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American Assets Trust AAT Q4 2025 earnings

Reported February 3, 2026 · After market close

Revenue$110.1MBeat by $1.4M
EPS$0.47Miss by $0.01
Revenue estimate$108.7M
EPS estimate$0.48

Next report

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

Financials

Q4 2025

Income statement

See full
Revenue$110.1M-3.0%
Gross profit$65.4M-6.0%
Operating income$23.2M-22.7%
Net income$3.1M-64.9%
EPS (diluted)$0.05-66.7%

Balance sheet

See full
Cash & equivalents$129.4M-69.6%
Total debt$18.8M-9.0%
Total equity$1.2B-2.1%
Total assets$2.9B-10.8%

Cash flow

See full
Operating cash flow$40.6M-0.2%
CapEx$17.6M-8.3%
Free cash flow$23.0M+7.0%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$1.16B-27.6%
Enterprise value$1.05B-12.3%
P/E20.8×-7.4×
P/S2.7×-0.8×

Profitability

See full
Gross margin61.1%-2.2pp
Operating margin33.5%+5.2pp
Net margin12.8%+0.4pp
FCF margin21.7%-8.2pp

Returns & leverage

See full
Return on equity4.8%0.0pp
Debt / equity0×0.0×

Segments

By segment

See full
Office$52.0M+0.6%
Retail$24.3M-15.6%
Multifamily$17.3M+5.8%
Mixed-use$16.4M-0.8%

Versus estimates

Revenue

Q2 2026$109.5MMiss by $1.2MQ1 2026$110.6MBeat by $816.5K
Q4 2025$110.1MBeat by $1.4M
Q3 2025$109.6MBeat by $2.7MQ2 2025$107.9MMiss by $1.5MQ1 2025$108.6MMiss by $3.4M

Diluted EPS

Q2 2026$0.09Miss by $0.01Q1 2026$0.51In line
Q4 2025$0.47Miss by $0.01
Q3 2025$0.49In lineQ2 2025$0.52Beat by $0.03Q1 2025$0.52Beat by $0.07

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Questions, answered.

When did American Assets Trust report Q4 2025 earnings?
American Assets Trust (AAT) reported Q4 2025 earnings on February 3, 2026 after market close.
What were American Assets Trust's Q4 2025 revenue and EPS?
American Assets Trust reported revenue of $110.1M and eps of $0.47 for Q4 2025.
Did American Assets Trust beat estimates in Q4 2025?
Revenue beat the consensus estimate of $108.7M by $1.4M. EPS missed the consensus estimate of $0.48 by $0.01.
How did American Assets Trust's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 3.0% from $113.5M a year earlier and eps declined 14.5% from $0.55.
Where can I find American Assets Trust's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001500217-26-000004) directly on SEC EDGAR. The filing index links above go to sec.gov.