Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is American Tower Corporation (AMT) Halal?

FAIL

American Tower Corporation · NYSE: AMT · Real Estate

The short answer

No — American Tower Corporation (AMT) fails this Shariah stock screen at the financial gate. Its Q2 2026 10-Q reports interest-bearing debt of $37,189.6M — current portion of long-term obligations $5,226.5M plus long-term obligations $31,963.1M — against a market cap of about $75.1B ($161.06 close on October 1, 2026; 466,084,820 shares outstanding). Debt divided by market cap is about 49.55%, far above the ~33% ceiling. The business gate passes: American Tower is a REIT whose primary business is leasing space on wireless communications sites and data centers (97% of FY2025 revenue), with no haram segment disclosed in the 10-K. Interest income of $134.0M is about 1.26% of FY2025 revenue ($10,644.6M), below the 5% ceiling. Both third-party screeners that cover AMT decline to certify it: Zoya flags it not Shariah-compliant and Musaffa rates it not halal (October 2026); no ShariaPortfolio rating was found — honestly reported as absent, not invented.

Gate 1 — Business activity: PASS

American Tower Corporation (NYSE: AMT), headquartered in Boston, Massachusetts, is one of the largest global real estate investment trusts and a leading independent owner, operator and developer of multitenant communications real estate, per its FY2025 10-K Item 1. Its primary business is leasing space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries — property operations (tower leasing plus a portfolio of highly interconnected U.S. data center facilities) accounted for 97% of total revenues for the year ended December 31, 2025. It also offers tower-related services in the U.S. (site application, zoning and permitting, structural and mount analyses, construction management and program management) and leases data-center space to enterprises, network operators, cloud providers and service providers. The 10-K discloses no haram business segment — no alcohol, gambling, tobacco or interest-based lending operations; rental income from communications real estate is the core of the business. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: FAIL

Per American Tower's Q2 2026 10-Q consolidated balance sheet (June 30, 2026), interest-bearing debt was $37,189.6M — current portion of long-term obligations $5,226.5M plus long-term obligations $31,963.1M (senior notes, credit-facility borrowings and securitized debt, per the debt notes). Against a market cap of about $75.1B ($161.06 close on October 1, 2026; 466,084,820 shares outstanding per the FY2025 10-K cover), debt ÷ market cap is about 49.55%, far above the ~33% ceiling. Cash and cash equivalents of $1,762.5M plus restricted cash of $130.1M total $1,892.6M — about 2.52% of market cap. The ratio is so far over the ceiling that share-count precision does not change the outcome. Gate 2 fails. Facts only.

Gate 3 — Non-compliant income: PASS

American Tower's FY2025 10-K (fiscal year ended December 31, 2025) discloses interest income of $134.0M as a separate line in its consolidated statements of operations, against total operating revenues of $10,644.6M (property revenue $10,305.0M plus services revenue $339.6M) — about 1.26% of revenue, below the 5% non-compliant income ceiling. Gate 3 passes. This screen fails at Gate 2 (debt ratio), not on income purity. Facts only.

Key figures used

Frequently asked questions

What does American Tower do?

American Tower Corporation (NYSE: AMT), based in Boston, Massachusetts, is one of the largest global real estate investment trusts (REITs) and a leading independent owner, operator and developer of multitenant communications real estate. Per its FY2025 10-K Item 1, its primary business is leasing space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in other industries — property operations (including a U.S. data-center portfolio) accounted for 97% of 2025 total revenues. It also offers tower-related services in the U.S. (site application, zoning and permitting, structural and mount analyses, construction management, program management) and leases data-center space to enterprises, network operators and cloud providers. Its stock has been listed on the NYSE under ticker AMT for decades; a live quote confirms it still trades there.

Why does American Tower fail this Shariah stock screen?

American Tower fails at the financial-structure gate, not the business gate. Its Q2 2026 10-Q balance sheet (June 30, 2026) reports interest-bearing debt of $37,189.6M — current portion of long-term obligations $5,226.5M plus long-term obligations $31,963.1M — against a market cap of about $75.1B ($161.06 close on October 1, 2026; 466,084,820 shares outstanding per the FY2025 10-K cover). Debt divided by market cap is about 49.55%, far above the ~33% ceiling, so Gate 2 fails and the screen fails. The business gate passes (REIT rental income from communications infrastructure; no haram activity disclosed in the 10-K) and interest income of $134.0M is about 1.26% of FY2025 revenue ($10,644.6M), below the 5% ceiling. Both third-party screeners that cover AMT decline to certify it — Zoya flags it not Shariah-compliant and Musaffa rates it not halal as of October 2026. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

What is American Tower's interest-bearing debt ratio?

Per American Tower's Q2 2026 10-Q balance sheet (June 30, 2026), interest-bearing debt was $37,189.6M — current portion of long-term obligations $5,226.5M and long-term obligations $31,963.1M, including senior notes, credit-facility borrowings and securitized debt detailed in the debt notes. Against a market cap of about $75.1B ($161.06 close on October 1, 2026; 466,084,820 shares outstanding), debt divided by market cap is about 49.55% — far above the ~33% ceiling. Cash and cash equivalents of $1,762.5M plus restricted cash of $130.1M total $1,892.6M, about 2.52% of market cap. Gate 2 fails. Facts only.

What is American Tower's non-compliant income ratio?

American Tower's FY2025 10-K (fiscal year ended December 31, 2025) reports interest income of $134.0M as a separately disclosed line in its consolidated statements of operations, against total operating revenues of $10,644.6M (property revenue $10,305.0M plus services revenue $339.6M) — about 1.26% of revenue, below the 5% non-compliant income ceiling. Gate 3 passes; this screen fails at Gate 2 (debt ratio), not on income purity.

Do Zoya, Musaffa, or ShariaPortfolio cover American Tower?

Zoya covers AMT and flags it not Shariah-compliant (zoya.finance/stocks/amt; its page showed no as-of date at last crawl) — it does not rate American Tower halal. Note: Zoya's published interest-income figure for AMT appears to mix a nine-month figure with full-year revenue, so this page uses the filing figures instead. Musaffa covers AMT and classifies it not halal as of October 2026 (musaffa.com/stock/AMT/). No ShariaPortfolio screening page or rating for AMT was found — reported as absent, not invented. This page applies the screen directly from American Tower's own SEC filings and reports these positions honestly.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).