Market Pulse50Neutral

American Tower CorporationOpportunity Rank #148(AMT) Intrinsic Value & DCF Analysis (2026)

Sector: Real Estate

Current Price

$176.50

Last updated: Mar 24, 2026

Price vs Intrinsic Value

$176.50
Price
$232.88
Intrinsic Value
Undervalued by 32%MOS: $186.30

Fundamental Score

53/100
Neutral

Weighted across 6 signals

Narrative Score

66/100
Improving

No change vs previous

The intrinsic value of American Tower Corporation (AMT) is estimated at $232.88 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $176.50, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes a 5.71% long-term growth rate and an 8.50% discount rate (calculated: 6.82%), reflecting expected future free cash flow and cost of capital.

The intrinsic value of American Tower Corporation (AMT) is estimated at $232.88 per share based on a 10-year discounted cash flow (DCF) analysis. At the current price of $176.50, the stock appears undervalued relative to its projected cash flow fundamentals. This estimate assumes a 5.71% long-term growth rate and an 8.50% discount rate (calculated: 6.82%), reflecting expected future free cash flow and cost of capital.

Valuation Details

$232.88
▲ 31.94% upside
20% margin of safety: $186.30
Years: 10Growth Rate: 5.71%
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Capital Efficiency

Average Quarterly ROIC
2.36%
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

53/100
NeutralWeighted across 6 signals
DCF Discount
31.9% discount to price
100
FCF Yield
8.6% trailing FCF yield
100
ROIC vs WACC
ROIC 2.4% vs WACC 11.0% (0.2x)
11
Net Debt / FCF
5.1x net debt to FCF
0
Buybacks
Share count growing
30
FCF CAGR (5Y)
7.8% 5Y FCF CAGR
64
Strengths: DCF Discount, FCF Yield. Concerns: ROIC vs WACC, Net Debt / FCF.

Narrative Details

66/100
Improving
Vs 6-Month Baseline:Average (49th pct)Weighted across 5 recent drivers
Trend: Deteriorating downConfidence: 89%Updated: 1h ago
Sources: 89 (81 News · 8 Analyst)
Drivers(last 30 days)
30 regulatory scrutiny+1.1
50 news sentiment+0.4
Earnings beat+0.0
Analyst downgrades-0.0
7 analyst reiterations0.0

Investment Coach

Updated 12h ago
WATCHConfidence: 48%
Thesis
American Tower Corporation is currently trading at a significant discount with an estimated fair value 37.8% above its current price, supported by a stable and improving narrative score. However, returns are trailing the estimated cost of capital, indicating potential challenges in value creation.
Key Risk
Elevated leverage at 5.1x net debt to free cash flow poses financial risk to the company’s stability and growth prospects.
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: 5.71%5 Year CAGR: 2.89%

Free Cash Flow (in millions)

TTM20252024202320222021202020192018201720162015201420132012201120102009200820072006
$7,144$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, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.