American Assets Trust (American Assets Trust) Operating Income : $122.6 Mil (TTM As of Mar. 2024)

View and export this data going back to 2011. Start your Free Trial

What is American Assets Trust Operating Income?

American Assets Trust's Operating Income for the three months ended in Mar. 2024 was $30.5 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 was $122.6 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. American Assets Trust's Operating Income for the three months ended in Mar. 2024 was $30.5 Mil. American Assets Trust's Revenue for the three months ended in Mar. 2024 was $110.7 Mil. Therefore, American Assets Trust's Operating Margin % for the quarter that ended in Mar. 2024 was 27.60%.

Good Sign:

American Assets Trust Inc operating margin is expanding. Margin expansion is usually a good sign.

American Assets Trust's 5-Year average Growth Rate for Operating Margin % was 0.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. American Assets Trust's annualized ROC % for the quarter that ended in Mar. 2024 was 4.28%. American Assets Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 776.41%.

American Assets Trust Operating Income Historical Data

The historical data trend for American Assets Trust's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

American Assets Trust Operating Income Chart

American Assets Trust Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

Get a 7-Day Free Trial

113.69

88.58

99.87

114.73

121.75

American Assets Trust Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Operating Income	Get a 7-Day Free Trial															29.72	31.49	31.14	29.40	30.55

American Assets Trust Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $122.6 Mil.

American Assets Trust (NYSE:AAT) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

American Assets Trust's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

	ROC % (Q: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	122.196 * ( 1 - 1.04% )	/	( (2831.601	+	2815.492)	/ 2 )
=	120.9251616	/	2823.5465
=	4.28 %

where

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	2984.681	-	70.192	-	( 82.888	-	max(0, 98.119	-	190.179	+	82.888	))
=	2831.601

	Invested Capital		(Q: Mar. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	2988.199	-	74.154	-	( 98.553	-	max(0, 100.646	-	207.343	+	98.553	))
=	2815.492

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

American Assets Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	164.552	/	( ( (21.503 + max(-80.038, 0))	+	(20.885 + max(-82.74, 0)) )	/	2 )
=	164.552	/	( ( 21.503	+	20.885 )	/	2 )
=	164.552	/	21.194
=	776.41 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(7.624	+	0	+	10.457)	-	(70.192	+	27.927	+	0)
=	-80.038

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(7.606	+	0	+	10.3)	-	(74.154	+	26.492	+	0)
=	-82.74

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

3. Operating Income is also linked to Operating Margin %:

American Assets Trust's Operating Margin % for the quarter that ended in Mar. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2024 )	/	Revenue (Q: Mar. 2024 )
	=	30.549	/	110.695
	=	27.60 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

American Assets Trust Operating Income Related Terms

Thank you for viewing the detailed overview of American Assets Trust's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

American Assets Trust (American Assets Trust) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » American Assets Trust Inc (NYSE:AAT) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

3420 Carmel Mountain Road, Suite 100, San Diego, CA, USA, 92121

Website

https://www.americanassetstrust.com

American Assets Trust Inc is a self-administered real estate investment trust based in the United States. The company invests in, operates, and develops retail, office, residential, and mixed-use properties. Properties are primarily located in South California, Northern California, Oregon, Washington, and Hawaii. American Assets operates through four segments based on property type: retail; office; mixed-use, which consists of retail and hotel components; and multifamily, which includes the company's apartment properties. The retail and office segments collectively contribute the majority of the total revenue.

Executives

Ernest S Rady	director, 10 percent owner, officer: Executive Chairman	23 PASTEUR ROAD, C/O WESTCORP, IRVINE CA 92618
Nina A Tran	director	C/O AMB PROPERTY CORPORATION, PIER 1, BAY 1, SAN FRANCISCO CA 94111
Adam Wyll	officer: Senior VP, Gen Counsel and Sec	11455 EL CAMINO REAL, SUITE 200, SAN DIEGO CA 92130
Robert F. Barton	officer: Executive Vice President & CFO	11455 EL CAMINO REAL, SUITE 200, SAN DIEGO CA 92130
Joy L. Schaefer	director	30699 RUSSELL RANCH ROAD, SUITE 295, WESTLAKE VILLAGE CA 91362
Duane Nelles	director	23 PASTEUR ROAD, IRVINE CA 92618
Jerry Gammieri	officer: V. P. Construction and Devlp	11455 EL CAMINO REAL, SUITE 200, SAN DIEGO CA 92130
Patrick Kinney	officer: Senior VP of Real Estate Ops	11455 EL CAMINO REAL, SUITE 200, SAN DIEGO CA 92130
John W. Chamberlain	director, officer: CEO and President	11455 EL CAMINO REAL, SUITE 200, SAN DIEGO CA 92130
American Assets Inc	10 percent owner	3430 CARMEL MOUNTAIN ROAD, SUITE 150, SAN DIEGO CA 92121
Alan D Gold	director	17140 BERNARDO CENTER DRIVE, SUITE 195, SAN DIEGO CA 92128
Larry E Finger	director	1626 EAST JEFFERSON ST, ROCKVILLE MD 20852
Thomas S Olinger	director	C/O AMB PROPERTY CORPORATION, PIER 1, BAY 1, SAN FRANCISCO CA 94111
Robert S Sullivan	director	P O BOX 1637, HOUSTON TX 77251
Lange Edward F Jr	director	405 PARK AVENUE, NEW YORK NY 10022