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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and BADGER METER INC (BMI). 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 $234.1M, roughly 1.1× BADGER METER INC). BADGER METER INC runs the higher net margin — 14.3% vs -26.8%, a 41.1% gap on every dollar of revenue. On growth, BADGER METER INC posted the faster year-over-year revenue change (14.1% vs -6.0%). BADGER METER INC produced more free cash flow last quarter ($50.8M vs $-86.8M). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% 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.
Badger Meter Inc. is a leading global provider of flow measurement and control solutions, serving water utilities, industrial, commercial, and residential customer segments. Its core offerings include smart water meters, IoT-enabled usage monitoring systems, and supporting software that help clients track resource consumption, cut waste, and boost operational efficiency, with key markets spanning North America, Europe, and the Asia-Pacific region.
AHT vs BMI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $234.1M |
| Net Profit | $-69.3M | $33.6M |
| Gross Margin | — | 39.7% |
| Operating Margin | -2.6% | 18.4% |
| Net Margin | -26.8% | 14.3% |
| Revenue YoY | -6.0% | 14.1% |
| Net Profit YoY | 44.2% | 9.3% |
| EPS (diluted) | $-12.85 | $1.13 |
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 | $234.1M | ||
| Q3 25 | $266.1M | $222.2M | ||
| Q2 25 | $302.0M | $238.1M | ||
| Q1 25 | $277.4M | $222.2M | ||
| Q4 24 | $275.5M | $205.2M | ||
| Q3 24 | $276.6M | $208.4M | ||
| Q2 24 | $316.5M | $216.7M | ||
| Q1 24 | $303.9M | $196.3M |
| Q4 25 | $-69.3M | $33.6M | ||
| Q3 25 | $-60.1M | $35.1M | ||
| Q2 25 | $-30.4M | $34.6M | ||
| Q1 25 | $-20.0M | $38.4M | ||
| Q4 24 | $-124.2M | $30.7M | ||
| Q3 24 | $-57.9M | $32.0M | ||
| Q2 24 | $50.3M | $33.1M | ||
| Q1 24 | $71.6M | $29.1M |
| Q4 25 | — | 39.7% | ||
| Q3 25 | — | 43.1% | ||
| Q2 25 | — | 41.1% | ||
| Q1 25 | — | 42.9% | ||
| Q4 24 | — | 40.3% | ||
| Q3 24 | — | 40.2% | ||
| Q2 24 | — | 39.4% | ||
| Q1 24 | — | 39.3% |
| Q4 25 | -2.6% | 18.4% | ||
| Q3 25 | 4.6% | 20.7% | ||
| Q2 25 | 16.3% | 18.8% | ||
| Q1 25 | 22.2% | 22.2% | ||
| Q4 24 | -17.8% | 19.1% | ||
| Q3 24 | 7.3% | 19.5% | ||
| Q2 24 | 42.8% | 19.2% | ||
| Q1 24 | 50.2% | 18.6% |
| Q4 25 | -26.8% | 14.3% | ||
| Q3 25 | -22.6% | 15.8% | ||
| Q2 25 | -10.1% | 14.5% | ||
| Q1 25 | -7.2% | 17.3% | ||
| Q4 24 | -45.1% | 15.0% | ||
| Q3 24 | -20.9% | 15.4% | ||
| Q2 24 | 15.9% | 15.3% | ||
| Q1 24 | 23.5% | 14.8% |
| Q4 25 | $-12.85 | $1.13 | ||
| Q3 25 | $-11.35 | $1.19 | ||
| Q2 25 | $-6.88 | $1.17 | ||
| Q1 25 | $-4.91 | $1.30 | ||
| Q4 24 | $-13.64 | $1.04 | ||
| Q3 24 | $-12.39 | $1.08 | ||
| Q2 24 | $2.50 | $1.12 | ||
| Q1 24 | $5.99 | $0.99 |
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 | — |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $-626.4M | $713.3M |
| Total Assets | $2.8B | $973.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | — | ||
| Q3 25 | $81.9M | — | ||
| Q2 25 | $100.0M | — | ||
| Q1 25 | $85.8M | — | ||
| Q4 24 | $112.9M | — | ||
| Q3 24 | $119.7M | — | ||
| Q2 24 | $121.8M | — | ||
| Q1 24 | $111.1M | — |
| 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 | $713.3M | ||
| Q3 25 | $-548.7M | $702.5M | ||
| Q2 25 | $-485.5M | $677.6M | ||
| Q1 25 | $-446.1M | $641.7M | ||
| Q4 24 | $-419.2M | $606.2M | ||
| Q3 24 | $-288.4M | $591.2M | ||
| Q2 24 | $-225.9M | $563.1M | ||
| Q1 24 | $-276.8M | $535.6M |
| Q4 25 | $2.8B | $973.6M | ||
| Q3 25 | $3.0B | $978.3M | ||
| Q2 25 | $3.1B | $936.4M | ||
| Q1 25 | $3.1B | $899.6M | ||
| Q4 24 | $3.2B | $816.4M | ||
| Q3 24 | $3.3B | $802.9M | ||
| Q2 24 | $3.3B | $781.3M | ||
| Q1 24 | $3.5B | $743.5M |
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 | $54.8M |
| Free Cash FlowOCF − Capex | $-86.8M | $50.8M |
| FCF MarginFCF / Revenue | -33.5% | 21.7% |
| Capex IntensityCapex / Revenue | 27.5% | 1.7% |
| Cash ConversionOCF / Net Profit | — | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $169.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | $54.8M | ||
| Q3 25 | $5.5M | $51.3M | ||
| Q2 25 | $16.3M | $44.6M | ||
| Q1 25 | $-25.0M | $33.0M | ||
| Q4 24 | $-23.6M | $52.1M | ||
| Q3 24 | $795.0K | $45.1M | ||
| Q2 24 | $8.0M | $36.4M | ||
| Q1 24 | $-46.5M | $21.5M |
| Q4 25 | $-86.8M | $50.8M | ||
| Q3 25 | $-226.0K | $48.2M | ||
| Q2 25 | $-3.6M | $40.6M | ||
| Q1 25 | $-44.8M | $30.1M | ||
| Q4 24 | $-131.6M | $47.4M | ||
| Q3 24 | $-21.8M | $42.0M | ||
| Q2 24 | $-22.9M | $34.1M | ||
| Q1 24 | $-80.4M | $18.8M |
| Q4 25 | -33.5% | 21.7% | ||
| Q3 25 | -0.1% | 21.7% | ||
| Q2 25 | -1.2% | 17.1% | ||
| Q1 25 | -16.2% | 13.5% | ||
| Q4 24 | -47.8% | 23.1% | ||
| Q3 24 | -7.9% | 20.1% | ||
| Q2 24 | -7.2% | 15.7% | ||
| Q1 24 | -26.5% | 9.6% |
| Q4 25 | 27.5% | 1.7% | ||
| Q3 25 | 2.1% | 1.4% | ||
| Q2 25 | 6.6% | 1.7% | ||
| Q1 25 | 7.2% | 1.3% | ||
| Q4 24 | 39.2% | 2.3% | ||
| Q3 24 | 8.2% | 1.5% | ||
| Q2 24 | 9.8% | 1.1% | ||
| Q1 24 | 11.2% | 1.4% |
| Q4 25 | — | 1.63× | ||
| Q3 25 | — | 1.46× | ||
| Q2 25 | — | 1.29× | ||
| Q1 25 | — | 0.86× | ||
| Q4 24 | — | 1.70× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | 0.16× | 1.10× | ||
| Q1 24 | -0.65× | 0.74× |
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% |
BMI
| Transferred At Point In Time | $198.6M | 85% |
| Transferred Over Time | $22.1M | 9% |
| Other | $13.4M | 6% |
