Market Pulse44Neutral

American Tower CorporationOpportunity Rank #135(AMT) Intrinsic Value & DCF Analysis (2026)

Sector: Real Estate

Current Price

$176.43

Last updated: Jun 23, 2026

Price vs Intrinsic Value

$176.43
Price
$245.44
Intrinsic Value
Undervalued by 39%MOS: $196.35

Fundamental Score

59/100
Neutral

Weighted across 6 signals

Narrative Score

56/100
Improving

+1 vs previous

Trend Score

31/100
Weak

As of 2026-06-22

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 $176.43, 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: 6.83%), 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 $176.43, 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: 6.83%), reflecting expected future free cash flow and cost of capital.

Valuation Details

$245.44
▲ 39.11% 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
39.1% discount to price
100
FCF Yield
9.0% 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

56/100
Improving
+1 vs previous · +1 new driversVs 6-Month Baseline:Low (7th pct)Weighted across 6 recent drivers
Trend: StableConfidence: 89%Updated: 1h ago
Sources: 65 (56 News · 9 Analyst)
Drivers(last 30 days)
43 news sentiment+0.5
10 regulatory scrutiny+0.1
Upgrade headlines+0.0
2 analyst upgrades+0.0
Earnings beat+0.0
Downgrade headlines-0.0

Trend Details

31/100
WeakAs of 2026-06-22308 daily bars used
3M Relative Strength vs SPY-15.0%
6M Relative Strength vs SPY-12.0%
Price vs 21 EMA-4.1%
Price vs 21 EMA26 · -4.1%
Price vs 50 EMA34 · -3.4%
21 EMA vs 50 EMA56 · +0.8%
3M RS vs SPY8 · -15.0%
6M RS vs SPY21 · -12.0%
Distance from 52W High52 · -24.1%

Investment Coach

Updating... 12d 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, a prominent global Real Estate Investment Trust (REIT), stands as a premier independent entity specializing in the ownership, operation, and development of shared telecommunications infrastructure. The company manages an extensive portfolio of approximately 219,000 communication sites worldwide. For additional details, including earnings materials and investor presentations, please visit their investor relations website at www.americantower.com.