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ASHFORD HOSPITALITY TRUST INC（AHT）与CATALYST PHARMACEUTICALS, INC.（CPRX）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CATALYST PHARMACEUTICALS, INC.的1.7倍（$259.0M vs $152.6M），CATALYST PHARMACEUTICALS, INC.净利率更高（34.5% vs -26.8%，领先61.3%），CATALYST PHARMACEUTICALS, INC.同比增速更快（7.6% vs -6.0%），CATALYST PHARMACEUTICALS, INC.自由现金流更多（$44.9M vs $-86.8M），过去两年CATALYST PHARMACEUTICALS, INC.的营收复合增速更高（24.5% 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。
Catalyst Pharmaceuticals是一家总部位于美国佛罗里达州科勒尔盖布尔斯的生物制药企业，专注于罕见病药物研发。核心产品包括用于治疗兰伯特-伊顿肌无力综合征（LEMS）的氨吡啶磷酸盐，商品名为Firdapse。该药物2018年11月获FDA批准，除原有成人适应症外，还可用于6岁及以上的LEMS儿童患者。
AHT vs CPRX — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $152.6M |
| 净利润 | $-69.3M | $52.7M |
| 毛利率 | — | 82.9% |
| 营业利润率 | -2.6% | 40.5% |
| 净利率 | -26.8% | 34.5% |
| 营收同比 | -6.0% | 7.6% |
| 净利润同比 | 44.2% | -5.8% |
| 每股收益（稀释后） | $-12.85 | $0.40 |
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
| Q4 25 | $259.0M | $152.6M | ||
| Q3 25 | $266.1M | $148.4M | ||
| Q2 25 | $302.0M | $146.6M | ||
| Q1 25 | $277.4M | $141.4M | ||
| Q4 24 | $275.5M | $141.8M | ||
| Q3 24 | $276.6M | $128.7M | ||
| Q2 24 | $316.5M | $122.7M | ||
| Q1 24 | $303.9M | $98.5M |
| Q4 25 | $-69.3M | $52.7M | ||
| Q3 25 | $-60.1M | $52.8M | ||
| Q2 25 | $-30.4M | $52.1M | ||
| Q1 25 | $-20.0M | $56.7M | ||
| Q4 24 | $-124.2M | $55.9M | ||
| Q3 24 | $-57.9M | $43.9M | ||
| Q2 24 | $50.3M | $40.8M | ||
| Q1 24 | $71.6M | $23.3M |
| Q4 25 | — | 82.9% | ||
| Q3 25 | — | 84.7% | ||
| Q2 25 | — | 85.9% | ||
| Q1 25 | — | 87.3% | ||
| Q4 24 | — | 84.7% | ||
| Q3 24 | — | 85.0% | ||
| Q2 24 | — | 87.4% | ||
| Q1 24 | — | 87.3% |
| Q4 25 | -2.6% | 40.5% | ||
| Q3 25 | 4.6% | 44.7% | ||
| Q2 25 | 16.3% | 45.2% | ||
| Q1 25 | 22.2% | 44.8% | ||
| Q4 24 | -17.8% | 44.3% | ||
| Q3 24 | 7.3% | 39.6% | ||
| Q2 24 | 42.8% | 44.2% | ||
| Q1 24 | 50.2% | 27.5% |
| Q4 25 | -26.8% | 34.5% | ||
| Q3 25 | -22.6% | 35.6% | ||
| Q2 25 | -10.1% | 35.6% | ||
| Q1 25 | -7.2% | 40.1% | ||
| Q4 24 | -45.1% | 39.4% | ||
| Q3 24 | -20.9% | 34.1% | ||
| Q2 24 | 15.9% | 33.2% | ||
| Q1 24 | 23.5% | 23.6% |
| Q4 25 | $-12.85 | $0.40 | ||
| Q3 25 | $-11.35 | $0.42 | ||
| Q2 25 | $-6.88 | $0.41 | ||
| Q1 25 | $-4.91 | $0.45 | ||
| Q4 24 | $-13.64 | $0.44 | ||
| Q3 24 | $-12.39 | $0.35 | ||
| Q2 24 | $2.50 | $0.33 | ||
| Q1 24 | $5.99 | $0.19 |
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 | $709.2M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $-626.4M | $954.3M |
| 总资产 | $2.8B | $1.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $66.1M | $709.2M | ||
| Q3 25 | $81.9M | $689.9M | ||
| Q2 25 | $100.0M | $652.8M | ||
| Q1 25 | $85.8M | $580.7M | ||
| Q4 24 | $112.9M | $517.6M | ||
| Q3 24 | $119.7M | $442.3M | ||
| Q2 24 | $121.8M | $375.7M | ||
| Q1 24 | $111.1M | $310.4M |
| 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 | $954.3M | ||
| Q3 25 | $-548.7M | $920.2M | ||
| Q2 25 | $-485.5M | $856.0M | ||
| Q1 25 | $-446.1M | $794.3M | ||
| Q4 24 | $-419.2M | $727.6M | ||
| Q3 24 | $-288.4M | $660.9M | ||
| Q2 24 | $-225.9M | $608.7M | ||
| Q1 24 | $-276.8M | $561.4M |
| Q4 25 | $2.8B | $1.1B | ||
| Q3 25 | $3.0B | $1.1B | ||
| Q2 25 | $3.1B | $971.9M | ||
| Q1 25 | $3.1B | $908.9M | ||
| Q4 24 | $3.2B | $851.4M | ||
| Q3 24 | $3.3B | $772.0M | ||
| Q2 24 | $3.3B | $706.4M | ||
| Q1 24 | $3.5B | $646.7M |
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 | $44.9M |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | $44.9M |
| 自由现金流率自由现金流/营收 | -33.5% | 29.4% |
| 资本支出强度资本支出/营收 | 27.5% | 0.0% |
| 现金转化率经营现金流/净利润 | — | 0.85× |
| 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
| Q4 25 | $-15.7M | $44.9M | ||
| Q3 25 | $5.5M | $32.4M | ||
| Q2 25 | $16.3M | $71.3M | ||
| Q1 25 | $-25.0M | $60.0M | ||
| Q4 24 | $-23.6M | $70.9M | ||
| Q3 24 | $795.0K | $72.9M | ||
| Q2 24 | $8.0M | $64.1M | ||
| Q1 24 | $-46.5M | $31.9M |
| Q4 25 | $-86.8M | $44.9M | ||
| Q3 25 | $-226.0K | — | ||
| Q2 25 | $-3.6M | $71.3M | ||
| Q1 25 | $-44.8M | — | ||
| Q4 24 | $-131.6M | $70.8M | ||
| Q3 24 | $-21.8M | $72.6M | ||
| Q2 24 | $-22.9M | $64.1M | ||
| Q1 24 | $-80.4M | $31.7M |
| Q4 25 | -33.5% | 29.4% | ||
| Q3 25 | -0.1% | — | ||
| Q2 25 | -1.2% | 48.6% | ||
| Q1 25 | -16.2% | — | ||
| Q4 24 | -47.8% | 49.9% | ||
| Q3 24 | -7.9% | 56.4% | ||
| Q2 24 | -7.2% | 52.3% | ||
| Q1 24 | -26.5% | 32.2% |
| Q4 25 | 27.5% | 0.0% | ||
| Q3 25 | 2.1% | 0.0% | ||
| Q2 25 | 6.6% | 0.0% | ||
| Q1 25 | 7.2% | 0.0% | ||
| Q4 24 | 39.2% | 0.1% | ||
| Q3 24 | 8.2% | 0.2% | ||
| Q2 24 | 9.8% | 0.0% | ||
| Q1 24 | 11.2% | 0.2% |
| Q4 25 | — | 0.85× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 1.37× | ||
| Q1 25 | — | 1.06× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | 1.66× | ||
| Q2 24 | 0.16× | 1.57× | ||
| Q1 24 | -0.65× | 1.37× |
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% |
CPRX
| Firdapse | $97.6M | 64% |
| Agamree | $35.3M | 23% |
| Fycompa | $19.6M | 13% |
