American Tower Corp
Expected move
InputsNext report
Last report
Largest filed tie
13F top-10 QoQ
Top fund weight
Last report1 of 8 at or beyond impliedshaded = implied▲▼ = realized× = |realized| ÷ implied
−2.36%
vs ±6.2% implied · ×0.38
shaded = implied · ▲▼ = realized
American Tower has 1 disclosed supplier and 16 disclosed customers in SEC filings.
SentenceFor the year ended December 31, 2025 2024 2023 T-Mobile 18 % 19 % 19 % AT&T 17 % 18 % 18 % Verizon Wireless 14 % 13 % 14 % Telefónica 10 % 10 % 10 %
basisAMT FY2025 revenue $10.6B
AMT 10-Kaccession 0001053507-26-000035
SentenceDISH represented approximately 2% and 4% of our total annual property revenue and total annual U.S. & Canada property revenue, respectively, for 2025.
basisAMT FY2025 revenue $10.6B
AMT 10-Kaccession 0001053507-26-000035
SentenceWe spent approximately $123.0 million for acquisitions, including $25.7 million in payments made for acquisitions completed in 2023, $59.1 million in payments for sites acquired in connection with the AT&T transaction described in note 18 to our consolidated financial statements included in this Annual Report.
SentenceWe expect that our churn rate in our U.S. & Canada property segment will continue to be elevated through 2025 due to contractual lease cancellations and non-renewals by T-Mobile US, Inc. ("T-Mobile"), including legacy Sprint Corporation leases, pursuant to the terms of our master lease agreement with T-Mobile (the "T-Mobile MLA") entered into in September 2020.
SentenceFor example, we are currently engaged in a legal dispute (the "Arbitration") with one of our customers in Mexico, AT&T Comunicaciones Digitales, S. de R.L. de C.V. and related entities (collectively, "AT&T Mexico").
AMT 10-Kaccession 0001053507-26-000035
SentenceAT&T Mexico, which represented approximately $300 million of tenant revenue in 2025, is challenging the calculation of the monthly lease amount established under our Master Lease Agreement with AT&T Mexico (the "MLA"), as well as certain other provisions of the MLA, seeking rent abatement both retroactively and prospectively, and withheld certain tower rents during 2025.
AMT 10-Kaccession 0001053507-26-000035
Sentence• Africa & APAC: Bharti Airtel Limited ("Airtel"); and MTN Group Limited ("MTN") accounted for an aggregate of 81% of Africa & APAC property segment revenue.
AMT 10-Kaccession 0001053507-25-000025
SentenceAdditionally, on September 24, 2025, one of our U.S. customers, DISH Wireless L.L.C., a subsidiary of DISH Network Corporation ("DISH"), delivered a notice purporting to be excused from its contractual obligations under our Strategic Collocation Agreement entered into in March 2021 (the "SCA").
AMT 10-Kaccession 0001053507-26-000035
Sentence• Africa & APAC: Bharti Airtel Limited ("Airtel"); and MTN Group Limited ("MTN") accounted for an aggregate of 81% of Africa & APAC property segment revenue.
AMT 10-Kaccession 0001053507-25-000025
SentenceWe expect that our churn rate in our U.S. & Canada property segment will remain elevated through 2025 due to contractual lease cancellations and non-renewals by T-Mobile, including legacy Sprint Corporation leases, pursuant to the terms of the T-Mobile MLA entered into in September 2020.
AMT 10-Kaccession 0001053507-25-000025
Sentence• Europe: Telefónica S.A. ("Telefónica") accounted for an aggregate of 70% of Europe property segment revenue.
AMT 10-Kaccession 0001053507-25-000025
Sentence• Latin America: América Móvil; AT&T; Telefónica; and TIM S.p.A. accounted for an aggregate of 74% of Latin America property segment revenue.
AMT 10-Kaccession 0001053507-25-000025
SentenceIn the third quarter of 2022, one of our largest customers in India, Vodafone Idea Limited ("VIL"), communicated that it would make partial payments of its contractual amounts owed to us (the "VIL Shortfall").
AMT 10-Kaccession 0001053507-25-000025
SentenceOur primary business is the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries.
AMT 10-Kaccession 0001053507-26-000035
American Tower Corp
186.64
Expected move
Inputsspot 187.78exp Mar 19ATM strike 190ATM straddle 28.25IV 31%