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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
—
Company details
Market cap
$79B
P/E ratio
34×
Div yield
3.8%
Dividend / sh
$6.80
Property revenue
~$10.5B
Rev. growth
+7%
Towers & sites
~150,000
US data centres
30
In plain English
American Tower is a toll-booth on mobile data: it owns ~150,000 cell towers and sites across the US, Latin America, Africa, Europe and Asia, and rents antenna space on each one to several phone carriers at once. Every extra tenant on a tower is almost pure profit, so its income compounds as the world uses more wireless data — and after buying CoreSite it now also owns 30 US data centres at the edge of the cloud.
In simple terms
A toll-booth on mobile data
American Tower owns the towers; the carriers own the antennas bolted onto them. Each carrier pays rent, and because several carriers share one tower, every extra tenant is almost pure profit. Consumers and businesses using more data is what forces carriers to keep adding equipment.
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