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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and NWPX Infrastructure, Inc. (NWPX). 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 $138.3M, roughly 1.9× NWPX Infrastructure, Inc.). NWPX Infrastructure, Inc. runs the higher net margin — 7.6% vs -26.8%, a 34.4% gap on every dollar of revenue. On growth, NWPX Infrastructure, Inc. posted the faster year-over-year revenue change (19.1% vs -6.0%). Over the past eight quarters, NWPX Infrastructure, Inc.'s revenue compounded faster (3.3% 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 NWPX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $138.3M |
| Net Profit | $-69.3M | $10.5M |
| Gross Margin | — | 19.3% |
| Operating Margin | -2.6% | 9.2% |
| Net Margin | -26.8% | 7.6% |
| Revenue YoY | -6.0% | 19.1% |
| Net Profit YoY | 44.2% | 165.7% |
| EPS (diluted) | $-12.85 | $1.08 |
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.
| Q1 26 | — | $138.3M | ||
| Q4 25 | $259.0M | $125.6M | ||
| Q3 25 | $266.1M | $151.1M | ||
| Q2 25 | $302.0M | $133.2M | ||
| Q1 25 | $277.4M | $116.1M | ||
| Q4 24 | $275.5M | $119.6M | ||
| Q3 24 | $276.6M | $130.2M | ||
| Q2 24 | $316.5M | $129.5M |
| Q1 26 | — | $10.5M | ||
| Q4 25 | $-69.3M | $8.9M | ||
| Q3 25 | $-60.1M | $13.5M | ||
| Q2 25 | $-30.4M | $9.1M | ||
| Q1 25 | $-20.0M | $4.0M | ||
| Q4 24 | $-124.2M | $10.1M | ||
| Q3 24 | $-57.9M | $10.3M | ||
| Q2 24 | $50.3M | $8.6M |
| Q1 26 | — | 19.3% | ||
| Q4 25 | — | 21.3% | ||
| Q3 25 | — | 21.3% | ||
| Q2 25 | — | 19.0% | ||
| Q1 25 | — | 16.7% | ||
| Q4 24 | — | 18.8% | ||
| Q3 24 | — | 20.8% | ||
| Q2 24 | — | 19.9% |
| Q1 26 | — | 9.2% | ||
| Q4 25 | -2.6% | 10.4% | ||
| Q3 25 | 4.6% | 12.6% | ||
| Q2 25 | 16.3% | 9.9% | ||
| Q1 25 | 22.2% | 4.8% | ||
| Q4 24 | -17.8% | 8.8% | ||
| Q3 24 | 7.3% | 11.9% | ||
| Q2 24 | 42.8% | 10.5% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | -26.8% | 7.1% | ||
| Q3 25 | -22.6% | 8.9% | ||
| Q2 25 | -10.1% | 6.8% | ||
| Q1 25 | -7.2% | 3.4% | ||
| Q4 24 | -45.1% | 8.4% | ||
| Q3 24 | -20.9% | 7.9% | ||
| Q2 24 | 15.9% | 6.7% |
| Q1 26 | — | $1.08 | ||
| Q4 25 | $-12.85 | $0.88 | ||
| Q3 25 | $-11.35 | $1.38 | ||
| Q2 25 | $-6.88 | $0.91 | ||
| Q1 25 | $-4.91 | $0.39 | ||
| Q4 24 | $-13.64 | $1.00 | ||
| Q3 24 | $-12.39 | $1.02 | ||
| Q2 24 | $2.50 | $0.86 |
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 | $14.3M |
| Total DebtLower is stronger | $2.5B | $10.7M |
| Stockholders' EquityBook value | $-626.4M | $403.7M |
| Total Assets | $2.8B | $634.1M |
| Debt / EquityLower = less leverage | — | 0.03× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $14.3M | ||
| Q4 25 | $66.1M | $2.3M | ||
| Q3 25 | $81.9M | $2.7M | ||
| Q2 25 | $100.0M | $2.0M | ||
| Q1 25 | $85.8M | $5.3M | ||
| Q4 24 | $112.9M | $5.0M | ||
| Q3 24 | $119.7M | $5.7M | ||
| Q2 24 | $121.8M | $4.5M |
| Q1 26 | — | $10.7M | ||
| 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 26 | — | $403.7M | ||
| Q4 25 | $-626.4M | $394.8M | ||
| Q3 25 | $-548.7M | $386.4M | ||
| Q2 25 | $-485.5M | $379.5M | ||
| Q1 25 | $-446.1M | $378.5M | ||
| Q4 24 | $-419.2M | $374.0M | ||
| Q3 24 | $-288.4M | $362.4M | ||
| Q2 24 | $-225.9M | $351.2M |
| Q1 26 | — | $634.1M | ||
| Q4 25 | $2.8B | $579.6M | ||
| Q3 25 | $3.0B | $605.2M | ||
| Q2 25 | $3.1B | $592.6M | ||
| Q1 25 | $3.1B | $582.2M | ||
| Q4 24 | $3.2B | $589.7M | ||
| Q3 24 | $3.3B | $617.2M | ||
| Q2 24 | $3.3B | $631.7M |
| Q1 26 | — | 0.03× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | $29.3M |
| Free Cash FlowOCF − Capex | $-86.8M | — |
| FCF MarginFCF / Revenue | -33.5% | — |
| Capex IntensityCapex / Revenue | 27.5% | — |
| Cash ConversionOCF / Net Profit | — | 2.78× |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $29.3M | ||
| Q4 25 | $-15.7M | $36.0M | ||
| Q3 25 | $5.5M | $21.0M | ||
| Q2 25 | $16.3M | $5.4M | ||
| Q1 25 | $-25.0M | $4.8M | ||
| Q4 24 | $-23.6M | $36.1M | ||
| Q3 24 | $795.0K | $22.7M | ||
| Q2 24 | $8.0M | $22.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-86.8M | $30.8M | ||
| Q3 25 | $-226.0K | $13.2M | ||
| Q2 25 | $-3.6M | $1.9M | ||
| Q1 25 | $-44.8M | $1.2M | ||
| Q4 24 | $-131.6M | $31.9M | ||
| Q3 24 | $-21.8M | $16.8M | ||
| Q2 24 | $-22.9M | $16.2M |
| Q1 26 | — | — | ||
| Q4 25 | -33.5% | 24.5% | ||
| Q3 25 | -0.1% | 8.7% | ||
| Q2 25 | -1.2% | 1.4% | ||
| Q1 25 | -16.2% | 1.0% | ||
| Q4 24 | -47.8% | 26.7% | ||
| Q3 24 | -7.9% | 12.9% | ||
| Q2 24 | -7.2% | 12.5% |
| Q1 26 | — | — | ||
| Q4 25 | 27.5% | 4.1% | ||
| Q3 25 | 2.1% | 5.2% | ||
| Q2 25 | 6.6% | 2.6% | ||
| Q1 25 | 7.2% | 3.2% | ||
| Q4 24 | 39.2% | 3.5% | ||
| Q3 24 | 8.2% | 4.6% | ||
| Q2 24 | 9.8% | 4.7% |
| Q1 26 | — | 2.78× | ||
| Q4 25 | — | 4.06× | ||
| Q3 25 | — | 1.55× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | — | 1.22× | ||
| Q4 24 | — | 3.58× | ||
| Q3 24 | — | 2.22× | ||
| Q2 24 | 0.16× | 2.58× |
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% |
NWPX
| Water Transmission Systems | $93.5M | 68% |
| Precast Infrastructure and Engineered Systems | $44.8M | 32% |
