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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and AMERICAN PUBLIC EDUCATION INC (APEI). Click either name above to swap in a different company.
ASHFORD HOSPITALITY TRUST INC is the larger business by last-quarter revenue ($259.0M vs $158.3M, roughly 1.6× AMERICAN PUBLIC EDUCATION INC). AMERICAN PUBLIC EDUCATION INC runs the higher net margin — 8.0% vs -26.8%, a 34.7% gap on every dollar of revenue. On growth, AMERICAN PUBLIC EDUCATION INC posted the faster year-over-year revenue change (-3.5% vs -6.0%). AMERICAN PUBLIC EDUCATION INC produced more free cash flow last quarter ($-15.6M vs $-86.8M). Over the past eight quarters, AMERICAN PUBLIC EDUCATION INC's revenue compounded faster (1.3% CAGR vs -7.7%).
Ashford Hospitality Trust Inc is a U.S.-headquartered real estate investment trust focused on upper-upscale full-service hotel properties across key U.S. urban, suburban and resort markets. Its portfolio holds assets under top global hospitality brands, serving business and leisure travelers, with a focus on long-term value growth and stable shareholder returns.
Strategic Education, Inc. (SEI) is an education services holding company and is formerly known as Strayer Education, Inc. The company owns for-profit, online Capella University and Strayer University, as well as non-degree programs schools such as DevMountain, Hackbright Academy, and Sophia Learning.
AHT vs APEI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $158.3M |
| Net Profit | $-69.3M | $12.6M |
| Gross Margin | — | 56.4% |
| Operating Margin | -2.6% | 12.0% |
| Net Margin | -26.8% | 8.0% |
| Revenue YoY | -6.0% | -3.5% |
| Net Profit YoY | 44.2% | -2.7% |
| EPS (diluted) | $-12.85 | $0.67 |
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.
| Q4 25 | $259.0M | $158.3M | ||
| Q3 25 | $266.1M | $163.2M | ||
| Q2 25 | $302.0M | $162.8M | ||
| Q1 25 | $277.4M | $164.6M | ||
| Q4 24 | $275.5M | $164.1M | ||
| Q3 24 | $276.6M | $153.1M | ||
| Q2 24 | $316.5M | $152.9M | ||
| Q1 24 | $303.9M | $154.4M |
| Q4 25 | $-69.3M | $12.6M | ||
| Q3 25 | $-60.1M | $5.6M | ||
| Q2 25 | $-30.4M | $4.5M | ||
| Q1 25 | $-20.0M | $8.9M | ||
| Q4 24 | $-124.2M | $13.0M | ||
| Q3 24 | $-57.9M | $2.3M | ||
| Q2 24 | $50.3M | $371.0K | ||
| Q1 24 | $71.6M | $516.0K |
| Q4 25 | — | 56.4% | ||
| Q3 25 | — | 54.2% | ||
| Q2 25 | — | 51.8% | ||
| Q1 25 | — | 54.5% | ||
| Q4 24 | — | 56.3% | ||
| Q3 24 | — | 50.8% | ||
| Q2 24 | — | 50.2% | ||
| Q1 24 | — | 53.1% |
| Q4 25 | -2.6% | 12.0% | ||
| Q3 25 | 4.6% | 5.9% | ||
| Q2 25 | 16.3% | 4.3% | ||
| Q1 25 | 22.2% | 7.4% | ||
| Q4 24 | -17.8% | 13.1% | ||
| Q3 24 | 7.3% | 2.7% | ||
| Q2 24 | 42.8% | 1.5% | ||
| Q1 24 | 50.2% | 3.4% |
| Q4 25 | -26.8% | 8.0% | ||
| Q3 25 | -22.6% | 3.4% | ||
| Q2 25 | -10.1% | 2.8% | ||
| Q1 25 | -7.2% | 5.4% | ||
| Q4 24 | -45.1% | 7.9% | ||
| Q3 24 | -20.9% | 1.5% | ||
| Q2 24 | 15.9% | 0.2% | ||
| Q1 24 | 23.5% | 0.3% |
| Q4 25 | $-12.85 | $0.67 | ||
| Q3 25 | $-11.35 | $0.30 | ||
| Q2 25 | $-6.88 | $-0.02 | ||
| Q1 25 | $-4.91 | $0.41 | ||
| Q4 24 | $-13.64 | $0.63 | ||
| Q3 24 | $-12.39 | $0.04 | ||
| Q2 24 | $2.50 | $-0.06 | ||
| Q1 24 | $5.99 | $-0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $66.1M | $174.1M |
| Total DebtLower is stronger | $2.5B | $94.7M |
| Stockholders' EquityBook value | $-626.4M | $294.8M |
| Total Assets | $2.8B | $521.4M |
| Debt / EquityLower = less leverage | — | 0.32× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $174.1M | ||
| Q3 25 | $81.9M | $191.3M | ||
| Q2 25 | $100.0M | $174.9M | ||
| Q1 25 | $85.8M | $161.6M | ||
| Q4 24 | $112.9M | $131.9M | ||
| Q3 24 | $119.7M | $135.4M | ||
| Q2 24 | $121.8M | $129.8M | ||
| Q1 24 | $111.1M | $125.3M |
| Q4 25 | $2.5B | $94.7M | ||
| Q3 25 | $2.6B | $94.4M | ||
| Q2 25 | $2.6B | $94.1M | ||
| Q1 25 | $2.7B | $93.7M | ||
| Q4 24 | $2.6B | $93.4M | ||
| Q3 24 | $2.7B | $93.1M | ||
| Q2 24 | $2.8B | $92.8M | ||
| Q1 24 | $2.9B | $95.0M |
| Q4 25 | $-626.4M | $294.8M | ||
| Q3 25 | $-548.7M | $279.3M | ||
| Q2 25 | $-485.5M | $272.2M | ||
| Q1 25 | $-446.1M | $310.0M | ||
| Q4 24 | $-419.2M | $303.9M | ||
| Q3 24 | $-288.4M | $290.4M | ||
| Q2 24 | $-225.9M | $288.7M | ||
| Q1 24 | $-276.8M | $288.5M |
| Q4 25 | $2.8B | $521.4M | ||
| Q3 25 | $3.0B | $525.3M | ||
| Q2 25 | $3.1B | $537.4M | ||
| Q1 25 | $3.1B | $578.7M | ||
| Q4 24 | $3.2B | $570.1M | ||
| Q3 24 | $3.3B | $569.6M | ||
| Q2 24 | $3.3B | $560.7M | ||
| Q1 24 | $3.5B | $559.0M |
| Q4 25 | — | 0.32× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 0.31× | ||
| Q3 24 | — | 0.32× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.33× |
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 | $-15.7M | $-11.6M |
| Free Cash FlowOCF − Capex | $-86.8M | $-15.6M |
| FCF MarginFCF / Revenue | -33.5% | -9.9% |
| Capex IntensityCapex / Revenue | 27.5% | 2.6% |
| Cash ConversionOCF / Net Profit | — | -0.92× |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $46.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | $-11.6M | ||
| Q3 25 | $5.5M | $21.7M | ||
| Q2 25 | $16.3M | $14.8M | ||
| Q1 25 | $-25.0M | $37.0M | ||
| Q4 24 | $-23.6M | $1.6M | ||
| Q3 24 | $795.0K | $14.1M | ||
| Q2 24 | $8.0M | $12.5M | ||
| Q1 24 | $-46.5M | $20.7M |
| Q4 25 | $-86.8M | $-15.6M | ||
| Q3 25 | $-226.0K | $17.5M | ||
| Q2 25 | $-3.6M | $11.1M | ||
| Q1 25 | $-44.8M | $33.1M | ||
| Q4 24 | $-131.6M | $-1.8M | ||
| Q3 24 | $-21.8M | $7.8M | ||
| Q2 24 | $-22.9M | $7.3M | ||
| Q1 24 | $-80.4M | $14.5M |
| Q4 25 | -33.5% | -9.9% | ||
| Q3 25 | -0.1% | 10.7% | ||
| Q2 25 | -1.2% | 6.8% | ||
| Q1 25 | -16.2% | 20.1% | ||
| Q4 24 | -47.8% | -1.1% | ||
| Q3 24 | -7.9% | 5.1% | ||
| Q2 24 | -7.2% | 4.7% | ||
| Q1 24 | -26.5% | 9.4% |
| Q4 25 | 27.5% | 2.6% | ||
| Q3 25 | 2.1% | 2.6% | ||
| Q2 25 | 6.6% | 2.3% | ||
| Q1 25 | 7.2% | 2.4% | ||
| Q4 24 | 39.2% | 2.0% | ||
| Q3 24 | 8.2% | 4.1% | ||
| Q2 24 | 9.8% | 3.4% | ||
| Q1 24 | 11.2% | 4.0% |
| Q4 25 | — | -0.92× | ||
| Q3 25 | — | 3.90× | ||
| Q2 25 | — | 3.29× | ||
| Q1 25 | — | 4.16× | ||
| Q4 24 | — | 0.12× | ||
| Q3 24 | — | 6.22× | ||
| Q2 24 | 0.16× | 33.57× | ||
| Q1 24 | -0.65× | 40.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AHT
| Occupancy | $190.2M | 73% |
| Food And Beverage | $51.8M | 20% |
| Hotel Other | $16.6M | 6% |
APEI
| American Public Education Inc Segment | $71.0M | 45% |
| Rasmussen University Segment | $66.6M | 42% |
| Hondros College Of Nursing Segment | $20.7M | 13% |
