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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and ONTO INNOVATION INC. (ONTO). 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 $218.2M, roughly 1.2× ONTO INNOVATION INC.). ONTO INNOVATION INC. runs the higher net margin — 12.9% vs -26.8%, a 39.7% gap on every dollar of revenue. On growth, ASHFORD HOSPITALITY TRUST INC posted the faster year-over-year revenue change (-6.0% vs -13.5%). ONTO INNOVATION INC. produced more free cash flow last quarter ($82.0M vs $-86.8M). Over the past eight quarters, ONTO INNOVATION INC.'s revenue compounded faster (2.6% 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.
Onto Innovation Inc. is an American semiconductor company formed in 2019 from the merger of Rudolph Technologies, Inc. and Nanometrics Incorporated. It is a provider of process and process control equipment and software for microelectronic manufacturing industries.
AHT vs ONTO — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $218.2M |
| Net Profit | $-69.3M | $28.2M |
| Gross Margin | — | 50.7% |
| Operating Margin | -2.6% | 10.9% |
| Net Margin | -26.8% | 12.9% |
| Revenue YoY | -6.0% | -13.5% |
| Net Profit YoY | 44.2% | -46.8% |
| EPS (diluted) | $-12.85 | $0.57 |
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 | — | ||
| Q3 25 | $266.1M | $218.2M | ||
| Q2 25 | $302.0M | $253.6M | ||
| Q1 25 | $277.4M | $266.6M | ||
| Q4 24 | $275.5M | $263.9M | ||
| Q3 24 | $276.6M | $252.2M | ||
| Q2 24 | $316.5M | $242.3M | ||
| Q1 24 | $303.9M | $228.8M |
| Q4 25 | $-69.3M | — | ||
| Q3 25 | $-60.1M | $28.2M | ||
| Q2 25 | $-30.4M | $33.9M | ||
| Q1 25 | $-20.0M | $64.1M | ||
| Q4 24 | $-124.2M | $48.8M | ||
| Q3 24 | $-57.9M | $53.1M | ||
| Q2 24 | $50.3M | $52.9M | ||
| Q1 24 | $71.6M | $46.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | 50.7% | ||
| Q2 25 | — | 48.2% | ||
| Q1 25 | — | 53.7% | ||
| Q4 24 | — | 50.2% | ||
| Q3 24 | — | 54.1% | ||
| Q2 24 | — | 52.9% | ||
| Q1 24 | — | 51.7% |
| Q4 25 | -2.6% | — | ||
| Q3 25 | 4.6% | 10.9% | ||
| Q2 25 | 16.3% | 12.7% | ||
| Q1 25 | 22.2% | 23.7% | ||
| Q4 24 | -17.8% | 16.1% | ||
| Q3 24 | 7.3% | 21.0% | ||
| Q2 24 | 42.8% | 20.2% | ||
| Q1 24 | 50.2% | 18.7% |
| Q4 25 | -26.8% | — | ||
| Q3 25 | -22.6% | 12.9% | ||
| Q2 25 | -10.1% | 13.4% | ||
| Q1 25 | -7.2% | 24.0% | ||
| Q4 24 | -45.1% | 18.5% | ||
| Q3 24 | -20.9% | 21.0% | ||
| Q2 24 | 15.9% | 21.9% | ||
| Q1 24 | 23.5% | 20.5% |
| Q4 25 | $-12.85 | — | ||
| Q3 25 | $-11.35 | $0.57 | ||
| Q2 25 | $-6.88 | $0.69 | ||
| Q1 25 | $-4.91 | $1.30 | ||
| Q4 24 | $-13.64 | $0.98 | ||
| Q3 24 | $-12.39 | $1.07 | ||
| Q2 24 | $2.50 | $1.07 | ||
| Q1 24 | $5.99 | $0.94 |
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 | $603.1M |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $-626.4M | $2.0B |
| Total Assets | $2.8B | $2.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | — | ||
| Q3 25 | $81.9M | $603.1M | ||
| Q2 25 | $100.0M | $217.5M | ||
| Q1 25 | $85.8M | $203.7M | ||
| Q4 24 | $112.9M | $212.9M | ||
| Q3 24 | $119.7M | $188.7M | ||
| Q2 24 | $121.8M | $172.6M | ||
| Q1 24 | $111.1M | $190.9M |
| 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 | — | ||
| Q3 25 | $-548.7M | $2.0B | ||
| Q2 25 | $-485.5M | $2.0B | ||
| Q1 25 | $-446.1M | $1.9B | ||
| Q4 24 | $-419.2M | $1.9B | ||
| Q3 24 | $-288.4M | $1.9B | ||
| Q2 24 | $-225.9M | $1.8B | ||
| Q1 24 | $-276.8M | $1.8B |
| Q4 25 | $2.8B | — | ||
| Q3 25 | $3.0B | $2.2B | ||
| Q2 25 | $3.1B | $2.1B | ||
| Q1 25 | $3.1B | $2.1B | ||
| Q4 24 | $3.2B | $2.1B | ||
| Q3 24 | $3.3B | $2.1B | ||
| Q2 24 | $3.3B | $2.0B | ||
| Q1 24 | $3.5B | $2.0B |
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 | $83.4M |
| Free Cash FlowOCF − Capex | $-86.8M | $82.0M |
| FCF MarginFCF / Revenue | -33.5% | 37.6% |
| Capex IntensityCapex / Revenue | 27.5% | 0.6% |
| Cash ConversionOCF / Net Profit | — | 2.95× |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $261.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | — | ||
| Q3 25 | $5.5M | $83.4M | ||
| Q2 25 | $16.3M | $57.9M | ||
| Q1 25 | $-25.0M | $92.0M | ||
| Q4 24 | $-23.6M | $56.0M | ||
| Q3 24 | $795.0K | $67.2M | ||
| Q2 24 | $8.0M | $65.3M | ||
| Q1 24 | $-46.5M | $57.1M |
| Q4 25 | $-86.8M | — | ||
| Q3 25 | $-226.0K | $82.0M | ||
| Q2 25 | $-3.6M | $44.2M | ||
| Q1 25 | $-44.8M | $83.7M | ||
| Q4 24 | $-131.6M | $51.4M | ||
| Q3 24 | $-21.8M | $59.2M | ||
| Q2 24 | $-22.9M | $53.0M | ||
| Q1 24 | $-80.4M | $50.2M |
| Q4 25 | -33.5% | — | ||
| Q3 25 | -0.1% | 37.6% | ||
| Q2 25 | -1.2% | 17.4% | ||
| Q1 25 | -16.2% | 31.4% | ||
| Q4 24 | -47.8% | 19.5% | ||
| Q3 24 | -7.9% | 23.5% | ||
| Q2 24 | -7.2% | 21.9% | ||
| Q1 24 | -26.5% | 21.9% |
| Q4 25 | 27.5% | — | ||
| Q3 25 | 2.1% | 0.6% | ||
| Q2 25 | 6.6% | 5.4% | ||
| Q1 25 | 7.2% | 3.1% | ||
| Q4 24 | 39.2% | 1.8% | ||
| Q3 24 | 8.2% | 3.2% | ||
| Q2 24 | 9.8% | 5.1% | ||
| Q1 24 | 11.2% | 3.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | — | 1.44× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | — | 1.27× | ||
| Q2 24 | 0.16× | 1.23× | ||
| Q1 24 | -0.65× | 1.22× |
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% |
ONTO
| Systems And Software Revenue | $173.8M | 80% |
| Parts Revenue | $23.9M | 11% |
| Service Revenue | $20.5M | 9% |
