Ashford Hospitality Tr Inc Financials
Ashford Hospitality Tr Inc (AHT) reported $1.1B in revenue for fiscal year 2025, down 5.8% from the prior fiscal year. 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).
Operating profit remains positive, but a heavy interest burden and shrinking cash coexist with deeply negative equity.
In FY2025, operating profit of$116M was less than interest expense of$256M , so operating viability did not translate into bottom-line profitability. Despite positive investing cash flow of$191M , cash ended at only$66M , indicating that financing and investing activity—not recurring operations—were carrying liquidity.
Operating margin volatility is more informative than its absolute level: it fell from
Balance-sheet pressure increased as cash fell from
Financial Health Signals
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 Tr 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.
Not available for Ashford Hospitality Tr Inc, and counted as zero in the overall score.
Ashford Hospitality Tr 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.
Ashford Hospitality Tr 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.
Ashford Hospitality Tr 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
Earnings & Revenue
Ashford Hospitality Tr Inc generated $1.1B in revenue in fiscal year 2025. This represents a decrease of 5.8% from the prior year.
Ashford Hospitality Tr Inc's EBITDA was $257.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 37.4% from the prior year.
Ashford Hospitality Tr Inc reported -$179.8M in net income in fiscal year 2025. This represents a decrease of 198.2% from the prior year.
Ashford Hospitality Tr Inc earned -$35.99 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 105.2% from the prior year.
Cash & Balance Sheet
Ashford Hospitality Tr Inc held $66.1M in cash against $2.5B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Ashford Hospitality Tr Inc's gross margin was 30.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. That is unchanged from the prior year.
Ashford Hospitality Tr Inc's operating margin was 10.5% in fiscal year 2025, reflecting core business profitability. This is down 11.6 percentage points from the prior year.
Ashford Hospitality Tr Inc's net profit margin was -16.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 11.1 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Ashford Hospitality Tr Inc spent $44K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 10.2% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
AHT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 (Diluted) | — | -$35.99-105.2% | -$17.54+68.7% | -$56.11 | -$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 |
Not reported in any period shown, so not listed: R&D Expenses.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
AHT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
| 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 |
Not reported in any period shown, so not listed: Current Assets, Goodwill, Current Liabilities.
AHT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
AHT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
Not reported in any period shown, so not listed: Current Ratio, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net 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.
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Where Ashford Hospitality Tr Inc Ranks
Frequently Asked Questions
What is Ashford Hospitality Tr Inc's annual revenue?
Ashford Hospitality Tr 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 Tr Inc's revenue growing?
Ashford Hospitality Tr Inc (AHT) revenue declined by 5.8% year-over-year, from $1.2B to $1.1B in fiscal year 2025.
Is Ashford Hospitality Tr Inc profitable?
No, Ashford Hospitality Tr 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 Tr Inc's EBITDA?
Ashford Hospitality Tr 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 Tr Inc have?
As of fiscal year 2025, Ashford Hospitality Tr Inc (AHT) had $66.1M in cash and equivalents against $2.5B in long-term debt.
What is Ashford Hospitality Tr Inc's gross margin?
Ashford Hospitality Tr 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 Tr Inc's operating margin?
Ashford Hospitality Tr 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 Tr Inc's net profit margin?
Ashford Hospitality Tr 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 Tr Inc's operating cash flow?
Ashford Hospitality Tr 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 Tr Inc's total assets?
Ashford Hospitality Tr Inc (AHT) had $2.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Ashford Hospitality Tr Inc's return on assets (ROA)?
Ashford Hospitality Tr 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 Tr Inc's cash runway?
Based on fiscal year 2025 data, Ashford Hospitality Tr Inc (AHT) had $66.1M in cash against an annual operating cash burn of $15.7M. This gives an estimated cash runway of approximately 51 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Ashford Hospitality Tr Inc's debt-to-equity ratio negative or not reported?
Ashford Hospitality Tr 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 Tr Inc's Piotroski F-Score?
Ashford Hospitality Tr 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 Tr Inc's earnings high quality?
Ashford Hospitality Tr 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 Tr Inc cover its interest payments?
Ashford Hospitality Tr 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 Tr Inc?
Ashford Hospitality Tr Inc (AHT) scores 11 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.