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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and PHOTRONICS INC (PLAB). 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 $210.4M, roughly 1.2× PHOTRONICS INC). PHOTRONICS INC runs the higher net margin — 10.9% vs -26.8%, a 37.6% gap on every dollar of revenue. On growth, PHOTRONICS INC posted the faster year-over-year revenue change (-5.5% vs -6.0%). PHOTRONICS INC produced more free cash flow last quarter ($25.2M vs $-86.8M). Over the past eight quarters, PHOTRONICS INC's revenue compounded faster (-3.8% 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.
Photronics, Inc. is an American semiconductor photomask manufacturer. It was the third largest photomask supplier globally as of 2009. Photronics is a member of the eBeam Initiative.
AHT vs PLAB — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $210.4M |
| Net Profit | $-69.3M | $22.9M |
| Gross Margin | — | 33.7% |
| Operating Margin | -2.6% | 22.9% |
| Net Margin | -26.8% | 10.9% |
| Revenue YoY | -6.0% | -5.5% |
| Net Profit YoY | 44.2% | -32.4% |
| EPS (diluted) | $-12.85 | $0.39 |
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 | $210.4M | ||
| Q2 25 | $302.0M | $211.0M | ||
| Q1 25 | $277.4M | $212.1M | ||
| Q4 24 | $275.5M | $222.6M | ||
| Q3 24 | $276.6M | $211.0M | ||
| Q2 24 | $316.5M | $217.0M | ||
| Q1 24 | $303.9M | $216.3M |
| Q4 25 | $-69.3M | — | ||
| Q3 25 | $-60.1M | $22.9M | ||
| Q2 25 | $-30.4M | $8.9M | ||
| Q1 25 | $-20.0M | $42.9M | ||
| Q4 24 | $-124.2M | $33.9M | ||
| Q3 24 | $-57.9M | $34.4M | ||
| Q2 24 | $50.3M | $36.3M | ||
| Q1 24 | $71.6M | $26.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | 33.7% | ||
| Q2 25 | — | 36.9% | ||
| Q1 25 | — | 35.6% | ||
| Q4 24 | — | 37.0% | ||
| Q3 24 | — | 35.6% | ||
| Q2 24 | — | 36.5% | ||
| Q1 24 | — | 36.6% |
| Q4 25 | -2.6% | — | ||
| Q3 25 | 4.6% | 22.9% | ||
| Q2 25 | 16.3% | 26.4% | ||
| Q1 25 | 22.2% | 24.6% | ||
| Q4 24 | -17.8% | 25.1% | ||
| Q3 24 | 7.3% | 24.7% | ||
| Q2 24 | 42.8% | 25.8% | ||
| Q1 24 | 50.2% | 26.6% |
| Q4 25 | -26.8% | — | ||
| Q3 25 | -22.6% | 10.9% | ||
| Q2 25 | -10.1% | 4.2% | ||
| Q1 25 | -7.2% | 20.2% | ||
| Q4 24 | -45.1% | 15.2% | ||
| Q3 24 | -20.9% | 16.3% | ||
| Q2 24 | 15.9% | 16.7% | ||
| Q1 24 | 23.5% | 12.1% |
| Q4 25 | $-12.85 | — | ||
| Q3 25 | $-11.35 | $0.39 | ||
| Q2 25 | $-6.88 | $0.15 | ||
| Q1 25 | $-4.91 | $0.68 | ||
| Q4 24 | $-13.64 | $0.54 | ||
| Q3 24 | $-12.39 | $0.55 | ||
| Q2 24 | $2.50 | $0.58 | ||
| Q1 24 | $5.99 | $0.42 |
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 | $575.8M |
| Total DebtLower is stronger | $2.5B | $16.0K |
| Stockholders' EquityBook value | $-626.4M | $1.1B |
| Total Assets | $2.8B | $1.8B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | — | ||
| Q3 25 | $81.9M | $575.8M | ||
| Q2 25 | $100.0M | $558.4M | ||
| Q1 25 | $85.8M | $642.2M | ||
| Q4 24 | $112.9M | $640.7M | ||
| Q3 24 | $119.7M | $606.4M | ||
| Q2 24 | $121.8M | $559.9M | ||
| Q1 24 | $111.1M | $521.5M |
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.6B | $16.0K | ||
| Q2 25 | $2.6B | $19.0K | ||
| Q1 25 | $2.7B | $21.0K | ||
| Q4 24 | $2.6B | $25.0K | ||
| Q3 24 | $2.7B | $28.0K | ||
| Q2 24 | $2.8B | $2.5M | ||
| Q1 24 | $2.9B | $2.7M |
| Q4 25 | $-626.4M | — | ||
| Q3 25 | $-548.7M | $1.1B | ||
| Q2 25 | $-485.5M | $1.1B | ||
| Q1 25 | $-446.1M | $1.1B | ||
| Q4 24 | $-419.2M | $1.1B | ||
| Q3 24 | $-288.4M | $1.1B | ||
| Q2 24 | $-225.9M | $1.0B | ||
| Q1 24 | $-276.8M | $1.0B |
| Q4 25 | $2.8B | — | ||
| Q3 25 | $3.0B | $1.8B | ||
| Q2 25 | $3.1B | $1.7B | ||
| Q1 25 | $3.1B | $1.7B | ||
| Q4 24 | $3.2B | $1.7B | ||
| Q3 24 | $3.3B | $1.6B | ||
| Q2 24 | $3.3B | $1.6B | ||
| Q1 24 | $3.5B | $1.6B |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $50.1M |
| Free Cash FlowOCF − Capex | $-86.8M | $25.2M |
| FCF MarginFCF / Revenue | -33.5% | 12.0% |
| Capex IntensityCapex / Revenue | 27.5% | 11.8% |
| Cash ConversionOCF / Net Profit | — | 2.19× |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $64.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | — | ||
| Q3 25 | $5.5M | $50.1M | ||
| Q2 25 | $16.3M | $31.5M | ||
| Q1 25 | $-25.0M | $78.5M | ||
| Q4 24 | $-23.6M | $68.4M | ||
| Q3 24 | $795.0K | $75.1M | ||
| Q2 24 | $8.0M | $76.5M | ||
| Q1 24 | $-46.5M | $41.5M |
| Q4 25 | $-86.8M | — | ||
| Q3 25 | $-226.0K | $25.2M | ||
| Q2 25 | $-3.6M | $-29.1M | ||
| Q1 25 | $-44.8M | $43.3M | ||
| Q4 24 | $-131.6M | $25.2M | ||
| Q3 24 | $-21.8M | $50.7M | ||
| Q2 24 | $-22.9M | $56.5M | ||
| Q1 24 | $-80.4M | $-1.8M |
| Q4 25 | -33.5% | — | ||
| Q3 25 | -0.1% | 12.0% | ||
| Q2 25 | -1.2% | -13.8% | ||
| Q1 25 | -16.2% | 20.4% | ||
| Q4 24 | -47.8% | 11.3% | ||
| Q3 24 | -7.9% | 24.0% | ||
| Q2 24 | -7.2% | 26.0% | ||
| Q1 24 | -26.5% | -0.8% |
| Q4 25 | 27.5% | — | ||
| Q3 25 | 2.1% | 11.8% | ||
| Q2 25 | 6.6% | 28.7% | ||
| Q1 25 | 7.2% | 16.6% | ||
| Q4 24 | 39.2% | 19.4% | ||
| Q3 24 | 8.2% | 11.6% | ||
| Q2 24 | 9.8% | 9.2% | ||
| Q1 24 | 11.2% | 20.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.19× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | — | 1.83× | ||
| Q4 24 | — | 2.02× | ||
| Q3 24 | — | 2.18× | ||
| Q2 24 | 0.16× | 2.11× | ||
| Q1 24 | -0.65× | 1.59× |
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% |
PLAB
| High End Integrated Circuits | $53.6M | 25% |
| High End Flat Panel Displays | $53.5M | 25% |
| KR | $43.7M | 21% |
| Other | $42.1M | 20% |
| Mainstream Flat Panel Displays | $9.1M | 4% |
| Transferred At Point In Time | $8.4M | 4% |
