Filing Flows › Comparisons › WELL vs AMT
Welltower vs American Tower: WELL and AMT compared
Welltower is the larger company: $3.7B of revenue in its latest quarter (Q3 2026) against $2.8B for American Tower (Q3 2026). Welltower is growing faster (+38% against +2% a year earlier). American Tower is more profitable, with an operating margin of 45.6% against 9.1%.
Where the money goes: WELL and AMT
Welltower (WELL) · Q3 2026
Welltower, Q3 2026: revenue $3.7B (+38% year over year), operating margin 9.1%, net earnings $397M, operating cash flow $1.0B. The chart follows the revenue to costs, profit and cash.
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.
| Welltower (WELL) | American Tower (AMT) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $3.7B | $2.8B |
| Revenue growth, Y/Y | +38% | +2% |
| Operating margin | 9.1% | 45.6% |
| Net earnings | $397M | $766M |
| Net margin | 10.7% | 27.5% |
| Operating cash flow | $1.0B | $1.4B |
| Free cash flow | $655M | $986M |
| Market value | $185.3B | $88.5B |
| P/E | 106.7× | 26.8× |
| Analysts’ mean target | $261.64 | $215.83 |
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, Welltower or American Tower?
Welltower is the larger company: $3.7B of revenue in its latest quarter (Q3 2026) against $2.8B for American Tower (Q3 2026).
Is Welltower or American Tower growing faster?
Welltower is growing faster (+38% against +2% a year earlier).
Which is more profitable, Welltower or American Tower?
American Tower is more profitable, with an operating margin of 45.6% against 9.1%.
More: Welltower earnings · how Welltower makes money · American Tower earnings · how American Tower makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 27, 2026; 10-Q filed Oct 27, 2026). Fiscal quarters can end on different dates. Not investment advice.