Market Pulse59Neutral

American Tower CorporationOpportunity Rank #122(AMT) Intrinsic Value & DCF Analysis (2026)

Sector: Real Estate

Current Price

$179.77

Last updated: May 08, 2026

Price vs Intrinsic Value

$179.77
Price
$245.44
Intrinsic Value
Undervalued by 37%MOS: $196.35

Fundamental Score

59/100
Neutral

Weighted across 6 signals

Narrative Score

61/100
Improving

No change vs previous

Trend Score

40/100
Weak

As of 2026-05-08

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 $179.77, 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: 6.87%), 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 $179.77, 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: 6.87%), reflecting expected future free cash flow and cost of capital.

Valuation Details

$245.44
▲ 36.53% upside
20% margin of safety: $196.35
Years: 10Growth Rate: 5.73%
Want to create your own valuation? Create a free account.

Capital Efficiency

Average Quarterly ROIC
2.5%
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
36.5% discount to price
100
FCF Yield
8.8% trailing FCF yield
100
ROIC vs WACC
ROIC 2.5% vs WACC 11.0% (0.2x)
11
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
Vs 6-Month Baseline:Below Avg (20th pct)Weighted across 6 recent drivers
Trend: StableConfidence: 89%Updated: 16h ago
Sources: 89 (78 News · 11 Analyst)
Drivers(last 30 days)
51 news sentiment+1.0
Earnings beat+0.1
Upgrade headlines+0.1
24 regulatory scrutiny-0.0
Analyst upgrades+0.0
Downgrade headlines-0.0

Trend Details

40/100
WeakAs of 2026-05-08311 daily bars used
6M Relative Strength vs SPY-10.5%
3M Relative Strength vs SPY-3.7%
Price vs 21 EMA-1.2%
Price vs 21 EMA43 · -1.2%
Price vs 50 EMA43 · -1.3%
21 EMA vs 50 EMA49 · -0.2%
3M RS vs SPY35 · -3.7%
6M RS vs SPY24 · -10.5%
Distance from 52W High52 · -24.0%

Investment Coach

Updating... 1d ago
BUYConfidence: 54%
Thesis
American Tower Corporation is undervalued with a fair value estimate 42.2% above its current price, supported by healthy free cash flow yield and constructive fundamentals. Despite trailing returns relative to its cost of capital, the company shows potential for value appreciation given its strong free cash flow growth and buyback activity.
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 vs 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, 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.