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American Tower price to book ratio AMT

Market value divided by the book value of the company's net assets, since 2009.

Today, Oct 23, 2026
23.7×
10-year median
20.5×
Against its 10-year history
74th
percentile: 0 is its lowest day, 100 its highest
10-year range
6.5× to 32.7×
Peer median
2.7×

American Tower's price to book ratio is 23.7× as of Oct 23, 2026.

That is above its ten-year median of 20.5×, higher than on 74% of days in the last ten years.

Over that time it ranged from 6.5× in Dec 2016 to 32.7× in Jul 2021.

The median for 10 specialty REITs of a similar size is 2.7×.

Price to book ratio over time

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

YearEnd of yearLowHigh
2026 so far23.7×20.0×25.7×
202520.9×20.4×30.8×
202423.3×19.0×28.9×
202322.2×14.4×22.2×
202215.7×12.4×23.9×
202124.6×20.7×32.7×
202026.7×17.1×32.4×
201919.4×13.0×19.4×
201813.1×8.8×13.7×
20179.4×6.6×9.9×
20166.7×5.5×7.4×
20156.2×5.1×9.9×
20149.5×8.4×10.0×
20138.8×7.7×9.2×
20128.4×7.2×8.7×
20117.2×5.4×7.3×
20106.0×4.5×6.1×
20095.4×4.1×5.4×

Against its peers

Companies in REIT - Specialty nearest American Tower's size, closest first, today.

CompanyPrice to book ratio
AMTAmerican Tower23.7×
EQIXEquinix6.6×
DLRDigital Realty Trust2.3×
VMRKVivmark Residential4.5×
CCICrown Castlen/m
IRMIron Mountainn/m
SBACSBA Communicationsn/m
HSTHost Hotels & Resorts2.7×
KIMKimco Realty1.5×
LAMRLamar Advertising16.0×
WPCW. P. Carey1.7×
Peer median2.7×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

More on American Tower

Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.