American Tower vs Crown Castle
American Tower is the larger business, with $10.64bn of revenue in fiscal 2025 against $4.26bn for Crown Castle (2.5 times as much). American Tower grew faster (5.1% against -4.4%). American Tower kept more of each dollar of sales as profit: a net margin of 23.8% against 10.4%.
| Latest fiscal year | American TowerAMT, 2025 | Crown CastleCCI, 2025 |
|---|---|---|
| Revenue | $10.64bn | $4.26bn |
| Revenue growth | 5.1% | -4.4% |
| Net income | $2.53bn | $444m |
| Operating margin | 45.5% | 48.7% |
| Net margin | 23.8% | 10.4% |
| Return on equity | 71.9% | — |
| Free cash flow | $3.78bn | $2.88bn |
| Cash | $1.47bn | $99.0m |
| Total debt | $37.22bn | $24.47bn |
| Debt to equity | 1019.0% | — |
| Dividend per share | $6.72 | — |
| Dividend yield | 3.7% | -6.2% |
| Share buybacks | $365m | −$23.0m |
| Employees | 2,589 | 3,900 |
| Market value | $86.74bn | $36.73bn |
| Price vs our value range | — | — |
| Moat score | 75 (Strong) | 82 (Strong) |
| Insider trades, 12 months | 6 buys, 22 sales | 1 buys, 4 sales |