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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and CSW INDUSTRIALS, INC. (CSW). 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 $233.0M, roughly 1.1× CSW INDUSTRIALS, INC.). CSW INDUSTRIALS, INC. runs the higher net margin — 4.4% vs -26.8%, a 31.2% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs -6.0%). CSW INDUSTRIALS, INC. produced more free cash flow last quarter ($22.7M vs $-86.8M). Over the past eight quarters, CSW INDUSTRIALS, INC.'s revenue compounded faster (5.1% 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.
AHT vs CSW — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $233.0M |
| Net Profit | $-69.3M | $10.3M |
| Gross Margin | — | 39.7% |
| Operating Margin | -2.6% | 7.4% |
| Net Margin | -26.8% | 4.4% |
| Revenue YoY | -6.0% | 20.3% |
| Net Profit YoY | 44.2% | -61.9% |
| EPS (diluted) | $-12.85 | $0.62 |
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 | $233.0M | ||
| Q3 25 | $266.1M | $277.0M | ||
| Q2 25 | $302.0M | $263.6M | ||
| Q1 25 | $277.4M | $230.5M | ||
| Q4 24 | $275.5M | $193.6M | ||
| Q3 24 | $276.6M | $227.9M | ||
| Q2 24 | $316.5M | $226.2M | ||
| Q1 24 | $303.9M | $210.9M |
| Q4 25 | $-69.3M | $10.3M | ||
| Q3 25 | $-60.1M | $40.7M | ||
| Q2 25 | $-30.4M | $40.9M | ||
| Q1 25 | $-20.0M | $35.1M | ||
| Q4 24 | $-124.2M | $26.9M | ||
| Q3 24 | $-57.9M | $36.1M | ||
| Q2 24 | $50.3M | $38.6M | ||
| Q1 24 | $71.6M | $31.8M |
| Q4 25 | — | 39.7% | ||
| Q3 25 | — | 43.0% | ||
| Q2 25 | — | 43.8% | ||
| Q1 25 | — | 44.2% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 45.6% | ||
| Q2 24 | — | 47.5% | ||
| Q1 24 | — | 44.4% |
| Q4 25 | -2.6% | 7.4% | ||
| Q3 25 | 4.6% | 20.5% | ||
| Q2 25 | 16.3% | 20.8% | ||
| Q1 25 | 22.2% | 19.5% | ||
| Q4 24 | -17.8% | 15.3% | ||
| Q3 24 | 7.3% | 22.6% | ||
| Q2 24 | 42.8% | 24.3% | ||
| Q1 24 | 50.2% | 21.0% |
| Q4 25 | -26.8% | 4.4% | ||
| Q3 25 | -22.6% | 14.7% | ||
| Q2 25 | -10.1% | 15.5% | ||
| Q1 25 | -7.2% | 15.2% | ||
| Q4 24 | -45.1% | 13.9% | ||
| Q3 24 | -20.9% | 15.8% | ||
| Q2 24 | 15.9% | 17.1% | ||
| Q1 24 | 23.5% | 15.1% |
| Q4 25 | $-12.85 | $0.62 | ||
| Q3 25 | $-11.35 | $2.41 | ||
| Q2 25 | $-6.88 | $2.43 | ||
| Q1 25 | $-4.91 | $2.05 | ||
| Q4 24 | $-13.64 | $1.60 | ||
| Q3 24 | $-12.39 | $2.26 | ||
| Q2 24 | $2.50 | $2.47 | ||
| Q1 24 | $5.99 | $2.03 |
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 | $40.2M |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $-626.4M | $1.1B |
| Total Assets | $2.8B | $2.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $40.2M | ||
| Q3 25 | $81.9M | $31.5M | ||
| Q2 25 | $100.0M | $38.0M | ||
| Q1 25 | $85.8M | $225.8M | ||
| Q4 24 | $112.9M | $213.8M | ||
| Q3 24 | $119.7M | $273.2M | ||
| Q2 24 | $121.8M | $18.9M | ||
| Q1 24 | $111.1M | $22.2M |
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.7B | $800.1M | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $2.9B | $166.0M |
| Q4 25 | $-626.4M | $1.1B | ||
| Q3 25 | $-548.7M | $1.1B | ||
| Q2 25 | $-485.5M | $1.1B | ||
| Q1 25 | $-446.1M | $1.1B | ||
| Q4 24 | $-419.2M | $1.0B | ||
| Q3 24 | $-288.4M | $1.0B | ||
| Q2 24 | $-225.9M | $650.2M | ||
| Q1 24 | $-276.8M | $615.7M |
| Q4 25 | $2.8B | $2.3B | ||
| Q3 25 | $3.0B | $1.5B | ||
| Q2 25 | $3.1B | $1.5B | ||
| Q1 25 | $3.1B | $1.4B | ||
| Q4 24 | $3.2B | $1.4B | ||
| Q3 24 | $3.3B | $1.4B | ||
| Q2 24 | $3.3B | $1.1B | ||
| Q1 24 | $3.5B | $1.0B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.27× |
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 | $28.9M |
| Free Cash FlowOCF − Capex | $-86.8M | $22.7M |
| FCF MarginFCF / Revenue | -33.5% | 9.8% |
| Capex IntensityCapex / Revenue | 27.5% | 2.6% |
| Cash ConversionOCF / Net Profit | — | 2.81× |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $162.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | $28.9M | ||
| Q3 25 | $5.5M | $61.8M | ||
| Q2 25 | $16.3M | $60.6M | ||
| Q1 25 | $-25.0M | $27.3M | ||
| Q4 24 | $-23.6M | $11.6M | ||
| Q3 24 | $795.0K | $66.8M | ||
| Q2 24 | $8.0M | $62.7M | ||
| Q1 24 | $-46.5M | $22.4M |
| Q4 25 | $-86.8M | $22.7M | ||
| Q3 25 | $-226.0K | $58.7M | ||
| Q2 25 | $-3.6M | $57.7M | ||
| Q1 25 | $-44.8M | $22.8M | ||
| Q4 24 | $-131.6M | $8.5M | ||
| Q3 24 | $-21.8M | $61.3M | ||
| Q2 24 | $-22.9M | $59.6M | ||
| Q1 24 | $-80.4M | $17.5M |
| Q4 25 | -33.5% | 9.8% | ||
| Q3 25 | -0.1% | 21.2% | ||
| Q2 25 | -1.2% | 21.9% | ||
| Q1 25 | -16.2% | 9.9% | ||
| Q4 24 | -47.8% | 4.4% | ||
| Q3 24 | -7.9% | 26.9% | ||
| Q2 24 | -7.2% | 26.3% | ||
| Q1 24 | -26.5% | 8.3% |
| Q4 25 | 27.5% | 2.6% | ||
| Q3 25 | 2.1% | 1.1% | ||
| Q2 25 | 6.6% | 1.1% | ||
| Q1 25 | 7.2% | 2.0% | ||
| Q4 24 | 39.2% | 1.6% | ||
| Q3 24 | 8.2% | 2.4% | ||
| Q2 24 | 9.8% | 1.4% | ||
| Q1 24 | 11.2% | 2.3% |
| Q4 25 | — | 2.81× | ||
| Q3 25 | — | 1.52× | ||
| Q2 25 | — | 1.48× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 1.85× | ||
| Q2 24 | 0.16× | 1.62× | ||
| Q1 24 | -0.65× | 0.71× |
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% |
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
