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.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 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 item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 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 item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 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
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 61.1% | 63.4% | 62.8% | 63.9% | 65.5% | 64.8% |
| Operating margin | 33.5% | 28.2% | 27.6% | 27.1% | 26.6% | 25.7% |
| EBITDA margin | 62.6% | 55.6% | 54.7% | 56.3% | 57.5% | 57.1% |
| Net margin | 12.8% | 12.4% | 11.4% | 10.3% | 7.6% | 8.0% |
| Free cash flow margin | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 8.7% | 7.7% | 8.2% | 7.6% | 8.0% | 7.7% |
| Effective tax rate | 1.4% | 1.5% | 2.0% | 1.9% | 2.5% | -0.0% |
| Return on assets | 1.9% | 1.7% | 1.7% | 1.5% | 0.9% | 1.0% |
| Return on equity | 4.8% | 4.8% | 4.2% | 3.6% | 2.3% | 2.2% |
| Return on invested capital | 5.0% | 4.0% | 4.1% | 4.0% | 3.4% | 3.4% |
| Liquidity | ||||||
| Current ratio | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - |
| Leverage | ||||||
| Debt / Equity | 1.48 | 1.72 | 1.42 | 1.33 | 1.34 | 1.03 |
| Debt / Assets | 0.58 | 0.62 | 0.57 | 0.54 | 0.55 | 0.47 |
| Debt / EBITDA | 6.22 | 7.95 | 7.05 | 6.83 | 7.68 | 6.66 |
| Interest coverage | - | - | - | - | 1.7x | 1.7x |
| Equity multiplier | 2.54 | 2.78 | 2.49 | 2.45 | 2.44 | 2.22 |
| Liabilities / Assets | 0.63 | 0.66 | 0.61 | 0.60 | 0.60 | 0.56 |
| Efficiency | ||||||
| Asset turnover | 0.15 | 0.14 | 0.15 | 0.14 | 0.12 | 0.12 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 20.6x | 27.9x | 26.8x | 36.8x | 79.9x | 62.8x |
| P / B | 1.3x | 1.7x | 1.4x | 1.7x | 2.3x | 1.7x |
| P / S | 3.3x | 4.4x | 3.9x | 4.8x | 7.6x | 6.4x |
| EV / EBITDA | 11.1x | 14.2x | 13.8x | 15.1x | 20.3x | 17.1x |
| 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
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-date | Per 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 |