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ASHFORD HOSPITALITY TRUST INC（AHT）与PROGRESS SOFTWARE CORP（PRGS）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PROGRESS SOFTWARE CORP的1.0倍（$259.0M vs $252.7M），PROGRESS SOFTWARE CORP净利率更高（10.2% vs -26.8%，领先37.0%），PROGRESS SOFTWARE CORP同比增速更快（17.5% vs -6.0%），PROGRESS SOFTWARE CORP自由现金流更多（$59.9M vs $-86.8M），过去两年PROGRESS SOFTWARE CORP的营收复合增速更高（17.0% 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。
Progress Software是全球领先的企业级软件服务商，主营应用开发平台、数据连接工具、数字体验解决方案等产品，服务覆盖金融、医疗、制造、零售等多行业的全球企业客户，助力客户搭建高性能可扩展的业务应用，提升运营效率。
AHT vs PRGS — 直观对比
营收规模更大
AHT
是对方的1.0倍
$252.7M
营收增速更快
PRGS
高出23.5%
-6.0%
净利率更高
PRGS
高出37.0%
-26.8%
自由现金流更多
PRGS
多$146.8M
$-86.8M
两年增速更快
PRGS
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $252.7M |
| 净利润 | $-69.3M | $25.7M |
| 毛利率 | — | 81.6% |
| 营业利润率 | -2.6% | 15.2% |
| 净利率 | -26.8% | 10.2% |
| 营收同比 | -6.0% | 17.5% |
| 净利润同比 | 44.2% | 2144.6% |
| 每股收益（稀释后） | $-12.85 | $0.59 |
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AHTPRGS
| Q4 25 | $259.0M | $252.7M | ||
| Q3 25 | $266.1M | $249.8M | ||
| Q2 25 | $302.0M | $237.4M | ||
| Q1 25 | $277.4M | $238.0M | ||
| Q4 24 | $275.5M | $215.0M | ||
| Q3 24 | $276.6M | $178.7M | ||
| Q2 24 | $316.5M | $175.1M | ||
| Q1 24 | $303.9M | $184.7M |
净利润AHTPRGS
| Q4 25 | $-69.3M | $25.7M | ||
| Q3 25 | $-60.1M | $19.4M | ||
| Q2 25 | $-30.4M | $17.0M | ||
| Q1 25 | $-20.0M | $10.9M | ||
| Q4 24 | $-124.2M | $1.1M | ||
| Q3 24 | $-57.9M | $28.5M | ||
| Q2 24 | $50.3M | $16.2M | ||
| Q1 24 | $71.6M | $22.6M |
毛利率AHTPRGS
| Q4 25 | — | 81.6% | ||
| Q3 25 | — | 81.0% | ||
| Q2 25 | — | 80.1% | ||
| Q1 25 | — | 80.6% | ||
| Q4 24 | — | 83.0% | ||
| Q3 24 | — | 83.7% | ||
| Q2 24 | — | 81.7% | ||
| Q1 24 | — | 82.2% |
营业利润率AHTPRGS
| Q4 25 | -2.6% | 15.2% | ||
| Q3 25 | 4.6% | 17.6% | ||
| Q2 25 | 16.3% | 16.3% | ||
| Q1 25 | 22.2% | 13.6% | ||
| Q4 24 | -17.8% | 10.0% | ||
| Q3 24 | 7.3% | 22.6% | ||
| Q2 24 | 42.8% | 15.5% | ||
| Q1 24 | 50.2% | 19.0% |
净利率AHTPRGS
| Q4 25 | -26.8% | 10.2% | ||
| Q3 25 | -22.6% | 7.8% | ||
| Q2 25 | -10.1% | 7.2% | ||
| Q1 25 | -7.2% | 4.6% | ||
| Q4 24 | -45.1% | 0.5% | ||
| Q3 24 | -20.9% | 15.9% | ||
| Q2 24 | 15.9% | 9.2% | ||
| Q1 24 | 23.5% | 12.3% |
每股收益（稀释后）AHTPRGS
| Q4 25 | $-12.85 | $0.59 | ||
| Q3 25 | $-11.35 | $0.44 | ||
| Q2 25 | $-6.88 | $0.39 | ||
| Q1 25 | $-4.91 | $0.24 | ||
| Q4 24 | $-13.64 | $0.01 | ||
| Q3 24 | $-12.39 | $0.65 | ||
| Q2 24 | $2.50 | $0.37 | ||
| Q1 24 | $5.99 | $0.51 |
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 | $94.8M |
| 总债务越低越好 | $2.5B | $1.4B |
| 股东权益账面价值 | $-626.4M | $478.3M |
| 总资产 | $2.8B | $2.5B |
| 负债/权益比越低杠杆越低 | — | 2.93× |
8季度趋势，按日历期对齐
现金及短期投资AHTPRGS
| Q4 25 | $66.1M | $94.8M | ||
| Q3 25 | $81.9M | $99.0M | ||
| Q2 25 | $100.0M | $102.0M | ||
| Q1 25 | $85.8M | $124.2M | ||
| Q4 24 | $112.9M | $118.1M | ||
| Q3 24 | $119.7M | $232.7M | ||
| Q2 24 | $121.8M | $190.4M | ||
| Q1 24 | $111.1M | $133.2M |
总债务AHTPRGS
| Q4 25 | $2.5B | $1.4B | ||
| Q3 25 | $2.6B | $1.4B | ||
| Q2 25 | $2.6B | $1.5B | ||
| Q1 25 | $2.7B | $1.5B | ||
| Q4 24 | $2.6B | $1.5B | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $2.9B | — |
股东权益AHTPRGS
| Q4 25 | $-626.4M | $478.3M | ||
| Q3 25 | $-548.7M | $477.7M | ||
| Q2 25 | $-485.5M | $452.7M | ||
| Q1 25 | $-446.1M | $431.8M | ||
| Q4 24 | $-419.2M | $438.8M | ||
| Q3 24 | $-288.4M | $425.6M | ||
| Q2 24 | $-225.9M | $401.7M | ||
| Q1 24 | $-276.8M | $461.7M |
总资产AHTPRGS
| Q4 25 | $2.8B | $2.5B | ||
| Q3 25 | $3.0B | $2.4B | ||
| Q2 25 | $3.1B | $2.4B | ||
| Q1 25 | $3.1B | $2.5B | ||
| Q4 24 | $3.2B | $2.5B | ||
| Q3 24 | $3.3B | $1.6B | ||
| Q2 24 | $3.3B | $1.6B | ||
| Q1 24 | $3.5B | $1.5B |
负债/权益比AHTPRGS
| Q4 25 | — | 2.93× | ||
| Q3 25 | — | 2.97× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.50× | ||
| Q4 24 | — | 3.48× | ||
| 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 | $62.8M |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | $59.9M |
| 自由现金流率自由现金流/营收 | -33.5% | 23.7% |
| 资本支出强度资本支出/营收 | 27.5% | 1.1% |
| 现金转化率经营现金流/净利润 | — | 2.44× |
| 过去12个月自由现金流最近4个季度 | $-135.5M | $229.5M |
8季度趋势，按日历期对齐
经营现金流AHTPRGS
| Q4 25 | $-15.7M | $62.8M | ||
| Q3 25 | $5.5M | $73.4M | ||
| Q2 25 | $16.3M | $30.0M | ||
| Q1 25 | $-25.0M | $68.9M | ||
| Q4 24 | $-23.6M | $19.7M | ||
| Q3 24 | $795.0K | $57.7M | ||
| Q2 24 | $8.0M | $63.7M | ||
| Q1 24 | $-46.5M | $70.5M |
自由现金流AHTPRGS
| Q4 25 | $-86.8M | $59.9M | ||
| Q3 25 | $-226.0K | $72.4M | ||
| Q2 25 | $-3.6M | $29.5M | ||
| Q1 25 | $-44.8M | $67.7M | ||
| Q4 24 | $-131.6M | $16.8M | ||
| Q3 24 | $-21.8M | $56.6M | ||
| Q2 24 | $-22.9M | $62.7M | ||
| Q1 24 | $-80.4M | $70.2M |
自由现金流率AHTPRGS
| Q4 25 | -33.5% | 23.7% | ||
| Q3 25 | -0.1% | 29.0% | ||
| Q2 25 | -1.2% | 12.4% | ||
| Q1 25 | -16.2% | 28.4% | ||
| Q4 24 | -47.8% | 7.8% | ||
| Q3 24 | -7.9% | 31.7% | ||
| Q2 24 | -7.2% | 35.8% | ||
| Q1 24 | -26.5% | 38.0% |
资本支出强度AHTPRGS
| Q4 25 | 27.5% | 1.1% | ||
| Q3 25 | 2.1% | 0.4% | ||
| Q2 25 | 6.6% | 0.2% | ||
| Q1 25 | 7.2% | 0.5% | ||
| Q4 24 | 39.2% | 1.3% | ||
| Q3 24 | 8.2% | 0.6% | ||
| Q2 24 | 9.8% | 0.5% | ||
| Q1 24 | 11.2% | 0.2% |
现金转化率AHTPRGS
| Q4 25 | — | 2.44× | ||
| Q3 25 | — | 3.78× | ||
| Q2 25 | — | 1.76× | ||
| Q1 25 | — | 6.30× | ||
| Q4 24 | — | 17.13× | ||
| Q3 24 | — | 2.03× | ||
| Q2 24 | 0.16× | 3.93× | ||
| Q1 24 | -0.65× | 3.11× |
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% |
PRGS
| Maintenanceand Services | $187.5M | 74% |
| Share File Acquisition | $67.5M | 27% |
