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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and TREX CO INC (TREX). 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 $161.1M, roughly 1.6× TREX CO INC). TREX CO INC runs the higher net margin — 1.4% vs -26.8%, a 28.2% gap on every dollar of revenue. On growth, TREX CO INC posted the faster year-over-year revenue change (-3.9% vs -6.0%). TREX CO INC produced more free cash flow last quarter ($22.1M vs $-86.8M). Over the past eight quarters, ASHFORD HOSPITALITY TRUST INC's revenue compounded faster (-7.7% CAGR vs -34.3%).
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.
Trex Company, Inc. is a manufacturer of wood-alternative composite decking, residential railing, and other outdoor items made from recycled materials. Its headquarters is in Winchester, Virginia.
AHT vs TREX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $161.1M |
| Net Profit | $-69.3M | $2.3M |
| Gross Margin | — | 30.2% |
| Operating Margin | -2.6% | 2.2% |
| Net Margin | -26.8% | 1.4% |
| Revenue YoY | -6.0% | -3.9% |
| Net Profit YoY | 44.2% | -76.4% |
| EPS (diluted) | $-12.85 | $0.03 |
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 | $161.1M | ||
| Q3 25 | $266.1M | $285.3M | ||
| Q2 25 | $302.0M | $387.8M | ||
| Q1 25 | $277.4M | $340.0M | ||
| Q4 24 | $275.5M | $167.6M | ||
| Q3 24 | $276.6M | $233.7M | ||
| Q2 24 | $316.5M | $376.5M | ||
| Q1 24 | $303.9M | $373.6M |
| Q4 25 | $-69.3M | $2.3M | ||
| Q3 25 | $-60.1M | $51.8M | ||
| Q2 25 | $-30.4M | $75.9M | ||
| Q1 25 | $-20.0M | $60.4M | ||
| Q4 24 | $-124.2M | $9.8M | ||
| Q3 24 | $-57.9M | $40.6M | ||
| Q2 24 | $50.3M | $87.0M | ||
| Q1 24 | $71.6M | $89.1M |
| Q4 25 | — | 30.2% | ||
| Q3 25 | — | 40.5% | ||
| Q2 25 | — | 40.8% | ||
| Q1 25 | — | 40.5% | ||
| Q4 24 | — | 32.7% | ||
| Q3 24 | — | 39.9% | ||
| Q2 24 | — | 44.7% | ||
| Q1 24 | — | 45.4% |
| Q4 25 | -2.6% | 2.2% | ||
| Q3 25 | 4.6% | 24.7% | ||
| Q2 25 | 16.3% | 26.4% | ||
| Q1 25 | 22.2% | 24.0% | ||
| Q4 24 | -17.8% | 9.2% | ||
| Q3 24 | 7.3% | 23.2% | ||
| Q2 24 | 42.8% | 31.1% | ||
| Q1 24 | 50.2% | 31.9% |
| Q4 25 | -26.8% | 1.4% | ||
| Q3 25 | -22.6% | 18.1% | ||
| Q2 25 | -10.1% | 19.6% | ||
| Q1 25 | -7.2% | 17.8% | ||
| Q4 24 | -45.1% | 5.8% | ||
| Q3 24 | -20.9% | 17.4% | ||
| Q2 24 | 15.9% | 23.1% | ||
| Q1 24 | 23.5% | 23.8% |
| Q4 25 | $-12.85 | $0.03 | ||
| Q3 25 | $-11.35 | $0.48 | ||
| Q2 25 | $-6.88 | $0.71 | ||
| Q1 25 | $-4.91 | $0.56 | ||
| Q4 24 | $-13.64 | $0.10 | ||
| Q3 24 | $-12.39 | $0.37 | ||
| Q2 24 | $2.50 | $0.80 | ||
| Q1 24 | $5.99 | $0.82 |
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 | $3.8M |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $-626.4M | $1.0B |
| Total Assets | $2.8B | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $3.8M | ||
| Q3 25 | $81.9M | $11.4M | ||
| Q2 25 | $100.0M | $5.5M | ||
| Q1 25 | $85.8M | $5.0M | ||
| Q4 24 | $112.9M | $1.3M | ||
| Q3 24 | $119.7M | $12.8M | ||
| Q2 24 | $121.8M | $1.2M | ||
| Q1 24 | $111.1M | $3.1M |
| 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 | $1.0B | ||
| Q3 25 | $-548.7M | $1.0B | ||
| Q2 25 | $-485.5M | $989.3M | ||
| Q1 25 | $-446.1M | $910.1M | ||
| Q4 24 | $-419.2M | $850.1M | ||
| Q3 24 | $-288.4M | $887.9M | ||
| Q2 24 | $-225.9M | $894.9M | ||
| Q1 24 | $-276.8M | $804.1M |
| Q4 25 | $2.8B | $1.5B | ||
| Q3 25 | $3.0B | $1.5B | ||
| Q2 25 | $3.1B | $1.5B | ||
| Q1 25 | $3.1B | $1.6B | ||
| Q4 24 | $3.2B | $1.3B | ||
| Q3 24 | $3.3B | $1.3B | ||
| Q2 24 | $3.3B | $1.3B | ||
| Q1 24 | $3.5B | $1.3B |
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 | $65.5M |
| Free Cash FlowOCF − Capex | $-86.8M | $22.1M |
| FCF MarginFCF / Revenue | -33.5% | 13.7% |
| Capex IntensityCapex / Revenue | 27.5% | 26.9% |
| Cash ConversionOCF / Net Profit | — | 28.45× |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $134.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | $65.5M | ||
| Q3 25 | $5.5M | $196.9M | ||
| Q2 25 | $16.3M | $249.8M | ||
| Q1 25 | $-25.0M | $-154.0M | ||
| Q4 24 | $-23.6M | $-8.5M | ||
| Q3 24 | $795.0K | $132.8M | ||
| Q2 24 | $8.0M | $193.7M | ||
| Q1 24 | $-46.5M | $-174.0M |
| Q4 25 | $-86.8M | $22.1M | ||
| Q3 25 | $-226.0K | $142.9M | ||
| Q2 25 | $-3.6M | $203.0M | ||
| Q1 25 | $-44.8M | $-233.5M | ||
| Q4 24 | $-131.6M | $-89.3M | ||
| Q3 24 | $-21.8M | $54.5M | ||
| Q2 24 | $-22.9M | $158.2M | ||
| Q1 24 | $-80.4M | $-211.8M |
| Q4 25 | -33.5% | 13.7% | ||
| Q3 25 | -0.1% | 50.1% | ||
| Q2 25 | -1.2% | 52.3% | ||
| Q1 25 | -16.2% | -68.7% | ||
| Q4 24 | -47.8% | -53.3% | ||
| Q3 24 | -7.9% | 23.3% | ||
| Q2 24 | -7.2% | 42.0% | ||
| Q1 24 | -26.5% | -56.7% |
| Q4 25 | 27.5% | 26.9% | ||
| Q3 25 | 2.1% | 18.9% | ||
| Q2 25 | 6.6% | 12.1% | ||
| Q1 25 | 7.2% | 23.4% | ||
| Q4 24 | 39.2% | 48.2% | ||
| Q3 24 | 8.2% | 33.5% | ||
| Q2 24 | 9.8% | 9.4% | ||
| Q1 24 | 11.2% | 10.1% |
| Q4 25 | — | 28.45× | ||
| Q3 25 | — | 3.80× | ||
| Q2 25 | — | 3.29× | ||
| Q1 25 | — | -2.55× | ||
| Q4 24 | — | -0.87× | ||
| Q3 24 | — | 3.27× | ||
| Q2 24 | 0.16× | 2.23× | ||
| Q1 24 | -0.65× | -1.95× |
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% |
TREX
Segment breakdown not available.
