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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and Mayville Engineering Company, Inc. (MEC). 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 $134.3M, roughly 1.9× Mayville Engineering Company, Inc.). Mayville Engineering Company, Inc. runs the higher net margin — -3.2% vs -26.8%, a 23.5% gap on every dollar of revenue. On growth, Mayville Engineering Company, Inc. posted the faster year-over-year revenue change (10.7% vs -6.0%). Mayville Engineering Company, Inc. produced more free cash flow last quarter ($10.2M vs $-86.8M). Over the past eight quarters, ASHFORD HOSPITALITY TRUST INC's revenue compounded faster (-7.7% CAGR vs -8.8%).
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.
Mayville Engineering Company, Inc. is a U.S.-headquartered leading manufacturer of metal components, fabricated assemblies, and custom engineered solutions. It serves OEM clients across agriculture, construction, transportation, defense, and power sports markets, offering end-to-end services from prototyping to high-volume production for North America.
AHT vs MEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $134.3M |
| Net Profit | $-69.3M | $-4.4M |
| Gross Margin | — | 6.8% |
| Operating Margin | -2.6% | -4.1% |
| Net Margin | -26.8% | -3.2% |
| Revenue YoY | -6.0% | 10.7% |
| Net Profit YoY | 44.2% | -127.3% |
| EPS (diluted) | $-12.85 | $-0.22 |
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 | $134.3M | ||
| Q3 25 | $266.1M | $144.3M | ||
| Q2 25 | $302.0M | $132.3M | ||
| Q1 25 | $277.4M | $135.6M | ||
| Q4 24 | $275.5M | $121.3M | ||
| Q3 24 | $276.6M | $135.4M | ||
| Q2 24 | $316.5M | $163.6M | ||
| Q1 24 | $303.9M | $161.3M |
| Q4 25 | $-69.3M | $-4.4M | ||
| Q3 25 | $-60.1M | $-2.7M | ||
| Q2 25 | $-30.4M | $-1.1M | ||
| Q1 25 | $-20.0M | $20.0K | ||
| Q4 24 | $-124.2M | $16.0M | ||
| Q3 24 | $-57.9M | $3.0M | ||
| Q2 24 | $50.3M | $3.8M | ||
| Q1 24 | $71.6M | $3.2M |
| Q4 25 | — | 6.8% | ||
| Q3 25 | — | 11.0% | ||
| Q2 25 | — | 10.3% | ||
| Q1 25 | — | 11.3% | ||
| Q4 24 | — | 8.9% | ||
| Q3 24 | — | 12.6% | ||
| Q2 24 | — | 13.6% | ||
| Q1 24 | — | 13.0% |
| Q4 25 | -2.6% | -4.1% | ||
| Q3 25 | 4.6% | 0.0% | ||
| Q2 25 | 16.3% | 0.1% | ||
| Q1 25 | 22.2% | 1.2% | ||
| Q4 24 | -17.8% | 19.0% | ||
| Q3 24 | 7.3% | 4.2% | ||
| Q2 24 | 42.8% | 5.0% | ||
| Q1 24 | 50.2% | 4.7% |
| Q4 25 | -26.8% | -3.2% | ||
| Q3 25 | -22.6% | -1.9% | ||
| Q2 25 | -10.1% | -0.8% | ||
| Q1 25 | -7.2% | 0.0% | ||
| Q4 24 | -45.1% | 13.2% | ||
| Q3 24 | -20.9% | 2.2% | ||
| Q2 24 | 15.9% | 2.3% | ||
| Q1 24 | 23.5% | 2.0% |
| Q4 25 | $-12.85 | $-0.22 | ||
| Q3 25 | $-11.35 | $-0.13 | ||
| Q2 25 | $-6.88 | $-0.05 | ||
| Q1 25 | $-4.91 | $0.00 | ||
| Q4 24 | $-13.64 | $0.76 | ||
| Q3 24 | $-12.39 | $0.14 | ||
| Q2 24 | $2.50 | $0.18 | ||
| Q1 24 | $5.99 | $0.16 |
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 | $1.5M |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $-626.4M | $240.7M |
| Total Assets | $2.8B | $563.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $1.5M | ||
| Q3 25 | $81.9M | $1.2M | ||
| Q2 25 | $100.0M | $206.0K | ||
| Q1 25 | $85.8M | $183.0K | ||
| Q4 24 | $112.9M | $206.0K | ||
| Q3 24 | $119.7M | $178.0K | ||
| Q2 24 | $121.8M | $314.0K | ||
| Q1 24 | $111.1M | $314.0K |
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $2.9B | — |
| Q4 25 | $-626.4M | $240.7M | ||
| Q3 25 | $-548.7M | $244.8M | ||
| Q2 25 | $-485.5M | $246.8M | ||
| Q1 25 | $-446.1M | $250.0M | ||
| Q4 24 | $-419.2M | $251.8M | ||
| Q3 24 | $-288.4M | $238.4M | ||
| Q2 24 | $-225.9M | $238.1M | ||
| Q1 24 | $-276.8M | $234.0M |
| Q4 25 | $2.8B | $563.6M | ||
| Q3 25 | $3.0B | $585.6M | ||
| Q2 25 | $3.1B | $433.7M | ||
| Q1 25 | $3.1B | $447.7M | ||
| Q4 24 | $3.2B | $445.6M | ||
| Q3 24 | $3.3B | $466.0M | ||
| Q2 24 | $3.3B | $488.2M | ||
| Q1 24 | $3.5B | $499.9M |
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 | $13.4M |
| Free Cash FlowOCF − Capex | $-86.8M | $10.2M |
| FCF MarginFCF / Revenue | -33.5% | 7.6% |
| Capex IntensityCapex / Revenue | 27.5% | 2.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | $13.4M | ||
| Q3 25 | $5.5M | $1.9M | ||
| Q2 25 | $16.3M | $15.0M | ||
| Q1 25 | $-25.0M | $8.3M | ||
| Q4 24 | $-23.6M | $38.0M | ||
| Q3 24 | $795.0K | $17.9M | ||
| Q2 24 | $8.0M | $23.3M | ||
| Q1 24 | $-46.5M | $10.6M |
| Q4 25 | $-86.8M | $10.2M | ||
| Q3 25 | $-226.0K | $-1.1M | ||
| Q2 25 | $-3.6M | $12.5M | ||
| Q1 25 | $-44.8M | $5.4M | ||
| Q4 24 | $-131.6M | $35.6M | ||
| Q3 24 | $-21.8M | $15.1M | ||
| Q2 24 | $-22.9M | $19.2M | ||
| Q1 24 | $-80.4M | $7.8M |
| Q4 25 | -33.5% | 7.6% | ||
| Q3 25 | -0.1% | -0.8% | ||
| Q2 25 | -1.2% | 9.5% | ||
| Q1 25 | -16.2% | 4.0% | ||
| Q4 24 | -47.8% | 29.4% | ||
| Q3 24 | -7.9% | 11.1% | ||
| Q2 24 | -7.2% | 11.7% | ||
| Q1 24 | -26.5% | 4.9% |
| Q4 25 | 27.5% | 2.4% | ||
| Q3 25 | 2.1% | 2.1% | ||
| Q2 25 | 6.6% | 1.8% | ||
| Q1 25 | 7.2% | 2.2% | ||
| Q4 24 | 39.2% | 1.9% | ||
| Q3 24 | 8.2% | 2.1% | ||
| Q2 24 | 9.8% | 2.5% | ||
| Q1 24 | 11.2% | 1.7% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 416.65× | ||
| Q4 24 | — | 2.38× | ||
| Q3 24 | — | 6.03× | ||
| Q2 24 | 0.16× | 6.15× | ||
| Q1 24 | -0.65× | 3.28× |
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% |
MEC
| Fabrication | $72.2M | 54% |
| Construction And Access | $19.2M | 14% |
| Tubes | $16.2M | 12% |
| Other Market | $11.9M | 9% |
| Agriculture | $7.7M | 6% |
| Military | $6.7M | 5% |
| Outdoor Sports | $1.7M | 1% |
