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ASHFORD HOSPITALITY TRUST INC（AHT）与UiPath, Inc.（PATH）财务数据对比。点击上方公司名可切换其他公司
UiPath, Inc.的季度营收约是ASHFORD HOSPITALITY TRUST INC的1.6倍（$411.1M vs $259.0M），UiPath, Inc.净利率更高（48.4% vs -26.8%，领先75.1%），UiPath, Inc.同比增速更快（15.9% vs -6.0%），UiPath, Inc.自由现金流更多（$25.1M vs $-86.8M），过去两年UiPath, Inc.的营收复合增速更高（0.7% 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。
UiPath是一家全球化软件企业，专注于开发人工智能、智能自动化及流程编排类软件，其产品支持用户搭建与调度AI代理，实现复杂业务流程、工作流的自动化运行，助力各行业客户提升运营效率、降低人力成本。
AHT vs PATH — 直观对比
营收规模更大
PATH
是对方的1.6倍
$259.0M
营收增速更快
PATH
高出21.9%
-6.0%
净利率更高
PATH
高出75.1%
-26.8%
自由现金流更多
PATH
多$111.9M
$-86.8M
两年增速更快
PATH
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $411.1M |
| 净利润 | $-69.3M | $198.8M |
| 毛利率 | — | 83.3% |
| 营业利润率 | -2.6% | 3.2% |
| 净利率 | -26.8% | 48.4% |
| 营收同比 | -6.0% | 15.9% |
| 净利润同比 | 44.2% | 1966.2% |
| 每股收益（稀释后） | $-12.85 | $0.37 |
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AHTPATH
| Q4 25 | $259.0M | $411.1M | ||
| Q3 25 | $266.1M | $361.7M | ||
| Q2 25 | $302.0M | $356.6M | ||
| Q1 25 | $277.4M | $423.6M | ||
| Q4 24 | $275.5M | $354.7M | ||
| Q3 24 | $276.6M | $316.3M | ||
| Q2 24 | $316.5M | $335.1M | ||
| Q1 24 | $303.9M | $405.3M |
净利润AHTPATH
| Q4 25 | $-69.3M | $198.8M | ||
| Q3 25 | $-60.1M | $1.6M | ||
| Q2 25 | $-30.4M | $-22.6M | ||
| Q1 25 | $-20.0M | $51.8M | ||
| Q4 24 | $-124.2M | $-10.7M | ||
| Q3 24 | $-57.9M | $-86.1M | ||
| Q2 24 | $50.3M | $-28.7M | ||
| Q1 24 | $71.6M | $33.9M |
毛利率AHTPATH
| Q4 25 | — | 83.3% | ||
| Q3 25 | — | 82.2% | ||
| Q2 25 | — | 82.1% | ||
| Q1 25 | — | 84.8% | ||
| Q4 24 | — | 82.0% | ||
| Q3 24 | — | 80.0% | ||
| Q2 24 | — | 83.5% | ||
| Q1 24 | — | 86.8% |
营业利润率AHTPATH
| Q4 25 | -2.6% | 3.2% | ||
| Q3 25 | 4.6% | -5.6% | ||
| Q2 25 | 16.3% | -4.6% | ||
| Q1 25 | 22.2% | 7.9% | ||
| Q4 24 | -17.8% | -12.2% | ||
| Q3 24 | 7.3% | -32.7% | ||
| Q2 24 | 42.8% | -14.8% | ||
| Q1 24 | 50.2% | 3.7% |
净利率AHTPATH
| Q4 25 | -26.8% | 48.4% | ||
| Q3 25 | -22.6% | 0.4% | ||
| Q2 25 | -10.1% | -6.3% | ||
| Q1 25 | -7.2% | 12.2% | ||
| Q4 24 | -45.1% | -3.0% | ||
| Q3 24 | -20.9% | -27.2% | ||
| Q2 24 | 15.9% | -8.6% | ||
| Q1 24 | 23.5% | 8.4% |
每股收益（稀释后）AHTPATH
| Q4 25 | $-12.85 | $0.37 | ||
| Q3 25 | $-11.35 | $0.00 | ||
| Q2 25 | $-6.88 | $-0.04 | ||
| Q1 25 | $-4.91 | $0.09 | ||
| Q4 24 | $-13.64 | $-0.02 | ||
| Q3 24 | $-12.39 | $-0.15 | ||
| Q2 24 | $2.50 | $-0.05 | ||
| Q1 24 | $5.99 | $0.07 |
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 | $1.4B |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $-626.4M | $1.9B |
| 总资产 | $2.8B | $2.9B |
| 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AHTPATH
| Q4 25 | $66.1M | $1.4B | ||
| Q3 25 | $81.9M | $1.4B | ||
| Q2 25 | $100.0M | $1.6B | ||
| Q1 25 | $85.8M | $1.6B | ||
| Q4 24 | $112.9M | $1.6B | ||
| Q3 24 | $119.7M | $1.7B | ||
| Q2 24 | $121.8M | $1.9B | ||
| Q1 24 | $111.1M | $1.9B |
总债务AHTPATH
| 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AHTPATH
| Q4 25 | $-626.4M | $1.9B | ||
| Q3 25 | $-548.7M | $1.7B | ||
| Q2 25 | $-485.5M | $1.7B | ||
| Q1 25 | $-446.1M | $1.8B | ||
| Q4 24 | $-419.2M | $1.7B | ||
| Q3 24 | $-288.4M | $1.8B | ||
| Q2 24 | $-225.9M | $2.0B | ||
| Q1 24 | $-276.8M | $2.0B |
总资产AHTPATH
| Q4 25 | $2.8B | $2.9B | ||
| Q3 25 | $3.0B | $2.6B | ||
| Q2 25 | $3.1B | $2.6B | ||
| Q1 25 | $3.1B | $2.9B | ||
| Q4 24 | $3.2B | $2.7B | ||
| Q3 24 | $3.3B | $2.7B | ||
| Q2 24 | $3.3B | $2.8B | ||
| Q1 24 | $3.5B | $3.0B |
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 | $28.3M |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | $25.1M |
| 自由现金流率自由现金流/营收 | -33.5% | 6.1% |
| 资本支出强度资本支出/营收 | 27.5% | 0.8% |
| 现金转化率经营现金流/净利润 | — | 0.14× |
| 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AHTPATH
| Q4 25 | $-15.7M | $28.3M | ||
| Q3 25 | $5.5M | $41.6M | ||
| Q2 25 | $16.3M | $119.0M | ||
| Q1 25 | $-25.0M | $146.1M | ||
| Q4 24 | $-23.6M | $28.1M | ||
| Q3 24 | $795.0K | $46.4M | ||
| Q2 24 | $8.0M | $100.0M | ||
| Q1 24 | $-46.5M | $145.6M |
自由现金流AHTPATH
| Q4 25 | $-86.8M | $25.1M | ||
| Q3 25 | $-226.0K | — | ||
| Q2 25 | $-3.6M | $106.2M | ||
| Q1 25 | $-44.8M | $138.7M | ||
| Q4 24 | $-131.6M | $23.2M | ||
| Q3 24 | $-21.8M | $45.0M | ||
| Q2 24 | $-22.9M | $98.8M | ||
| Q1 24 | $-80.4M | $141.8M |
自由现金流率AHTPATH
| Q4 25 | -33.5% | 6.1% | ||
| Q3 25 | -0.1% | — | ||
| Q2 25 | -1.2% | 29.8% | ||
| Q1 25 | -16.2% | 32.7% | ||
| Q4 24 | -47.8% | 6.5% | ||
| Q3 24 | -7.9% | 14.2% | ||
| Q2 24 | -7.2% | 29.5% | ||
| Q1 24 | -26.5% | 35.0% |
资本支出强度AHTPATH
| Q4 25 | 27.5% | 0.8% | ||
| Q3 25 | 2.1% | 0.0% | ||
| Q2 25 | 6.6% | 3.6% | ||
| Q1 25 | 7.2% | 1.7% | ||
| Q4 24 | 39.2% | 1.4% | ||
| Q3 24 | 8.2% | 0.4% | ||
| Q2 24 | 9.8% | 0.4% | ||
| Q1 24 | 11.2% | 0.9% |
现金转化率AHTPATH
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | 26.25× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.82× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.16× | — | ||
| Q1 24 | -0.65× | 4.29× |
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% |
PATH
| Subscription Services | $247.6M | 60% |
| License | $150.0M | 36% |
| Professional Services And Other | $13.5M | 3% |
