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American Assets Trust AAT Q3 2025 earnings

Reported October 28, 2025 · After market close

Revenue$109.6MBeat by $2.7M
EPS$0.49In line
Revenue estimate$106.9M
EPS estimate$0.49

Next report

Oct 27, 2026 (in 3 months)
Revenue estimate$111.8M
EPS estimate$0.10

Financials

Q3 2025

Income statement

See full
Revenue$109.6M-10.8%
Gross profit$66.3M-17.6%
Operating income$24.8M-34.5%
Net income$4.5M-72.9%
EPS (diluted)$0.07-75.0%

Balance sheet

See full
Cash & equivalents$138.7M-74.0%
Total debt$19.5M-8.5%
Total equity$1.2B-1.5%
Total assets$2.9B-13.4%

Cash flow

See full
Operating cash flow$40.5M-22.7%
CapEx$17.4M-28.7%
Free cash flow$23.1M-17.5%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$1.24B-23.6%
Enterprise value$1.12B+0.7%
P/E20.2×-7.7×
P/S2.8×-0.7×

Profitability

See full
Gross margin61.6%-1.7pp
Operating margin34.8%+6.6pp
Net margin14%+1.2pp
FCF margin21.2%-8.4pp

Returns & leverage

See full
Return on equity5.2%+0.4pp
Debt / equity0×0.0×

Segments

By segment

See full
Office$52.3M-14.4%
Retail$23.1M-16.5%
Multifamily$17.4M+6.6%
Mixed-use$16.8M-5.5%

Versus estimates

Revenue

Q2 2026$109.5MMiss by $1.2MQ1 2026$110.6MBeat by $816.5KQ4 2025$110.1MBeat by $1.4M
Q3 2025$109.6MBeat by $2.7M
Q2 2025$107.9MMiss by $1.5MQ1 2025$108.6MMiss by $3.4M

Diluted EPS

Q2 2026$0.09Miss by $0.01Q1 2026$0.51In lineQ4 2025$0.47Miss by $0.01
Q3 2025$0.49In line
Q2 2025$0.52Beat by $0.03Q1 2025$0.52Beat by $0.07

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Questions, answered.

When did American Assets Trust report Q3 2025 earnings?
American Assets Trust (AAT) reported Q3 2025 earnings on October 28, 2025 after market close.
What were American Assets Trust's Q3 2025 revenue and EPS?
American Assets Trust reported revenue of $109.6M and eps of $0.49 for Q3 2025.
Did American Assets Trust beat estimates in Q3 2025?
Revenue beat the consensus estimate of $106.9M by $2.7M. EPS beat the consensus estimate of $0.49 by $0.00.
How did American Assets Trust's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 10.8% from $122.8M a year earlier and eps declined 31.0% from $0.71.
Where can I find American Assets Trust's Q3 2025 SEC filings?
You can read the 10-Q periodic report (0001500217-25-000066) directly on SEC EDGAR. The filing index links above go to sec.gov.