vs
Side-by-side financial comparison of American Assets Trust, Inc. (AAT) and Smart Sand, Inc. (SND). 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 $86.0M, roughly 1.3× Smart Sand, Inc.). American Assets Trust, Inc. runs the higher net margin — 6.1% vs 1.4%, a 4.7% gap on every dollar of revenue. On growth, American Assets Trust, Inc. posted the faster year-over-year revenue change (1.8% vs -5.8%). Over the past eight quarters, Smart Sand, Inc.'s revenue compounded faster (1.8% 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.
Sand 9 is a fabless Micro-electromechanical system (MEMS) company based in Cambridge, Massachusetts. Sand 9 developed a piezoelectric MEMS resonator to serve as an alternative for quartz timing devices in applications such as smart phones, low-power wireless devices, and communications infrastructure equipment.
AAT vs SND — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $110.6M | $86.0M |
| Net Profit | $6.7M | $1.2M |
| Gross Margin | — | 13.0% |
| Operating Margin | 23.4% | -3.1% |
| Net Margin | 6.1% | 1.4% |
| Revenue YoY | 1.8% | -5.8% |
| Net Profit YoY | -16.3% | -68.5% |
| EPS (diluted) | $0.08 | $0.03 |
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 | $86.0M | ||
| Q3 25 | $109.6M | $92.8M | ||
| Q2 25 | $107.9M | $85.8M | ||
| Q1 25 | $108.6M | $65.6M | ||
| Q4 24 | $113.5M | $91.4M | ||
| Q3 24 | $122.8M | $63.2M | ||
| Q2 24 | $110.9M | $73.8M |
| Q1 26 | $6.7M | — | ||
| Q4 25 | — | $1.2M | ||
| Q3 25 | $4.5M | $3.0M | ||
| Q2 25 | $5.5M | $21.4M | ||
| Q1 25 | $42.5M | $-24.2M | ||
| Q4 24 | — | $3.7M | ||
| Q3 24 | $16.7M | $-98.0K | ||
| Q2 24 | $11.9M | $-430.0K |
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | 13.0% | ||
| Q3 25 | 60.5% | 16.1% | ||
| Q2 25 | 62.6% | 10.4% | ||
| Q1 25 | 62.0% | 4.2% | ||
| Q4 24 | 61.3% | 14.7% | ||
| Q3 24 | 65.5% | 10.3% | ||
| Q2 24 | 63.6% | 17.7% |
| Q1 26 | 23.4% | — | ||
| Q4 25 | 21.1% | -3.1% | ||
| Q3 25 | 22.6% | 5.8% | ||
| Q2 25 | 24.1% | -0.1% | ||
| Q1 25 | 66.3% | -10.8% | ||
| Q4 24 | 26.5% | 3.9% | ||
| Q3 24 | 30.8% | -7.8% | ||
| Q2 24 | 27.8% | 4.8% |
| Q1 26 | 6.1% | — | ||
| Q4 25 | — | 1.4% | ||
| Q3 25 | 4.1% | 3.2% | ||
| Q2 25 | 5.1% | 24.9% | ||
| Q1 25 | 39.2% | -37.0% | ||
| Q4 24 | — | 4.1% | ||
| Q3 24 | 13.6% | -0.2% | ||
| Q2 24 | 10.7% | -0.6% |
| Q1 26 | $0.08 | — | ||
| Q4 25 | $0.06 | $0.03 | ||
| Q3 25 | $0.07 | $0.08 | ||
| Q2 25 | $0.09 | $0.54 | ||
| Q1 25 | $0.70 | $-0.62 | ||
| Q4 24 | $0.14 | $0.10 | ||
| Q3 24 | $0.28 | $0.00 | ||
| Q2 24 | $0.20 | $-0.01 |
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 | $22.6M |
| Total DebtLower is stronger | — | $15.0M |
| Stockholders' EquityBook value | $1.1B | $239.7M |
| Total Assets | $2.9B | $340.0M |
| Debt / EquityLower = less leverage | — | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $118.3M | — | ||
| Q4 25 | $129.4M | $22.6M | ||
| Q3 25 | $138.7M | $5.1M | ||
| Q2 25 | $143.7M | $4.3M | ||
| Q1 25 | $143.9M | $5.1M | ||
| Q4 24 | $425.7M | $1.6M | ||
| Q3 24 | $533.0M | $7.2M | ||
| Q2 24 | $114.9M | $6.3M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $15.0M | ||
| Q3 25 | — | $14.3M | ||
| Q2 25 | — | $23.5M | ||
| Q1 25 | — | $13.7M | ||
| Q4 24 | $2.0B | $14.7M | ||
| Q3 24 | — | $15.7M | ||
| Q2 24 | — | $17.1M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.2B | $239.7M | ||
| Q3 25 | $1.2B | $239.9M | ||
| Q2 25 | $1.2B | $240.5M | ||
| Q1 25 | $1.2B | $219.9M | ||
| Q4 24 | $1.2B | $243.8M | ||
| Q3 24 | $1.2B | $243.6M | ||
| Q2 24 | $1.2B | $242.9M |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $340.0M | ||
| Q3 25 | $2.9B | $343.1M | ||
| Q2 25 | $3.0B | $345.8M | ||
| Q1 25 | $3.0B | $326.9M | ||
| Q4 24 | $3.3B | $341.5M | ||
| Q3 24 | $3.4B | $335.8M | ||
| Q2 24 | $3.0B | $341.8M |
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | 0.06× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | 0.06× | ||
| Q4 24 | 1.72× | 0.06× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.07× |
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 | — | $22.4M |
| Free Cash FlowOCF − Capex | — | $20.4M |
| FCF MarginFCF / Revenue | — | 23.7% |
| Capex IntensityCapex / Revenue | 14.5% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 18.99× |
| TTM Free Cash FlowTrailing 4 quarters | — | $32.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $167.1M | $22.4M | ||
| Q3 25 | $40.5M | $18.2M | ||
| Q2 25 | $49.2M | $-5.1M | ||
| Q1 25 | $36.9M | $8.7M | ||
| Q4 24 | $207.1M | $1.0M | ||
| Q3 24 | $52.4M | $5.8M | ||
| Q2 24 | $59.3M | $14.9M |
| Q1 26 | — | — | ||
| Q4 25 | $94.9M | $20.4M | ||
| Q3 25 | $23.1M | $14.8M | ||
| Q2 25 | $28.4M | $-7.8M | ||
| Q1 25 | $20.4M | $5.2M | ||
| Q4 24 | $136.9M | $-840.0K | ||
| Q3 24 | $28.0M | $3.7M | ||
| Q2 24 | $43.6M | $13.5M |
| Q1 26 | — | — | ||
| Q4 25 | 86.2% | 23.7% | ||
| Q3 25 | 21.1% | 15.9% | ||
| Q2 25 | 26.3% | -9.1% | ||
| Q1 25 | 18.8% | 7.9% | ||
| Q4 24 | 120.7% | -0.9% | ||
| Q3 24 | 22.8% | 5.8% | ||
| Q2 24 | 39.3% | 18.3% |
| Q1 26 | 14.5% | — | ||
| Q4 25 | 65.6% | 2.3% | ||
| Q3 25 | 15.9% | 3.6% | ||
| Q2 25 | 19.3% | 3.1% | ||
| Q1 25 | 15.1% | 5.4% | ||
| Q4 24 | 61.9% | 2.1% | ||
| Q3 24 | 19.9% | 3.4% | ||
| Q2 24 | 14.1% | 1.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 18.99× | ||
| Q3 25 | 8.98× | 6.05× | ||
| Q2 25 | 9.01× | -0.24× | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | — | 0.28× | ||
| 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% |
SND
| Sand | $85.1M | 99% |
| Smart Systems Segment | $980.0K | 1% |
