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Side-by-side financial comparison of American Tower (AMT) and KeyCorp (KEY). Click either name above to swap in a different company.
American Tower is the larger business by last-quarter revenue ($2.7B vs $2.0B, roughly 1.4× KeyCorp). American Tower runs the higher net margin — 110.1% vs 25.4%, a 84.7% gap on every dollar of revenue. KeyCorp produced more free cash flow last quarter ($2.1B vs $941.0M). Over the past eight quarters, KeyCorp's revenue compounded faster (14.4% CAGR vs 3.7%).
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.
Key is a Japanese visual novel studio known for making dramatic and plot-oriented titles. It was formed on July 21, 1998, as a brand under the publisher Visual Arts, and is located in Kita, Osaka.
AMT vs KEY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.7B | $2.0B |
| Net Profit | $3.0B | $510.0M |
| Gross Margin | — | — |
| Operating Margin | 0.0% | 32.3% |
| Net Margin | 110.1% | 25.4% |
| Revenue YoY | — | 131.8% |
| Net Profit YoY | — | 309.0% |
| EPS (diluted) | — | $0.43 |
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 | $2.0B | ||
| Q3 25 | $2.7B | $1.9B | ||
| Q2 25 | $2.6B | $1.8B | ||
| Q1 25 | $2.6B | $1.8B | ||
| Q4 24 | $2.5B | $865.0M | ||
| Q3 24 | $2.5B | $695.0M | ||
| Q2 24 | $2.5B | $1.5B |
| Q1 26 | $3.0B | — | ||
| Q4 25 | $836.8M | $510.0M | ||
| Q3 25 | $912.6M | $489.0M | ||
| Q2 25 | $380.5M | $425.0M | ||
| Q1 25 | $498.6M | $405.0M | ||
| Q4 24 | $1.2B | $-244.0M | ||
| Q3 24 | $-780.4M | $-410.0M | ||
| Q2 24 | $908.4M | $274.0M |
| Q1 26 | 0.0% | — | ||
| Q4 25 | 42.4% | 32.3% | ||
| Q3 25 | 45.4% | 31.8% | ||
| Q2 25 | 45.6% | 29.3% | ||
| Q1 25 | 48.9% | 29.0% | ||
| Q4 24 | 42.4% | -92.6% | ||
| Q3 24 | 45.2% | -72.8% | ||
| Q2 24 | 45.4% | 22.0% |
| Q1 26 | 110.1% | — | ||
| Q4 25 | 30.6% | 25.4% | ||
| Q3 25 | 33.6% | 25.8% | ||
| Q2 25 | 14.5% | 23.1% | ||
| Q1 25 | 19.5% | 22.8% | ||
| Q4 24 | 48.3% | -54.7% | ||
| Q3 24 | -30.9% | -59.0% | ||
| Q2 24 | 35.7% | 18.0% |
| Q1 26 | — | — | ||
| Q4 25 | $1.76 | $0.43 | ||
| Q3 25 | $1.82 | $0.41 | ||
| Q2 25 | $0.78 | $0.35 | ||
| Q1 25 | $1.04 | $0.33 | ||
| Q4 24 | $2.63 | $-0.30 | ||
| Q3 24 | $-1.69 | $-0.47 | ||
| Q2 24 | $1.92 | $0.25 |
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 | $10.2B |
| Total DebtLower is stronger | — | $9.9B |
| Stockholders' EquityBook value | $10.2B | $20.4B |
| Total Assets | — | $184.4B |
| Debt / EquityLower = less leverage | — | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.5B | $10.2B | ||
| Q3 25 | $2.0B | $13.3B | ||
| Q2 25 | $2.1B | $11.6B | ||
| Q1 25 | $2.1B | $15.3B | ||
| Q4 24 | $2.0B | $17.5B | ||
| Q3 24 | $2.2B | $22.8B | ||
| Q2 24 | $2.2B | $15.5B |
| Q1 26 | — | — | ||
| Q4 25 | $33.8B | $9.9B | ||
| Q3 25 | $34.9B | $10.9B | ||
| Q2 25 | $35.2B | $12.1B | ||
| Q1 25 | $34.0B | $12.4B | ||
| Q4 24 | $32.8B | $12.1B | ||
| Q3 24 | $33.4B | $15.7B | ||
| Q2 24 | $35.6B | $16.9B |
| Q1 26 | $10.2B | — | ||
| Q4 25 | $3.7B | $20.4B | ||
| Q3 25 | $4.0B | $20.1B | ||
| Q2 25 | $3.7B | $19.5B | ||
| Q1 25 | $3.5B | $19.0B | ||
| Q4 24 | $3.4B | $18.2B | ||
| Q3 24 | $3.6B | $16.9B | ||
| Q2 24 | $3.9B | $14.8B |
| Q1 26 | — | — | ||
| Q4 25 | $63.2B | $184.4B | ||
| Q3 25 | $63.9B | $187.4B | ||
| Q2 25 | $63.8B | $185.5B | ||
| Q1 25 | $62.1B | $188.7B | ||
| Q4 24 | $61.1B | $187.2B | ||
| Q3 24 | $62.8B | $189.8B | ||
| Q2 24 | $65.8B | $187.4B |
| Q1 26 | — | — | ||
| Q4 25 | 9.26× | 0.49× | ||
| Q3 25 | 8.82× | 0.54× | ||
| Q2 25 | 9.48× | 0.62× | ||
| Q1 25 | 9.63× | 0.65× | ||
| Q4 24 | 9.70× | 0.67× | ||
| Q3 24 | 9.16× | 0.93× | ||
| Q2 24 | 9.24× | 1.14× |
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 | — | $2.2B |
| Free Cash FlowOCF − Capex | $941.0M | $2.1B |
| FCF MarginFCF / Revenue | 34.4% | 104.8% |
| Capex IntensityCapex / Revenue | 16.8% | 5.3% |
| Cash ConversionOCF / Net Profit | — | 4.33× |
| TTM Free Cash FlowTrailing 4 quarters | $6.7B | $3.5B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $5.5B | $2.2B | ||
| Q3 25 | $1.5B | $396.0M | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.3B | $-140.0M | ||
| Q4 24 | $5.3B | $664.0M | ||
| Q3 24 | $1.5B | $-1.2B | ||
| Q2 24 | $1.3B | $-217.0M |
| Q1 26 | $941.0M | — | ||
| Q4 25 | $3.8B | $2.1B | ||
| Q3 25 | $994.5M | $367.0M | ||
| Q2 25 | $976.9M | $1.2B | ||
| Q1 25 | $963.9M | $-150.0M | ||
| Q4 24 | $3.7B | $599.0M | ||
| Q3 24 | $1.0B | $-1.2B | ||
| Q2 24 | $1.0B | $-230.0M |
| Q1 26 | 34.4% | — | ||
| Q4 25 | 138.2% | 104.8% | ||
| Q3 25 | 36.6% | 19.4% | ||
| Q2 25 | 37.2% | 65.8% | ||
| Q1 25 | 37.6% | -8.5% | ||
| Q4 24 | 145.3% | 69.2% | ||
| Q3 24 | 41.4% | -175.8% | ||
| Q2 24 | 39.8% | -15.1% |
| Q1 26 | 16.8% | — | ||
| Q4 25 | 61.4% | 5.3% | ||
| Q3 25 | 17.1% | 1.5% | ||
| Q2 25 | 11.6% | 1.3% | ||
| Q1 25 | 12.9% | 0.6% | ||
| Q4 24 | 62.4% | 7.5% | ||
| Q3 24 | 16.8% | 2.4% | ||
| Q2 24 | 12.8% | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | 6.53× | 4.33× | ||
| Q3 25 | 1.60× | 0.81× | ||
| Q2 25 | 3.37× | 2.90× | ||
| Q1 25 | 2.60× | -0.35× | ||
| Q4 24 | 4.30× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.47× | -0.79× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
