# American Tower (AMT.US)

Canonical: https://gigainvestors.com/s/AMT

Analysis as of: 2026-10-16T07:26:30.180Z. Financial observations: FY1997–FY2026.

Listing currency: USD. Reporting currency: USD.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $181.36 per share; close as of 2026-10-15.

Estimated value: low $74.24 per share, central $84.04 per share, high $97.08 per share. Buy at or below the central value $84.04 per share. Valuation as of 2026-10-16T07:26:30.180Z; scenarios are not confidence intervals.

Expected annual return: 6.1% at the stated quote. About 6.1% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; US 10-year bond 5.1% + 4 points).

## Checklist

### understandable: pass

- 0 revenue declines in the last 10 years (informational)

- Financial history: 10 years

- Years with declining revenue: 0

- Years with a net loss: 0

- Operating margin variation: 0.19×

Chart: Operating margin; fiscal year observations.

- FY2017: 0.30×

- FY2018: 0.26×

- FY2019: 0.35×

- FY2020: 0.36×

- FY2021: 0.33×

- FY2022: 0.28×

- FY2023: 0.31×

- FY2024: 0.45×

- FY2025: 0.46×

- LTM to Jun 2026: 0.44×

### moat: fail

- ROIC median below threshold

- ROIC worst years below threshold (more than 1 bad year allowed)

- ROIC, median of available years: 9.5%

- ROIC, second-lowest year: 6.8%

- Typical minus recent gross margin: -0.4 pp

- Typical gross margin (annual median): 72.7%

- Recent gross margin (lower of latest and 3-year median): 73.2%

- Years with nonpositive capital: 0

- Capital spending / revenue: 15.2%

- ROIC including acquisitions, ten-year median: 6.4%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2017: 9.7%

- FY2018: 9.6%

- FY2019: 9.5%

- FY2020: 8.4%

- FY2021: 6.8%

- FY2022: 6.7%

- FY2023: 8.0%

- FY2024: 12.1%

- FY2025: 12.1%

- LTM to Jun 2026: 12.5%

### economics: pass

- Owner earnings / net income, 5-yr: 1.43×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: $15B

- Net income, five-year total: $11B

- Return on incremental invested capital: >100%

- Working capital / revenue, annual change: -0.2 pp

- Working capital / revenue, change between three-year averages: -2.7 pp

- Working capital / revenue, final three-year average: 5.6%

Chart: Annual owner cash / profit; fiscal year observations.

- FY2021: 1.37×

- FY2022: 1.84×

- FY2023: 1.87×

- FY2024: 1.24×

- FY2025: 1.14×

### management: pass

- Historical market-dollar context (not the management verdict): 2016 to 2025 (9 years)

- buybacks leaned toward cheaper years (informational)

- ROIC first 3 years vs last 3 years: 9.6% vs 12.1%

- Per-share earnings: 2.23 to 4.82 (three-year endpoint medians)

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 10-year annual growth: 1.0%

- Ordinary dilution, 5-year annual growth: 1.0%

- Market cap gain: $37B

- Cumulative retained earnings: -$4.0B

- Diluted shares, 10-year annual growth: 1.0%

- Diluted shares, 5-year annual growth: 1.0%

- $1 test, starting fiscal year: FY2016

- $1 test, ending fiscal year: FY2025

- Per-share value growth: 10.1%

- Per-share value change: $2.59

- Per-share value, starting three-year median: $2.23

- Per-share value, ending three-year median: $4.82

- Buybacks concentrated in cheaper years (correlation): 0.49

- Average buyback yield: 0.4%

- Buyback history: 6 years

- Debt-funded buybacks: No

- Acquisition spending: $21B

- Cumulative net income, 10 years: $18B

- ROIC, first three-year median: 9.6%

- ROIC, last three-year median: 12.1%

Chart: Earnings per share; fiscal year observations.

- FY2016: $2.23

- FY2017: $2.87

- FY2018: $2.79

- FY2019: $4.24

- FY2020: $3.79

- FY2021: $5.66

- FY2022: $3.82

- FY2023: $3.18

- FY2024: $4.82

- FY2025: $5.40

### accounting: pass

- Sloan accruals: -4.6%

- Receivables to sales index (DSRI): 1.08×

- Restructuring years, last five: 0

- Stock compensation / operating cash flow: 3.2%

- Earnings backed by cash: Yes

- Operating cash / earnings: 2.16×

- Accounting red flags: 0

- Goodwill and intangibles / equity: 7.33×

Chart: Sloan accruals; fiscal year observations.

- FY2016: -5.7%

- FY2017: -5.1%

- FY2018: -7.6%

- FY2019: -4.4%

- FY2020: -4.6%

- FY2021: -3.2%

- FY2022: -2.9%

- FY2023: -4.9%

- FY2024: -5.0%

- FY2025: -4.6%

## Holders

- [Chuck Akre](https://gigainvestors.com/AC): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Christopher Davis](https://gigainvestors.com/DAV): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Andrew Adams](https://gigainvestors.com/MPF): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 38% since Dec 2021 · "American Tower Sees 2026 Growth Trough Before 5G, AI and 6G Catalysts Lift Demand" (finance.yahoo.com, Sep 2026) · sales +2.8%

Story as of 2026-10-16T09:58:18.265Z; price observation 2026-10-15.

Price needs cash profits to grow 10.8% a year for ten years

- 2025-07-29: American Tower Sees Slightly Weaker US Growth As International Performance Strengthens ([finance.yahoo.com](https://finance.yahoo.com/news/american-tower-sees-slightly-weaker-180715060.html))

- 2026-02-24: American Tower posts upbeat revenue on strong leasing activity amid 5G, data-center growth ([finance.yahoo.com](https://finance.yahoo.com/news/american-tower-posts-upbeat-revenue-122621347.html))

- 2026-03-31: American Tower Refocuses On Europe As Cost Plan Targets Margin Gains ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/american-tower-refocuses-europe-cost-230735956.html))

- 2026-04-28: American Tower raises annual forecast on strong leasing demand, cloud adoption ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/american-tower-raises-annual-forecast-123541924.html))

- 2026-07-28: American Tower beats top-line and bottom-line estimates; raises FY26 outlook ([seekingalpha.com](https://seekingalpha.com/news/4619248-american-tower-beats-top-line-and-bottom-line-estimates-raises-fy26-outlook?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

- 2026-09-12: American Tower Sees 2026 Growth Trough Before 5G, AI and 6G Catalysts Lift Demand ([finance.yahoo.com](https://finance.yahoo.com/technology/articles/american-tower-sees-2026-growth-230156550.html))

### Sales · FY2025–2026

sales +2.8%; source https://www.sec.gov/Archives/edgar/data/1053507/000105350726000035/amt-20251231.htm; observed 2026-02-24.

- FY2017: $6.7B 

- FY2018: $7.4B 

- FY2019: $7.6B 

- FY2020: $8.0B 

- FY2021: $9.4B 

- FY2022: $9.6B 

- FY2023: $10B 

- FY2024: $10B 

- FY2025: $11B 

- FY2026: $11B 

### Gross margin · FY2026

gross margin 73.2%; source https://www.sec.gov/Archives/edgar/data/1053507/000105350726000035/amt-20251231.htm; observed 2026-02-24.

- FY2017: 69.2% 

- FY2018: 70.7% 

- FY2019: 70.8% 

- FY2020: 72.3% 

- FY2021: 71.3% 

- FY2022: 73.4% 

- FY2023: 74.4% 

- FY2024: 74.6% 

- FY2025: 73.7% 

- FY2026: 73.2% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in property rentals; annual sales are USD 10.6 billion.

- Source: https://www.sec.gov/Archives/edgar/data/1053507/000105350726000035/amt-20251231.htm (filed 2026-02-24); FY2025: revenue 10645100000; grossProfit 7843600000; margin = grossProfit / revenue.

### Why customers stay

Margins ranged from 73.7% to 74.6% during 2023–25; it earns 9.5% on its capital.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2023: grossProfit / revenue = 74.4%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2024: grossProfit / revenue = 74.6%.

- Source: https://www.sec.gov/Archives/edgar/data/1053507/000105350726000035/amt-20251231.htm (filed 2026-02-24); FY2025: grossProfit / revenue = 73.7%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); 10-year return on capital observations [[2017,0.09745303181109723],[2018,0.09628311785457964],[2019,0.09454146475267441],[2020,0.0844028037674168],[2021,0.06801183280724468],[2022,0.06725123366834804],[2023,0.08017693651667096],[2024,0.12094905003017942],[2025,0.12079684570566708],[2026,0.12485407948314575]]; median 0.09541229130362702. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 10 of 10 years; bought back USD 364.6 million of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2016: growth capex 0; upkeep 682505000; owner earnings 1799520000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2017: growth capex 0; upkeep 803600000; owner earnings 2151200000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2018: growth capex 0; upkeep 913200000; owner earnings 2434000000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2019: growth capex 0; upkeep 991300000; owner earnings 2674900000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2020: growth capex 0; upkeep 1031700000; owner earnings 2540747419.450192. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2021: growth capex 0; upkeep 1376700000; owner earnings 3523600000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2022: growth capex 0; upkeep 1873600000; owner earnings 3247300000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2023: growth capex 0; upkeep 1798100000; owner earnings 2771700000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); FY2024: growth capex 0; upkeep 1590000000; owner earnings 2789800000. Growth capex / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/1053507/000105350726000035/amt-20251231.htm (filed 2026-02-24); FY2025: growth capex 0; upkeep 1680400000; owner earnings 2877436964.047936. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); Dividend observations: [[2016,993241000],[2017,1164400000],[2018,1342400000],[2019,1603000000],[2020,1928200000],[2021,2271000000],[2022,2630400000],[2023,2949300000],[2024,3074900000],[2025,3157200000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1053507/000105350726000035/amt-20251231.htm (filed 2026-02-24); FY2025: cash repurchases 364600000 USD.

### Are managers owners

Insiders own 0.1% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); AMT.US SharesStats.PercentInsiders = 0.079 percentage points; cache date 2026-10-16.

### What could break it

"If we fail to remain qualified for taxation as a REIT" (SEC filing, Feb 2026)

- Source: https://www.sec.gov/Archives/edgar/data/1053507/000105350726000035/amt-20251231.htm (filed 2026-02-24); If we fail to remain qualified for taxation as a REIT

### What the price says

The price assumes cash profits grow 10.8% yearly over ten years; actual growth was 7.7%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); Ten-year compound average after fade. Initial solved rate 0.14315413657135923. Price 181.36; FX 1; discount 0.1; same standard ten-year fade to terminal 0.03. FY2015 owner earnings/share 2.9351701476306986 → FY2025 6.138440522590459. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $117.19 per share

- 2016-11: $102.27 per share

- 2016-12: $105.68 per share

- 2017-01: $103.50 per share

- 2017-02: $114.79 per share

- 2017-03: $121.54 per share

- 2017-04: $125.94 per share

- 2017-05: $131.19 per share

- 2017-06: $132.32 per share

- 2017-07: $136.33 per share

- 2017-08: $148.05 per share

- 2017-09: $136.68 per share

- 2017-10: $143.67 per share

- 2017-11: $143.93 per share

- 2017-12: $142.67 per share

- 2018-01: $147.70 per share

- 2018-02: $139.33 per share

- 2018-03: $145.34 per share

- 2018-04: $136.36 per share

- 2018-05: $138.37 per share

- 2018-06: $144.17 per share

- 2018-07: $148.24 per share

- 2018-08: $149.12 per share

- 2018-09: $145.30 per share

- 2018-10: $155.81 per share

- 2018-11: $164.49 per share

- 2018-12: $158.19 per share

- 2019-01: $172.84 per share

- 2019-02: $176.15 per share

- 2019-03: $197.06 per share

- 2019-04: $195.30 per share

- 2019-05: $208.77 per share

- 2019-06: $204.45 per share

- 2019-07: $211.62 per share

- 2019-08: $230.19 per share

- 2019-09: $221.13 per share

- 2019-10: $218.08 per share

- 2019-11: $214.03 per share

- 2019-12: $229.82 per share

- 2020-01: $231.74 per share

- 2020-02: $226.80 per share

- 2020-03: $217.75 per share

- 2020-04: $238.00 per share

- 2020-05: $258.17 per share

- 2020-06: $258.54 per share

- 2020-07: $261.39 per share

- 2020-08: $249.15 per share

- 2020-09: $241.73 per share

- 2020-10: $229.65 per share

- 2020-11: $231.20 per share

- 2020-12: $224.46 per share

- 2021-01: $227.36 per share

- 2021-02: $216.13 per share

- 2021-03: $239.06 per share

- 2021-04: $254.77 per share

- 2021-05: $255.46 per share

- 2021-06: $270.14 per share

- 2021-07: $282.80 per share

- 2021-08: $292.17 per share

- 2021-09: $265.41 per share

- 2021-10: $281.97 per share

- 2021-11: $262.48 per share

- 2021-12: $292.50 per share

- 2022-01: $251.50 per share

- 2022-02: $226.87 per share

- 2022-03: $251.22 per share

- 2022-04: $241.02 per share

- 2022-05: $256.13 per share

- 2022-06: $255.59 per share

- 2022-07: $270.83 per share

- 2022-08: $254.05 per share

- 2022-09: $214.70 per share

- 2022-10: $207.19 per share

- 2022-11: $221.25 per share

- 2022-12: $211.86 per share

- 2023-01: $223.39 per share

- 2023-02: $198.01 per share

- 2023-03: $204.34 per share

- 2023-04: $204.39 per share

- 2023-05: $184.44 per share

- 2023-06: $193.94 per share

- 2023-07: $190.31 per share

- 2023-08: $181.32 per share

- 2023-09: $164.45 per share

- 2023-10: $178.19 per share

- 2023-11: $208.78 per share

- 2023-12: $215.88 per share

- 2024-01: $195.65 per share

- 2024-02: $198.86 per share

- 2024-03: $197.59 per share

- 2024-04: $171.56 per share

- 2024-05: $195.74 per share

- 2024-06: $194.38 per share

- 2024-07: $220.40 per share

- 2024-08: $224.06 per share

- 2024-09: $232.56 per share

- 2024-10: $213.54 per share

- 2024-11: $209.00 per share

- 2024-12: $183.41 per share

- 2025-01: $184.95 per share

- 2025-02: $205.62 per share

- 2025-03: $217.60 per share

- 2025-04: $225.41 per share

- 2025-05: $214.65 per share

- 2025-06: $221.02 per share

- 2025-07: $208.39 per share

- 2025-08: $203.85 per share

- 2025-09: $192.32 per share

- 2025-10: $178.98 per share

- 2025-11: $181.27 per share

- 2025-12: $175.57 per share

- 2026-01: $179.28 per share

- 2026-02: $191.86 per share

- 2026-03: $172.58 per share

- 2026-04: $182.71 per share

- 2026-05: $186.96 per share

- 2026-06: $163.57 per share

- 2026-07: $173.36 per share

- 2026-08: $175.70 per share

- 2026-09: $163.69 per share

- 2026-10: $179.43 per share

## Annual estimated value (USD per share)

- FY2016: low $38.12 per share, central $43.16 per share, high $49.87 per share

- FY2017: low $45.46 per share, central $51.51 per share, high $59.57 per share

- FY2018: low $59.49 per share, central $67.37 per share, high $77.85 per share

- FY2019: low $63.06 per share, central $71.34 per share, high $82.36 per share

- FY2020: low $67.16 per share, central $75.93 per share, high $87.60 per share

- FY2021: low $75.99 per share, central $86.17 per share, high $99.71 per share

- FY2022: low $78.48 per share, central $89.06 per share, high $103.14 per share

- FY2023: low $80.15 per share, central $91.03 per share, high $105.50 per share

- FY2024: low $76.06 per share, central $86.36 per share, high $100.07 per share

- FY2025: low $71.31 per share, central $80.78 per share, high $93.39 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

Prior published observations retained from 2026-10-15T06:32:06.292Z where newer inputs omit a numeric field or fiscal period.

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1053507/000105350726000035/amt-20251231.htm); period 2025-12-31, filed 2026-02-24.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations

- [Chuck Akre](https://gigainvestors.com/AC): 29,254 AMT shares; USD 4,785,000 reported position value; 0.09% of portfolio; reduce; quarter 2026 Q2.
- [Christopher Davis](https://gigainvestors.com/DAV): 63,250 AMT shares; USD 10,346,000 reported position value; 0.04% of portfolio; reduce; quarter 2026 Q2.
- [Andrew Adams](https://gigainvestors.com/MPF): 2,020 AMT shares; USD 330,000 reported position value; 0% of portfolio; hold; quarter 2026 Q2.

# AMT — American Tower Corp.

Held by 3 investors · USD 15,461,000 total · 2026 Q2 · reported price USD 163.57 (split-adjusted).
Page: https://gigainvestors.com/s/AMT

## Holders (2026 Q2)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| William Von Mueffling (https://gigainvestors.com/cc) | USD 278,280,590 | 0.0% | sold |
| Christopher Davis (https://gigainvestors.com/DAV) | USD 10,346,000 | <0.1% | reduce -2.12% |
| Chuck Akre (https://gigainvestors.com/AC) | USD 4,785,000 | 0.1% | reduce -42.38% |
| Andrew Adams (https://gigainvestors.com/MPF) | USD 330,000 | 0.0% | hold |

## Total held by quarter

- 2009 Q4: USD 56,605,575 · 1 holder · USD 43.21
- 2010 Q1: USD 46,233,725 · 1 holder · USD 42.61
- 2010 Q2: USD 47,597,601 · 1 holder · USD 44.50
- 2010 Q3: USD 54,942,980 · 1 holder · USD 51.26
- 2010 Q4: USD 66,397,421 · 1 holder · USD 51.64
- 2011 Q1: USD 71,978,239 · 1 holder · USD 51.82
- 2011 Q2: USD 69,626,112 · 1 holder · USD 52.33
- 2011 Q3: USD 75,616,485 · 1 holder · USD 55.10
- 2011 Q4: USD 83,238,311 · 1 holder · USD 60.01
- 2012 Q1: USD 106,353,119 · 1 holder · USD 63.02
- 2012 Q2: USD 122,178,841 · 1 holder · USD 69.91
- 2012 Q3: USD 124,580,833 · 1 holder · USD 71.39
- 2012 Q4: USD 131,263,881 · 1 holder · USD 77.27
- 2013 Q1: USD 129,969,647 · 1 holder · USD 76.92
- 2013 Q2: USD 139,767,871 · 1 holder · USD 73.17
- 2013 Q3: USD 209,694,200 · 1 holder · USD 74.13
- 2013 Q4: USD 265,511,332 · 1 holder · USD 79.82
- 2014 Q1: USD 329,700,396 · 1 holder · USD 81.87
- 2014 Q2: USD 362,133,148 · 1 holder · USD 89.98
- 2014 Q3: USD 376,146,447 · 1 holder · USD 93.63
- 2014 Q4: USD 397,088,457 · 1 holder · USD 98.85
- 2015 Q1: USD 383,087,835 · 1 holder · USD 94.53
- 2015 Q2: USD 492,758,766 · 2 holders · USD 93.29
- 2015 Q3: USD 556,341,314 · 2 holders · USD 88.00
- 2015 Q4: USD 613,598,101 · 2 holders · USD 96.95
- 2016 Q1: USD 725,728,682 · 3 holders · USD 102.37
- 2016 Q2: USD 858,961,154 · 2 holders · USD 115.77
- 2016 Q3: USD 842,857,763 · 3 holders · USD 113.33
- 2016 Q4: USD 1,007,529,762 · 3 holders · USD 105.68
- 2017 Q1: USD 1,157,467,664 · 3 holders · USD 121.54
- 2017 Q2: USD 1,260,224,587 · 3 holders · USD 132.32
- 2017 Q3: USD 1,288,202,439 · 3 holders · USD 136.68
- 2017 Q4: USD 1,320,802,691 · 3 holders · USD 142.67
- 2018 Q1: USD 1,377,262,398 · 3 holders · USD 145.34
- 2018 Q2: USD 1,358,985,490 · 3 holders · USD 144.17
- 2018 Q3: USD 1,369,312,721 · 4 holders · USD 145.30
- 2018 Q4: USD 1,490,428,411 · 4 holders · USD 158.19
- 2019 Q1: USD 1,877,899,193 · 4 holders · USD 197.06
- 2019 Q2: USD 1,938,116,079 · 4 holders · USD 204.45
- 2019 Q3: USD 2,095,414,833 · 4 holders · USD 221.13
- 2019 Q4: USD 2,147,199,053 · 4 holders · USD 229.82
- 2020 Q1: USD 2,003,022,805 · 4 holders · USD 217.75
- 2020 Q2: USD 2,382,179,024 · 4 holders · USD 258.54
- 2020 Q3: USD 2,220,871,392 · 4 holders · USD 241.73
- 2020 Q4: USD 2,081,600,445 · 4 holders · USD 224.46
- 2021 Q1: USD 2,172,859,003 · 4 holders · USD 239.07
- 2021 Q2: USD 2,454,488,899 · 5 holders · USD 270.14
- 2021 Q3: USD 2,412,411,799 · 5 holders · USD 265.41
- 2021 Q4: USD 2,622,301,346 · 5 holders · USD 292.50
- 2022 Q1: USD 2,262,672,760 · 5 holders · USD 251.22
- 2022 Q2: USD 2,294,039,429 · 5 holders · USD 255.60
- 2022 Q3: USD 1,924,151,012 · 5 holders · USD 214.70
- 2022 Q4: USD 1,892,691,769 · 5 holders · USD 211.87
- 2023 Q1: USD 1,818,687,347 · 5 holders · USD 204.34
- 2023 Q2: USD 1,698,954,794 · 5 holders · USD 193.94
- 2023 Q3: USD 1,442,064,326 · 6 holders · USD 164.45
- 2023 Q4: USD 1,964,060,825 · 5 holders · USD 215.88
- 2024 Q1: USD 1,671,938,072 · 6 holders · USD 197.59
- 2024 Q2: USD 1,614,663,880 · 6 holders · USD 194.38
- 2024 Q3: USD 1,898,115,620 · 6 holders · USD 232.57
- 2024 Q4: USD 1,556,934,173 · 6 holders · USD 183.41
- 2025 Q1: USD 1,187,326,406 · 6 holders · USD 217.60
- 2025 Q2: USD 1,247,621,254 · 6 holders · USD 221.02
- 2025 Q3: USD 447,833,629 · 5 holders · USD 192.33
- 2025 Q4: USD 377,788,709 · 4 holders · USD 175.57
- 2026 Q1: USD 298,543,937 · 4 holders · USD 172.58
- 2026 Q2: USD 15,461,000 · 3 holders · USD 163.57