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ASHFORD HOSPITALITY TRUST INC（AHT）与Limbach Holdings, Inc.（LMB）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Limbach Holdings, Inc.的1.9倍（$259.0M vs $138.9M），Limbach Holdings, Inc.净利率更高（3.2% vs -26.8%，领先29.9%），Limbach Holdings, Inc.同比增速更快（4.3% vs -6.0%），过去两年Limbach Holdings, Inc.的营收复合增速更高（6.6% 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。
林巴赫航空发动机是一家由中资控股、总部位于德国的企业，主营航空发动机的研发与制造业务，在航空动力装备领域拥有成熟的生产技术与行业经验。
AHT vs LMB — 直观对比
营收规模更大
AHT
是对方的1.9倍
$138.9M
营收增速更快
LMB
高出10.3%
-6.0%
净利率更高
LMB
高出29.9%
-26.8%
两年增速更快
LMB
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $138.9M |
| 净利润 | $-69.3M | $4.4M |
| 毛利率 | — | 22.4% |
| 营业利润率 | -2.6% | 0.8% |
| 净利率 | -26.8% | 3.2% |
| 营收同比 | -6.0% | 4.3% |
| 净利润同比 | 44.2% | — |
| 每股收益（稀释后） | $-12.85 | $0.36 |
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AHTLMB
| Q1 26 | — | $138.9M | ||
| Q4 25 | $259.0M | $186.9M | ||
| Q3 25 | $266.1M | $184.6M | ||
| Q2 25 | $302.0M | $142.2M | ||
| Q1 25 | $277.4M | $133.1M | ||
| Q4 24 | $275.5M | $143.7M | ||
| Q3 24 | $276.6M | $133.9M | ||
| Q2 24 | $316.5M | $122.2M |
净利润AHTLMB
| Q1 26 | — | $4.4M | ||
| Q4 25 | $-69.3M | $12.3M | ||
| Q3 25 | $-60.1M | $8.8M | ||
| Q2 25 | $-30.4M | $7.8M | ||
| Q1 25 | $-20.0M | $10.2M | ||
| Q4 24 | $-124.2M | $9.8M | ||
| Q3 24 | $-57.9M | $7.5M | ||
| Q2 24 | $50.3M | $6.0M |
毛利率AHTLMB
| Q1 26 | — | 22.4% | ||
| Q4 25 | — | 25.7% | ||
| Q3 25 | — | 24.2% | ||
| Q2 25 | — | 28.0% | ||
| Q1 25 | — | 27.6% | ||
| Q4 24 | — | 30.3% | ||
| Q3 24 | — | 27.0% | ||
| Q2 24 | — | 27.4% |
营业利润率AHTLMB
| Q1 26 | — | 0.8% | ||
| Q4 25 | -2.6% | 9.4% | ||
| Q3 25 | 4.6% | 7.2% | ||
| Q2 25 | 16.3% | 7.5% | ||
| Q1 25 | 22.2% | 5.9% | ||
| Q4 24 | -17.8% | 9.1% | ||
| Q3 24 | 7.3% | 8.1% | ||
| Q2 24 | 42.8% | 6.7% |
净利率AHTLMB
| Q1 26 | — | 3.2% | ||
| Q4 25 | -26.8% | 6.6% | ||
| Q3 25 | -22.6% | 4.8% | ||
| Q2 25 | -10.1% | 5.5% | ||
| Q1 25 | -7.2% | 7.7% | ||
| Q4 24 | -45.1% | 6.9% | ||
| Q3 24 | -20.9% | 5.6% | ||
| Q2 24 | 15.9% | 4.9% |
每股收益（稀释后）AHTLMB
| Q1 26 | — | $0.36 | ||
| Q4 25 | $-12.85 | $1.01 | ||
| Q3 25 | $-11.35 | $0.73 | ||
| Q2 25 | $-6.88 | $0.64 | ||
| Q1 25 | $-4.91 | $0.85 | ||
| Q4 24 | $-13.64 | $0.81 | ||
| Q3 24 | $-12.39 | $0.62 | ||
| Q2 24 | $2.50 | $0.50 |
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 | $15.8M |
| 总债务越低越好 | $2.5B | $56.6M |
| 股东权益账面价值 | $-626.4M | $196.3M |
| 总资产 | $2.8B | $377.0M |
| 负债/权益比越低杠杆越低 | — | 0.29× |
8季度趋势，按日历期对齐
现金及短期投资AHTLMB
| Q1 26 | — | $15.8M | ||
| Q4 25 | $66.1M | $11.3M | ||
| Q3 25 | $81.9M | $9.8M | ||
| Q2 25 | $100.0M | $38.9M | ||
| Q1 25 | $85.8M | $38.1M | ||
| Q4 24 | $112.9M | $44.9M | ||
| Q3 24 | $119.7M | $51.2M | ||
| Q2 24 | $121.8M | $59.5M |
总债务AHTLMB
| Q1 26 | — | $56.6M | ||
| Q4 25 | $2.5B | $30.5M | ||
| Q3 25 | $2.6B | $56.3M | ||
| Q2 25 | $2.6B | $28.4M | ||
| Q1 25 | $2.7B | $23.7M | ||
| Q4 24 | $2.6B | $23.6M | ||
| Q3 24 | $2.7B | $20.5M | ||
| Q2 24 | $2.8B | $19.7M |
股东权益AHTLMB
| Q1 26 | — | $196.3M | ||
| Q4 25 | $-626.4M | $195.7M | ||
| Q3 25 | $-548.7M | $181.6M | ||
| Q2 25 | $-485.5M | $170.5M | ||
| Q1 25 | $-446.1M | $161.1M | ||
| Q4 24 | $-419.2M | $153.5M | ||
| Q3 24 | $-288.4M | $142.2M | ||
| Q2 24 | $-225.9M | $133.0M |
总资产AHTLMB
| Q1 26 | — | $377.0M | ||
| Q4 25 | $2.8B | $381.1M | ||
| Q3 25 | $3.0B | $409.1M | ||
| Q2 25 | $3.1B | $343.0M | ||
| Q1 25 | $3.1B | $336.4M | ||
| Q4 24 | $3.2B | $352.1M | ||
| Q3 24 | $3.3B | $324.4M | ||
| Q2 24 | $3.3B | $303.9M |
负债/权益比AHTLMB
| Q1 26 | — | 0.29× | ||
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.15× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× |
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% | — |
| 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AHTLMB
| Q1 26 | — | — | ||
| Q4 25 | $-15.7M | $28.1M | ||
| Q3 25 | $5.5M | $13.3M | ||
| Q2 25 | $16.3M | $2.0M | ||
| Q1 25 | $-25.0M | $2.2M | ||
| Q4 24 | $-23.6M | $19.3M | ||
| Q3 24 | $795.0K | $4.9M | ||
| Q2 24 | $8.0M | $16.5M |
自由现金流AHTLMB
| Q1 26 | — | — | ||
| Q4 25 | $-86.8M | $27.9M | ||
| Q3 25 | $-226.0K | $12.8M | ||
| Q2 25 | $-3.6M | $1.2M | ||
| Q1 25 | $-44.8M | $11.0K | ||
| Q4 24 | $-131.6M | $18.0M | ||
| Q3 24 | $-21.8M | $4.6M | ||
| Q2 24 | $-22.9M | $13.2M |
自由现金流率AHTLMB
| Q1 26 | — | — | ||
| Q4 25 | -33.5% | 14.9% | ||
| Q3 25 | -0.1% | 7.0% | ||
| Q2 25 | -1.2% | 0.8% | ||
| Q1 25 | -16.2% | 0.0% | ||
| Q4 24 | -47.8% | 12.5% | ||
| Q3 24 | -7.9% | 3.4% | ||
| Q2 24 | -7.2% | 10.8% |
资本支出强度AHTLMB
| Q1 26 | — | — | ||
| Q4 25 | 27.5% | 0.1% | ||
| Q3 25 | 2.1% | 0.3% | ||
| Q2 25 | 6.6% | 0.6% | ||
| Q1 25 | 7.2% | 1.7% | ||
| Q4 24 | 39.2% | 0.9% | ||
| Q3 24 | 8.2% | 0.3% | ||
| Q2 24 | 9.8% | 2.7% |
现金转化率AHTLMB
| Q1 26 | — | — | ||
| Q4 25 | — | 2.29× | ||
| Q3 25 | — | 1.52× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.22× | ||
| Q4 24 | — | 1.96× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | 0.16× | 2.77× |
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% |
LMB
| ODR | $99.8M | 72% |
| GCR | $39.0M | 28% |
