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ASHFORD HOSPITALITY TRUST INC（AHT）与8X8 INC（EGHT）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8X8 INC的1.4倍（$259.0M vs $185.1M），8X8 INC净利率更高（2.8% vs -26.8%，领先29.5%），8X8 INC同比增速更快（3.4% vs -6.0%），8X8 INC自由现金流更多（$19.1M vs $-86.8M），过去两年8X8 INC的营收复合增速更高（1.6% 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。
8x8 Inc是源自美国的企业级云通信与客户体验软件服务商，依托云架构为企业提供统一通信、呼叫中心及通信平台即服务（CPaaS）等产品方案，公司总部位于加利福尼亚州坎贝尔，其股票在纳斯达克交易所挂牌交易。
AHT vs EGHT — 直观对比
营收规模更大
AHT
是对方的1.4倍
$185.1M
营收增速更快
EGHT
高出9.4%
-6.0%
净利率更高
EGHT
高出29.5%
-26.8%
自由现金流更多
EGHT
多$105.9M
$-86.8M
两年增速更快
EGHT
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $185.1M |
| 净利润 | $-69.3M | $5.1M |
| 毛利率 | — | 63.9% |
| 营业利润率 | -2.6% | 5.2% |
| 净利率 | -26.8% | 2.8% |
| 营收同比 | -6.0% | 3.4% |
| 净利润同比 | 44.2% | 68.4% |
| 每股收益（稀释后） | $-12.85 | $0.04 |
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AHTEGHT
| Q4 25 | $259.0M | $185.1M | ||
| Q3 25 | $266.1M | $184.1M | ||
| Q2 25 | $302.0M | $181.4M | ||
| Q1 25 | $277.4M | $177.0M | ||
| Q4 24 | $275.5M | $178.9M | ||
| Q3 24 | $276.6M | $181.0M | ||
| Q2 24 | $316.5M | $178.1M | ||
| Q1 24 | $303.9M | $179.4M |
净利润AHTEGHT
| Q4 25 | $-69.3M | $5.1M | ||
| Q3 25 | $-60.1M | $767.0K | ||
| Q2 25 | $-30.4M | $-4.3M | ||
| Q1 25 | $-20.0M | $-5.4M | ||
| Q4 24 | $-124.2M | $3.0M | ||
| Q3 24 | $-57.9M | $-14.5M | ||
| Q2 24 | $50.3M | $-10.3M | ||
| Q1 24 | $71.6M | $-23.6M |
毛利率AHTEGHT
| Q4 25 | — | 63.9% | ||
| Q3 25 | — | 64.8% | ||
| Q2 25 | — | 66.4% | ||
| Q1 25 | — | 67.8% | ||
| Q4 24 | — | 67.7% | ||
| Q3 24 | — | 68.1% | ||
| Q2 24 | — | 67.9% | ||
| Q1 24 | — | 68.2% |
营业利润率AHTEGHT
| Q4 25 | -2.6% | 5.2% | ||
| Q3 25 | 4.6% | 2.9% | ||
| Q2 25 | 16.3% | 0.3% | ||
| Q1 25 | 22.2% | 0.2% | ||
| Q4 24 | -17.8% | 5.0% | ||
| Q3 24 | 7.3% | 4.0% | ||
| Q2 24 | 42.8% | -0.8% | ||
| Q1 24 | 50.2% | -7.9% |
净利率AHTEGHT
| Q4 25 | -26.8% | 2.8% | ||
| Q3 25 | -22.6% | 0.4% | ||
| Q2 25 | -10.1% | -2.4% | ||
| Q1 25 | -7.2% | -3.1% | ||
| Q4 24 | -45.1% | 1.7% | ||
| Q3 24 | -20.9% | -8.0% | ||
| Q2 24 | 15.9% | -5.8% | ||
| Q1 24 | 23.5% | -13.1% |
每股收益（稀释后）AHTEGHT
| Q4 25 | $-12.85 | $0.04 | ||
| Q3 25 | $-11.35 | $0.01 | ||
| Q2 25 | $-6.88 | $-0.03 | ||
| Q1 25 | $-4.91 | $-0.04 | ||
| Q4 24 | $-13.64 | $0.02 | ||
| Q3 24 | $-12.39 | $-0.11 | ||
| Q2 24 | $2.50 | $-0.08 | ||
| Q1 24 | $5.99 | $-0.20 |
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 | $86.9M |
| 总债务越低越好 | $2.5B | $321.2M |
| 股东权益账面价值 | $-626.4M | $142.9M |
| 总资产 | $2.8B | $661.5M |
| 负债/权益比越低杠杆越低 | — | 2.25× |
8季度趋势，按日历期对齐
现金及短期投资AHTEGHT
| Q4 25 | $66.1M | $86.9M | ||
| Q3 25 | $81.9M | $75.9M | ||
| Q2 25 | $100.0M | $81.3M | ||
| Q1 25 | $85.8M | $88.0M | ||
| Q4 24 | $112.9M | $104.2M | ||
| Q3 24 | $119.7M | $117.4M | ||
| Q2 24 | $121.8M | $130.8M | ||
| Q1 24 | $111.1M | $117.3M |
总债务AHTEGHT
| Q4 25 | $2.5B | $321.2M | ||
| Q3 25 | $2.6B | $325.8M | ||
| Q2 25 | $2.6B | $335.4M | ||
| Q1 25 | $2.7B | $350.0M | ||
| Q4 24 | $2.6B | $364.5M | ||
| Q3 24 | $2.7B | $396.9M | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $2.9B | $409.7M |
股东权益AHTEGHT
| Q4 25 | $-626.4M | $142.9M | ||
| Q3 25 | $-548.7M | $133.2M | ||
| Q2 25 | $-485.5M | $128.2M | ||
| Q1 25 | $-446.1M | $122.2M | ||
| Q4 24 | $-419.2M | $113.0M | ||
| Q3 24 | $-288.4M | $109.8M | ||
| Q2 24 | $-225.9M | $104.6M | ||
| Q1 24 | $-276.8M | $102.0M |
总资产AHTEGHT
| Q4 25 | $2.8B | $661.5M | ||
| Q3 25 | $3.0B | $670.8M | ||
| Q2 25 | $3.1B | $684.3M | ||
| Q1 25 | $3.1B | $683.2M | ||
| Q4 24 | $3.2B | $698.2M | ||
| Q3 24 | $3.3B | $740.1M | ||
| Q2 24 | $3.3B | $755.7M | ||
| Q1 24 | $3.5B | $756.0M |
负债/权益比AHTEGHT
| Q4 25 | — | 2.25× | ||
| Q3 25 | — | 2.45× | ||
| Q2 25 | — | 2.62× | ||
| Q1 25 | — | 2.86× | ||
| Q4 24 | — | 3.23× | ||
| Q3 24 | — | 3.61× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 4.02× |
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 | $20.7M |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | $19.1M |
| 自由现金流率自由现金流/营收 | -33.5% | 10.3% |
| 资本支出强度资本支出/营收 | 27.5% | 0.9% |
| 现金转化率经营现金流/净利润 | — | 4.07× |
| 过去12个月自由现金流最近4个季度 | $-135.5M | $43.8M |
8季度趋势，按日历期对齐
经营现金流AHTEGHT
| Q4 25 | $-15.7M | $20.7M | ||
| Q3 25 | $5.5M | $8.8M | ||
| Q2 25 | $16.3M | $11.9M | ||
| Q1 25 | $-25.0M | $5.9M | ||
| Q4 24 | $-23.6M | $27.2M | ||
| Q3 24 | $795.0K | $12.3M | ||
| Q2 24 | $8.0M | $18.1M | ||
| Q1 24 | $-46.5M | $12.7M |
自由现金流AHTEGHT
| Q4 25 | $-86.8M | $19.1M | ||
| Q3 25 | $-226.0K | $7.7M | ||
| Q2 25 | $-3.6M | $11.5M | ||
| Q1 25 | $-44.8M | $5.5M | ||
| Q4 24 | $-131.6M | $26.8M | ||
| Q3 24 | $-21.8M | $11.1M | ||
| Q2 24 | $-22.9M | $17.8M | ||
| Q1 24 | $-80.4M | $12.3M |
自由现金流率AHTEGHT
| Q4 25 | -33.5% | 10.3% | ||
| Q3 25 | -0.1% | 4.2% | ||
| Q2 25 | -1.2% | 6.3% | ||
| Q1 25 | -16.2% | 3.1% | ||
| Q4 24 | -47.8% | 15.0% | ||
| Q3 24 | -7.9% | 6.1% | ||
| Q2 24 | -7.2% | 10.0% | ||
| Q1 24 | -26.5% | 6.9% |
资本支出强度AHTEGHT
| Q4 25 | 27.5% | 0.9% | ||
| Q3 25 | 2.1% | 0.6% | ||
| Q2 25 | 6.6% | 0.2% | ||
| Q1 25 | 7.2% | 0.2% | ||
| Q4 24 | 39.2% | 0.3% | ||
| Q3 24 | 8.2% | 0.7% | ||
| Q2 24 | 9.8% | 0.2% | ||
| Q1 24 | 11.2% | 0.2% |
现金转化率AHTEGHT
| Q4 25 | — | 4.07× | ||
| Q3 25 | — | 11.52× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 9.01× | ||
| 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% |
EGHT
| Services | $179.7M | 97% |
| Other | $5.4M | 3% |
