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Side-by-side financial comparison of American Assets Trust, Inc. (AAT) and 4D Molecular Therapeutics, Inc. (FDMT). Click either name above to swap in a different company.
American Assets Trust, Inc. is the larger business by last-quarter revenue ($110.6M vs $85.1M, roughly 1.3× 4D Molecular Therapeutics, Inc.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs 6.1%, a 16.7% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 1.8%). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% 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.
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
AAT vs FDMT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $110.6M | $85.1M |
| Net Profit | $6.7M | $19.4M |
| Gross Margin | — | — |
| Operating Margin | 23.4% | 17.3% |
| Net Margin | 6.1% | 22.8% |
| Revenue YoY | 1.8% | 8508900.0% |
| Net Profit YoY | -16.3% | 139.1% |
| EPS (diluted) | $0.08 | $0.43 |
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 | $85.1M | ||
| Q3 25 | $109.6M | $90.0K | ||
| Q2 25 | $107.9M | $15.0K | ||
| Q1 25 | $108.6M | $14.0K | ||
| Q4 24 | $113.5M | $1.0K | ||
| Q3 24 | $122.8M | $3.0K | ||
| Q2 24 | $110.9M | $5.0K |
| Q1 26 | $6.7M | — | ||
| Q4 25 | — | $19.4M | ||
| Q3 25 | $4.5M | $-56.9M | ||
| Q2 25 | $5.5M | $-54.7M | ||
| Q1 25 | $42.5M | $-48.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | $16.7M | $-43.8M | ||
| Q2 24 | $11.9M | $-35.0M |
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | — | ||
| Q3 25 | 60.5% | — | ||
| Q2 25 | 62.6% | — | ||
| Q1 25 | 62.0% | — | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 65.5% | — | ||
| Q2 24 | 63.6% | — |
| Q1 26 | 23.4% | — | ||
| Q4 25 | 21.1% | 17.3% | ||
| Q3 25 | 22.6% | -67983.3% | ||
| Q2 25 | 24.1% | -396373.3% | ||
| Q1 25 | 66.3% | -383007.1% | ||
| Q4 24 | 26.5% | — | ||
| Q3 24 | 30.8% | -1704400.0% | ||
| Q2 24 | 27.8% | -849120.0% |
| Q1 26 | 6.1% | — | ||
| Q4 25 | — | 22.8% | ||
| Q3 25 | 4.1% | -63195.6% | ||
| Q2 25 | 5.1% | -364386.7% | ||
| Q1 25 | 39.2% | -342657.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | 13.6% | -1461433.3% | ||
| Q2 24 | 10.7% | -699060.0% |
| Q1 26 | $0.08 | — | ||
| Q4 25 | $0.06 | $0.43 | ||
| Q3 25 | $0.07 | $-1.01 | ||
| Q2 25 | $0.09 | $-0.98 | ||
| Q1 25 | $0.70 | $-0.86 | ||
| Q4 24 | $0.14 | — | ||
| Q3 24 | $0.28 | $-0.79 | ||
| Q2 24 | $0.20 | $-0.63 |
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 | $402.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $505.7M |
| Total Assets | $2.9B | $566.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $118.3M | — | ||
| Q4 25 | $129.4M | $402.7M | ||
| Q3 25 | $138.7M | $305.1M | ||
| Q2 25 | $143.7M | $293.2M | ||
| Q1 25 | $143.9M | $321.4M | ||
| Q4 24 | $425.7M | $424.9M | ||
| Q3 24 | $533.0M | $501.9M | ||
| Q2 24 | $114.9M | $541.9M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.2B | $505.7M | ||
| Q3 25 | $1.2B | $369.0M | ||
| Q2 25 | $1.2B | $420.9M | ||
| Q1 25 | $1.2B | $469.7M | ||
| Q4 24 | $1.2B | $510.6M | ||
| Q3 24 | $1.2B | $552.9M | ||
| Q2 24 | $1.2B | $588.3M |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $566.7M | ||
| Q3 25 | $2.9B | $424.0M | ||
| Q2 25 | $3.0B | $473.6M | ||
| Q1 25 | $3.0B | $515.7M | ||
| Q4 24 | $3.3B | $560.4M | ||
| Q3 24 | $3.4B | $604.0M | ||
| Q2 24 | $3.0B | $620.1M |
| 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 | — | $28.6M |
| Free Cash FlowOCF − Capex | — | $28.5M |
| FCF MarginFCF / Revenue | — | 33.5% |
| Capex IntensityCapex / Revenue | 14.5% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-109.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $167.1M | $28.6M | ||
| Q3 25 | $40.5M | $-46.5M | ||
| Q2 25 | $49.2M | $-43.4M | ||
| Q1 25 | $36.9M | $-47.8M | ||
| Q4 24 | $207.1M | $-134.6M | ||
| Q3 24 | $52.4M | $-29.4M | ||
| Q2 24 | $59.3M | $-30.2M |
| Q1 26 | — | — | ||
| Q4 25 | $94.9M | $28.5M | ||
| Q3 25 | $23.1M | $-46.6M | ||
| Q2 25 | $28.4M | $-43.4M | ||
| Q1 25 | $20.4M | $-48.4M | ||
| Q4 24 | $136.9M | $-138.4M | ||
| Q3 24 | $28.0M | $-31.2M | ||
| Q2 24 | $43.6M | $-30.6M |
| Q1 26 | — | — | ||
| Q4 25 | 86.2% | 33.5% | ||
| Q3 25 | 21.1% | -51765.6% | ||
| Q2 25 | 26.3% | -289620.0% | ||
| Q1 25 | 18.8% | -345635.7% | ||
| Q4 24 | 120.7% | -13837100.0% | ||
| Q3 24 | 22.8% | -1038966.7% | ||
| Q2 24 | 39.3% | -611840.0% |
| Q1 26 | 14.5% | — | ||
| Q4 25 | 65.6% | 0.1% | ||
| Q3 25 | 15.9% | 101.1% | ||
| Q2 25 | 19.3% | 440.0% | ||
| Q1 25 | 15.1% | 4507.1% | ||
| Q4 24 | 61.9% | 378600.0% | ||
| Q3 24 | 19.9% | 59266.7% | ||
| Q2 24 | 14.1% | 6980.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.47× | ||
| 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% |
FDMT
Segment breakdown not available.
