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ASHFORD HOSPITALITY TRUST INC（AHT）与Asana, Inc.（ASAN）财务数据对比。点击上方公司名可切换其他公司
ASHFORD HOSPITALITY TRUST INC的季度营收约是Asana, Inc.的1.3倍（$259.0M vs $201.0M），ASHFORD HOSPITALITY TRUST INC净利率更高（-26.8% vs -34.0%，领先7.3%），Asana, Inc.同比增速更快（9.3% vs -6.0%），Asana, Inc.自由现金流更多（$15.5M vs $-86.8M），过去两年Asana, Inc.的营收复合增速更高（8.4% 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。
Asana是一家总部位于美国旧金山的软件企业，由达斯汀·莫斯科维茨和贾斯汀·罗森斯坦于2008年创立，核心产品是同名工作管理平台，支持网页端与移动端使用，可帮助团队梳理、跟踪及统筹各类工作事项，2012年4月正式商业化推出，2020年9月直接上市，当时估值达55亿美元。
AHT vs ASAN — 直观对比
营收规模更大
AHT
是对方的1.3倍
$201.0M
营收增速更快
ASAN
高出15.3%
-6.0%
净利率更高
AHT
高出7.3%
-34.0%
自由现金流更多
ASAN
多$102.3M
$-86.8M
两年增速更快
ASAN
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $201.0M |
| 净利润 | $-69.3M | $-68.4M |
| 毛利率 | — | 88.9% |
| 营业利润率 | -2.6% | -34.8% |
| 净利率 | -26.8% | -34.0% |
| 营收同比 | -6.0% | 9.3% |
| 净利润同比 | 44.2% | -19.4% |
| 每股收益（稀释后） | $-12.85 | $-0.29 |
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AHTASAN
| Q4 25 | $259.0M | $201.0M | ||
| Q3 25 | $266.1M | $196.9M | ||
| Q2 25 | $302.0M | $187.3M | ||
| Q1 25 | $277.4M | $188.3M | ||
| Q4 24 | $275.5M | $183.9M | ||
| Q3 24 | $276.6M | $179.2M | ||
| Q2 24 | $316.5M | $172.4M | ||
| Q1 24 | $303.9M | $171.1M |
净利润AHTASAN
| Q4 25 | $-69.3M | $-68.4M | ||
| Q3 25 | $-60.1M | $-48.4M | ||
| Q2 25 | $-30.4M | $-40.0M | ||
| Q1 25 | $-20.0M | $-62.3M | ||
| Q4 24 | $-124.2M | $-57.3M | ||
| Q3 24 | $-57.9M | $-72.2M | ||
| Q2 24 | $50.3M | $-63.7M | ||
| Q1 24 | $71.6M | $-62.4M |
毛利率AHTASAN
| Q4 25 | — | 88.9% | ||
| Q3 25 | — | 89.7% | ||
| Q2 25 | — | 89.7% | ||
| Q1 25 | — | 89.6% | ||
| Q4 24 | — | 89.2% | ||
| Q3 24 | — | 88.8% | ||
| Q2 24 | — | 89.7% | ||
| Q1 24 | — | 89.8% |
营业利润率AHTASAN
| Q4 25 | -2.6% | -34.8% | ||
| Q3 25 | 4.6% | -25.1% | ||
| Q2 25 | 16.3% | -23.4% | ||
| Q1 25 | 22.2% | -33.8% | ||
| Q4 24 | -17.8% | -32.7% | ||
| Q3 24 | 7.3% | -42.9% | ||
| Q2 24 | 42.8% | -38.4% | ||
| Q1 24 | 50.2% | -39.7% |
净利率AHTASAN
| Q4 25 | -26.8% | -34.0% | ||
| Q3 25 | -22.6% | -24.6% | ||
| Q2 25 | -10.1% | -21.4% | ||
| Q1 25 | -7.2% | -33.1% | ||
| Q4 24 | -45.1% | -31.2% | ||
| Q3 24 | -20.9% | -40.3% | ||
| Q2 24 | 15.9% | -37.0% | ||
| Q1 24 | 23.5% | -36.5% |
每股收益（稀释后）AHTASAN
| Q4 25 | $-12.85 | $-0.29 | ||
| Q3 25 | $-11.35 | $-0.20 | ||
| Q2 25 | $-6.88 | $-0.17 | ||
| Q1 25 | $-4.91 | $-0.27 | ||
| Q4 24 | $-13.64 | $-0.25 | ||
| Q3 24 | $-12.39 | $-0.31 | ||
| Q2 24 | $2.50 | $-0.28 | ||
| Q1 24 | $5.99 | $-0.28 |
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 | $183.5M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $-626.4M | $188.4M |
| 总资产 | $2.8B | $840.4M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AHTASAN
| Q4 25 | $66.1M | $183.5M | ||
| Q3 25 | $81.9M | $184.1M | ||
| Q2 25 | $100.0M | $193.8M | ||
| Q1 25 | $85.8M | $184.7M | ||
| Q4 24 | $112.9M | $196.8M | ||
| Q3 24 | $119.7M | $219.4M | ||
| Q2 24 | $121.8M | $222.0M | ||
| Q1 24 | $111.1M | $236.7M |
总债务AHTASAN
| 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 | — |
股东权益AHTASAN
| Q4 25 | $-626.4M | $188.4M | ||
| Q3 25 | $-548.7M | $224.6M | ||
| Q2 25 | $-485.5M | $236.3M | ||
| Q1 25 | $-446.1M | $227.5M | ||
| Q4 24 | $-419.2M | $239.3M | ||
| Q3 24 | $-288.4M | $291.9M | ||
| Q2 24 | $-225.9M | $319.9M | ||
| Q1 24 | $-276.8M | $326.4M |
总资产AHTASAN
| Q4 25 | $2.8B | $840.4M | ||
| Q3 25 | $3.0B | $883.2M | ||
| Q2 25 | $3.1B | $877.1M | ||
| Q1 25 | $3.1B | $891.4M | ||
| Q4 24 | $3.2B | $874.2M | ||
| Q3 24 | $3.3B | $945.4M | ||
| Q2 24 | $3.3B | $978.2M | ||
| Q1 24 | $3.5B | $962.0M |
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 | $16.2M |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | $15.5M |
| 自由现金流率自由现金流/营收 | -33.5% | 7.7% |
| 资本支出强度资本支出/营收 | 27.5% | 0.3% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-135.5M | $74.5M |
8季度趋势，按日历期对齐
经营现金流AHTASAN
| Q4 25 | $-15.7M | $16.2M | ||
| Q3 25 | $5.5M | $39.8M | ||
| Q2 25 | $16.3M | $6.8M | ||
| Q1 25 | $-25.0M | $15.9M | ||
| Q4 24 | $-23.6M | $-14.9M | ||
| Q3 24 | $795.0K | $15.9M | ||
| Q2 24 | $8.0M | $-1.9M | ||
| Q1 24 | $-46.5M | $-15.3M |
自由现金流AHTASAN
| Q4 25 | $-86.8M | $15.5M | ||
| Q3 25 | $-226.0K | $38.5M | ||
| Q2 25 | $-3.6M | $6.1M | ||
| Q1 25 | $-44.8M | $14.3M | ||
| Q4 24 | $-131.6M | $-16.3M | ||
| Q3 24 | $-21.8M | $14.2M | ||
| Q2 24 | $-22.9M | $-2.9M | ||
| Q1 24 | $-80.4M | $-15.8M |
自由现金流率AHTASAN
| Q4 25 | -33.5% | 7.7% | ||
| Q3 25 | -0.1% | 19.6% | ||
| Q2 25 | -1.2% | 3.3% | ||
| Q1 25 | -16.2% | 7.6% | ||
| Q4 24 | -47.8% | -8.8% | ||
| Q3 24 | -7.9% | 7.9% | ||
| Q2 24 | -7.2% | -1.7% | ||
| Q1 24 | -26.5% | -9.3% |
资本支出强度AHTASAN
| Q4 25 | 27.5% | 0.3% | ||
| Q3 25 | 2.1% | 0.7% | ||
| Q2 25 | 6.6% | 0.3% | ||
| Q1 25 | 7.2% | 0.8% | ||
| Q4 24 | 39.2% | 0.7% | ||
| Q3 24 | 8.2% | 0.9% | ||
| Q2 24 | 9.8% | 0.6% | ||
| Q1 24 | 11.2% | 0.3% |
现金转化率AHTASAN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.16× | — | ||
| Q1 24 | -0.65× | — |
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% |
ASAN
| US | $118.5M | 59% |
| Non Us | $82.5M | 41% |
