American Tower Corporation: Difference between revisions
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{{Infobox company | |||
| name = American Tower Corporation | |||
| logo = American Tower Corporation logo.svg | |||
| type = [[Public company]] | |||
| traded_as = {{ubl|{{NYSE|AMT}}|[[S&P 100]] component|[[S&P 500]] component}} | |||
| founded = {{start date and age|1995}} | |||
| hq_location_city = [[Boston]], Massachusetts | |||
| hq_location_country = United States | |||
| key_people = Tom Bartlett ([[Chairman]], [[CEO]] and [[President (corporate title)|President]]) | |||
| industry = {{ubl|[[Real estate investment trust]]|Communication services}} | |||
| revenue = {{increase}} {{US$|9.4 billion|link=yes}} (2021) | |||
| operating_income = {{increase}} US$3.1 billion (2021) | |||
| net_income = {{increase}} US$2.6 billion (2021) | |||
| assets = {{increase}} US$69.9 billion (2021) | |||
| equity = {{increase}} US$9.1 billion (2021) | |||
| num_employees = 6,378 (2021) | |||
| subsid = [[CoreSite]] | |||
| website = {{URL|americantower.com}} | |||
| footnotes = <ref name="10K">{{Cite web |title=American Tower Corporation 2021 Form 10-K Annual Report |url=https://sec.report/Document/0001053507-22-000017/ |publisher=[[U.S. Securities and Exchange Commission]]}}</ref> | |||
}} | |||
American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. | |||
== Pitch == | |||
[https://youtu.be/35pTTwcWh9k AMT Stock Pitch - Sprint 4] | |||
== Team == | == Team == | ||
{| class="wikitable mw-collapsible" | {| class="wikitable mw-collapsible" | ||
Line 6: | Line 32: | ||
!Career Path | !Career Path | ||
|- | |- | ||
|'''Tom Bartlett''' | |[[File:Tom Bartlett.png|thumb|'''Tom Bartlett''']] | ||
|'''President and Chief Executive Officer''' | |'''President and Chief Executive Officer''' | ||
| | | | ||
Line 17: | Line 43: | ||
* Affiliations: Member of the World Economic Forum’s Information and Communications Technologies (ICT) Board of Governors, NAREIT Executive Committee, and the Business Roundtable | * Affiliations: Member of the World Economic Forum’s Information and Communications Technologies (ICT) Board of Governors, NAREIT Executive Committee, and the Business Roundtable | ||
|- | |- | ||
|'''Ruth Dowling''' | |[[File:Ruth Dowling.png|thumb|'''Ruth Dowling''']] | ||
|'''Executive Vice President, Chief Administrative Officer, General Counsel and Secretary''' | |'''Executive Vice President, Chief Administrative Officer, General Counsel and Secretary''' | ||
| | | | ||
Line 26: | Line 52: | ||
* Led American Tower’s Global Remobilization Project Team during the pandemic | * Led American Tower’s Global Remobilization Project Team during the pandemic | ||
|- | |- | ||
|'''Sanjay Goel''' | |[[File:Sanjay Goel.png|thumb|'''Sanjay Goel''']] | ||
|'''Executive Vice President and President, Asia-Pacific''' | |'''Executive Vice President and President, Asia-Pacific''' | ||
| | | | ||
Line 34: | Line 60: | ||
* March 2021: Joined American Tower as Executive Vice President and President, Asia-Pacific | * March 2021: Joined American Tower as Executive Vice President and President, Asia-Pacific | ||
|- | |- | ||
|'''Edward Knapp''' | |[[File:Edward Knapp.png|thumb|'''Edward Knapp''']] | ||
|'''Senior Vice President and Chief Technology Officer''' | |'''Senior Vice President and Chief Technology Officer''' | ||
| | | | ||
Line 43: | Line 69: | ||
* Holds five granted U.S. patents and one pending application | * Holds five granted U.S. patents and one pending application | ||
|- | |- | ||
|'''Anthony Noble''' | |[[File:Anthony Noble.png|center|thumb|'''Anthony Noble''']] | ||
|'''Senior Vice President and Chief Strategy Officer''' | |'''Senior Vice President and Chief Strategy Officer''' | ||
| | | | ||
Line 51: | Line 77: | ||
* Involved in counselling and securing zoning approvals for various developments | * Involved in counselling and securing zoning approvals for various developments | ||
|- | |- | ||
|'''Colleen Richards Powell''' | |[[File:Colleen Richards Powell.png|thumb|'''Colleen Richards Powell''']] | ||
|'''Senior Vice President and Chief Diversity, Equity and Inclusion Officer''' | |'''Senior Vice President and Chief Diversity, Equity and Inclusion Officer''' | ||
| | | | ||
Line 60: | Line 86: | ||
* Active in various leadership and advisory roles | * Active in various leadership and advisory roles | ||
|- | |- | ||
|'''Olivier Puech''' | |[[File:Olivier Puech.png|thumb|'''Olivier Puech''']] | ||
|'''Executive Vice President and President, Latin America and EMEA''' | |'''Executive Vice President and President, Latin America and EMEA''' | ||
| | | | ||
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* October 2018: Appointed as Executive Vice President and President, Latin America and EMEA | * October 2018: Appointed as Executive Vice President and President, Latin America and EMEA | ||
|- | |- | ||
|'''Rod Smith''' | |[[File:Rod Smith.png|thumb|'''Rod Smith''']] | ||
|'''Executive Vice President, Chief Financial Officer and Treasurer''' | |'''Executive Vice President, Chief Financial Officer and Treasurer''' | ||
| | | | ||
Line 76: | Line 102: | ||
* Also held leadership positions at Nextel Communications | * Also held leadership positions at Nextel Communications | ||
|- | |- | ||
|'''Steven O. Vondran''' | |[[File:Steven O. Vondran.png|thumb|'''Steven O. Vondran''']] | ||
|'''Executive Vice President and President, U.S. Tower Division''' | |'''Executive Vice President and President, U.S. Tower Division''' | ||
| | | | ||
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* August 2018: Appointed Senior Vice President and General Counsel for U.S. Tower Division | * August 2018: Appointed Senior Vice President and General Counsel for U.S. Tower Division | ||
|} | |} | ||
All the images and data has been taken from the AMT website.[https://www.americantower.com/company/leadership-team/index.html <sup><nowiki>[5]</nowiki></sup>] | |||
== Market == | == Market == | ||
Line 94: | Line 117: | ||
=== Total Addressable Market === | === Total Addressable Market === | ||
Here, the total addressable market (TAM) is the global commercial real estate market which, based on a number of assumptions and in terms of revenue, was valued at $35.0 trillion in 2022.<ref><nowiki>https://www.statista.com/statistics/1189630/commercial-real-estate-market-size-global/#statisticContainer</nowiki> | Here, the total addressable market (TAM) is the global commercial real estate market which, based on a number of assumptions and in terms of revenue, was valued at $35.0 trillion in 2022.<ref><nowiki>https://www.statista.com/statistics/1189630/commercial-real-estate-market-size-global/#statisticContainer</nowiki> | ||
</ref> | </ref> | ||
Line 129: | Line 151: | ||
=== Competitors === | === Competitors === | ||
{| class="wikitable" | |||
!Company Name | |||
!Logo | |||
!HQ | |||
!Founding Year | |||
!No. of Towers (excl. Sites) | |||
!Revenue (FY 2022) | |||
!Market Cap. | |||
!Operating Regions | |||
|- | |||
|American Tower | |||
|[[File:American tower logo.png|thumb]] | |||
|Boston, US | |||
|1995 | |||
|245K | |||
|$10.7B | |||
|$89.5B | |||
|Worldwide | |||
|- | |||
|SBA Communications | |||
|[[File:Sba comms logo.png|thumb]] | |||
|Boca Raton, US | |||
|1989 | |||
|39K | |||
|$2.6B | |||
|$24.8B | |||
|Americas, South Africa | |||
|- | |||
|Crown Castle | |||
|[[File:Crown castle logo.png|thumb]] | |||
|Houston, US | |||
|1994 | |||
|40K | |||
|$7B | |||
|$49.5B | |||
|USA | |||
|- | |||
|Helios Towers | |||
|[[File:Helios towers logo.png|thumb]] | |||
|London, GB | |||
|2009 | |||
|13.8K | |||
|$0.56B | |||
|$0.88B | |||
|Africa and Middle East | |||
|- | |||
|China Tower | |||
|[[File:China towers logo.png|thumb]] | |||
|Beijing, CN | |||
|1993 | |||
|2006K | |||
|$12.8B (¥92.2B) | |||
|$23.16B | |||
|China | |||
|} | |||
==== Competitive Advantage: ==== | |||
American Towers is one of the only to provide data centre services in addition its tower-based infrastructure offerings. | |||
==== Occupancy Rate: ==== | |||
American Towers has an occupancy rate of 84.3%. This indicates the ratio of its assets which are currently being used, and the proportion of assets which are wasted/unused. | |||
<ref>craft.co</ref> <ref><nowiki>https://www.digitaljournal.com/pr/news/newsmantraa/telecom-towers-market-2023-is-booming-with-top-key-players-china-tower-corporation-american-tower-corporation-mer-sba-communications-crown-castle</nowiki> </ref> <ref><nowiki>https://www.coherentmarketinsights.com/market-insight/telecom-towers-market-2826#</nowiki> | |||
</ref> | </ref> | ||
== Finance == | == Finance == | ||
<blockquote>Sources:</blockquote>[https://stockanalysis.com/stocks/amt/financials/ StockAnalysis] | <blockquote>Sources:</blockquote>[https://stockanalysis.com/stocks/amt/financials/ StockAnalysis] | ||
Line 145: | Line 222: | ||
== Valuation == | == Valuation == | ||
=== DCF === | |||
<u>Assumptions</u> | |||
* Perpetual Growth Rate: 2.5% | |||
* 10% Market Return: aligning with the S&P 500 return | |||
* Fund For Operations(FFO) replaces EBITDA since it gives a more accurate representation of REIT's PnL: | |||
<math display="block">FFO = Net \ Income + Depreciation + Amortisation + Loss - Gain \ on \ sale \ of \ Assets - Interest \ Income</math> | |||
Cash Flow & Income Statement Items | |||
[[File:Amt-dcf.jpg|frameless|1792x1792px]] | |||
<u>WACC</u> | |||
[[File:Amt-wacc.png|frameless|408x408px]] | |||
<u>Sensitivity Analysis</u> | |||
[[File:Amt-dcf-sensitivity.png|frameless|503x503px]] | |||
<u>Result</u> | |||
[[File:Amt-dcf-upside.png|center|thumb|813x813px]]<u>Sanity Check</u>: Geometric Brownian Motion Simulation | |||
Average log return: 7%; Annualised volatility: 30% | |||
[[File:Amt-dcf-gbm.png|none|thumb|1400x1400px|<math display="inline">P(price>222.75)=0.49</math>]] | |||
=== Trading Comp === | |||
<u>Assumptions</u> | |||
AMT, compared to its peers, operates at lower multiples with a significant market cap, therefore using the lower quartile and min of the multiples is more realistic in terms of modelling. | |||
[[File:Amt-comp-1.png|frameless|1800x1800px]] | |||
[[File:Amt-comp-2.png|frameless|1700x1700px]]<u>Result</u> | |||
[[File:Amt-comp-3.png|frameless|734x734px]] | |||
== Risk == | |||
'''<u>Risks related to Ability to Sell:</u>''' | |||
* A significant decrease in leasing demand for American Tower communications infrastructure would materially and adversely affect their business and operating results, and this demand cannot be controlled | |||
* A substantial portion of American Tower's current and projected future revenue is derived from a small number of customers, and the company is sensitive to adverse changes in the creditworthiness and financial strength of our customers | |||
* With increasing competition within the same industry, American Tower's revenue may be materially and adversely affected | |||
* American Tower's ability to achieve their return on investment criteria could be adversely affected by competition for assets | |||
* American Tower's costs could increase and their revenues could decrease due to perceived health risks from radio emissions, especially if these perceived risks are substantiated | |||
'''<u>Risks related to Finance & Corporate:</u>''' | |||
* American Tower's growth, revenue and ability to generate positive cash flows could be materially and adversely affected if their customers consolidate their operations, exit their businesses or share site infrastructure to a significant degree | |||
* American Tower's expansion initiatives involve a number of risks and uncertainties, including those related to integrating acquired or leased assets, that could adversely affect their operating results, disrupt their operations or expose them to additional risk | |||
* American Tower's leverage and debt service obligations, including during a rising interest rates environment, may materially and adversely affect their ability to raise additional financing to fund capital expenditures, future growth and expansion initiatives and to satisfy their distribution requirements | |||
* Restrictive covenants in the agreements related to their: securitisation transactions, credit facilities and debt securities could materially and adversely affect their business by limiting flexibility, and may be prohibited from paying dividends on their common stock, which may jeopardise American Tower's qualification for taxation as a REIT | |||
* The transition to SOFR based loans may adversely affect American Tower's cost to obtain financing | |||
* Rising inflation may adversely affect American Tower by increasing costs beyond what they can recover through price increases | |||
'''<u>Risks related to Legal and Regulatory:</u>''' | |||
* American Tower's business, and that of their customers, is subject to laws, regulations and administrative and judicial decisions, and changes thereto, that could restrict their ability to operate our business as they currently do or impact their competitive landscape | |||
* If American Tower fail to remain qualified for taxation as a REIT, they will be subject to tax at corporate income tax rates, which may substantially reduce funds otherwise available, and even if they qualify for taxation as a REIT, they may face tax liabilities that impact earnings and available cash flow | |||
* Complying with REIT requirements may limit American Tower's flexibility or cause us to forego otherwise attractive opportunities | |||
* American Tower could have liability under environmental and occupational safety and health laws | |||
* If American Tower are unable to protect their rights to the land under our towers and buildings in which their data centers are located, it could adversely affect their business and operating results | |||
* If American Tower are unable or choose not to exercise their rights to purchase towers that are subject to lease and sublease agreements at the end of the applicable period, their cash flows derived from those towers will be eliminated | |||
'''<u>Risks related to Tech & Innovation:</u>''' | |||
* New technologies, changes, or lack thereof, in American Tower's or a customer’s business model could make their communications infrastructure leasing business less desirable and result in decreasing revenues and operating results | |||
* If American Tower, or third parties on which they rely, experience technology failures, including cybersecurity incidents or the loss of personally identifiable information, they may incur substantial costs and suffer other negative consequences, which may include reputational damage | |||
'''<u>Risks related to Macro & Political Reasons:</u>''' | |||
* American Tower's foreign operations are subject to economic, political and other risks that could materially and adversely affect their revenues or financial position, including risks associated with fluctuations in foreign currency exchange rates | |||
* American Tower may be adversely affected by regulations related to climate change | |||
* American Tower's towers, fiber networks, data centers or computer systems may be affected by natural disasters (including as a result of climate change) and other unforeseen events for which their insurance may not provide adequate coverage or result in increased insurance premiums | |||
In the most recent earnings report American Tower disclosed 24 risk factors, two more since last quarter's report, including the following risk distributions: | |||
{| class="wikitable" | |||
|+ | |||
!Risk Distribution | |||
!Description | |||
!Risks | |||
!Overall Percentage | |||
|- | |||
|'''Ability to sell''' | |||
|Risks related to the company’s ability to sell goods and services | |||
|'''Demand - 13%''' | |||
Competition - 8% | |||
Sales & Marketing 4% | |||
Brand / Reputation 0% | |||
|25% | |||
|- | |||
|'''Finance & Corporate''' | |||
|Financial and accounting risks. Risks related to the execution of corporate activity and strategy | |||
|'''Debt & Financing - 17%'''Corporate Activity and Growth - 4% | |||
Share Price & Shareholder Rights - 0% | |||
Accounting & Financial Operations - 0% | |||
|20.8% | |||
|- | |||
|'''Legal & Regulatory''' | |||
|Litigation, compliance, new legislation, and taxation risks | |||
|'''Regulation - 8%'''Environmental / Social - 8% | |||
Taxation & Government Incentives - 4% | |||
Litigation & Legal Liabilities - 0% | |||
|20.8% | |||
|- | |||
|'''Tech & Innovation''' | |||
|Risks related to the company’s reliance on technology and ability to make innovative products | |||
|'''Technology - 8%'''Trade secrets - 4% | |||
Innovation - 0% | |||
Cyber Security - 0% | |||
|12.5% | |||
|- | |||
|'''Macro & Political''' | |||
|Risks related to catastrophic events or geopolitical conditions that may disrupt the company’s business | |||
|'''Economy & Political Environment - 4%'''Natural and Human Disruptions - 4% | |||
Capital Markets - 4% | |||
International Operations - 0% | |||
|12.5% | |||
|- | |||
|'''Production''' | |||
|Risks related to the company’s ability to manufacture goods and services | |||
|'''Cost - 8%'''Manufacturing - 0% | |||
Employment / Personnel - 0% | |||
Supply Chain - 0% | |||
|8.3% | |||
|} | |||
== References == | |||
__INDEX__ | __INDEX__ | ||
<references />5. ↑ <nowiki>https://www.americantower.com/company/leadership-team/index.html</nowiki> | |||
6. https://www.tipranks.com/stocks/amt/risk-factors | |||
7. https://americantower.gcs-web.com/static-files/01aa59a6-d202-4bcf-b8d6-8ef19df4c3ef |
Latest revision as of 09:34, 16 August 2023
Type | Public company |
---|---|
Industry |
|
Founded | 1995 |
Headquarters | Boston, Massachusetts , United States |
Key people | Tom Bartlett (Chairman, CEO and President) |
Revenue | US$9.4 billion (2021) |
US$3.1 billion (2021) | |
US$2.6 billion (2021) | |
Total assets | US$69.9 billion (2021) |
Total equity | US$9.1 billion (2021) |
Number of employees | 6,378 (2021) |
Subsidiaries | CoreSite |
Website |
|
Footnotes / references [1] |
American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites.
PitchEdit
TeamEdit
Member | Current Role | Career Path |
---|---|---|
President and Chief Executive Officer |
| |
Executive Vice President, Chief Administrative Officer, General Counsel and Secretary |
| |
Executive Vice President and President, Asia-Pacific |
| |
Senior Vice President and Chief Technology Officer |
| |
Senior Vice President and Chief Strategy Officer |
| |
Senior Vice President and Chief Diversity, Equity and Inclusion Officer |
| |
Executive Vice President and President, Latin America and EMEA |
| |
Executive Vice President, Chief Financial Officer and Treasurer |
| |
Executive Vice President and President, U.S. Tower Division |
|
All the images and data has been taken from the AMT website.[5]
MarketEdit
Total Addressable MarketEdit
Here, the total addressable market (TAM) is the global commercial real estate market which, based on a number of assumptions and in terms of revenue, was valued at $35.0 trillion in 2022.[2]
Serviceable Available MarketEdit
Here, the serviceable available market (SAM) is the global telecom tower market which, based on a number of assumptions and in terms of revenue, is valued at $50.4 billion in 2022.
Fastest Growing RegionEdit
Asia-Pacific
Largest RegionEdit
Asia-Pacific
Market DriversEdit
- Increase in demand for highspeed internet services across the world.
- Digital transformation of businesses.
- Growing adoption of IoT-based devices.
- Launch of 5G connectivity.
Market TrendsEdit
- Development and deployment of green and sustainable towers
- Solar powered towers
- Energy efficient construction and installation methods
- Infrastructure sharing between telecom providers (tower sharing and tower leasing)
- Lowers capital investment
- Boosts operational efficiencies
- “Smart” towers
- Remote monitoring
- Predictive maintenance
CompetitorsEdit
Company Name | Logo | HQ | Founding Year | No. of Towers (excl. Sites) | Revenue (FY 2022) | Market Cap. | Operating Regions |
---|---|---|---|---|---|---|---|
American Tower | Boston, US | 1995 | 245K | $10.7B | $89.5B | Worldwide | |
SBA Communications | Boca Raton, US | 1989 | 39K | $2.6B | $24.8B | Americas, South Africa | |
Crown Castle | Houston, US | 1994 | 40K | $7B | $49.5B | USA | |
Helios Towers | London, GB | 2009 | 13.8K | $0.56B | $0.88B | Africa and Middle East | |
China Tower | Beijing, CN | 1993 | 2006K | $12.8B (¥92.2B) | $23.16B | China |
Competitive Advantage:Edit
American Towers is one of the only to provide data centre services in addition its tower-based infrastructure offerings.
Occupancy Rate:Edit
American Towers has an occupancy rate of 84.3%. This indicates the ratio of its assets which are currently being used, and the proportion of assets which are wasted/unused. [4] [5] [6]
FinanceEdit
Sources:
ValuationEdit
DCFEdit
Assumptions
- Perpetual Growth Rate: 2.5%
- 10% Market Return: aligning with the S&P 500 return
- Fund For Operations(FFO) replaces EBITDA since it gives a more accurate representation of REIT's PnL:
Cash Flow & Income Statement Items
WACC
Sensitivity Analysis
Result
Sanity Check: Geometric Brownian Motion Simulation
Average log return: 7%; Annualised volatility: 30%
Trading CompEdit
Assumptions
AMT, compared to its peers, operates at lower multiples with a significant market cap, therefore using the lower quartile and min of the multiples is more realistic in terms of modelling.
RiskEdit
Risks related to Ability to Sell:
- A significant decrease in leasing demand for American Tower communications infrastructure would materially and adversely affect their business and operating results, and this demand cannot be controlled
- A substantial portion of American Tower's current and projected future revenue is derived from a small number of customers, and the company is sensitive to adverse changes in the creditworthiness and financial strength of our customers
- With increasing competition within the same industry, American Tower's revenue may be materially and adversely affected
- American Tower's ability to achieve their return on investment criteria could be adversely affected by competition for assets
- American Tower's costs could increase and their revenues could decrease due to perceived health risks from radio emissions, especially if these perceived risks are substantiated
Risks related to Finance & Corporate:
- American Tower's growth, revenue and ability to generate positive cash flows could be materially and adversely affected if their customers consolidate their operations, exit their businesses or share site infrastructure to a significant degree
- American Tower's expansion initiatives involve a number of risks and uncertainties, including those related to integrating acquired or leased assets, that could adversely affect their operating results, disrupt their operations or expose them to additional risk
- American Tower's leverage and debt service obligations, including during a rising interest rates environment, may materially and adversely affect their ability to raise additional financing to fund capital expenditures, future growth and expansion initiatives and to satisfy their distribution requirements
- Restrictive covenants in the agreements related to their: securitisation transactions, credit facilities and debt securities could materially and adversely affect their business by limiting flexibility, and may be prohibited from paying dividends on their common stock, which may jeopardise American Tower's qualification for taxation as a REIT
- The transition to SOFR based loans may adversely affect American Tower's cost to obtain financing
- Rising inflation may adversely affect American Tower by increasing costs beyond what they can recover through price increases
Risks related to Legal and Regulatory:
- American Tower's business, and that of their customers, is subject to laws, regulations and administrative and judicial decisions, and changes thereto, that could restrict their ability to operate our business as they currently do or impact their competitive landscape
- If American Tower fail to remain qualified for taxation as a REIT, they will be subject to tax at corporate income tax rates, which may substantially reduce funds otherwise available, and even if they qualify for taxation as a REIT, they may face tax liabilities that impact earnings and available cash flow
- Complying with REIT requirements may limit American Tower's flexibility or cause us to forego otherwise attractive opportunities
- American Tower could have liability under environmental and occupational safety and health laws
- If American Tower are unable to protect their rights to the land under our towers and buildings in which their data centers are located, it could adversely affect their business and operating results
- If American Tower are unable or choose not to exercise their rights to purchase towers that are subject to lease and sublease agreements at the end of the applicable period, their cash flows derived from those towers will be eliminated
Risks related to Tech & Innovation:
- New technologies, changes, or lack thereof, in American Tower's or a customer’s business model could make their communications infrastructure leasing business less desirable and result in decreasing revenues and operating results
- If American Tower, or third parties on which they rely, experience technology failures, including cybersecurity incidents or the loss of personally identifiable information, they may incur substantial costs and suffer other negative consequences, which may include reputational damage
Risks related to Macro & Political Reasons:
- American Tower's foreign operations are subject to economic, political and other risks that could materially and adversely affect their revenues or financial position, including risks associated with fluctuations in foreign currency exchange rates
- American Tower may be adversely affected by regulations related to climate change
- American Tower's towers, fiber networks, data centers or computer systems may be affected by natural disasters (including as a result of climate change) and other unforeseen events for which their insurance may not provide adequate coverage or result in increased insurance premiums
In the most recent earnings report American Tower disclosed 24 risk factors, two more since last quarter's report, including the following risk distributions:
Risk Distribution | Description | Risks | Overall Percentage |
---|---|---|---|
Ability to sell | Risks related to the company’s ability to sell goods and services | Demand - 13%
Competition - 8% Sales & Marketing 4% Brand / Reputation 0% |
25% |
Finance & Corporate | Financial and accounting risks. Risks related to the execution of corporate activity and strategy | Debt & Financing - 17%Corporate Activity and Growth - 4%
Share Price & Shareholder Rights - 0% Accounting & Financial Operations - 0% |
20.8% |
Legal & Regulatory | Litigation, compliance, new legislation, and taxation risks | Regulation - 8%Environmental / Social - 8%
Taxation & Government Incentives - 4% Litigation & Legal Liabilities - 0% |
20.8% |
Tech & Innovation | Risks related to the company’s reliance on technology and ability to make innovative products | Technology - 8%Trade secrets - 4%
Innovation - 0% Cyber Security - 0% |
12.5% |
Macro & Political | Risks related to catastrophic events or geopolitical conditions that may disrupt the company’s business | Economy & Political Environment - 4%Natural and Human Disruptions - 4%
Capital Markets - 4% International Operations - 0% |
12.5% |
Production | Risks related to the company’s ability to manufacture goods and services | Cost - 8%Manufacturing - 0%
Employment / Personnel - 0% Supply Chain - 0% |
8.3% |
ReferencesEdit
- ↑
- ↑ https://www.statista.com/statistics/1189630/commercial-real-estate-market-size-global/#statisticContainer
- ↑ https://www.americantower.com/Assets/beta.americantower.com/uploads/images/company/GlobalPresenceMap2023-1.png
- ↑ craft.co
- ↑ https://www.digitaljournal.com/pr/news/newsmantraa/telecom-towers-market-2023-is-booming-with-top-key-players-china-tower-corporation-american-tower-corporation-mer-sba-communications-crown-castle
- ↑ https://www.coherentmarketinsights.com/market-insight/telecom-towers-market-2826#
5. ↑ https://www.americantower.com/company/leadership-team/index.html
6. https://www.tipranks.com/stocks/amt/risk-factors
7. https://americantower.gcs-web.com/static-files/01aa59a6-d202-4bcf-b8d6-8ef19df4c3ef