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Side-by-side financial comparison of American Assets Trust, Inc. (AAT) and Bandwidth Inc. (BAND). Click either name above to swap in a different company.
Bandwidth Inc. is the larger business by last-quarter revenue ($208.8M vs $110.6M, roughly 1.9× American Assets Trust, Inc.). American Assets Trust, Inc. runs the higher net margin — 6.1% vs 1.9%, a 4.2% gap on every dollar of revenue. On growth, Bandwidth Inc. posted the faster year-over-year revenue change (20.1% vs 1.8%). Over the past eight quarters, Bandwidth Inc.'s revenue compounded faster (9.7% 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.
Bandwidth Inc. is a communications platform as a service company. It sells software application programming interfaces for voice, text messaging and emergency services, using its own global IP voice network.
AAT vs BAND — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $110.6M | $208.8M |
| Net Profit | $6.7M | $4.0M |
| Gross Margin | — | 37.3% |
| Operating Margin | 23.4% | 60.5% |
| Net Margin | 6.1% | 1.9% |
| Revenue YoY | 1.8% | 20.1% |
| Net Profit YoY | -16.3% | 200.0% |
| EPS (diluted) | $0.08 | $-0.08 |
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 | $208.8M | ||
| Q4 25 | $110.1M | $207.7M | ||
| Q3 25 | $109.6M | $191.9M | ||
| Q2 25 | $107.9M | $180.0M | ||
| Q1 25 | $108.6M | $174.2M | ||
| Q4 24 | $113.5M | $210.0M | ||
| Q3 24 | $122.8M | $193.9M | ||
| Q2 24 | $110.9M | $173.6M |
| Q1 26 | $6.7M | $4.0M | ||
| Q4 25 | — | — | ||
| Q3 25 | $4.5M | $-1.2M | ||
| Q2 25 | $5.5M | $-4.9M | ||
| Q1 25 | $42.5M | $-3.7M | ||
| Q4 24 | — | — | ||
| Q3 24 | $16.7M | $413.0K | ||
| Q2 24 | $11.9M | $4.1M |
| Q1 26 | — | 37.3% | ||
| Q4 25 | 59.4% | 37.6% | ||
| Q3 25 | 60.5% | 38.5% | ||
| Q2 25 | 62.6% | 39.8% | ||
| Q1 25 | 62.0% | 41.0% | ||
| Q4 24 | 61.3% | 36.4% | ||
| Q3 24 | 65.5% | 37.7% | ||
| Q2 24 | 63.6% | 37.3% |
| Q1 26 | 23.4% | 60.5% | ||
| Q4 25 | 21.1% | -1.9% | ||
| Q3 25 | 22.6% | -1.0% | ||
| Q2 25 | 24.1% | -2.1% | ||
| Q1 25 | 66.3% | -2.7% | ||
| Q4 24 | 26.5% | -1.3% | ||
| Q3 24 | 30.8% | -0.5% | ||
| Q2 24 | 27.8% | -3.5% |
| Q1 26 | 6.1% | 1.9% | ||
| Q4 25 | — | — | ||
| Q3 25 | 4.1% | -0.6% | ||
| Q2 25 | 5.1% | -2.7% | ||
| Q1 25 | 39.2% | -2.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | 13.6% | 0.2% | ||
| Q2 24 | 10.7% | 2.3% |
| Q1 26 | $0.08 | $-0.08 | ||
| Q4 25 | $0.06 | $-0.10 | ||
| Q3 25 | $0.07 | $-0.04 | ||
| Q2 25 | $0.09 | $-0.16 | ||
| Q1 25 | $0.70 | $-0.13 | ||
| Q4 24 | $0.14 | $0.27 | ||
| Q3 24 | $0.28 | $0.01 | ||
| Q2 24 | $0.20 | $-0.17 |
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 | $47.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $405.7M |
| Total Assets | $2.9B | $984.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $118.3M | $47.3M | ||
| Q4 25 | $129.4M | $111.3M | ||
| Q3 25 | $138.7M | $80.4M | ||
| Q2 25 | $143.7M | $68.1M | ||
| Q1 25 | $143.9M | $41.7M | ||
| Q4 24 | $425.7M | $83.8M | ||
| Q3 24 | $533.0M | $79.9M | ||
| Q2 24 | $114.9M | $76.4M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.1B | $405.7M | ||
| Q4 25 | $1.2B | $400.0M | ||
| Q3 25 | $1.2B | $392.7M | ||
| Q2 25 | $1.2B | $384.5M | ||
| Q1 25 | $1.2B | $345.4M | ||
| Q4 24 | $1.2B | $312.5M | ||
| Q3 24 | $1.2B | $336.6M | ||
| Q2 24 | $1.2B | $307.4M |
| Q1 26 | $2.9B | $984.2M | ||
| Q4 25 | $2.9B | $1.1B | ||
| Q3 25 | $2.9B | $1.0B | ||
| Q2 25 | $3.0B | $1.0B | ||
| Q1 25 | $3.0B | $964.4M | ||
| Q4 24 | $3.3B | $989.2M | ||
| Q3 24 | $3.4B | $1.0B | ||
| Q2 24 | $3.0B | $1.0B |
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.72× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | — |
| Free Cash FlowOCF − Capex | — | $-1.0M |
| FCF MarginFCF / Revenue | — | -0.5% |
| Capex IntensityCapex / Revenue | 14.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $167.1M | $38.6M | ||
| Q3 25 | $40.5M | $22.2M | ||
| Q2 25 | $49.2M | $31.7M | ||
| Q1 25 | $36.9M | $-3.1M | ||
| Q4 24 | $207.1M | $36.5M | ||
| Q3 24 | $52.4M | $20.5M | ||
| Q2 24 | $59.3M | $24.4M |
| Q1 26 | — | $-1.0M | ||
| Q4 25 | $94.9M | — | ||
| Q3 25 | $23.1M | — | ||
| Q2 25 | $28.4M | — | ||
| Q1 25 | $20.4M | — | ||
| Q4 24 | $136.9M | — | ||
| Q3 24 | $28.0M | — | ||
| Q2 24 | $43.6M | — |
| Q1 26 | — | -0.5% | ||
| Q4 25 | 86.2% | — | ||
| Q3 25 | 21.1% | — | ||
| Q2 25 | 26.3% | — | ||
| Q1 25 | 18.8% | — | ||
| Q4 24 | 120.7% | — | ||
| Q3 24 | 22.8% | — | ||
| Q2 24 | 39.3% | — |
| Q1 26 | 14.5% | — | ||
| Q4 25 | 65.6% | — | ||
| Q3 25 | 15.9% | — | ||
| Q2 25 | 19.3% | — | ||
| Q1 25 | 15.1% | — | ||
| Q4 24 | 61.9% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | 14.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.98× | — | ||
| Q2 25 | 9.01× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.15× | 49.55× | ||
| Q2 24 | 4.98× | 6.03× |
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% |
BAND
Segment breakdown not available.
