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American Tower (FRA:A0T) Cyclically Adjusted PS Ratio : 9.37 (As of May. 21, 2024)


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What is American Tower Cyclically Adjusted PS Ratio?

As of today (2024-05-21), American Tower's current share price is €176.92. American Tower's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2024 was €18.88. American Tower's Cyclically Adjusted PS Ratio for today is 9.37.

The historical rank and industry rank for American Tower's Cyclically Adjusted PS Ratio or its related term are showing as below:

FRA:A0T' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 8.15   Med: 15.93   Max: 21.79
Current: 9.39

During the past years, American Tower's highest Cyclically Adjusted PS Ratio was 21.79. The lowest was 8.15. And the median was 15.93.

FRA:A0T's Cyclically Adjusted PS Ratio is ranked worse than
80.61% of 490 companies
in the REITs industry
Industry Median: 4.985 vs FRA:A0T: 9.39

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

American Tower's adjusted revenue per share data for the three months ended in Mar. 2024 was €5.575. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is €18.88 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


American Tower Cyclically Adjusted PS Ratio Historical Data

The historical data trend for American Tower's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

American Tower Cyclically Adjusted PS Ratio Chart

American Tower Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 19.44 16.99 18.88 11.84 10.91

American Tower Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 11.02 10.17 8.40 10.91 9.67

Competitive Comparison of American Tower's Cyclically Adjusted PS Ratio

For the REIT - Specialty subindustry, American Tower's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


American Tower's Cyclically Adjusted PS Ratio Distribution in the REITs Industry

For the REITs industry and Real Estate sector, American Tower's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where American Tower's Cyclically Adjusted PS Ratio falls into.



American Tower Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

American Tower's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=176.92/18.88
=9.37

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

American Tower's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2024 is calculated as:

For example, American Tower's adjusted Revenue per Share data for the three months ended in Mar. 2024 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=5.575/131.7762*131.7762
=5.575

Current CPI (Mar. 2024) = 131.7762.

American Tower Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201406 1.900 100.560 2.490
201409 2.012 100.428 2.640
201412 2.117 99.070 2.816
201503 2.436 99.621 3.222
201506 2.451 100.684 3.208
201509 2.582 100.392 3.389
201512 2.745 99.792 3.625
201603 2.705 100.470 3.548
201606 2.992 101.688 3.877
201609 3.139 101.861 4.061
201612 3.394 101.863 4.391
201703 3.513 102.862 4.500
201706 3.437 103.349 4.382
201709 3.258 104.136 4.123
201712 3.328 104.011 4.216
201803 3.221 105.290 4.031
201806 3.431 106.317 4.253
201809 3.445 106.507 4.262
201812 4.216 105.998 5.241
201903 3.609 107.251 4.434
201906 3.755 108.070 4.579
201909 3.979 108.329 4.840
201912 3.882 108.420 4.718
202003 4.046 108.902 4.896
202006 3.810 108.767 4.616
202009 3.830 109.815 4.596
202012 3.908 109.897 4.686
202103 4.063 111.754 4.791
202106 4.218 114.631 4.849
202109 4.565 115.734 5.198
202112 4.733 117.630 5.302
202203 5.283 121.301 5.739
202206 5.502 125.017 5.799
202209 5.780 125.227 6.082
202212 5.469 125.222 5.755
202303 5.537 127.348 5.730
202306 5.478 128.729 5.608
202309 5.653 129.860 5.736
202312 5.466 129.419 5.566
202403 5.575 131.776 5.575

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


American Tower  (FRA:A0T) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


American Tower Cyclically Adjusted PS Ratio Related Terms

Thank you for viewing the detailed overview of American Tower's Cyclically Adjusted PS Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.


American Tower (FRA:A0T) Business Description

Industry
Address
116 Huntington Avenue, 11th Floor, Boston, MA, USA, 02116
American Tower owns and operates more than 220,000 cell towers throughout the U.S., Asia, Latin America, Europe, and Africa. It also owns and/or operates 28 data centers in 10 U.S. markets after acquiring CoreSite. On its towers, the company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company operates more than 40,000 towers in the U.S., which accounted for roughly half of the company's total revenue in 2022. Outside the U.S., American Tower operates over 75,000 towers in India, almost 50,000 towers in Latin America (dominated by Brazil), 30,000 towers in Europe, and nearly 25,000 towers in Africa. American Tower operates as an REIT.

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