For the twelve months ended Jun 30, 2026, Ashford Hospitality Trust Inc reported $1.07B of revenue and -$65.25M of net income.
AHT revenue was $273.24M in fiscal Q2 2026 (ended Jun 30, 2026), down 9.5% from a year earlier and up 2.1% from the prior quarter. For the full fiscal 2025 it was $1.10B, down 5.8% from fiscal 2024. Compound annual growth was +16.8% over 5 years and -1.9% over 10 years. It rose in 5 of the last 10 fiscal years.
AHT net income was $127.99M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$30.40M a year earlier. For the full fiscal 2025 it was -$179.84M, compared with -$60.30M in fiscal 2024.
AHT diluted EPS was $1.62 in fiscal Q2 2026 (ended Jun 30, 2026). For the full fiscal 2025 it was -$35.99, compared with -$17.54 in fiscal 2024.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.10B | $1.17B | $1.37B | $1.24B | $805.41M | $508.24M | $1.50B | $1.43B | $1.44B | $1.49B |
| Cost of revenue | - | - | - | - | - | - | $952.67M | $900.58M | $907.30M | $938.40M |
| Gross profit | - | - | - | - | - | - | $550.09M | $530.21M | $531.97M | $553.64M |
| Selling, general and admin | $20.78M | $24.66M | $16.18M | $9.88M | $16.15M | $28.05M | $11.11M | $10.93M | $13.29M | $8.37M |
| Operating income | $116.42M | $259.21M | $130.44M | $76.25M | -$125.17M | -$465.37M | $114.73M | $90.41M | $149.03M | $187.30M |
| Pre-tax income | -$188.30M | -$64.01M | -$179.83M | -$134.72M | -$265.10M | -$634.56M | -$141.46M | -$153.53M | -$90.98M | -$57.25M |
| Income tax | -$143.0K | $997.0K | $900.0K | $6.34M | $5.95M | -$1.33M | $1.22M | $2.78M | -$2.22M | $1.53M |
| Net income | -$179.84M | -$60.30M | -$178.49M | -$139.82M | -$267.00M | -$543.88M | -$113.64M | -$126.97M | -$67.01M | -$46.28M |
| EPS, basic | -$35.99 | -$17.54 | -$56.11 | -$44.61 | -$123.70 | -$3299.70 | -$1577.40 | -$1752.00 | -$1300.00 | -$950.00 |
| EPS, diluted | -$35.99 | -$17.54 | -$56.11 | -$44.61 | -$124.30 | -$3299.70 | -$1577.40 | -$1752.00 | -$1300.00 | -$950.00 |
| Diluted shares | 6.0M | 4.7M | 3.5M | 3.4M | 2.2M | 157,600 | 99,800 | 97,280 | 95,207 | 94,426 |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $66.14M | $112.91M | $165.23M | $417.06M | $592.11M | $92.91M | $262.64M | $319.21M | $354.81M | $347.09M |
| Short-term investments | - | - | - | - | - | - | - | $21.82M | $26.93M | $53.19M |
| Inventory | $3.60M | $3.63M | $3.68M | $3.86M | $3.29M | $2.45M | $4.35M | $4.22M | $4.24M | $4.53M |
| Total assets | $2.83B | $3.16B | $3.46B | $3.92B | $4.10B | $3.73B | $4.69B | $4.69B | $4.67B | $4.89B |
| Total debt | $2.50B | $2.63B | $3.04B | $3.84B | $3.89B | $3.73B | $4.11B | $3.93B | $3.70B | $3.72B |
| Total liabilities | $3.21B | $3.37B | $3.69B | $4.04B | $4.08B | $3.99B | $4.35B | $4.15B | $3.92B | $3.97B |
| Shareholders' equity | -$626.35M | -$405.83M | -$331.04M | -$150.39M | -$2.65M | -$283.45M | $269.27M | $453.11M | $633.15M | $792.38M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$15.67M | -$23.59M | $14.39M | $39.22M | -$144.19M | -$149.53M | $177.21M | $181.56M | $207.38M | $179.72M |
| Investing cash flow | $190.76M | $191.28M | -$89.75M | -$70.33M | -$34.04M | -$7.60M | -$253.19M | -$329.63M | -$63.88M | -$21.86M |
| Financing cash flow | -$179.17M | -$258.75M | -$172.13M | -$101.51M | $702.56M | -$73.76M | $34.38M | $115.81M | -$163.90M | -$34.15M |
| Dividends paid | $23.96M | $20.36M | $14.94M | $12.42M | $18.62M | $28.62M | $86.21M | $97.44M | $101.59M | $91.47M |
| Share repurchases | $44.0K | $49.0K | $90.0K | $316.0K | $46.0K | $399.0K | $1.03M | $1.60M | $1.27M | $729.0K |
| Stock-based compensation | -$761.0K | $2.10M | $4.03M | $6.00M | $10.03M | $10.75M | $19.72M | $26.94M | $12.29M | $9.67M |
| Depreciation and amortization | $141.29M | $152.78M | $187.81M | $201.80M | $218.85M | $252.76M | $269.00M | $258.46M | $246.73M | $243.86M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -5.8% | -14.3% | 10.2% | 54.1% | 58.5% | -66.2% | 5.0% | -0.6% | -3.5% | 11.6% |
| Gross margin | - | - | - | - | - | - | 36.6% | 37.1% | 37.0% | 37.1% |
| Operating margin | 10.5% | 22.1% | 9.5% | 6.1% | -15.5% | -91.6% | 7.6% | 6.3% | 10.4% | 12.6% |
| Net margin | -16.3% | -5.1% | -13.1% | -11.3% | -33.2% | -107.0% | -7.6% | -8.9% | -4.7% | -3.1% |
| Return on equity | - | - | - | - | - | - | -42.2% | -28.0% | -10.6% | -5.8% |
| Return on assets | -6.3% | -1.9% | -5.2% | -3.6% | -6.5% | -14.6% | -2.4% | -2.7% | -1.4% | -0.9% |
| Debt to equity | - | - | - | - | - | - | 15.25 | 8.67 | 5.84 | 4.70 |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $273.24M | $267.73M | $258.97M | $266.06M | $302.00M | $277.36M | $275.48M | $276.60M | $316.48M | $303.90M | $319.88M | $343.01M |
| Selling, general and admin | $1.32M | $1.60M | $3.66M | $7.30M | $5.49M | $4.33M | $4.20M | $5.06M | $7.19M | $8.27M | $4.79M | $3.87M |
| Operating income | $196.33M | $13.25M | -$6.63M | $12.22M | $49.30M | $61.53M | -$48.96M | $20.17M | $135.50M | $152.49M | $16.65M | $37.21M |
| Pre-tax income | $131.93M | -$64.70M | -$71.64M | -$62.47M | -$32.32M | -$21.88M | -$131.41M | -$59.57M | $54.27M | $72.71M | -$31.31M | -$64.32M |
| Income tax | $2.55M | $752.0K | -$838.0K | $259.0K | $119.0K | $317.0K | -$2.32M | -$445.0K | $3.46M | $303.0K | -$1.51M | $127.0K |
| Net income | $127.99M | -$63.77M | -$69.32M | -$60.15M | -$30.40M | -$19.97M | -$124.21M | -$57.91M | $50.25M | $71.56M | -$29.40M | -$63.56M |
| EPS, basic | $18.73 | -$11.03 | -$12.85 | -$11.35 | -$6.88 | -$4.91 | - | -$12.39 | $10.20 | $17.45 | -$8.90 | -$19.91 |
| EPS, diluted | $1.62 | -$11.03 | -$12.85 | -$11.35 | -$6.88 | -$4.91 | - | -$12.39 | $2.50 | $5.99 | -$8.90 | -$19.91 |
| Diluted shares | 77.5M | 6.4M | - | 6.1M | 5.9M | 5.7M | - | 5.1M | 18.9M | 11.7M | - | 3.4M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $72.51M | $78.04M | $66.14M | $81.90M | $99.97M | $85.79M | $112.91M | $119.66M | $121.77M | $111.06M | $165.23M | $184.18M |
| Inventory | $2.67M | $3.11M | $3.60M | $3.75M | $3.69M | $3.68M | $3.63M | $3.68M | $3.61M | $3.75M | $3.68M | $3.94M |
| Total assets | $2.33B | $2.61B | $2.83B | $3.01B | $3.06B | $3.08B | $3.16B | $3.27B | $3.35B | $3.54B | $3.46B | $3.72B |
| Total debt | $1.91B | $2.29B | $2.50B | $2.61B | $2.64B | $2.65B | $2.63B | $2.73B | $2.76B | $2.93B | $3.04B | $3.63B |
| Total liabilities | $2.64B | $3.04B | $3.21B | $3.31B | $3.31B | $3.30B | $3.37B | $3.36B | $3.40B | $3.67B | $3.69B | $3.93B |
| Shareholders' equity | -$570.88M | -$680.30M | -$626.35M | -$548.74M | -$473.31M | -$434.42M | -$405.83M | -$271.55M | -$207.98M | -$259.88M | -$331.04M | -$298.00M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$7.40M | $29.52M | -$12.51M | $5.49M | $16.34M | -$24.99M | $14.10M | $795.0K | $7.96M | -$46.45M | -$21.66M | $760.0K |
| Investing cash flow | $358.71M | $197.13M | $57.63M | $27.31M | $6.32M | $99.50M | -$20.58M | -$21.46M | $250.14M | -$16.81M | -$23.84M | -$16.29M |
| Financing cash flow | -$360.38M | -$222.04M | -$77.55M | -$39.82M | $8.21M | -$70.01M | -$6.99M | $8.34M | -$260.23M | $133.0K | $111.0K | -$49.09M |
| Dividends paid | $0 | $0 | $6.22M | $6.12M | $5.97M | $5.65M | $5.67M | $5.23M | $4.88M | $4.59M | $4.29M | $3.98M |
| Share repurchases | $0 | $2.0K | $40.0K | $0 | $4.0K | $0 | $0 | $0 | $49.0K | $0 | $0 | $0 |
| Stock-based compensation | $28.0K | $28.0K | -$224.0K | -$704.0K | $221.0K | -$54.0K | $566.0K | $244.0K | $723.0K | $564.0K | -$347.0K | $1.49M |
| Depreciation and amortization | $28.63M | $32.01M | $34.09M | $34.59M | $35.28M | $37.34M | $37.30M | $37.74M | $37.19M | $40.54M | $46.84M | $45.95M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -9.5% | -3.5% | -6.0% | -3.8% | -4.6% | -8.7% | -13.9% | -19.4% | -15.8% | -7.6% | 0.8% | 4.5% |
| Operating margin | 71.9% | 4.9% | -2.6% | 4.6% | 16.3% | 22.2% | -17.8% | 7.3% | 42.8% | 50.2% | 5.2% | 10.8% |
| Net margin | 46.8% | -23.8% | -26.8% | -22.6% | -10.1% | -7.2% | -45.1% | -20.9% | 15.9% | 23.5% | -9.2% | -18.5% |
Source: XBRL data Ashford Hospitality Trust Inc files with the SEC, latest filing dated Aug 12, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures and share counts are restated for stock splits the filings show: 1-for-10, first reported Aug 3, 2020; 1-for-10, first reported Aug 6, 2021; 1-for-10, first reported Nov 12, 2024.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| AHT | $1.07B | -5.8% | -$65.25M | -6.1% | $15.3M |
| WELL | $13.79B | +39.2% | $1.67B | 12.1% | $181.46B |
| PLD | $8.95B | +6.7% | $3.71B | 41.5% | $124.09B |
| EQIX | $10.06B | +11.1% | $1.65B | 16.4% | $104.38B |
| AMT | $11.01B | +5.3% | $3.31B | 30.1% | $87.65B |
| SPG | $7.15B | +16.2% | $4.51B | 63.0% | $75.39B |
| DLR | $6.34B | +12.6% | $1.38B | 21.7% | $68.13B |
| PSA | $5.03B | +5.2% | $1.90B | 37.8% | $63.18B |
| O | $6.21B | +10.8% | $1.36B | 21.8% | $56.58B |