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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and Wingstop Inc. (WING). 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 $183.7M, roughly 1.4× Wingstop Inc.). Wingstop Inc. runs the higher net margin — 16.3% vs -26.8%, a 43.0% gap on every dollar of revenue. On growth, Wingstop Inc. posted the faster year-over-year revenue change (7.4% vs -6.0%). Over the past eight quarters, Wingstop Inc.'s revenue compounded faster (8.6% 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.
Wingstop Inc. is an American international fast food chain that primarily sells buffalo wings. Wingstop locations are decorated with a 1930s and 1940s pre-jet aviation theme.
AHT vs WING — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $183.7M |
| Net Profit | $-69.3M | $29.9M |
| Gross Margin | — | 86.5% |
| Operating Margin | -2.6% | 27.4% |
| Net Margin | -26.8% | 16.3% |
| Revenue YoY | -6.0% | 7.4% |
| Net Profit YoY | 44.2% | -67.6% |
| EPS (diluted) | $-12.85 | $1.08 |
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 | — | $183.7M | ||
| Q4 25 | $259.0M | $175.7M | ||
| Q3 25 | $266.1M | $175.7M | ||
| Q2 25 | $302.0M | $174.3M | ||
| Q1 25 | $277.4M | $171.1M | ||
| Q4 24 | $275.5M | $161.8M | ||
| Q3 24 | $276.6M | $162.5M | ||
| Q2 24 | $316.5M | $155.7M |
| Q1 26 | — | $29.9M | ||
| Q4 25 | $-69.3M | $26.8M | ||
| Q3 25 | $-60.1M | $28.5M | ||
| Q2 25 | $-30.4M | $26.8M | ||
| Q1 25 | $-20.0M | $92.3M | ||
| Q4 24 | $-124.2M | $26.8M | ||
| Q3 24 | $-57.9M | $25.7M | ||
| Q2 24 | $50.3M | $27.5M |
| Q1 26 | — | 86.5% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 85.6% | ||
| Q3 24 | — | 85.0% | ||
| Q2 24 | — | 85.4% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | -2.6% | 26.7% | ||
| Q3 25 | 4.6% | 27.9% | ||
| Q2 25 | 16.3% | 25.9% | ||
| Q1 25 | 22.2% | 22.4% | ||
| Q4 24 | -17.8% | 25.9% | ||
| Q3 24 | 7.3% | 24.5% | ||
| Q2 24 | 42.8% | 26.5% |
| Q1 26 | — | 16.3% | ||
| Q4 25 | -26.8% | 15.2% | ||
| Q3 25 | -22.6% | 16.2% | ||
| Q2 25 | -10.1% | 15.4% | ||
| Q1 25 | -7.2% | 53.9% | ||
| Q4 24 | -45.1% | 16.5% | ||
| Q3 24 | -20.9% | 15.8% | ||
| Q2 24 | 15.9% | 17.7% |
| Q1 26 | — | $1.08 | ||
| Q4 25 | $-12.85 | $0.99 | ||
| Q3 25 | $-11.35 | $1.02 | ||
| Q2 25 | $-6.88 | $0.96 | ||
| Q1 25 | $-4.91 | $3.24 | ||
| Q4 24 | $-13.64 | $0.91 | ||
| Q3 24 | $-12.39 | $0.88 | ||
| Q2 24 | $2.50 | $0.93 |
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 | $128.8M |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $-626.4M | — |
| Total Assets | $2.8B | $648.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $128.8M | ||
| Q4 25 | $66.1M | $196.6M | ||
| Q3 25 | $81.9M | $237.6M | ||
| Q2 25 | $100.0M | $227.9M | ||
| Q1 25 | $85.8M | $251.4M | ||
| Q4 24 | $112.9M | $315.9M | ||
| Q3 24 | $119.7M | $84.0M | ||
| Q2 24 | $121.8M | $96.7M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $1.2B | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.6B | $1.2B | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — |
| Q1 26 | — | — | ||
| Q4 25 | $-626.4M | $-736.8M | ||
| Q3 25 | $-548.7M | $-702.6M | ||
| Q2 25 | $-485.5M | $-686.0M | ||
| Q1 25 | $-446.1M | $-715.0M | ||
| Q4 24 | $-419.2M | $-675.6M | ||
| Q3 24 | $-288.4M | $-447.5M | ||
| Q2 24 | $-225.9M | $-437.5M |
| Q1 26 | — | $648.9M | ||
| Q4 25 | $2.8B | $693.4M | ||
| Q3 25 | $3.0B | $721.0M | ||
| Q2 25 | $3.1B | $708.3M | ||
| Q1 25 | $3.1B | $696.8M | ||
| Q4 24 | $3.2B | $716.2M | ||
| Q3 24 | $3.3B | $484.8M | ||
| Q2 24 | $3.3B | $451.8M |
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 | — |
| FCF MarginFCF / Revenue | -33.5% | — |
| Capex IntensityCapex / Revenue | 27.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-15.7M | $57.3M | ||
| Q3 25 | $5.5M | $63.9M | ||
| Q2 25 | $16.3M | $6.6M | ||
| Q1 25 | $-25.0M | $25.3M | ||
| Q4 24 | $-23.6M | $7.7M | ||
| Q3 24 | $795.0K | $69.0M | ||
| Q2 24 | $8.0M | $36.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-86.8M | $34.5M | ||
| Q3 25 | $-226.0K | $61.7M | ||
| Q2 25 | $-3.6M | $-7.8M | ||
| Q1 25 | $-44.8M | $17.3M | ||
| Q4 24 | $-131.6M | $-8.6M | ||
| Q3 24 | $-21.8M | $54.9M | ||
| Q2 24 | $-22.9M | $25.9M |
| Q1 26 | — | — | ||
| Q4 25 | -33.5% | 19.6% | ||
| Q3 25 | -0.1% | 35.1% | ||
| Q2 25 | -1.2% | -4.5% | ||
| Q1 25 | -16.2% | 10.1% | ||
| Q4 24 | -47.8% | -5.3% | ||
| Q3 24 | -7.9% | 33.8% | ||
| Q2 24 | -7.2% | 16.6% |
| Q1 26 | — | — | ||
| Q4 25 | 27.5% | 13.0% | ||
| Q3 25 | 2.1% | 1.3% | ||
| Q2 25 | 6.6% | 8.2% | ||
| Q1 25 | 7.2% | 4.7% | ||
| Q4 24 | 39.2% | 10.1% | ||
| Q3 24 | 8.2% | 8.7% | ||
| Q2 24 | 9.8% | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.14× | ||
| Q3 25 | — | 2.24× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 2.68× | ||
| Q2 24 | 0.16× | 1.32× |
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% |
WING
| Royalty revenue, franchise fees and other | $87.5M | 48% |
| Advertising fees | $63.3M | 34% |
| Company-owned restaurant sales | $33.0M | 18% |
