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American Assets Trust AAT Operating margin

Operating margin at other companies

Acadia Realty Trust logo
Acadia Realty TrustAKR
18%+3.3pp
Centerspace logo
CenterspaceCSR
28.5%+21.7pp
Global Net Lease logo
Global Net LeaseGNL
36%+17.3pp
InvenTrust Properties logo
InvenTrust PropertiesIVT
22.5%+16.3pp
Essential Properties Realty Trust logo
Essential Properties Realty TrustEPRT
62.6%+0.5pp

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-8.2%
Enterprise value$1.4B-7.0%
P/E75.4×+55.0×
P/S3.4×-0.2×

Profitability

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Gross margin60.8%-2.4pp
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

Calculated from American Assets Trust’s reported figures.

Based on trailing twelve months.

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 operating margin?
American Assets Trust (AAT) reported operating margin of 22.8% in Q1 2026.
How has American Assets Trust's operating margin changed year-over-year?
American Assets Trust's operating margin decreased by 39.2% year-over-year, from 37.4% to 22.8%.
What is the long-term trend for American Assets Trust's operating margin?
Over 5 years (2020 to 2025), American Assets Trust's operating margin has grown at a 5.4% compound annual growth rate (CAGR), from 25.7% to 33.5%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.