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American Tower vs Equinix: AMT and EQIX compared
American Tower is the larger company: $2.8B of revenue in its latest quarter (Q3 2026) against $2.6B for Equinix (Q3 2026). Equinix is growing faster (+11% against +2% a year earlier). American Tower is more profitable, with an operating margin of 45.6% against 23.3%.
Where the money goes: AMT and EQIX
American Tower (AMT) · Q3 2026
American Tower, Q3 2026: revenue $2.8B (+2% year over year), operating margin 45.6%, net earnings $766M, operating cash flow $1.4B. The chart follows the revenue to costs, profit and cash.
Equinix (EQIX) · Q3 2026
Equinix, Q3 2026: revenue $2.6B (+11% year over year), operating margin 23.3%, net earnings $489M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| American Tower (AMT) | Equinix (EQIX) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $2.8B | $2.6B |
| Revenue growth, Y/Y | +2% | +11% |
| Operating margin | 45.6% | 23.3% |
| Net earnings | $766M | $489M |
| Net margin | 27.5% | 19.0% |
| Operating cash flow | $1.4B | $1.2B |
| Free cash flow | $986M | — |
| Market value | $88.5B | $100.2B |
| P/E | 26.8× | 60.6× |
| Analysts’ mean target | $215.83 | $1234.88 |
Where the revenue comes from
American Tower
- U.S. & Canada: $1.3B (48%)
- Latin America: $460M (17%)
- Africa & APAC: $428M (15%)
- Data Centers: $313M (11%)
Equinix
- Recurring revenues: $2.4B (95%)
- Non-recurring revenues: $129M (5%)
Questions
Which is bigger, American Tower or Equinix?
American Tower is the larger company: $2.8B of revenue in its latest quarter (Q3 2026) against $2.6B for Equinix (Q3 2026).
Is American Tower or Equinix growing faster?
Equinix is growing faster (+11% against +2% a year earlier).
Which is more profitable, American Tower or Equinix?
American Tower is more profitable, with an operating margin of 45.6% against 23.3%.
More: American Tower earnings · how American Tower makes money · Equinix earnings · how Equinix makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 27, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.