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American Tower vs Digital Realty Trust: revenue, profit, margins and growth compared

American Tower brought in $10.6B of revenue in fiscal 2025, Digital Realty Trust $6.1B in fiscal 2025. Revenue changed by +5.1% at American Tower and +10.0% at Digital Realty Trust on the year before, so Digital Realty Trust grew faster. American Tower kept 23.8% of its revenue as net profit, Digital Realty Trust 21.4%.

Side by side, latest fiscal year

AMTDLR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$10.6B$6.1B
Revenue growth+5.1%+10.0%
Net income$2.5B$1.3B
Net margin23.8%21.4%
Free cash flow$3.8Bn/a
Free cash flow margin35.5%n/a
Earnings per share (diluted)$5.40$3.58
Cash$1.5B$3.5B
Debt$3.4Bn/a
Price to earnings31.349.9
Market value$78.8B$66.1B
Dividend yield3.98%n/a
Rank by revenue in sector#2 of 162 · Real estate#8 of 162 · Real estate

Over the years

Revenue
AMT FY2018: $7.4BAMT FY2019: $7.6BAMT FY2020: $8BAMT FY2021: $9.4BAMT FY2022: $9.6BAMT FY2023: $10BAMT FY2024: $10.1BAMT FY2025: $10.6BDLR FY2018: $3BDLR FY2019: $3.2BDLR FY2020: $3.9BDLR FY2021: $4.4BDLR FY2022: $4.7BDLR FY2023: $5.5BDLR FY2024: $5.6BDLR FY2025: $6.1BFY18FY19FY20FY21FY22FY23FY24FY25
AMT $10.6BDLR $6.1B
Net income
AMT FY2018: $1.2BAMT FY2019: $1.9BAMT FY2020: $1.7BAMT FY2021: $2.6BAMT FY2022: $1.8BAMT FY2023: $1.5BAMT FY2024: $2.3BAMT FY2025: $2.5BDLR FY2018: $331.2MDLR FY2019: $579.8MDLR FY2020: $356.4MDLR FY2021: $1.7BDLR FY2022: $377.7MDLR FY2023: $948.8MDLR FY2024: $602.5MDLR FY2025: $1.3BFY18FY19FY20FY21FY22FY23FY24FY25
AMT $2.5BDLR $1.3B
Net margin
AMT FY2018: 16.6%AMT FY2019: 24.9%AMT FY2020: 21.0%AMT FY2021: 27.4%AMT FY2022: 18.3%AMT FY2023: 14.8%AMT FY2024: 22.3%AMT FY2025: 23.8%DLR FY2018: 10.9%DLR FY2019: 18.1%DLR FY2020: 9.1%DLR FY2021: 38.6%DLR FY2022: 8.0%DLR FY2023: 17.3%DLR FY2024: 10.8%DLR FY2025: 21.4%FY18FY19FY20FY21FY22FY23FY24FY25
AMT 23.8%DLR 21.4%
Revenue growth
AMT FY2019: +1.9%AMT FY2020: +6.1%AMT FY2021: +16.4%AMT FY2022: +3.1%AMT FY2023: +3.8%AMT FY2024: +1.1%AMT FY2025: +5.1%DLR FY2019: +5.3%DLR FY2020: +21.6%DLR FY2021: +13.4%DLR FY2022: +6.0%DLR FY2023: +16.7%DLR FY2024: +1.4%DLR FY2025: +10.0%FY19FY20FY21FY22FY23FY24FY25
AMT +5.1%DLR +10.0%
Free cash flow
AMT FY2018: $2.8BAMT FY2019: $2.8BAMT FY2020: $2.8BAMT FY2021: $3.4BAMT FY2022: $1.8BAMT FY2023: $2.9BAMT FY2024: $3.7BAMT FY2025: $3.8BFY18FY19FY20FY21FY22FY23FY24FY25
AMT $3.8BDLR

Fiscal years as each company reports them; the two may end in different months.

Questions about American Tower and Digital Realty Trust

Which is bigger by revenue, American Tower or Digital Realty Trust?

American Tower is bigger by revenue: $10.6B in fiscal 2025, against $6.1B for Digital Realty Trust in fiscal 2025.

Which keeps more of its revenue as profit, American Tower or Digital Realty Trust?

American Tower had a net margin of 23.8% in fiscal 2025; Digital Realty Trust had 21.4% in fiscal 2025.

Which grew revenue faster, American Tower or Digital Realty Trust?

In their latest fiscal years revenue changed by +5.1% at American Tower and +10.0% at Digital Realty Trust.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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