American Assets Trust (AAT) Operating Margin (2010 - 2025)
American Assets Trust (AAT) reported Operating Margin of 21.09% for Q4 2025, down 540.0% on a YoY basis from 4.79% in Q4 2024, and down 6.7% quarter-over-quarter from 22.6% in Q3 2025.
American Assets Trust (AAT) Operating Margin (2010 - 2025) Analysis & Trends
American Assets Trust has reported Operating Margin for 16 years, with the latest figure at 21.09% in Q4 2025.
- For the quarter ending Q4 2025, Operating Margin fell 540.0% year-over-year to 21.09%; the trailing twelve-month figure through Dec 2025 stood at 22.5% (down 571.0% YoY), and the FY2025 full-year result was 33.45%, up 524.0% from the prior year.
- Operating Margin for Q4 2025 stood at 21.09%, down from 22.6% in the prior quarter.
- The five-year high for Operating Margin was 30.79% in Q3 2024, with the low at 44.29% in Q1 2025.
- Historically, Operating Margin has averaged 18.35% across 5 years, with a median of 26.31% in 2024.
- Annual changes were most pronounced in 2022 — Operating Margin surged 6062 bps — and 2025, when it plunged 7189 bps.
- American Assets Trust's Operating Margin stood at 25.27% in 2021, then rose by 1 bps to 25.54% in 2022, then increased by 2 bps to 26.13% in 2023, then gained by 1 bps to 26.48% in 2024, then declined by 20 bps to 21.09% in 2025.
- The last three Operating Margin figures came in at 21.09% (Q4 2025), 22.6% (Q3 2025), and 24.07% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Vici Properties | 29.90 Bn | 29.42 Bn | 1.01 Bn | 97.70% |
| 2 | Broadstone Net Lease | 4.01 Bn | 4.11 Bn | - | - |
| 3 | American Assets Trust | 1.48 Bn | 1.42 Bn | - | 21.09% |
| 4 | Safehold | 1.14 Bn | 1.15 Bn | 109.54 Mn | 23.05% |
| 5 | Empire State Realty Trust | 973.69 Mn | 1.70 Bn | - | 15.48% |
| 6 | JBG SMITH Properties | 887.28 Mn | 1.38 Bn | - | - |
| 7 | CTO Realty Growth | 676.07 Mn | 676.07 Mn | 31.01 Mn | 25.00% |
| 8 | Gladstone Commercial | 618.88 Mn | 788.92 Mn | - | - |
| 9 | AH Realty Trust | 547.30 Mn | 729.64 Mn | - | 22.22% |
| 10 | One Liberty Properties | 515.72 Mn | 495.45 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 21.09% |
| Sep 30, 2025 | 22.60% |
| Jun 30, 2025 | 24.07% |
| Mar 31, 2025 | -44.29% |
| Dec 31, 2024 | 26.48% |
| Sep 30, 2024 | 30.79% |
| Jun 30, 2024 | 27.77% |
| Mar 31, 2024 | 27.60% |
| Dec 31, 2023 | 26.13% |
| Sep 30, 2023 | 28.00% |
| Jun 30, 2023 | 28.70% |
| Mar 31, 2023 | 27.58% |
| Dec 31, 2022 | 25.54% |
| Sep 30, 2022 | 27.92% |
| Jun 30, 2022 | 27.19% |
| Mar 31, 2022 | -5.47% |
| Dec 31, 2021 | 25.27% |
| Sep 30, 2021 | -32.69% |
| Jun 30, 2021 | 28.78% |
| Mar 31, 2021 | 23.89% |