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American Assets Trust Inc (AAT) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

REAL ESTATE · REIT - DIVERSIFIED · DATA UPDATED 2026-09-13

American Assets Trust Inc (AAT) operates in the REIT - DIVERSIFIED industry and is headquartered in San Diego, United States with about 232 employees. Its market capitalization is roughly $2 billion. In the fiscal year ended 2025-12-31, AAT reported $436M in revenue and $71M in net income.

American Assets Trust, Inc. is a full service, vertically integrated and self-administered real estate investment trust.

Interactive charts & full statements → Open the AAT valuation workbench →

AAT Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31
Total Revenue	$440M	$436M	$458M	$441M	$423M	$376M	$345M	$367M	$331M	$315M	$295M	$276M	$260M	$255M	$235M	$210M	$129M	$117M	$121M	$118M
Gross Profit	$267M	$267M	$290M	$277M	$270M	$246M	$223M	$235M	$209M	$198M	$187M	$178M	$169M	$165M	$149M	$150M	$93M	$88M	$88M	$85M
Gross Margin %	60.6%	61.1%	63.4%	62.8%	63.9%	65.5%	64.8%	64.0%	63.3%	63.0%	63.4%	64.4%	64.9%	64.7%	63.4%	71.4%	72.1%	75.5%	72.8%	72.3%
Operating Income (EBIT)	$100M	$146M	$129M	$122M	$115M	$100M	$89M	$114M	$80M	$94M	$98M	$94M	$84M	$81M	$72M	$59M	$47M	$51M	$48M	$43M
Operating Margin %	22.8%	33.5%	28.2%	27.6%	27.2%	26.6%	25.7%	31.0%	24.0%	29.7%	33.2%	34.2%	32.2%	31.8%	30.5%	28.0%	36.1%	44.0%	39.9%	36.7%
Net Income	$21M	$71M	$73M	$65M	$56M	$37M	$36M	$60M	$27M	$40M	$46M	$54M	$31M	$23M	$52M	$3M	$4M	$6M	($7M)	($3M)
Net Margin %	4.7%	16.4%	15.9%	14.7%	13.2%	9.7%	10.3%	16.4%	8.2%	12.7%	15.5%	19.6%	12.0%	8.9%	21.9%	1.4%	3.4%	5.5%	-5.8%	-2.2%
EBITDA	$232M	$278M	$274M	$250M	$238M	$212M	$197M	$211M	$187M	$177M	$169M	$158M	$150M	$148M	$134M	$116M	$79M	$82M	$80M	$72M
Earnings Per Share (EPS)	$0.27	$0.93	$0.95	$0.85	$0.73	$0.48	$0.47	$1.11	$0.42	$0.63	$0.72	$0.86	$0.52	$0.39	$0.90	$0.05	$0.08	$0.12	$-0.13	$-0.05
Shares Outstanding (M)	77M	77M	77M	76M	76M	76M	76M	54M	64M	64M	63M	62M	60M	58M	57M	54M	55M	53M	53M	53M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AAT Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$109M	$111M	$110M	$110M	$108M	$109M	$113M	$123M
Gross Profit	$68M	$67M	$65M	$66M	$68M	$67M	$70M	$80M
Gross Margin %	62.0%	60.5%	59.4%	60.5%	62.6%	62.0%	61.3%	65.5%
Operating Income (EBIT)	$26M	$26M	$23M	$25M	$26M	$72M	$30M	$38M
Operating Margin %	24.0%	23.4%	21.1%	22.6%	24.1%	66.3%	26.5%	30.8%
Net Income	$5M	$5M	$4M	$6M	$7M	$54M	$12M	$21M
Net Margin %	4.9%	4.6%	3.8%	5.4%	6.6%	49.8%	10.2%	17.4%
EBITDA	$59M	$59M	$56M	$58M	$60M	$104M	$66M	$73M
Earnings Per Share (EPS)	$0.07	$0.07	$0.05	$0.08	$0.09	$0.71	$0.15	$0.35
Shares Outstanding (M)	77M	77M	77M	77M	77M	77M	77M	60M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AAT Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31
Cash from Operations (CFO)	$169M	$167M	$207M	$189M	$179M	$168M	$127M	$154M	$137M	$146M	$123M	$111M	$106M	$93M	$76M	$65M	$48M	$48M	$48M	$31M
Capital Expenditures (CapEx)	$80M	$72M	$70M	$83M	$114M	$105M	$63M	$88M	$54M	$47M	$60M	$134M	$145M	$56M	$35M	$243M	$38M	$7M	$20M	$20M
Free Cash Flow (FCF)	$89M	$95M	$137M	$106M	$65M	$64M	$63M	$65M	$82M	$98M	$63M	($23M)	($39M)	$37M	$41M	($177M)	$11M	$40M	$28M	$11M
FCF Margin %	20.2%	21.8%	29.9%	24.0%	15.4%	17.0%	18.4%	17.9%	24.8%	31.2%	21.4%	-8.5%	-15.0%	14.5%	17.6%	-84.4%	8.4%	34.6%	22.9%	9.4%
Dividends Paid	$89M	$105M	$103M	$80M	$98M	$89M	$77M	$81M	$51M	$68M	$64M	$42M	$54M	$50M	$48M	$46M	$23M	$23M	$64M	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AAT Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$49M	$39M	$41M	$41M	$49M	$37M	$41M	$52M
Capital Expenditures (CapEx)	$24M	$20M	$18M	$17M	$21M	$16M	$19M	$24M
Free Cash Flow (FCF)	$24M	$18M	$23M	$23M	$28M	$20M	$21M	$28M
FCF Margin %	22.3%	16.4%	20.9%	21.1%	26.3%	18.8%	18.9%	22.8%
Dividends Paid	$26M	$21M	$21M	$21M	$21M	$26M	$26M	$26M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AAT Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31
Total Assets	$2.9B	$2.9B	$3.3B	$3.0B	$3.0B	$3.0B	$2.8B	$2.8B	$2.2B	$2.3B	$2.0B	$2.0B	$1.9B	$1.8B	$1.8B	$1.7B	$1.1B	$939M	$971M
Cash & Cash Equivalents	$110M	$129M	$426M	$83M	$50M	$140M	$137M	$99M	$48M	$83M	$45M	$40M	$59M	$49M	$42M	$113M	$42M	$24M	$19M
Total Liabilities	$1.8B	$1.8B	$2.1B	$1.8B	$1.8B	$1.8B	$1.6B	$1.5B	$1.4B	$1.4B	$1.1B	$1.1B	$1.2B	$1.1B	$1.1B	$1.0B	$962M	$768M	$782M
Total Debt (Short + Long-Term)	$1.7B	$1.7B	$2.3B	$1.8B	$1.7B	$3.3B	$1.4B	$1.4B	$1.3B	$1.3B	$1.2B	$1.1B	$1.1B	$1.0B	$1.1B	$948M	$872M	$717M	$755M
Total Shareholders' Equity	$1.1B	$1.2B	$1.2B	$1.2B	$1.2B	$1.2B	$1.3B	$1.3B	$803M	$844M	$810M	$800M	$767M	$649M	$686M	$680M	$122M	$133M	$149M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive AAT viewer.

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ESRT · Empire State Realty Trust Inc — $1 billion
SAFE · Safehold Inc — $931 million
JBGS · JBG SMITH Properties — $867 million
CTO · CTO Realty Growth Inc — $781 million

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