Get started

Financials · AAT

American Assets Trust Inc. (AAT) financials

For the twelve months ended Sep 30, 2026, American Assets Trust Inc. reported $444.44M of revenue and $24.40M of net income.

Revenue, TTM
$444.44M
Revenue growth, YoY
+1.1%
Net income, TTM
$24.40M
Net income growth, YoY
-67.3%
Net margin
5.5%
Cash
$89.61M
Total debt
$75.00M
P/E
54.56
P/S
3.00
Market cap
$1.33B
Annual revenue$436.20M
FY2016FY2025
Annual net income$55.65M
FY2016FY2025

AAT revenue and earnings growth

AAT revenueQ3 2026$114.28M

Quarter YoY
+4.3%
QoQ
+4.4%
FY YoY
-4.7%
5Y CAGR
+4.8%
10Y CAGR
+4.7%

AAT revenue was $114.28M in fiscal Q3 2026 (ended Sep 30, 2026), up 4.3% from a year earlier and up 4.4% from the prior quarter. For the full fiscal 2025 it was $436.20M, down 4.7% from fiscal 2024. Compound annual growth was +4.8% over 5 years and +4.7% over 10 years. It rose in 8 of the last 10 fiscal years.

AAT net incomeQ3 2026$7.73M

Quarter YoY
+71.3%
QoQ
+13.8%
FY YoY
-2.0%
5Y CAGR
+15.0%
10Y CAGR
+3.8%

AAT net income was $7.73M in fiscal Q3 2026 (ended Sep 30, 2026), up 71.3% from a year earlier and up 13.8% from the prior quarter. For the full fiscal 2025 it was $55.65M, down 2.0% from fiscal 2024. Compound annual growth was +15.0% over 5 years and +3.8% over 10 years. It rose in 5 of the last 10 fiscal years.

AAT EPSQ3 2026$0.13

Quarter YoY
+85.7%
FY YoY
-2.1%
5Y CAGR
+14.9%
10Y CAGR
+0.7%

AAT diluted EPS was $0.13 in fiscal Q3 2026 (ended Sep 30, 2026), up 85.7% from a year earlier. For the full fiscal 2025 it was $0.92, down 2.1% from fiscal 2024. Compound annual growth was +14.9% over 5 years and +0.7% over 10 years.

Export CSV

Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$436.20M$457.86M$441.16M$422.65M$375.83M$344.57M$366.74M$330.87M$314.98M$295.09M
Gross profit$266.61M$290.13M$277.21M$270.21M$246.05M$223.45M$234.76M$209.41M$198.31M$187.16M
Selling, general and admin$37.84M$35.47M$35.96M$32.14M$29.88M$26.58M$24.87M$22.78M$21.38M$17.90M
Operating income$145.93M$129.20M$121.75M$114.73M$99.87M$88.58M$113.69M$79.53M$93.65M$97.94M
Interest expense----$58.59M$53.44M$54.01M$52.25M$53.85M$51.94M
Income tax$770.0K$886.0K$1.04M$850.0K$738.0K-$9.0K$819.0K$327.0K$214.0K$566.0K
Net income$55.65M$56.80M$50.38M$43.51M$28.38M$27.66M$45.72M$19.69M$29.08M$32.59M
EPS, basic$0.92$0.94$0.84$0.72$0.47$0.46$0.84$0.42$0.62$0.72
EPS, diluted$0.92$0.94$0.84$0.72$0.47$0.46$0.84$0.42$0.62$0.72
Diluted shares76.7M76.5M76.3M76.2M76.2M76.1M70.8M64.1M64.1M63.2M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$129.36M$425.66M$82.89M$49.57M$139.52M$139.05M$109.45M$57.27M$91.95M$54.75M
Total assets$2.92B$3.27B$2.98B$2.99B$3.02B$2.82B$2.79B$2.20B$2.26B$1.99B
Total debt$75.00M$75.00M$75.00M$75.00M$111.00M$111.00M$162.00M$182.76M$279.89M$447.03M
Total liabilities$1.83B$2.15B$1.83B$1.80B$1.81B$1.56B$1.50B$1.40B$1.42B$1.15B
Shareholders' equity$1.15B$1.12B$1.15B$1.19B$1.21B$1.25B$1.29B$802.47M$844.14M$838.55M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$167.12M$207.11M$188.75M$179.07M$168.33M$126.98M$153.82M$136.51M$145.85M$120.68M
Investing cash flow-$30.52M-$77.41M-$89.89M-$166.32M-$312.28M-$69.08M-$599.18M-$64.35M-$330.56M-$63.20M
Financing cash flow-$432.90M$213.07M-$65.55M-$102.70M$144.42M-$28.31M$497.55M-$106.84M$221.91M-$54.27M
Dividends paid$105.25M$103.37M$101.57M$98.25M$88.94M$76.51M$80.61M$70.23M$67.54M$64.08M
Stock-based compensation$7.40M$7.11M$8.84M$8.69M$8.49M$6.31M$4.48M$3.04M$4.74M$2.41M
Depreciation and amortization$127.31M$125.46M$119.50M$123.34M$116.31M$108.29M$96.20M$107.09M$83.28M$71.32M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY-4.7%3.8%4.4%12.5%9.1%-6.0%10.8%5.0%6.7%7.1%
Net income growth, YoY-2.0%12.7%15.8%53.3%2.6%-39.5%132.2%-32.3%-10.8%-15.4%
EPS growth, YoY-2.1%11.9%16.7%53.2%2.2%-45.2%100.0%-32.3%-13.9%-16.3%
Gross margin61.1%63.4%62.8%63.9%65.5%64.8%64.0%63.3%63.0%63.4%
Operating margin33.5%28.2%27.6%27.1%26.6%25.7%31.0%24.0%29.7%33.2%
Net margin12.8%12.4%11.4%10.3%7.6%8.0%12.5%5.9%9.2%11.0%
Return on equity4.8%5.1%4.4%3.7%2.3%2.2%3.5%2.5%3.4%3.9%
Return on assets1.9%1.7%1.7%1.5%0.9%1.0%1.6%0.9%1.3%1.6%
Debt to equity0.070.070.070.060.090.090.130.230.330.53

Source: XBRL data American Assets Trust Inc. files with the SEC, latest filing dated Oct 30, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

AAT peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
AAT$444.44M+1.1%$24.40M5.5%$1.33B
WELL$13.79B+39.2%$1.67B12.1%$181.46B
PLD$8.95B+6.7%$3.71B41.5%$124.09B
EQIX$10.06B+11.1%$1.65B16.4%$104.38B
AMT$11.01B+5.3%$3.31B30.1%$87.65B
SPG$7.15B+16.2%$4.51B63.0%$75.39B
DLR$6.34B+12.6%$1.38B21.7%$68.13B
PSA$5.03B+5.2%$1.90B37.8%$63.18B
O$6.21B+10.8%$1.36B21.8%$56.58B

AAT FAQ

7 questions
  • What is AAT revenue?
    American Assets Trust Inc. (AAT) reported $444.44M of revenue for the twelve months ended Sep 30, 2026. That is up 1.1% from the year before. Revenue for fiscal 2025 was $436.20M.
  • Is AAT profitable?
    Yes. American Assets Trust Inc. earned $24.40M in net income for the twelve months ended Sep 30, 2026, a net margin of 5.5%.
  • How much cash and debt does AAT have?
    American Assets Trust Inc. reported $89.61M in cash and cash equivalents and $75.00M of debt on its most recent balance sheet in SEC filings.
  • How fast is AAT revenue growing?
    American Assets Trust Inc.'s revenue changed -4.7% in fiscal 2025, to $436.20M. Its compound annual growth rate was +4.8% over 5 years and +4.7% over 10 years.
  • What is AAT gross margin?
    American Assets Trust Inc.'s gross profit was $271.40M on $444.44M of revenue for the twelve months ended Sep 30, 2026, a gross margin of 61.1%.
  • When did AAT last report financial results?
    The latest statements here come from American Assets Trust Inc.'s 10-Q filed on Oct 30, 2026, covering the period ended Sep 30, 2026.
  • Where does this AAT financial data come from?
    Quantisnow builds these statements from the structured XBRL data American Assets Trust Inc. files with the SEC. It is provided for information only and is not investment advice.