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Side-by-side financial comparison of American Assets Trust, Inc. (AAT) and Powerfleet, Inc. (AIOT). Click either name above to swap in a different company.
Powerfleet, Inc. is the larger business by last-quarter revenue ($113.5M vs $110.6M, roughly 1.0× American Assets Trust, Inc.). American Assets Trust, Inc. runs the higher net margin — 6.1% vs -3.0%, a 9.1% gap on every dollar of revenue. On growth, Powerfleet, Inc. posted the faster year-over-year revenue change (6.6% vs 1.8%). Over the past eight quarters, Powerfleet, Inc.'s revenue compounded faster (81.2% CAGR vs -0.1%).
Personal Assets Trust is a large British investment trust. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The chairman is Iain Ferguson CBE.
Powerfleet, Inc. is an American company headquartered in Woodcliff Lake, New Jersey, that operates as a global provider of IoT and M2M solutions for securing, controlling, and tracking high-value enterprise assets. The company is a provider in the international telematics industry, providing fleet management, asset tracking, freight visibility, and driver behavior monitoring for industrial trucks, vehicle fleets, and shipping containers.
AAT vs AIOT — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $110.6M | $113.5M |
| Net Profit | $6.7M | $-3.4M |
| Gross Margin | — | 55.2% |
| Operating Margin | 23.4% | 5.6% |
| Net Margin | 6.1% | -3.0% |
| Revenue YoY | 1.8% | 6.6% |
| Net Profit YoY | -16.3% | 76.6% |
| EPS (diluted) | $0.08 | $-0.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $110.6M | — | ||
| Q4 25 | $110.1M | $113.5M | ||
| Q3 25 | $109.6M | $111.7M | ||
| Q2 25 | $107.9M | $104.1M | ||
| Q1 25 | $108.6M | $103.6M | ||
| Q4 24 | $113.5M | $106.4M | ||
| Q3 24 | $122.8M | $77.0M | ||
| Q2 24 | $110.9M | $75.4M |
| Q1 26 | $6.7M | — | ||
| Q4 25 | — | $-3.4M | ||
| Q3 25 | $4.5M | $-4.3M | ||
| Q2 25 | $5.5M | $-10.2M | ||
| Q1 25 | $42.5M | $-12.4M | ||
| Q4 24 | — | $-14.3M | ||
| Q3 24 | $16.7M | $-1.9M | ||
| Q2 24 | $11.9M | $-22.3M |
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | 55.2% | ||
| Q3 25 | 60.5% | 56.0% | ||
| Q2 25 | 62.6% | 54.2% | ||
| Q1 25 | 62.0% | 52.8% | ||
| Q4 24 | 61.3% | 55.2% | ||
| Q3 24 | 65.5% | 53.7% | ||
| Q2 24 | 63.6% | 52.6% |
| Q1 26 | 23.4% | — | ||
| Q4 25 | 21.1% | 5.6% | ||
| Q3 25 | 22.6% | 3.8% | ||
| Q2 25 | 24.1% | -2.0% | ||
| Q1 25 | 66.3% | -6.7% | ||
| Q4 24 | 26.5% | -1.2% | ||
| Q3 24 | 30.8% | 0.7% | ||
| Q2 24 | 27.8% | -24.2% |
| Q1 26 | 6.1% | — | ||
| Q4 25 | — | -3.0% | ||
| Q3 25 | 4.1% | -3.8% | ||
| Q2 25 | 5.1% | -9.8% | ||
| Q1 25 | 39.2% | -12.0% | ||
| Q4 24 | — | -13.5% | ||
| Q3 24 | 13.6% | -2.5% | ||
| Q2 24 | 10.7% | -29.6% |
| Q1 26 | $0.08 | — | ||
| Q4 25 | $0.06 | $-0.03 | ||
| Q3 25 | $0.07 | $-0.03 | ||
| Q2 25 | $0.09 | $-0.08 | ||
| Q1 25 | $0.70 | $-0.09 | ||
| Q4 24 | $0.14 | $-0.11 | ||
| Q3 24 | $0.28 | $-0.02 | ||
| Q2 24 | $0.20 | $-0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $118.3M | $31.2M |
| Total DebtLower is stronger | — | $237.8M |
| Stockholders' EquityBook value | $1.1B | $485.0M |
| Total Assets | $2.9B | $959.5M |
| Debt / EquityLower = less leverage | — | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $118.3M | — | ||
| Q4 25 | $129.4M | $31.2M | ||
| Q3 25 | $138.7M | $27.9M | ||
| Q2 25 | $143.7M | $31.2M | ||
| Q1 25 | $143.9M | $44.4M | ||
| Q4 24 | $425.7M | $33.6M | ||
| Q3 24 | $533.0M | $26.0M | ||
| Q2 24 | $114.9M | $30.2M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $237.8M | ||
| Q3 25 | — | $238.2M | ||
| Q2 25 | — | $239.0M | ||
| Q1 25 | — | $237.5M | ||
| Q4 24 | $2.0B | $238.5M | ||
| Q3 24 | — | $113.6M | ||
| Q2 24 | — | $113.7M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.2B | $485.0M | ||
| Q3 25 | $1.2B | $468.8M | ||
| Q2 25 | $1.2B | $460.7M | ||
| Q1 25 | $1.2B | $446.6M | ||
| Q4 24 | $1.2B | $458.4M | ||
| Q3 24 | $1.2B | $451.0M | ||
| Q2 24 | $1.2B | $390.4M |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $959.5M | ||
| Q3 25 | $2.9B | $936.9M | ||
| Q2 25 | $3.0B | $930.8M | ||
| Q1 25 | $3.0B | $910.1M | ||
| Q4 24 | $3.3B | $908.7M | ||
| Q3 24 | $3.4B | $748.3M | ||
| Q2 24 | $3.0B | $684.9M |
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | 0.49× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | 1.72× | 0.52× | ||
| Q3 24 | — | 0.25× | ||
| Q2 24 | — | 0.29× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $10.2M |
| Free Cash FlowOCF − Capex | — | $4.9M |
| FCF MarginFCF / Revenue | — | 4.4% |
| Capex IntensityCapex / Revenue | 14.5% | 4.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $12.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $167.1M | $10.2M | ||
| Q3 25 | $40.5M | $5.5M | ||
| Q2 25 | $49.2M | $4.7M | ||
| Q1 25 | $36.9M | $13.5M | ||
| Q4 24 | $207.1M | $-6.1M | ||
| Q3 24 | $52.4M | $-3.2M | ||
| Q2 24 | $59.3M | $-7.6M |
| Q1 26 | — | — | ||
| Q4 25 | $94.9M | $4.9M | ||
| Q3 25 | $23.1M | $1.2M | ||
| Q2 25 | $28.4M | $-3.4M | ||
| Q1 25 | $20.4M | $10.1M | ||
| Q4 24 | $136.9M | $-12.2M | ||
| Q3 24 | $28.0M | $-8.0M | ||
| Q2 24 | $43.6M | $-13.2M |
| Q1 26 | — | — | ||
| Q4 25 | 86.2% | 4.4% | ||
| Q3 25 | 21.1% | 1.1% | ||
| Q2 25 | 26.3% | -3.3% | ||
| Q1 25 | 18.8% | 9.8% | ||
| Q4 24 | 120.7% | -11.5% | ||
| Q3 24 | 22.8% | -10.4% | ||
| Q2 24 | 39.3% | -17.5% |
| Q1 26 | 14.5% | — | ||
| Q4 25 | 65.6% | 4.6% | ||
| Q3 25 | 15.9% | 3.9% | ||
| Q2 25 | 19.3% | 7.8% | ||
| Q1 25 | 15.1% | 3.3% | ||
| Q4 24 | 61.9% | 5.8% | ||
| Q3 24 | 19.9% | 6.3% | ||
| Q2 24 | 14.1% | 7.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.98× | — | ||
| Q2 25 | 9.01× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.15× | — | ||
| Q2 24 | 4.98× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AAT
| Rental income | $104.4M | 94% |
| Other | $6.2M | 6% |
AIOT
| Services | $91.1M | 80% |
| Products | $22.4M | 20% |
