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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and APOGEE ENTERPRISES, INC. (APOG). Click either name above to swap in a different company.
APOGEE ENTERPRISES, INC. is the larger business by last-quarter revenue ($351.4M vs $259.0M, roughly 1.4× ASHFORD HOSPITALITY TRUST INC). APOGEE ENTERPRISES, INC. runs the higher net margin — 4.7% vs -26.8%, a 31.5% gap on every dollar of revenue. On growth, APOGEE ENTERPRISES, INC. posted the faster year-over-year revenue change (1.6% vs -6.0%). Over the past eight quarters, APOGEE ENTERPRISES, INC.'s revenue compounded faster (2.9% 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.
Apogee Electronics is an American manufacturer of audio interfaces, analog-to-digital and digital-to-analog converters, USB & iOS microphones, and audio production software.
AHT vs APOG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2026
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $351.4M |
| Net Profit | $-69.3M | $16.6M |
| Gross Margin | — | 22.4% |
| Operating Margin | -2.6% | 7.3% |
| Net Margin | -26.8% | 4.7% |
| Revenue YoY | -6.0% | 1.6% |
| Net Profit YoY | 44.2% | 568.8% |
| EPS (diluted) | $-12.85 | $0.78 |
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 | — | $351.4M | ||
| Q4 25 | $259.0M | $348.6M | ||
| Q3 25 | $266.1M | $358.2M | ||
| Q2 25 | $302.0M | $346.6M | ||
| Q1 25 | $277.4M | $345.7M | ||
| Q4 24 | $275.5M | $341.3M | ||
| Q3 24 | $276.6M | $342.4M | ||
| Q2 24 | $316.5M | $331.5M |
| Q1 26 | — | $16.6M | ||
| Q4 25 | $-69.3M | $16.5M | ||
| Q3 25 | $-60.1M | $23.6M | ||
| Q2 25 | $-30.4M | $-2.7M | ||
| Q1 25 | $-20.0M | $2.5M | ||
| Q4 24 | $-124.2M | $21.0M | ||
| Q3 24 | $-57.9M | $30.6M | ||
| Q2 24 | $50.3M | $31.0M |
| Q1 26 | — | 22.4% | ||
| Q4 25 | — | 23.8% | ||
| Q3 25 | — | 23.1% | ||
| Q2 25 | — | 21.7% | ||
| Q1 25 | — | 21.6% | ||
| Q4 24 | — | 26.1% | ||
| Q3 24 | — | 28.4% | ||
| Q2 24 | — | 29.8% |
| Q1 26 | — | 7.3% | ||
| Q4 25 | -2.6% | 7.1% | ||
| Q3 25 | 4.6% | 7.5% | ||
| Q2 25 | 16.3% | 2.0% | ||
| Q1 25 | 22.2% | 1.8% | ||
| Q4 24 | -17.8% | 8.4% | ||
| Q3 24 | 7.3% | 12.3% | ||
| Q2 24 | 42.8% | 12.5% |
| Q1 26 | — | 4.7% | ||
| Q4 25 | -26.8% | 4.7% | ||
| Q3 25 | -22.6% | 6.6% | ||
| Q2 25 | -10.1% | -0.8% | ||
| Q1 25 | -7.2% | 0.7% | ||
| Q4 24 | -45.1% | 6.1% | ||
| Q3 24 | -20.9% | 8.9% | ||
| Q2 24 | 15.9% | 9.4% |
| Q1 26 | — | $0.78 | ||
| Q4 25 | $-12.85 | $0.77 | ||
| Q3 25 | $-11.35 | $1.10 | ||
| Q2 25 | $-6.88 | $-0.13 | ||
| Q1 25 | $-4.91 | $0.12 | ||
| Q4 24 | $-13.64 | $0.96 | ||
| Q3 24 | $-12.39 | $1.40 | ||
| Q2 24 | $2.50 | $1.41 |
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 | $39.5M |
| Total DebtLower is stronger | $2.5B | $232.3M |
| Stockholders' EquityBook value | $-626.4M | $511.8M |
| Total Assets | $2.8B | $1.1B |
| Debt / EquityLower = less leverage | — | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $39.5M | ||
| Q4 25 | $66.1M | $41.3M | ||
| Q3 25 | $81.9M | $39.5M | ||
| Q2 25 | $100.0M | $32.8M | ||
| Q1 25 | $85.8M | $41.4M | ||
| Q4 24 | $112.9M | $43.9M | ||
| Q3 24 | $119.7M | $51.0M | ||
| Q2 24 | $121.8M | $30.4M |
| Q1 26 | — | $232.3M | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.7B | $285.0M | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — |
| Q1 26 | — | $511.8M | ||
| Q4 25 | $-626.4M | $512.3M | ||
| Q3 25 | $-548.7M | $500.2M | ||
| Q2 25 | $-485.5M | $481.8M | ||
| Q1 25 | $-446.1M | $487.9M | ||
| Q4 24 | $-419.2M | $522.1M | ||
| Q3 24 | $-288.4M | $506.4M | ||
| Q2 24 | $-225.9M | $480.0M |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $2.8B | $1.1B | ||
| Q3 25 | $3.0B | $1.2B | ||
| Q2 25 | $3.1B | $1.2B | ||
| Q1 25 | $3.1B | $1.2B | ||
| Q4 24 | $3.2B | $1.2B | ||
| Q3 24 | $3.3B | $917.1M | ||
| Q2 24 | $3.3B | $889.0M |
| Q1 26 | — | 0.45× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | — | ||
| 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-15.7M | $122.5M |
| Free Cash FlowOCF − Capex | $-86.8M | — |
| FCF MarginFCF / Revenue | -33.5% | — |
| Capex IntensityCapex / Revenue | 27.5% | 7.8% |
| Cash ConversionOCF / Net Profit | — | 7.37× |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $122.5M | ||
| Q4 25 | $-15.7M | $29.3M | ||
| Q3 25 | $5.5M | $57.1M | ||
| Q2 25 | $16.3M | $-19.8M | ||
| Q1 25 | $-25.0M | $30.0M | ||
| Q4 24 | $-23.6M | $31.0M | ||
| Q3 24 | $795.0K | $58.7M | ||
| Q2 24 | $8.0M | $5.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-86.8M | $22.9M | ||
| Q3 25 | $-226.0K | $52.4M | ||
| Q2 25 | $-3.6M | $-26.9M | ||
| Q1 25 | $-44.8M | $19.1M | ||
| Q4 24 | $-131.6M | $22.0M | ||
| Q3 24 | $-21.8M | $50.2M | ||
| Q2 24 | $-22.9M | $-1.8M |
| Q1 26 | — | — | ||
| Q4 25 | -33.5% | 6.6% | ||
| Q3 25 | -0.1% | 14.6% | ||
| Q2 25 | -1.2% | -7.8% | ||
| Q1 25 | -16.2% | 5.5% | ||
| Q4 24 | -47.8% | 6.4% | ||
| Q3 24 | -7.9% | 14.7% | ||
| Q2 24 | -7.2% | -0.5% |
| Q1 26 | — | 7.8% | ||
| Q4 25 | 27.5% | 1.9% | ||
| Q3 25 | 2.1% | 1.3% | ||
| Q2 25 | 6.6% | 2.1% | ||
| Q1 25 | 7.2% | 3.2% | ||
| Q4 24 | 39.2% | 2.6% | ||
| Q3 24 | 8.2% | 2.5% | ||
| Q2 24 | 9.8% | 2.2% |
| Q1 26 | — | 7.37× | ||
| Q4 25 | — | 1.77× | ||
| Q3 25 | — | 2.41× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 12.08× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | — | 1.92× | ||
| Q2 24 | 0.16× | 0.18× |
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% |
APOG
| Architectural Services | $127.1M | 36% |
| Architectural Metals | $110.0M | 31% |
| Architectural Glass | $67.4M | 19% |
| Performance Surfaces | $54.3M | 15% |
