CoverageForm 410-K10-Q8-K13D13G13F

AAT · American Assets Trust, Inc. - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · AAT

Income Statement

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue$436.20M$457.86M$441.16M$422.65M$375.83M$344.57M
Cost of Revenue------
Gross Profit$266.61M$290.13M$277.21M$270.21M$246.05M$223.45M
R&D------
SG&A$37.84M$35.47M$35.96M$32.14M$29.88M$26.58M
Total Operating Expenses$334.75M$328.66M$319.42M$255.99M$275.96M$255.99M
D&A$127.31M$125.46M$119.50M$123.34M$116.31M$108.29M
Operating Income$145.93M$129.20M$121.75M$114.73M$99.87M$88.58M
Interest Expense----$58.59M$53.44M
Income Tax$770.0K$886.0K$1.04M$850.0K$738.0K($9.0K)
Net Income$55.65M$56.80M$50.38M$43.51M$28.38M$27.66M
EPS - Basic$0.92$0.94$0.84$0.72$0.47$0.46
EPS - Diluted$0.92$0.94$0.84$0.72$0.47$0.46

Balance Sheet

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash & Equivalents$129.36M$425.66M$82.89M$49.57M$139.52M$137.33M
Accounts Receivable------
Inventory------
Accounts Payable------
Current Assets------
Total Assets$2.92B$3.27B$2.98B$2.99B$3.02B$2.82B
Current Liabilities------
Long-term Debt$1.70B$2.02B$1.70B$1.63B$1.66B$1.31B
Total Liabilities$1.83B$2.15B$1.83B$1.80B$1.81B$1.56B
Stockholders' Equity$1.15B$1.18B$1.20B$1.22B$1.24B$1.27B
Retained Earnings($331.09M)($304.34M)($280.24M)($251.17M)($217.78M)($176.56M)

Cash Flow

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Operating Cash Flow$167.12M$207.11M$188.75M$179.07M$168.33M$126.98M
Investing Cash Flow($30.52M)($77.41M)($89.89M)($166.32M)($312.28M)($69.08M)
Financing Cash Flow($432.90M)$213.07M($65.55M)($102.70M)$144.42M($28.31M)
CapEx------
Free Cash Flow------

Ratios

MetricFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Profitability
Gross margin61.1%63.4%62.8%63.9%65.5%64.8%
Operating margin33.5%28.2%27.6%27.1%26.6%25.7%
EBITDA margin62.6%55.6%54.7%56.3%57.5%57.1%
Net margin12.8%12.4%11.4%10.3%7.6%8.0%
Free cash flow margin------
FCF / Net income------
R&D / Revenue------
SG&A / Revenue8.7%7.7%8.2%7.6%8.0%7.7%
Effective tax rate1.4%1.5%2.0%1.9%2.5%-0.0%
Return on assets1.9%1.7%1.7%1.5%0.9%1.0%
Return on equity4.8%4.8%4.2%3.6%2.3%2.2%
Return on invested capital5.0%4.0%4.1%4.0%3.4%3.4%
Liquidity
Current ratio------
Quick ratio------
Cash ratio------
Leverage
Debt / Equity1.481.721.421.331.341.03
Debt / Assets0.580.620.570.540.550.47
Debt / EBITDA6.227.957.056.837.686.66
Interest coverage----1.7x1.7x
Equity multiplier2.542.782.492.452.442.22
Liabilities / Assets0.630.660.610.600.600.56
Efficiency
Asset turnover0.150.140.150.140.120.12
Inventory turnover------
Days sales outstanding------
Days inventory outstanding------
Days payable outstanding------
Cash conversion cycle------
Valuation
P / E20.6x27.9x26.8x36.8x79.9x62.8x
P / B1.3x1.7x1.4x1.7x2.3x1.7x
P / S3.3x4.4x3.9x4.8x7.6x6.4x
EV / EBITDA11.1x14.2x13.8x15.1x20.3x17.1x
Growth
Revenue growth (YoY)-4.7%3.8%4.4%12.5%9.1%-6.0%
Revenue CAGR (3y)1.1%6.8%8.6%4.8%4.3%3.0%
Revenue CAGR (5y)4.8%4.5%5.9%6.1%5.0%4.6%
Gross profit growth (YoY)-8.1%4.7%2.6%9.8%10.1%-4.8%
Operating income growth (YoY)13.0%6.1%6.1%14.9%12.7%-22.1%
Net income growth (YoY)-2.0%12.7%15.8%53.3%2.6%-39.5%
EPS growth (YoY)-2.1%11.9%16.7%53.2%2.2%-45.2%
EPS CAGR (3y)8.5%26.0%22.2%-5.0%3.8%-9.5%
EPS CAGR (5y)14.9%2.3%14.9%3.0%-8.2%-11.8%
FCF growth (YoY)------
FCF CAGR (5y)------
Book value growth (YoY)-2.1%-1.8%-1.9%-1.4%-2.6%-3.2%

Stability scores

Piotroski F-score

FY 2025 · 9-point quality

7/9
Strong
  • Net income positive
  • Operating cash flow positive
  • ROA improved YoY
  • Cash flow > net income
  • Long-term debt decreased
  • -Current ratio improved
  • No share dilution
  • Gross margin improved
  • Asset turnover improved

Peer comparison

Same SIC group: Real Estate Investment Trusts

CompanyRevenue (last FY)Net marginROE
UMH$261.75M2.3%0.7%
ARE---9.2%
VTR$5.83B4.3%2.0%
SPG$6.36B72.7%88.8%
NYSE: KRC$1.11B0.0%0.0%

Comparing American Assets Trust against the 5 most active filers in the same SIC group.

Dividends

$1.02/share trailing 12 months · -39.5% YoY

Ex-datePer share
Mar 5, 2026$0.3400
Dec 4, 2025$0.3400
Sep 4, 2025$0.3400
Jun 5, 2025$0.3400
Mar 6, 2025$0.3400
Dec 5, 2024$0.3350
Sep 5, 2024$0.3350
Jun 6, 2024$0.3350
Mar 6, 2024$0.3350
Dec 6, 2023$0.3300
Sep 6, 2023$0.3300
Jun 7, 2023$0.3300
Mar 8, 2023$0.3300
Dec 7, 2022$0.3200
Sep 7, 2022$0.3200
Jun 8, 2022$0.3200
Mar 9, 2022$0.3200
Dec 8, 2021$0.3000
Sep 8, 2021$0.3000
Jun 9, 2021$0.2800
Mar 10, 2021$0.2800
Dec 9, 2020$0.2500
Sep 9, 2020$0.2500
Jun 10, 2020$0.2000