What is Ashford Hospitality Trust, Inc.'s earnings per share (EPS)?

Ashford Hospitality Trust, Inc. (AHT) reported diluted earnings per share of -$35.99 for fiscal year 2025. This represents a -105.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Ashford Hospitality Trust, Inc. (AHT) Financials

AHT

Trailing 12 months to June 30, 2026

Revenue $1.1B -5.8% YoY

Net Income -$65.3M +71.9% YoY

EPS (Diluted) -$33.37 +25.6% YoY

Operating Cash Flow $15.1M +141.7% YoY

Market Cap $14.9M as of Oct 6, 2026

Price / Sales 0.0x on $1.1B revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book n/m negative shareholder equity, so no book multiple, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 12, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AHT SEC filings page.

Ashford Hospitality Trust, Inc. (AHT) reported $1.1B in revenue over the twelve months to Jun 30, 2026, down 5.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AHT FY2025 2026-10-04

Revenue softened, but the deeper issue is that accounting earnings still do not become cash while debt keeps equity negative.

In FY2025, gross margin held at 30.4% while operating margin fell to 10.5%, so deterioration occurred below direct costs rather than in the basic revenue-cost spread. At the same time, operating income of $116M coexisted with operating cash flow of -$16M, showing that reported operating profitability did not translate into cash generation.

The balance sheet is becoming more constrained even as long-term debt declined from $2.6B in FY2024 to $2.5B in FY2025. Liabilities still exceeded assets, and negative equity worsened, meaning debt reduction alone has not repaired the capital structure.

Interest expense exceeded operating income: $256M versus $116M, helping explain the $180M net loss despite positive operating income. Positive investing cash flow alongside negative operating cash flow indicates reported cash generation was not primarily operational; the liquidity comparison was 50.7 months of annual outflow.

Financial Health Signals

Financial Health Score 16/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Ashford Hospitality Trust, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Ashford Hospitality Trust, Inc. scores 15/100 on it among other REITs.

FFO Growth

Not available for Ashford Hospitality Trust, Inc., and counted as zero in the overall score.

Leverage

Ashford Hospitality Trust, Inc.'s net debt of $2.4B, being $2.5B of long-term debt less $66.1M of cash, came to 9.46 times its EBITDA in fiscal year 2025. REITs are ranked here on that debt against their EBITDA, where a lower multiple is the safer one, and Ashford Hospitality Trust, Inc. scores 21/100 among other REITs.

Interest Cov.

Ashford Hospitality Trust, Inc.'s operating income of $116.4M covered its interest expense of $256.2M 0.45 times over in fiscal year 2025. The interest coverage axis ranks REITs on operating income against interest owed, and Ashford Hospitality Trust, Inc. scores 33/100 among other REITs.

AFFO Margin

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Ashford Hospitality Trust, Inc. scores 19/100 on it among other REITs.

Dividend Cov.

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Ashford Hospitality Trust, Inc. scores 5/100 on it among other REITs.

Piotroski F-Score Partial

2/8

Ashford Hospitality Trust, Inc. passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Ashford Hospitality Trust, Inc. reported a net loss of $179.8M while operations used $15.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

0.45x

Ashford Hospitality Trust, Inc. earns $0.45 in operating income for every $1 of interest expense ($116.4M vs $256.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$273.2M

YoY-9.5%

QoQ+2.1%

5Y CAGR+7.2%

10Y CAGR-4.0%

Ashford Hospitality Trust, Inc. generated $273.2M in revenue in Q2 2026. This represents a decrease of 9.5% from the same quarter a year earlier. Against the prior quarter it is up 2.1%.

EBITDA

$225.0M

YoY+166.0%

QoQ+397.1%

5Y CAGR+62.3%

10Y CAGR+5.7%

Ashford Hospitality Trust, Inc.'s EBITDA was $225.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 166.0% from the same quarter a year earlier. Against the prior quarter it is up 397.1%.

Net Income

$128.0M

YoY+521.1%

QoQ+300.7%

Ashford Hospitality Trust, Inc. reported $128.0M in net income in Q2 2026. This represents an increase of 521.1% from the same quarter a year earlier. Against the prior quarter it is up 300.7%.

EPS (Diluted)

$1.62

10Y CAGR+21.6%

Ashford Hospitality Trust, Inc. earned $1.62 per diluted share (EPS) in Q2 2026.

Cash & Balance Sheet

Cash & Debt

$72.5M

YoY-27.5%

QoQ-7.1%

5Y CAGR-32.6%

10Y CAGR-12.0%

Ashford Hospitality Trust, Inc. held $72.5M in cash against $1.9B in long-term debt as of Q2 2026.

Shares Outstanding

5Y CAGR-25.4%

10Y CAGR-23.7%

Ashford Hospitality Trust, Inc. had 6M shares outstanding in Q2 2026.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

35.4%

YoY+1.3pp

QoQ+3.1pp

Ashford Hospitality Trust, Inc.'s gross margin was 35.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 1.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.1 percentage points.

Operating Margin

71.9%

YoY+55.5pp

QoQ+66.9pp

5Y change+90.3pp

10Y change+54.9pp

Ashford Hospitality Trust, Inc.'s operating margin was 71.9% in Q2 2026, reflecting core business profitability. This is up 55.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 66.9 percentage points.

Net Margin

46.8%

YoY+56.9pp

QoQ+70.7pp

Ashford Hospitality Trust, Inc.'s net profit margin was 46.8% in Q2 2026, showing the share of revenue converted to profit. This is up 56.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 70.7 percentage points.

Return on Equity

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

YoY-100.0%

QoQ-100.0%

Ashford Hospitality Trust, Inc. repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier. Against the prior quarter it is down 100.0%.

R&D Spending

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

AHT Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AHT quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$1.1B	$1.1B-5.8%	$1.2B-14.3%	$1.4B+10.2%	$1.2B+54.1%	$805.4M+58.5%	$508.2M-66.2%	$1.5B+5.0%	$1.4B-0.6%	$1.4B-3.5%	$1.5B+11.6%	$1.3B+68.2%	$794.8M-15.4%	$939.5M+2.2%	$919.7M+6.9%	$860.0M
Cost of Revenue	$738.5M	$768.3M-5.8%	$815.4M-11.9%	$925.4M+10.7%	$836.0M+44.9%	$576.8M+32.7%	$434.7M-54.4%	$952.7M+5.8%	$900.6M-0.7%	$907.3M-3.3%	$938.4M	N/A	N/A	N/A	N/A	N/A
Gross Profit	$327.5M	$336.1M-5.9%	$357.1M-19.2%	$442.1M+9.2%	$404.9M+77.1%	$228.6M+210.7%	$73.6M-86.6%	$550.1M+3.7%	$530.2M-0.3%	$532.0M-3.9%	$553.6M	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$13.9M	$20.8M-15.7%	$24.7M+52.4%	$16.2M+63.8%	$9.9M-38.8%	$16.2M-42.4%	$28.0M+152.5%	$11.1M+1.6%	$10.9M-17.7%	$13.3M+58.8%	$8.4M-41.5%	$14.3M-75.0%	$57.2M+8.4%	$52.8M+19.9%	$44.0M-1.1%	$44.5M
Operating Income	$215.2M	$116.4M-55.1%	$259.2M+98.7%	$130.4M+71.1%	$76.3M+160.9%	-$125.2M+73.1%	-$465.4M-505.6%	$114.7M+26.9%	$90.4M-39.3%	$149.0M-20.4%	$187.3M+35.8%	$137.9M+79.8%	$76.7M-34.4%	$116.9M+2.4%	$114.1M+21.6%	$93.9M
EBITDA	N/A	$257.7M-37.4%	$412.0M+29.5%	$318.3M+14.5%	$278.1M+196.8%	$93.7M+144.1%	-$212.6M-155.4%	$383.7M+10.0%	$348.9M-11.8%	$395.8M-8.2%	$431.2M+23.8%	$348.3M+85.7%	$187.6M-23.4%	$244.9M-2.3%	$250.6M+9.9%	$228.1M
Interest Expense	$248.5M	$256.2M-6.3%	$273.4M-16.4%	$327.0M+57.3%	$207.9M+33.2%	$156.1M-36.9%	$247.4M-5.6%	$262.0M+10.6%	$236.8M+6.4%	$222.6M-0.6%	$224.0M+19.4%	$187.5M+63.8%	$114.5M-18.7%	$140.9M-2.7%	$144.8M+5.5%	$137.2M
Income Tax	$2.7M	-$143K-114.3%	$997K+10.8%	$900K-85.8%	$6.3M+6.5%	$5.9M+545.5%	-$1.3M-209.6%	$1.2M-56.2%	$2.8M+225.4%	-$2.2M-244.8%	$1.5M-67.5%	$4.7M+272.0%	$1.3M-16.2%	$1.5M-36.4%	$2.4M+46.6%	$1.6M
Net Income	-$65.3M	-$179.8M-198.2%	-$60.3M+66.2%	-$178.5M-27.7%	-$139.8M+47.6%	-$267.0M+50.9%	-$543.9M-378.6%	-$113.6M+10.5%	-$127.0M-89.5%	-$67.0M-44.8%	-$46.3M-117.1%	$270.9M+962.8%	-$31.4M+23.9%	-$41.3M+23.2%	-$53.8M-2650.0%	$2.1M
EPS (Basic)	N/A	-$35.99-105.2%	-$17.54+68.7%	-$56.11-25.8%	-$44.61-260.6%	-$12.37+96.3%	-$329.97-109.2%	-$157.74-800.3%	-$17.52-1247.7%	-$1.30-36.8%	-$0.95-139.1%	$2.43+424.0%	-$0.75+25.0%	-$1.00	N/A	N/A
EPS (Diluted)	-$33.37	-$35.99-105.2%	-$17.54	-$56.11-25.8%	-$44.61	-$12.43	-$329.97	-$157.74	-$17.52	-$1.30-36.8%	-$0.95	$2.35	-$0.75+25.0%	-$1.00+20.0%	-$1.25-108.3%	-$0.60
Diluted Shares (Avg)	N/A	6M+26.9%	5M	3M+0.5%	3M	22M	2M	998,000	10M	95M+0.8%	94M	115M	88M+16.6%	75M+11.3%	68M+9.0%	62M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$273.2M-9.5%	$267.7M-3.5%	$259.0M-6.0%	$266.1M-3.8%	$302.0M-4.6%	$277.4M-8.7%	$275.5M-13.9%	$276.6M-19.4%
Cost of Revenue	$176.5M-11.3%	$181.1M-3.9%	$187.7M-7.2%	$193.3M-0.8%	$198.8M-4.2%	$188.5M-10.6%	$202.2M-10.9%	$194.8M-16.2%
Gross Profit	$96.8M-6.2%	$86.6M-2.6%	$71.3M-2.8%	$72.8M-11.0%	$103.2M-5.4%	$88.9M-4.4%	$73.3M-21.1%	$81.8M-25.9%
SG&A Expenses	$1.3M-75.8%	$1.6M-63.0%	$3.7M-11.5%	$7.3M+44.4%	$5.5M-23.8%	$4.3M-47.6%	$4.1M-13.7%	$5.1M+30.7%
Operating Income	$196.3M+298.3%	$13.2M-78.5%	-$6.6M+86.5%	$12.2M-39.4%	$49.3M-63.6%	$61.5M-59.6%	-$49.0M-394.0%	$20.2M-45.8%
EBITDA	$225.0M+166.0%	$45.3M-54.2%	$27.5M+335.6%	$46.8M-19.2%	$84.6M-51.0%	$98.9M-48.8%	-$11.7M-118.4%	$57.9M-30.4%
Interest Expense	$55.7M-20.6%	$73.6M+10.1%	$56.4M-12.1%	$62.9M-5.9%	$70.1M+2.5%	$66.8M-9.7%	$64.2M-23.5%	$66.8M-23.7%
Income Tax	$2.6M+2045.4%	$752K+137.2%	-$838K+63.8%	$259K+158.2%	$119K-96.6%	$317K+4.6%	-$2.3M-53.4%	-$445K-450.4%
Net Income	$128.0M+521.1%	-$63.8M-219.3%	-$69.3M+44.2%	-$60.1M-3.9%	-$30.4M-160.5%	-$20.0M-127.9%	-$124.2M-322.5%	-$57.9M+8.9%
EPS (Basic)	$18.73+372.2%	-$11.03-124.6%	-$12.61+55.7%	-$11.35+8.4%	-$6.88-167.5%	-$4.91-128.1%	-$28.48-3100.0%	-$12.39+37.8%
EPS (Diluted)	$1.62	-$11.03-124.6%	-$12.61+39.0%	-$11.35+8.4%	-$6.88	-$4.91	-$20.66	-$12.39
Diluted Shares (Avg)	77M	6M+14.0%	N/A	6M+19.3%	6M	6M	N/A	5M

Not reported in any period shown, so not listed: R&D Expenses.

AHT Balance Sheet

AHT quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$2.8B-10.4%	$3.2B-8.7%	$3.5B-11.6%	$3.9B-4.4%	$4.1B+9.7%	$3.7B-20.4%	$4.7B+0.1%	$4.7B+0.3%	$4.7B-4.5%	$4.9B-1.5%	$5.0B+79.2%	$2.8B+3.5%	$2.7B-22.7%	$3.5B-3.5%	$3.6B
Cash & Equivalents	$66.1M-41.4%	$112.9M-31.7%	$165.2M-60.4%	$417.1M-29.6%	$592.1M+537.3%	$92.9M-64.6%	$262.6M-17.7%	$319.2M-10.0%	$354.8M+2.2%	$347.1M+61.4%	$215.1M0.0%	$215.1M+67.0%	$128.8M-30.7%	$185.9M+10.9%	$167.6M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0-100.0%	$21.8M-19.0%	$26.9M-49.4%	$53.2M	$0-100.0%	$63.2M	$0	$0	$0
Inventory	$3.6M-0.9%	$3.6M-1.3%	$3.7M-4.6%	$3.9M+17.2%	$3.3M+34.5%	$2.4M-43.7%	$4.3M+2.9%	$4.2M-0.5%	$4.2M-6.3%	$4.5M-5.8%	$4.8M+128.6%	$2.1M+8.1%	$1.9M-7.8%	$2.1M-11.0%	$2.4M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	$39.6M+7.0%	$37.1M-16.3%	$44.3M-0.8%	$44.6M+10.4%	$40.4M+80.5%	$22.4M+2.8%	$21.8M-37.9%	$35.1M+28.6%	$27.3M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$3.2B-4.9%	$3.4B-8.5%	$3.7B-8.8%	$4.0B-0.8%	$4.1B+2.1%	$4.0B-8.2%	$4.4B+4.8%	$4.2B+5.9%	$3.9B-1.2%	$4.0B-1.7%	$4.0B+95.8%	$2.1B+7.1%	$1.9B-22.0%	$2.5B-0.8%	$2.5B
Long-Term Debt	$2.5B-4.7%	$2.6B-13.5%	$3.0B-20.8%	$3.8B-1.3%	$3.9B+4.3%	$3.7B-9.2%	$4.1B+4.6%	$3.9B+6.2%	$3.7B-0.7%	$3.7B-3.0%	$3.8B+97.7%	$1.9B+6.8%	$1.8B-22.2%	$2.3B-1.0%	$2.4B
Total Equity	-$626.4M-49.4%	-$419.2M-21.2%	-$345.9M-130.0%	-$150.4M-5566.5%	-$2.7M+99.1%	-$283.6M-205.5%	$268.8M-40.6%	$452.5M-28.5%	$632.5M-20.1%	$791.6M-2.4%	$811.1M+52.6%	$531.6M-13.9%	$617.8M-25.7%	$831.9M-14.5%	$973.4M
Retained Earnings	-$3.0B-7.7%	-$2.8B-3.0%	-$2.7B-7.7%	-$2.5B-6.3%	-$2.4B-13.8%	-$2.1B-34.4%	-$1.6B-14.3%	-$1.4B-18.1%	-$1.2B-18.4%	-$974.0M-23.7%	-$787.2M+25.0%	-$1.1B-17.2%	-$896.1M-16.3%	-$770.5M-26.5%	-$609.3M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$2.3B-23.7%	$2.6B-15.5%	$2.8B-10.4%	$3.0B-8.0%	$3.1B-8.6%	$3.1B-12.9%	$3.2B-8.7%	$3.3B-12.1%
Cash & Equivalents	$72.5M-27.5%	$78.0M-9.0%	$66.1M-41.4%	$81.9M-31.6%	$100.0M-17.9%	$85.8M-22.8%	$112.9M-31.7%	$119.7M-35.0%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$2.7M-27.5%	$3.1M-15.7%	$3.6M-0.9%	$3.7M+1.9%	$3.7M+2.0%	$3.7M-1.9%	$3.6M-1.3%	$3.7M-6.8%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$2.6B-20.1%	$3.0B-7.7%	$3.2B-4.9%	$3.3B-1.6%	$3.3B-2.8%	$3.3B-10.1%	$3.4B-8.5%	$3.4B-14.4%
Long-Term Debt	$1.9B-27.9%	$2.3B-13.7%	$2.5B-4.7%	$2.6B-4.5%	$2.6B-4.1%	$2.7B-9.7%	$2.6B-13.5%	$2.7B-24.7%
Total Equity	-$570.9M-17.6%	-$695.2M-55.8%	-$626.4M-49.4%	-$548.7M-90.3%	-$485.5M-115.0%	-$446.1M-61.2%	-$419.2M-21.2%	-$288.4M+7.3%
Retained Earnings	-$3.0B-3.2%	-$3.1B-9.1%	-$3.0B-7.7%	-$2.9B-10.1%	-$2.9B-10.1%	-$2.8B-6.7%	-$2.8B-3.0%	-$2.7B+0.6%

Not reported in any period shown, so not listed: Current Assets, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities.

AHT Cash Flow Statement

AHT quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$15.1M	-$15.7M+33.6%	-$23.6M-263.9%	$14.4M-63.3%	$39.2M+127.2%	-$144.2M+3.6%	-$149.5M-184.4%	$177.2M-2.4%	$181.6M-12.5%	$207.4M+15.4%	$179.7M-11.7%	$203.6M+82.9%	$111.3M-23.5%	$145.5M+11.3%	$130.6M+75.1%	$74.6M
Depreciation & Amortization	N/A	$141.3M-7.5%	$152.8M-18.7%	$187.8M-6.9%	$201.8M-7.8%	$218.9M-13.4%	$252.8M-6.0%	$269.0M+4.1%	$258.5M+4.8%	$246.7M+1.2%	$243.9M+15.9%	$210.4M+89.7%	$110.9M-13.3%	$128.0M-6.3%	$136.5M+1.7%	$134.3M
Stock-Based Compensation	N/A	-$761K-136.3%	$2.1M-47.9%	$4.0M-32.9%	$6.0M-40.2%	$10.0M-6.7%	$10.7M-45.5%	$19.7M-26.8%	$26.9M+119.2%	$12.3M+27.0%	$9.7M+178.7%	$3.5M-81.9%	$19.2M-25.0%	$25.5M+46.4%	$17.4M+40.7%	$12.4M
Investing Cash Flow	$640.8M	$190.8M-0.3%	$191.3M+313.1%	-$89.8M-27.6%	-$70.3M-106.6%	-$34.0M-347.7%	-$7.6M+97.0%	-$253.2M+23.2%	-$329.6M-416.0%	-$63.9M-192.3%	-$21.9M+97.2%	-$780.3M-276.5%	-$207.2M+41.5%	-$354.0M-417.2%	-$68.4M-43.3%	-$47.8M
Financing Cash Flow	-$699.8M	-$179.2M+30.8%	-$258.8M-50.3%	-$172.1M-69.6%	-$101.5M-114.4%	$702.6M+1052.5%	-$73.8M-314.5%	$34.4M-70.3%	$115.8M+170.7%	-$163.9M-379.9%	-$34.1M-105.3%	$644.6M+253.8%	$182.2M+20.4%	$151.4M+445.1%	-$43.9M+43.0%	-$76.9M
Dividends Paid	$12.3M	$24.0M+17.6%	$20.4M+36.3%	$14.9M+20.3%	$12.4M-33.3%	$18.6M-34.9%	$28.6M-66.8%	$86.2M-11.5%	$97.4M-4.1%	$101.6M+11.1%	$91.5M+0.2%	$91.3M+6.9%	$85.4M+8.4%	$78.8M+10.2%	$71.6M+34.3%	$53.3M
Share Buybacks	$42K	$44K-10.2%	$49K-45.6%	$90K-71.5%	$316K+587.0%	$46K-88.5%	$399K-61.3%	$1.0M-35.5%	$1.6M+25.6%	$1.3M+74.5%	$729K-98.6%	$52.3M+11317.5%	$458K+14.2%	$401K-19.6%	$499K	$0

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$7.4M-145.3%	$29.5M+218.1%	-$12.5M-188.7%	$5.5M+590.8%	$16.3M+105.2%	-$25.0M+46.2%	$14.1M+165.1%	$795K+4.6%
Depreciation & Amortization	$28.6M-18.8%	$32.0M-14.3%	$34.1M-8.6%	$34.6M-8.3%	$35.3M-5.1%	$37.3M-7.9%	$37.3M-20.4%	$37.7M-17.9%
Stock-Based Compensation	N/A	$28K+151.9%	N/A	N/A	N/A	-$54K-109.6%	N/A	N/A
Investing Cash Flow	$358.7M+5575.7%	$197.1M+98.1%	$57.6M+380.0%	$27.3M+227.2%	$6.3M-97.5%	$99.5M+692.0%	-$20.6M+13.7%	-$21.5M-31.8%
Financing Cash Flow	-$360.4M-4487.4%	-$222.0M-217.2%	-$77.6M-1009.9%	-$39.8M-577.7%	$8.2M+103.2%	-$70.0M-52736.1%	-$7.0M-6394.6%	$8.3M+117.0%
Dividends Paid	$0-100.0%	$0-100.0%	$6.2M+9.9%	$6.1M+16.9%	$6.0M+22.3%	$5.6M+23.1%	$5.7M+31.9%	$5.2M+31.7%
Share Buybacks	$0-100.0%	$2K	$40K	$0	$4K-91.8%	$0	$0	$0

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.

AHT Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AHT quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	30.4%0.0pp	30.5%-1.9pp	32.3%-0.3pp	32.6%+4.2pp	28.4%+13.9pp	14.5%-22.1pp	36.6%-0.5pp	37.1%+0.1pp	37.0%-0.2pp	37.1%	N/A	N/A	N/A	N/A	N/A
Operating Margin	10.5%-11.6pp	22.1%+12.6pp	9.5%+3.4pp	6.2%+21.7pp	-15.5%+76.0pp	-91.6%-99.2pp	7.6%+1.3pp	6.3%-4.0pp	10.3%-2.2pp	12.6%+2.2pp	10.3%+0.7pp	9.7%-2.8pp	12.4%0.0pp	12.4%+1.5pp	10.9%
Net Margin	-16.3%-11.1pp	-5.1%+7.9pp	-13.1%-1.8pp	-11.3%+21.9pp	-33.1%	-107.0%	-7.6%+1.3pp	-8.9%-4.2pp	-4.7%-1.6pp	-3.1%-23.4pp	20.3%+24.2pp	-4.0%+0.4pp	-4.4%+1.5pp	-5.9%-6.1pp	0.3%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	-42.3%-14.2pp	-28.1%-17.5pp	-10.6%-4.7pp	-5.9%-39.3pp	33.4%+39.3pp	-5.9%+0.8pp	-6.7%-0.2pp	-6.5%-6.7pp	0.2%
Return on Assets	-6.3%-4.4pp	-1.9%+3.3pp	-5.2%-1.6pp	-3.6%+2.9pp	-6.5%+8.0pp	-14.6%-12.1pp	-2.4%+0.3pp	-2.7%-1.3pp	-1.4%-0.5pp	-0.9%-6.4pp	5.5%+6.6pp	-1.1%+0.4pp	-1.5%0.0pp	-1.6%-1.6pp	0.1%
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	15.28+6.6x	8.68+2.8x	5.84+1.1x	4.700.0x	4.74+1.1x	3.65+0.7x	2.94+0.1x	2.81+0.4x	2.43
Asset Turnover	0.390.0x	0.370.0x	0.40+0.1x	0.32+0.1x	0.20+0.1x	0.14-0.2x	0.320.0x	0.310.0x	0.310.0x	0.300.0x	0.270.0x	0.29-0.1x	0.35+0.1x	0.270.0x	0.24

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	35.4%+1.3pp	32.4%+0.3pp	27.5%+0.9pp	27.4%-2.2pp	34.2%-0.3pp	32.0%+1.4pp	26.6%-2.4pp	29.6%-2.6pp
Operating Margin	71.9%+55.5pp	5.0%-17.2pp	-2.6%+15.2pp	4.6%-2.7pp	16.3%-26.5pp	22.2%-28.0pp	-17.8%-23.0pp	7.3%-3.6pp
Net Margin	46.8%+56.9pp	-23.8%-16.6pp	-26.8%+18.3pp	-22.6%-1.7pp	-10.1%-25.9pp	-7.2%-30.8pp	-45.1%-35.9pp	-20.9%-2.4pp
Return on Assets	5.5%+6.5pp	-2.5%-1.8pp	-2.5%+1.5pp	-2.0%-0.2pp	-1.0%-2.5pp	-0.7%-2.7pp	-3.9%-3.1pp	-1.8%-0.1pp
Asset Turnover	0.120.0x	0.100.0x	0.090.0x	0.090.0x	0.100.0x	0.090.0x	0.090.0x	0.080.0x

Not reported in any period shown, so not listed: Return on Equity, Current Ratio, Debt-to-Equity, FCF Margin.

Note: Shareholder equity is negative (-$626.4M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Ashford Hospitality Trust, Inc. AHT	FY2025	$1.1B	-$179.8M	-16.3%	$14.9M	16/100
Summit Hotel Properties, Inc. INN	FY2025	$729.5M	-$11.7M	-1.6%	$646.0M	52/100
RLJ Lodging Trust RLJ	FY2025	$1.3B	$28.5M	2.1%	$1.7B	31/100
Xenia Hotels & Resorts, Inc. XHR	FY2025	$1.1B	$63.1M	5.9%	$1.7B	50/100
Service Properties Trust SVC	FY2025	$1.8B	-$202.3M	-11.2%	$826.3M	26/100
Pebblebrook Hotel Trust PEB	FY2025	$1.5B	-$65.8M	-4.5%	$2.2B	5/100

Where Ashford Hospitality Trust, Inc. Ranks

Frequently Asked Questions

What is Ashford Hospitality Trust, Inc.'s annual revenue?

Ashford Hospitality Trust, Inc. (AHT) reported $1.1B in total revenue for fiscal year 2025. This represents a -5.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Ashford Hospitality Trust, Inc.'s revenue growing?

Ashford Hospitality Trust, Inc. (AHT) revenue declined by 5.8% year-over-year, from $1.2B to $1.1B in fiscal year 2025.

Is Ashford Hospitality Trust, Inc. profitable?

No, Ashford Hospitality Trust, Inc. (AHT) reported a net income of -$179.8M in fiscal year 2025, with a net profit margin of -16.3%.

What is Ashford Hospitality Trust, Inc.'s EBITDA?

Ashford Hospitality Trust, Inc. (AHT) had EBITDA of $257.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Ashford Hospitality Trust, Inc. have?

As of fiscal year 2025, Ashford Hospitality Trust, Inc. (AHT) had $66.1M in cash and equivalents against $2.5B in long-term debt.

What is Ashford Hospitality Trust, Inc.'s gross margin?

Ashford Hospitality Trust, Inc. (AHT) had a gross margin of 30.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Ashford Hospitality Trust, Inc.'s operating margin?

Ashford Hospitality Trust, Inc. (AHT) had an operating margin of 10.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Ashford Hospitality Trust, Inc.'s net profit margin?

Ashford Hospitality Trust, Inc. (AHT) had a net profit margin of -16.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Ashford Hospitality Trust, Inc.'s operating cash flow?

Ashford Hospitality Trust, Inc. (AHT) recorded an outflow of $15.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Ashford Hospitality Trust, Inc.'s total assets?

Ashford Hospitality Trust, Inc. (AHT) had $2.8B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Ashford Hospitality Trust, Inc. buy back shares?

Yes, Ashford Hospitality Trust, Inc. (AHT) spent $44K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Ashford Hospitality Trust, Inc. have outstanding?

Ashford Hospitality Trust, Inc. (AHT) had 6M shares outstanding as of fiscal year 2025.

What is Ashford Hospitality Trust, Inc.'s return on assets (ROA)?

Ashford Hospitality Trust, Inc. (AHT) had a return on assets of -6.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Ashford Hospitality Trust, Inc.'s P/E ratio?

Ashford Hospitality Trust, Inc. (AHT) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $14.9M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Ashford Hospitality Trust, Inc.'s price-to-sales ratio?

Ashford Hospitality Trust, Inc. (AHT) trades at 0.0x sales, its market capitalization divided by revenue of $1.1B revenue, trailing 12 months to June 30, 2026. The market capitalization is $14.9M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Ashford Hospitality Trust, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Ashford Hospitality Trust, Inc. (AHT) held $66.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $15.7M over that year. Dividing the one by the other, the reported balance equals about 51 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

Why is Ashford Hospitality Trust, Inc.'s debt-to-equity ratio negative or not reported?

Ashford Hospitality Trust, Inc. (AHT) has negative shareholder equity of -$626.4M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Ashford Hospitality Trust, Inc.'s Piotroski F-Score?

Ashford Hospitality Trust, Inc. (AHT) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Ashford Hospitality Trust, Inc.'s earnings high quality?

Ashford Hospitality Trust, Inc. (AHT) reported a net loss of $179.8M while operations used $15.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Ashford Hospitality Trust, Inc. cover its interest payments?

Ashford Hospitality Trust, Inc. (AHT) has an interest coverage ratio of 0.45x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Ashford Hospitality Trust, Inc.?

Ashford Hospitality Trust, Inc. (AHT) scores 16 out of 100 on our Financial Health Score, indicating weak standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.