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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and Dine Brands Global, Inc. (DIN). 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 $217.6M, roughly 1.2× Dine Brands Global, Inc.). Dine Brands Global, Inc. runs the higher net margin — -5.6% vs -26.8%, a 21.1% gap on every dollar of revenue. On growth, Dine Brands Global, Inc. posted the faster year-over-year revenue change (6.3% vs -6.0%). Dine Brands Global, Inc. produced more free cash flow last quarter ($-8.6M vs $-86.8M). Over the past eight quarters, Dine Brands Global, Inc.'s revenue compounded faster (2.7% 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.
Dine Brands Global Inc. is a publicly traded food and beverage company based in Pasadena, California. Founded in 1958 as IHOP, it operates franchised and corporate owned full-service restaurants including three restaurant concepts, Applebee's Neighborhood Grill & Bar, International House of Pancakes (IHOP), and Fuzzy's Taco Shop.
AHT vs DIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $217.6M |
| Net Profit | $-69.3M | $-12.2M |
| Gross Margin | — | 42.4% |
| Operating Margin | -2.6% | -7.6% |
| Net Margin | -26.8% | -5.6% |
| Revenue YoY | -6.0% | 6.3% |
| Net Profit YoY | 44.2% | -336.1% |
| EPS (diluted) | $-12.85 | $-0.79 |
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 | $217.6M | ||
| Q3 25 | $266.1M | $216.2M | ||
| Q2 25 | $302.0M | $230.8M | ||
| Q1 25 | $277.4M | $214.8M | ||
| Q4 24 | $275.5M | $204.8M | ||
| Q3 24 | $276.6M | $195.0M | ||
| Q2 24 | $316.5M | $206.3M | ||
| Q1 24 | $303.9M | $206.2M |
| Q4 25 | $-69.3M | $-12.2M | ||
| Q3 25 | $-60.1M | $7.3M | ||
| Q2 25 | $-30.4M | $13.8M | ||
| Q1 25 | $-20.0M | $8.2M | ||
| Q4 24 | $-124.2M | $5.2M | ||
| Q3 24 | $-57.9M | $19.1M | ||
| Q2 24 | $50.3M | $23.2M | ||
| Q1 24 | $71.6M | $17.5M |
| Q4 25 | — | 42.4% | ||
| Q3 25 | — | 39.1% | ||
| Q2 25 | — | 40.0% | ||
| Q1 25 | — | 42.0% | ||
| Q4 24 | — | 41.7% | ||
| Q3 24 | — | 47.8% | ||
| Q2 24 | — | 48.1% | ||
| Q1 24 | — | 47.2% |
| Q4 25 | -2.6% | -7.6% | ||
| Q3 25 | 4.6% | 4.7% | ||
| Q2 25 | 16.3% | 8.2% | ||
| Q1 25 | 22.2% | 6.0% | ||
| Q4 24 | -17.8% | 3.8% | ||
| Q3 24 | 7.3% | 13.6% | ||
| Q2 24 | 42.8% | 15.1% | ||
| Q1 24 | 50.2% | 11.7% |
| Q4 25 | -26.8% | -5.6% | ||
| Q3 25 | -22.6% | 3.4% | ||
| Q2 25 | -10.1% | 6.0% | ||
| Q1 25 | -7.2% | 3.8% | ||
| Q4 24 | -45.1% | 2.5% | ||
| Q3 24 | -20.9% | 9.8% | ||
| Q2 24 | 15.9% | 11.2% | ||
| Q1 24 | 23.5% | 8.5% |
| Q4 25 | $-12.85 | $-0.79 | ||
| Q3 25 | $-11.35 | $0.48 | ||
| Q2 25 | $-6.88 | $0.89 | ||
| Q1 25 | $-4.91 | $0.53 | ||
| Q4 24 | $-13.64 | $0.35 | ||
| Q3 24 | $-12.39 | $1.24 | ||
| Q2 24 | $2.50 | $1.50 | ||
| Q1 24 | $5.99 | $1.13 |
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 | $128.2M |
| Total DebtLower is stronger | $2.5B | $1.2B |
| Stockholders' EquityBook value | $-626.4M | $-273.9M |
| Total Assets | $2.8B | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $128.2M | ||
| Q3 25 | $81.9M | $167.9M | ||
| Q2 25 | $100.0M | $194.2M | ||
| Q1 25 | $85.8M | $186.5M | ||
| Q4 24 | $112.9M | $186.7M | ||
| Q3 24 | $119.7M | $169.6M | ||
| Q2 24 | $121.8M | $153.5M | ||
| Q1 24 | $111.1M | $145.0M |
| Q4 25 | $2.5B | $1.2B | ||
| Q3 25 | $2.6B | $1.2B | ||
| Q2 25 | $2.6B | $1.2B | ||
| Q1 25 | $2.7B | $1.2B | ||
| Q4 24 | $2.6B | $1.2B | ||
| Q3 24 | $2.7B | $1.2B | ||
| Q2 24 | $2.8B | $1.2B | ||
| Q1 24 | $2.9B | $1.2B |
| Q4 25 | $-626.4M | $-273.9M | ||
| Q3 25 | $-548.7M | $-231.9M | ||
| Q2 25 | $-485.5M | $-212.5M | ||
| Q1 25 | $-446.1M | $-215.7M | ||
| Q4 24 | $-419.2M | $-216.0M | ||
| Q3 24 | $-288.4M | $-216.7M | ||
| Q2 24 | $-225.9M | $-231.7M | ||
| Q1 24 | $-276.8M | $-244.8M |
| Q4 25 | $2.8B | $1.7B | ||
| Q3 25 | $3.0B | $1.8B | ||
| 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 | $1.7B | ||
| Q1 24 | $3.5B | $1.7B |
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 | $5.7M |
| Free Cash FlowOCF − Capex | $-86.8M | $-8.6M |
| FCF MarginFCF / Revenue | -33.5% | -3.9% |
| Capex IntensityCapex / Revenue | 27.5% | 6.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $53.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | $5.7M | ||
| Q3 25 | $5.5M | $30.2M | ||
| Q2 25 | $16.3M | $37.0M | ||
| Q1 25 | $-25.0M | $16.1M | ||
| Q4 24 | $-23.6M | $30.5M | ||
| Q3 24 | $795.0K | $25.5M | ||
| Q2 24 | $8.0M | $21.6M | ||
| Q1 24 | $-46.5M | $30.6M |
| Q4 25 | $-86.8M | $-8.6M | ||
| Q3 25 | $-226.0K | $18.1M | ||
| Q2 25 | $-3.6M | $31.0M | ||
| Q1 25 | $-44.8M | $12.8M | ||
| Q4 24 | $-131.6M | $26.7M | ||
| Q3 24 | $-21.8M | $22.0M | ||
| Q2 24 | $-22.9M | $18.2M | ||
| Q1 24 | $-80.4M | $27.2M |
| Q4 25 | -33.5% | -3.9% | ||
| Q3 25 | -0.1% | 8.4% | ||
| Q2 25 | -1.2% | 13.4% | ||
| Q1 25 | -16.2% | 6.0% | ||
| Q4 24 | -47.8% | 13.0% | ||
| Q3 24 | -7.9% | 11.3% | ||
| Q2 24 | -7.2% | 8.8% | ||
| Q1 24 | -26.5% | 13.2% |
| Q4 25 | 27.5% | 6.6% | ||
| Q3 25 | 2.1% | 5.6% | ||
| Q2 25 | 6.6% | 2.6% | ||
| Q1 25 | 7.2% | 1.5% | ||
| Q4 24 | 39.2% | 1.9% | ||
| Q3 24 | 8.2% | 1.8% | ||
| Q2 24 | 9.8% | 1.7% | ||
| Q1 24 | 11.2% | 1.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | 4.12× | ||
| Q2 25 | — | 2.68× | ||
| Q1 25 | — | 1.97× | ||
| Q4 24 | — | 5.88× | ||
| Q3 24 | — | 1.34× | ||
| Q2 24 | 0.16× | 0.93× | ||
| Q1 24 | -0.65× | 1.75× |
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% |
DIN
| Franchisor | $163.2M | 75% |
| Food And Beverage | $27.3M | 13% |
| Proprietary Product Sales And Other | $17.0M | 8% |
| Other | $8.1M | 4% |
| Franchise And Development Fees | $2.0M | 1% |
