Market Pulse46Neutral

American Tower CorporationOpportunity Rank #154(AMT) Intrinsic Value & DCF Analysis (2026)

Sector: Real Estate

Current Price

$168.59

Last updated: Jul 13, 2026

Price vs Intrinsic Value

$168.59
Price
$245.44
Intrinsic Value
Undervalued by 46%MOS: $196.35

Fundamental Score

59/100
Neutral

Weighted across 6 signals

Narrative Score

61/100
Improving

+1 vs previous

Trend Score

27/100
Weak

As of 2026-07-10

The intrinsic value of American Tower Corporation (AMT) is estimated at $245.44 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $168.59, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes a 5.73% long-term growth rate and an 8.50% discount rate (calculated: 6.81%), reflecting expected future free cash flow and cost of capital.

The intrinsic value of American Tower Corporation (AMT) is estimated at $245.44 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $168.59, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes a 5.73% long-term growth rate and an 8.50% discount rate (calculated: 6.81%), reflecting expected future free cash flow and cost of capital.

Valuation Details

$245.44
▲ 45.58% upside
20% margin of safety: $196.35
Years: 10Growth Rate: 5.73%
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Capital Efficiency

Average Quarterly ROIC
2.58%
Cost of Capital (estimated)11%
Value StatusUnderperforming Capital

The company is earning below its required return. This may indicate inefficient use of capital or excess cash that isn't being reinvested.

Complete historical ROIC is available with
.

Fundamental Details

59/100
NeutralWeighted across 6 signals
DCF Discount
45.6% discount to price
100
FCF Yield
9.4% trailing FCF yield
100
ROIC vs WACC
ROIC 2.6% vs WACC 11.0% (0.2x)
12
Net Debt / FCF
4.9x net debt to FCF
0
Buybacks
Share count shrinking
80
FCF CAGR (5Y)
8.4% 5Y FCF CAGR
67
Strengths: DCF Discount, FCF Yield. Concerns: ROIC vs WACC, Net Debt / FCF.

Narrative Details

61/100
Improving
+1 vs previous · +3 new driversVs 6-Month Baseline:Below Avg (38th pct)Weighted across 5 recent drivers
Trend: StableConfidence: 87%Updated: 2h ago
Sources: 55 (45 News · 10 Analyst)
Drivers(last 30 days)
35 news sentiment+0.6
4 analyst upgrades+0.3
9 regulatory scrutiny+0.3
Upgrade headlines+0.0
6 analyst reiterations0.0

Trend Details

27/100
WeakAs of 2026-07-10309 daily bars used
3M Relative Strength vs SPY-17.3%
6M Relative Strength vs SPY-10.0%
Price vs 50 EMA-4.5%
Price vs 21 EMA37 · -2.1%
Price vs 50 EMA28 · -4.5%
21 EMA vs 50 EMA30 · -2.5%
3M RS vs SPY5 · -17.3%
6M RS vs SPY25 · -10.0%
Distance from 52W High45 · -27.4%

Investment Coach

Updating... 32d ago
BUYConfidence: 54%
Thesis
American Tower Corporation is undervalued with an estimated fair value 33.1% above its current price and demonstrates healthy free cash flow yield at 8.2%. Despite trailing returns relative to its cost of capital, the company's fundamentals remain constructive and supported by strong buybacks and cash flow growth.
Key Risk
The key risk is the negative spread between ROIC and WACC, indicating returns are not currently covering the cost of capital.
Signals To Watch
  • Monitor whether valuation discount remains above 10%.
  • Track ROIC versus WACC spread for sustained improvement.
  • Follow narrative trend for meaningful shifts in the score direction.
Ask the Coach - Available with
Historical Growth Rates
Free Cash Flow- - -Trend CAGR: 5.73%5 Year CAGR: 3.52%

Free Cash Flow (in millions)

TTM20252024202320222021202020192018201720162015201420132012201120102009200820072006
$7,368$7,144$6,881$6,521$5,570$6,197$4,913$4,744$4,662$3,729$3,386$2,912$3,109$2,324$1,982$1,689$1,368$1,092$1,017$847$748

How Intrinziq Estimates Fair Value

Intrinziq estimates American Tower Corporation's intrinsic value using a discounted cash flow (DCF) model based on free cash flow trends and a market-based discount rate. The model projects future cash flows over ten years and discounts them using a market return assumption to estimate fair value.

American Tower CorporationReal Estate

American Tower Corporation is one of the largest global real estate investment trusts. It is a leading independent owner, operator and developer of multitenant communications real estate. The Company's 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 few other industries. The Company refers to this business, inclusive of its data center business discussed below, as its property operations. Additionally, the Company offers tower-related services in the United States, which the Company refers to as its services operations. These services include site application, zoning and permitting, structural and mount analyses, and construction management services, together with program management offerings that support customer deployment needs from project scoping through construction. The Company's services operations primarily support the Company's site leasing business, including through the addition of new tenants and equipment on its sites. The Company's customers include its tenants, licensees and other payers. American Tower Corporation was incorporated in 1995 in Delaware and is based in Massachusetts, Boston.