American Assets Trust (AAT) Financial Statements & Analysis

American Assets Trust (AAT) Income Statement

American Assets Trust reported revenue of $436.20M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 4.7% from $457.85M a year earlier. Net income was $55.65M, down 23.6% year over year, a net margin of 12.8%. Gross margin was 61.1% and operating margin 33.5%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $109.48M, up 1.4% from the same quarter a year earlier.

American Assets Trust Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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American Assets Trust, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	436.20	457.85	441.16	422.65	375.83	344.57	366.74	330.87	314.98
Cost of Revenue	169.60	167.73	163.96	152.43	129.77	121.12	131.98	121.46	116.68
Gross Profit	266.61	290.13	277.21	270.22	246.05	223.45	234.76	209.41	198.31
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-
Selling, General & Administrative	37.84	35.47	35.96	32.14	29.88	26.58	24.87	24.89	23.44
Operating Expenses	120.68	160.93	155.46	155.48	146.19	134.87	121.08	129.88	104.66
Operating Income	145.93	129.20	121.75	114.73	99.87	88.58	113.69	79.54	93.65
Other Income/Expense
Interest Income	4.33	9.03	2.18	0.23	0.32	0.44	0.70	0.24	0.55
Interest Expense	78.12	74.53	64.71	58.23	58.59	53.44	54.01	52.25	53.85
Other Income/Expense	-30.09	10.00	-56.02	-58.01	-62.54	-53.00	-52.68	-52.01	-53.30
Income
Income Before Tax	72.14	73.70	65.73	56.73	37.33	35.58	61.01	27.20	40.13
Income Tax Expense	0.77	0.89	1.04	0.85	0.74	-0.01	0.82	0.33	0.21
Net Income	55.65	72.82	64.69	55.88	36.59	35.59	60.19	27.20	40.13
Net Income - Continuous Operations	71.37	72.82	64.69	55.88	36.59	35.59	60.19	27.20	40.13
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	226.64	273.69	249.94	238.30	212.22	197.31	211.22	186.63	176.92
EBIT	101.46	148.23	121.75	114.96	99.87	-	-	-	-
Depreciation & Amortization	125.19	125.46	119.50	123.34	116.31	108.29	96.21	337.81	305.34
Earnings Per Share
Basic EPS	1.00	1.00	1.00	1.00	-	-	1.00	-	1.00
Diluted EPS	1.00	1.00	1.00	1.00	-	-	1.00	-	1.00
Basic Shares Outstanding	60.56	60.33	60.16	60.05	59.99	59.81	54.11	46.99	46.72
Diluted Shares Outstanding	76.74	76.51	76.34	76.23	76.17	76.12	75.94	64.14	64.09

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About American Assets Trust Financial Statements

What was American Assets Trust's revenue in fiscal 2025?

American Assets Trust reported revenue of $436.20M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 4.7% from $457.85M a year earlier.

Is American Assets Trust profitable?

Yes. American Assets Trust earned net income of $55.65M in fiscal 2025, a net margin of 12.8%. In fiscal 2024 it earned $72.82M.

What is American Assets Trust's operating margin?

American Assets Trust's operating income was $145.93M on revenue of $436.20M in fiscal 2025, an operating margin of 33.5%, compared with 28.2% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition