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American Assets Trust AAT Office — CapEx

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Other financials

Income statement

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Revenue$110.6M+1.8%
Gross profit$66.9M-0.6%
Operating income$25.8M-64.1%
Net income$6.7M-84.2%
EPS (diluted)$0.08-88.6%

Balance sheet

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Cash & equivalents$118.3M-17.8%
Total debt$18.0M-9.6%
Total equity$1.1B-5.2%
Total assets$2.9B-2.3%

Cash flow

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Operating cash flow$38.6M+4.7%
CapEx$20.4M+24.3%
Free cash flow$18.2M-11.1%

Valuation

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Market cap$1.5B+21.0%
Enterprise value$1.4B+25.4%
P/E75.4×+59.9×
P/S3.4×+0.7×

Profitability

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Gross margin60.8%-2.4pp
Operating margin22.8%-14.7pp
Net margin4.5%-13.0pp
FCF margin21.1%-3.8pp

Returns & leverage

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Return on equity1.7%-5.0pp
Debt / equity0.0×

Where this comes from

Reported directly by American Assets Trust in its filing.

Tagged under the XBRL concept us-gaap:SegmentExpenditureAdditionToLongLivedAssets.

The official record: American Assets Trust’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is American Assets Trust's office — capex?
American Assets Trust (AAT) reported office — capex of $19.8M in Q1 2026.
How has American Assets Trust's office — capex changed year-over-year?
American Assets Trust's office — capex increased by 38.4% year-over-year, from $14.31M to $19.8M.
What is the long-term trend for American Assets Trust's office — capex?
Over 3 years (2022 to 2025), American Assets Trust's office — capex has grown at a -15.6% compound annual growth rate (CAGR), from $102.44M to $61.51M.
What does office — capex mean?
These are the funds invested in the office segment for property improvements, renovations, and tenant build-outs to maintain or enhance asset value. This metric indicates the level of reinvestment required to keep properties competitive in the market. High capital expenditures may be necessary for long-term value preservation or repositioning.