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ASHFORD HOSPITALITY TRUST INC（AHT）与WD 40 CO（WDFC）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WD 40 CO的1.7倍（$259.0M vs $154.4M），WD 40 CO净利率更高（11.3% vs -26.8%，领先38.1%），WD 40 CO同比增速更快（0.6% vs -6.0%），WD 40 CO自由现金流更多（$9.1M vs $-86.8M），过去两年WD 40 CO的营收复合增速更高（5.4% 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。
WD-40公司是全球知名的消费及工业维护用品生产商，核心产品为同名多功能防锈润滑剂，同时布局清洁剂、除油剂、特殊润滑产品等品类，业务覆盖全球170余个国家和地区，服务零售、工业、汽车后市场等多个领域。
AHT vs WDFC — 直观对比
营收规模更大
AHT
是对方的1.7倍
$154.4M
营收增速更快
WDFC
高出6.6%
-6.0%
净利率更高
WDFC
高出38.1%
-26.8%
自由现金流更多
WDFC
多$95.9M
$-86.8M
两年增速更快
WDFC
近两年复合增速
-7.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $259.0M | $154.4M |
| 净利润 | $-69.3M | $17.5M |
| 毛利率 | — | 56.2% |
| 营业利润率 | -2.6% | 15.1% |
| 净利率 | -26.8% | 11.3% |
| 营收同比 | -6.0% | 0.6% |
| 净利润同比 | 44.2% | -7.8% |
| 每股收益（稀释后） | $-12.85 | $1.28 |
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AHTWDFC
| Q4 25 | $259.0M | $154.4M | ||
| Q3 25 | $266.1M | $163.5M | ||
| Q2 25 | $302.0M | $156.9M | ||
| Q1 25 | $277.4M | $146.1M | ||
| Q4 24 | $275.5M | $153.5M | ||
| Q3 24 | $276.6M | $156.0M | ||
| Q2 24 | $316.5M | $155.0M | ||
| Q1 24 | $303.9M | $139.1M |
净利润AHTWDFC
| Q4 25 | $-69.3M | $17.5M | ||
| Q3 25 | $-60.1M | $21.2M | ||
| Q2 25 | $-30.4M | $21.0M | ||
| Q1 25 | $-20.0M | $29.9M | ||
| Q4 24 | $-124.2M | $18.9M | ||
| Q3 24 | $-57.9M | $16.8M | ||
| Q2 24 | $50.3M | $19.8M | ||
| Q1 24 | $71.6M | $15.5M |
毛利率AHTWDFC
| Q4 25 | — | 56.2% | ||
| Q3 25 | — | 54.7% | ||
| Q2 25 | — | 56.2% | ||
| Q1 25 | — | 54.6% | ||
| Q4 24 | — | 54.8% | ||
| Q3 24 | — | 54.1% | ||
| Q2 24 | — | 53.1% | ||
| Q1 24 | — | 52.4% |
营业利润率AHTWDFC
| Q4 25 | -2.6% | 15.1% | ||
| Q3 25 | 4.6% | 17.1% | ||
| Q2 25 | 16.3% | 17.4% | ||
| Q1 25 | 22.2% | 15.9% | ||
| Q4 24 | -17.8% | 16.4% | ||
| Q3 24 | 7.3% | 15.4% | ||
| Q2 24 | 42.8% | 17.5% | ||
| Q1 24 | 50.2% | 15.1% |
净利率AHTWDFC
| Q4 25 | -26.8% | 11.3% | ||
| Q3 25 | -22.6% | 13.0% | ||
| Q2 25 | -10.1% | 13.4% | ||
| Q1 25 | -7.2% | 20.4% | ||
| Q4 24 | -45.1% | 12.3% | ||
| Q3 24 | -20.9% | 10.8% | ||
| Q2 24 | 15.9% | 12.8% | ||
| Q1 24 | 23.5% | 11.2% |
每股收益（稀释后）AHTWDFC
| Q4 25 | $-12.85 | $1.28 | ||
| Q3 25 | $-11.35 | $1.57 | ||
| Q2 25 | $-6.88 | $1.54 | ||
| Q1 25 | $-4.91 | $2.19 | ||
| Q4 24 | $-13.64 | $1.39 | ||
| Q3 24 | $-12.39 | $1.23 | ||
| Q2 24 | $2.50 | $1.46 | ||
| Q1 24 | $5.99 | $1.14 |
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 | $48.6M |
| 总债务越低越好 | $2.5B | $85.7M |
| 股东权益账面价值 | $-626.4M | $264.1M |
| 总资产 | $2.8B | $459.7M |
| 负债/权益比越低杠杆越低 | — | 0.32× |
8季度趋势，按日历期对齐
现金及短期投资AHTWDFC
| Q4 25 | $66.1M | $48.6M | ||
| Q3 25 | $81.9M | $58.1M | ||
| Q2 25 | $100.0M | $51.7M | ||
| Q1 25 | $85.8M | $53.0M | ||
| Q4 24 | $112.9M | $54.9M | ||
| Q3 24 | $119.7M | $46.7M | ||
| Q2 24 | $121.8M | $45.3M | ||
| Q1 24 | $111.1M | $55.4M |
总债务AHTWDFC
| Q4 25 | $2.5B | $85.7M | ||
| Q3 25 | $2.6B | $86.2M | ||
| Q2 25 | $2.6B | $85.6M | ||
| Q1 25 | $2.7B | $84.4M | ||
| Q4 24 | $2.6B | $84.6M | ||
| Q3 24 | $2.7B | $86.0M | ||
| Q2 24 | $2.8B | $85.5M | ||
| Q1 24 | $2.9B | $85.9M |
股东权益AHTWDFC
| Q4 25 | $-626.4M | $264.1M | ||
| Q3 25 | $-548.7M | $268.2M | ||
| Q2 25 | $-485.5M | $257.1M | ||
| Q1 25 | $-446.1M | $242.1M | ||
| Q4 24 | $-419.2M | $226.3M | ||
| Q3 24 | $-288.4M | $230.5M | ||
| Q2 24 | $-225.9M | $222.2M | ||
| Q1 24 | $-276.8M | $216.3M |
总资产AHTWDFC
| Q4 25 | $2.8B | $459.7M | ||
| Q3 25 | $3.0B | $475.8M | ||
| Q2 25 | $3.1B | $456.0M | ||
| Q1 25 | $3.1B | $458.3M | ||
| Q4 24 | $3.2B | $447.3M | ||
| Q3 24 | $3.3B | $449.0M | ||
| Q2 24 | $3.3B | $443.6M | ||
| Q1 24 | $3.5B | $442.0M |
负债/权益比AHTWDFC
| Q4 25 | — | 0.32× | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.33× | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | — | 0.37× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.38× | ||
| Q1 24 | — | 0.40× |
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 | $10.0M |
| 自由现金流经营现金流 - 资本支出 | $-86.8M | $9.1M |
| 自由现金流率自由现金流/营收 | -33.5% | 5.9% |
| 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 | — | 0.57× |
| 过去12个月自由现金流最近4个季度 | $-135.5M | $78.2M |
8季度趋势，按日历期对齐
经营现金流AHTWDFC
| Q4 25 | $-15.7M | $10.0M | ||
| Q3 25 | $5.5M | $29.9M | ||
| Q2 25 | $16.3M | $35.1M | ||
| Q1 25 | $-25.0M | $8.0M | ||
| Q4 24 | $-23.6M | $14.9M | ||
| Q3 24 | $795.0K | $27.2M | ||
| Q2 24 | $8.0M | $19.9M | ||
| Q1 24 | $-46.5M | $18.0M |
自由现金流AHTWDFC
| Q4 25 | $-86.8M | $9.1M | ||
| Q3 25 | $-226.0K | $28.6M | ||
| Q2 25 | $-3.6M | $34.0M | ||
| Q1 25 | $-44.8M | $6.6M | ||
| Q4 24 | $-131.6M | $14.2M | ||
| Q3 24 | $-21.8M | $26.4M | ||
| Q2 24 | $-22.9M | $18.7M | ||
| Q1 24 | $-80.4M | $16.7M |
自由现金流率AHTWDFC
| Q4 25 | -33.5% | 5.9% | ||
| Q3 25 | -0.1% | 17.5% | ||
| Q2 25 | -1.2% | 21.6% | ||
| Q1 25 | -16.2% | 4.5% | ||
| Q4 24 | -47.8% | 9.3% | ||
| Q3 24 | -7.9% | 16.9% | ||
| Q2 24 | -7.2% | 12.0% | ||
| Q1 24 | -26.5% | 12.0% |
资本支出强度AHTWDFC
| Q4 25 | 27.5% | 0.6% | ||
| Q3 25 | 2.1% | 0.8% | ||
| Q2 25 | 6.6% | 0.7% | ||
| Q1 25 | 7.2% | 0.9% | ||
| Q4 24 | 39.2% | 0.5% | ||
| Q3 24 | 8.2% | 0.5% | ||
| Q2 24 | 9.8% | 0.8% | ||
| Q1 24 | 11.2% | 0.9% |
现金转化率AHTWDFC
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | 1.41× | ||
| Q2 25 | — | 1.67× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | — | 0.79× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | 0.16× | 1.00× | ||
| Q1 24 | -0.65× | 1.16× |
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% |
WDFC
| Other | $82.6M | 53% |
| WD40Multi Use Product | $56.0M | 36% |
| WD40Specialist | $9.0M | 6% |
| Other Maintenance Products | $4.0M | 3% |
| Homecare And Cleaning Products | $2.7M | 2% |
