | $1980万 | +23.7% |
| Deferred Tax Assets, Other | $960万2025-12-31 | $5860万 | -83.6% | $960万 | $5860万 | -83.6% |
| Deferred Tax Assets, Tax Credit Carryforwards | $3.79亿2025-12-31 | $3.11亿 | +21.8% | $3.79亿 | $3.11亿 | +21.8% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $1020万2025-12-31 | $990万 | +3.0% | $1020万 | $990万 | +3.0% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Asset Retirement Obligations | $2.65亿2025-12-31 | $2.46亿 | +7.8% | $2.65亿 | $2.46亿 | +7.8% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Returns and Allowances | $1.57亿2025-12-31 | $4610万 | +240.8% | $1.57亿 | $4610万 | +240.8% |
| Deferred Tax Assets, Unrealized Currency Losses | $2300万2025-12-31 | $2560万 | -10.2% | $2300万 | $2560万 | -10.2% |
| Deferred Tax Assets, Valuation Allowance | $7.6亿2025-12-31 | $6.82亿 | +11.5% | $7.6亿 | $6.82亿 | +11.5% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01