AMT EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
AMT's ev/ebitda is lower than 95% of the last 10 years.
EV/EBITDA History
AMT EV/EBITDA by year
Yearly range of AMT’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 16.5 to 36.7, averaging 24.2.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 16.9 | 18.7 | 20.7 | 17.8 |
| 2025 | 16.5 | 19.7 | 22.7 | 19.5 |
| 2024 | 17.2 | 21.3 | 23.7 | 17.2 |
| 2023 | 21.6 | 23.6 | 27.1 | 27.0 |
| 2022 | 18.0 | 24.1 | 30.0 | 19.8 |
| 2021 | 27.3 | 30.4 | 34.0 | 30.5 |
| 2020 | 26.6 | 33.5 | 36.7 | 30.1 |
| 2019 | 21.9 | 26.4 | 32.0 | 32.0 |
| 2018 | 20.7 | 22.8 | 25.5 | 22.0 |
| 2017 | 18.4 | 20.7 | 22.4 | 21.2 |
| 2016 | 18.9 | 20.3 | 22.3 | 19.6 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is AMT EV/EBITDA High or Low Right Now?
American Tower Corporation's EV/EBITDA is currently 17.8, which is near historic low relative to its 10-year historical range. The 10-year median EV/EBITDA for AMT is approximately 22.8. See all AMT valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.