American Assets Trust, Inc. (AAT) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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AAT Revenue Growth
Revenue Breakdown (FY 2025)
AAT's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
AAT Revenue Analysis (2014–2025)
As of May 8, 2026, American Assets Trust, Inc. (AAT) generated trailing twelve-month (TTM) revenue of $436.2 million, reflecting slight decline in growth of -3.0% year-over-year. The most recent quarter (Q4 2025) recorded $110.1 million in revenue, up 0.5% sequentially.
Looking at the longer-term picture, AAT's 5-year compound annual growth rate (CAGR) stands at +4.8%, indicating moderate growth over time. The company achieved its highest annual revenue of $457.9 million in 2024.
Revenue diversification analysis shows AAT's business is primarily driven by Office Segment (47%), Retail Segment (22%), and Multifamily Segment (16%).
When compared to Real Estate sector peers including ESRT (-0.0% YoY), UE (+7.3% YoY), and PECO (+8.9% YoY), AAT has underperformed the peer group in terms of revenue growth. Compare AAT vs ESRT →
AAT Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| AATCurrent | $436M | -3.0% | +4.8% | 33.5% | |
 ESRT | $768M | -0.0% | +4.7% | 17.7% | |
 UE | $472M | +7.3% | +7.4% | 26.8% | |
 PECO | $732M | +8.9% | +8.0% | 27.2% | |
 WHLR | $100M | -4.9% | +10.5% | 36.4% | |
 NXRT | $251M | -0.7% | +4.2% | 11.1% |
AAT Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $436.2M | -4.7% | $266.6M | 61.1% | $145.9M | 33.5% |
| 2024 | $457.9M | +3.8% | $290.1M | 63.4% | $129.2M | 28.2% |
| 2023 | $441.2M | +4.4% | $277.2M | 62.8% | $121.7M | 27.6% |
| 2022 | $422.6M | +12.5% | $270.2M | 63.9% | $114.7M | 27.1% |
| 2021 | $375.8M | +9.1% | $246.1M | 65.5% | $99.9M | 26.6% |
| 2020 | $344.6M | -6.0% | $223.5M | 64.8% | $88.6M | 25.7% |
| 2019 | $366.7M | +10.8% | $234.8M | 64.0% | $113.7M | 31.0% |
| 2018 | $330.9M | +5.0% | $209.4M | 63.3% | $79.5M | 24.0% |
| 2017 | $315.0M | +6.7% | $198.3M | 63.0% | $93.6M | 29.7% |
| 2016 | $295.1M | +7.1% | $187.2M | 63.4% | $97.9M | 33.2% |
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Start ComparisonAAT — Frequently Asked Questions
Quick answers to the most common questions about buying AAT stock.
Is AAT's revenue growth accelerating or slowing?
AAT revenue growth slowed to -3.0%, below the 5-year CAGR of +4.8%. TTM revenue is $436M. The deceleration marks a shift from historical growth rates.
What is AAT's long-term revenue growth rate?
American Assets Trust, Inc.'s 5-year revenue CAGR of +4.8% reflects the variable expansion pattern. Current YoY growth of -3.0% is near this long-term average.
How is AAT's revenue distributed by segment?
AAT reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.