vs
ASHFORD HOSPITALITY TRUST INC（AHT）与通用动力（PLOW）财务数据对比。点击上方公司名可切换其他公司
ASHFORD HOSPITALITY TRUST INC的季度营收约是通用动力的1.4倍（$259.0M vs $184.5M），通用动力净利率更高（7.0% vs -26.8%，领先33.7%），通用动力同比增速更快（28.6% vs -6.0%），通用动力自由现金流更多（$92.8M vs $-86.8M），过去两年通用动力的营收复合增速更高（38.9% 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。
通用动力公司是总部位于美国弗吉尼亚州雷斯顿的工业与科技企业，核心业务是研发制造各类先进军用装备，产品包括核潜艇、主战坦克、装甲战车等，同时也生产民用湾流公务机，并提供信息技术服务，是美国联邦政府前五大国防承包商之一。
AHT vs PLOW — 直观对比
营收规模更大
AHT
是对方的1.4倍
$184.5M
营收增速更快
PLOW
高出34.5%
-6.0%
净利率更高
PLOW
高出33.7%
-26.8%
自由现金流更多
PLOW
多$179.7M
$-86.8M
两年增速更快
PLOW
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $184.5M |
| 净利润 | $-69.3M | $12.8M |
| 毛利率 | — | 26.1% |
| 营业利润率 | -2.6% | 10.5% |
| 净利率 | -26.8% | 7.0% |
| 营收同比 | -6.0% | 28.6% |
| 净利润同比 | 44.2% | 62.3% |
| 每股收益（稀释后） | $-12.85 | $0.54 |
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AHTPLOW
| Q4 25 | $259.0M | $184.5M | ||
| Q3 25 | $266.1M | $162.1M | ||
| Q2 25 | $302.0M | $194.3M | ||
| Q1 25 | $277.4M | $115.1M | ||
| Q4 24 | $275.5M | $143.5M | ||
| Q3 24 | $276.6M | $129.4M | ||
| Q2 24 | $316.5M | $199.9M | ||
| Q1 24 | $303.9M | $95.7M |
净利润AHTPLOW
| Q4 25 | $-69.3M | $12.8M | ||
| Q3 25 | $-60.1M | $8.0M | ||
| Q2 25 | $-30.4M | $26.0M | ||
| Q1 25 | $-20.0M | $148.0K | ||
| Q4 24 | $-124.2M | $7.9M | ||
| Q3 24 | $-57.9M | $32.3M | ||
| Q2 24 | $50.3M | $24.3M | ||
| Q1 24 | $71.6M | $-8.4M |
毛利率AHTPLOW
| Q4 25 | — | 26.1% | ||
| Q3 25 | — | 23.5% | ||
| Q2 25 | — | 31.0% | ||
| Q1 25 | — | 24.5% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | — | 23.9% | ||
| Q2 24 | — | 30.7% | ||
| Q1 24 | — | 19.8% |
营业利润率AHTPLOW
| Q4 25 | -2.6% | 10.5% | ||
| Q3 25 | 4.6% | 8.7% | ||
| Q2 25 | 16.3% | 19.0% | ||
| Q1 25 | 22.2% | 2.8% | ||
| Q4 24 | -17.8% | 9.0% | ||
| Q3 24 | 7.3% | 35.4% | ||
| Q2 24 | 42.8% | 18.2% | ||
| Q1 24 | 50.2% | -6.7% |
净利率AHTPLOW
| Q4 25 | -26.8% | 7.0% | ||
| Q3 25 | -22.6% | 4.9% | ||
| Q2 25 | -10.1% | 13.4% | ||
| Q1 25 | -7.2% | 0.1% | ||
| Q4 24 | -45.1% | 5.5% | ||
| Q3 24 | -20.9% | 24.9% | ||
| Q2 24 | 15.9% | 12.2% | ||
| Q1 24 | 23.5% | -8.7% |
每股收益（稀释后）AHTPLOW
| Q4 25 | $-12.85 | $0.54 | ||
| Q3 25 | $-11.35 | $0.33 | ||
| Q2 25 | $-6.88 | $1.09 | ||
| Q1 25 | $-4.91 | $0.00 | ||
| Q4 24 | $-13.64 | $0.35 | ||
| Q3 24 | $-12.39 | $1.36 | ||
| Q2 24 | $2.50 | $1.02 | ||
| Q1 24 | $5.99 | $-0.37 |
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 | — |
| 总债务越低越好 | $2.5B | $144.0M |
| 股东权益账面价值 | $-626.4M | $281.4M |
| 总资产 | $2.8B | $626.7M |
| 负债/权益比越低杠杆越低 | — | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资AHTPLOW
| Q4 25 | $66.1M | — | ||
| Q3 25 | $81.9M | — | ||
| Q2 25 | $100.0M | — | ||
| Q1 25 | $85.8M | — | ||
| Q4 24 | $112.9M | — | ||
| Q3 24 | $119.7M | — | ||
| Q2 24 | $121.8M | — | ||
| Q1 24 | $111.1M | — |
总债务AHTPLOW
| Q4 25 | $2.5B | $144.0M | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.6B | $147.5M | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $2.9B | — |
股东权益AHTPLOW
| Q4 25 | $-626.4M | $281.4M | ||
| Q3 25 | $-548.7M | $275.3M | ||
| Q2 25 | $-485.5M | $273.3M | ||
| Q1 25 | $-446.1M | $258.9M | ||
| Q4 24 | $-419.2M | $264.2M | ||
| Q3 24 | $-288.4M | $260.8M | ||
| Q2 24 | $-225.9M | $236.7M | ||
| Q1 24 | $-276.8M | $217.2M |
总资产AHTPLOW
| Q4 25 | $2.8B | $626.7M | ||
| Q3 25 | $3.0B | $694.9M | ||
| Q2 25 | $3.1B | $671.5M | ||
| Q1 25 | $3.1B | $621.0M | ||
| Q4 24 | $3.2B | $590.0M | ||
| Q3 24 | $3.3B | $665.6M | ||
| Q2 24 | $3.3B | $617.0M | ||
| Q1 24 | $3.5B | $577.1M |
负债/权益比AHTPLOW
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.56× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $95.9M |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | $92.8M |
| 自由现金流率自由现金流/营收 | -33.5% | 50.3% |
| 资本支出强度资本支出/营收 | 27.5% | 1.7% |
| 现金转化率经营现金流/净利润 | — | 7.47× |
| 过去12个月自由现金流最近4个季度 | $-135.5M | $63.6M |
8季度趋势，按日历期对齐
经营现金流AHTPLOW
| Q4 25 | $-15.7M | $95.9M | ||
| Q3 25 | $5.5M | $-8.5M | ||
| Q2 25 | $16.3M | $-11.4M | ||
| Q1 25 | $-25.0M | $-1.3M | ||
| Q4 24 | $-23.6M | $74.4M | ||
| Q3 24 | $795.0K | $-14.2M | ||
| Q2 24 | $8.0M | $2.5M | ||
| Q1 24 | $-46.5M | $-21.6M |
自由现金流AHTPLOW
| Q4 25 | $-86.8M | $92.8M | ||
| Q3 25 | $-226.0K | $-11.4M | ||
| Q2 25 | $-3.6M | $-14.3M | ||
| Q1 25 | $-44.8M | $-3.5M | ||
| Q4 24 | $-131.6M | $70.2M | ||
| Q3 24 | $-21.8M | $-15.2M | ||
| Q2 24 | $-22.9M | $836.0K | ||
| Q1 24 | $-80.4M | $-22.4M |
自由现金流率AHTPLOW
| Q4 25 | -33.5% | 50.3% | ||
| Q3 25 | -0.1% | -7.1% | ||
| Q2 25 | -1.2% | -7.4% | ||
| Q1 25 | -16.2% | -3.0% | ||
| Q4 24 | -47.8% | 48.9% | ||
| Q3 24 | -7.9% | -11.8% | ||
| Q2 24 | -7.2% | 0.4% | ||
| Q1 24 | -26.5% | -23.4% |
资本支出强度AHTPLOW
| Q4 25 | 27.5% | 1.7% | ||
| Q3 25 | 2.1% | 1.8% | ||
| Q2 25 | 6.6% | 1.5% | ||
| Q1 25 | 7.2% | 1.9% | ||
| Q4 24 | 39.2% | 2.9% | ||
| Q3 24 | 8.2% | 0.8% | ||
| Q2 24 | 9.8% | 0.8% | ||
| Q1 24 | 11.2% | 0.8% |
现金转化率AHTPLOW
| Q4 25 | — | 7.47× | ||
| Q3 25 | — | -1.07× | ||
| Q2 25 | — | -0.44× | ||
| Q1 25 | — | -9.03× | ||
| Q4 24 | — | 9.41× | ||
| Q3 24 | — | -0.44× | ||
| Q2 24 | 0.16× | 0.10× | ||
| 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% |
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
