vs
Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and Flywire Corp (FLYW). 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 $157.5M, roughly 1.6× Flywire Corp). Flywire Corp runs the higher net margin — 0.0% vs -26.8%, a 26.8% gap on every dollar of revenue. On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs -6.0%). Flywire Corp produced more free cash flow last quarter ($4.5M vs $-86.8M). Over the past eight quarters, Flywire Corp's revenue compounded faster (17.5% 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.
Flywire Corp is a global payment and receivables solutions provider serving core verticals including education, healthcare, travel, and B2B commerce. It offers secure cross-border payment processing, currency conversion, and workflow tools for organizations and payers worldwide.
AHT vs FLYW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $157.5M |
| Net Profit | $-69.3M | $33.0K |
| Gross Margin | — | — |
| Operating Margin | -2.6% | -0.6% |
| Net Margin | -26.8% | 0.0% |
| Revenue YoY | -6.0% | 34.0% |
| Net Profit YoY | 44.2% | 100.2% |
| EPS (diluted) | $-12.85 | $0.01 |
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 | $157.5M | ||
| Q3 25 | $266.1M | $200.1M | ||
| Q2 25 | $302.0M | $131.9M | ||
| Q1 25 | $277.4M | $133.5M | ||
| Q4 24 | $275.5M | $117.5M | ||
| Q3 24 | $276.6M | $156.8M | ||
| Q2 24 | $316.5M | $103.7M | ||
| Q1 24 | $303.9M | $114.1M |
| Q4 25 | $-69.3M | $33.0K | ||
| Q3 25 | $-60.1M | $29.6M | ||
| Q2 25 | $-30.4M | $-12.0M | ||
| Q1 25 | $-20.0M | $-4.2M | ||
| Q4 24 | $-124.2M | $-15.9M | ||
| Q3 24 | $-57.9M | $38.9M | ||
| Q2 24 | $50.3M | $-13.9M | ||
| Q1 24 | $71.6M | $-6.2M |
| Q4 25 | -2.6% | -0.6% | ||
| Q3 25 | 4.6% | 16.1% | ||
| Q2 25 | 16.3% | -6.8% | ||
| Q1 25 | 22.2% | -8.2% | ||
| Q4 24 | -17.8% | -4.9% | ||
| Q3 24 | 7.3% | 12.9% | ||
| Q2 24 | 42.8% | -15.2% | ||
| Q1 24 | 50.2% | -5.2% |
| Q4 25 | -26.8% | 0.0% | ||
| Q3 25 | -22.6% | 14.8% | ||
| Q2 25 | -10.1% | -9.1% | ||
| Q1 25 | -7.2% | -3.1% | ||
| Q4 24 | -45.1% | -13.5% | ||
| Q3 24 | -20.9% | 24.8% | ||
| Q2 24 | 15.9% | -13.4% | ||
| Q1 24 | 23.5% | -5.4% |
| Q4 25 | $-12.85 | $0.01 | ||
| Q3 25 | $-11.35 | $0.23 | ||
| Q2 25 | $-6.88 | $-0.10 | ||
| Q1 25 | $-4.91 | $-0.03 | ||
| Q4 24 | $-13.64 | $-0.12 | ||
| Q3 24 | $-12.39 | $0.30 | ||
| Q2 24 | $2.50 | $-0.11 | ||
| Q1 24 | $5.99 | $-0.05 |
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 | $355.0M |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $-626.4M | $835.2M |
| Total Assets | $2.8B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $355.0M | ||
| Q3 25 | $81.9M | $377.3M | ||
| Q2 25 | $100.0M | $274.2M | ||
| Q1 25 | $85.8M | $255.3M | ||
| Q4 24 | $112.9M | $611.1M | ||
| Q3 24 | $119.7M | $681.1M | ||
| Q2 24 | $121.8M | $571.0M | ||
| Q1 24 | $111.1M | $619.0M |
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.6B | $15.0M | ||
| Q2 25 | $2.6B | $60.0M | ||
| Q1 25 | $2.7B | $60.0M | ||
| Q4 24 | $2.6B | $0 | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $2.9B | — |
| Q4 25 | $-626.4M | $835.2M | ||
| Q3 25 | $-548.7M | $829.1M | ||
| Q2 25 | $-485.5M | $792.4M | ||
| Q1 25 | $-446.1M | $784.3M | ||
| Q4 24 | $-419.2M | $814.8M | ||
| Q3 24 | $-288.4M | $843.2M | ||
| Q2 24 | $-225.9M | $802.6M | ||
| Q1 24 | $-276.8M | $-797.0M |
| Q4 25 | $2.8B | $1.3B | ||
| Q3 25 | $3.0B | $1.3B | ||
| Q2 25 | $3.1B | $1.1B | ||
| Q1 25 | $3.1B | $1.1B | ||
| Q4 24 | $3.2B | $1.1B | ||
| Q3 24 | $3.3B | $1.2B | ||
| Q2 24 | $3.3B | $998.7M | ||
| Q1 24 | $3.5B | $998.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | 0.00× | ||
| 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 | $4.9M |
| Free Cash FlowOCF − Capex | $-86.8M | $4.5M |
| FCF MarginFCF / Revenue | -33.5% | 2.9% |
| Capex IntensityCapex / Revenue | 27.5% | 0.2% |
| Cash ConversionOCF / Net Profit | — | 148.06× |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $98.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | $4.9M | ||
| Q3 25 | $5.5M | $150.1M | ||
| Q2 25 | $16.3M | $24.1M | ||
| Q1 25 | $-25.0M | $-78.9M | ||
| Q4 24 | $-23.6M | $-28.6M | ||
| Q3 24 | $795.0K | $184.6M | ||
| Q2 24 | $8.0M | $-19.3M | ||
| Q1 24 | $-46.5M | $-38.1M |
| Q4 25 | $-86.8M | $4.5M | ||
| Q3 25 | $-226.0K | $149.9M | ||
| Q2 25 | $-3.6M | $23.5M | ||
| Q1 25 | $-44.8M | $-79.1M | ||
| Q4 24 | $-131.6M | $-28.7M | ||
| Q3 24 | $-21.8M | $184.4M | ||
| Q2 24 | $-22.9M | $-19.7M | ||
| Q1 24 | $-80.4M | $-38.3M |
| Q4 25 | -33.5% | 2.9% | ||
| Q3 25 | -0.1% | 74.9% | ||
| Q2 25 | -1.2% | 17.8% | ||
| Q1 25 | -16.2% | -59.3% | ||
| Q4 24 | -47.8% | -24.4% | ||
| Q3 24 | -7.9% | 117.6% | ||
| Q2 24 | -7.2% | -19.0% | ||
| Q1 24 | -26.5% | -33.6% |
| Q4 25 | 27.5% | 0.2% | ||
| Q3 25 | 2.1% | 0.1% | ||
| Q2 25 | 6.6% | 0.4% | ||
| Q1 25 | 7.2% | 0.1% | ||
| Q4 24 | 39.2% | 0.1% | ||
| Q3 24 | 8.2% | 0.1% | ||
| Q2 24 | 9.8% | 0.3% | ||
| Q1 24 | 11.2% | 0.2% |
| Q4 25 | — | 148.06× | ||
| Q3 25 | — | 5.07× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 4.75× | ||
| 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% |
FLYW
| Transactions | $126.4M | 80% |
| Platform And Other Revenues | $31.1M | 20% |
