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ASHFORD HOSPITALITY TRUST INC（AHT）与全食超市（SMPL）财务数据对比。点击上方公司名可切换其他公司
全食超市的季度营收约是ASHFORD HOSPITALITY TRUST INC的1.3倍（$340.2M vs $259.0M），全食超市净利率更高（7.4% vs -26.8%，领先34.2%），全食超市同比增速更快（-0.3% vs -6.0%），全食超市自由现金流更多（$48.0M vs $-86.8M），过去两年全食超市的营收复合增速更高（3.0% 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。
全食超市是总部位于美国得克萨斯州奥斯汀的跨国连锁超市，现为亚马逊全资旗下品牌。门店主打无氢化脂肪、人工色素、人工香精、防腐剂的天然食品，是美国农业部认证的有机食品零售商，以丰富的有机商品选择深受消费者欢迎。
AHT vs SMPL — 直观对比
营收规模更大
SMPL
是对方的1.3倍
$259.0M
营收增速更快
SMPL
高出5.7%
-6.0%
净利率更高
SMPL
高出34.2%
-26.8%
自由现金流更多
SMPL
多$134.8M
$-86.8M
两年增速更快
SMPL
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $340.2M |
| 净利润 | $-69.3M | $25.3M |
| 毛利率 | — | 32.3% |
| 营业利润率 | -2.6% | 11.0% |
| 净利率 | -26.8% | 7.4% |
| 营收同比 | -6.0% | -0.3% |
| 净利润同比 | 44.2% | -33.7% |
| 每股收益（稀释后） | $-12.85 | $0.26 |
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AHTSMPL
| Q4 25 | $259.0M | $340.2M | ||
| Q3 25 | $266.1M | — | ||
| Q2 25 | $302.0M | $381.0M | ||
| Q1 25 | $277.4M | — | ||
| Q4 24 | $275.5M | $341.3M | ||
| Q3 24 | $276.6M | $375.7M | ||
| Q2 24 | $316.5M | $334.8M | ||
| Q1 24 | $303.9M | $312.2M |
净利润AHTSMPL
| Q4 25 | $-69.3M | $25.3M | ||
| Q3 25 | $-60.1M | — | ||
| Q2 25 | $-30.4M | $41.1M | ||
| Q1 25 | $-20.0M | — | ||
| Q4 24 | $-124.2M | $38.1M | ||
| Q3 24 | $-57.9M | $29.3M | ||
| Q2 24 | $50.3M | $41.3M | ||
| Q1 24 | $71.6M | $33.1M |
毛利率AHTSMPL
| Q4 25 | — | 32.3% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 36.4% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 38.2% | ||
| Q3 24 | — | 38.8% | ||
| Q2 24 | — | 39.9% | ||
| Q1 24 | — | 37.4% |
营业利润率AHTSMPL
| Q4 25 | -2.6% | 11.0% | ||
| Q3 25 | 4.6% | — | ||
| Q2 25 | 16.3% | 15.6% | ||
| Q1 25 | 22.2% | — | ||
| Q4 24 | -17.8% | 16.0% | ||
| Q3 24 | 7.3% | 12.7% | ||
| Q2 24 | 42.8% | 17.6% | ||
| Q1 24 | 50.2% | 15.4% |
净利率AHTSMPL
| Q4 25 | -26.8% | 7.4% | ||
| Q3 25 | -22.6% | — | ||
| Q2 25 | -10.1% | 10.8% | ||
| Q1 25 | -7.2% | — | ||
| Q4 24 | -45.1% | 11.2% | ||
| Q3 24 | -20.9% | 7.8% | ||
| Q2 24 | 15.9% | 12.3% | ||
| Q1 24 | 23.5% | 10.6% |
每股收益（稀释后）AHTSMPL
| Q4 25 | $-12.85 | $0.26 | ||
| Q3 25 | $-11.35 | — | ||
| Q2 25 | $-6.88 | $0.40 | ||
| Q1 25 | $-4.91 | — | ||
| Q4 24 | $-13.64 | $0.38 | ||
| Q3 24 | $-12.39 | $0.29 | ||
| Q2 24 | $2.50 | $0.41 | ||
| Q1 24 | $5.99 | $0.33 |
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 | $194.1M |
| 总债务越低越好 | $2.5B | — |
| 股东权益账面价值 | $-626.4M | $1.7B |
| 总资产 | $2.8B | $2.5B |
| 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AHTSMPL
| Q4 25 | $66.1M | $194.1M | ||
| Q3 25 | $81.9M | — | ||
| Q2 25 | $100.0M | $98.0M | ||
| Q1 25 | $85.8M | — | ||
| Q4 24 | $112.9M | $121.8M | ||
| Q3 24 | $119.7M | $132.5M | ||
| Q2 24 | $121.8M | $208.7M | ||
| Q1 24 | $111.1M | $135.9M |
总债务AHTSMPL
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | $397.5M | ||
| Q2 24 | $2.8B | $237.7M | ||
| Q1 24 | $2.9B | $237.7M |
股东权益AHTSMPL
| Q4 25 | $-626.4M | $1.7B | ||
| Q3 25 | $-548.7M | — | ||
| Q2 25 | $-485.5M | $1.8B | ||
| Q1 25 | $-446.1M | — | ||
| Q4 24 | $-419.2M | $1.8B | ||
| Q3 24 | $-288.4M | $1.7B | ||
| Q2 24 | $-225.9M | $1.7B | ||
| Q1 24 | $-276.8M | $1.6B |
总资产AHTSMPL
| Q4 25 | $2.8B | $2.5B | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.1B | $2.4B | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.2B | $2.4B | ||
| Q3 24 | $3.3B | $2.4B | ||
| Q2 24 | $3.3B | $2.2B | ||
| Q1 24 | $3.5B | $2.1B |
负债/权益比AHTSMPL
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.23× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.14× |
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 | $50.1M |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | $48.0M |
| 自由现金流率自由现金流/营收 | -33.5% | 14.1% |
| 资本支出强度资本支出/营收 | 27.5% | 0.6% |
| 现金转化率经营现金流/净利润 | — | 1.98× |
| 过去12个月自由现金流最近4个季度 | $-135.5M | $223.6M |
8季度趋势，按日历期对齐
经营现金流AHTSMPL
| Q4 25 | $-15.7M | $50.1M | ||
| Q3 25 | $5.5M | — | ||
| Q2 25 | $16.3M | $101.1M | ||
| Q1 25 | $-25.0M | — | ||
| Q4 24 | $-23.6M | $32.0M | ||
| Q3 24 | $795.0K | $48.9M | ||
| Q2 24 | $8.0M | $72.8M | ||
| Q1 24 | $-46.5M | $46.5M |
自由现金流AHTSMPL
| Q4 25 | $-86.8M | $48.0M | ||
| Q3 25 | $-226.0K | — | ||
| Q2 25 | $-3.6M | $98.9M | ||
| Q1 25 | $-44.8M | — | ||
| Q4 24 | $-131.6M | $31.7M | ||
| Q3 24 | $-21.8M | $45.0M | ||
| Q2 24 | $-22.9M | $72.0M | ||
| Q1 24 | $-80.4M | $46.1M |
自由现金流率AHTSMPL
| Q4 25 | -33.5% | 14.1% | ||
| Q3 25 | -0.1% | — | ||
| Q2 25 | -1.2% | 25.9% | ||
| Q1 25 | -16.2% | — | ||
| Q4 24 | -47.8% | 9.3% | ||
| Q3 24 | -7.9% | 12.0% | ||
| Q2 24 | -7.2% | 21.5% | ||
| Q1 24 | -26.5% | 14.8% |
资本支出强度AHTSMPL
| Q4 25 | 27.5% | 0.6% | ||
| Q3 25 | 2.1% | — | ||
| Q2 25 | 6.6% | 0.6% | ||
| Q1 25 | 7.2% | — | ||
| Q4 24 | 39.2% | 0.1% | ||
| Q3 24 | 8.2% | 1.0% | ||
| Q2 24 | 9.8% | 0.2% | ||
| Q1 24 | 11.2% | 0.1% |
现金转化率AHTSMPL
| Q4 25 | — | 1.98× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.46× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | — | 1.67× | ||
| Q2 24 | 0.16× | 1.76× | ||
| Q1 24 | -0.65× | 1.40× |
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% |
SMPL
| Quest | $211.4M | 62% |
| Atkins Domain | $79.7M | 23% |
| OWYN | $28.1M | 8% |
| Other | $20.9M | 6% |
