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ASHFORD HOSPITALITY TRUST INC（AHT）与Mativ Holdings, Inc.（MATV）财务数据对比。点击上方公司名可切换其他公司
Mativ Holdings, Inc.的季度营收约是ASHFORD HOSPITALITY TRUST INC的1.8倍（$463.1M vs $259.0M），Mativ Holdings, Inc.净利率更高（21.8% vs -26.8%，领先48.5%），Mativ Holdings, Inc.同比增速更快（1.0% vs -6.0%），Mativ Holdings, Inc.自由现金流更多（$8.0M vs $-86.8M），过去两年Mativ Holdings, Inc.的营收复合增速更高（-3.8% 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。
Mativ Holdings是一家全球特种材料制造商，主要生产高性能先进聚合物、无纺布、过滤解决方案及功能性涂层材料，服务医疗、工业、消费品、航空航天、能源等领域，业务遍及北美、欧洲及亚太地区。
AHT vs MATV — 直观对比
营收规模更大
MATV
是对方的1.8倍
$259.0M
营收增速更快
MATV
高出7.0%
-6.0%
净利率更高
MATV
高出48.5%
-26.8%
自由现金流更多
MATV
多$94.8M
$-86.8M
两年增速更快
MATV
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $463.1M |
| 净利润 | $-69.3M | $100.8M |
| 毛利率 | — | 18.8% |
| 营业利润率 | -2.6% | 2.2% |
| 净利率 | -26.8% | 21.8% |
| 营收同比 | -6.0% | 1.0% |
| 净利润同比 | 44.2% | 6620.0% |
| 每股收益（稀释后） | $-12.85 | $1.87 |
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AHTMATV
| Q4 25 | $259.0M | $463.1M | ||
| Q3 25 | $266.1M | $513.7M | ||
| Q2 25 | $302.0M | $525.4M | ||
| Q1 25 | $277.4M | $484.8M | ||
| Q4 24 | $275.5M | $458.6M | ||
| Q3 24 | $276.6M | $498.5M | ||
| Q2 24 | $316.5M | $523.8M | ||
| Q1 24 | $303.9M | $500.2M |
净利润AHTMATV
| Q4 25 | $-69.3M | $100.8M | ||
| Q3 25 | $-60.1M | $-3.2M | ||
| Q2 25 | $-30.4M | $-9.5M | ||
| Q1 25 | $-20.0M | $-425.5M | ||
| Q4 24 | $-124.2M | $1.5M | ||
| Q3 24 | $-57.9M | $-20.8M | ||
| Q2 24 | $50.3M | $-1.4M | ||
| Q1 24 | $71.6M | $-28.0M |
毛利率AHTMATV
| Q4 25 | — | 18.8% | ||
| Q3 25 | — | 19.3% | ||
| Q2 25 | — | 19.7% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | — | 18.8% | ||
| Q2 24 | — | 20.8% | ||
| Q1 24 | — | 16.8% |
营业利润率AHTMATV
| Q4 25 | -2.6% | 2.2% | ||
| Q3 25 | 4.6% | 3.1% | ||
| Q2 25 | 16.3% | 3.8% | ||
| Q1 25 | 22.2% | -88.8% | ||
| Q4 24 | -17.8% | 0.6% | ||
| Q3 24 | 7.3% | 1.4% | ||
| Q2 24 | 42.8% | 2.0% | ||
| Q1 24 | 50.2% | -2.8% |
净利率AHTMATV
| Q4 25 | -26.8% | 21.8% | ||
| Q3 25 | -22.6% | -0.6% | ||
| Q2 25 | -10.1% | -1.8% | ||
| Q1 25 | -7.2% | -87.8% | ||
| Q4 24 | -45.1% | 0.3% | ||
| Q3 24 | -20.9% | -4.2% | ||
| Q2 24 | 15.9% | -0.3% | ||
| Q1 24 | 23.5% | -5.6% |
每股收益（稀释后）AHTMATV
| Q4 25 | $-12.85 | $1.87 | ||
| Q3 25 | $-11.35 | $-0.06 | ||
| Q2 25 | $-6.88 | $-0.18 | ||
| Q1 25 | $-4.91 | $-7.82 | ||
| Q4 24 | $-13.64 | $0.03 | ||
| Q3 24 | $-12.39 | $-0.38 | ||
| Q2 24 | $2.50 | $-0.03 | ||
| Q1 24 | $5.99 | $-0.52 |
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 | $84.2M |
| 总债务越低越好 | $2.5B | $1.0B |
| 股东权益账面价值 | $-626.4M | $498.7M |
| 总资产 | $2.8B | $2.1B |
| 负债/权益比越低杠杆越低 | — | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资AHTMATV
| Q4 25 | $66.1M | $84.2M | ||
| Q3 25 | $81.9M | $97.1M | ||
| Q2 25 | $100.0M | $95.6M | ||
| Q1 25 | $85.8M | $84.0M | ||
| Q4 24 | $112.9M | $94.3M | ||
| Q3 24 | $119.7M | $162.2M | ||
| Q2 24 | $121.8M | $133.4M | ||
| Q1 24 | $111.1M | $128.9M |
总债务AHTMATV
| Q4 25 | $2.5B | $1.0B | ||
| Q3 25 | $2.6B | $1.0B | ||
| Q2 25 | $2.6B | $1.1B | ||
| Q1 25 | $2.7B | $1.1B | ||
| Q4 24 | $2.6B | $1.1B | ||
| Q3 24 | $2.7B | $1.2B | ||
| Q2 24 | $2.8B | $1.2B | ||
| Q1 24 | $2.9B | $1.2B |
股东权益AHTMATV
| Q4 25 | $-626.4M | $498.7M | ||
| Q3 25 | $-548.7M | $397.4M | ||
| Q2 25 | $-485.5M | $416.6M | ||
| Q1 25 | $-446.1M | $428.2M | ||
| Q4 24 | $-419.2M | $858.5M | ||
| Q3 24 | $-288.4M | $882.3M | ||
| Q2 24 | $-225.9M | $898.0M | ||
| Q1 24 | $-276.8M | $906.9M |
总资产AHTMATV
| Q4 25 | $2.8B | $2.1B | ||
| Q3 25 | $3.0B | $2.0B | ||
| Q2 25 | $3.1B | $2.1B | ||
| Q1 25 | $3.1B | $2.1B | ||
| Q4 24 | $3.2B | $2.4B | ||
| Q3 24 | $3.3B | $2.6B | ||
| Q2 24 | $3.3B | $2.6B | ||
| Q1 24 | $3.5B | $2.7B |
负债/权益比AHTMATV
| Q4 25 | — | 2.07× | ||
| Q3 25 | — | 2.63× | ||
| Q2 25 | — | 2.66× | ||
| Q1 25 | — | 2.67× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | — | 1.32× | ||
| Q2 24 | — | 1.29× | ||
| Q1 24 | — | 1.30× |
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 | $19.3M |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | $8.0M |
| 自由现金流率自由现金流/营收 | -33.5% | 1.7% |
| 资本支出强度资本支出/营收 | 27.5% | 2.4% |
| 现金转化率经营现金流/净利润 | — | 0.19× |
| 过去12个月自由现金流最近4个季度 | $-135.5M | $93.8M |
8季度趋势，按日历期对齐
经营现金流AHTMATV
| Q4 25 | $-15.7M | $19.3M | ||
| Q3 25 | $5.5M | $72.8M | ||
| Q2 25 | $16.3M | $57.6M | ||
| Q1 25 | $-25.0M | $-15.9M | ||
| Q4 24 | $-23.6M | $24.1M | ||
| Q3 24 | $795.0K | $37.6M | ||
| Q2 24 | $8.0M | $46.1M | ||
| Q1 24 | $-46.5M | $-13.0M |
自由现金流AHTMATV
| Q4 25 | $-86.8M | $8.0M | ||
| Q3 25 | $-226.0K | $66.7M | ||
| Q2 25 | $-3.6M | $48.9M | ||
| Q1 25 | $-44.8M | $-29.8M | ||
| Q4 24 | $-131.6M | $2.0M | ||
| Q3 24 | $-21.8M | $25.5M | ||
| Q2 24 | $-22.9M | $37.4M | ||
| Q1 24 | $-80.4M | $-25.1M |
自由现金流率AHTMATV
| Q4 25 | -33.5% | 1.7% | ||
| Q3 25 | -0.1% | 13.0% | ||
| Q2 25 | -1.2% | 9.3% | ||
| Q1 25 | -16.2% | -6.1% | ||
| Q4 24 | -47.8% | 0.4% | ||
| Q3 24 | -7.9% | 5.1% | ||
| Q2 24 | -7.2% | 7.1% | ||
| Q1 24 | -26.5% | -5.0% |
资本支出强度AHTMATV
| Q4 25 | 27.5% | 2.4% | ||
| Q3 25 | 2.1% | 1.2% | ||
| Q2 25 | 6.6% | 1.7% | ||
| Q1 25 | 7.2% | 2.9% | ||
| Q4 24 | 39.2% | 4.8% | ||
| Q3 24 | 8.2% | 2.4% | ||
| Q2 24 | 9.8% | 1.7% | ||
| Q1 24 | 11.2% | 2.4% |
现金转化率AHTMATV
| Q4 25 | — | 0.19× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 16.07× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.16× | — | ||
| 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% |
MATV
| Other | $208.7M | 45% |
| SAS Segment | $157.4M | 34% |
| FAM Segment | $97.0M | 21% |
