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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and PEGASYSTEMS INC (PEGA). Click either name above to swap in a different company.
PEGASYSTEMS INC is the larger business by last-quarter revenue ($430.0M vs $259.0M, roughly 1.7× ASHFORD HOSPITALITY TRUST INC). PEGASYSTEMS INC runs the higher net margin — 7.6% vs -26.8%, a 34.4% gap on every dollar of revenue. On growth, ASHFORD HOSPITALITY TRUST INC posted the faster year-over-year revenue change (-6.0% vs -9.6%). PEGASYSTEMS INC produced more free cash flow last quarter ($206.5M vs $-86.8M). Over the past eight quarters, PEGASYSTEMS INC's revenue compounded faster (10.7% 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.
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
AHT vs PEGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $430.0M |
| Net Profit | $-69.3M | $32.8M |
| Gross Margin | — | 75.2% |
| Operating Margin | -2.6% | 8.6% |
| Net Margin | -26.8% | 7.6% |
| Revenue YoY | -6.0% | -9.6% |
| Net Profit YoY | 44.2% | — |
| EPS (diluted) | $-12.85 | $0.18 |
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 | — | $430.0M | ||
| Q4 25 | $259.0M | $504.3M | ||
| Q3 25 | $266.1M | $381.4M | ||
| Q2 25 | $302.0M | $384.5M | ||
| Q1 25 | $277.4M | $475.6M | ||
| Q4 24 | $275.5M | $490.8M | ||
| Q3 24 | $276.6M | $325.1M | ||
| Q2 24 | $316.5M | $351.2M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | $-69.3M | $234.6M | ||
| Q3 25 | $-60.1M | $43.4M | ||
| Q2 25 | $-30.4M | $30.1M | ||
| Q1 25 | $-20.0M | $85.4M | ||
| Q4 24 | $-124.2M | $119.1M | ||
| Q3 24 | $-57.9M | $-14.4M | ||
| Q2 24 | $50.3M | $6.6M |
| Q1 26 | — | 75.2% | ||
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 72.2% | ||
| Q2 25 | — | 71.5% | ||
| Q1 25 | — | 78.5% | ||
| Q4 24 | — | 79.1% | ||
| Q3 24 | — | 70.2% | ||
| Q2 24 | — | 72.4% |
| Q1 26 | — | 8.6% | ||
| Q4 25 | -2.6% | 20.7% | ||
| Q3 25 | 4.6% | 3.8% | ||
| Q2 25 | 16.3% | 4.5% | ||
| Q1 25 | 22.2% | 26.7% | ||
| Q4 24 | -17.8% | 29.1% | ||
| Q3 24 | 7.3% | -3.6% | ||
| Q2 24 | 42.8% | 3.7% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | -26.8% | 46.5% | ||
| Q3 25 | -22.6% | 11.4% | ||
| Q2 25 | -10.1% | 7.8% | ||
| Q1 25 | -7.2% | 18.0% | ||
| Q4 24 | -45.1% | 24.3% | ||
| Q3 24 | -20.9% | -4.4% | ||
| Q2 24 | 15.9% | 1.9% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | $-12.85 | $0.81 | ||
| Q3 25 | $-11.35 | $0.24 | ||
| Q2 25 | $-6.88 | $0.17 | ||
| Q1 25 | $-4.91 | $0.91 | ||
| Q4 24 | $-13.64 | $1.35 | ||
| Q3 24 | $-12.39 | $-0.17 | ||
| Q2 24 | $2.50 | $0.07 |
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 | $270.0M |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $-626.4M | $705.9M |
| Total Assets | $2.8B | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $270.0M | ||
| Q4 25 | $66.1M | $425.8M | ||
| Q3 25 | $81.9M | $351.4M | ||
| Q2 25 | $100.0M | $411.6M | ||
| Q1 25 | $85.8M | $371.7M | ||
| Q4 24 | $112.9M | $740.0M | ||
| Q3 24 | $119.7M | $703.0M | ||
| Q2 24 | $121.8M | $665.1M |
| 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 | — | $705.9M | ||
| Q4 25 | $-626.4M | $787.4M | ||
| Q3 25 | $-548.7M | $596.8M | ||
| Q2 25 | $-485.5M | $624.5M | ||
| Q1 25 | $-446.1M | $611.3M | ||
| Q4 24 | $-419.2M | $585.5M | ||
| Q3 24 | $-288.4M | $473.0M | ||
| Q2 24 | $-225.9M | $435.4M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $2.8B | $1.6B | ||
| Q3 25 | $3.0B | $1.3B | ||
| Q2 25 | $3.1B | $1.3B | ||
| Q1 25 | $3.1B | $1.3B | ||
| Q4 24 | $3.2B | $1.8B | ||
| Q3 24 | $3.3B | $1.6B | ||
| Q2 24 | $3.3B | $1.5B |
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 | — |
| Free Cash FlowOCF − Capex | $-86.8M | $206.5M |
| FCF MarginFCF / Revenue | -33.5% | 48.0% |
| Capex IntensityCapex / Revenue | 27.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-15.7M | $158.4M | ||
| Q3 25 | $5.5M | $56.3M | ||
| Q2 25 | $16.3M | $86.3M | ||
| Q1 25 | $-25.0M | $204.2M | ||
| Q4 24 | $-23.6M | $95.2M | ||
| Q3 24 | $795.0K | $30.5M | ||
| Q2 24 | $8.0M | $40.1M |
| Q1 26 | — | $206.5M | ||
| Q4 25 | $-86.8M | $152.4M | ||
| Q3 25 | $-226.0K | $51.8M | ||
| Q2 25 | $-3.6M | $84.1M | ||
| Q1 25 | $-44.8M | $202.3M | ||
| Q4 24 | $-131.6M | $92.4M | ||
| Q3 24 | $-21.8M | $27.4M | ||
| Q2 24 | $-22.9M | $38.8M |
| Q1 26 | — | 48.0% | ||
| Q4 25 | -33.5% | 30.2% | ||
| Q3 25 | -0.1% | 13.6% | ||
| Q2 25 | -1.2% | 21.9% | ||
| Q1 25 | -16.2% | 42.5% | ||
| Q4 24 | -47.8% | 18.8% | ||
| Q3 24 | -7.9% | 8.4% | ||
| Q2 24 | -7.2% | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | 27.5% | 1.2% | ||
| Q3 25 | 2.1% | 1.2% | ||
| Q2 25 | 6.6% | 0.6% | ||
| Q1 25 | 7.2% | 0.4% | ||
| Q4 24 | 39.2% | 0.6% | ||
| Q3 24 | 8.2% | 0.9% | ||
| Q2 24 | 9.8% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.68× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | — | 2.87× | ||
| Q1 25 | — | 2.39× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.16× | 6.06× |
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% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
