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Side-by-side financial comparison of American Assets Trust, Inc. (AAT) and MILLER INDUSTRIES INC (MLR). Click either name above to swap in a different company.

MILLER INDUSTRIES INC is the larger business by last-quarter revenue ($171.9M vs $110.6M, roughly 1.6× American Assets Trust, Inc.). On growth, American Assets Trust, Inc. posted the faster year-over-year revenue change (1.8% vs -22.5%). Over the past eight quarters, American Assets Trust, Inc.'s revenue compounded faster (-0.1% CAGR vs -29.9%).

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.

Miller Industries is an American tow truck and towing equipment manufacturing company based in the Chattanooga suburb of Ooltewah, Tennessee. Its primary subsidiary, Miller Industries Towing Equipment Inc., manufactures a variety of light- to heavy-duty wreckers, car carriers, and rotators under several brand names, including Century, Vulcan, Chevron, and Holmes. Miller Industries also operates international brands with Boniface (U.K.) and Jige (France). It is listed on the New York Stock Exc...

AAT vs MLR — Head-to-Head

Bigger by revenue
MLR
MLR
1.6× larger
MLR
$171.9M
$110.6M
AAT
Growing faster (revenue YoY)
AAT
AAT
+24.4% gap
AAT
1.8%
-22.5%
MLR
Faster 2-yr revenue CAGR
AAT
AAT
Annualised
AAT
-0.1%
-29.9%
MLR

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
AAT
AAT
MLR
MLR
Revenue
$110.6M
$171.9M
Net Profit
$6.7M
Gross Margin
15.4%
Operating Margin
23.4%
2.9%
Net Margin
6.1%
Revenue YoY
1.8%
-22.5%
Net Profit YoY
-16.3%
EPS (diluted)
$0.08
$0.29

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.

Revenue
AAT
AAT
MLR
MLR
Q1 26
$110.6M
Q4 25
$110.1M
$171.9M
Q3 25
$109.6M
$178.7M
Q2 25
$107.9M
$214.0M
Q1 25
$108.6M
$225.7M
Q4 24
$113.5M
$221.9M
Q3 24
$122.8M
$314.3M
Q2 24
$110.9M
$371.5M
Net Profit
AAT
AAT
MLR
MLR
Q1 26
$6.7M
Q4 25
Q3 25
$4.5M
$3.1M
Q2 25
$5.5M
$8.5M
Q1 25
$42.5M
$8.1M
Q4 24
Q3 24
$16.7M
$15.4M
Q2 24
$11.9M
$20.5M
Gross Margin
AAT
AAT
MLR
MLR
Q1 26
Q4 25
59.4%
15.4%
Q3 25
60.5%
14.2%
Q2 25
62.6%
16.2%
Q1 25
62.0%
15.0%
Q4 24
61.3%
15.1%
Q3 24
65.5%
13.4%
Q2 24
63.6%
13.8%
Operating Margin
AAT
AAT
MLR
MLR
Q1 26
23.4%
Q4 25
21.1%
2.9%
Q3 25
22.6%
2.4%
Q2 25
24.1%
5.3%
Q1 25
66.3%
4.8%
Q4 24
26.5%
5.7%
Q3 24
30.8%
6.3%
Q2 24
27.8%
7.1%
Net Margin
AAT
AAT
MLR
MLR
Q1 26
6.1%
Q4 25
Q3 25
4.1%
1.7%
Q2 25
5.1%
4.0%
Q1 25
39.2%
3.6%
Q4 24
Q3 24
13.6%
4.9%
Q2 24
10.7%
5.5%
EPS (diluted)
AAT
AAT
MLR
MLR
Q1 26
$0.08
Q4 25
$0.06
$0.29
Q3 25
$0.07
$0.27
Q2 25
$0.09
$0.73
Q1 25
$0.70
$0.69
Q4 24
$0.14
$0.89
Q3 24
$0.28
$1.33
Q2 24
$0.20
$1.78

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AAT
AAT
MLR
MLR
Cash + ST InvestmentsLiquidity on hand
$118.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$1.1B
$420.6M
Total Assets
$2.9B
$589.7M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AAT
AAT
MLR
MLR
Q1 26
$118.3M
Q4 25
$129.4M
Q3 25
$138.7M
Q2 25
$143.7M
Q1 25
$143.9M
Q4 24
$425.7M
Q3 24
$533.0M
Q2 24
$114.9M
Total Debt
AAT
AAT
MLR
MLR
Q1 26
Q4 25
$1.7B
Q3 25
Q2 25
Q1 25
Q4 24
$2.0B
Q3 24
Q2 24
Stockholders' Equity
AAT
AAT
MLR
MLR
Q1 26
$1.1B
Q4 25
$1.2B
$420.6M
Q3 25
$1.2B
$420.7M
Q2 25
$1.2B
$418.6M
Q1 25
$1.2B
$406.5M
Q4 24
$1.2B
$401.0M
Q3 24
$1.2B
$395.2M
Q2 24
$1.2B
$379.9M
Total Assets
AAT
AAT
MLR
MLR
Q1 26
$2.9B
Q4 25
$2.9B
$589.7M
Q3 25
$2.9B
$604.3M
Q2 25
$3.0B
$622.9M
Q1 25
$3.0B
$639.7M
Q4 24
$3.3B
$667.0M
Q3 24
$3.4B
$755.3M
Q2 24
$3.0B
$748.2M
Debt / Equity
AAT
AAT
MLR
MLR
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
AAT
AAT
MLR
MLR
Operating Cash FlowLast quarter
$48.9M
Free Cash FlowOCF − Capex
$43.8M
FCF MarginFCF / Revenue
25.5%
Capex IntensityCapex / Revenue
14.5%
3.0%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$85.0M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AAT
AAT
MLR
MLR
Q1 26
Q4 25
$167.1M
$48.9M
Q3 25
$40.5M
$19.9M
Q2 25
$49.2M
$27.2M
Q1 25
$36.9M
$2.7M
Q4 24
$207.1M
$-11.7M
Q3 24
$52.4M
$30.3M
Q2 24
$59.3M
$-10.7M
Free Cash Flow
AAT
AAT
MLR
MLR
Q1 26
Q4 25
$94.9M
$43.8M
Q3 25
$23.1M
$18.1M
Q2 25
$28.4M
$25.6M
Q1 25
$20.4M
$-2.4M
Q4 24
$136.9M
$-13.0M
Q3 24
$28.0M
$24.0M
Q2 24
$43.6M
$-13.8M
FCF Margin
AAT
AAT
MLR
MLR
Q1 26
Q4 25
86.2%
25.5%
Q3 25
21.1%
10.1%
Q2 25
26.3%
11.9%
Q1 25
18.8%
-1.1%
Q4 24
120.7%
-5.9%
Q3 24
22.8%
7.6%
Q2 24
39.3%
-3.7%
Capex Intensity
AAT
AAT
MLR
MLR
Q1 26
14.5%
Q4 25
65.6%
3.0%
Q3 25
15.9%
1.0%
Q2 25
19.3%
0.8%
Q1 25
15.1%
2.3%
Q4 24
61.9%
0.6%
Q3 24
19.9%
2.0%
Q2 24
14.1%
0.8%
Cash Conversion
AAT
AAT
MLR
MLR
Q1 26
Q4 25
Q3 25
8.98×
6.46×
Q2 25
9.01×
3.22×
Q1 25
0.87×
0.34×
Q4 24
Q3 24
3.15×
1.96×
Q2 24
4.98×
-0.52×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

AAT
AAT

Rental income$104.4M94%
Other$6.2M6%

MLR
MLR

Segment breakdown not available.

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