American Tower Corporation (NYSE:AMT) has produced strong growth over the last decade with earnings increasing at 18% per year and more growth is forecast for 2020. The company operates with solid profit margins and returns on equity. Over the last decade the company’s profit margins have averaged around 17% and its return on equity has averaged around 15%.

The company has a history of operating with fairly high debt levels. The long-term debt is currently $18.4 billion representing 56% of its total asset value. The company’s total debt represents 79% of its total asset value. These debt levels are a little high for my liking, but the company does have a history of operating successfully with high debt ratios. The reason I don’t like high debt levels is that companies find it more difficult to secure additional financing if needed. There’s also an increased risk of bankruptcy.

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