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ASHFORD HOSPITALITY TRUST INC（AHT）与和黄医药（HCM）财务数据对比。点击上方公司名可切换其他公司
和黄医药的季度营收约是ASHFORD HOSPITALITY TRUST INC的1.0倍（$270.8M vs $259.0M），和黄医药净利率更高（0.7% vs -26.8%，领先27.5%），ASHFORD HOSPITALITY TRUST INC同比增速更快（-6.0% vs -16.5%），和黄医药自由现金流更多（$3.4M vs $-86.8M）
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。
和黄医药是一家国际化生物制药企业，专注于肿瘤、免疫类疾病的靶向疗法与免疫疗法的研发、生产及商业化，核心市场覆盖中国及全球多个国家地区，已有多款肿瘤治疗药物上市，后期临床管线储备丰富。
AHT vs HCM — 直观对比
营收规模更大
HCM
是对方的1.0倍
$259.0M
营收增速更快
AHT
高出10.5%
-16.5%
净利率更高
HCM
高出27.5%
-26.8%
自由现金流更多
HCM
多$90.2M
$-86.8M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $270.8M |
| 净利润 | $-69.3M | $2.0M |
| 毛利率 | — | 37.7% |
| 营业利润率 | -2.6% | -13.2% |
| 净利率 | -26.8% | 0.7% |
| 营收同比 | -6.0% | -16.5% |
| 净利润同比 | 44.2% | -83.6% |
| 每股收益（稀释后） | $-12.85 | $0.00 |
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AHTHCM
| Q4 25 | $259.0M | $270.8M | ||
| Q3 25 | $266.1M | — | ||
| Q2 25 | $302.0M | $277.7M | ||
| Q1 25 | $277.4M | $324.5M | ||
| Q4 24 | $275.5M | — | ||
| Q3 24 | $276.6M | — | ||
| Q2 24 | $316.5M | $305.7M | ||
| Q1 24 | $303.9M | — |
净利润AHTHCM
| Q4 25 | $-69.3M | $2.0M | ||
| Q3 25 | $-60.1M | — | ||
| Q2 25 | $-30.4M | $455.0M | ||
| Q1 25 | $-20.0M | $11.9M | ||
| Q4 24 | $-124.2M | — | ||
| Q3 24 | $-57.9M | — | ||
| Q2 24 | $50.3M | $25.8M | ||
| Q1 24 | $71.6M | — |
毛利率AHTHCM
| Q4 25 | — | 37.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 41.1% | ||
| Q1 24 | — | — |
营业利润率AHTHCM
| Q4 25 | -2.6% | -13.2% | ||
| Q3 25 | 4.6% | — | ||
| Q2 25 | 16.3% | -1.3% | ||
| Q1 25 | 22.2% | -5.0% | ||
| Q4 24 | -17.8% | — | ||
| Q3 24 | 7.3% | — | ||
| Q2 24 | 42.8% | -9.0% | ||
| Q1 24 | 50.2% | — |
净利率AHTHCM
| Q4 25 | -26.8% | 0.7% | ||
| Q3 25 | -22.6% | — | ||
| Q2 25 | -10.1% | 163.8% | ||
| Q1 25 | -7.2% | 3.7% | ||
| Q4 24 | -45.1% | — | ||
| Q3 24 | -20.9% | — | ||
| Q2 24 | 15.9% | 8.4% | ||
| Q1 24 | 23.5% | — |
每股收益（稀释后）AHTHCM
| Q4 25 | $-12.85 | $0.00 | ||
| Q3 25 | $-11.35 | — | ||
| Q2 25 | $-6.88 | $0.52 | ||
| Q1 25 | $-4.91 | $0.01 | ||
| Q4 24 | $-13.64 | — | ||
| Q3 24 | $-12.39 | — | ||
| Q2 24 | $2.50 | $0.03 | ||
| Q1 24 | $5.99 | — |
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 | $1.4B |
| 总债务越低越好 | $2.5B | $93.2M |
| 股东权益账面价值 | $-626.4M | $1.2B |
| 总资产 | $2.8B | $1.8B |
| 负债/权益比越低杠杆越低 | — | 0.08× |
8季度趋势，按日历期对齐
现金及短期投资AHTHCM
| Q4 25 | $66.1M | $1.4B | ||
| Q3 25 | $81.9M | — | ||
| Q2 25 | $100.0M | $1.4B | ||
| Q1 25 | $85.8M | $836.1M | ||
| Q4 24 | $112.9M | — | ||
| Q3 24 | $119.7M | — | ||
| Q2 24 | $121.8M | $802.5M | ||
| Q1 24 | $111.1M | — |
总债务AHTHCM
| Q4 25 | $2.5B | $93.2M | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | $93.4M | ||
| Q1 25 | $2.7B | $82.8M | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | $82.1M | ||
| Q1 24 | $2.9B | — |
股东权益AHTHCM
| Q4 25 | $-626.4M | $1.2B | ||
| Q3 25 | $-548.7M | — | ||
| Q2 25 | $-485.5M | $1.2B | ||
| Q1 25 | $-446.1M | $759.9M | ||
| Q4 24 | $-419.2M | — | ||
| Q3 24 | $-288.4M | — | ||
| Q2 24 | $-225.9M | $740.1M | ||
| Q1 24 | $-276.8M | — |
总资产AHTHCM
| Q4 25 | $2.8B | $1.8B | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.1B | $1.8B | ||
| Q1 25 | $3.1B | $1.3B | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.3B | — | ||
| Q2 24 | $3.3B | $1.3B | ||
| Q1 24 | $3.5B | — |
负债/权益比AHTHCM
| Q4 25 | — | 0.08× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.11× | ||
| Q1 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 | $8.2M |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | $3.4M |
| 自由现金流率自由现金流/营收 | -33.5% | 1.2% |
| 资本支出强度资本支出/营收 | 27.5% | 1.8% |
| 现金转化率经营现金流/净利润 | — | 4.21× |
| 过去12个月自由现金流最近4个季度 | $-135.5M | $-96.2M |
8季度趋势，按日历期对齐
经营现金流AHTHCM
| Q4 25 | $-15.7M | $8.2M | ||
| Q3 25 | $5.5M | — | ||
| Q2 25 | $16.3M | $-72.9M | ||
| Q1 25 | $-25.0M | $40.3M | ||
| Q4 24 | $-23.6M | — | ||
| Q3 24 | $795.0K | — | ||
| Q2 24 | $8.0M | $-39.8M | ||
| Q1 24 | $-46.5M | — |
自由现金流AHTHCM
| Q4 25 | $-86.8M | $3.4M | ||
| Q3 25 | $-226.0K | — | ||
| Q2 25 | $-3.6M | $-82.2M | ||
| Q1 25 | $-44.8M | $32.5M | ||
| Q4 24 | $-131.6M | — | ||
| Q3 24 | $-21.8M | — | ||
| Q2 24 | $-22.9M | $-49.9M | ||
| Q1 24 | $-80.4M | — |
自由现金流率AHTHCM
| Q4 25 | -33.5% | 1.2% | ||
| Q3 25 | -0.1% | — | ||
| Q2 25 | -1.2% | -29.6% | ||
| Q1 25 | -16.2% | 10.0% | ||
| Q4 24 | -47.8% | — | ||
| Q3 24 | -7.9% | — | ||
| Q2 24 | -7.2% | -16.3% | ||
| Q1 24 | -26.5% | — |
资本支出强度AHTHCM
| Q4 25 | 27.5% | 1.8% | ||
| Q3 25 | 2.1% | — | ||
| Q2 25 | 6.6% | 3.3% | ||
| Q1 25 | 7.2% | 2.4% | ||
| Q4 24 | 39.2% | — | ||
| Q3 24 | 8.2% | — | ||
| Q2 24 | 9.8% | 3.3% | ||
| Q1 24 | 11.2% | — |
现金转化率AHTHCM
| Q4 25 | — | 4.21× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.16× | ||
| Q1 25 | — | 3.38× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.16× | -1.54× | ||
| 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% |
HCM
暂无分部数据
