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Side-by-side financial comparison of American Tower (AMT) and APA Corporation (APA). Click either name above to swap in a different company.
American Tower is the larger business by last-quarter revenue ($2.7B vs $2.2B, roughly 1.2× APA Corporation). American Tower runs the higher net margin — 110.1% vs 15.0%, a 95.1% gap on every dollar of revenue. Over the past eight quarters, American Tower's revenue compounded faster (3.7% CAGR vs 1.4%).
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.
APA Corporation, a holding company for Apache Corporation, an American company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston.
AMT vs APA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.7B | $2.2B |
| Net Profit | $3.0B | $331.0M |
| Gross Margin | — | — |
| Operating Margin | 0.0% | 32.5% |
| Net Margin | 110.1% | 15.0% |
| Revenue YoY | — | -24.3% |
| Net Profit YoY | — | -22.1% |
| EPS (diluted) | — | $0.79 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $2.2B | ||
| Q3 25 | $2.7B | $2.3B | ||
| Q2 25 | $2.6B | $2.3B | ||
| Q1 25 | $2.6B | $2.7B | ||
| Q4 24 | $2.5B | $2.9B | ||
| Q3 24 | $2.5B | $2.7B | ||
| Q2 24 | $2.5B | $2.8B |
| Q1 26 | $3.0B | — | ||
| Q4 25 | $836.8M | $331.0M | ||
| Q3 25 | $912.6M | $205.0M | ||
| Q2 25 | $380.5M | $603.0M | ||
| Q1 25 | $498.6M | $418.0M | ||
| Q4 24 | $1.2B | $425.0M | ||
| Q3 24 | $-780.4M | $-223.0M | ||
| Q2 24 | $908.4M | $541.0M |
| Q1 26 | 0.0% | — | ||
| Q4 25 | 42.4% | 32.5% | ||
| Q3 25 | 45.4% | 33.7% | ||
| Q2 25 | 45.6% | 31.8% | ||
| Q1 25 | 48.9% | 31.9% | ||
| Q4 24 | 42.4% | 31.4% | ||
| Q3 24 | 45.2% | -5.2% | ||
| Q2 24 | 45.4% | 34.4% |
| Q1 26 | 110.1% | — | ||
| Q4 25 | 30.6% | 15.0% | ||
| Q3 25 | 33.6% | 9.0% | ||
| Q2 25 | 14.5% | 26.0% | ||
| Q1 25 | 19.5% | 15.4% | ||
| Q4 24 | 48.3% | 14.6% | ||
| Q3 24 | -30.9% | -8.1% | ||
| Q2 24 | 35.7% | 19.0% |
| Q1 26 | — | — | ||
| Q4 25 | $1.76 | $0.79 | ||
| Q3 25 | $1.82 | $0.57 | ||
| Q2 25 | $0.78 | $1.67 | ||
| Q1 25 | $1.04 | $0.96 | ||
| Q4 24 | $2.63 | $0.97 | ||
| Q3 24 | $-1.69 | $-0.60 | ||
| Q2 24 | $1.92 | $1.46 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.6B | $516.0M |
| Total DebtLower is stronger | — | $4.3B |
| Stockholders' EquityBook value | $10.2B | $6.1B |
| Total Assets | — | $17.8B |
| Debt / EquityLower = less leverage | — | 0.70× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.5B | $516.0M | ||
| Q3 25 | $2.0B | $475.0M | ||
| Q2 25 | $2.1B | $107.0M | ||
| Q1 25 | $2.1B | $67.0M | ||
| Q4 24 | $2.0B | $625.0M | ||
| Q3 24 | $2.2B | $64.0M | ||
| Q2 24 | $2.2B | $160.0M |
| Q1 26 | — | — | ||
| Q4 25 | $33.8B | $4.3B | ||
| Q3 25 | $34.9B | $4.3B | ||
| Q2 25 | $35.2B | $4.3B | ||
| Q1 25 | $34.0B | $5.2B | ||
| Q4 24 | $32.8B | $6.0B | ||
| Q3 24 | $33.4B | $6.4B | ||
| Q2 24 | $35.6B | $6.7B |
| Q1 26 | $10.2B | — | ||
| Q4 25 | $3.7B | $6.1B | ||
| Q3 25 | $4.0B | $6.0B | ||
| Q2 25 | $3.7B | $5.9B | ||
| Q1 25 | $3.5B | $5.4B | ||
| Q4 24 | $3.4B | $5.3B | ||
| Q3 24 | $3.6B | $5.1B | ||
| Q2 24 | $3.9B | $5.4B |
| Q1 26 | — | — | ||
| Q4 25 | $63.2B | $17.8B | ||
| Q3 25 | $63.9B | $17.7B | ||
| Q2 25 | $63.8B | $18.1B | ||
| Q1 25 | $62.1B | $18.5B | ||
| Q4 24 | $61.1B | $19.4B | ||
| Q3 24 | $62.8B | $19.4B | ||
| Q2 24 | $65.8B | $20.2B |
| Q1 26 | — | — | ||
| Q4 25 | 9.26× | 0.70× | ||
| Q3 25 | 8.82× | 0.72× | ||
| Q2 25 | 9.48× | 0.73× | ||
| Q1 25 | 9.63× | 0.96× | ||
| Q4 24 | 9.70× | 1.13× | ||
| Q3 24 | 9.16× | 1.25× | ||
| Q2 24 | 9.24× | 1.24× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $808.0M |
| Free Cash FlowOCF − Capex | $941.0M | — |
| FCF MarginFCF / Revenue | 34.4% | — |
| Capex IntensityCapex / Revenue | 16.8% | — |
| Cash ConversionOCF / Net Profit | — | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | $6.7B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $5.5B | $808.0M | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $5.3B | $1.0B | ||
| Q3 24 | $1.5B | $1.3B | ||
| Q2 24 | $1.3B | $877.0M |
| Q1 26 | $941.0M | — | ||
| Q4 25 | $3.8B | — | ||
| Q3 25 | $994.5M | — | ||
| Q2 25 | $976.9M | — | ||
| Q1 25 | $963.9M | — | ||
| Q4 24 | $3.7B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — |
| Q1 26 | 34.4% | — | ||
| Q4 25 | 138.2% | — | ||
| Q3 25 | 36.6% | — | ||
| Q2 25 | 37.2% | — | ||
| Q1 25 | 37.6% | — | ||
| Q4 24 | 145.3% | — | ||
| Q3 24 | 41.4% | — | ||
| Q2 24 | 39.8% | — |
| Q1 26 | 16.8% | — | ||
| Q4 25 | 61.4% | — | ||
| Q3 25 | 17.1% | — | ||
| Q2 25 | 11.6% | — | ||
| Q1 25 | 12.9% | — | ||
| Q4 24 | 62.4% | — | ||
| Q3 24 | 16.8% | — | ||
| Q2 24 | 12.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | 6.53× | 2.44× | ||
| Q3 25 | 1.60× | 7.12× | ||
| Q2 25 | 3.37× | 1.96× | ||
| Q1 25 | 2.60× | 2.62× | ||
| Q4 24 | 4.30× | 2.44× | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.47× | 1.62× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMT
Segment breakdown not available.
APA
| Oil And Gas Excluding Purchased | $1.7B | 76% |
| Oil And Gas Purchased | $323.0M | 15% |
| Oil Reserves | $114.0M | 5% |
| Other | $72.0M | 3% |
| Natural Gas Reserves | $30.0M | 1% |
