American Tower Corporation (AMT) vs Equinix, Inc. (EQIX)
A side-by-side comparison of American Tower Corporation and Equinix, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 10, 2026. Differences are shown without an overall score or investment verdict.
Total return — AMT vs EQIX
growth of $100 · dividends reinvested · last 10yAMT vs EQIX: by the numbers
- •EQIX is the larger company ($102.39B vs $82.87B market cap).
- •AMT converts more revenue to profit (30.88% vs 15.60% net margin).
- •EQIX grew revenue faster over the past five years (9.17% vs 4.95% CAGR).
- •AMT pays the higher dividend yield (4.04% vs 1.92%).
Metrics side by side
Valuation
| Metric | AMT | EQIX |
|---|---|---|
| P/E ratio | 24.46 | 66.82 |
| Forward P/E | 25.52 | 60.31 |
| P/S ratio | 7.57 | 10.42 |
| P/B ratio | 22.28 | 7.12 |
| EV / EBITDA | 18.15 | 28.84 |
| FCF yield | 4.78% | N/A |
For REITs like American Tower Corporation, GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like Equinix, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | AMT | EQIX |
|---|---|---|
| Gross margin | 73.19% | 51.60% |
| Operating margin | 44.40% | 21.76% |
| Net margin | 30.88% | 15.60% |
| ROE | 90.83% | 10.66% |
| ROIC | 7.27% | 4.99% |
Dividends
| Metric | AMT | EQIX |
|---|---|---|
| Dividend yield | 4.04% | 1.92% |
| Payout ratio | 96.01% | 126.85% |
American Tower Corporation's payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Equinix, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | AMT | EQIX |
|---|---|---|
| Revenue CAGR (5Y) | 4.95% | 9.17% |
| EPS CAGR (5Y) | 7.23% | 26.73% |
| FCF CAGR (5Y) | 6.23% | N/A |
| Total return CAGR (5Y) | -7.19% | 6.02% |
Frequently asked
- Which has grown faster, AMT or EQIX?
- Over the past five years, EQIX grew revenue faster — AMT at a 4.95% CAGR versus EQIX at 9.17%.
- Does AMT or EQIX pay a bigger dividend?
- AMT yields 4.04% and EQIX yields 1.92% based on trailing dividends and the latest price.
- Is AMT or EQIX more profitable?
- AMT runs the higher net margin — AMT at 30.88% versus EQIX at 15.60%.
- How have AMT and EQIX total returns compared?
- Over the past 10 years, AMT delivered 7.31% and EQIX delivered 13.09% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
American Tower & Equinix appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 10, 2026.