Latest Ratios: P/E Ratio -0.1x · EV/EBITDA 14.3x · ROE N/A. (2001–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $17M | $25M | $34M | $67M | $153M | $327M | $41M | $279M | $384M | $633M | $723M |
| Enterprise Value | $2.9B | $2.9B | $2.6B | $3.0B | $3.6B | $3.7B | $3.7B | $4.2B | $4.0B | $4.0B | $4.1B |
| P/E Ratio → | -0.08 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.01 | 0.02 | 0.03 | 0.05 | 0.12 | 0.41 | 0.08 | 0.19 | 0.27 | 0.44 | 0.48 |
| P/B Ratio | — | — | — | — | — | 16.27 | — | 0.82 | 0.72 | 0.84 | 0.78 |
| P/FCF | — | — | — | 4.87 | — | — | — | 1.58 | 2.12 | 3.05 | 4.13 |
| P/OCF | — | — | — | 4.67 | 3.91 | — | — | 1.57 | 2.12 | 3.05 | 4.13 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.61 | 2.23 | 2.20 | 2.93 | 4.55 | 7.32 | 2.78 | 2.79 | 2.76 | 2.75 |
| EV / EBITDA | 14.28 | 14.33 | 6.34 | 9.45 | 13.08 | 39.09 | — | 10.89 | 2.83 | 2.76 | 2.78 |
| EV / EBIT | 47.99 | 26.94 | 10.25 | 16.13 | 39.43 | — | — | 34.64 | 47.95 | 30.19 | 24.59 |
| EV / FCF | — | — | — | 217.98 | — | — | — | 23.63 | 22.03 | 19.18 | 23.42 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -0.6% | -0.6% | 20.0% | 23.6% | 23.2% | 13.5% | -11.0% | 26.8% | 26.7% | 28.9% | 29.1% |
| Operating Margin | 5.4% | 5.4% | 22.1% | 9.5% | 6.1% | -15.5% | -91.6% | 7.6% | 6.3% | 9.4% | 10.4% |
| Net Profit Margin | -16.3% | -16.3% | -5.1% | -13.1% | -11.3% | -33.2% | -107.0% | -7.6% | -8.9% | -4.7% | -3.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | -1329.2% | -1383.3% | -26.0% | -19.8% | -8.0% | -5.0% |
| ROA | -6.0% | -6.0% | -1.8% | -4.8% | -3.5% | -6.8% | -12.9% | -2.4% | -2.7% | -1.4% | -0.9% |
| ROIC | 1.9% | 1.9% | 7.7% | 3.2% | 1.7% | -2.8% | -9.1% | 2.1% | 1.6% | 2.4% | 2.6% |
| ROCE | 2.6% | 2.6% | 8.5% | 3.7% | 2.0% | -3.3% | -11.6% | 2.5% | 2.0% | 2.9% | 3.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | 195.78 | — | 12.27 | 7.36 | 4.93 | 4.02 |
| Debt / EBITDA | 14.53 | 14.53 | 6.53 | 9.75 | 14.03 | 41.92 | — | 10.85 | 2.78 | 2.57 | 2.53 |
| Net Debt / Equity | — | — | — | — | — | 166.31 | — | 11.49 | 6.76 | 4.46 | 3.65 |
| Net Debt / EBITDA | 14.20 | 14.20 | 6.26 | 9.23 | 12.53 | 35.61 | — | 10.16 | 2.56 | 2.32 | 2.29 |
| Debt / FCF | — | — | — | 213.11 | — | — | — | 22.05 | 19.91 | 16.13 | 19.29 |
| Interest Coverage | 0.36 | 0.36 | 0.80 | 0.51 | 0.41 | -0.70 | -1.57 | 0.46 | 0.35 | 0.59 | 0.74 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.26 | 0.26 | 2.28 | 2.13 | 4.89 | 5.71 | 1.12 | 3.03 | 2.86 | 3.17 | 3.09 |
| Quick Ratio | 0.26 | 0.26 | 2.27 | 2.11 | 4.86 | 5.69 | 1.11 | 3.01 | 2.84 | 3.15 | 3.06 |
| Cash Ratio | 0.06 | 0.06 | 0.34 | 0.85 | 3.07 | 4.29 | 0.44 | 1.60 | 1.79 | 2.01 | 1.92 |
| Asset Turnover | — | 0.39 | 0.37 | 0.39 | 0.32 | 0.20 | 0.14 | 0.32 | 0.31 | 0.31 | 0.31 |
| Inventory Turnover | 308.60 | 308.60 | 258.35 | 283.93 | 247.21 | 211.80 | 230.65 | 253.20 | 248.12 | 241.05 | 233.61 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 100.0% | 94.1% | 60.2% | 22.2% | 8.1% | 5.7% | 70.1% | 31.0% | 25.4% | 16.1% | 12.6% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | 20.5% | — | — | — | 63.4% | 47.2% | 32.7% | 24.2% |
| Buyback Yield | 0.3% | 0.2% | 0.1% | 0.3% | 0.2% | 0.0% | 1.0% | 0.4% | 0.4% | 34.7% | 16.1% |
| Total Shareholder Yield | 100.0% | 94.3% | 60.3% | 22.5% | 8.3% | 5.7% | 71.1% | 31.3% | 25.8% | 50.8% | 28.7% |
| Shares Outstanding | — | $6M | $5M | $3M | $3M | $3M | $157560 | $99837 | $97280 | $95207 | $94426 |
Includes 30+ ratios · 25 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying AHT stock.
Ashford Hospitality Trust, Inc.'s current P/E ratio is -0.1x. The historical average is 47.8x.
Ashford Hospitality Trust, Inc.'s current EV/EBITDA is 14.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.0x.
Based on historical data, Ashford Hospitality Trust, Inc. is trading at a P/E of -0.1x. Compare with industry peers and growth rates for a complete picture.
Ashford Hospitality Trust, Inc.'s current dividend yield is 100.00%.
Ashford Hospitality Trust, Inc. has -0.6% gross margin and 5.4% operating margin.
Ashford Hospitality Trust, Inc.'s Debt/EBITDA ratio is 14.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
High leverage liquidity constraints
Metrics are mathematically derived from official filings.
Distressed Valuation Reflects Capital Risk
As reported in recent financial statements, AHT's P/FFO multiple remains deeply negative at -68.11x as of 2026Q1, a valuation anomaly that suggests the market is pricing the equity as a distressed option rather than a traditional income-generating real estate vehicle due to persistent earnings deficits.
The negative P/FFO multiple indicates that the company is currently unable to generate positive funds from operations, rendering standard REIT valuation metrics largely inapplicable. Investors should monitor the implied cap rate, as the current enterprise value relative to NOI suggests that the market is heavily discounting the portfolio's future cash-generating potential.
NOI Margin Compression Signals Headwinds
Based on the provided quarterly data, AHT's NOI margin collapsed to 2.9% in 2026Q1 from a 25.5% peak in 2024Q2, illustrating a severe inability to maintain property-level profitability amidst rising operational costs and the structural burden of the company's external advisory fee arrangement.
The rapid deterioration in margins suggests that the firm's full-service hotel assets are struggling to absorb inflationary pressures, which may indicate that the current operating model is not scalable under existing market conditions. This trend warrants further investigation into whether the advisory fee structure is creating a permanent drag on property-level performance.
Dividend Sustainability Remains Highly Uncertain
According to the company's reported figures, the FFO payout ratio has fluctuated wildly, reaching 122.3% in 2025Q2 before becoming non-calculable in subsequent quarters, which highlights the complete lack of a sustainable dividend coverage buffer for common shareholders in the current fiscal environment.
The inability to maintain a consistent, positive FFO payout ratio suggests that any dividend distributions are likely being funded by non-operating sources, such as asset sales or debt, rather than recurring cash flow. This pattern appears to indicate that the dividend is not supported by the underlying hotel operations.
P/E Ratio Misleads REIT Investors
As noted in institutional research, the P/E ratio is the most commonly misapplied metric for AHT, as it fails to account for the significant non-cash depreciation charges inherent in hotel ownership, which artificially depress net income and obscure the company's actual cash-generating capacity.
Using P/E to evaluate AHT ignores the fundamental reality that depreciation is a non-cash accounting entry that does not reflect the capital-intensive nature of maintaining full-service assets. Analysts should instead focus on FFO or AFFO, which provide a more accurate representation of the cash available for debt service and potential distributions.