vs
ASHFORD HOSPITALITY TRUST INC（AHT）与Ribbon Communications Inc.（RBBN）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Ribbon Communications Inc.的1.6倍（$259.0M vs $162.6M），Ribbon Communications Inc.净利率更高（54.8% vs -26.8%，领先81.5%），ASHFORD HOSPITALITY TRUST INC同比增速更快（-6.0% vs -10.3%），过去两年ASHFORD HOSPITALITY TRUST INC的营收复合增速更高（-7.7% vs -8.1%）
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。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
AHT vs RBBN — 直观对比
营收规模更大
AHT
是对方的1.6倍
$162.6M
营收增速更快
AHT
高出4.3%
-10.3%
净利率更高
RBBN
高出81.5%
-26.8%
两年增速更快
AHT
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $162.6M |
| 净利润 | $-69.3M | $89.1M |
| 毛利率 | — | 42.9% |
| 营业利润率 | -2.6% | 37.6% |
| 净利率 | -26.8% | 54.8% |
| 营收同比 | -6.0% | -10.3% |
| 净利润同比 | 44.2% | — |
| 每股收益（稀释后） | $-12.85 | $0.50 |
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AHTRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $259.0M | $227.3M | ||
| Q3 25 | $266.1M | $215.4M | ||
| Q2 25 | $302.0M | $220.6M | ||
| Q1 25 | $277.4M | $181.3M | ||
| Q4 24 | $275.5M | $251.4M | ||
| Q3 24 | $276.6M | $210.2M | ||
| Q2 24 | $316.5M | $192.6M |
净利润AHTRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $-69.3M | — | ||
| Q3 25 | $-60.1M | $-12.1M | ||
| Q2 25 | $-30.4M | $-11.1M | ||
| Q1 25 | $-20.0M | $-26.2M | ||
| Q4 24 | $-124.2M | — | ||
| Q3 24 | $-57.9M | $-13.4M | ||
| Q2 24 | $50.3M | $-16.8M |
毛利率AHTRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | — | 53.3% | ||
| Q3 25 | — | 50.1% | ||
| Q2 25 | — | 49.6% | ||
| Q1 25 | — | 45.4% | ||
| Q4 24 | — | 55.7% | ||
| Q3 24 | — | 52.1% | ||
| Q2 24 | — | 50.8% |
营业利润率AHTRBBN
| Q1 26 | — | 37.6% | ||
| Q4 25 | -2.6% | 4.1% | ||
| Q3 25 | 4.6% | 1.3% | ||
| Q2 25 | 16.3% | 1.9% | ||
| Q1 25 | 22.2% | -10.8% | ||
| Q4 24 | -17.8% | 13.2% | ||
| Q3 24 | 7.3% | -0.4% | ||
| Q2 24 | 42.8% | -1.0% |
净利率AHTRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | -26.8% | — | ||
| Q3 25 | -22.6% | -5.6% | ||
| Q2 25 | -10.1% | -5.0% | ||
| Q1 25 | -7.2% | -14.5% | ||
| Q4 24 | -45.1% | — | ||
| Q3 24 | -20.9% | -6.4% | ||
| Q2 24 | 15.9% | -8.7% |
每股收益（稀释后）AHTRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $-12.85 | $0.50 | ||
| Q3 25 | $-11.35 | $-0.07 | ||
| Q2 25 | $-6.88 | $-0.06 | ||
| Q1 25 | $-4.91 | $-0.15 | ||
| Q4 24 | $-13.64 | $0.05 | ||
| Q3 24 | $-12.39 | $-0.08 | ||
| Q2 24 | $2.50 | $-0.10 |
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 | $67.6M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $-626.4M | $419.1M |
| 总资产 | $2.8B | — |
| 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AHTRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $66.1M | $96.4M | ||
| Q3 25 | $81.9M | $74.8M | ||
| Q2 25 | $100.0M | $60.5M | ||
| Q1 25 | $85.8M | $71.2M | ||
| Q4 24 | $112.9M | $87.8M | ||
| Q3 24 | $119.7M | $37.2M | ||
| Q2 24 | $121.8M | $64.6M |
总债务AHTRBBN
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $342.1M | ||
| Q3 25 | $2.6B | $344.3M | ||
| Q2 25 | $2.6B | $346.5M | ||
| Q1 25 | $2.7B | $347.4M | ||
| Q4 24 | $2.6B | $348.3M | ||
| Q3 24 | $2.7B | $349.1M | ||
| Q2 24 | $2.8B | $350.0M |
股东权益AHTRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $-626.4M | $449.0M | ||
| Q3 25 | $-548.7M | $360.1M | ||
| Q2 25 | $-485.5M | $370.4M | ||
| Q1 25 | $-446.1M | $381.8M | ||
| Q4 24 | $-419.2M | $404.6M | ||
| Q3 24 | $-288.4M | $395.5M | ||
| Q2 24 | $-225.9M | $405.0M |
总资产AHTRBBN
| Q1 26 | — | — | ||
| Q4 25 | $2.8B | $1.2B | ||
| Q3 25 | $3.0B | $1.1B | ||
| Q2 25 | $3.1B | $1.1B | ||
| Q1 25 | $3.1B | $1.1B | ||
| Q4 24 | $3.2B | $1.2B | ||
| Q3 24 | $3.3B | $1.1B | ||
| Q2 24 | $3.3B | $1.1B |
负债/权益比AHTRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 0.86× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | — |
| 自由现金流率自由现金流/营收 | -33.5% | — |
| 资本支出强度资本支出/营收 | 27.5% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 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AHTRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-15.7M | $29.2M | ||
| Q3 25 | $5.5M | $26.5M | ||
| Q2 25 | $16.3M | $-795.0K | ||
| Q1 25 | $-25.0M | $-3.5M | ||
| Q4 24 | $-23.6M | $61.8M | ||
| Q3 24 | $795.0K | $-14.8M | ||
| Q2 24 | $8.0M | $-9.8M |
自由现金流AHTRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-86.8M | $27.3M | ||
| Q3 25 | $-226.0K | $21.0M | ||
| Q2 25 | $-3.6M | $-6.5M | ||
| Q1 25 | $-44.8M | $-15.7M | ||
| Q4 24 | $-131.6M | $53.8M | ||
| Q3 24 | $-21.8M | $-23.7M | ||
| Q2 24 | $-22.9M | $-12.9M |
自由现金流率AHTRBBN
| Q1 26 | — | — | ||
| Q4 25 | -33.5% | 12.0% | ||
| Q3 25 | -0.1% | 9.7% | ||
| Q2 25 | -1.2% | -2.9% | ||
| Q1 25 | -16.2% | -8.7% | ||
| Q4 24 | -47.8% | 21.4% | ||
| Q3 24 | -7.9% | -11.3% | ||
| Q2 24 | -7.2% | -6.7% |
资本支出强度AHTRBBN
| Q1 26 | — | — | ||
| Q4 25 | 27.5% | 0.9% | ||
| Q3 25 | 2.1% | 2.6% | ||
| Q2 25 | 6.6% | 2.6% | ||
| Q1 25 | 7.2% | 6.7% | ||
| Q4 24 | 39.2% | 3.2% | ||
| Q3 24 | 8.2% | 4.2% | ||
| Q2 24 | 9.8% | 1.6% |
现金转化率AHTRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.16× | — |
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% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
