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ASHFORD HOSPITALITY TRUST INC（AHT）与APOGEE ENTERPRISES, INC.（APOG）财务数据对比。点击上方公司名可切换其他公司
APOGEE ENTERPRISES, INC.的季度营收约是ASHFORD HOSPITALITY TRUST INC的1.4倍（$351.4M vs $259.0M），APOGEE ENTERPRISES, INC.净利率更高（4.7% vs -26.8%，领先31.5%），APOGEE ENTERPRISES, INC.同比增速更快（1.6% vs -6.0%），过去两年APOGEE ENTERPRISES, INC.的营收复合增速更高（2.9% vs -7.7%）
阿什福德酒店信托是一家总部位于美国的房地产投资信托，主要投资美国核心城市、郊区及度假区的高端全服务酒店资产，旗下物业多由全球知名酒店品牌运营，服务商务与休闲旅客，专注实现长期资产增值与稳定股东回报。
Apogee Enterprises是一家美国音频设备制造商，主营音频接口、模数与数模转换器、USB及iOS麦克风，同时还开发音频制作相关软件，产品广泛服务于专业录音、音乐创作等音频领域，在全球音频行业拥有较高的认可度。
AHT vs APOG — 直观对比
营收规模更大
APOG
是对方的1.4倍
$259.0M
营收增速更快
APOG
高出7.6%
-6.0%
净利率更高
APOG
高出31.5%
-26.8%
两年增速更快
APOG
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q4 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $351.4M |
| 净利润 | $-69.3M | $16.6M |
| 毛利率 | — | 22.4% |
| 营业利润率 | -2.6% | 7.3% |
| 净利率 | -26.8% | 4.7% |
| 营收同比 | -6.0% | 1.6% |
| 净利润同比 | 44.2% | 568.8% |
| 每股收益（稀释后） | $-12.85 | $0.78 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AHTAPOG
| Q1 26 | — | $351.4M | ||
| Q4 25 | $259.0M | $348.6M | ||
| Q3 25 | $266.1M | $358.2M | ||
| Q2 25 | $302.0M | $346.6M | ||
| Q1 25 | $277.4M | $345.7M | ||
| Q4 24 | $275.5M | $341.3M | ||
| Q3 24 | $276.6M | $342.4M | ||
| Q2 24 | $316.5M | $331.5M |
净利润AHTAPOG
| Q1 26 | — | $16.6M | ||
| Q4 25 | $-69.3M | $16.5M | ||
| Q3 25 | $-60.1M | $23.6M | ||
| Q2 25 | $-30.4M | $-2.7M | ||
| Q1 25 | $-20.0M | $2.5M | ||
| Q4 24 | $-124.2M | $21.0M | ||
| Q3 24 | $-57.9M | $30.6M | ||
| Q2 24 | $50.3M | $31.0M |
毛利率AHTAPOG
| Q1 26 | — | 22.4% | ||
| Q4 25 | — | 23.8% | ||
| Q3 25 | — | 23.1% | ||
| Q2 25 | — | 21.7% | ||
| Q1 25 | — | 21.6% | ||
| Q4 24 | — | 26.1% | ||
| Q3 24 | — | 28.4% | ||
| Q2 24 | — | 29.8% |
营业利润率AHTAPOG
| Q1 26 | — | 7.3% | ||
| Q4 25 | -2.6% | 7.1% | ||
| Q3 25 | 4.6% | 7.5% | ||
| Q2 25 | 16.3% | 2.0% | ||
| Q1 25 | 22.2% | 1.8% | ||
| Q4 24 | -17.8% | 8.4% | ||
| Q3 24 | 7.3% | 12.3% | ||
| Q2 24 | 42.8% | 12.5% |
净利率AHTAPOG
| Q1 26 | — | 4.7% | ||
| Q4 25 | -26.8% | 4.7% | ||
| Q3 25 | -22.6% | 6.6% | ||
| Q2 25 | -10.1% | -0.8% | ||
| Q1 25 | -7.2% | 0.7% | ||
| Q4 24 | -45.1% | 6.1% | ||
| Q3 24 | -20.9% | 8.9% | ||
| Q2 24 | 15.9% | 9.4% |
每股收益（稀释后）AHTAPOG
| Q1 26 | — | $0.78 | ||
| Q4 25 | $-12.85 | $0.77 | ||
| Q3 25 | $-11.35 | $1.10 | ||
| Q2 25 | $-6.88 | $-0.13 | ||
| Q1 25 | $-4.91 | $0.12 | ||
| Q4 24 | $-13.64 | $0.96 | ||
| Q3 24 | $-12.39 | $1.40 | ||
| Q2 24 | $2.50 | $1.41 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $66.1M | $39.5M |
| 总债务越低越好 | $2.5B | $232.3M |
| 股东权益账面价值 | $-626.4M | $511.8M |
| 总资产 | $2.8B | $1.1B |
| 负债/权益比越低杠杆越低 | — | 0.45× |
8季度趋势，按日历期对齐
现金及短期投资AHTAPOG
| Q1 26 | — | $39.5M | ||
| Q4 25 | $66.1M | $41.3M | ||
| Q3 25 | $81.9M | $39.5M | ||
| Q2 25 | $100.0M | $32.8M | ||
| Q1 25 | $85.8M | $41.4M | ||
| Q4 24 | $112.9M | $43.9M | ||
| Q3 24 | $119.7M | $51.0M | ||
| Q2 24 | $121.8M | $30.4M |
总债务AHTAPOG
| Q1 26 | — | $232.3M | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.7B | $285.0M | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — |
股东权益AHTAPOG
| Q1 26 | — | $511.8M | ||
| Q4 25 | $-626.4M | $512.3M | ||
| Q3 25 | $-548.7M | $500.2M | ||
| Q2 25 | $-485.5M | $481.8M | ||
| Q1 25 | $-446.1M | $487.9M | ||
| Q4 24 | $-419.2M | $522.1M | ||
| Q3 24 | $-288.4M | $506.4M | ||
| Q2 24 | $-225.9M | $480.0M |
总资产AHTAPOG
| Q1 26 | — | $1.1B | ||
| Q4 25 | $2.8B | $1.1B | ||
| Q3 25 | $3.0B | $1.2B | ||
| Q2 25 | $3.1B | $1.2B | ||
| Q1 25 | $3.1B | $1.2B | ||
| Q4 24 | $3.2B | $1.2B | ||
| Q3 24 | $3.3B | $917.1M | ||
| Q2 24 | $3.3B | $889.0M |
负债/权益比AHTAPOG
| Q1 26 | — | 0.45× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-15.7M | $122.5M |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | — |
| 自由现金流率自由现金流/营收 | -33.5% | — |
| 资本支出强度资本支出/营收 | 27.5% | 7.8% |
| 现金转化率经营现金流/净利润 | — | 7.37× |
| 过去12个月自由现金流最近4个季度 | $-135.5M | — |
8季度趋势，按日历期对齐
经营现金流AHTAPOG
| Q1 26 | — | $122.5M | ||
| Q4 25 | $-15.7M | $29.3M | ||
| Q3 25 | $5.5M | $57.1M | ||
| Q2 25 | $16.3M | $-19.8M | ||
| Q1 25 | $-25.0M | $30.0M | ||
| Q4 24 | $-23.6M | $31.0M | ||
| Q3 24 | $795.0K | $58.7M | ||
| Q2 24 | $8.0M | $5.5M |
自由现金流AHTAPOG
| Q1 26 | — | — | ||
| Q4 25 | $-86.8M | $22.9M | ||
| Q3 25 | $-226.0K | $52.4M | ||
| Q2 25 | $-3.6M | $-26.9M | ||
| Q1 25 | $-44.8M | $19.1M | ||
| Q4 24 | $-131.6M | $22.0M | ||
| Q3 24 | $-21.8M | $50.2M | ||
| Q2 24 | $-22.9M | $-1.8M |
自由现金流率AHTAPOG
| Q1 26 | — | — | ||
| Q4 25 | -33.5% | 6.6% | ||
| Q3 25 | -0.1% | 14.6% | ||
| Q2 25 | -1.2% | -7.8% | ||
| Q1 25 | -16.2% | 5.5% | ||
| Q4 24 | -47.8% | 6.4% | ||
| Q3 24 | -7.9% | 14.7% | ||
| Q2 24 | -7.2% | -0.5% |
资本支出强度AHTAPOG
| Q1 26 | — | 7.8% | ||
| Q4 25 | 27.5% | 1.9% | ||
| Q3 25 | 2.1% | 1.3% | ||
| Q2 25 | 6.6% | 2.1% | ||
| Q1 25 | 7.2% | 3.2% | ||
| Q4 24 | 39.2% | 2.6% | ||
| Q3 24 | 8.2% | 2.5% | ||
| Q2 24 | 9.8% | 2.2% |
现金转化率AHTAPOG
| Q1 26 | — | 7.37× | ||
| Q4 25 | — | 1.77× | ||
| Q3 25 | — | 2.41× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 12.08× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | — | 1.92× | ||
| Q2 24 | 0.16× | 0.18× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AHT
| Occupancy | $190.2M | 73% |
| Food And Beverage | $51.8M | 20% |
| Hotel Other | $16.6M | 6% |
APOG
| Architectural Services | $127.1M | 36% |
| Architectural Metals | $110.0M | 31% |
| Architectural Glass | $67.4M | 19% |
| Performance Surfaces | $54.3M | 15% |
