Free Trial
Tada emoji MarketBeat All Access — Now Just $5.00 for 5 Weeks

American Assets Trust (AAT) Financials

American Assets Trust logo
$20.88 +0.01 (+0.05%)
As of 12:01 PM Eastern
This is a fair market value price provided by Polygon.io. Learn more.
Compare
Annual Income Statements for American Assets Trust

Annual Income Statements for American Assets Trust

This table shows American Assets Trust's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 22 39 33 29 47 46 28 28 44 50 57
Consolidated Net Income / (Loss)		 31 54 46 40 54 60 36 37 56 65 73
Net Income / (Loss) Continuing Operations		 31 47 46 40 54 60 36 37 56 65 73
Total Pre-Tax Income 		84 94 98 40 55 60 89 100 115 122 129
Total Revenue		 260 276 295 261 557 313 345 376 423 441 458
Net Interest Income / (Expense)		 0.00 0.00 0.00 -54 -104 -54 0.00 0.00 0.00 0.00 0.00
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 0.00 0.00 0.00 54 104 54 0.00 0.00 0.00 0.00 0.00
Total Non-Interest Income		 260 276 295 315 662 367 345 376 423 441 458
Other Service Charges		 14 14 16 16 43 23 14 16 20 22 34
Other Non-Interest Income		 246 262 279 299 619 344 330 360 403 419 424
Total Non-Interest Expense		 176 181 197 221 503 253 256 276 308 319 329
Net Occupancy & Equipment Expense		 - - 80 84 173 92 79 87 108 119 124
Other Operating Expenses		 110 118 46 54 116 65 69 73 77 81 80
Depreciation Expense		 67 63 71 83 214 96 108 116 123 120 125
Other Gains / (Losses), net		 -53 -47 -52 0.33 -0.17 - -53 -63 -59 -57 -56
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.37 0.17 0.19 0.24 0.62 0.38 0.38 0.56 0.65 0.76 0.79
Other Adjustment to Net Income / (Loss) Attributable to Common Shareholders)		 9.02 15 13 11 7.21 14 7.55 7.65 12 14 15
Basic Earnings per Share		 $0.52 $0.87 $0.72 $0.62 $0.84 $0.84 $0.46 $0.47 $0.72 $0.84 $0.94
Weighted Average Basic Shares Outstanding		 42.04M 44.44M 45.33M 46.72M 111.09M 54.11M 59.81M 59.99M 60.05M 60.16M 60.33M
Diluted Earnings per Share		 $0.51 $0.86 $0.72 $0.62 $0.84 $0.84 $0.46 $0.47 $0.72 $0.84 $0.94
Weighted Average Diluted Shares Outstanding		 59.95M 62.34M 63.23M 64.09M 128.27M 70.79M 76.12M 76.17M 76.23M 76.34M 76.51M
Weighted Average Basic & Diluted Shares Outstanding		 43.57M 44.80M 45.30M 46.90M 46.90M 60.07M 60.47M 60.52M 60.72M 60.90M 61.14M
Cash Dividends to Common per Share		 - - $1.01 $1.05 $1.09 $1.14 $1.00 $1.16 $1.28 $1.32 $1.34

Quarterly Income Statements for American Assets Trust

This table shows American Assets Trust's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 9.63 16 12 12 10 19 12 17 8.98 43 5.46
Consolidated Net Income / (Loss)		 12 21 15 15 13 25 15 21 12 54 7.12
Net Income / (Loss) Continuing Operations		 12 21 15 15 13 25 15 21 12 54 7.12
Total Pre-Tax Income 		27 30 31 31 29 31 31 38 30 72 26
Total Revenue		 106 108 110 111 112 111 111 123 113 153 108
Net Interest Income / (Expense)		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Interest Income		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Interest Expense		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Non-Interest Income		 106 108 110 111 112 111 111 123 113 153 108
Other Service Charges		 4.96 5.04 5.82 5.70 5.22 5.67 5.80 17 5.51 5.66 6.86
Net Realized & Unrealized Capital Gains on Investments		 - - - - - 0.00 0.00 - - 44 0.00
Other Non-Interest Income		 101 103 104 105 107 105 105 106 108 103 101
Total Non-Interest Expense		 79 78 78 80 83 80 80 85 83 81 82
Net Occupancy & Equipment Expense		 29 28 29 30 33 30 30 31 33 30 30
Other Operating Expenses		 20 21 20 20 21 20 20 20 20 20 19
Depreciation Expense		 30 30 30 30 30 30 31 34 31 30 33
Other Gains / (Losses), net		 -15 -9.05 -16 -16 -16 -5.93 -16 -16 -18 -18 -19
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.18 0.19 0.19 0.19 0.19 0.20 0.20 0.19 0.20 0.20 0.21
Other Adjustment to Net Income / (Loss) Attributable to Common Shareholders)		 2.59 4.34 3.22 3.17 2.82 5.17 3.20 4.47 2.41 11 1.46
Basic Earnings per Share		 $0.15 $0.27 $0.20 $0.20 $0.17 $0.32 $0.20 $0.28 $0.14 $0.70 $0.09
Weighted Average Basic Shares Outstanding		 60.05M 60.14M 60.15M 60.15M 60.16M 60.31M 60.31M 60.32M 60.33M 60.54M 60.54M
Diluted Earnings per Share		 $0.15 $0.27 $0.20 $0.20 $0.17 $0.32 $0.20 $0.28 $0.14 $0.70 $0.09
Weighted Average Diluted Shares Outstanding		 76.23M 76.33M 76.33M 76.33M 76.34M 76.49M 76.49M 76.50M 76.51M 76.72M 76.72M
Weighted Average Basic & Diluted Shares Outstanding		 60.72M 60.72M 60.72M 60.72M 60.90M 60.89M 60.90M 60.90M 61.14M 61.13M 61.15M
Cash Dividends to Common per Share		 - $0.33 $0.33 $0.33 - $0.34 $0.34 $0.34 - $0.34 $0.34

Annual Cash Flow Statements for American Assets Trust

This table details how cash moves in and out of American Assets Trust's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 10 -19 3.20 37 -35 52 30 0.48 -90 33 343
Net Cash From Operating Activities		 106 110 121 146 137 154 127 168 179 189 207
Net Cash From Continuing Operating Activities		 106 110 121 146 137 152 127 168 179 189 207
Net Income / (Loss) Continuing Operations		 31 54 46 40 27 60 36 37 56 65 73
Consolidated Net Income / (Loss)		 31 54 46 40 27 60 36 37 56 65 73
Provision For Loan Losses		 - - - - 0.79 0.00 18 -2.29 2.33 1.44 1.52
Depreciation Expense		 67 63 71 83 107 96 108 116 123 120 125
Amortization Expense		 -0.59 -1.37 1.84 0.51 0.37 -5.52 -30 -15 -8.91 -3.85 -2.13
Non-Cash Adjustments to Reconcile Net Income		 5.19 -3.60 1.41 15 1.35 3.28 4.28 13 6.96 7.96 6.55
Changes in Operating Assets and Liabilities, net		 3.30 -1.88 0.48 6.74 -0.30 -2.09 -9.84 20 -0.53 -0.98 2.89
Net Cash From Investing Activities		 -153 -126 -63 -331 -64 -599 -69 -312 -166 -90 -77
Net Cash From Continuing Investing Activities		 -153 -126 -63 -331 -64 -599 -69 -312 -166 -90 -77
Purchase of Property, Leasehold Improvements and Equipment		 -145 -134 -60 -47 -54 -88 -63 -105 -114 -83 -70
Purchase of Investment Securities		 - 0.00 0.00 -278 0.00 -508 0.00 -252 -45 0.00 0.00
Other Investing Activities, net		 -8.17 -4.46 -3.57 -4.93 -9.94 -11 -5.59 -3.14 -7.37 -6.91 -7.20
Net Cash From Financing Activities		 58 -2.89 -54 222 -107 498 -28 144 -103 -66 213
Net Cash From Continuing Financing Activities		 58 -2.89 -54 222 -107 498 -28 144 -103 -66 213
Issuance of Debt		 250 265 184 623 84 209 100 495 111 225 623
Repayment of Debt		 -237 -274 -183 -363 -120 -145 -51 -260 -115 -188 -305
Payment of Dividends		 -54 -59 -64 -68 -70 -81 -77 -89 -98 -102 -103
Other Financing Activities, Net		 -4.78 -7.40 -0.81 -0.88 -0.29 -1.34 -0.67 -0.87 -0.76 -0.83 -1.45

Quarterly Cash Flow Statements for American Assets Trust

This table details how cash moves in and out of American Assets Trust's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 -14 38 -2.62 5.26 -7.08 16 16 418 -107 -282 -0.18
Net Cash From Operating Activities		 38 52 46 52 39 55 59 52 41 37 49
Net Cash From Continuing Operating Activities		 38 52 46 52 39 55 59 52 41 37 49
Net Income / (Loss) Continuing Operations		 12 21 15 15 13 25 15 21 12 54 7.12
Consolidated Net Income / (Loss)		 12 21 15 15 13 25 15 21 12 54 7.12
Provision For Loan Losses		 2.37 0.52 0.22 0.35 0.35 0.42 0.07 0.61 0.42 -0.01 0.19
Depreciation Expense		 30 30 30 30 30 30 31 34 31 30 33
Amortization Expense		 -2.07 -2.27 -0.96 -0.38 -0.24 -2.32 -0.01 -0.44 0.64 0.84 0.24
Non-Cash Adjustments to Reconcile Net Income		 1.61 1.39 2.24 0.99 3.34 0.96 13 -9.35 1.54 -42 1.33
Changes in Operating Assets and Liabilities, net		 -6.24 1.77 -0.57 5.83 -8.01 0.87 -0.48 6.75 -4.25 -6.23 7.51
Net Cash From Investing Activities		 -27 -26 -23 -21 -20 -13 -17 -26 -21 33 -23
Net Cash From Continuing Investing Activities		 -27 -26 -23 -21 -20 -13 -17 -26 -21 33 -23
Purchase of Property, Leasehold Improvements and Equipment		 -25 -25 -20 -20 -19 -11 -16 -24 -19 -16 -21
Other Investing Activities, net		 -1.22 -1.18 -3.50 -1.32 -0.91 -2.35 -1.46 -1.90 -1.49 -0.79 -2.24
Net Cash From Financing Activities		 -25 11 -25 -25 -26 -26 -26 392 -127 -351 -26
Net Cash From Continuing Financing Activities		 -25 11 -25 -25 -26 -26 -26 392 -127 -351 -26
Payment of Dividends		 -25 -25 -25 -25 -25 -26 -26 -26 -26 -26 -26

Annual Balance Sheets for American Assets Trust

This table presents American Assets Trust's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 1,942 1,974 1,987 2,260 2,198 2,790 2,817 3,018 2,988 2,985 3,273
Cash and Due from Banks		 59 40 45 83 48 99 137 140 50 83 426
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 1,580 1,762 1,781 2,008 1,969 2,432 2,402 2,543 2,532 2,396 2,411
Other Assets		 292 161 151 159 172 249 277 336 406 506 437
Total Liabilities & Shareholders' Equity		 1,942 1,974 1,987 2,260 2,198 2,790 2,817 3,018 2,988 2,985 3,273
Total Liabilities		 1,175 1,145 1,148 1,416 1,396 1,497 1,564 1,808 1,802 1,831 2,149
Non-Interest Bearing Deposits		 5.52 5.96 6.11 6.57 8.84 8.32 6.59 7.86 8.70 8.78 8.90
Other Short-Term Payables		 51 32 32 38 47 - - - - - 64
Long-Term Debt		 1,063 1,026 1,042 1,325 1,228 1,358 1,308 1,649 1,614 1,690 2,011
Other Long-Term Liabilities		 56 52 48 46 50 131 151 151 146 133 66
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 767 829 839 2,532 802 1,294 1,253 1,210 1,186 1,154 1,124
Total Preferred & Common Equity		 735 800 810 834 803 1,314 1,271 1,239 1,221 1,198 1,176
Total Common Equity		 735 800 810 2,522 803 1,316 1,253 1,239 1,221 1,198 1,176
Common Stock		 796 864 875 926 921 1,453 1,427 1,454 1,462 1,470 1,475
Retained Earnings		 -60 -64 -77 -97 -129 -144 -177 -218 -251 -280 -304
Accumulated Other Comprehensive Income / (Loss)		 0.09 -0.26 12 27 11 5.68 1.75 2.87 11 8.28 4.76
Noncontrolling Interest		 31 29 29 10 -0.51 -20 -18 -29 -36 -44 -52

Quarterly Balance Sheets for American Assets Trust

This table presents American Assets Trust's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2022 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025
Period end date 6/30/2022 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025
Total Assets		 3,007 3,009 3,020 3,012 3,011 2,988 2,993 3,396 2,968 2,956
Cash and Due from Banks		 61 63 87 85 90 99 115 533 144 144
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 2,561 2,541 2,515 2,501 2,482 2,455 2,437 2,467 2,457 2,566
Other Assets		 386 404 418 426 439 434 441 397 367 246
Total Liabilities & Shareholders' Equity		 3,007 3,009 3,020 3,012 3,011 2,988 2,993 3,396 2,968 2,956
Total Liabilities		 1,807 1,811 1,840 1,836 1,842 1,833 1,847 2,258 1,815 1,822
Non-Interest Bearing Deposits		 8.52 8.82 8.84 8.68 8.95 8.86 8.95 9.11 8.91 9.21
Other Short-Term Payables		 - - - - - - - - - 67
Long-Term Debt		 1,650 1,614 1,688 1,688 1,689 1,690 1,691 2,110 1,686 1,687
Other Long-Term Liabilities		 149 155 144 139 144 134 147 140 120 59
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,200 1,198 1,180 1,176 1,169 1,155 1,146 1,138 1,152 1,134
Total Preferred & Common Equity		 1,232 1,230 1,217 1,215 1,209 1,200 1,192 1,187 1,198 1,184
Total Common Equity		 1,232 1,230 1,217 1,215 1,209 1,200 1,192 1,187 1,198 1,184
Common Stock		 1,457 1,459 1,464 1,466 1,468 1,471 1,473 1,475 1,477 1,479
Retained Earnings		 -235 -242 -255 -263 -271 -281 -289 -293 -282 -298
Accumulated Other Comprehensive Income / (Loss)		 9.46 13 8.17 12 12 9.30 8.56 4.48 3.62 2.81
Noncontrolling Interest		 -32 -33 -37 -39 -41 -44 -47 -49 -46 -50

Annual Metrics And Ratios for American Assets Trust

This table displays calculated financial ratios and metrics derived from American Assets Trust's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 1.94% 6.01% 7.06% -11.51% 113.39% -43.76% 9.96% 9.07% 12.46% 4.38% 3.78%
EBITDA Growth		 1.93% 4.36% 9.56% -27.77% 31.11% -6.82% 10.67% 20.46% 13.85% 3.59% 6.38%
EBIT Growth		 3.17% 12.53% 4.03% -59.37% 37.13% 10.51% 46.88% 12.74% 14.88% 6.11% 6.12%
NOPAT Growth		 3.17% 12.53% 4.03% -59.37% 37.13% 10.51% 46.88% 12.74% 14.88% 6.11% 6.12%
Net Income Growth		 37.85% 73.11% -15.35% -12.06% 35.56% 10.63% -40.87% 2.82% 52.70% 15.77% 12.57%
EPS Growth		 34.21% 68.63% -16.28% -13.89% 35.48% 0.00% -45.24% 2.17% 53.19% 16.67% 11.90%
Operating Cash Flow Growth		 13.89% 4.59% 9.25% 20.86% -6.41% 12.68% -17.44% 32.56% 6.38% 5.41% 9.72%
Free Cash Flow Firm Growth		 -117.51% 379.24% 111.29% -378.26% 156.91% -481.45% 116.02% -224.51% 241.44% -20.21% -244.87%
Invested Capital Growth		 5.64% 3.01% 0.82% 14.16% -3.50% 26.66% 0.33% 7.49% -0.90% 0.34% 10.25%
Revenue Q/Q Growth		 -15.81% 1.55% 23.70% -28.34% 121.29% -58.76% 148.45% 27.84% -3.21% 1.49% 0.21%
EBITDA Q/Q Growth		 -2.78% -11.97% 7.15% -19.95% 45.91% -45.84% 600.75% 7.29% -6.63% 1.70% 0.93%
EBIT Q/Q Growth		 -5.57% -18.89% 10.82% -44.49% 1,388.65% -68.50% 243.76% 2.93% -12.85% 1.95% 0.50%
NOPAT Q/Q Growth		 -5.57% -18.89% 10.82% -44.33% 1,312.37% -68.50% 305.14% 2.93% -12.85% 1.95% 0.50%
Net Income Q/Q Growth		 -10.15% -38.45% 83.03% 20.47% 84.48% -36.18% 0.79% 153.78% 3.57% 1.71% -2.55%
EPS Q/Q Growth		 -10.53% -7.53% 41.18% 0.00% 0.00% -39.13% 12.20% 147.37% 2.86% 2.44% -3.09%
Operating Cash Flow Q/Q Growth		 5.99% -3.32% -2.00% 1.56% -1.87% 10.10% -9.85% 14.15% -0.29% 0.35% 0.87%
Free Cash Flow Firm Q/Q Growth		 -7,098.97% -26.80% -48.15% 19.67% 43.34% -31.58% 233.45% -1.42% -8.75% 4.75% 37.89%
Invested Capital Q/Q Growth		 0.29% -0.13% 4.61% -0.19% 0.34% -0.17% -0.46% -0.28% -0.41% -0.50% -3.47%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 57.56% 56.66% 57.98% 47.33% 29.08% 48.19% 48.50% 53.56% 54.22% 53.81% 55.16%
EBIT Margin		 32.18% 34.16% 33.19% 15.24% 9.79% 19.25% 25.71% 26.57% 27.15% 27.60% 28.22%
Profit (Net Income) Margin		 11.98% 19.56% 15.47% 15.37% 9.76% 19.21% 10.33% 9.74% 13.22% 14.66% 15.90%
Tax Burden Percent		 37.22% 57.26% 46.60% 100.84% 99.69% 100.00% 40.18% 36.64% 48.70% 53.13% 56.36%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 99.80% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 4.70% 5.07% 5.18% 1.96% 2.56% 2.54% 3.34% 3.62% 4.03% 4.29% 4.32%
ROIC Less NNEP Spread (ROIC-NNEP)		 -0.28% 1.27% 0.23% 2.05% 2.52% 2.53% -0.50% -0.52% 0.46% 0.87% 1.27%
Return on Net Nonoperating Assets (RNNOA)		 -0.41% 1.69% 0.30% 0.43% 0.70% 3.20% -0.54% -0.65% 0.63% 1.24% 2.07%
Return on Equity (ROE)		 4.29% 6.76% 5.47% 2.38% 3.26% 5.74% 2.79% 2.97% 4.66% 5.53% 6.39%
Cash Return on Invested Capital (CROIC)		 -0.78% 2.10% 4.35% -11.27% 6.12% -20.98% 3.00% -3.60% 4.93% 3.95% -5.43%
Operating Return on Assets (OROA)		 4.43% 4.81% 4.95% 1.87% 2.45% 2.42% 3.16% 3.42% 3.82% 4.08% 4.13%
Return on Assets (ROA)		 1.65% 2.75% 2.30% 1.89% 2.44% 2.41% 1.27% 1.25% 1.86% 2.17% 2.33%
Return on Common Equity (ROCE)		 4.08% 6.50% 5.28% 2.35% 3.25% 5.81% 2.82% 3.01% 4.79% 5.72% 6.66%
Return on Equity Simple (ROE_SIMPLE)		 4.24% 6.74% 5.64% 4.81% 6.78% 4.58% 2.80% 2.95% 4.58% 5.40% 6.19%
Net Operating Profit after Tax (NOPAT)		 84 94 98 40 55 60 89 100 115 122 129
NOPAT Margin		 32.18% 34.16% 33.19% 15.24% 9.79% 19.25% 25.71% 26.57% 27.15% 27.60% 28.22%
Net Nonoperating Expense Percent (NNEP)		 4.98% 3.80% 4.94% -0.10% 0.04% 0.01% 3.83% 4.14% 3.57% 3.42% 3.05%
SG&A Expenses to Revenue		 0.00% 0.00% 26.96% 32.17% 31.04% 29.35% 22.98% 23.14% 25.47% 26.93% 26.97%
Operating Expenses to Revenue		 67.82% 65.84% 66.81% 84.76% 90.21% 80.75% 74.29% 73.43% 72.85% 72.40% 71.78%
Earnings before Interest and Taxes (EBIT)		 84 94 98 40 55 60 89 100 115 122 129
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 150 156 171 124 162 151 167 201 229 237 253
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.70 1.61 1.84 0.56 1.89 1.71 1.18 1.60 1.17 1.08 1.36
Price to Tangible Book Value (P/TBV)		 1.70 1.61 1.84 0.56 1.89 1.71 1.18 1.60 1.17 1.08 1.36
Price to Revenue (P/Rev)		 4.81 4.66 5.05 5.36 2.72 7.20 4.28 5.27 3.37 2.93 3.49
Price to Earnings (P/E)		 57.53 33.35 45.69 48.17 32.59 49.36 53.29 69.84 32.76 25.67 28.16
Dividend Yield		 3.11% 3.35% 3.10% 3.53% 3.39% 3.03% 4.09% 3.54% 5.44% 6.20% 5.10%
Earnings Yield		 1.74% 3.00% 2.19% 2.08% 3.07% 2.03% 1.88% 1.43% 3.05% 3.90% 3.55%
Enterprise Value to Invested Capital (EV/IC)		 1.24 1.23 1.33 1.22 1.31 1.31 1.02 1.21 1.05 1.00 1.00
Enterprise Value to Revenue (EV/Rev)		 8.75 8.41 8.56 10.13 4.94 11.12 7.90 9.21 7.07 6.47 6.84
Enterprise Value to EBITDA (EV/EBITDA)		 15.21 14.84 14.76 21.39 16.98 23.08 16.30 17.20 13.04 12.03 12.40
Enterprise Value to EBIT (EV/EBIT)		 27.20 24.62 25.78 66.44 50.40 57.78 30.75 34.67 26.04 23.46 24.25
Enterprise Value to NOPAT (EV/NOPAT)		 27.20 24.62 25.78 66.44 50.40 57.78 30.75 34.67 26.04 23.46 24.25
Enterprise Value to Operating Cash Flow (EV/OCF)		 21.55 20.98 20.92 18.13 20.15 22.66 21.45 20.57 16.69 15.13 15.13
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 59.43 30.64 0.00 21.08 0.00 34.15 0.00 21.28 25.48 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.39 1.27 1.27 0.52 1.61 1.05 1.12 1.36 1.39 1.46 1.79
Long-Term Debt to Equity		 1.39 1.24 1.24 0.52 1.53 1.05 1.04 1.36 1.36 1.46 1.79
Financial Leverage		 1.45 1.33 1.27 0.21 0.28 1.26 1.09 1.24 1.38 1.43 1.62
Leverage Ratio		 2.60 2.45 2.38 1.26 1.34 2.38 2.20 2.37 2.51 2.55 2.75
Compound Leverage Factor		 2.60 2.45 2.38 1.26 1.34 2.38 2.20 2.37 2.51 2.55 2.75
Debt to Total Capital		 58.10% 56.01% 55.87% 34.35% 61.66% 51.21% 52.88% 57.68% 58.16% 59.42% 64.13%
Short-Term Debt to Total Capital		 0.00% 1.59% 1.05% 0.00% 2.98% 0.00% 3.73% 0.00% 1.20% 0.00% 0.00%
Long-Term Debt to Total Capital		 58.10% 54.42% 54.82% 34.35% 58.69% 51.21% 49.16% 57.68% 56.96% 59.42% 64.13%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.71% 1.56% 1.53% 0.27% -0.02% -0.76% -0.68% -1.01% -1.26% -1.55% -1.65%
Common Equity to Total Capital		 40.19% 42.43% 42.61% 65.38% 38.36% 49.63% 47.12% 43.33% 43.10% 42.13% 37.51%
Debt to EBITDA		 7.10 6.76 6.20 10.72 7.97 8.99 8.42 8.19 7.19 7.12 7.96
Net Debt to EBITDA		 6.63 6.43 5.88 9.98 7.61 8.27 7.59 7.50 6.98 6.77 6.28
Long-Term Debt to EBITDA		 7.10 6.57 6.09 10.72 7.58 8.99 7.82 8.19 7.04 7.12 7.96
Debt to NOPAT		 12.70 11.21 10.84 33.29 23.65 22.51 15.88 16.51 14.36 13.88 15.56
Net Debt to NOPAT		 11.86 10.66 10.28 30.98 22.60 20.70 14.31 15.12 13.93 13.20 12.27
Long-Term Debt to NOPAT		 12.70 10.89 10.63 33.29 22.51 22.51 14.76 16.51 14.07 13.88 15.56
Noncontrolling Interest Sharing Ratio		 4.77% 3.80% 3.50% 1.17% 0.30% -1.09% -0.87% -1.17% -2.70% -3.42% -4.20%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -14 39 82 -229 130 -498 80 -99 140 112 -162
Operating Cash Flow to CapEx		 73.00% 82.33% 202.37% 307.08% 250.88% 174.14% 200.01% 160.94% 157.38% 227.47% 295.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 -4.26 1.25 -9.22 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 2.71 1.31 2.85 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 1.83 0.79 1.21 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.14 0.14 0.15 0.12 0.25 0.13 0.12 0.13 0.14 0.15 0.15
Fixed Asset Turnover		 0.16 0.17 0.17 0.14 0.28 0.14 0.14 0.15 0.17 0.18 0.19
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,829 1,885 1,900 2,169 2,093 2,651 2,660 2,859 2,834 2,843 3,135
Invested Capital Turnover		 0.15 0.15 0.16 0.13 0.26 0.13 0.13 0.14 0.15 0.16 0.15
Increase / (Decrease) in Invested Capital		 98 55 16 269 -76 558 8.83 199 -26 9.69 292
Enterprise Value (EV)		 2,275 2,318 2,525 2,644 2,751 3,485 2,724 3,463 2,988 2,856 3,133
Market Capitalization		 1,252 1,284 1,489 1,401 1,518 2,257 1,474 1,982 1,425 1,293 1,599
Book Value per Share		 $16.86 $17.63 $17.74 $53.51 $17.00 $21.95 $20.79 $20.49 $20.18 $19.73 $19.31
Tangible Book Value per Share		 $16.86 $17.63 $17.74 $53.51 $17.00 $21.95 $20.79 $20.49 $20.18 $19.73 $19.31
Total Capital		 1,829 1,885 1,900 3,857 2,093 2,651 2,660 2,859 2,834 2,843 3,135
Total Debt		 1,063 1,056 1,062 1,325 1,291 1,358 1,407 1,649 1,648 1,690 2,011
Total Long-Term Debt		 1,063 1,026 1,042 1,325 1,228 1,358 1,308 1,649 1,614 1,690 2,011
Net Debt		 992 1,004 1,007 1,233 1,234 1,248 1,268 1,510 1,599 1,607 1,585
Capital Expenditures (CapEx)		 145 134 60 47 54 88 63 105 114 83 70
Net Nonoperating Expense (NNE)		 53 40 52 -0.33 0.17 0.12 53 63 59 57 56
Net Nonoperating Obligations (NNO)		 1,063 1,056 1,062 -363 1,291 1,358 1,407 1,649 1,648 1,690 2,011
Total Depreciation and Amortization (D&A)		 66 62 73 84 107 91 79 101 114 116 123
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.52 $0.87 $0.72 $0.62 $0.42 $0.84 $0.92 $0.47 $0.72 $0.84 $0.94
Adjusted Weighted Average Basic Shares Outstanding		 42.04M 44.44M 45.33M 46.72M 46.95M 54.11M 135.93M 59.99M 60.05M 60.16M 60.33M
Adjusted Diluted Earnings per Share		 $0.51 $0.86 $0.72 $0.62 $0.42 $0.84 $0.92 $0.47 $0.72 $0.84 $0.94
Adjusted Weighted Average Diluted Shares Outstanding		 59.95M 62.34M 63.23M 64.09M 64.14M 70.79M 152.24M 76.17M 76.23M 76.34M 76.51M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.84 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 43.57M 45.41M 46.43M 47.20M 47.33M 60.07M 60.47M 60.52M 60.72M 60.90M 61.14M
Normalized Net Operating Profit after Tax (NOPAT)		 59 66 69 28 38 42 62 70 80 85 90
Normalized NOPAT Margin		 22.53% 23.91% 23.23% 10.67% 6.86% 13.47% 18.00% 18.60% 19.00% 19.32% 19.75%
Pre Tax Income Margin		 32.18% 34.16% 33.19% 15.24% 9.79% 19.21% 25.71% 26.57% 27.15% 27.60% 28.22%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.74 0.52 1.12 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.74 0.52 1.12 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 -0.14 0.00 -0.52 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 -0.14 0.00 -0.52 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 174.38% 110.20% 140.41% 168.29% 129.09% 133.92% 214.99% 243.04% 175.83% 157.01% 141.95%
Augmented Payout Ratio		 174.38% 110.20% 140.41% 168.29% 129.52% 133.92% 214.99% 243.04% 175.83% 157.01% 141.95%

Quarterly Metrics And Ratios for American Assets Trust

This table displays calculated financial ratios and metrics derived from American Assets Trust's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -11.68% 6.19% 5.34% 0.16% 6.12% 2.73% 1.07% 10.44% 0.86% 38.29% -2.67%
EBITDA Growth		 -22.80% 4.48% 2.08% 0.97% 7.19% 1.93% 2.38% 16.94% 3.93% 76.75% -4.53%
EBIT Growth		 -38.46% 4.85% 11.22% 0.44% 8.60% 2.80% -2.22% 21.42% 2.20% 135.60% -15.64%
NOPAT Growth		 -38.46% 4.85% 11.22% 0.44% 8.60% 2.80% -2.22% 21.42% 2.20% 135.60% -15.64%
Net Income Growth		 18.40% 52.92% 13.31% -7.54% 8.75% 19.15% -0.67% 40.85% -14.14% 119.74% -53.44%
EPS Growth		 15.38% 50.00% 11.11% -4.76% 13.33% 18.52% 0.00% 40.00% -17.65% 118.75% -55.00%
Operating Cash Flow Growth		 -1.34% 32.74% -1.61% -5.56% 1.74% 5.41% 28.45% 1.19% 4.62% -32.69% -17.06%
Free Cash Flow Firm Growth		 134.02% -69.50% -69.46% -64.90% -62.66% 201.93% 253.60% -1,983.55% -1,426.60% 51.75% -28.07%
Invested Capital Growth		 -0.90% 0.44% 0.52% 0.44% 0.34% -0.76% -0.97% 13.65% 10.25% -0.25% -0.57%
Revenue Q/Q Growth		 -4.52% 1.65% 1.83% 1.35% 1.16% -1.60% 0.18% 10.75% -7.61% 34.92% -29.49%
EBITDA Q/Q Growth		 -8.21% 4.06% 5.25% 0.45% -2.56% -1.05% 5.72% 14.73% -13.40% 68.27% -42.90%
EBIT Q/Q Growth		 -12.68% 9.76% 5.98% -1.12% -5.58% 3.91% 0.80% 22.78% -20.52% 139.52% -63.91%
NOPAT Q/Q Growth		 -12.68% 9.76% 5.98% -1.12% -5.58% 3.91% 0.80% 22.78% -20.52% 139.52% -63.91%
Net Income Q/Q Growth		 -24.21% 66.58% -25.50% -1.70% -10.86% 82.50% -37.89% 39.39% -45.66% 367.08% -86.84%
EPS Q/Q Growth		 -28.57% 80.00% -25.93% 0.00% -15.00% 88.24% -37.50% 40.00% -50.00% 400.00% -87.14%
Operating Cash Flow Q/Q Growth		 -30.37% 36.11% -11.19% 12.21% -24.99% 41.01% 8.22% -11.60% -22.44% -9.28% 33.37%
Free Cash Flow Firm Q/Q Growth		 -0.89% -67.25% -4.20% 12.87% 5.43% 164.84% 12.19% -701.24% 25.74% 130.30% -46.82%
Invested Capital Q/Q Growth		 -0.41% 1.19% -0.10% -0.24% -0.50% 0.08% -0.32% 14.49% -3.47% -9.45% -0.63%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 51.99% 53.22% 55.01% 54.52% 52.51% 52.80% 55.72% 57.73% 54.11% 67.49% 54.66%
EBIT Margin		 25.54% 27.58% 28.70% 28.00% 26.14% 27.60% 27.77% 30.79% 26.48% 47.02% 24.07%
Profit (Net Income) Margin		 11.70% 19.18% 14.03% 13.61% 11.99% 22.24% 13.79% 17.36% 10.21% 35.34% 6.60%
Tax Burden Percent		 45.82% 69.55% 48.89% 48.60% 45.89% 80.60% 49.67% 56.38% 38.55% 75.18% 27.41%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 3.79% 4.13% 4.37% 4.27% 4.06% 4.29% 4.34% 4.61% 4.06% 8.28% 4.23%
ROIC Less NNEP Spread (ROIC-NNEP)		 2.90% 3.59% 3.40% 3.31% 3.11% 3.94% 3.42% 3.74% 3.06% 7.22% 3.11%
Return on Net Nonoperating Assets (RNNOA)		 4.00% 5.02% 4.78% 4.67% 4.44% 5.70% 4.98% 6.16% 4.97% 10.56% 4.62%
Return on Equity (ROE)		 7.79% 9.16% 9.14% 8.94% 8.50% 9.99% 9.32% 10.77% 9.02% 18.83% 8.85%
Cash Return on Invested Capital (CROIC)		 4.93% 3.62% 3.65% 3.75% 3.95% 5.05% 5.25% -8.56% -5.43% 6.26% 6.43%
Operating Return on Assets (OROA)		 3.59% 3.92% 4.14% 4.04% 3.86% 4.08% 4.12% 4.39% 3.88% 7.90% 4.02%
Return on Assets (ROA)		 1.65% 2.73% 2.03% 1.97% 1.77% 3.29% 2.05% 2.48% 1.49% 5.94% 1.10%
Return on Common Equity (ROCE)		 8.00% 9.42% 9.41% 9.21% 8.79% 10.34% 9.66% 11.18% 9.40% 19.57% 9.22%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 5.18% 5.34% 5.26% 0.00% 5.72% 5.75% 6.30% 0.00% 8.54% 7.95%
Net Operating Profit after Tax (NOPAT)		 27 30 31 31 29 31 31 38 30 72 26
NOPAT Margin		 25.54% 27.58% 28.70% 28.00% 26.14% 27.60% 27.77% 30.79% 26.48% 47.02% 24.07%
Net Nonoperating Expense Percent (NNEP)		 0.89% 0.54% 0.96% 0.96% 0.95% 0.35% 0.92% 0.87% 1.00% 1.06% 1.12%
SG&A Expenses to Revenue		 27.56% 25.53% 26.17% 26.90% 29.04% 26.96% 26.61% 25.54% 28.91% 19.79% 27.50%
Operating Expenses to Revenue		 74.46% 72.42% 71.30% 72.00% 73.86% 72.40% 72.23% 69.21% 73.52% 52.99% 75.93%
Earnings before Interest and Taxes (EBIT)		 27 30 31 31 29 31 31 38 30 72 26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 55 57 60 61 59 58 62 71 61 103 59
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.17 0.86 0.90 0.92 1.08 1.05 1.14 1.37 1.36 1.03 1.02
Price to Tangible Book Value (P/TBV)		 1.17 0.86 0.90 0.92 1.08 1.05 1.14 1.37 1.36 1.03 1.02
Price to Revenue (P/Rev)		 3.37 2.43 2.52 2.56 2.93 2.83 3.06 3.56 3.49 2.46 2.43
Price to Earnings (P/E)		 32.76 21.22 21.67 22.48 25.67 23.53 25.51 27.91 28.16 15.38 16.40
Dividend Yield		 5.44% 7.51% 7.21% 7.15% 6.20% 6.39% 5.94% 5.00% 5.10% 6.68% 6.84%
Earnings Yield		 3.05% 4.71% 4.61% 4.45% 3.90% 4.25% 3.92% 3.58% 3.55% 6.50% 6.10%
Enterprise Value to Invested Capital (EV/IC)		 1.05 0.91 0.93 0.93 1.00 0.99 1.02 0.97 1.00 0.96 0.96
Enterprise Value to Revenue (EV/Rev)		 7.07 6.07 6.12 6.15 6.47 6.32 6.50 6.91 6.84 5.45 5.43
Enterprise Value to EBITDA (EV/EBITDA)		 13.04 11.25 11.42 11.44 12.03 11.77 12.05 12.61 12.40 9.17 9.17
Enterprise Value to EBIT (EV/EBIT)		 26.04 22.44 22.30 22.37 23.46 22.89 23.73 24.54 24.25 15.99 16.28
Enterprise Value to NOPAT (EV/NOPAT)		 26.04 22.44 22.30 22.37 23.46 22.89 23.73 24.54 24.25 15.99 16.28
Enterprise Value to Operating Cash Flow (EV/OCF)		 16.69 13.58 13.92 14.20 15.13 14.65 14.13 15.37 15.13 14.42 15.08
Enterprise Value to Free Cash Flow (EV/FCFF)		 21.28 25.13 25.49 24.97 25.48 19.46 19.33 0.00 0.00 15.33 14.84
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.39 1.43 1.44 1.45 1.46 1.46 1.48 1.85 1.79 1.46 1.49
Long-Term Debt to Equity		 1.36 1.43 1.44 1.45 1.46 1.46 1.48 1.85 1.79 1.46 1.49
Financial Leverage		 1.38 1.40 1.40 1.41 1.43 1.45 1.46 1.65 1.62 1.46 1.48
Leverage Ratio		 2.51 2.53 2.53 2.54 2.55 2.57 2.59 2.78 2.75 2.58 2.61
Compound Leverage Factor		 2.51 2.53 2.53 2.54 2.55 2.57 2.59 2.78 2.75 2.58 2.61
Debt to Total Capital		 58.16% 58.86% 58.94% 59.10% 59.42% 59.40% 59.61% 64.96% 64.13% 59.40% 59.80%
Short-Term Debt to Total Capital		 1.20% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 56.96% 58.86% 58.94% 59.10% 59.42% 59.40% 59.61% 64.96% 64.13% 59.40% 59.80%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 -1.26% -1.30% -1.35% -1.42% -1.55% -1.55% -1.64% -1.50% -1.65% -1.62% -1.78%
Common Equity to Total Capital		 43.10% 42.45% 42.41% 42.32% 42.13% 42.15% 42.03% 36.54% 37.51% 42.22% 41.98%
Debt to EBITDA		 7.19 7.29 7.25 7.24 7.12 7.09 7.05 8.43 7.96 5.67 5.73
Net Debt to EBITDA		 6.98 6.91 6.89 6.85 6.77 6.67 6.57 6.30 6.28 5.19 5.24
Long-Term Debt to EBITDA		 7.04 7.29 7.25 7.24 7.12 7.09 7.05 8.43 7.96 5.67 5.73
Debt to NOPAT		 14.36 14.53 14.15 14.14 13.88 13.79 13.87 16.41 15.56 9.88 10.17
Net Debt to NOPAT		 13.93 13.78 13.44 13.39 13.20 12.99 12.93 12.26 12.27 9.04 9.31
Long-Term Debt to NOPAT		 14.07 14.53 14.15 14.14 13.88 13.79 13.87 16.41 15.56 9.88 10.17
Noncontrolling Interest Sharing Ratio		 -2.70% -2.83% -2.96% -3.10% -3.42% -3.49% -3.67% -3.87% -4.20% -3.91% -4.25%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 53 17 17 19 20 52 59 -352 -261 79 42
Operating Cash Flow to CapEx		 149.92% 211.95% 232.00% 261.31% 207.17% 500.76% 378.15% 214.46% 212.19% 224.20% 236.24%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.14 0.14 0.14 0.14 0.15 0.15 0.15 0.14 0.15 0.17 0.17
Fixed Asset Turnover		 0.17 0.17 0.17 0.17 0.18 0.18 0.18 0.18 0.19 0.20 0.20
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2,834 2,867 2,864 2,858 2,843 2,846 2,837 3,248 3,135 2,838 2,820
Invested Capital Turnover		 0.15 0.15 0.15 0.15 0.16 0.16 0.16 0.15 0.15 0.18 0.18
Increase / (Decrease) in Invested Capital		 -26 12 15 12 9.69 -22 -28 390 292 -7.25 -16
Enterprise Value (EV)		 2,988 2,605 2,660 2,671 2,856 2,806 2,892 3,155 3,133 2,727 2,700
Market Capitalization		 1,425 1,043 1,095 1,113 1,293 1,259 1,363 1,627 1,599 1,231 1,207
Book Value per Share		 $20.18 $20.05 $20.01 $19.91 $19.73 $19.89 $19.58 $19.48 $19.31 $19.60 $19.37
Tangible Book Value per Share		 $20.18 $20.05 $20.01 $19.91 $19.73 $19.89 $19.58 $19.48 $19.31 $19.60 $19.37
Total Capital		 2,834 2,867 2,864 2,858 2,843 2,846 2,837 3,248 3,135 2,838 2,820
Total Debt		 1,648 1,688 1,688 1,689 1,690 1,690 1,691 2,110 2,011 1,686 1,687
Total Long-Term Debt		 1,614 1,688 1,688 1,689 1,690 1,690 1,691 2,110 2,011 1,686 1,687
Net Debt		 1,599 1,600 1,604 1,599 1,607 1,592 1,576 1,577 1,585 1,542 1,543
Capital Expenditures (CapEx)		 25 25 20 20 19 11 16 24 19 16 21
Net Nonoperating Expense (NNE)		 15 9.05 16 16 16 5.93 16 16 18 18 19
Net Nonoperating Obligations (NNO)		 1,648 1,688 1,688 1,689 1,690 1,690 1,691 2,110 2,011 1,686 1,687
Total Depreciation and Amortization (D&A)		 28 28 29 29 30 28 31 33 31 31 33
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.15 $0.27 $0.20 $0.20 $0.17 $0.32 $0.20 $0.28 $0.14 $0.70 $0.09
Adjusted Weighted Average Basic Shares Outstanding		 60.05M 60.14M 60.15M 60.15M 60.16M 60.31M 60.31M 60.32M 60.33M 60.54M 60.54M
Adjusted Diluted Earnings per Share		 $0.15 $0.27 $0.20 $0.20 $0.17 $0.32 $0.20 $0.28 $0.14 $0.70 $0.09
Adjusted Weighted Average Diluted Shares Outstanding		 76.23M 76.33M 76.33M 76.33M 76.34M 76.49M 76.49M 76.50M 76.51M 76.72M 76.72M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 60.72M 60.72M 60.72M 60.72M 60.90M 60.89M 60.90M 60.90M 61.14M 61.13M 61.15M
Normalized Net Operating Profit after Tax (NOPAT)		 19 21 22 22 21 21 22 26 21 50 18
Normalized NOPAT Margin		 17.88% 19.30% 20.09% 19.60% 18.29% 19.32% 19.44% 21.55% 18.54% 32.91% 16.85%
Pre Tax Income Margin		 25.54% 27.58% 28.70% 28.00% 26.14% 27.60% 27.77% 30.79% 26.48% 47.02% 24.07%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 175.83% 157.20% 154.09% 158.39% 157.01% 148.61% 149.48% 137.70% 141.95% 101.50% 110.81%
Augmented Payout Ratio		 175.83% 157.20% 154.09% 158.39% 157.01% 148.61% 149.48% 137.70% 141.95% 101.50% 110.81%

Key Financial Trends

American Assets Trust (NYSE:AAT) has exhibited some noteworthy financial trends over the past four years. Here are the key takeaways from its recent quarterly financial statements up to Q2 2025:

  • Consistent Positive Net Income: The company has maintained positive consolidated net income across all recent quarters, with net income of $7.1 million in Q2 2025, supported by continuing operations income.
  • Strong Operating Cash Flow: Net cash from continuing operating activities remains robust, with $49.17 million in Q2 2025 and previous quarters also showing solid cash generation, indicating healthy core business cash flow.
  • Stable Dividend Policy: The company consistently paid dividends of about $0.33 to $0.34 per common share per quarter, providing steady shareholder returns.
  • Increasing Premises and Equipment Assets: The net value of premises and equipment has generally increased from about $2.54 billion in Q3 2022 to approximately $2.57 billion by Q2 2025, showing ongoing investment in property assets.
  • Solid Total Equity Base: Total common equity has remained stable around $1.18 to $1.21 billion recently, reflecting a strong equity foundation for operations and growth.
  • Zero Interest Income and Expense: The company reports no interest income or interest expense in recent quarters, possibly indicating a non-bank REIT focused on real estate rather than lending activities.
  • Moderate Non-Interest Income Growth: Other non-interest income fluctuates but remains a substantial portion of revenue (over $100 million quarterly), showing a diversified income stream.
  • Steady Depreciation Expense: Depreciation expenses are consistently around $30 million per quarter, reflecting ongoing asset wear and tear in a capital-intensive industry.
  • Decreasing Net Income in Recent Quarters: Net income fell from about $54 million in Q1 2025 to $7.1 million in Q2 2025, indicating a sharp quarterly earnings drop that could concern investors.
  • High Debt Levels: Long-term debt remains high, around $1.69 billion in recent quarters, with significant repayments and issuances, pointing to substantial leverage and interest rate exposure.

Overall, American Assets Trust shows stable operational cash flow generation and a consistent dividend payout, underpinned by a solid asset base. However, recent quarterly net income volatility and ongoing high leverage warrant monitoring. Investors should watch for management's strategies to optimize earnings and manage debt levels while maintaining asset growth.

08/29/25 12:02 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About American Assets Trust's Financials

When does American Assets Trust's fiscal year end?

According to the most recent income statement we have on file, American Assets Trust's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has American Assets Trust's net income changed over the last 10 years?

American Assets Trust's net income appears to be on an upward trend, with a most recent value of $72.82 million in 2024, rising from $31.15 million in 2014. The previous period was $64.69 million in 2023. See American Assets Trust's forecast for analyst expectations on what’s next for the company.

How has American Assets Trust's revenue changed over the last 10 years?

Over the last 10 years, American Assets Trust's total revenue changed from $260 million in 2014 to $457.86 million in 2024, a change of 76.1%.

How much debt does American Assets Trust have?

American Assets Trust's total liabilities were at $2.15 billion at the end of 2024, a 17.4% increase from 2023, and a 82.9% increase since 2014.

How much cash does American Assets Trust have?

In the past 10 years, American Assets Trust's cash and equivalents has ranged from $39.93 million in 2015 to $425.66 million in 2024, and is currently $425.66 million as of their latest financial filing in 2024.

How has American Assets Trust's book value per share changed over the last 10 years?

Over the last 10 years, American Assets Trust's book value per share changed from 16.86 in 2014 to 19.31 in 2024, a change of 14.5%.


Related Companies

This page (NYSE:AAT) was last updated on 8/29/2025 by MarketBeat.com Staff
From Our Partners
Musk’s Project Colossus could mint millionaires
I predict this single breakthrough could make Elon the world’s first trillionaire — and mint more new milliona...
Brownstone Research | Sponsoredtc pixel
INVESTOR ALERT: Tiny “$3 AI Wonder Stock” on the Verge of Blasting Off
Right now, we’re witnessing a monumental shift in the world.
Traders Agency | Sponsoredtc pixel
BONUS GUIDE - Ben Stein Prepares For the Next Financial Crisis
With inflation high, debt soaring, and global tensions rising, a financial storm may be brewing. Economist ...
Goldco Precious Metals | Sponsoredtc pixel
This is my Christian duty
“This land I will give to you…” — a 4,000-year-old line from Genesis may hold the key to unlocking a $150 tril...
Paradigm Press | Sponsoredtc pixel
Everyone’s watching Nvidia right now. Here’s why I’m excited.
So, unless you’ve been living under a rock, you probably saw the news… Nvidia just signed a $7 BILLION deal...
Timothy Sykes | Sponsoredtc pixel
Alex’s “Next Magnificent Seven” stocks
The original “Magnificent Seven” turned $7K into $1.18 million. Now, Alex Green has identified AI’s Next Ma...
The Oxford Club | Sponsoredtc pixel
Elon’s Secret Social Security Bombshell
To All Americans Born Before April 16th, 1963: Did Trump Just Give The Green Light To Radically RE-DO Social S...
Banyan Hill Publishing | Sponsoredtc pixel
Out of 18,347 Cryptocurrencies... This is the ONLY One
The Single Most Undervalued DeFi Protocol You've Never Heard Of If there's one cryptocurrency you should b...
Crypto 101 Media | Sponsoredtc pixel