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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI). 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 $240.5M, roughly 1.1× COGENT COMMUNICATIONS HOLDINGS, INC.). COGENT COMMUNICATIONS HOLDINGS, INC. runs the higher net margin — -12.8% vs -26.8%, a 14.0% gap on every dollar of revenue. On growth, COGENT COMMUNICATIONS HOLDINGS, INC. posted the faster year-over-year revenue change (-4.7% vs -6.0%). COGENT COMMUNICATIONS HOLDINGS, INC. produced more free cash flow last quarter ($-43.0M vs $-86.8M). Over the past eight quarters, COGENT COMMUNICATIONS HOLDINGS, INC.'s revenue compounded faster (-4.9% 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.
Cogent Communications Holdings, Inc. is a multinational internet service provider based in the United States. Cogent's primary services consist of Internet access and data transport, offered on a fiber optic, IP data-only network, along with colocation in data centers.
AHT vs CCOI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $240.5M |
| Net Profit | $-69.3M | $-30.8M |
| Gross Margin | — | 46.6% |
| Operating Margin | -2.6% | -4.7% |
| Net Margin | -26.8% | -12.8% |
| Revenue YoY | -6.0% | -4.7% |
| Net Profit YoY | 44.2% | 28.9% |
| EPS (diluted) | $-12.85 | $-0.63 |
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 | $240.5M | ||
| Q3 25 | $266.1M | $241.9M | ||
| Q2 25 | $302.0M | $246.2M | ||
| Q1 25 | $277.4M | $247.0M | ||
| Q4 24 | $275.5M | $252.3M | ||
| Q3 24 | $276.6M | $257.2M | ||
| Q2 24 | $316.5M | $260.4M | ||
| Q1 24 | $303.9M | $266.2M |
| Q4 25 | $-69.3M | $-30.8M | ||
| Q3 25 | $-60.1M | $-41.5M | ||
| Q2 25 | $-30.4M | $-57.8M | ||
| Q1 25 | $-20.0M | $-52.0M | ||
| Q4 24 | $-124.2M | $-43.3M | ||
| Q3 24 | $-57.9M | $-63.1M | ||
| Q2 24 | $50.3M | $-32.3M | ||
| Q1 24 | $71.6M | $-65.3M |
| Q4 25 | — | 46.6% | ||
| Q3 25 | — | 45.6% | ||
| Q2 25 | — | 44.2% | ||
| Q1 25 | — | 44.4% | ||
| Q4 24 | — | 38.5% | ||
| Q3 24 | — | 37.2% | ||
| Q2 24 | — | 40.0% | ||
| Q1 24 | — | 36.5% |
| Q4 25 | -2.6% | -4.7% | ||
| Q3 25 | 4.6% | -7.5% | ||
| Q2 25 | 16.3% | -12.8% | ||
| Q1 25 | 22.2% | -16.3% | ||
| Q4 24 | -17.8% | -13.2% | ||
| Q3 24 | 7.3% | -22.5% | ||
| Q2 24 | 42.8% | -18.1% | ||
| Q1 24 | 50.2% | -22.3% |
| Q4 25 | -26.8% | -12.8% | ||
| Q3 25 | -22.6% | -17.2% | ||
| Q2 25 | -10.1% | -23.5% | ||
| Q1 25 | -7.2% | -21.1% | ||
| Q4 24 | -45.1% | -17.2% | ||
| Q3 24 | -20.9% | -24.5% | ||
| Q2 24 | 15.9% | -12.4% | ||
| Q1 24 | 23.5% | -24.5% |
| Q4 25 | $-12.85 | $-0.63 | ||
| Q3 25 | $-11.35 | $-0.87 | ||
| Q2 25 | $-6.88 | $-1.21 | ||
| Q1 25 | $-4.91 | $-1.09 | ||
| Q4 24 | $-13.64 | $-0.89 | ||
| Q3 24 | $-12.39 | $-1.33 | ||
| Q2 24 | $2.50 | $-0.68 | ||
| Q1 24 | $5.99 | $-1.38 |
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 | $148.5M |
| Total DebtLower is stronger | $2.5B | $1.7B |
| Stockholders' EquityBook value | $-626.4M | $-63.8M |
| Total Assets | $2.8B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $148.5M | ||
| Q3 25 | $81.9M | $147.1M | ||
| Q2 25 | $100.0M | $213.7M | ||
| Q1 25 | $85.8M | $153.8M | ||
| Q4 24 | $112.9M | $198.5M | ||
| Q3 24 | $119.7M | $279.2M | ||
| Q2 24 | $121.8M | $384.4M | ||
| Q1 24 | $111.1M | $118.4M |
| Q4 25 | $2.5B | $1.7B | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.6B | $1.5B | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $2.9B | — |
| Q4 25 | $-626.4M | $-63.8M | ||
| Q3 25 | $-548.7M | $-39.2M | ||
| Q2 25 | $-485.5M | $46.7M | ||
| Q1 25 | $-446.1M | $142.8M | ||
| Q4 24 | $-419.2M | $222.8M | ||
| Q3 24 | $-288.4M | $323.6M | ||
| Q2 24 | $-225.9M | $415.5M | ||
| Q1 24 | $-276.8M | $500.6M |
| Q4 25 | $2.8B | $3.1B | ||
| Q3 25 | $3.0B | $3.1B | ||
| Q2 25 | $3.1B | $3.3B | ||
| Q1 25 | $3.1B | $3.1B | ||
| Q4 24 | $3.2B | $3.2B | ||
| Q3 24 | $3.3B | $3.2B | ||
| Q2 24 | $3.3B | $3.3B | ||
| Q1 24 | $3.5B | $3.1B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.53× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $-6.0M |
| Free Cash FlowOCF − Capex | $-86.8M | $-43.0M |
| FCF MarginFCF / Revenue | -33.5% | -17.9% |
| Capex IntensityCapex / Revenue | 27.5% | 15.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $-198.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | $-6.0M | ||
| Q3 25 | $5.5M | $3.1M | ||
| Q2 25 | $16.3M | $-44.0M | ||
| Q1 25 | $-25.0M | $36.4M | ||
| Q4 24 | $-23.6M | $14.5M | ||
| Q3 24 | $795.0K | $-20.2M | ||
| Q2 24 | $8.0M | $-22.2M | ||
| Q1 24 | $-46.5M | $19.2M |
| Q4 25 | $-86.8M | $-43.0M | ||
| Q3 25 | $-226.0K | $-33.1M | ||
| Q2 25 | $-3.6M | $-100.2M | ||
| Q1 25 | $-44.8M | $-21.7M | ||
| Q4 24 | $-131.6M | $-31.6M | ||
| Q3 24 | $-21.8M | $-79.5M | ||
| Q2 24 | $-22.9M | $-70.9M | ||
| Q1 24 | $-80.4M | $-21.7M |
| Q4 25 | -33.5% | -17.9% | ||
| Q3 25 | -0.1% | -13.7% | ||
| Q2 25 | -1.2% | -40.7% | ||
| Q1 25 | -16.2% | -8.8% | ||
| Q4 24 | -47.8% | -12.5% | ||
| Q3 24 | -7.9% | -30.9% | ||
| Q2 24 | -7.2% | -27.2% | ||
| Q1 24 | -26.5% | -8.1% |
| Q4 25 | 27.5% | 15.4% | ||
| Q3 25 | 2.1% | 15.0% | ||
| Q2 25 | 6.6% | 22.8% | ||
| Q1 25 | 7.2% | 23.5% | ||
| Q4 24 | 39.2% | 18.3% | ||
| Q3 24 | 8.2% | 23.0% | ||
| Q2 24 | 9.8% | 18.7% | ||
| Q1 24 | 11.2% | 15.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| 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% |
CCOI
Segment breakdown not available.
