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American Tower vs Prologis: AMT and PLD compared
American Tower is the larger company: $2.8B of revenue in its latest quarter (Q3 2026) against $2.3B for Prologis (Q1 2026). Prologis is growing faster (+7% against +2% a year earlier). Prologis is more profitable, with an operating margin of 52.7% against 45.6%.
Where the money goes: AMT and PLD
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.
Prologis (PLD) · Q1 2026
Prologis, Q1 2026: revenue $2.3B (+7% year over year), operating margin 52.7%, net earnings $982M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
| American Tower (AMT) | Prologis (PLD) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q1 2026 |
| Revenue | $2.8B | $2.3B |
| Revenue growth, Y/Y | +2% | +7% |
| Operating margin | 45.6% | 52.7% |
| Net earnings | $766M | $982M |
| Net margin | 27.5% | 42.7% |
| Operating cash flow | $1.4B | $1.3B |
| Free cash flow | $986M | $524M |
| Market value | $88.5B | $122.2B |
| P/E | 26.8× | 30.8× |
| Analysts’ mean target | $215.83 | $152.07 |
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%)
Questions
Which is bigger, American Tower or Prologis?
American Tower is the larger company: $2.8B of revenue in its latest quarter (Q3 2026) against $2.3B for Prologis (Q1 2026).
Is American Tower or Prologis growing faster?
Prologis is growing faster (+7% against +2% a year earlier).
Which is more profitable, American Tower or Prologis?
Prologis is more profitable, with an operating margin of 52.7% against 45.6%.
More: American Tower earnings · how American Tower makes money · Prologis earnings · how Prologis makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 27, 2026; 10-Q filed Apr 30, 2026). Fiscal quarters can end on different dates. Not investment advice.