AMERICAN TOWER CORP /MA/ vs BROOKFIELD CORPORATION, two REIT stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
What is priced in: American Tower at 28.3 times earnings is priced as a cell-tower REIT with contracted, escalating leases, Brookfield at 84 as a diversified alternative-asset holding whose GAAP earnings understate its economic value. For both, reported net income is a poor guide, tower depreciation for AMT, mark-to-market and carried-interest timing for BN. AMT pays a 3.88% dividend on its tower cash flows and carries 0.6 turns of debt; Brookfield pays none listed here and shows a negative free-cash figure as it deploys capital. The pair prices a focused infrastructure REIT against a sprawling asset manager and owner; AMT's tenant leases are the steadier, more legible cash stream, Brookfield the harder-to-value compounder, and their multiples say the market treats them as different animals.
Comparison updated 2026-07-11.
| Metric | AMT | BN |
|---|---|---|
| Price | $175.33 | $42.87 |
| Market cap | $81.8B | $96.3B |
| Sector | REIT | REIT |
| Stage | Mature | Mature |
| P/E | 28.3 | 84.1 |
| P/B | 8.06 | 0.58 |
| P/S | 7.57 | 1.28 |
| EV/EBITDA | 17.9 | 7.7 |
| Revenue growth | +6.3% | +0.7% |
| Operating margin | 45.3% | — |
| Net margin | 27.8% | 4.3% |
| Return on equity | 29.6% | 1.9% |
| Return on assets | 4.8% | 0.6% |
| Return on invested capital | 25.6% | — |
| FCF yield | 4.6% | -3.9% |
| Dividend yield | 3.9% | — |
| Debt / equity | 0.60 | 0.00 |
| Current ratio | 0.30 | — |
| Altman Z (solvency) | 0.92 | 0.31 |
| Piotroski F (quality) | 7 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.