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ASHFORD HOSPITALITY TRUST INC（AHT）与铱星通信（IRDM）财务数据对比。点击上方公司名可切换其他公司
ASHFORD HOSPITALITY TRUST INC的季度营收约是铱星通信的1.2倍（$259.0M vs $219.1M），铱星通信净利率更高（9.9% vs -26.8%，领先36.6%），铱星通信同比增速更快（1.9% vs -6.0%），过去两年铱星通信的营收复合增速更高（4.4% 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。
铱星通信是一家总部位于美国弗吉尼亚州麦克莱恩的上市企业，运营着由80颗卫星组成的铱星星座，其中66颗为工作星，14颗为在轨备用星。其卫星网络支持手持卫星电话、卫星通信终端及集成收发设备实现全球范围的语音和数据传输，还可提供双向卫星消息服务，满足全球各场景的通信需求。
AHT vs IRDM — 直观对比
营收规模更大
AHT
是对方的1.2倍
$219.1M
营收增速更快
IRDM
高出7.9%
-6.0%
净利率更高
IRDM
高出36.6%
-26.8%
两年增速更快
IRDM
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $219.1M |
| 净利润 | $-69.3M | $21.6M |
| 毛利率 | — | — |
| 营业利润率 | -2.6% | 23.2% |
| 净利率 | -26.8% | 9.9% |
| 营收同比 | -6.0% | 1.9% |
| 净利润同比 | 44.2% | — |
| 每股收益（稀释后） | $-12.85 | — |
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AHTIRDM
| Q1 26 | — | $219.1M | ||
| Q4 25 | $259.0M | $212.9M | ||
| Q3 25 | $266.1M | $226.9M | ||
| Q2 25 | $302.0M | $216.9M | ||
| Q1 25 | $277.4M | $214.9M | ||
| Q4 24 | $275.5M | $213.0M | ||
| Q3 24 | $276.6M | $212.8M | ||
| Q2 24 | $316.5M | $201.1M |
净利润AHTIRDM
| Q1 26 | — | $21.6M | ||
| Q4 25 | $-69.3M | $24.9M | ||
| Q3 25 | $-60.1M | $37.1M | ||
| Q2 25 | $-30.4M | $22.0M | ||
| Q1 25 | $-20.0M | $30.4M | ||
| Q4 24 | $-124.2M | $36.3M | ||
| Q3 24 | $-57.9M | $24.4M | ||
| Q2 24 | $50.3M | $32.3M |
营业利润率AHTIRDM
| Q1 26 | — | 23.2% | ||
| Q4 25 | -2.6% | 25.9% | ||
| Q3 25 | 4.6% | 30.9% | ||
| Q2 25 | 16.3% | 23.2% | ||
| Q1 25 | 22.2% | 28.1% | ||
| Q4 24 | -17.8% | 24.5% | ||
| Q3 24 | 7.3% | 25.8% | ||
| Q2 24 | 42.8% | 21.7% |
净利率AHTIRDM
| Q1 26 | — | 9.9% | ||
| Q4 25 | -26.8% | 11.7% | ||
| Q3 25 | -22.6% | 16.4% | ||
| Q2 25 | -10.1% | 10.1% | ||
| Q1 25 | -7.2% | 14.2% | ||
| Q4 24 | -45.1% | 17.1% | ||
| Q3 24 | -20.9% | 11.5% | ||
| Q2 24 | 15.9% | 16.1% |
每股收益（稀释后）AHTIRDM
| Q1 26 | — | — | ||
| Q4 25 | $-12.85 | $0.24 | ||
| Q3 25 | $-11.35 | $0.35 | ||
| Q2 25 | $-6.88 | $0.20 | ||
| Q1 25 | $-4.91 | $0.27 | ||
| Q4 24 | $-13.64 | $0.30 | ||
| Q3 24 | $-12.39 | $0.21 | ||
| Q2 24 | $2.50 | $0.27 |
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 | — |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $-626.4M | — |
| 总资产 | $2.8B | — |
| 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AHTIRDM
| Q1 26 | — | — | ||
| Q4 25 | $66.1M | $96.5M | ||
| Q3 25 | $81.9M | $88.5M | ||
| Q2 25 | $100.0M | $79.3M | ||
| Q1 25 | $85.8M | $50.9M | ||
| Q4 24 | $112.9M | $93.5M | ||
| Q3 24 | $119.7M | $159.6M | ||
| Q2 24 | $121.8M | $63.5M |
总债务AHTIRDM
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $1.8B | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.6B | $1.8B | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — |
股东权益AHTIRDM
| Q1 26 | — | — | ||
| Q4 25 | $-626.4M | $462.6M | ||
| Q3 25 | $-548.7M | $450.5M | ||
| Q2 25 | $-485.5M | $473.6M | ||
| Q1 25 | $-446.1M | $518.4M | ||
| Q4 24 | $-419.2M | $576.6M | ||
| Q3 24 | $-288.4M | $663.8M | ||
| Q2 24 | $-225.9M | $786.7M |
总资产AHTIRDM
| Q1 26 | — | — | ||
| Q4 25 | $2.8B | $2.5B | ||
| Q3 25 | $3.0B | $2.6B | ||
| Q2 25 | $3.1B | $2.6B | ||
| Q1 25 | $3.1B | $2.6B | ||
| Q4 24 | $3.2B | $2.7B | ||
| Q3 24 | $3.3B | $2.8B | ||
| Q2 24 | $3.3B | $2.7B |
负债/权益比AHTIRDM
| Q1 26 | — | — | ||
| Q4 25 | — | 3.80× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.05× | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | — |
| 自由现金流率自由现金流/营收 | -33.5% | — |
| 资本支出强度资本支出/营收 | 27.5% | 13.7% |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流AHTIRDM
| Q1 26 | — | — | ||
| Q4 25 | $-15.7M | $108.6M | ||
| Q3 25 | $5.5M | $100.8M | ||
| Q2 25 | $16.3M | $129.6M | ||
| Q1 25 | $-25.0M | $61.1M | ||
| Q4 24 | $-23.6M | $104.8M | ||
| Q3 24 | $795.0K | $118.6M | ||
| Q2 24 | $8.0M | $81.1M |
自由现金流AHTIRDM
| Q1 26 | — | — | ||
| Q4 25 | $-86.8M | $75.1M | ||
| Q3 25 | $-226.0K | $79.2M | ||
| Q2 25 | $-3.6M | $108.9M | ||
| Q1 25 | $-44.8M | $36.5M | ||
| Q4 24 | $-131.6M | $80.5M | ||
| Q3 24 | $-21.8M | $100.0M | ||
| Q2 24 | $-22.9M | $68.7M |
自由现金流率AHTIRDM
| Q1 26 | — | — | ||
| Q4 25 | -33.5% | 35.3% | ||
| Q3 25 | -0.1% | 34.9% | ||
| Q2 25 | -1.2% | 50.2% | ||
| Q1 25 | -16.2% | 17.0% | ||
| Q4 24 | -47.8% | 37.8% | ||
| Q3 24 | -7.9% | 47.0% | ||
| Q2 24 | -7.2% | 34.2% |
资本支出强度AHTIRDM
| Q1 26 | — | 13.7% | ||
| Q4 25 | 27.5% | 15.7% | ||
| Q3 25 | 2.1% | 9.5% | ||
| Q2 25 | 6.6% | 9.5% | ||
| Q1 25 | 7.2% | 11.4% | ||
| Q4 24 | 39.2% | 11.4% | ||
| Q3 24 | 8.2% | 8.7% | ||
| Q2 24 | 9.8% | 6.2% |
现金转化率AHTIRDM
| Q1 26 | — | — | ||
| Q4 25 | — | 4.37× | ||
| Q3 25 | — | 2.71× | ||
| Q2 25 | — | 5.90× | ||
| Q1 25 | — | 2.01× | ||
| Q4 24 | — | 2.88× | ||
| Q3 24 | — | 4.85× | ||
| Q2 24 | 0.16× | 2.51× |
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% |
IRDM
| Voice and data | $57.4M | 26% |
| IoT data (2) | $46.0M | 21% |
| Government | $39.5M | 18% |
| Government service revenue (5) | $27.6M | 13% |
| Subscriber equipment | $20.2M | 9% |
| Hosted payload and other data service (4) | $14.8M | 7% |
| Broadband (3) | $12.2M | 6% |
| Commercial | $1.3M | 1% |
