American Tower Corporation (REI — Earnings Quality Grade F
AMT · Real Estate
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 22 days, change +3 days YoY
AR growth 20.4% exceeds revenue growth 5.1%
Revenue 5.1%, CFFO 3.3%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 5.7% vs revenue 5.1%. Normal
SG&A/Gross Profit = 11.9%, excellent (<30%)
Gross margin 74.2%, change -0.4pp. Stable
Cash Flow Quality
CFFO/NI = 2.16. Profits backed by cash
FCF $3.8B, FCF/NI = 1.50
Accruals ratio = -4.6%. Low accruals
Cash $1.5B covers only 3% of debt $45.0B
Balance Sheet Health
Goodwill+Intangibles $26.8B = 733% of equity. Over 50%
Debt/EBITDA = 7.0x (>4x). Financial stress
Other assets grew 29.5% vs revenue 5.1%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 2% YoY. Normal
Manipulation Score
M-Score = -2.49 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score — Not Applicable
American Tower Corporation (REI is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-09