AMT Free cash flow
Free cash flow at American Tower rose to $3.8B in fiscal 2025, the highest in the 5 years reported, from $3.7B in 2024.
Not a GAAP measure. Derived here as operating cash flow less capital expenditure, both as filed; the arithmetic is shown in the table.
SOURCE: us-gaap:NetCashProvidedByUsedInOperatingActivities + us-gaap:PaymentsToAcquirePropertyPlantAndEquipment · EDGAR CompanyFacts · CIK 1053507 · EDGAR ↗ · FY2021–FY2025 · ANNUAL
History AS FILED · DERIVATION SHOWN WHERE DERIVED
| Fiscal year | Operating cash flow | Capital expenditure | Free cash flow |
|---|---|---|---|
| FY2025 | $5.5B | −$1.7B | $3.8B |
| FY2024 | $5.3B | −$1.6B | $3.7B |
| FY2023 | $4.7B | −$1.8B | $2.9B |
| FY2022 | $3.7B | −$1.9B | $1.8B |
| FY2021 | $4.8B | −$1.4B | $3.4B |
Cross-checks touching this measure FROM THE FILING REVIEW
✗ RED FLAGCash conversion stability
The ratio of operating cash flow to net income swings 1.37× across three years. This page verifies no stated cause; the flag marks the size of the swing.
FY2025 10-K · FULL RECONCILIATION →✓ CLEANCapital returned vs free cash flow
Capital returned ran 0.94× of free cash flow (threshold 1.00×).
FY2025 10-K · FULL RECONCILIATION →✓ CLEANStock compensation in cash flow
Share-based compensation is 3.2% of operating cash flow (threshold 15%).
FY2025 10-K · FULL RECONCILIATION →More SAME DATA, OTHER VIEWS
Free cash flow across coverage → · AMT company view →
Revenue · Net income · Operating cash flow · Capital expenditure · Cash & equivalents · Total assets · Shareholders' equity · Total debt · Return on equity · Days sales outstanding
Not investment advice. Every figure on this page is an XBRL fact from the issuer's own SEC filings or an arithmetic over such facts with the method shown. No forecast is made; no posture is expressed.