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Side-by-side financial comparison of American Assets Trust, Inc. (AAT) and Millrose Properties, Inc. (MRP). Click either name above to swap in a different company.
Millrose Properties, Inc. is the larger business by last-quarter revenue ($194.9M vs $110.6M, roughly 1.8× American Assets Trust, Inc.). Millrose Properties, Inc. runs the higher net margin — 63.0% vs 6.1%, a 56.9% gap on every dollar of revenue. On growth, Millrose Properties, Inc. posted the faster year-over-year revenue change (135.7% vs 1.8%).
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.
Millrose Properties, Inc. is a U.S.-based real estate enterprise primarily focused on the acquisition, ownership, operation, and management of income-generating multi-family residential assets. Its core markets span the U.S. Mid-Atlantic and Southeast regions, and it also offers professional property management services to select third-party property owners.
AAT vs MRP — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $110.6M | $194.9M |
| Net Profit | $6.7M | $122.9M |
| Gross Margin | — | — |
| Operating Margin | 23.4% | 85.2% |
| Net Margin | 6.1% | 63.0% |
| Revenue YoY | 1.8% | 135.7% |
| Net Profit YoY | -16.3% | 208.7% |
| EPS (diluted) | $0.08 | $0.74 |
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 | $194.9M | ||
| Q4 25 | $110.1M | $189.5M | ||
| Q3 25 | $109.6M | $179.3M | ||
| Q2 25 | $107.9M | $149.0M | ||
| Q1 25 | $108.6M | $82.7M | ||
| Q4 24 | $113.5M | — | ||
| Q3 24 | $122.8M | — | ||
| Q2 24 | $110.9M | — |
| Q1 26 | $6.7M | $122.9M | ||
| Q4 25 | — | $122.2M | ||
| Q3 25 | $4.5M | $105.1M | ||
| Q2 25 | $5.5M | $112.8M | ||
| Q1 25 | $42.5M | $39.8M | ||
| Q4 24 | — | — | ||
| Q3 24 | $16.7M | — | ||
| Q2 24 | $11.9M | — |
| 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% | 85.2% | ||
| Q4 25 | 21.1% | 84.8% | ||
| Q3 25 | 22.6% | 85.3% | ||
| Q2 25 | 24.1% | 85.1% | ||
| Q1 25 | 66.3% | 55.2% | ||
| Q4 24 | 26.5% | — | ||
| Q3 24 | 30.8% | — | ||
| Q2 24 | 27.8% | — |
| Q1 26 | 6.1% | 63.0% | ||
| Q4 25 | — | 64.5% | ||
| Q3 25 | 4.1% | 58.6% | ||
| Q2 25 | 5.1% | 75.7% | ||
| Q1 25 | 39.2% | 48.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | 13.6% | — | ||
| Q2 24 | 10.7% | — |
| Q1 26 | $0.08 | $0.74 | ||
| Q4 25 | $0.06 | $0.74 | ||
| Q3 25 | $0.07 | $0.63 | ||
| Q2 25 | $0.09 | $0.68 | ||
| Q1 25 | $0.70 | $0.39 | ||
| Q4 24 | $0.14 | — | ||
| Q3 24 | $0.28 | — | ||
| Q2 24 | $0.20 | — |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $5.9B |
| Total Assets | $2.9B | $9.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $118.3M | — | ||
| Q4 25 | $129.4M | $35.0M | ||
| Q3 25 | $138.7M | $242.6M | ||
| Q2 25 | $143.7M | $66.6M | ||
| Q1 25 | $143.9M | $89.5M | ||
| Q4 24 | $425.7M | — | ||
| Q3 24 | $533.0M | — | ||
| Q2 24 | $114.9M | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.1B | $5.9B | ||
| Q4 25 | $1.2B | $5.9B | ||
| Q3 25 | $1.2B | $5.9B | ||
| Q2 25 | $1.2B | $5.9B | ||
| Q1 25 | $1.2B | $5.9B | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — |
| Q1 26 | $2.9B | $9.6B | ||
| Q4 25 | $2.9B | $9.3B | ||
| Q3 25 | $2.9B | $9.0B | ||
| Q2 25 | $3.0B | $8.0B | ||
| Q1 25 | $3.0B | $7.2B | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $3.4B | — | ||
| Q2 24 | $3.0B | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.72× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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% |
MRP
| Option fee revenues | $185.3M | 95% |
| Development loan income | $9.6M | 5% |
