Ashford Hospitality Trust Inc. (AHT) financials — revenue, cash, debt and margins

Key figures

Trailing twelve months where a flow is involved, latest reported balance where it is not.

Valuation

Market cap: $209M
P/E (TTM): —
Price / sales: 0.20
EV / EBITDA: 5.56
Price / book: —

Cash flow

FCF yield: -25.8%
SBC-adjusted FCF yield: -25.4%
SBC impact: —
Stock compensation (TTM): -$872K

Margins & growth

Profit margin: -6.1%
Operating margin: 20.2%
Quarterly revenue (year on year): -9.5%
Quarterly earnings (year on year): —

Balance sheet

Cash & investments: $254.1M
Debt: $2B
Net cash / (debt): -$1.7B

Where the revenue comes from

Occupancy is 75% of revenue.

By product or service

Year to Dec 31, 2025 · $1.1B

Occupancy75%
$825.6M-7.2% vs. a year earlier
Food and Beverage19%
$207.6M-2.3% vs. a year earlier
Hotel Other6%
$69.6M+2.7% vs. a year earlier
Product and Service Other0.14%
$1.5M-34.0% vs. a year earlier

By region

Year to Dec 31, 2025 · $1.1B

Other Areas25%
$279.1M-2.0% vs. a year earlier
Washington DCMDVA Area15%
$161.7M-4.8% vs. a year earlier
Los Angeles CA Metro Area9%
$95.2M+1.1% vs. a year earlier
Nashville TN Area9%
$94.9M+6.0% vs. a year earlier
Dallas Ft Worth Area7%
$81.6M+13.4% vs. a year earlier
Atlanta GA Area7%
$77.7M+3.1% vs. a year earlier
New York New Jersey Metro Area5%
$59.7M+2.8% vs. a year earlier
San Francisco Oakl and CA Metro Area4%
$46.5M+3.5% vs. a year earlier
Tampa FL Area3%
$38.3M-2.2% vs. a year earlier
Miami FL Metro Area3%
$38.2M+2.6% vs. a year earlier
Houston TX Area3%
$28.6M+6.8% vs. a year earlier
Sold Properties2%
$27.1M-73.6% vs. a year earlier
Orlando FL Area2%
$25.5M-6.1% vs. a year earlier
Minneapolis St Paul MNWI Area2%
$19.4M+2.7% vs. a year earlier
San Diego CA Area1%
$15.3M-9.1% vs. a year earlier
Philadelphia PA Area1%
$14M+8.8% vs. a year earlier
Corporate Area0.14%
$1.5M-34.0% vs. a year earlier

What it owns and what it owes

Both on one scale, because both are money — the bar that is taller is the one that matters.

Cash and debt

Cash & InvestmentsTotal Debt

Cash counts short-term investments, not just the bank balance — technology companies park most of it in marketable securities, and leaving those out understates it several times over. Debt includes lease obligations.

Where the money goes

Cost of RevenueR&D ExpenseSG&A Expense

Only the three costs filers report consistently. Anything a company does not break out sits outside these bands, so the stack is not the whole cost base.

The rest of the series

Not on the overview because five charts is as much as one decision needs — but here in full, on one period switch. Each bar sums the four quarters ending there — a full year, brought up to today.

Total Revenue

$1.07BQ2 2026-2.6%

1Y: -5.78%2Y: -16.93%5Y: +116.43%

Everything the company sold, before any costs. Each bar sums the four quarters ending there — a full year, brought up to today.

EBITDA

$344.48MQ2 2026+68.8%

1Y: +49.97%2Y: -32.77%5Y: +354.70%

Operating profit before depreciation and amortisation — approximated from operating income, because no depreciation tag is reported consistently enough across filers to do better. Treat it as indicative. Each bar sums the four quarters ending there — a full year, brought up to today.

Profit

-$65.25MQ2 2026+70.8%-6.1% of revenue

1Y: +71.93%2Y: -326.13%5Y: +84.55%

What was left after every cost, including tax. Each bar sums the four quarters ending there — a full year, brought up to today.

Profit margin

-6.1%Q2 2026+70.0%

How much of every dollar of sales the company keeps as profit. A grocer keeps a few cents; a software company can keep half. Each point covers the four quarters ending there — a full year, brought up to today.

Free Cash Flow

-$53.92MQ2 2026-83.3%

1Y: +29.71%2Y: +72.15%5Y: +76.49%

Cash left over after running and maintaining the business. Each bar sums the four quarters ending there — a full year, brought up to today.

Profit per share

-$33.37Q2 2026+20.3%

1Y: +25.58%2Y: -64.22%5Y: +80.95%

The same profit, split across every share. If this lags the profit chart above, the company is issuing shares and your slice is getting smaller. Restated onto today’s share count, so stock splits do not show as jumps. Each bar sums the four quarters ending there — a full year, brought up to today.

Shares outstanding

24.09MQ2 2026+288.9%

How many shares the profit is divided across. Rising is dilution; falling is the company buying itself back. Restated onto today’s basis, so splits do not show as jumps. Each point covers the four quarters ending there — a full year, brought up to today.

Price to earnings

24,412.3x2016

No TTM figures — showing Yearly

Paid per unit of yearly profit. Periods with a loss, or profits too small for the ratio to mean anything, are left out — the line breaks rather than drawing through them. One point per fiscal year, as filed. Stops at the last completed year.

Dividends paid

$12.34MQ2 2026-32.6%

1Y: -45.17%2Y: -30.40%

Cash handed to shareholders. A flat line at zero means the company pays none. Each bar sums the four quarters ending there — a full year, brought up to today.

About Ashford Hospitality Trust Inc.

Ticker: AHT
SEC classification: Real Estate Investment Trusts (6798)
Listed on: NYSE
Incorporated in: MD
Financial year ends: December 31
Filer size: Non-accelerated filer<br>Smaller reporting company

About this data

Everything above comes from Ashford Hospitality Trust Inc.’s own filings with the SEC, as reported. No estimates, no analyst figures, nothing adjusted.

Splits applied: 10:1 on Jun 30, 2020. Per-share history is restated onto today’s basis, so a split does not appear as a cliff.

Share-count jumps we cannot explain: 0.01x around Dec 31, 2018, 13.86x around Dec 31, 2021, and 0.16x around Dec 31, 2022. No split accounts for these, so nothing was adjusted — most often it is real dilution rather than a data problem, which is why it is flagged and not corrected.

Not reported by this filer: Gross Profit, R&D Expense, Interest Income, Non-interest Income, Non-interest Expense, Deposits, Current Assets, Current Liabilities, Receivables, Long-term Debt (current), Short-term Borrowings, Borrowings (total), Operating Lease (current), Operating Lease (noncurrent), Finance Lease (current), and Finance Lease (noncurrent). Companies choose which XBRL tags to use, and anything untagged cannot be recovered — so these are blank rather than guessed.