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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and MATRIX SERVICE CO (MTRX). 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 $210.5M, roughly 1.2× MATRIX SERVICE CO). MATRIX SERVICE CO runs the higher net margin — -0.4% vs -26.8%, a 26.3% gap on every dollar of revenue. On growth, MATRIX SERVICE CO posted the faster year-over-year revenue change (12.5% vs -6.0%). MATRIX SERVICE CO produced more free cash flow last quarter ($6.3M vs $-86.8M). Over the past eight quarters, MATRIX SERVICE CO's revenue compounded faster (12.6% 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.
Matrix Telecom, Inc., operating as Matrix Business Technologies, Trinsic, Powered by Matrix, Excel Telecommunications and various other niche brands is a United States telecommunications firm that provides voice and data services to consumers and small and medium businesses as well as multi-location distributed enterprise markets. The firm also provides wholesale voice services to the telecommunications, wireless and cable industries.
AHT vs MTRX — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $210.5M |
| Net Profit | $-69.3M | $-894.0K |
| Gross Margin | — | 6.2% |
| Operating Margin | -2.6% | -1.0% |
| Net Margin | -26.8% | -0.4% |
| Revenue YoY | -6.0% | 12.5% |
| Net Profit YoY | 44.2% | 83.8% |
| EPS (diluted) | $-12.85 | $-0.03 |
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 | $210.5M | ||
| Q3 25 | $266.1M | $211.9M | ||
| Q2 25 | $302.0M | $216.4M | ||
| Q1 25 | $277.4M | $200.2M | ||
| Q4 24 | $275.5M | $187.2M | ||
| Q3 24 | $276.6M | $165.6M | ||
| Q2 24 | $316.5M | $189.5M | ||
| Q1 24 | $303.9M | $166.0M |
| Q4 25 | $-69.3M | $-894.0K | ||
| Q3 25 | $-60.1M | $-3.7M | ||
| Q2 25 | $-30.4M | $-11.3M | ||
| Q1 25 | $-20.0M | $-3.4M | ||
| Q4 24 | $-124.2M | $-5.5M | ||
| Q3 24 | $-57.9M | $-9.2M | ||
| Q2 24 | $50.3M | $-4.4M | ||
| Q1 24 | $71.6M | $-14.6M |
| Q4 25 | — | 6.2% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | — | 3.8% | ||
| Q1 25 | — | 6.4% | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | — | 4.7% | ||
| Q2 24 | — | 6.6% | ||
| Q1 24 | — | 3.4% |
| Q4 25 | -2.6% | -1.0% | ||
| Q3 25 | 4.6% | -2.6% | ||
| Q2 25 | 16.3% | -6.0% | ||
| Q1 25 | 22.2% | -2.5% | ||
| Q4 24 | -17.8% | -3.4% | ||
| Q3 24 | 7.3% | -6.5% | ||
| Q2 24 | 42.8% | -2.8% | ||
| Q1 24 | 50.2% | -8.7% |
| Q4 25 | -26.8% | -0.4% | ||
| Q3 25 | -22.6% | -1.7% | ||
| Q2 25 | -10.1% | -5.2% | ||
| Q1 25 | -7.2% | -1.7% | ||
| Q4 24 | -45.1% | -3.0% | ||
| Q3 24 | -20.9% | -5.6% | ||
| Q2 24 | 15.9% | -2.3% | ||
| Q1 24 | 23.5% | -8.8% |
| Q4 25 | $-12.85 | $-0.03 | ||
| Q3 25 | $-11.35 | $-0.13 | ||
| Q2 25 | $-6.88 | $-0.41 | ||
| Q1 25 | $-4.91 | $-0.12 | ||
| Q4 24 | $-13.64 | $-0.20 | ||
| Q3 24 | $-12.39 | $-0.33 | ||
| Q2 24 | $2.50 | $-0.16 | ||
| Q1 24 | $5.99 | $-0.53 |
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 | $199.0M |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $-626.4M | $137.6M |
| Total Assets | $2.8B | $650.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $199.0M | ||
| Q3 25 | $81.9M | $192.3M | ||
| Q2 25 | $100.0M | $224.6M | ||
| Q1 25 | $85.8M | $185.5M | ||
| Q4 24 | $112.9M | $156.8M | ||
| Q3 24 | $119.7M | $124.6M | ||
| Q2 24 | $121.8M | $115.6M | ||
| Q1 24 | $111.1M | $69.7M |
| 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 | $137.6M | ||
| Q3 25 | $-548.7M | $136.3M | ||
| Q2 25 | $-485.5M | $142.7M | ||
| Q1 25 | $-446.1M | $150.7M | ||
| Q4 24 | $-419.2M | $151.9M | ||
| Q3 24 | $-288.4M | $156.5M | ||
| Q2 24 | $-225.9M | $164.2M | ||
| Q1 24 | $-276.8M | $165.8M |
| Q4 25 | $2.8B | $650.2M | ||
| Q3 25 | $3.0B | $598.2M | ||
| Q2 25 | $3.1B | $600.3M | ||
| Q1 25 | $3.1B | $613.7M | ||
| Q4 24 | $3.2B | $513.8M | ||
| Q3 24 | $3.3B | $470.2M | ||
| Q2 24 | $3.3B | $451.4M | ||
| Q1 24 | $3.5B | $440.0M |
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 | $7.5M |
| Free Cash FlowOCF − Capex | $-86.8M | $6.3M |
| FCF MarginFCF / Revenue | -33.5% | 3.0% |
| Capex IntensityCapex / Revenue | 27.5% | 0.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $45.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | $7.5M | ||
| Q3 25 | $5.5M | $-25.9M | ||
| Q2 25 | $16.3M | $40.7M | ||
| Q1 25 | $-25.0M | $31.2M | ||
| Q4 24 | $-23.6M | $33.6M | ||
| Q3 24 | $795.0K | $11.9M | ||
| Q2 24 | $8.0M | $47.0M | ||
| Q1 24 | $-46.5M | $24.8M |
| Q4 25 | $-86.8M | $6.3M | ||
| Q3 25 | $-226.0K | $-27.9M | ||
| Q2 25 | $-3.6M | $38.4M | ||
| Q1 25 | $-44.8M | $28.7M | ||
| Q4 24 | $-131.6M | $32.7M | ||
| Q3 24 | $-21.8M | $10.0M | ||
| Q2 24 | $-22.9M | $45.7M | ||
| Q1 24 | $-80.4M | $20.0M |
| Q4 25 | -33.5% | 3.0% | ||
| Q3 25 | -0.1% | -13.2% | ||
| Q2 25 | -1.2% | 17.8% | ||
| Q1 25 | -16.2% | 14.3% | ||
| Q4 24 | -47.8% | 17.5% | ||
| Q3 24 | -7.9% | 6.0% | ||
| Q2 24 | -7.2% | 24.1% | ||
| Q1 24 | -26.5% | 12.1% |
| Q4 25 | 27.5% | 0.6% | ||
| Q3 25 | 2.1% | 0.9% | ||
| Q2 25 | 6.6% | 1.0% | ||
| Q1 25 | 7.2% | 1.3% | ||
| Q4 24 | 39.2% | 0.5% | ||
| Q3 24 | 8.2% | 1.2% | ||
| Q2 24 | 9.8% | 0.7% | ||
| Q1 24 | 11.2% | 2.9% |
| 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% |
MTRX
| Storage And Terminal Solutions | $99.9M | 47% |
| Utility And Power Infrastructure | $75.4M | 36% |
| Process And Industrial Facilities | $35.3M | 17% |
