American Tower Corporation (AMT) vs Mastercard Incorporated (MA)
A side-by-side comparison of American Tower Corporation and Mastercard Incorporated 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 MA
growth of $100 · dividends reinvested · last 10yAMT vs MA: by the numbers
- •MA is the larger company ($499.20B vs $82.87B market cap).
- •MA converts more revenue to profit (46.34% vs 30.88% net margin).
- •MA grew revenue faster over the past five years (16.09% vs 4.95% CAGR).
- •AMT pays the higher dividend yield (4.04% vs 0.60%).
Metrics side by side
Valuation
| Metric | AMT | MA |
|---|---|---|
| P/E ratio | 24.46 | 31.31 |
| Forward P/E | 25.52 | 28.52 |
| P/S ratio | 7.57 | 14.23 |
| P/B ratio | 22.28 | 88.97 |
| EV / EBITDA | 18.15 | N/A |
| 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.
Profitability
| Metric | AMT | MA |
|---|---|---|
| Gross margin | 73.19% | 100.00% |
| Operating margin | 44.40% | 59.84% |
| Net margin | 30.88% | 46.34% |
| ROE | 90.83% | 289.73% |
| ROIC | 7.27% | N/A |
Dividends
| Metric | AMT | MA |
|---|---|---|
| Dividend yield | 4.04% | 0.60% |
| Payout ratio | 96.01% | 18.54% |
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.
Growth (annualized)
| Metric | AMT | MA |
|---|---|---|
| Revenue CAGR (5Y) | 4.95% | 16.09% |
| EPS CAGR (5Y) | 7.23% | 20.93% |
| FCF CAGR (5Y) | 6.23% | N/A |
| Total return CAGR (5Y) | -7.19% | 10.88% |
Frequently asked
- Which has grown faster, AMT or MA?
- Over the past five years, MA grew revenue faster — AMT at a 4.95% CAGR versus MA at 16.09%.
- Does AMT or MA pay a bigger dividend?
- AMT yields 4.04% and MA yields 0.60% based on trailing dividends and the latest price.
- Is AMT or MA more profitable?
- MA runs the higher net margin — AMT at 30.88% versus MA at 46.34%.
- How have AMT and MA total returns compared?
- Over the past 10 years, AMT delivered 7.31% and MA delivered 19.83% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
American Tower & Mastercard 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.