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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and Compass Diversified Holdings (CODI). Click either name above to swap in a different company.
Compass Diversified Holdings is the larger business by last-quarter revenue ($468.6M vs $259.0M, roughly 1.8× ASHFORD HOSPITALITY TRUST INC). Compass Diversified Holdings runs the higher net margin — -16.8% vs -26.8%, a 10.0% gap on every dollar of revenue. On growth, Compass Diversified Holdings posted the faster year-over-year revenue change (-5.1% vs -6.0%). Compass Diversified Holdings produced more free cash flow last quarter ($36.9M vs $-86.8M). Over the past eight quarters, Compass Diversified Holdings's revenue compounded faster (6.8% 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.
Compass Diversified Holdings is a publicly traded holding firm that acquires and operates a diverse portfolio of middle-market businesses across sectors including consumer goods, industrial manufacturing, outdoor recreation, and food & beverage. It partners with portfolio company leadership teams to drive long-term operational growth and value creation, primarily serving North American markets.
AHT vs CODI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $468.6M |
| Net Profit | $-69.3M | $-78.8M |
| Gross Margin | — | 43.1% |
| Operating Margin | -2.6% | 9.8% |
| Net Margin | -26.8% | -16.8% |
| Revenue YoY | -6.0% | -5.1% |
| Net Profit YoY | 44.2% | -14.4% |
| EPS (diluted) | $-12.85 | $-0.91 |
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 | $468.6M | ||
| Q3 25 | $266.1M | $472.6M | ||
| Q2 25 | $302.0M | $478.7M | ||
| Q1 25 | $277.4M | $453.8M | ||
| Q4 24 | $275.5M | $493.9M | ||
| Q3 24 | $276.6M | $456.6M | ||
| Q2 24 | $316.5M | $426.7M | ||
| Q1 24 | $303.9M | $410.8M |
| Q4 25 | $-69.3M | $-78.8M | ||
| Q3 25 | $-60.1M | $-74.0M | ||
| Q2 25 | $-30.4M | $-51.2M | ||
| Q1 25 | $-20.0M | $-30.0M | ||
| Q4 24 | $-124.2M | $-68.9M | ||
| Q3 24 | $-57.9M | $-36.0M | ||
| Q2 24 | $50.3M | $-73.1M | ||
| Q1 24 | $71.6M | $-56.2M |
| Q4 25 | — | 43.1% | ||
| Q3 25 | — | 44.0% | ||
| Q2 25 | — | 43.6% | ||
| Q1 25 | — | 43.2% | ||
| Q4 24 | — | 38.6% | ||
| Q3 24 | — | 43.1% | ||
| Q2 24 | — | 44.1% | ||
| Q1 24 | — | 42.6% |
| Q4 25 | -2.6% | 9.8% | ||
| Q3 25 | 4.6% | -2.3% | ||
| Q2 25 | 16.3% | -5.7% | ||
| Q1 25 | 22.2% | 0.8% | ||
| Q4 24 | -17.8% | -3.8% | ||
| Q3 24 | 7.3% | 1.8% | ||
| Q2 24 | 42.8% | 1.8% | ||
| Q1 24 | 50.2% | -2.9% |
| Q4 25 | -26.8% | -16.8% | ||
| Q3 25 | -22.6% | -15.7% | ||
| Q2 25 | -10.1% | -10.7% | ||
| Q1 25 | -7.2% | -6.6% | ||
| Q4 24 | -45.1% | -13.9% | ||
| Q3 24 | -20.9% | -7.9% | ||
| Q2 24 | 15.9% | -17.1% | ||
| Q1 24 | 23.5% | -13.7% |
| Q4 25 | $-12.85 | $-0.91 | ||
| Q3 25 | $-11.35 | $-1.21 | ||
| Q2 25 | $-6.88 | $-0.88 | ||
| Q1 25 | $-4.91 | $-0.59 | ||
| Q4 24 | $-13.64 | $-0.57 | ||
| Q3 24 | $-12.39 | $-0.62 | ||
| Q2 24 | $2.50 | $-1.12 | ||
| Q1 24 | $5.99 | $-1.52 |
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 | $68.0M |
| Total DebtLower is stronger | $2.5B | $1.9B |
| Stockholders' EquityBook value | $-626.4M | $442.0M |
| Total Assets | $2.8B | $3.0B |
| Debt / EquityLower = less leverage | — | 4.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $68.0M | ||
| Q3 25 | $81.9M | $61.1M | ||
| Q2 25 | $100.0M | $73.8M | ||
| Q1 25 | $85.8M | $146.2M | ||
| Q4 24 | $112.9M | $59.7M | ||
| Q3 24 | $119.7M | $64.9M | ||
| Q2 24 | $121.8M | $61.5M | ||
| Q1 24 | $111.1M | $59.5M |
| Q4 25 | $2.5B | $1.9B | ||
| Q3 25 | $2.6B | $1.9B | ||
| Q2 25 | $2.6B | $1.9B | ||
| Q1 25 | $2.7B | $1.9B | ||
| Q4 24 | $2.6B | $1.8B | ||
| Q3 24 | $2.7B | $1.8B | ||
| Q2 24 | $2.8B | $1.7B | ||
| Q1 24 | $2.9B | $1.7B |
| Q4 25 | $-626.4M | $442.0M | ||
| Q3 25 | $-548.7M | $519.2M | ||
| Q2 25 | $-485.5M | $601.9M | ||
| Q1 25 | $-446.1M | $680.7M | ||
| Q4 24 | $-419.2M | $678.6M | ||
| Q3 24 | $-288.4M | $672.2M | ||
| Q2 24 | $-225.9M | $711.3M | ||
| Q1 24 | $-276.8M | $799.7M |
| Q4 25 | $2.8B | $3.0B | ||
| Q3 25 | $3.0B | $3.2B | ||
| Q2 25 | $3.1B | $3.3B | ||
| Q1 25 | $3.1B | $3.4B | ||
| Q4 24 | $3.2B | $3.3B | ||
| Q3 24 | $3.3B | $3.3B | ||
| Q2 24 | $3.3B | $3.2B | ||
| Q1 24 | $3.5B | $3.3B |
| Q4 25 | — | 4.25× | ||
| Q3 25 | — | 3.62× | ||
| Q2 25 | — | 3.09× | ||
| Q1 25 | — | 2.73× | ||
| Q4 24 | — | 2.61× | ||
| Q3 24 | — | 2.64× | ||
| Q2 24 | — | 2.42× | ||
| Q1 24 | — | 2.15× |
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 | $47.0M |
| Free Cash FlowOCF − Capex | $-86.8M | $36.9M |
| FCF MarginFCF / Revenue | -33.5% | 7.9% |
| Capex IntensityCapex / Revenue | 27.5% | 2.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $-51.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | $47.0M | ||
| Q3 25 | $5.5M | $10.7M | ||
| Q2 25 | $16.3M | $-35.2M | ||
| Q1 25 | $-25.0M | $-29.3M | ||
| Q4 24 | $-23.6M | $-16.1M | ||
| Q3 24 | $795.0K | $-48.4M | ||
| Q2 24 | $8.0M | $-61.3M | ||
| Q1 24 | $-46.5M | $-25.4M |
| Q4 25 | $-86.8M | $36.9M | ||
| Q3 25 | $-226.0K | $481.0K | ||
| Q2 25 | $-3.6M | $-46.0M | ||
| Q1 25 | $-44.8M | $-42.4M | ||
| Q4 24 | $-131.6M | $-39.0M | ||
| Q3 24 | $-21.8M | $-63.5M | ||
| Q2 24 | $-22.9M | $-72.2M | ||
| Q1 24 | $-80.4M | $-33.1M |
| Q4 25 | -33.5% | 7.9% | ||
| Q3 25 | -0.1% | 0.1% | ||
| Q2 25 | -1.2% | -9.6% | ||
| Q1 25 | -16.2% | -9.4% | ||
| Q4 24 | -47.8% | -7.9% | ||
| Q3 24 | -7.9% | -13.9% | ||
| Q2 24 | -7.2% | -16.9% | ||
| Q1 24 | -26.5% | -8.1% |
| Q4 25 | 27.5% | 2.2% | ||
| Q3 25 | 2.1% | 2.2% | ||
| Q2 25 | 6.6% | 2.3% | ||
| Q1 25 | 7.2% | 2.9% | ||
| Q4 24 | 39.2% | 4.6% | ||
| Q3 24 | 8.2% | 3.3% | ||
| Q2 24 | 9.8% | 2.6% | ||
| Q1 24 | 11.2% | 1.9% |
| 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% |
CODI
| Other | $119.5M | 26% |
| A5.11Tactical | $113.9M | 24% |
| Sterno Products | $85.9M | 18% |
| Altor | $60.8M | 13% |
| The Honey Pot | $36.0M | 8% |
| Arnold | $25.4M | 5% |
| Velocity Outdoor | $18.7M | 4% |
| Lugano | $8.3M | 2% |
