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ASHFORD HOSPITALITY TRUST INC（AHT）与J&J SNACK FOODS CORP（JJSF）财务数据对比。点击上方公司名可切换其他公司
J&J SNACK FOODS CORP的季度营收约是ASHFORD HOSPITALITY TRUST INC的1.3倍（$343.8M vs $259.0M），J&J SNACK FOODS CORP净利率更高（0.3% vs -26.8%，领先27.0%），J&J SNACK FOODS CORP同比增速更快（-5.2% vs -6.0%），J&J SNACK FOODS CORP自由现金流更多（$17.0M vs $-86.8M），过去两年J&J SNACK FOODS CORP的营收复合增速更高（-2.2% 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。
强生休闲食品公司（J&J Snack Foods Corp.）是美国知名的品牌休闲食品与冷冻饮品生产商、营销商及分销商，总部位于新泽西州芒特劳雷尔，在全美44个州、墨西哥及加拿大设有超175个生产、仓储及配送设施，于纳斯达克全球精选市场上市，业务覆盖国内外市场。
AHT vs JJSF — 直观对比
营收规模更大
JJSF
是对方的1.3倍
$259.0M
营收增速更快
JJSF
高出0.8%
-6.0%
净利率更高
JJSF
高出27.0%
-26.8%
自由现金流更多
JJSF
多$103.8M
$-86.8M
两年增速更快
JJSF
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $343.8M |
| 净利润 | $-69.3M | $883.0K |
| 毛利率 | — | 27.9% |
| 营业利润率 | -2.6% | 0.2% |
| 净利率 | -26.8% | 0.3% |
| 营收同比 | -6.0% | -5.2% |
| 净利润同比 | 44.2% | -82.8% |
| 每股收益（稀释后） | $-12.85 | $0.05 |
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AHTJJSF
| Q4 25 | $259.0M | $343.8M | ||
| Q3 25 | $266.1M | $410.2M | ||
| Q2 25 | $302.0M | $454.3M | ||
| Q1 25 | $277.4M | $356.1M | ||
| Q4 24 | $275.5M | $362.6M | ||
| Q3 24 | $276.6M | $426.8M | ||
| Q2 24 | $316.5M | $440.0M | ||
| Q1 24 | $303.9M | $359.7M |
净利润AHTJJSF
| Q4 25 | $-69.3M | $883.0K | ||
| Q3 25 | $-60.1M | $11.4M | ||
| Q2 25 | $-30.4M | $44.2M | ||
| Q1 25 | $-20.0M | $4.8M | ||
| Q4 24 | $-124.2M | $5.1M | ||
| Q3 24 | $-57.9M | $29.6M | ||
| Q2 24 | $50.3M | $36.3M | ||
| Q1 24 | $71.6M | $13.3M |
毛利率AHTJJSF
| Q4 25 | — | 27.9% | ||
| Q3 25 | — | 31.7% | ||
| Q2 25 | — | 33.0% | ||
| Q1 25 | — | 26.9% | ||
| Q4 24 | — | 25.9% | ||
| Q3 24 | — | 31.8% | ||
| Q2 24 | — | 33.6% | ||
| Q1 24 | — | 30.1% |
营业利润率AHTJJSF
| Q4 25 | -2.6% | 0.2% | ||
| Q3 25 | 4.6% | 2.8% | ||
| Q2 25 | 16.3% | 13.3% | ||
| Q1 25 | 22.2% | 1.7% | ||
| Q4 24 | -17.8% | 1.7% | ||
| Q3 24 | 7.3% | 9.3% | ||
| Q2 24 | 42.8% | 11.4% | ||
| Q1 24 | 50.2% | 5.0% |
净利率AHTJJSF
| Q4 25 | -26.8% | 0.3% | ||
| Q3 25 | -22.6% | 2.8% | ||
| Q2 25 | -10.1% | 9.7% | ||
| Q1 25 | -7.2% | 1.4% | ||
| Q4 24 | -45.1% | 1.4% | ||
| Q3 24 | -20.9% | 6.9% | ||
| Q2 24 | 15.9% | 8.3% | ||
| Q1 24 | 23.5% | 3.7% |
每股收益（稀释后）AHTJJSF
| Q4 25 | $-12.85 | $0.05 | ||
| Q3 25 | $-11.35 | $0.59 | ||
| Q2 25 | $-6.88 | $2.26 | ||
| Q1 25 | $-4.91 | $0.25 | ||
| Q4 24 | $-13.64 | $0.26 | ||
| Q3 24 | $-12.39 | $1.52 | ||
| Q2 24 | $2.50 | $1.87 | ||
| Q1 24 | $5.99 | $0.69 |
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 | $66.8M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $-626.4M | $912.9M |
| 总资产 | $2.8B | $1.3B |
| 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AHTJJSF
| Q4 25 | $66.1M | $66.8M | ||
| Q3 25 | $81.9M | $105.9M | ||
| Q2 25 | $100.0M | $77.4M | ||
| Q1 25 | $85.8M | $48.5M | ||
| Q4 24 | $112.9M | $73.6M | ||
| Q3 24 | $119.7M | $73.4M | ||
| Q2 24 | $121.8M | $64.0M | ||
| Q1 24 | $111.1M | $43.6M |
总债务AHTJJSF
| 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 | — |
股东权益AHTJJSF
| Q4 25 | $-626.4M | $912.9M | ||
| Q3 25 | $-548.7M | $966.7M | ||
| Q2 25 | $-485.5M | $969.9M | ||
| Q1 25 | $-446.1M | $935.0M | ||
| Q4 24 | $-419.2M | $946.8M | ||
| Q3 24 | $-288.4M | $957.0M | ||
| Q2 24 | $-225.9M | $937.9M | ||
| Q1 24 | $-276.8M | $915.7M |
总资产AHTJJSF
| Q4 25 | $2.8B | $1.3B | ||
| Q3 25 | $3.0B | $1.4B | ||
| Q2 25 | $3.1B | $1.4B | ||
| Q1 25 | $3.1B | $1.4B | ||
| Q4 24 | $3.2B | $1.3B | ||
| Q3 24 | $3.3B | $1.4B | ||
| Q2 24 | $3.3B | $1.4B | ||
| Q1 24 | $3.5B | $1.3B |
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 | $36.0M |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | $17.0M |
| 自由现金流率自由现金流/营收 | -33.5% | 4.9% |
| 资本支出强度资本支出/营收 | 27.5% | 5.5% |
| 现金转化率经营现金流/净利润 | — | 40.73× |
| 过去12个月自由现金流最近4个季度 | $-135.5M | $83.1M |
8季度趋势，按日历期对齐
经营现金流AHTJJSF
| Q4 25 | $-15.7M | $36.0M | ||
| Q3 25 | $5.5M | $66.4M | ||
| Q2 25 | $16.3M | $51.2M | ||
| Q1 25 | $-25.0M | $12.3M | ||
| Q4 24 | $-23.6M | $35.2M | ||
| Q3 24 | $795.0K | $46.3M | ||
| Q2 24 | $8.0M | $65.0M | ||
| Q1 24 | $-46.5M | $12.7M |
自由现金流AHTJJSF
| Q4 25 | $-86.8M | $17.0M | ||
| Q3 25 | $-226.0K | $44.8M | ||
| Q2 25 | $-3.6M | $28.5M | ||
| Q1 25 | $-44.8M | $-7.2M | ||
| Q4 24 | $-131.6M | $16.1M | ||
| Q3 24 | $-21.8M | $29.1M | ||
| Q2 24 | $-22.9M | $45.3M | ||
| Q1 24 | $-80.4M | $-4.0M |
自由现金流率AHTJJSF
| Q4 25 | -33.5% | 4.9% | ||
| Q3 25 | -0.1% | 10.9% | ||
| Q2 25 | -1.2% | 6.3% | ||
| Q1 25 | -16.2% | -2.0% | ||
| Q4 24 | -47.8% | 4.4% | ||
| Q3 24 | -7.9% | 6.8% | ||
| Q2 24 | -7.2% | 10.3% | ||
| Q1 24 | -26.5% | -1.1% |
资本支出强度AHTJJSF
| Q4 25 | 27.5% | 5.5% | ||
| Q3 25 | 2.1% | 5.3% | ||
| Q2 25 | 6.6% | 5.0% | ||
| Q1 25 | 7.2% | 5.5% | ||
| Q4 24 | 39.2% | 5.3% | ||
| Q3 24 | 8.2% | 4.0% | ||
| Q2 24 | 9.8% | 4.5% | ||
| Q1 24 | 11.2% | 4.6% |
现金转化率AHTJJSF
| Q4 25 | — | 40.73× | ||
| Q3 25 | — | 5.84× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | 2.55× | ||
| Q4 24 | — | 6.84× | ||
| Q3 24 | — | 1.56× | ||
| Q2 24 | 0.16× | 1.79× | ||
| Q1 24 | -0.65× | 0.96× |
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% |
JJSF
| Food Service | $219.2M | 64% |
| Frozen Beverages | $78.7M | 23% |
| Repair And Maintenance Service | $22.5M | 7% |
| Other | $12.7M | 4% |
| Machine Sales | $10.7M | 3% |
