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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and Shoals Technologies Group, Inc. (SHLS). 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 $148.3M, roughly 1.7× Shoals Technologies Group, Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs -26.8%, a 32.2% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -6.0%). Shoals Technologies Group, Inc. produced more free cash flow last quarter ($-11.3M vs $-86.8M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% 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.
Shoals Technologies Group is a leading provider of electrical balance of systems solutions for renewable energy and e-mobility. It supplies connectivity components for solar projects, energy storage systems and EV charging infrastructure, serving clients across North America, Europe and Asia-Pacific.
AHT vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $148.3M |
| Net Profit | $-69.3M | $8.1M |
| Gross Margin | — | 31.6% |
| Operating Margin | -2.6% | 11.7% |
| Net Margin | -26.8% | 5.5% |
| Revenue YoY | -6.0% | 38.6% |
| Net Profit YoY | 44.2% | 3.9% |
| EPS (diluted) | $-12.85 | $0.05 |
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 | $148.3M | ||
| Q3 25 | $266.1M | $135.8M | ||
| Q2 25 | $302.0M | $110.8M | ||
| Q1 25 | $277.4M | $80.4M | ||
| Q4 24 | $275.5M | $107.0M | ||
| Q3 24 | $276.6M | $102.2M | ||
| Q2 24 | $316.5M | $99.2M | ||
| Q1 24 | $303.9M | $90.8M |
| Q4 25 | $-69.3M | $8.1M | ||
| Q3 25 | $-60.1M | $11.9M | ||
| Q2 25 | $-30.4M | $13.9M | ||
| Q1 25 | $-20.0M | $-282.0K | ||
| Q4 24 | $-124.2M | $7.8M | ||
| Q3 24 | $-57.9M | $-267.0K | ||
| Q2 24 | $50.3M | $11.8M | ||
| Q1 24 | $71.6M | $4.8M |
| Q4 25 | — | 31.6% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | — | 37.2% | ||
| Q1 25 | — | 35.0% | ||
| Q4 24 | — | 37.6% | ||
| Q3 24 | — | 24.8% | ||
| Q2 24 | — | 40.3% | ||
| Q1 24 | — | 40.2% |
| Q4 25 | -2.6% | 11.7% | ||
| Q3 25 | 4.6% | 13.7% | ||
| Q2 25 | 16.3% | 14.4% | ||
| Q1 25 | 22.2% | 5.4% | ||
| Q4 24 | -17.8% | 15.4% | ||
| Q3 24 | 7.3% | 4.4% | ||
| Q2 24 | 42.8% | 18.7% | ||
| Q1 24 | 50.2% | 12.8% |
| Q4 25 | -26.8% | 5.5% | ||
| Q3 25 | -22.6% | 8.7% | ||
| Q2 25 | -10.1% | 12.5% | ||
| Q1 25 | -7.2% | -0.4% | ||
| Q4 24 | -45.1% | 7.3% | ||
| Q3 24 | -20.9% | -0.3% | ||
| Q2 24 | 15.9% | 11.9% | ||
| Q1 24 | 23.5% | 5.3% |
| Q4 25 | $-12.85 | $0.05 | ||
| Q3 25 | $-11.35 | $0.07 | ||
| Q2 25 | $-6.88 | $0.08 | ||
| Q1 25 | $-4.91 | $0.00 | ||
| Q4 24 | $-13.64 | $0.04 | ||
| Q3 24 | $-12.39 | $0.00 | ||
| Q2 24 | $2.50 | $0.07 | ||
| Q1 24 | $5.99 | $0.03 |
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 | $7.3M |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $-626.4M | $600.0M |
| Total Assets | $2.8B | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $7.3M | ||
| Q3 25 | $81.9M | $8.6M | ||
| Q2 25 | $100.0M | $4.7M | ||
| Q1 25 | $85.8M | $35.6M | ||
| Q4 24 | $112.9M | $23.5M | ||
| Q3 24 | $119.7M | $11.1M | ||
| Q2 24 | $121.8M | $3.2M | ||
| Q1 24 | $111.1M | $15.2M |
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.7B | $141.8M | ||
| Q4 24 | $2.6B | $141.8M | ||
| Q3 24 | $2.7B | $141.8M | ||
| Q2 24 | $2.8B | $146.8M | ||
| Q1 24 | $2.9B | $168.8M |
| Q4 25 | $-626.4M | $600.0M | ||
| Q3 25 | $-548.7M | $589.6M | ||
| Q2 25 | $-485.5M | $575.4M | ||
| Q1 25 | $-446.1M | $558.9M | ||
| Q4 24 | $-419.2M | $556.8M | ||
| Q3 24 | $-288.4M | $545.2M | ||
| Q2 24 | $-225.9M | $544.6M | ||
| Q1 24 | $-276.8M | $554.0M |
| Q4 25 | $2.8B | $904.1M | ||
| Q3 25 | $3.0B | $851.8M | ||
| Q2 25 | $3.1B | $795.0M | ||
| Q1 25 | $3.1B | $788.4M | ||
| Q4 24 | $3.2B | $793.1M | ||
| Q3 24 | $3.3B | $801.3M | ||
| Q2 24 | $3.3B | $788.4M | ||
| Q1 24 | $3.5B | $825.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.27× | ||
| Q1 24 | — | 0.30× |
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 | $-4.1M |
| Free Cash FlowOCF − Capex | $-86.8M | $-11.3M |
| FCF MarginFCF / Revenue | -33.5% | -7.6% |
| Capex IntensityCapex / Revenue | 27.5% | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | $-4.1M | ||
| Q3 25 | $5.5M | $19.4M | ||
| Q2 25 | $16.3M | $-13.8M | ||
| Q1 25 | $-25.0M | $15.6M | ||
| Q4 24 | $-23.6M | $14.0M | ||
| Q3 24 | $795.0K | $15.7M | ||
| Q2 24 | $8.0M | $37.8M | ||
| Q1 24 | $-46.5M | $12.9M |
| Q4 25 | $-86.8M | $-11.3M | ||
| Q3 25 | $-226.0K | $9.0M | ||
| Q2 25 | $-3.6M | $-26.0M | ||
| Q1 25 | $-44.8M | $12.3M | ||
| Q4 24 | $-131.6M | $12.5M | ||
| Q3 24 | $-21.8M | $13.3M | ||
| Q2 24 | $-22.9M | $35.8M | ||
| Q1 24 | $-80.4M | $10.4M |
| Q4 25 | -33.5% | -7.6% | ||
| Q3 25 | -0.1% | 6.6% | ||
| Q2 25 | -1.2% | -23.5% | ||
| Q1 25 | -16.2% | 15.4% | ||
| Q4 24 | -47.8% | 11.6% | ||
| Q3 24 | -7.9% | 13.0% | ||
| Q2 24 | -7.2% | 36.1% | ||
| Q1 24 | -26.5% | 11.4% |
| Q4 25 | 27.5% | 4.8% | ||
| Q3 25 | 2.1% | 7.7% | ||
| Q2 25 | 6.6% | 11.0% | ||
| Q1 25 | 7.2% | 4.0% | ||
| Q4 24 | 39.2% | 1.4% | ||
| Q3 24 | 8.2% | 2.3% | ||
| Q2 24 | 9.8% | 2.0% | ||
| Q1 24 | 11.2% | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | — | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.16× | 3.21× | ||
| Q1 24 | -0.65× | 2.69× |
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% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
