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Side-by-side financial comparison of American Tower (AMT) and Bath & Body Works, Inc. (BBWI). Click either name above to swap in a different company.
American Tower is the larger business by last-quarter revenue ($2.7B vs $1.6B, roughly 1.7× Bath & Body Works, Inc.). American Tower runs the higher net margin — 110.1% vs 4.8%, a 105.3% gap on every dollar of revenue. American Tower produced more free cash flow last quarter ($941.0M vs $-1.0M). Over the past eight quarters, American Tower's revenue compounded faster (3.7% CAGR vs -26.0%).
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.
Bath & Body Works, Inc. is an American specialty retail company based in Columbus, Ohio. It owns Bath & Body Works, posted $7.4 billion in revenue in 2023, and was listed as 481 on the 2024 Fortune 500 list of largest United States companies by revenue.
AMT vs BBWI — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.7B | $1.6B |
| Net Profit | $3.0B | $77.0M |
| Gross Margin | — | 41.3% |
| Operating Margin | 0.0% | 10.1% |
| Net Margin | 110.1% | 4.8% |
| Revenue YoY | — | -1.0% |
| Net Profit YoY | — | -27.4% |
| EPS (diluted) | — | $0.37 |
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 | $1.6B | ||
| Q3 25 | $2.7B | $1.5B | ||
| Q2 25 | $2.6B | $1.4B | ||
| Q1 25 | $2.6B | $2.8B | ||
| Q4 24 | $2.5B | $1.6B | ||
| Q3 24 | $2.5B | $1.5B | ||
| Q2 24 | $2.5B | $1.4B |
| Q1 26 | $3.0B | — | ||
| Q4 25 | $836.8M | $77.0M | ||
| Q3 25 | $912.6M | $64.0M | ||
| Q2 25 | $380.5M | $105.0M | ||
| Q1 25 | $498.6M | $453.0M | ||
| Q4 24 | $1.2B | $106.0M | ||
| Q3 24 | $-780.4M | $152.0M | ||
| Q2 24 | $908.4M | $87.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 41.3% | ||
| Q3 25 | — | 41.3% | ||
| Q2 25 | — | 45.4% | ||
| Q1 25 | — | 46.7% | ||
| Q4 24 | — | 43.5% | ||
| Q3 24 | — | 41.0% | ||
| Q2 24 | — | 43.8% |
| Q1 26 | 0.0% | — | ||
| Q4 25 | 42.4% | 10.1% | ||
| Q3 25 | 45.4% | 10.1% | ||
| Q2 25 | 45.6% | 14.7% | ||
| Q1 25 | 48.9% | 24.3% | ||
| Q4 24 | 42.4% | 13.5% | ||
| Q3 24 | 45.2% | 12.0% | ||
| Q2 24 | 45.4% | 13.5% |
| Q1 26 | 110.1% | — | ||
| Q4 25 | 30.6% | 4.8% | ||
| Q3 25 | 33.6% | 4.1% | ||
| Q2 25 | 14.5% | 7.4% | ||
| Q1 25 | 19.5% | 16.3% | ||
| Q4 24 | 48.3% | 6.6% | ||
| Q3 24 | -30.9% | 10.0% | ||
| Q2 24 | 35.7% | 6.3% |
| Q1 26 | — | — | ||
| Q4 25 | $1.76 | $0.37 | ||
| Q3 25 | $1.82 | $0.30 | ||
| Q2 25 | $0.78 | $0.49 | ||
| Q1 25 | $1.04 | $2.06 | ||
| Q4 24 | $2.63 | $0.49 | ||
| Q3 24 | $-1.69 | $0.68 | ||
| Q2 24 | $1.92 | $0.38 |
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 | $236.0M |
| Total DebtLower is stronger | — | $3.9B |
| Stockholders' EquityBook value | $10.2B | $-1.6B |
| Total Assets | — | $5.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.5B | $236.0M | ||
| Q3 25 | $2.0B | $364.0M | ||
| Q2 25 | $2.1B | $636.0M | ||
| Q1 25 | $2.1B | $674.0M | ||
| Q4 24 | $2.0B | $191.0M | ||
| Q3 24 | $2.2B | $514.0M | ||
| Q2 24 | $2.2B | $855.0M |
| Q1 26 | — | — | ||
| Q4 25 | $33.8B | $3.9B | ||
| Q3 25 | $34.9B | $3.9B | ||
| Q2 25 | $35.2B | $3.9B | ||
| Q1 25 | $34.0B | $3.9B | ||
| Q4 24 | $32.8B | $4.2B | ||
| Q3 24 | $33.4B | $4.2B | ||
| Q2 24 | $35.6B | $4.3B |
| Q1 26 | $10.2B | — | ||
| Q4 25 | $3.7B | $-1.6B | ||
| Q3 25 | $4.0B | $-1.5B | ||
| Q2 25 | $3.7B | $-1.5B | ||
| Q1 25 | $3.5B | $-1.4B | ||
| Q4 24 | $3.4B | $-1.7B | ||
| Q3 24 | $3.6B | $-1.7B | ||
| Q2 24 | $3.9B | $-1.7B |
| Q1 26 | — | — | ||
| Q4 25 | $63.2B | $5.0B | ||
| Q3 25 | $63.9B | $4.8B | ||
| Q2 25 | $63.8B | $4.9B | ||
| Q1 25 | $62.1B | $4.9B | ||
| Q4 24 | $61.1B | $5.0B | ||
| Q3 24 | $62.8B | $4.9B | ||
| Q2 24 | $65.8B | $5.2B |
| Q1 26 | — | — | ||
| Q4 25 | 9.26× | — | ||
| Q3 25 | 8.82× | — | ||
| Q2 25 | 9.48× | — | ||
| Q1 25 | 9.63× | — | ||
| Q4 24 | 9.70× | — | ||
| Q3 24 | 9.16× | — | ||
| Q2 24 | 9.24× | — |
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 | — | $80.0M |
| Free Cash FlowOCF − Capex | $941.0M | $-1.0M |
| FCF MarginFCF / Revenue | 34.4% | -0.1% |
| Capex IntensityCapex / Revenue | 16.8% | 5.1% |
| Cash ConversionOCF / Net Profit | — | 1.04× |
| TTM Free Cash FlowTrailing 4 quarters | $6.7B | $946.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $5.5B | $80.0M | ||
| Q3 25 | $1.5B | $-43.0M | ||
| Q2 25 | $1.3B | $188.0M | ||
| Q1 25 | $1.3B | $955.0M | ||
| Q4 24 | $5.3B | $-99.0M | ||
| Q3 24 | $1.5B | $-46.0M | ||
| Q2 24 | $1.3B | $76.0M |
| Q1 26 | $941.0M | — | ||
| Q4 25 | $3.8B | $-1.0M | ||
| Q3 25 | $994.5M | $-99.0M | ||
| Q2 25 | $976.9M | $151.0M | ||
| Q1 25 | $963.9M | $895.0M | ||
| Q4 24 | $3.7B | $-164.0M | ||
| Q3 24 | $1.0B | $-101.0M | ||
| Q2 24 | $1.0B | $30.0M |
| Q1 26 | 34.4% | — | ||
| Q4 25 | 138.2% | -0.1% | ||
| Q3 25 | 36.6% | -6.4% | ||
| Q2 25 | 37.2% | 10.6% | ||
| Q1 25 | 37.6% | 32.1% | ||
| Q4 24 | 145.3% | -10.2% | ||
| Q3 24 | 41.4% | -6.6% | ||
| Q2 24 | 39.8% | 2.2% |
| Q1 26 | 16.8% | — | ||
| Q4 25 | 61.4% | 5.1% | ||
| Q3 25 | 17.1% | 3.6% | ||
| Q2 25 | 11.6% | 2.6% | ||
| Q1 25 | 12.9% | 2.2% | ||
| Q4 24 | 62.4% | 4.0% | ||
| Q3 24 | 16.8% | 3.6% | ||
| Q2 24 | 12.8% | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | 6.53× | 1.04× | ||
| Q3 25 | 1.60× | -0.67× | ||
| Q2 25 | 3.37× | 1.79× | ||
| Q1 25 | 2.60× | 2.11× | ||
| Q4 24 | 4.30× | -0.93× | ||
| Q3 24 | — | -0.30× | ||
| Q2 24 | 1.47× | 0.87× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMT
Segment breakdown not available.
BBWI
| Bath Body Works Stores | $1.2B | 77% |
| Bath Body Works Direct | $299.0M | 19% |
| Bath Body Works International | $73.0M | 5% |
