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Side-by-side financial comparison of American Assets Trust, Inc. (AAT) and AvalonBay Communities (AVB). Click either name above to swap in a different company.
American Assets Trust, Inc. is the larger business by last-quarter revenue ($9.6M vs $1.8M, roughly 5.3× AvalonBay Communities). On growth, AvalonBay Communities posted the faster year-over-year revenue change (5.5% vs -5.5%). AvalonBay Communities produced more free cash flow last quarter ($322.5M vs $23.0M). Over the past eight quarters, AvalonBay Communities's revenue compounded faster (1.1% CAGR vs -5.2%).
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.
AvalonBay Communities, Inc. is a publicly traded real estate investment trust that invests in apartments.
AAT vs AVB — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $9.6M | $1.8M |
| Net Profit | — | $166.0M |
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Margin | — | 9040.6% |
| Revenue YoY | -5.5% | 5.5% |
| Net Profit YoY | — | -41.2% |
| EPS (diluted) | $0.06 | $1.18 |
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.
| Q4 25 | $9.6M | $1.8M | ||
| Q3 25 | $10.1M | $1.9M | ||
| Q2 25 | $10.2M | $1.6M | ||
| Q1 25 | $9.9M | $1.7M | ||
| Q4 24 | $10.2M | $1.7M | ||
| Q3 24 | $11.4M | $1.7M | ||
| Q2 24 | $10.6M | $1.8M | ||
| Q1 24 | $10.7M | $1.8M |
| Q4 25 | — | $166.0M | ||
| Q3 25 | $4.5M | $381.3M | ||
| Q2 25 | $5.5M | $268.7M | ||
| Q1 25 | $42.5M | $236.6M | ||
| Q4 24 | — | $282.1M | ||
| Q3 24 | $16.7M | $372.5M | ||
| Q2 24 | $11.9M | $253.9M | ||
| Q1 24 | $19.3M | $173.4M |
| Q4 25 | — | 9040.6% | ||
| Q3 25 | 44.6% | 20390.7% | ||
| Q2 25 | 53.2% | 16854.8% | ||
| Q1 25 | 429.3% | 13581.9% | ||
| Q4 24 | — | 16212.2% | ||
| Q3 24 | 145.5% | 21708.6% | ||
| Q2 24 | 111.9% | 13876.2% | ||
| Q1 24 | 179.4% | 9662.9% |
| Q4 25 | $0.06 | $1.18 | ||
| Q3 25 | $0.07 | $2.68 | ||
| Q2 25 | $0.09 | $1.88 | ||
| Q1 25 | $0.70 | $1.66 | ||
| Q4 24 | $0.14 | $1.99 | ||
| Q3 24 | $0.28 | $2.61 | ||
| Q2 24 | $0.20 | $1.78 | ||
| Q1 24 | $0.32 | $1.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $129.4M | $187.2M |
| Total DebtLower is stronger | $1.7B | $9.3B |
| Stockholders' EquityBook value | $1.2B | $11.6B |
| Total Assets | $2.9B | $22.2B |
| Debt / EquityLower = less leverage | 1.48× | 0.80× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $129.4M | $187.2M | ||
| Q3 25 | $138.7M | $123.3M | ||
| Q2 25 | $143.7M | $102.8M | ||
| Q1 25 | $143.9M | $53.3M | ||
| Q4 24 | $425.7M | $108.6M | ||
| Q3 24 | $533.0M | $552.4M | ||
| Q2 24 | $114.9M | $545.8M | ||
| Q1 24 | $98.6M | $287.9M |
| Q4 25 | $1.7B | $9.3B | ||
| Q3 25 | — | $8.7B | ||
| Q2 25 | — | $8.7B | ||
| Q1 25 | — | $8.3B | ||
| Q4 24 | $2.0B | $8.1B | ||
| Q3 24 | — | $8.4B | ||
| Q2 24 | — | $8.4B | ||
| Q1 24 | — | $8.0B |
| Q4 25 | $1.2B | $11.6B | ||
| Q3 25 | $1.2B | $11.9B | ||
| Q2 25 | $1.2B | $11.9B | ||
| Q1 25 | $1.2B | $11.9B | ||
| Q4 24 | $1.2B | $11.9B | ||
| Q3 24 | $1.2B | $11.9B | ||
| Q2 24 | $1.2B | $11.7B | ||
| Q1 24 | $1.2B | $11.7B |
| Q4 25 | $2.9B | $22.2B | ||
| Q3 25 | $2.9B | $21.9B | ||
| Q2 25 | $3.0B | $21.8B | ||
| Q1 25 | $3.0B | $21.2B | ||
| Q4 24 | $3.3B | $21.0B | ||
| Q3 24 | $3.4B | $21.3B | ||
| Q2 24 | $3.0B | $21.0B | ||
| Q1 24 | $3.0B | $20.6B |
| Q4 25 | 1.48× | 0.80× | ||
| Q3 25 | — | 0.73× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | 1.72× | 0.68× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.71× | ||
| Q1 24 | — | 0.68× |
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 | $40.6M | $400.4M |
| Free Cash FlowOCF − Capex | $23.0M | $322.5M |
| FCF MarginFCF / Revenue | 238.4% | 17563.8% |
| Capex IntensityCapex / Revenue | 182.1% | 4246.2% |
| Cash ConversionOCF / Net Profit | — | 2.41× |
| TTM Free Cash FlowTrailing 4 quarters | $94.9M | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.6M | $400.4M | ||
| Q3 25 | $40.5M | $477.0M | ||
| Q2 25 | $49.2M | $377.8M | ||
| Q1 25 | $36.9M | $415.9M | ||
| Q4 24 | $40.6M | $328.8M | ||
| Q3 24 | $52.4M | $486.2M | ||
| Q2 24 | $59.3M | $380.0M | ||
| Q1 24 | $54.8M | $412.9M |
| Q4 25 | $23.0M | $322.5M | ||
| Q3 25 | $23.1M | $402.2M | ||
| Q2 25 | $28.4M | $317.1M | ||
| Q1 25 | $20.4M | $367.5M | ||
| Q4 24 | $21.5M | $271.9M | ||
| Q3 24 | $28.0M | $434.2M | ||
| Q2 24 | $43.6M | $333.0M | ||
| Q1 24 | $43.8M | $375.4M |
| Q4 25 | 238.4% | 17563.8% | ||
| Q3 25 | 228.3% | 21507.4% | ||
| Q2 25 | 276.7% | 19896.0% | ||
| Q1 25 | 206.1% | 21098.3% | ||
| Q4 24 | 210.4% | 15626.2% | ||
| Q3 24 | 244.4% | 25305.2% | ||
| Q2 24 | 409.9% | 18195.7% | ||
| Q1 24 | 408.5% | 20914.5% |
| Q4 25 | 182.1% | 4246.2% | ||
| Q3 25 | 172.4% | 3998.4% | ||
| Q2 25 | 203.1% | 3806.1% | ||
| Q1 25 | 166.0% | 2776.7% | ||
| Q4 24 | 187.6% | 3271.1% | ||
| Q3 24 | 213.5% | 3026.3% | ||
| Q2 24 | 147.4% | 2568.9% | ||
| Q1 24 | 101.9% | 2088.6% |
| Q4 25 | — | 2.41× | ||
| Q3 25 | 8.98× | 1.25× | ||
| Q2 25 | 9.01× | 1.41× | ||
| Q1 25 | 0.87× | 1.76× | ||
| Q4 24 | — | 1.17× | ||
| Q3 24 | 3.15× | 1.31× | ||
| Q2 24 | 4.98× | 1.50× | ||
| Q1 24 | 2.84× | 2.38× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
