Ashford Hospitality Trust, Inc. (AHT) Financial Statements
$3.23NYSE: AHTMarket Cap $20.92M
Ashford Hospitality Trust, Inc. most recently reported annual revenue of $1.1B, a net loss of $180.0M. Revenue grew at an average annual rate of 16.8% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.
Ashford Hospitality Trust, Inc.: Revenue fell from $1.5B in 2016 to $1.1B in 2025, a change of -26.0% over 9 years; net profit was positive in 0 of 10 reported years; operating margin moved from 10.4% to 5.4%, a shift of -5.0 percentage points; the most recent year shows a net loss of $180.0M.
Income Statement — 10 Years (USD millions)
Metric
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Revenue
$1.5B
$1.4B
$1.4B
$1.5B
$508.0M
$805.0M
$1.2B
$1.4B
$1.2B
$1.1B
Operating Expenses
$1.3B
$1.3B
$1.3B
$1.4B
$974.0M
$931.0M
$1.2B
$1.2B
$913.0M
$1.0B
Operating Profit
$156.0M
$135.0M
$90.0M
$115.0M
$-465.0M
$-125.0M
$76.0M
$130.0M
$259.0M
$60.0M
Operating Margin
10.4%
9.4%
6.3%
7.6%
-91.6%
-15.5%
6.2%
9.5%
22.1%
5.4%
Other Income
$-245.0M
$-240.0M
$-244.0M
$-256.0M
$-169.0M
$-140.0M
$-211.0M
$-310.0M
$-323.0M
$-248.0M
Interest
$224.0M
$223.0M
$237.0M
$262.0M
$247.0M
$156.0M
$227.0M
$366.0M
$319.0M
$295.0M
Depreciation
$1.3B
$1.3B
$1.3B
$269.0M
$252.0M
$219.0M
$202.0M
$188.0M
$153.0M
$141.0M
Profit Before Tax
$-57.0M
$-91.0M
$-154.0M
$-141.0M
$-635.0M
$-265.0M
$-135.0M
$-180.0M
$-64.0M
$-188.0M
Tax
$-2.7M
$2.4M
$-1.8M
$-860,000
$210,000
$-2.2M
$-4.7M
$-500,000
$-1.6M
$-80,000
Net Profit
$-46.0M
$-67.0M
$-127.0M
$-114.0M
$-544.0M
$-267.0M
$-140.0M
$-178.0M
$-60.0M
$-180.0M
EPS
$-490.17
$-703.81
$-1305.16
$-1429.12
$-4018.93
$-79.64
$-41.08
$-5.17
$-17.54
$-31.54
Dividend Payout
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Quarterly Results — Last 12 Quarters (USD millions)
8 duplicate period labels in the source data were collapsed.
Metric
Jun '23
Sep '23
Dec '23
Mar '24
Jun '24
Sep '24
Dec '24
Mar '25
Jun '25
Sep '25
Dec '25
Mar '26
Revenue
$376.0M
$343.0M
$320.0M
$304.0M
$316.0M
$277.0M
$275.0M
$277.0M
$302.0M
$266.0M
$259.0M
$268.0M
Operating Expenses
$323.0M
$306.0M
$303.0M
$151.0M
$181.0M
$256.0M
$324.0M
$216.0M
$253.0M
$262.0M
$252.0M
$249.0M
Operating Profit
$53.0M
$37.0M
$17.0M
$152.0M
$136.0M
$20.0M
$-49.0M
$62.0M
$49.0M
$4.0M
$7.0M
$19.0M
Operating Margin
14.1%
10.8%
5.2%
50.2%
42.8%
7.3%
-17.8%
22.2%
16.3%
1.6%
2.8%
7.0%
Interest
$90.0M
$99.0M
$96.0M
$86.0M
$80.0M
$78.0M
$75.0M
$77.0M
$81.0M
$73.0M
$65.0M
$81.0M
Profit Before Tax
$-23.0M
$-64.0M
$-31.0M
$73.0M
$54.0M
$-60.0M
$-131.0M
$-22.0M
$-32.0M
$-62.0M
$-72.0M
$-65.0M
Tax
$-9.0M
$-200,000
$4.8M
$420,000
$6.4M
$750,000
$1.8M
$-1.4M
$-370,000
$-410,000
$1.2M
$-1.2M
Net Profit
$-25.0M
$-64.0M
$-29.0M
$72.0M
$50.0M
$-58.0M
$-124.0M
$-20.0M
$-30.0M
$-60.0M
$-69.0M
$-64.0M
EPS
$-7.46
$-18.45
$-8.44
$5.80
$5.99
$-12.39
$-23.83
$-4.91
$-6.88
$-11.35
$-11.41
$-9.93
Over the 10 years reported for Ashford Hospitality Trust, Inc., borrowings decreased from $3.7B in 2016 to $2.9B in 2025, cash stood at $66.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 0.26 times.
Balance Sheet — 10 Years (USD millions)
Metric
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Total Assets
$4.9B
$4.7B
$4.7B
$4.7B
$3.7B
$4.1B
$3.9B
$3.5B
$3.2B
$2.8B
Current Assets
$644.0M
$602.0M
$545.0M
$498.0M
$238.0M
$789.0M
$663.0M
$415.0M
$759.0M
$286.0M
Cash
$347.0M
$355.0M
$319.0M
$263.0M
$93.0M
$592.0M
$417.0M
$165.0M
$113.0M
$66.0M
Inventory
$5.0M
$4.0M
$4.0M
$4.0M
$2.0M
$3.0M
$4.0M
$4.0M
$4.0M
$4.0M
Receivables
$58.0M
$62.0M
$59.0M
$40.0M
$22.0M
$81.0M
$84.0M
$75.0M
$434.0M
$33.0M
Fixed Assets
$4.2B
$4.0B
$4.1B
$4.2B
$3.5B
$45.0M
$44.0M
$44.0M
$44.0M
$44.0M
Capital Work in Progress
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Investments
$112.0M
$30.0M
$26.0M
$19.0M
$4.0M
$11.0M
$20.0M
$10.0M
$8.0M
$2.1B
Other Assets
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Total Liabilities
$4.0B
$3.9B
$4.2B
$4.4B
$4.0B
$4.1B
$4.0B
$3.7B
$3.4B
$3.2B
Current Liabilities
$209.0M
$190.0M
$191.0M
$164.0M
$213.0M
$138.0M
$136.0M
$195.0M
$332.0M
$1.1B
Borrowings
$3.7B
$3.7B
$3.9B
$4.2B
$3.8B
$3.9B
$3.9B
$3.1B
$2.7B
$2.9B
Other Liabilities
$243.0M
$224.0M
$225.0M
$192.0M
$221.0M
$145.0M
$142.0M
$582.0M
$681.0M
$284.0M
Equity
$1.0M
$1.0M
$1.0M
$0
$0
$0
$0
$0
$0
$0
Reserves
$792.0M
$633.0M
$452.0M
$269.0M
$-284.0M
$-3.0M
$-148.0M
$-261.0M
$-248.0M
$-409.0M
For Ashford Hospitality Trust, Inc., operating cash flow was positive in 6 of 10 reported years; free cash flow in the latest year was negative at $22.0M; free cash flow was positive in 5 of 10 years; financing activities used $45.0M in the latest year, which covers debt repayment, dividends and buybacks.
Cash Flow Statement — 10 Years (USD millions)
Metric
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Operating Cash Flow
$175.0M
$207.0M
$182.0M
$177.0M
$-150.0M
$-144.0M
$39.0M
$14.0M
$-24.0M
$-16.0M
Investing Cash Flow
$-8.0M
$-64.0M
$-330.0M
$-254.0M
$-24.0M
$-34.0M
$-202.0M
$-90.0M
$191.0M
$120.0M
Financing Cash Flow
$-137.0M
$-220.0M
$-44.0M
$-12.0M
$-27.0M
$-30.0M
$-41.0M
$25.0M
$-7.0M
$-45.0M
Net Cash Flow
$132.0M
$-20.0M
$-32.0M
$-42.0M
$-231.0M
$524.0M
$-133.0M
$-247.0M
$-91.0M
$-4.0M
Free Cash Flow
$175.0M
$207.0M
$181.0M
$177.0M
$-150.0M
$-144.0M
$-65.0M
$14.0M
$-24.0M
$-22.0M
Valuation & Return Ratios
Metric
Value
PEG Ratio
0.00
EV / EBITDA
12.43
FCF Yield
104.93%
Quick Ratio
0.13
Interest Coverage
0.27
Return 1Y
-51.86%
Return 3Y
-91.59%
Return 5Y
-98.23%
Ashford Hospitality Trust, Inc. (AHT) financials — frequently asked questions
What is Ashford Hospitality Trust, Inc.'s annual revenue?
Ashford Hospitality Trust, Inc. (AHT) reported annual revenue of $1.1B in its most recent fiscal year.
What is Ashford Hospitality Trust, Inc.'s net profit?
Ashford Hospitality Trust, Inc. (AHT) reported a net loss of $180.0M in its most recent fiscal year.
What is AHT EV/EBITDA?
Ashford Hospitality Trust, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 12.43.