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ASHFORD HOSPITALITY TRUST INC（AHT）与RBC Bearings INC（RBC）财务数据对比。点击上方公司名可切换其他公司
RBC Bearings INC的季度营收约是ASHFORD HOSPITALITY TRUST INC的1.8倍（$461.6M vs $259.0M），RBC Bearings INC净利率更高（14.6% vs -26.8%，领先41.4%），RBC Bearings INC同比增速更快（17.0% vs -6.0%），RBC Bearings INC自由现金流更多（$99.1M vs $-86.8M），过去两年RBC Bearings INC的营收复合增速更高（5.6% 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。
该文本实际介绍的并非RBC Bearings，而是美国多佛公司。多佛是一家工业产品综合制造商，1955年成立，总部位于伊利诺伊州当纳斯格罗夫。2021年其业务分为五大板块：工程产品、清洁能源与加注、成像与识别、泵与工艺解决方案、气候与可持续技术，是标普500成分股，在纽约证券交易所上市。
AHT vs RBC — 直观对比
营收规模更大
RBC
是对方的1.8倍
$259.0M
营收增速更快
RBC
高出23.0%
-6.0%
净利率更高
RBC
高出41.4%
-26.8%
自由现金流更多
RBC
多$185.9M
$-86.8M
两年增速更快
RBC
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $461.6M |
| 净利润 | $-69.3M | $67.4M |
| 毛利率 | — | 44.3% |
| 营业利润率 | -2.6% | 22.3% |
| 净利率 | -26.8% | 14.6% |
| 营收同比 | -6.0% | 17.0% |
| 净利润同比 | 44.2% | 16.4% |
| 每股收益（稀释后） | $-12.85 | $2.13 |
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AHTRBC
| Q4 25 | $259.0M | $461.6M | ||
| Q3 25 | $266.1M | $455.3M | ||
| Q2 25 | $302.0M | $436.0M | ||
| Q1 25 | $277.4M | $437.7M | ||
| Q4 24 | $275.5M | $394.4M | ||
| Q3 24 | $276.6M | $397.9M | ||
| Q2 24 | $316.5M | $406.3M | ||
| Q1 24 | $303.9M | $413.7M |
净利润AHTRBC
| Q4 25 | $-69.3M | $67.4M | ||
| Q3 25 | $-60.1M | $60.0M | ||
| Q2 25 | $-30.4M | $68.5M | ||
| Q1 25 | $-20.0M | $72.7M | ||
| Q4 24 | $-124.2M | $57.9M | ||
| Q3 24 | $-57.9M | $54.2M | ||
| Q2 24 | $50.3M | $61.4M | ||
| Q1 24 | $71.6M | — |
毛利率AHTRBC
| Q4 25 | — | 44.3% | ||
| Q3 25 | — | 44.1% | ||
| Q2 25 | — | 44.8% | ||
| Q1 25 | — | 44.2% | ||
| Q4 24 | — | 44.3% | ||
| Q3 24 | — | 43.7% | ||
| Q2 24 | — | 45.3% | ||
| Q1 24 | — | 43.1% |
营业利润率AHTRBC
| Q4 25 | -2.6% | 22.3% | ||
| Q3 25 | 4.6% | 21.5% | ||
| Q2 25 | 16.3% | 23.2% | ||
| Q1 25 | 22.2% | 23.0% | ||
| Q4 24 | -17.8% | 21.7% | ||
| Q3 24 | 7.3% | 21.6% | ||
| Q2 24 | 42.8% | 24.0% | ||
| Q1 24 | 50.2% | 22.8% |
净利率AHTRBC
| Q4 25 | -26.8% | 14.6% | ||
| Q3 25 | -22.6% | 13.2% | ||
| Q2 25 | -10.1% | 15.7% | ||
| Q1 25 | -7.2% | 16.6% | ||
| Q4 24 | -45.1% | 14.7% | ||
| Q3 24 | -20.9% | 13.6% | ||
| Q2 24 | 15.9% | 15.1% | ||
| Q1 24 | 23.5% | — |
每股收益（稀释后）AHTRBC
| Q4 25 | $-12.85 | $2.13 | ||
| Q3 25 | $-11.35 | $1.90 | ||
| Q2 25 | $-6.88 | $2.17 | ||
| Q1 25 | $-4.91 | $2.33 | ||
| Q4 24 | $-13.64 | $1.82 | ||
| Q3 24 | $-12.39 | $1.65 | ||
| Q2 24 | $2.50 | $1.90 | ||
| Q1 24 | $5.99 | $1.92 |
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 | $107.6M |
| 总债务越低越好 | $2.5B | $990.2M |
| 股东权益账面价值 | $-626.4M | $3.3B |
| 总资产 | $2.8B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资AHTRBC
| Q4 25 | $66.1M | $107.6M | ||
| Q3 25 | $81.9M | $91.2M | ||
| Q2 25 | $100.0M | $132.9M | ||
| Q1 25 | $85.8M | $36.8M | ||
| Q4 24 | $112.9M | — | ||
| Q3 24 | $119.7M | — | ||
| Q2 24 | $121.8M | $76.8M | ||
| Q1 24 | $111.1M | $63.5M |
总债务AHTRBC
| Q4 25 | $2.5B | $990.2M | ||
| Q3 25 | $2.6B | $1.1B | ||
| Q2 25 | $2.6B | $915.6M | ||
| Q1 25 | $2.7B | $920.1M | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $2.9B | $1.2B |
股东权益AHTRBC
| Q4 25 | $-626.4M | $3.3B | ||
| Q3 25 | $-548.7M | $3.2B | ||
| Q2 25 | $-485.5M | $3.1B | ||
| Q1 25 | $-446.1M | $3.0B | ||
| Q4 24 | $-419.2M | $2.9B | ||
| Q3 24 | $-288.4M | $2.9B | ||
| Q2 24 | $-225.9M | $2.8B | ||
| Q1 24 | $-276.8M | $2.8B |
总资产AHTRBC
| Q4 25 | $2.8B | $5.1B | ||
| Q3 25 | $3.0B | $5.1B | ||
| Q2 25 | $3.1B | $4.8B | ||
| Q1 25 | $3.1B | $4.7B | ||
| Q4 24 | $3.2B | $4.7B | ||
| Q3 24 | $3.3B | $4.7B | ||
| Q2 24 | $3.3B | $4.7B | ||
| Q1 24 | $3.5B | $4.7B |
负债/权益比AHTRBC
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.43× |
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 | $122.1M |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | $99.1M |
| 自由现金流率自由现金流/营收 | -33.5% | 21.5% |
| 资本支出强度资本支出/营收 | 27.5% | 5.0% |
| 现金转化率经营现金流/净利润 | — | 1.81× |
| 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AHTRBC
| Q4 25 | $-15.7M | $122.1M | ||
| Q3 25 | $5.5M | $88.4M | ||
| Q2 25 | $16.3M | $120.0M | ||
| Q1 25 | $-25.0M | — | ||
| Q4 24 | $-23.6M | $84.0M | ||
| Q3 24 | $795.0K | — | ||
| Q2 24 | $8.0M | $97.4M | ||
| Q1 24 | $-46.5M | — |
自由现金流AHTRBC
| Q4 25 | $-86.8M | $99.1M | ||
| Q3 25 | $-226.0K | $71.7M | ||
| Q2 25 | $-3.6M | $104.3M | ||
| Q1 25 | $-44.8M | — | ||
| Q4 24 | $-131.6M | $73.6M | ||
| Q3 24 | $-21.8M | — | ||
| Q2 24 | $-22.9M | $88.4M | ||
| Q1 24 | $-80.4M | — |
自由现金流率AHTRBC
| Q4 25 | -33.5% | 21.5% | ||
| Q3 25 | -0.1% | 15.7% | ||
| Q2 25 | -1.2% | 23.9% | ||
| Q1 25 | -16.2% | — | ||
| Q4 24 | -47.8% | 18.7% | ||
| Q3 24 | -7.9% | — | ||
| Q2 24 | -7.2% | 21.8% | ||
| Q1 24 | -26.5% | — |
资本支出强度AHTRBC
| Q4 25 | 27.5% | 5.0% | ||
| Q3 25 | 2.1% | 3.7% | ||
| Q2 25 | 6.6% | 3.6% | ||
| Q1 25 | 7.2% | 3.2% | ||
| Q4 24 | 39.2% | 2.6% | ||
| Q3 24 | 8.2% | 4.1% | ||
| Q2 24 | 9.8% | 2.2% | ||
| Q1 24 | 11.2% | — |
现金转化率AHTRBC
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.47× | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.16× | 1.59× | ||
| 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% |
RBC
| Domestic | $413.3M | 90% |
| Foreign | $48.3M | 10% |
