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ASHFORD HOSPITALITY TRUST INC（AHT）与ONESPAWORLD HOLDINGS Ltd（OSW）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ONESPAWORLD HOLDINGS Ltd的1.1倍（$259.0M vs $242.1M），ONESPAWORLD HOLDINGS Ltd净利率更高（5.0% vs -26.8%，领先31.8%），ONESPAWORLD HOLDINGS Ltd同比增速更快（11.5% vs -6.0%），ONESPAWORLD HOLDINGS Ltd自由现金流更多（$14.9M vs $-86.8M），过去两年ONESPAWORLD HOLDINGS Ltd的营收复合增速更高（7.1% 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。
AHT vs OSW — 直观对比
营收规模更大
AHT
是对方的1.1倍
$242.1M
营收增速更快
OSW
高出17.5%
-6.0%
净利率更高
OSW
高出31.8%
-26.8%
自由现金流更多
OSW
多$101.7M
$-86.8M
两年增速更快
OSW
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $242.1M |
| 净利润 | $-69.3M | $12.1M |
| 毛利率 | — | — |
| 营业利润率 | -2.6% | 6.8% |
| 净利率 | -26.8% | 5.0% |
| 营收同比 | -6.0% | 11.5% |
| 净利润同比 | 44.2% | -16.2% |
| 每股收益（稀释后） | $-12.85 | $0.12 |
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AHTOSW
| Q4 25 | $259.0M | $242.1M | ||
| Q3 25 | $266.1M | $258.5M | ||
| Q2 25 | $302.0M | $240.7M | ||
| Q1 25 | $277.4M | $219.6M | ||
| Q4 24 | $275.5M | $217.2M | ||
| Q3 24 | $276.6M | $241.7M | ||
| Q2 24 | $316.5M | $224.9M | ||
| Q1 24 | $303.9M | $211.2M |
净利润AHTOSW
| Q4 25 | $-69.3M | $12.1M | ||
| Q3 25 | $-60.1M | $24.3M | ||
| Q2 25 | $-30.4M | $19.9M | ||
| Q1 25 | $-20.0M | $15.3M | ||
| Q4 24 | $-124.2M | $14.4M | ||
| Q3 24 | $-57.9M | $21.6M | ||
| Q2 24 | $50.3M | $15.8M | ||
| Q1 24 | $71.6M | $21.2M |
营业利润率AHTOSW
| Q4 25 | -2.6% | 6.8% | ||
| Q3 25 | 4.6% | 10.2% | ||
| Q2 25 | 16.3% | 9.2% | ||
| Q1 25 | 22.2% | 7.7% | ||
| Q4 24 | -17.8% | 7.9% | ||
| Q3 24 | 7.3% | 10.3% | ||
| Q2 24 | 42.8% | 8.4% | ||
| Q1 24 | 50.2% | 8.0% |
净利率AHTOSW
| Q4 25 | -26.8% | 5.0% | ||
| Q3 25 | -22.6% | 9.4% | ||
| Q2 25 | -10.1% | 8.3% | ||
| Q1 25 | -7.2% | 7.0% | ||
| Q4 24 | -45.1% | 6.6% | ||
| Q3 24 | -20.9% | 8.9% | ||
| Q2 24 | 15.9% | 7.0% | ||
| Q1 24 | 23.5% | 10.0% |
每股收益（稀释后）AHTOSW
| Q4 25 | $-12.85 | $0.12 | ||
| Q3 25 | $-11.35 | $0.23 | ||
| Q2 25 | $-6.88 | $0.19 | ||
| Q1 25 | $-4.91 | $0.15 | ||
| Q4 24 | $-13.64 | $0.13 | ||
| Q3 24 | $-12.39 | $0.20 | ||
| Q2 24 | $2.50 | $0.15 | ||
| Q1 24 | $5.99 | $0.21 |
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 | $16.3M |
| 总债务越低越好 | $2.5B | $84.0M |
| 股东权益账面价值 | $-626.4M | $542.6M |
| 总资产 | $2.8B | $707.1M |
| 负债/权益比越低杠杆越低 | — | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资AHTOSW
| Q4 25 | $66.1M | $16.3M | ||
| Q3 25 | $81.9M | $29.6M | ||
| Q2 25 | $100.0M | $35.0M | ||
| Q1 25 | $85.8M | $22.6M | ||
| Q4 24 | $112.9M | $57.4M | ||
| Q3 24 | $119.7M | $48.8M | ||
| Q2 24 | $121.8M | $62.5M | ||
| Q1 24 | $111.1M | $65.4M |
总债务AHTOSW
| Q4 25 | $2.5B | $84.0M | ||
| Q3 25 | $2.6B | $85.2M | ||
| Q2 25 | $2.6B | $96.2M | ||
| Q1 25 | $2.7B | $97.4M | ||
| Q4 24 | $2.6B | $98.6M | ||
| Q3 24 | $2.7B | $98.7M | ||
| Q2 24 | $2.8B | $123.8M | ||
| Q1 24 | $2.9B | $138.6M |
股东权益AHTOSW
| Q4 25 | $-626.4M | $542.6M | ||
| Q3 25 | $-548.7M | $552.8M | ||
| Q2 25 | $-485.5M | $548.3M | ||
| Q1 25 | $-446.1M | $530.6M | ||
| Q4 24 | $-419.2M | $554.5M | ||
| Q3 24 | $-288.4M | $540.1M | ||
| Q2 24 | $-225.9M | $532.7M | ||
| Q1 24 | $-276.8M | $515.5M |
总资产AHTOSW
| Q4 25 | $2.8B | $707.1M | ||
| Q3 25 | $3.0B | $732.6M | ||
| Q2 25 | $3.1B | $731.8M | ||
| Q1 25 | $3.1B | $708.7M | ||
| Q4 24 | $3.2B | $746.4M | ||
| Q3 24 | $3.3B | $734.0M | ||
| Q2 24 | $3.3B | $756.8M | ||
| Q1 24 | $3.5B | $763.6M |
负债/权益比AHTOSW
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.23× | ||
| Q1 24 | — | 0.27× |
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 | $20.0M |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | $14.9M |
| 自由现金流率自由现金流/营收 | -33.5% | 6.2% |
| 资本支出强度资本支出/营收 | 27.5% | 2.1% |
| 现金转化率经营现金流/净利润 | — | 1.65× |
| 过去12个月自由现金流最近4个季度 | $-135.5M | $68.4M |
8季度趋势，按日历期对齐
经营现金流AHTOSW
| Q4 25 | $-15.7M | $20.0M | ||
| Q3 25 | $5.5M | $33.2M | ||
| Q2 25 | $16.3M | $20.3M | ||
| Q1 25 | $-25.0M | $10.1M | ||
| Q4 24 | $-23.6M | $16.6M | ||
| Q3 24 | $795.0K | $28.6M | ||
| Q2 24 | $8.0M | $18.7M | ||
| Q1 24 | $-46.5M | $15.0M |
自由现金流AHTOSW
| Q4 25 | $-86.8M | $14.9M | ||
| Q3 25 | $-226.0K | $27.6M | ||
| Q2 25 | $-3.6M | $17.6M | ||
| Q1 25 | $-44.8M | $8.4M | ||
| Q4 24 | $-131.6M | $13.2M | ||
| Q3 24 | $-21.8M | $27.5M | ||
| Q2 24 | $-22.9M | $17.6M | ||
| Q1 24 | $-80.4M | $13.7M |
自由现金流率AHTOSW
| Q4 25 | -33.5% | 6.2% | ||
| Q3 25 | -0.1% | 10.7% | ||
| Q2 25 | -1.2% | 7.3% | ||
| Q1 25 | -16.2% | 3.8% | ||
| Q4 24 | -47.8% | 6.1% | ||
| Q3 24 | -7.9% | 11.4% | ||
| Q2 24 | -7.2% | 7.8% | ||
| Q1 24 | -26.5% | 6.5% |
资本支出强度AHTOSW
| Q4 25 | 27.5% | 2.1% | ||
| Q3 25 | 2.1% | 2.2% | ||
| Q2 25 | 6.6% | 1.1% | ||
| Q1 25 | 7.2% | 0.8% | ||
| Q4 24 | 39.2% | 1.5% | ||
| Q3 24 | 8.2% | 0.5% | ||
| Q2 24 | 9.8% | 0.5% | ||
| Q1 24 | 11.2% | 0.6% |
现金转化率AHTOSW
| Q4 25 | — | 1.65× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 1.02× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | 0.16× | 1.19× | ||
| Q1 24 | -0.65× | 0.71× |
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% |
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
