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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and BLACKBERRY Ltd (BB). 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 $141.8M, roughly 1.8× BLACKBERRY Ltd). BLACKBERRY Ltd runs the higher net margin — 9.7% vs -26.8%, a 36.4% gap on every dollar of revenue. On growth, BLACKBERRY Ltd posted the faster year-over-year revenue change (-0.8% vs -6.0%). BLACKBERRY Ltd produced more free cash flow last quarter ($17.4M vs $-86.8M). Over the past eight quarters, BLACKBERRY Ltd's revenue compounded faster (17.8% 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.
BlackBerry Limited, formerly Research In Motion (RIM), is a Canadian software company specializing in secure communications and the Internet of Things (IoT). Founded in 1984, it developed the BlackBerry brand of two-way pagers, smartphones, and tablets. The company later transitioned to providing software and services and holds critical software application patents.
AHT vs BB — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $141.8M |
| Net Profit | $-69.3M | $13.7M |
| Gross Margin | — | 77.5% |
| Operating Margin | -2.6% | 8.4% |
| Net Margin | -26.8% | 9.7% |
| Revenue YoY | -6.0% | -0.8% |
| Net Profit YoY | 44.2% | 224.5% |
| EPS (diluted) | $-12.85 | $0.02 |
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 | $141.8M | ||
| Q3 25 | $266.1M | $129.6M | ||
| Q2 25 | $302.0M | $121.7M | ||
| Q1 25 | $277.4M | $141.7M | ||
| Q4 24 | $275.5M | $143.6M | ||
| Q3 24 | $276.6M | $126.2M | ||
| Q2 24 | $316.5M | $123.4M | ||
| Q1 24 | $303.9M | $102.1M |
| Q4 25 | $-69.3M | $13.7M | ||
| Q3 25 | $-60.1M | $13.3M | ||
| Q2 25 | $-30.4M | $1.9M | ||
| Q1 25 | $-20.0M | $-7.4M | ||
| Q4 24 | $-124.2M | $-10.5M | ||
| Q3 24 | $-57.9M | $-19.7M | ||
| Q2 24 | $50.3M | $-41.4M | ||
| Q1 24 | $71.6M | $-56.2M |
| Q4 25 | — | 77.5% | ||
| Q3 25 | — | 74.5% | ||
| Q2 25 | — | 74.2% | ||
| Q1 25 | — | 73.5% | ||
| Q4 24 | — | 78.1% | ||
| Q3 24 | — | 70.2% | ||
| Q2 24 | — | 72.9% | ||
| Q1 24 | — | — |
| Q4 25 | -2.6% | 8.4% | ||
| Q3 25 | 4.6% | 8.9% | ||
| Q2 25 | 16.3% | 1.6% | ||
| Q1 25 | 22.2% | -5.6% | ||
| Q4 24 | -17.8% | 13.6% | ||
| Q3 24 | 7.3% | 1.7% | ||
| Q2 24 | 42.8% | -10.5% | ||
| Q1 24 | 50.2% | 50.0% |
| Q4 25 | -26.8% | 9.7% | ||
| Q3 25 | -22.6% | 10.3% | ||
| Q2 25 | -10.1% | 1.6% | ||
| Q1 25 | -7.2% | -5.2% | ||
| Q4 24 | -45.1% | -7.3% | ||
| Q3 24 | -20.9% | -15.6% | ||
| Q2 24 | 15.9% | -33.5% | ||
| Q1 24 | 23.5% | -55.0% |
| Q4 25 | $-12.85 | $0.02 | ||
| Q3 25 | $-11.35 | $0.02 | ||
| Q2 25 | $-6.88 | $0.00 | ||
| Q1 25 | $-4.91 | $-0.01 | ||
| Q4 24 | $-13.64 | $-0.02 | ||
| Q3 24 | $-12.39 | $-0.03 | ||
| Q2 24 | $2.50 | $-0.07 | ||
| Q1 24 | $5.99 | $-0.08 |
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 | $304.2M |
| Total DebtLower is stronger | $2.5B | $196.2M |
| Stockholders' EquityBook value | $-626.4M | $741.1M |
| Total Assets | $2.8B | $1.2B |
| Debt / EquityLower = less leverage | — | 0.26× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $304.2M | ||
| Q3 25 | $81.9M | $290.5M | ||
| Q2 25 | $100.0M | $306.6M | ||
| Q1 25 | $85.8M | $337.8M | ||
| Q4 24 | $112.9M | $220.0M | ||
| Q3 24 | $119.7M | $211.0M | ||
| Q2 24 | $121.8M | $229.0M | ||
| Q1 24 | $111.1M | $237.1M |
| Q4 25 | $2.5B | $196.2M | ||
| Q3 25 | $2.6B | $195.9M | ||
| Q2 25 | $2.6B | $195.6M | ||
| Q1 25 | $2.7B | $195.3M | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $2.9B | $194.1M |
| Q4 25 | $-626.4M | $741.1M | ||
| Q3 25 | $-548.7M | $725.1M | ||
| Q2 25 | $-485.5M | $725.1M | ||
| Q1 25 | $-446.1M | $719.9M | ||
| Q4 24 | $-419.2M | $725.2M | ||
| Q3 24 | $-288.4M | $732.1M | ||
| Q2 24 | $-225.9M | $742.6M | ||
| Q1 24 | $-276.8M | $775.1M |
| Q4 25 | $2.8B | $1.2B | ||
| Q3 25 | $3.0B | $1.2B | ||
| Q2 25 | $3.1B | $1.2B | ||
| Q1 25 | $3.1B | $1.3B | ||
| Q4 24 | $3.2B | $1.3B | ||
| Q3 24 | $3.3B | $1.3B | ||
| Q2 24 | $3.3B | $1.3B | ||
| Q1 24 | $3.5B | $1.4B |
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.27× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.25× |
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 | $18.3M |
| Free Cash FlowOCF − Capex | $-86.8M | $17.4M |
| FCF MarginFCF / Revenue | -33.5% | 12.3% |
| Capex IntensityCapex / Revenue | 27.5% | 0.6% |
| Cash ConversionOCF / Net Profit | — | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $42.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | $18.3M | ||
| Q3 25 | $5.5M | $3.9M | ||
| Q2 25 | $16.3M | $-18.0M | ||
| Q1 25 | $-25.0M | $41.6M | ||
| Q4 24 | $-23.6M | $6.0M | ||
| Q3 24 | $795.0K | $-16.0M | ||
| Q2 24 | $8.0M | $-15.1M | ||
| Q1 24 | $-46.5M | $-15.5M |
| Q4 25 | $-86.8M | $17.4M | ||
| Q3 25 | $-226.0K | $3.1M | ||
| Q2 25 | $-3.6M | $-18.9M | ||
| Q1 25 | $-44.8M | $41.2M | ||
| Q4 24 | $-131.6M | $5.2M | ||
| Q3 24 | $-21.8M | $-16.5M | ||
| Q2 24 | $-22.9M | $-16.5M | ||
| Q1 24 | $-80.4M | $-17.6M |
| Q4 25 | -33.5% | 12.3% | ||
| Q3 25 | -0.1% | 2.4% | ||
| Q2 25 | -1.2% | -15.5% | ||
| Q1 25 | -16.2% | 29.1% | ||
| Q4 24 | -47.8% | 3.6% | ||
| Q3 24 | -7.9% | -13.1% | ||
| Q2 24 | -7.2% | -13.4% | ||
| Q1 24 | -26.5% | -17.2% |
| Q4 25 | 27.5% | 0.6% | ||
| Q3 25 | 2.1% | 0.6% | ||
| Q2 25 | 6.6% | 0.7% | ||
| Q1 25 | 7.2% | 0.3% | ||
| Q4 24 | 39.2% | 0.6% | ||
| Q3 24 | 8.2% | 0.4% | ||
| Q2 24 | 9.8% | 1.1% | ||
| Q1 24 | 11.2% | 2.1% |
| Q4 25 | — | 1.34× | ||
| Q3 25 | — | 0.29× | ||
| Q2 25 | — | -9.47× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.16× | — | ||
| Q1 24 | -0.65× | — |
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% |
BB
| QNX | $68.7M | 48% |
| Secure Communication | $67.0M | 47% |
| Licensing | $6.1M | 4% |
