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ASHFORD HOSPITALITY TRUST INC（AHT）与INTERPARFUMS INC（IPAR）财务数据对比。点击上方公司名可切换其他公司
INTERPARFUMS INC的季度营收约是ASHFORD HOSPITALITY TRUST INC的1.5倍（$386.2M vs $259.0M），INTERPARFUMS INC净利率更高（7.3% vs -26.8%，领先34.0%），INTERPARFUMS INC同比增速更快（6.8% vs -6.0%），INTERPARFUMS INC自由现金流更多（$145.0M vs $-86.8M），过去两年INTERPARFUMS INC的营收复合增速更高（9.2% 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。
Inter Parfums Inc是全球知名的高端香水企业，开发、生产并销售多款授权香水、身体护理及相关美妆产品，与多家顶级奢侈时尚生活方式品牌合作推出联名香氛系列，产品覆盖全球主要市场，通过百货、美妆专营店及官方电商渠道触达消费者。
AHT vs IPAR — 直观对比
营收规模更大
IPAR
是对方的1.5倍
$259.0M
营收增速更快
IPAR
高出12.8%
-6.0%
净利率更高
IPAR
高出34.0%
-26.8%
自由现金流更多
IPAR
多$231.8M
$-86.8M
两年增速更快
IPAR
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $386.2M |
| 净利润 | $-69.3M | $28.1M |
| 毛利率 | — | 61.5% |
| 营业利润率 | -2.6% | 7.1% |
| 净利率 | -26.8% | 7.3% |
| 营收同比 | -6.0% | 6.8% |
| 净利润同比 | 44.2% | 16.0% |
| 每股收益（稀释后） | $-12.85 | $0.88 |
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AHTIPAR
| Q4 25 | $259.0M | $386.2M | ||
| Q3 25 | $266.1M | $429.6M | ||
| Q2 25 | $302.0M | $333.9M | ||
| Q1 25 | $277.4M | $338.8M | ||
| Q4 24 | $275.5M | $361.5M | ||
| Q3 24 | $276.6M | $424.6M | ||
| Q2 24 | $316.5M | $342.2M | ||
| Q1 24 | $303.9M | $324.0M |
净利润AHTIPAR
| Q4 25 | $-69.3M | $28.1M | ||
| Q3 25 | $-60.1M | $65.8M | ||
| Q2 25 | $-30.4M | $32.0M | ||
| Q1 25 | $-20.0M | $42.5M | ||
| Q4 24 | $-124.2M | $24.2M | ||
| Q3 24 | $-57.9M | $62.3M | ||
| Q2 24 | $50.3M | $36.8M | ||
| Q1 24 | $71.6M | $41.0M |
毛利率AHTIPAR
| Q4 25 | — | 61.5% | ||
| Q3 25 | — | 63.5% | ||
| Q2 25 | — | 66.2% | ||
| Q1 25 | — | 63.7% | ||
| Q4 24 | — | 64.5% | ||
| Q3 24 | — | 63.9% | ||
| Q2 24 | — | 64.5% | ||
| Q1 24 | — | 62.5% |
营业利润率AHTIPAR
| Q4 25 | -2.6% | 7.1% | ||
| Q3 25 | 4.6% | 25.3% | ||
| Q2 25 | 16.3% | 17.7% | ||
| Q1 25 | 22.2% | 22.2% | ||
| Q4 24 | -17.8% | 10.0% | ||
| Q3 24 | 7.3% | 25.0% | ||
| Q2 24 | 42.8% | 18.9% | ||
| Q1 24 | 50.2% | 21.0% |
净利率AHTIPAR
| Q4 25 | -26.8% | 7.3% | ||
| Q3 25 | -22.6% | 15.3% | ||
| Q2 25 | -10.1% | 9.6% | ||
| Q1 25 | -7.2% | 12.5% | ||
| Q4 24 | -45.1% | 6.7% | ||
| Q3 24 | -20.9% | 14.7% | ||
| Q2 24 | 15.9% | 10.8% | ||
| Q1 24 | 23.5% | 12.7% |
每股收益（稀释后）AHTIPAR
| Q4 25 | $-12.85 | $0.88 | ||
| Q3 25 | $-11.35 | $2.05 | ||
| Q2 25 | $-6.88 | $0.99 | ||
| Q1 25 | $-4.91 | $1.32 | ||
| Q4 24 | $-13.64 | $0.78 | ||
| Q3 24 | $-12.39 | $1.93 | ||
| Q2 24 | $2.50 | $1.14 | ||
| Q1 24 | $5.99 | $1.27 |
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 | $137.1M |
| 总债务越低越好 | $2.5B | $176.0M |
| 股东权益账面价值 | $-626.4M | $880.7M |
| 总资产 | $2.8B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.20× |
8季度趋势，按日历期对齐
现金及短期投资AHTIPAR
| Q4 25 | $66.1M | $137.1M | ||
| Q3 25 | $81.9M | $77.5M | ||
| Q2 25 | $100.0M | $53.9M | ||
| Q1 25 | $85.8M | $75.3M | ||
| Q4 24 | $112.9M | $109.3M | ||
| Q3 24 | $119.7M | $78.8M | ||
| Q2 24 | $121.8M | $37.7M | ||
| Q1 24 | $111.1M | $76.1M |
总债务AHTIPAR
| Q4 25 | $2.5B | $176.0M | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.6B | $157.3M | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $2.9B | — |
股东权益AHTIPAR
| Q4 25 | $-626.4M | $880.7M | ||
| Q3 25 | $-548.7M | $870.9M | ||
| Q2 25 | $-485.5M | $839.4M | ||
| Q1 25 | $-446.1M | $788.6M | ||
| Q4 24 | $-419.2M | $744.9M | ||
| Q3 24 | $-288.4M | $778.5M | ||
| Q2 24 | $-225.9M | $717.1M | ||
| Q1 24 | $-276.8M | $708.1M |
总资产AHTIPAR
| Q4 25 | $2.8B | $1.6B | ||
| Q3 25 | $3.0B | $1.6B | ||
| Q2 25 | $3.1B | $1.6B | ||
| Q1 25 | $3.1B | $1.4B | ||
| Q4 24 | $3.2B | $1.4B | ||
| Q3 24 | $3.3B | $1.5B | ||
| Q2 24 | $3.3B | $1.4B | ||
| Q1 24 | $3.5B | $1.3B |
负债/权益比AHTIPAR
| Q4 25 | — | 0.20× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | $146.5M |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | $145.0M |
| 自由现金流率自由现金流/营收 | -33.5% | 37.5% |
| 资本支出强度资本支出/营收 | 27.5% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 5.21× |
| 过去12个月自由现金流最近4个季度 | $-135.5M | $190.5M |
8季度趋势，按日历期对齐
经营现金流AHTIPAR
| Q4 25 | $-15.7M | $146.5M | ||
| Q3 25 | $5.5M | $63.9M | ||
| Q2 25 | $16.3M | $11.9M | ||
| Q1 25 | $-25.0M | $-7.4M | ||
| Q4 24 | $-23.6M | $138.0M | ||
| Q3 24 | $795.0K | $76.1M | ||
| Q2 24 | $8.0M | $25.5M | ||
| Q1 24 | $-46.5M | $-52.0M |
自由现金流AHTIPAR
| Q4 25 | $-86.8M | $145.0M | ||
| Q3 25 | $-226.0K | $57.6M | ||
| Q2 25 | $-3.6M | $-3.3M | ||
| Q1 25 | $-44.8M | $-8.8M | ||
| Q4 24 | $-131.6M | $136.1M | ||
| Q3 24 | $-21.8M | $75.4M | ||
| Q2 24 | $-22.9M | $24.4M | ||
| Q1 24 | $-80.4M | $-53.0M |
自由现金流率AHTIPAR
| Q4 25 | -33.5% | 37.5% | ||
| Q3 25 | -0.1% | 13.4% | ||
| Q2 25 | -1.2% | -1.0% | ||
| Q1 25 | -16.2% | -2.6% | ||
| Q4 24 | -47.8% | 37.7% | ||
| Q3 24 | -7.9% | 17.8% | ||
| Q2 24 | -7.2% | 7.1% | ||
| Q1 24 | -26.5% | -16.4% |
资本支出强度AHTIPAR
| Q4 25 | 27.5% | 0.4% | ||
| Q3 25 | 2.1% | 1.5% | ||
| Q2 25 | 6.6% | 4.5% | ||
| Q1 25 | 7.2% | 0.4% | ||
| Q4 24 | 39.2% | 0.5% | ||
| Q3 24 | 8.2% | 0.2% | ||
| Q2 24 | 9.8% | 0.3% | ||
| Q1 24 | 11.2% | 0.3% |
现金转化率AHTIPAR
| Q4 25 | — | 5.21× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | -0.17× | ||
| Q4 24 | — | 5.69× | ||
| Q3 24 | — | 1.22× | ||
| Q2 24 | 0.16× | 0.69× | ||
| Q1 24 | -0.65× | -1.27× |
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% |
IPAR
| European Based Operations | $232.7M | 60% |
| United States Based Operations | $155.2M | 40% |
