vs
Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and BLACKLINE, INC. (BL). 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 $183.2M, roughly 1.4× BLACKLINE, INC.). BLACKLINE, INC. runs the higher net margin — 2.7% vs -26.8%, a 29.4% gap on every dollar of revenue. On growth, BLACKLINE, INC. posted the faster year-over-year revenue change (8.1% vs -6.0%). BLACKLINE, INC. produced more free cash flow last quarter ($26.1M vs $-86.8M). Over the past eight quarters, BLACKLINE, INC.'s revenue compounded faster (7.9% 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.
BlackLine Systems, Inc., is an American enterprise software company that develops cloud-based services designed to automate and manage the entire financial close process as well as consolidation, invoice-to-cash, and intercompany accounting. The Los Angeles–based company has 17 offices worldwide.
AHT vs BL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $183.2M |
| Net Profit | $-69.3M | $4.9M |
| Gross Margin | — | 75.2% |
| Operating Margin | -2.6% | 3.7% |
| Net Margin | -26.8% | 2.7% |
| Revenue YoY | -6.0% | 8.1% |
| Net Profit YoY | 44.2% | -91.3% |
| EPS (diluted) | $-12.85 | $0.07 |
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 | $183.2M | ||
| Q3 25 | $266.1M | $178.3M | ||
| Q2 25 | $302.0M | $172.0M | ||
| Q1 25 | $277.4M | $166.9M | ||
| Q4 24 | $275.5M | $169.5M | ||
| Q3 24 | $276.6M | $165.9M | ||
| Q2 24 | $316.5M | $160.5M | ||
| Q1 24 | $303.9M | $157.5M |
| Q4 25 | $-69.3M | $4.9M | ||
| Q3 25 | $-60.1M | $5.3M | ||
| Q2 25 | $-30.4M | $8.3M | ||
| Q1 25 | $-20.0M | $6.1M | ||
| Q4 24 | $-124.2M | $56.4M | ||
| Q3 24 | $-57.9M | $17.2M | ||
| Q2 24 | $50.3M | $76.7M | ||
| Q1 24 | $71.6M | $10.8M |
| Q4 25 | — | 75.2% | ||
| Q3 25 | — | 75.1% | ||
| Q2 25 | — | 75.2% | ||
| Q1 25 | — | 75.5% | ||
| Q4 24 | — | 75.6% | ||
| Q3 24 | — | 75.2% | ||
| Q2 24 | — | 74.9% | ||
| Q1 24 | — | 75.2% |
| Q4 25 | -2.6% | 3.7% | ||
| Q3 25 | 4.6% | 4.3% | ||
| Q2 25 | 16.3% | 4.4% | ||
| Q1 25 | 22.2% | 2.1% | ||
| Q4 24 | -17.8% | 3.7% | ||
| Q3 24 | 7.3% | 5.0% | ||
| Q2 24 | 42.8% | 1.4% | ||
| Q1 24 | 50.2% | 1.1% |
| Q4 25 | -26.8% | 2.7% | ||
| Q3 25 | -22.6% | 3.0% | ||
| Q2 25 | -10.1% | 4.8% | ||
| Q1 25 | -7.2% | 3.6% | ||
| Q4 24 | -45.1% | 33.3% | ||
| Q3 24 | -20.9% | 10.4% | ||
| Q2 24 | 15.9% | 47.8% | ||
| Q1 24 | 23.5% | 6.9% |
| Q4 25 | $-12.85 | $0.07 | ||
| Q3 25 | $-11.35 | $0.09 | ||
| Q2 25 | $-6.88 | $0.13 | ||
| Q1 25 | $-4.91 | $0.10 | ||
| Q4 24 | $-13.64 | $0.79 | ||
| Q3 24 | $-12.39 | $0.27 | ||
| Q2 24 | $2.50 | $0.22 | ||
| Q1 24 | $5.99 | $0.17 |
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 | $390.0M |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $-626.4M | $332.3M |
| Total Assets | $2.8B | $1.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $390.0M | ||
| Q3 25 | $81.9M | $419.9M | ||
| Q2 25 | $100.0M | $459.1M | ||
| Q1 25 | $85.8M | $479.5M | ||
| Q4 24 | $112.9M | $885.9M | ||
| Q3 24 | $119.7M | $725.3M | ||
| Q2 24 | $121.8M | $616.6M | ||
| Q1 24 | $111.1M | $331.4M |
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $2.9B | — |
| Q4 25 | $-626.4M | $332.3M | ||
| Q3 25 | $-548.7M | $328.3M | ||
| Q2 25 | $-485.5M | $414.0M | ||
| Q1 25 | $-446.1M | $417.9M | ||
| Q4 24 | $-419.2M | $446.7M | ||
| Q3 24 | $-288.4M | $367.9M | ||
| Q2 24 | $-225.9M | $325.8M | ||
| Q1 24 | $-276.8M | $279.8M |
| Q4 25 | $2.8B | $1.8B | ||
| Q3 25 | $3.0B | $1.7B | ||
| Q2 25 | $3.1B | $1.8B | ||
| Q1 25 | $3.1B | $1.8B | ||
| Q4 24 | $3.2B | $1.8B | ||
| Q3 24 | $3.3B | $1.7B | ||
| Q2 24 | $3.3B | $1.9B | ||
| Q1 24 | $3.5B | $2.1B |
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 | $26.7M |
| Free Cash FlowOCF − Capex | $-86.8M | $26.1M |
| FCF MarginFCF / Revenue | -33.5% | 14.2% |
| Capex IntensityCapex / Revenue | 27.5% | 0.3% |
| Cash ConversionOCF / Net Profit | — | 5.46× |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $161.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | $26.7M | ||
| Q3 25 | $5.5M | $63.8M | ||
| Q2 25 | $16.3M | $32.3M | ||
| Q1 25 | $-25.0M | $46.7M | ||
| Q4 24 | $-23.6M | $43.8M | ||
| Q3 24 | $795.0K | $55.9M | ||
| Q2 24 | $8.0M | $40.7M | ||
| Q1 24 | $-46.5M | $50.4M |
| Q4 25 | $-86.8M | $26.1M | ||
| Q3 25 | $-226.0K | $63.3M | ||
| Q2 25 | $-3.6M | $31.4M | ||
| Q1 25 | $-44.8M | $40.8M | ||
| Q4 24 | $-131.6M | $43.0M | ||
| Q3 24 | $-21.8M | $55.5M | ||
| Q2 24 | $-22.9M | $40.0M | ||
| Q1 24 | $-80.4M | $50.1M |
| Q4 25 | -33.5% | 14.2% | ||
| Q3 25 | -0.1% | 35.5% | ||
| Q2 25 | -1.2% | 18.2% | ||
| Q1 25 | -16.2% | 24.4% | ||
| Q4 24 | -47.8% | 25.4% | ||
| Q3 24 | -7.9% | 33.5% | ||
| Q2 24 | -7.2% | 24.9% | ||
| Q1 24 | -26.5% | 31.8% |
| Q4 25 | 27.5% | 0.3% | ||
| Q3 25 | 2.1% | 0.3% | ||
| Q2 25 | 6.6% | 0.6% | ||
| Q1 25 | 7.2% | 3.6% | ||
| Q4 24 | 39.2% | 0.4% | ||
| Q3 24 | 8.2% | 0.2% | ||
| Q2 24 | 9.8% | 0.4% | ||
| Q1 24 | 11.2% | 0.2% |
| Q4 25 | — | 5.46× | ||
| Q3 25 | — | 12.07× | ||
| Q2 25 | — | 3.90× | ||
| Q1 25 | — | 7.72× | ||
| Q4 24 | — | 0.78× | ||
| Q3 24 | — | 3.24× | ||
| Q2 24 | 0.16× | 0.53× | ||
| Q1 24 | -0.65× | 4.66× |
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% |
BL
| Subscription And Circulation | $173.2M | 95% |
| Technology Service | $10.0M | 5% |
