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Saturday 7 November 2026
Export AHT’s income statement to Excel — free account
Ashford Hospitality Trust Inc
AHT Real Estate Reit Hotel & Motel
Ashford Hospitality Trust Inc’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, down 5.81% from fiscal 2024.
- Revenue
- −9.52%
- EPS
- +372.2%
- Free cash flow
- +9,699.8%
- Total debt
- −26.4%
Quarter to June 2026, against a year earlier
2.36
0.07
−2.88%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 1,492 | 1,439 | 1,431 | 1,503 | 508 | 805 | 1,241 | 1,368 | 1,172 | 1,104 | 1,066 | (3.3%) | 1,097 | — | — | (0.7%) | |
| Gross margin, % | 32.18 | 31.85 | 31.58 | 31.01 | (1.20) | 19.95 | 27.20 | 27.19 | 24.99 | 25.02 | 25.50 | (7.2) pt | ||||||
| EBT | (57) | (91) | (154) | (141) | (635) | (265) | (135) | (180) | (64) | (188) | (67) | +14.1% | ||||||
| EBT margin, % | (3.84) | (6.32) | (10.73) | (9.41) | (124.85) | (32.91) | (10.86) | (13.15) | (5.46) | (17.05) | (6.27) | (13.2) pt | ||||||
| Net income | (59) | (89) | (156) | (143) | (633) | (271) | (141) | (181) | (65) | (188) | (70) | +13.8% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 15,805.54 | 15,118.38 | 14,704.92 | 15,057.71 | 3,224.86 | 372.44 | 361.35 | 396.16 | 249.14 | 184.87 | 165.45 | (39.0%) | |||||
| Earnings | (950.00) | (1,300.00) | (1,750.00) | (1,580.00) | (3,300.00) | (123.70) | (44.60) | (56.10) | (17.54) | (35.99) | (15.98) | (30.5%) | ||||||
| Cash flow | 1,903.85 | 2,178.38 | 1,865.98 | 1,775.64 | (948.80) | (66.68) | 11.42 | 4.17 | (5.01) | (2.62) | 2.34 | n/m | ||||||
| Capex | (236.08) | (1,225.77) | (1,713.22) | (566.57) | (47.23) | (12.82) | (20.02) | (31.35) | 40.80 | 28.67 | 99.30 | n/m | ||||||
| Free cash flow | 1,667.76 | 952.62 | 152.76 | 1,209.07 | (996.03) | (79.50) | (8.60) | (27.18) | 35.79 | 26.05 | 101.64 | (37.0%) | ||||||
| Book value | 8,393.82 | 6,650.69 | 4,656.78 | 2,698.06 | (1,798.57) | (1.23) | (43.79) | (95.90) | (86.24) | (102.25) | (86.38) | n/m | ||||||
| Shares, m | 0 | 0 | 0 | 0 | 0 | 2 | 3 | 3 | 5 | 6 | 6 | +58.5% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | 0.50 | 0.45 | 0.27 | 0.19 | 0.08 | 0.26 | 0.12 | 0.05 | 0.03 | 0.02 | 0.01 | 0.2 | ||||||
| P/B | 0.94 | 1.03 | 0.86 | 1.03 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.4 | ||||||
| EV/Sales | 2.63 | 2.69 | 2.69 | 2.64 | 7.09 | 4.23 | 2.78 | 2.32 | 2.38 | 2.36 | 1.86 | 3.2 | ||||||
| EV/FCF | 24.94 | 42.73 | 259.34 | 32.92 | (22.95) | (19.80) | (116.70) | (33.76) | 16.56 | 16.77 | 3.03 | 20.0 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 180 | 207 | 182 | 177 | (150) | (144) | 39 | 14 | (24) | (16) | 15 | n/m | |||||
| Capex | (22) | (117) | (167) | (57) | (7) | (28) | (69) | (108) | 192 | 171 | 640 | n/m | ||||||
| Free cash flow | 157 | 91 | 15 | 121 | (157) | (172) | (30) | (94) | 168 | 156 | 655 | (0.1%) | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 450 | 375 | 357 | 322 | 8 | 639 | 505 | 226 | 76 | 62 | 21 | (19.8%) | |||||
| Net debt | 3,179 | 3,225 | 3,466 | 3,694 | 3,562 | 3,196 | 3,298 | 3,103 | 2,749 | 2,601 | 1,970 | (2.2%) | ||||||
| Shareholders’ equity | 792 | 633 | 453 | 269 | (283) | (3) | (150) | (331) | (406) | (611) | (557) | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (1.80) | (2.56) | (3.62) | (3.36) | (12.36) | (6.84) | (3.82) | (5.25) | (2.49) | (7.17) | (3.62) | (5.4) pt | |||||
| ROIC | 2.95 | 2.41 | 1.44 | 1.81 | (8.87) | (2.45) | 1.51 | 2.94 | 6.91 | 3.66 | 9.51 | +0.7 pt | ||||||
| ROE | (11.06) | (17.20) | (31.23) | (43.63) | 7,146.51 | 187.10 | 200.04 | 80.44 | 22.39 | 42.29 | 18.97 | +53.3 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | 102 | — | 116 | 96 | 119 | 102 | 105 | 101 | 82 | — | (2.7%) | |||||
| Revenue/emp, $m | 0.00 | 14.11 | 0.00 | 12.95 | 5.29 | 6.77 | 12.17 | 13.02 | 11.61 | 13.47 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Ashford Hospitality Trust Inc vs peers in Reit Hotel & Motel (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| SHO Sunstone Hotel Investors, Inc. | $2.3B | 27.7× | 46.6× | +1.92% (above 0%: growing) | n/m | +36.23% (above 0%: growing) | 0.00% | 7.62% | Compare |
| XHR Xenia Hotels & Resorts, Inc. | $2.0B | 552× | — (loss-making) | +11.60% (above 0%: growing) | n/m | +45.88% (above 0%: growing) | 58.12% | 6.17% | Compare |
| RLJ RLJ Lodging Trust | $1.9B | 208× | 631× | +7.40% (above 0%: growing) | n/m | +106.37% (above 0%: growing) | 0.00% | 8.53% | Compare |
| INN Summit Hotel Properties, Inc. | $834.4M | — (loss-making) | — (loss-making) | +4.85% (above 0%: growing) | n/m | +99.38% (above 0%: growing) | 32.54% | 8.80% | Compare |
| SVC Service Properties Trust | $712.3M | — (loss-making) | — (loss-making) | −16.55% (below 0%: shrinking) | n/m | −72.13% (below 0%: shrinking) | 35.98% | (0.08%) | Compare |
| CLDT Chatham Lodging Trust (REIT) | $703.1M | 73.5× | — (loss-making) | +15.96% (above 0%: growing) | +434.33% (above 0%: growing) | +33.77% (above 0%: growing) | 57.04% | 15.73% | Compare |
| BHR BRAEMAR HOTELS & RESORTS INC. | $105.8M | — (loss-making) | — (loss-making) | −29.24% (below 0%: shrinking) | n/m | −337.01% (below 0%: shrinking) | 0.00% | (240.02%) | Compare |
| AHT Ashford Hospitality Trust Inc | $15.7M | — (loss-making) | — (loss-making) | −9.52% (below 0%: shrinking) | n/m | +9,699.83% (above 0%: growing) | 30.60% | 71.85% | |
| IHT InnSuites Hospitality Trust | $13.7M | — (loss-making) | 29.0× | +2.10% (above 0%: growing) | n/m | +49.83% (above 0%: growing) | 48.37% | (9.81%) | Compare |
| Median of peers | $773.3M | 141× | 46.6× | +3.48% | — | +41.05% | 34.26% | 6.90% |
Pay and ownership Proxy statement filed 31 March 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 5.02m | 4.90m | 9.53 |
Ownership
Directors and executive officers, together
1.10%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement