AAT · American Assets Trust, Inc.

$22.50 -0.57 (-2.47%) At close · Aug 6

Market Cap

$1.38B

61.39M

Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.

Revenue

$436.2M -4.7%

FY2025

Net Income

$71.37M -2%

FY2025

Gross Margin

61.12% -2.2pp

FY2025

Operating Margin

33.45% +5.2pp

FY2025

Diluted EPS

$0.92 -2.1%

FY2025

Operating Cash Flow

$167.12M -19.3%

FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Income Statement Balance Sheet Cash Flow Adjusted All Metrics

Annual Quarterly

Line Item	3Y	5Y	10Y	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Revenue	+1.1%	+4.8%	+4.7%	$438.19M	$436.2M	$457.86M	$441.16M	$422.65M	$375.83M	$344.57M	$366.74M	$330.87M	$314.98M	$295.09M	$275.62M	$260M	$255.06M	$235.47M	$202.79M	$117.75M	$112.59M
Rental Income	+0.7%	+301.2%	+4.6%	$411.96M	$410.49M	$423.61M	$419.37M	$402.51M	$360.21M	$395K	$343.87M	$309.54M	$298.8M	$279.5M	$261.89M	$246.08M	$242.76M	$225.25M	$194.17M	$115.17M	$108.65M
Gross Profit	-0.4%	+3.6%	+4.1%	$266.23M	$266.61M	$290.13M	$277.21M	$270.22M	$246.05M	$223.45M	$234.76M	$209.41M	$198.31M	$187.16M	$177.62M	$168.77M	$165.07M	$149.35M	$125.91M	—	—
Gross Margin	—	—	—	—	61.12%	63.37%	62.84%	63.93%	65.47%	64.85%	64.01%	63.29%	62.96%	63.42%	64.44%	64.91%	64.72%	63.43%	62.09%	—	—
General & Administrative	+5.6%	+7.3%	+6.5%	$37.31M	$37.84M	$35.47M	$35.96M	$32.14M	$29.88M	$26.58M	$24.87M	$22.78M	$21.38M	$17.9M	$20.07M	$18.53M	$17.2M	$15.59M	$13.63M	$8.7M	$7.02M
Amortization of Intangibles	-7.7%	+23.0%	—	—	$3.05M	$1.9M	$1.84M	$3.88M	$3.43M	$1.09M	—	—	—	—	—	—	—	—	—	—	—
Depreciation & Amortization	+1.1%	+3.3%	+7.2%	$129.13M	$127.31M	$125.46M	$119.5M	$123.34M	$116.31M	$108.29M	$96.21M	$107.09M	$83.28M	$71.32M	$63.39M	$66.57M	$66.78M	$61.85M	$55.94M	$34.42M	$28.47M
Total Operating Expenses	+3.2%	+7.0%	+6.5%	—	—	—	—	—	$275.96M	$255.99M	$253.06M	$251.33M	$221.34M	$197.15M	$181.47M	$176.33M	$173.96M	$163.56M	$146.44M	$75.33M	$62.85M
Total Costs & Expenses	+2.8%	+5.5%	—	$338.4M	$334.75M	$328.66M	$319.42M	$307.91M	$275.96M	$255.99M	—	—	—	—	—	—	—	—	—	—	—
Operating Income	+8.3%	+10.5%	+4.5%	$99.79M	$145.93M	$129.2M	$121.75M	$114.73M	$99.87M	$88.58M	$113.69M	$79.54M	$93.65M	$97.94M	$94.15M	$83.67M	$81.1M	$71.91M	$56.34M	$42.42M	$49.74M
Operating Margin	—	—	—	—	33.45%	28.22%	27.6%	27.15%	26.57%	25.71%	31%	24.04%	29.73%	33.19%	34.16%	32.18%	31.8%	30.54%	27.78%	36.03%	44.18%
EBITDA	+4.7%	+6.8%	+5.7%	$228.92M	$273.24M	$254.66M	$241.25M	$238.07M	$216.18M	$196.87M	$209.89M	$186.63M	$176.92M	$169.26M	$157.54M	$150.24M	$147.88M	$133.76M	$112.28M	$76.84M	$78.21M
Interest Expense	+3.9%	+2.4%	+0.7%	—	—	—	—	—	$58.59M	$53.44M	$54.01M	$52.25M	$53.85M	$51.94M	$47.26M	$52.97M	$58.02M	$57.33M	$54.58M	$43.25M	$42.03M
Other Non-Operating Income	—	+51.4%	—	$3.26M	$3.56M	$18.15M	$7.65M	-$625K	-$418K	$447K	-$122K	-$85K	$334K	-$368K	-$97K	$441K	-$487K	-$629K	$212K	-$1.85M	-$2.96M
Gain on Sales of Real Estate	—	—	+20.1%	$0	$44.48M	$0	$0	—	$0	$0	$633K	$0	$0	$0	$7.12M	$0	$0	—	—	—	—
Equity in Earnings of Unconsolidated Entities	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	$160K	$0	-$188K	-$4.41M	-$4.87M
Income Tax	-3.2%	—	+10.1%	$454K	$770K	$886K	$1.04M	$850K	$738K	-$9000	$819K	$327K	$214K	$566K	$295K	$460K	$645K	$1.02M	$573K	—	—
Net Income	+8.5%	+20.9%	+6.4%	$19.85M	$71.37M	$72.82M	$64.69M	$55.88M	$36.59M	$27.66M	$45.72M	$19.69M	$29.08M	$32.59M	$38.51M	$21.76M	$15.22M	$34.94M	$2.92M	$2.17M	$5.24M
Net Margin	—	—	—	—	16.36%	15.9%	14.66%	13.22%	9.74%	8.03%	12.47%	5.95%	9.23%	11.04%	13.97%	8.37%	5.97%	14.84%	1.44%	1.85%	4.65%
Net Income Available to Common Stockholders	+8.6%	+15.0%	+3.8%	$18.25M	$55.65M	$56.8M	$50.38M	$43.51M	$28.38M	$27.66M	$45.72M	$19.69M	$29.08M	$32.59M	$38.51M	$21.76M	$15.22M	$9.18M	-$893K	—	—
Comprehensive Income	+0.8%	+17.1%	+3.3%	$16.51M	$53.16M	$54.06M	$48.8M	$51.91M	$30.06M	$24.11M	$41.01M	$19.17M	$28.97M	$44.83M	$38.33M	$22.22M	$15.76M	$35.47M	—	—	—
EPS (Basic) USD/shares	+8.5%	+14.9%	+0.6%	—	$0.92	$0.94	$0.84	$0.72	$0.47	$0.46	$0.84	$0.42	$0.62	$0.72	$0.87	$0.52	$0.38	$0.90	$0.08	—	—
EPS (Diluted) USD/shares	+8.5%	+14.9%	+0.7%	—	$0.92	$0.94	$0.84	$0.72	$0.47	$0.46	$0.84	$0.42	$0.62	$0.72	$0.86	$0.51	$0.38	$0.90	$0.08	—	—
Shares Outstanding (Basic Avg) shares	+0.3%	+0.2%	+3.1%	—	60.56M	60.33M	60.16M	60.05M	59.99M	59.81M	54.11M	46.95M	46.72M	45.33M	44.44M	42.04M	39.54M	38.74M	36.75M	—	—
Shares Outstanding (Diluted Avg) shares	+0.2%	+0.2%	+2.1%	—	76.74M	76.51M	76.34M	76.23M	76.17M	76.12M	70.79M	64.14M	64.09M	63.23M	62.34M	59.95M	57.52M	57.05M	54.22M	—	—

Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2011–FY2025: $1.11B in dividends.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue

—

EV/EBIT

—

P/E (TTM)

77.31×

Peer median 25.54×

P/FFO (TTM)

9.06×

Peer median 15.65×

Peer medians compare against the 14 similar-size REIT - Diversified companies (of 19 listed).

P/FFO uses the company-stated “FFO attributable to common stock and units”, extracted from the reconciliation in its SEC filings — the company's own non-GAAP definition, not an XBRL-tagged figure.

Valuation over time computed as of each quarter's filing date

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Office Segment	$206,037,000	$215,778,000	$207,856,000	$203,391,000	$186,366,000	$177,554,000	$144,683,000	$112,362,000
Retail Segment	$95,122,000	$109,040,000	$104,767,000	$100,912,000	$94,662,000	$88,280,000	$107,604,000	$105,552,000
Multifamily Segment	$68,961,000	$65,372,000	$61,830,000	$58,139,000	$52,315,000	$50,327,000	$51,066,000	$50,627,000
Mixed Use Segment	$66,084,000	$67,665,000	$66,711,000	$60,206,000	$42,485,000	$28,412,000	$63,388,000	$62,326,000

Segment Operating Income

Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Office Segment	$139,139,000	$153,544,000	$146,517,000	$145,913,000	$136,133,000	$130,130,000	$102,449,000	$78,502,000
Retail Segment	$68,338,000	$76,532,000	$73,327,000	$70,606,000	$66,679,000	$60,906,000	$76,971,000	$75,474,000
Multifamily Segment	$37,010,000	$36,583,000	$33,805,000	$31,883,000	$29,104,000	$28,253,000	$30,203,000	$30,186,000
Mixed Use Segment	$22,122,000	$23,469,000	$23,558,000	$21,813,000	$14,138,000	$4,165,000	$25,138,000	$25,250,000

Operating Margin by Segment (%)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Office Segment	67.5%	71.2%	70.5%	71.7%	73%	73.3%	70.8%	69.9%
Retail Segment	71.8%	70.2%	70%	70%	70.4%	69%	71.5%	71.5%
Multifamily Segment	53.7%	56%	54.7%	54.8%	55.6%	56.1%	59.1%	59.6%
Mixed Use Segment	33.5%	34.7%	35.3%	36.2%	33.3%	14.7%	39.7%	40.5%

Key facts CIK 1500217 CUSIP 024013104 13F (30d) 64 filings 64 filers Visit website Investor relations