AMT American Tower

XNYS Up Alert

Real Estate

· How we analyze

About the company

American Tower owns and leases cell towers on which mobile carriers mount their antennas. The company operates tens of thousands of sites in North and Latin America, Europe, Africa and Asia, plus data centers through CoreSite. It is organized as a real estate investment trust (REIT). As of Oct 11, 2026

Fact sheet (from the annual report) Real estate investment trusts (REITs) · Boston, USA

The company operates as a real estate company with REIT tax status and owns, operates and develops multitenant communications sites. Its main business is leasing space on wireless sites to mobile carriers, radio and TV broadcasters, government agencies and municipalities. The portfolio consists mainly of owned or long-term leased towers as well as indoor and outdoor distributed antenna systems. The communications sites are located in the United States and Canada, Africa and the Asia-Pacific region, Europe and Latin America; in addition there are data centers in the United States. Revenue comes mainly from leases that, with mobile carriers, generally provide for long non-cancellable initial terms and contractual rent escalations.

Automatically summarized from SEC annual report (10-K, filed Feb 24, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 15, 2026

Price performance at a glance

Last 30 trading days
  • Today −0.4%
  • 7 days +2.9%
  • 30 days +11.4%
  • 1 year −1.7%
Day range (last trading day)
−0.5%Price at 26% of the range+1.5%
52-week range
−15.0%Price at 67% of the range+7.6%
Distance from the all-time high
−38.0%

Our own calculation from the exchange’s daily candles, as of Oct 26, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.

Gap with volume · Analysis method

This method currently detects no pattern for AMT. The check runs daily after the close.

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What does the pattern show?

What is this? After strong news, usually earnings, the price opened above the previous day’s high and closed much higher on heavy volume. Such moves often continue for a few more days.

This is a calculated analysis, not a forecast and not a call to buy. Risk notice and investment advice

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Symbol on TradingView: NYSE:AMT

Fundamental analysis

American Tower · Sector Real Estate · amounts in USD

Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 24, 2026.

Quality checks

Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.

Fiscal year to Dec 31, 2025

Quality Profitability, consistency, balance sheet · 1 without data 6 of 7 criteria met Growth Revenue and earnings per share 6 of 7 criteria met Dividend Level, consistency, coverage · 3 without data 3 of 4 criteria met Financial strength Piotroski, debt, liquidity · 1 without data 2 of 5 criteria met

Quality 6 of 7 met · 1 without data

  • no data: Gross margin above 40% not stated in the SEC filings
  • met: Operating margin above 15% 45.5%
  • met: Net margin above 10% 23.8%
  • met: Return on equity above 15% 69.3%
  • met: Free cash flow margin above 10% 35.5%
  • met: Profit in each of the last 5 fiscal years 5 of 5
  • met: Free cash flow positive in each of the last 3 fiscal years 3 of 3
  • not met: Equity ratio above 30% 5.8%
Operating margin

45.5% Fiscal year 2025

Rank 93 of 100: higher than 93% of 192 peers (All). strong.

Sector: too few peers

Operating income divided by revenue: what the core business earns before interest and taxes.

Net margin

23.8% Fiscal year 2025

Rank 72 of 100: higher than 72% of 237 peers (All). strong.

Rank 70 of 100: higher than 70% of 5 peers (Sector). strong.

Median Real Estate: 14.6%

Profit after all costs, interest and taxes divided by revenue.

Return on equity

69.3% Fiscal year 2025

Rank 92 of 100: higher than 92% of 218 peers (All). strong.

Rank 90 of 100: higher than 90% of 5 peers (Sector). strong.

Median Real Estate: 6.3%

Net income divided by equity at fiscal year end.

Return on assets

4.0% Fiscal year 2025 (total assets at year end)

Rank 37 of 100: higher than 37% of 238 peers (All). medium.

Rank 90 of 100: higher than 90% of 5 peers (Sector). strong.

Median Real Estate: 3.4%

Net income divided by total assets at fiscal year end.

Equity ratio

5.8% Fiscal year 2025

Rank 9 of 100: higher than 9% of 239 peers (All). weak.

Rank 10 of 100: higher than 10% of 5 peers (Sector). weak.

Median Real Estate: 41.8%

Equity as a share of total assets. Usually low for banks.

Free cash flow margin

35.5% Fiscal year 2025

Rank 90 of 100: higher than 90% of 213 peers (All). strong.

Sector: too few peers

Free cash flow divided by revenue.

Free cash flow

3.8B USD Fiscal year 2025

Operating cash flow minus capital expenditure on property and equipment.

Growth 6 of 7 met

  • not met: Over 3 years, revenue grew by more than 5% per year −0.2%
  • met: Over 5 years, revenue grew by more than 5% per year +5.8%
  • met: Over 10 years, revenue grew by more than 5% per year +8.4%
  • met: Over 3 years, EPS grew by more than 5% per year +12.2%
  • met: Over 5 years, EPS grew by more than 5% per year +7.3%
  • met: Revenue rose in at least 4 of the last 5 fiscal years 4 of 5
  • met: Revenue rose in the last fiscal year +5.1%
Revenue growth 3 years

−0.2% per year

Rank 17 of 100: higher than 17% of 230 peers (All). weak.

Rank 30 of 100: higher than 30% of 5 peers (Sector). weak.

Median Real Estate: +8.3%

Average growth per year over 3 fiscal years.

Revenue growth 5 years

+5.8% per year

Rank 23 of 100: higher than 23% of 217 peers (All). weak.

Rank 10 of 100: higher than 10% of 5 peers (Sector). weak.

Median Real Estate: +11.1%

Average growth per year over 5 fiscal years.

Revenue growth 10 years

+8.4% per year

Rank 58 of 100: higher than 58% of 157 peers (All). medium.

Sector: too few peers

Average growth per year over 10 fiscal years.

EPS growth 3 years

+12.2% per year

Rank 51 of 100: higher than 51% of 157 peers (All). medium.

Sector: too few peers

Growth of earnings per share per year, adjusted for stock splits.

EPS growth 5 years

+7.3% per year

Rank 30 of 100: higher than 30% of 146 peers (All). weak.

Sector: too few peers

Growth of earnings per share per year, adjusted for stock splits.

EPS growth 10 years

+14.4% per year

Rank 68 of 100: higher than 68% of 140 peers (All). strong.

Sector: too few peers

Growth of earnings per share per year, adjusted for stock splits.

Dividend 3 of 4 met · 3 without data

  • met: Pays a dividend 6.72 USD
  • not met: Payout ratio at most 60% of earnings 124%
  • no data: Dividend paid in each of the last 5 fiscal years not reported as an annual figure for each of the last 5 fiscal years
  • no data: Dividend per share never lowered in the last 5 fiscal years not reported as an annual figure for each of the last 5 fiscal years
  • no data: Dividend per share higher than 5 years ago no comparable dividend 5 years ago
  • met: Free cash flow per share covers the dividend 1.2x
  • met: Dividends paid over the last 5 years covered by free cash flow 90% of free cash flow
Payout ratio

124% Fiscal year 2025

Dividend per share divided by earnings per share.

Free cash flow coverage

1.2x Fiscal year 2025

Free cash flow per share divided by dividend per share. From 1x the dividend is covered.

Financial strength 2 of 5 met · 1 without data

  • no data: Piotroski F-Score at least 7 of 9 too many criteria without data 6 of 8 · 1 without data
  • not met: Long-term debt no higher than equity 9.26
  • not met: Current assets cover current liabilities 0.40
  • met: Positive equity 3.7B USD
  • not met: In 5 years, share count up by at most 5% +5.1%
  • met: Free cash flow positive in the last fiscal year 3.8B USD
Piotroski F-Score

6 of 8 Fiscal year 2025

No rank: not all 9 criteria have data.

Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.

Debt / equity

9.26 at fiscal year end

Rank 1 of 100: lower than 1% of 199 peers (All). weak.

Rank 10 of 100: lower than 10% of 5 peers (Sector). weak.

Median Real Estate: 0.66

Long-term financial debt divided by equity.

Liquidity (current ratio)

0.40 at fiscal year end

Rank 1 of 100: higher than 1% of 215 peers (All). weak.

Sector: too few peers

Current assets divided by current liabilities.

Change in share count

+5.1% in 5 years

Rank 31 of 100: lower than 31% of 199 peers (All). weak.

Rank 90 of 100: lower than 90% of 5 peers (Sector). strong.

Median Real Estate: +26.8%

Change in diluted share count. Negative = share buybacks, positive = new shares.

The 9 criteria of the Piotroski F-Score
  • met: Profit in the last fiscal year (positive return on assets)
  • met: Positive operating cash flow
  • met: Return on assets higher than the prior year
  • met: Operating cash flow higher than net income
  • met: Long-term debt relative to total assets fell
  • not met: Liquidity (current assets / current liabilities) rose
  • not met: No additional shares (diluted share count did not rise)
  • no data: Gross margin higher than the prior year
  • met: Revenue relative to total assets higher than the prior year

Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.

Price-based criteria (P/E, dividend yield) are shown to signed-in users.

Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.

In short

  • Light yellow: Revenue grew over 5 years (+5.8% per year), more slowly than the sector median.
  • Light yellow: Net income (total) grew over 5 years (+9.2% per year), more slowly than the sector median; per share +7.3% per year.
  • Light green: Net margin 24.7%, above the sector median (20.8%).
  • Light red: Debt much higher than usual in the sector.
  • Light green: Profit in each of the last 10 fiscal years.

Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.

RevenueNet income Net margin (below) in USD
  1. Fiscal year 2016 (Jan 1, 2016 – Dec 31, 2016): Revenue 5.8B USD · Net income 956.4M USD · Net margin 16.5%
  2. Fiscal year 2017 (Jan 1, 2017 – Dec 31, 2017): Revenue 6.7B USD · Net income 1.2B USD · Net margin 18.6%
  3. Fiscal year 2018 (Jan 1, 2018 – Dec 31, 2018): Revenue 7.4B USD · Net income 1.2B USD · Net margin 16.6%
  4. Fiscal year 2019 (Jan 1, 2019 – Dec 31, 2019): Revenue 7.6B USD · Net income 1.9B USD · Net margin 24.9%
  5. Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Revenue 8.0B USD · Net income 1.7B USD · Net margin 21.0%
  6. Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Revenue 9.4B USD · Net income 2.6B USD · Net margin 27.4%
  7. Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Revenue 10.7B USD · Net income 1.7B USD · Net margin 15.8%
  8. Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Revenue 11.1B USD · Net income 1.4B USD · Net margin 12.3%
  9. Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 10.1B USD · Net income 2.3B USD · Net margin 22.5%
  10. Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 10.6B USD · Net income 2.6B USD · Net margin 24.7%

Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 10.6B USD · Net income 2.6B USD · Net margin 24.7%

Figures over time

Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.

Money flow in fiscal year 2025

Of 100 USD of revenue, 45.5 USD operating income and 23.8 USD net income remained.

Money flow as a table
Fiscal year 2025, amounts in USD, share of revenue
ItemAmountof revenue
Revenue10.6B USD100.0%
Operating income4.8B USD45.5%
Cost of revenue and operating expenses5.8B USD54.5%
Net income2.5B USD23.8%
Interest expense1.4B USD12.8%
Taxes415.7M USD3.9%
Other541.2M USD5.1%

Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.

Margins

The operating margin rose in 5 years from 35.9% to 45.5%.

Operating marginNet margin
  1. Fiscal year 2016: Operating margin 32.0% · Net margin 16.5%
  2. Fiscal year 2017: Operating margin 30.0% · Net margin 18.6%
  3. Fiscal year 2018: Operating margin 25.6% · Net margin 16.6%
  4. Fiscal year 2019: Operating margin 35.5% · Net margin 24.9%
  5. Fiscal year 2020: Operating margin 35.9% · Net margin 21.0%
  6. Fiscal year 2021: Operating margin 33.5% · Net margin 27.4%
  7. Fiscal year 2022: Operating margin 22.0% · Net margin 16.5%
  8. Fiscal year 2023: Operating margin 27.1% · Net margin 13.3%
  9. Fiscal year 2024: Operating margin 44.6% · Net margin 22.3%
  10. Fiscal year 2025: Operating margin 45.5% · Net margin 23.8%

Returns

Return on equity rose in 5 years from 41.3% to 69.3%.

Return on equityReturn on assets
  1. Fiscal year 2016: Return on equity 14.1% · Return on assets 3.1%
  2. Fiscal year 2017: Return on equity 19.8% · Return on assets 3.7%
  3. Fiscal year 2018: Return on equity 23.2% · Return on assets 3.7%
  4. Fiscal year 2019: Return on equity 37.3% · Return on assets 4.4%
  5. Fiscal year 2020: Return on equity 41.3% · Return on assets 3.6%
  6. Fiscal year 2021: Return on equity 50.5% · Return on assets 3.7%
  7. Fiscal year 2022: Return on equity 31.7% · Return on assets 2.6%
  8. Fiscal year 2023: Return on equity 35.3% · Return on assets 2.2%
  9. Fiscal year 2024: Return on equity 66.7% · Return on assets 3.7%
  10. Fiscal year 2025: Return on equity 69.3% · Return on assets 4.0%

Equity and long-term debt

The equity ratio fell in 5 years from 8.7% to 5.8%.

EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.
  1. Fiscal year 2016: Equity 6.8B USD · Long-term debt 18.3B USD
  2. Fiscal year 2017: Equity 6.2B USD · Long-term debt 19.4B USD
  3. Fiscal year 2018: Equity 5.3B USD · Long-term debt 18.4B USD
  4. Fiscal year 2019: Equity 5.1B USD · Long-term debt 21.1B USD
  5. Fiscal year 2020: Equity 4.1B USD · Long-term debt 28.5B USD
  6. Fiscal year 2021: Equity 5.1B USD · Long-term debt 38.7B USD
  7. Fiscal year 2022: Equity 5.6B USD · Long-term debt 34.2B USD
  8. Fiscal year 2023: Equity 4.2B USD · Long-term debt 35.7B USD
  9. Fiscal year 2024: Equity 3.4B USD · Long-term debt 32.8B USD
  10. Fiscal year 2025: Equity 3.7B USD · Long-term debt 33.8B USD

Liquidity (current ratio)

The current ratio fell in 5 years from 0.79 to 0.40.

Current ratio
  1. Fiscal year 2016: Current ratio 1.04
  2. Fiscal year 2017: Current ratio 0.81
  3. Fiscal year 2018: Current ratio 0.51
  4. Fiscal year 2019: Current ratio 0.47
  5. Fiscal year 2020: Current ratio 0.79
  6. Fiscal year 2021: Current ratio 0.41
  7. Fiscal year 2022: Current ratio 0.44
  8. Fiscal year 2023: Current ratio 0.51
  9. Fiscal year 2024: Current ratio 0.45
  10. Fiscal year 2025: Current ratio 0.40

Cash flow

Free cash flow rose in 5 years from 2.8B USD to 3.8B USD.

Operating cash flowCapital expenditureFree cash flow in USD
  1. Fiscal year 2016: Operating cash flow 2.7B USD · Capital expenditure 682.5M USD · Free cash flow 2.0B USD
  2. Fiscal year 2017: Operating cash flow 2.9B USD · Capital expenditure 803.6M USD · Free cash flow 2.1B USD
  3. Fiscal year 2018: Operating cash flow 3.7B USD · Capital expenditure 913.2M USD · Free cash flow 2.8B USD
  4. Fiscal year 2019: Operating cash flow 3.8B USD · Capital expenditure 991.3M USD · Free cash flow 2.8B USD
  5. Fiscal year 2020: Operating cash flow 3.9B USD · Capital expenditure 1.0B USD · Free cash flow 2.8B USD
  6. Fiscal year 2021: Operating cash flow 4.8B USD · Capital expenditure 1.4B USD · Free cash flow 3.4B USD
  7. Fiscal year 2022: Operating cash flow 3.7B USD · Capital expenditure 1.9B USD · Free cash flow 1.8B USD
  8. Fiscal year 2023: Operating cash flow 4.7B USD · Capital expenditure 1.8B USD · Free cash flow 2.9B USD
  9. Fiscal year 2024: Operating cash flow 5.3B USD · Capital expenditure 1.6B USD · Free cash flow 3.7B USD
  10. Fiscal year 2025: Operating cash flow 5.5B USD · Capital expenditure 1.7B USD · Free cash flow 3.8B USD

Share count

The share count rose in 5 years by 5.1% – more new shares were issued than repurchased (dilution).

Diluted share count
  1. Fiscal year 2016: Diluted share count 429.3M
  2. Fiscal year 2017: Diluted share count 431.7M
  3. Fiscal year 2018: Diluted share count 443.0M
  4. Fiscal year 2019: Diluted share count 445.5M
  5. Fiscal year 2020: Diluted share count 446.1M
  6. Fiscal year 2021: Diluted share count 453.3M
  7. Fiscal year 2022: Diluted share count 462.8M
  8. Fiscal year 2023: Diluted share count 467.2M
  9. Fiscal year 2024: Diluted share count 468.1M
  10. Fiscal year 2025: Diluted share count 468.8M

From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.

Dividends and share repurchases

How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.

Dividend per share
6.72 USD · Fiscal year 2025
Dividend growth per year
3 y +16.0%5 y –10 y –
Years without a cut
at least 3 as far as the data goes
Payout ratio
of earnings 124% of free cash flow 84%
To shareholders (5 years)
14.4B USD 3% through repurchases
Share count over 5 years
+5.1% more shares – dilution

Dividend per share

The dividend per share rose in 3 years from 4.30 USD to 6.72 USD.

Dividend per share USD per share Per share as filed with the SEC, including special dividends; obvious filing errors are hidden.
  1. Fiscal year 2016: Dividend per share not available
  2. Fiscal year 2017: Dividend per share not available
  3. Fiscal year 2018: Dividend per share not available
  4. Fiscal year 2019: Dividend per share not available
  5. Fiscal year 2020: Dividend per share not available
  6. Fiscal year 2021: Dividend per share not available
  7. Fiscal year 2022: Dividend per share 4.30 USD
  8. Fiscal year 2023: Dividend per share 6.31 USD
  9. Fiscal year 2024: Dividend per share 6.56 USD
  10. Fiscal year 2025: Dividend per share 6.72 USD

Payout ratios

The payout ratio rose in 3 years from 112.6% to 124.4%.

Payout ratio (earnings)Payout ratio (free cash flow)
  1. Fiscal year 2016: Payout ratio (earnings) not available · Payout ratio (free cash flow) 43.9%
  2. Fiscal year 2017: Payout ratio (earnings) not available · Payout ratio (free cash flow) 50.6%
  3. Fiscal year 2018: Payout ratio (earnings) not available · Payout ratio (free cash flow) 46.7%
  4. Fiscal year 2019: Payout ratio (earnings) not available · Payout ratio (free cash flow) 58.1%
  5. Fiscal year 2020: Payout ratio (earnings) not available · Payout ratio (free cash flow) 67.7%
  6. Fiscal year 2021: Payout ratio (earnings) not available · Payout ratio (free cash flow) 66.0%
  7. Fiscal year 2022: Payout ratio (earnings) 112.6% · Payout ratio (free cash flow) 144.3%
  8. Fiscal year 2023: Payout ratio (earnings) 198.4% · Payout ratio (free cash flow) 100.9%
  9. Fiscal year 2024: Payout ratio (earnings) 136.1% · Payout ratio (free cash flow) 81.8%
  10. Fiscal year 2025: Payout ratio (earnings) 124.4% · Payout ratio (free cash flow) 84.1%

What goes back to shareholders

Over 5 years, 14.4B USD went back to shareholders, 3% of it through share repurchases. That is 92% of the free cash flow of those years. This was offset by new shares issued for 4.7B USD (including employee plans).

Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USD
  1. Fiscal year 2016: Dividends paid 886.1M USD · Share repurchases 0.0 USD · New shares issued (including employee plans) 0.0 USD · Free cash flow 2.0B USD
  2. Fiscal year 2017: Dividends paid 1.1B USD · Share repurchases 766.3M USD · New shares issued (including employee plans) 0.0 USD · Free cash flow 2.1B USD
  3. Fiscal year 2018: Dividends paid 1.3B USD · Share repurchases 232.8M USD · New shares issued (including employee plans) not available · Free cash flow 2.8B USD
  4. Fiscal year 2019: Dividends paid 1.6B USD · Share repurchases 19.6M USD · New shares issued (including employee plans) 0.0 USD · Free cash flow 2.8B USD
  5. Fiscal year 2020: Dividends paid 1.9B USD · Share repurchases 56.0M USD · New shares issued (including employee plans) 0.0 USD · Free cash flow 2.8B USD
  6. Fiscal year 2021: Dividends paid 2.3B USD · Share repurchases 0.0 USD · New shares issued (including employee plans) 2.4B USD · Free cash flow 3.4B USD
  7. Fiscal year 2022: Dividends paid 2.6B USD · Share repurchases 18.8M USD · New shares issued (including employee plans) 2.3B USD · Free cash flow 1.8B USD
  8. Fiscal year 2023: Dividends paid 2.9B USD · Share repurchases 0.0 USD · New shares issued (including employee plans) 0.0 USD · Free cash flow 2.9B USD
  9. Fiscal year 2024: Dividends paid 3.0B USD · Share repurchases 0.0 USD · New shares issued (including employee plans) 0.0 USD · Free cash flow 3.7B USD
  10. Fiscal year 2025: Dividends paid 3.2B USD · Share repurchases 364.6M USD · New shares issued (including employee plans) not available · Free cash flow 3.8B USD

Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.

Valuation over time

Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users.

Sector comparison

American Tower next to 4 stocks of the sector Real Estate we cover that are closest in revenue. Click a column header to sort the table.

Sector comparison AMT, sector Real Estate; last row: sector median
Symbol Revenue (FY) Growth 5 yrsGross marginOp. marginNet marginROEEquity ratioFCF marginPiotroski
WELL Welltower 10.8B USD +18.7%40.1%–8.6%2.2%62.6%16.9%–
AMT American Tower this stock 10.6B USD +5.8%–45.5%23.8%69.3%5.8%35.5%–
EQIX Equinix 9.2B USD +9.0%51.1%20.0%14.6%9.5%35.3%−4.3%5/9
PLD Prologis 8.8B USD +14.6%–49.6%37.9%6.3%53.9%––
OPEN Opendoor Technologies 4.4B USD +11.1%8.0%−6.6%−29.7%−129.4%41.8%23.7%4/9
Median of the sector 5 symbols 9.2B USD +11.1%––14.6%6.3%41.8%––

Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).

Banks and insurers: gross margin (only if reported), free cash flow margin and Piotroski are not meaningful there (“–”).

Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.

Key figures with traffic lights

Each light follows a simple, disclosed rule. The comparison is with the sector median of all 31 symbols in the Real Estate sector on our list (current members of the S&P 500 and other lists).

Revenue growth

Light yellow: below sector

+5.8% per year, last 5 years

Sector Real Estate: median +9.0% (31 symbols)

What does this mean? Revenue: over 5 years it grew by 5.8% per year on average, but more slowly than the median company in the sector (+9.0%).

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net income (total)

Light yellow: below sector

+9.2% per year, last 5 years

Sector Real Estate: median +10.6% (28 symbols)

per share: +7.3% per year (5 years, split-adjusted)

What does this mean? Total net income: over 5 years it grew by 9.2% per year on average, but more slowly than the median company in the sector (+10.6%).

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net margin

Light green: above sector

24.7% last fiscal year

Sector Real Estate: median 20.8% (30 symbols)

What does this mean? Of every 100 USD in revenue, 24.69 USD remained as profit – at least as much as the median company in the sector (20.8%). Five years ago the margin was 21.0%.

Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.

Debt / equity

Light red: much higher

10.69 latest balance sheet

Sector Real Estate: median 0.82 (23 symbols)

What does this mean? For every 1 USD of equity there is 10.69 USD of financial debt – more than twice as much as the median company in the sector (0.82). More debt amplifies good and bad years alike.

Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.

Payout ratio

Light gray: little meaning

124% Dividend / earnings per share

Sector Real Estate: median 129% (24 symbols)

What does this mean? The payout was higher than the earnings per share; it is paid from cash flow, from reserves or with new debt. REITs are legally required to pay out most of their income; the ratio to earnings says little there. Median company in the sector: 129%.

Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.

Profitable years

Light green: profit every year

10 of 10 fiscal years with a profit

What does this mean? In 10 of the last 10 fiscal years the bottom line showed a profit. There were no losses in this period.

Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).

Last fiscal year and 13F

Information, not a trading signal · Source: SEC EDGAR
Revenue (FY)
10.6B USD
Revenue vs. prior year
+5.1%
Net income (FY)
2.6B USD
Net income vs. prior year
+15.3%
EPS (FY)
5.40 USD
13F funds with a position
2 of 9
Funds vs. prior quarter
±0
Shares held vs. prior quarter
−19.8%
Fiscal year to Dec 31, 2025 · 10-K filed Feb 24, 2026 · Balance sheet Sep 30, 2026 (filed Oct 27, 2026) · Price-based figures (P/E, P/S, dividend yield, market cap) only when logged in. · Values as first reported; debt = reported financial debt (US GAAP: long-term). 13F: reporting date Jun 30, 2026, 9 tracked funds have filed (latest Aug 14, 2026), filed with up to 45 days of delay. Stock positions only; comparison with Mar 31, 2026 only across funds that filed for both quarters.
All figures as a table
Fiscal years (amounts in USD, per share in USD)
YearEndRevenueNet income MarginEarnings per shareDividend per sharePayout
2025Dec 31, 2025 10.6B2.6B 24.7% 5.40 6.72 124%
2024Dec 31, 2024 10.1B2.3B 22.5% 4.82 6.56 136%
2023Dec 31, 2023 11.1B1.4B 12.3% 3.18 6.31 198%
2022Dec 31, 2022 10.7B1.7B 15.8% 3.82 4.30 113%
2021Dec 31, 2021 9.4B2.6B 27.4% 5.66 – –
2020Dec 31, 2020 8.0B1.7B 21.0% 3.79 – –
2019Dec 31, 2019 7.6B1.9B 24.9% 4.24 – –
2018Dec 31, 2018 7.4B1.2B 16.6% 2.77 – –
2017Dec 31, 2017 6.7B1.2B 18.6% 2.67 – –
2016Dec 31, 2016 5.8B956.4M 16.5% 1.98 – –
Quarters (amounts in USD, per share in USD)
QuarterEndRevenueNet income MarginEarnings per shareDividend per sharePayout
Q3/26Sep 30, 2026 2.8B780.8M 28.0% 1.64 1.79 109%
Q2/26Jun 30, 2026 2.7B887.5M 32.3% 1.86 1.79 96%
Q1/26Mar 31, 2026 2.7B878.5M 32.1% 1.84 1.70 92%
Q4/25*Dec 31, 2025 2.7B836.8M 30.6% – 1.70 –
Q3/25Sep 30, 2025 2.7B912.6M 33.6% 1.82 1.70 93%
Q2/25Jun 30, 2025 2.6B380.5M 14.5% 0.78 1.70 218%
Q1/25Mar 31, 2025 2.6B498.6M 19.5% 1.04 1.62 156%
Q4/24*Dec 31, 2024 2.5B1.2B 48.3% 2.62 1.62 62%
Q3/24Sep 30, 2024 2.5B−780.4M −30.9% −1.69 1.62 –
Q2/24Jun 30, 2024 2.9B908.4M 31.3% 1.92 1.62 84%
Q1/24Mar 31, 2024 2.8B921.7M 32.5% 1.96 1.70 87%
Q4/23*Dec 31, 2023 2.5B13.3M 0.5% 0.18 1.70 944%

* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.

How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.

Insiders

All insider transactions
Insider purchases and sales on the market over 3, 6 and 12 months
PeriodPurchasesSalesNet
3 months $508.6K2 people $1.2M2 people −$695.5K
6 months $524.1K2 people $1.4M2 people −$853.1K
12 months $2.0M3 people $23.2M5 people −$21.2M

Latest transactions

  • Oct 20, 2026 Clarke Teresa Hillary Director Open-market purchase 43 shares · $7.9K · SEC
  • Aug 21, 2026 Kalathur Rajesh Director Open-market purchase 2,829 shares · $500.7K · SEC
  • Jul 29, 2026 Meyer Robert Joseph Chief financial officer (CFO) Open-market sale 5,000 shares · $894.5K · SEC
  • Jul 29, 2026 Dowling Ruth T Officer Open-market sale · 10b5-1 plan 1,106 shares · $193.5K · SEC
  • Jul 28, 2026 Dowling Ruth T Officer Open-market sale · 10b5-1 plan 685 shares · $116.1K · SEC
  • Jul 13, 2026 Clarke Teresa Hillary Director Open-market purchase 46 shares · $7.8K · SEC

Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.

Trend score +50

Price vs. EMA 50+15
Price vs. EMA 200+15
EMA 50 vs. EMA 200-20
ADX (trend strength)+15
Highs and lows+10
Relative strength+15

Volatility and trend strength

ADX 14 (trend strength)28.8
Rel. strength 60 d+6.0%

ATR and moving averages as price values only when logged in.

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