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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and UNIVERSAL DISPLAY CORP \PA\ (OLED). 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 $142.2M, roughly 1.8× UNIVERSAL DISPLAY CORP \PA\). UNIVERSAL DISPLAY CORP \PA\ runs the higher net margin — 25.2% vs -26.8%, a 52.0% gap on every dollar of revenue. On growth, ASHFORD HOSPITALITY TRUST INC posted the faster year-over-year revenue change (-6.0% vs -14.5%). Over the past eight quarters, UNIVERSAL DISPLAY CORP \PA\'s revenue compounded faster (-5.3% 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.
Universal Display Corporation is a developer and manufacturer of organic light emitting diode (OLED) technologies and materials, and it is a provider of services to the display and lighting industries.
AHT vs OLED — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $142.2M |
| Net Profit | $-69.3M | $35.9M |
| Gross Margin | — | 74.6% |
| Operating Margin | -2.6% | 30.1% |
| Net Margin | -26.8% | 25.2% |
| Revenue YoY | -6.0% | -14.5% |
| Net Profit YoY | 44.2% | -44.3% |
| EPS (diluted) | $-12.85 | $0.76 |
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 | — | $142.2M | ||
| Q4 25 | $259.0M | $172.9M | ||
| Q3 25 | $266.1M | $139.6M | ||
| Q2 25 | $302.0M | $171.8M | ||
| Q1 25 | $277.4M | $166.3M | ||
| Q4 24 | $275.5M | $162.3M | ||
| Q3 24 | $276.6M | $161.6M | ||
| Q2 24 | $316.5M | $158.5M |
| Q1 26 | — | $35.9M | ||
| Q4 25 | $-69.3M | $66.3M | ||
| Q3 25 | $-60.1M | $44.0M | ||
| Q2 25 | $-30.4M | $67.3M | ||
| Q1 25 | $-20.0M | $64.4M | ||
| Q4 24 | $-124.2M | $46.0M | ||
| Q3 24 | $-57.9M | $66.9M | ||
| Q2 24 | $50.3M | $52.3M |
| Q1 26 | — | 74.6% | ||
| Q4 25 | — | 76.1% | ||
| Q3 25 | — | 74.6% | ||
| Q2 25 | — | 77.2% | ||
| Q1 25 | — | 77.1% | ||
| Q4 24 | — | 77.0% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 75.8% |
| Q1 26 | — | 30.1% | ||
| Q4 25 | -2.6% | 38.9% | ||
| Q3 25 | 4.6% | 30.9% | ||
| Q2 25 | 16.3% | 39.9% | ||
| Q1 25 | 22.2% | 41.9% | ||
| Q4 24 | -17.8% | 32.3% | ||
| Q3 24 | 7.3% | 41.5% | ||
| Q2 24 | 42.8% | 35.6% |
| Q1 26 | — | 25.2% | ||
| Q4 25 | -26.8% | 38.4% | ||
| Q3 25 | -22.6% | 31.5% | ||
| Q2 25 | -10.1% | 39.2% | ||
| Q1 25 | -7.2% | 38.8% | ||
| Q4 24 | -45.1% | 28.4% | ||
| Q3 24 | -20.9% | 41.4% | ||
| Q2 24 | 15.9% | 33.0% |
| Q1 26 | — | $0.76 | ||
| Q4 25 | $-12.85 | $1.40 | ||
| Q3 25 | $-11.35 | $0.92 | ||
| Q2 25 | $-6.88 | $1.41 | ||
| Q1 25 | $-4.91 | $1.35 | ||
| Q4 24 | $-13.64 | $0.96 | ||
| Q3 24 | $-12.39 | $1.40 | ||
| Q2 24 | $2.50 | $1.10 |
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 | $516.4M |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $-626.4M | — |
| Total Assets | $2.8B | $1.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $516.4M | ||
| Q4 25 | $66.1M | $602.4M | ||
| Q3 25 | $81.9M | $603.0M | ||
| Q2 25 | $100.0M | $525.2M | ||
| Q1 25 | $85.8M | $571.3M | ||
| Q4 24 | $112.9M | $492.7M | ||
| Q3 24 | $119.7M | $551.6M | ||
| Q2 24 | $121.8M | $530.5M |
| Q1 26 | — | — | ||
| 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 | — | — | ||
| Q4 25 | $-626.4M | $1.8B | ||
| Q3 25 | $-548.7M | $1.7B | ||
| Q2 25 | $-485.5M | $1.7B | ||
| Q1 25 | $-446.1M | $1.7B | ||
| Q4 24 | $-419.2M | $1.6B | ||
| Q3 24 | $-288.4M | $1.6B | ||
| Q2 24 | $-225.9M | $1.5B |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $2.8B | $2.0B | ||
| Q3 25 | $3.0B | $1.9B | ||
| Q2 25 | $3.1B | $1.9B | ||
| Q1 25 | $3.1B | $1.9B | ||
| Q4 24 | $3.2B | $1.8B | ||
| Q3 24 | $3.3B | $1.8B | ||
| Q2 24 | $3.3B | $1.8B |
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 | $108.9M |
| Free Cash FlowOCF − Capex | $-86.8M | — |
| FCF MarginFCF / Revenue | -33.5% | — |
| Capex IntensityCapex / Revenue | 27.5% | — |
| Cash ConversionOCF / Net Profit | — | 3.03× |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $108.9M | ||
| Q4 25 | $-15.7M | $31.1M | ||
| Q3 25 | $5.5M | $97.2M | ||
| Q2 25 | $16.3M | $51.9M | ||
| Q1 25 | $-25.0M | $30.6M | ||
| Q4 24 | $-23.6M | $34.7M | ||
| Q3 24 | $795.0K | $79.9M | ||
| Q2 24 | $8.0M | $67.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-86.8M | $15.1M | ||
| Q3 25 | $-226.0K | $84.3M | ||
| Q2 25 | $-3.6M | $37.5M | ||
| Q1 25 | $-44.8M | $17.5M | ||
| Q4 24 | $-131.6M | $22.0M | ||
| Q3 24 | $-21.8M | $66.2M | ||
| Q2 24 | $-22.9M | $57.9M |
| Q1 26 | — | — | ||
| Q4 25 | -33.5% | 8.7% | ||
| Q3 25 | -0.1% | 60.4% | ||
| Q2 25 | -1.2% | 21.8% | ||
| Q1 25 | -16.2% | 10.5% | ||
| Q4 24 | -47.8% | 13.6% | ||
| Q3 24 | -7.9% | 41.0% | ||
| Q2 24 | -7.2% | 36.5% |
| Q1 26 | — | — | ||
| Q4 25 | 27.5% | 9.3% | ||
| Q3 25 | 2.1% | 9.2% | ||
| Q2 25 | 6.6% | 8.4% | ||
| Q1 25 | 7.2% | 7.9% | ||
| Q4 24 | 39.2% | 7.8% | ||
| Q3 24 | 8.2% | 8.4% | ||
| Q2 24 | 9.8% | 5.8% |
| Q1 26 | — | 3.03× | ||
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | — | 0.77× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | — | 0.75× | ||
| Q3 24 | — | 1.19× | ||
| Q2 24 | 0.16× | 1.28× |
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% |
OLED
| Material sales | $83.7M | 59% |
| Royalty and license fees | $54.2M | 38% |
| Contract research services | $4.3M | 3% |
