Ashford Hospitality Trust, Inc. (AHT) Key Metrics
AHT valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $12.2M
- Enterprise value
- $2.13B
- P/E (TTM)
- —
- Forward P/E
- 1.7
- PEG ratio
- 0.86
- Price / sales
- 0.0 10-yr median 0.0
- Price / book
- 0.3
- EV / EBITDA
- 6.2 10-yr median 9.8
- Dividend yield
- —
- Beta
- 1.82
AHT key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsAHT valuation Price multiples at each fiscal year-end price.
AHT returns How much profit the business earns on the capital it uses.
AHT per-share figures Results divided by the shares outstanding at year-end.
AHT financial health Debt, liquidity and how easily interest is covered.
AHT efficiency & capital use Working capital cycle and where the cash goes.
AHT valuation history
AHT returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
AHT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
AHT cash returned to shareholders
AHT price vs earnings per share
AHT key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $25.4M | $33.8M | $67.2M | — | $2.10B | $408.1M | — | — | — | — |
| Enterprise value | $2.88B | $2.61B | $3.01B | — | $8.65B | $6.95B | — | — | — | — |
| Price / sales | 0.0 | 0.0 | 0.0 | — | 2.6 | 0.8 | — | — | — | — |
| Price / book | — | — | — | — | 104.4 | — | — | — | — | — |
| Price / free cash flow | — | — | 4.9 | — | — | — | — | — | — | — |
| Price / operating cash flow | — | — | 4.7 | — | — | — | — | — | — | — |
| EV / sales | 2.6 | 2.2 | 2.2 | — | 10.7 | 13.7 | — | — | — | — |
| EV / EBITDA | 11.7 | 6.4 | 8.0 | — | 78.6 | — | — | — | — | — |
| EV / free cash flow | — | — | 218.0 | — | — | — | — | — | — | — |
| Earnings yield | −706.7% | −178.2% | −265.6% | — | −12.7% | −133.3% | — | — | — | — |
| Free cash flow yield | −61.6% | −70.3% | 20.5% | — | −6.9% | −40.4% | — | — | — | — |
| Dividend yield | 94.1% | 60.2% | 22.2% | — | 0.9% | 7.0% | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 94.3% | 60.3% | 22.5% | — | 0.9% | 7.1% | — | — | — | — |
| Share price at fiscal year-end | $4.26 | $7.19 | $19.40 | $44.70 | $96.00 | $259.00 | $2,790.00 | $3,952.57 | $6,650.20 | $7,667.98 |
| Per share | ||||||||||
| Revenue per share | $184.87 | $249.14 | $394.80 | — | $36.87 | $322.57 | — | — | — | — |
| Earnings per share | −$30.10 | −$12.81 | −$51.53 | — | −$12.22 | −$345.19 | — | — | — | — |
| Operating cash flow per share | −$2.62 | −$5.01 | $4.15 | — | −$6.60 | −$94.90 | — | — | — | — |
| Free cash flow per share | −$2.62 | −$5.06 | $3.98 | — | −$6.60 | −$104.67 | — | — | — | — |
| Cash per share | $11.11 | $23.99 | $47.70 | — | $27.11 | $58.96 | — | — | — | — |
| Book value per share | −$68.51 | −$52.63 | −$75.39 | — | $0.92 | −$165.34 | — | — | — | — |
| Tangible book value per share | −$68.51 | −$52.80 | −$75.62 | — | $0.88 | −$165.84 | — | — | — | — |
| Dividends per share | $4.01 | $4.33 | $4.31 | — | $0.85 | $18.16 | — | — | — | — |
| Capex per share | $11.91 | $0.04 | $0.17 | — | $0.00 | $9.77 | — | — | — | — |
| Debt per share | $489.21 | $571.96 | $896.17 | — | $327.04 | $4,209.00 | — | — | — | — |
| Shares outstanding | 6.0M | 4.7M | 3.5M | — | 21.8M | 1.6M | — | — | — | — |
| Change in shares outstanding | +26.9% | +35.9% | — | — | +1,286.4% | — | — | — | — | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | — | — | — | — | — | — | −26.0% | −19.8% | −8.0% | −5.0% |
| Return on invested capital (ROIC) | 2.0% | 8.2% | 3.4% | 1.2% | −1.5% | −5.4% | 1.5% | 1.2% | 1.6% | 2.0% |
| Return on assets (ROA) | −6.0% | −1.8% | −4.8% | −3.5% | −6.8% | −12.9% | −2.4% | −2.7% | −1.4% | −0.9% |
| Return on tangible assets | −6.3% | −1.9% | −5.2% | −3.6% | −6.5% | −14.6% | −2.4% | −2.7% | −1.4% | −0.9% |
| Free cash flow margin | −1.4% | −2.0% | 1.0% | 3.2% | −17.9% | −32.4% | 11.8% | 12.7% | 14.4% | 11.7% |
| Financial health | ||||||||||
| Total debt | $2.92B | $2.69B | $3.10B | $3.92B | $7.14B | $6.63B | $7.39B | $4.60B | $6.37B | $6.48B |
| Cash & short-term investments | $66.3M | $112.9M | $165.2M | $417.1M | $592.1M | $92.9M | $277.2M | $341.0M | $381.7M | $400.3M |
| Net debt | $2.86B | $2.58B | $2.94B | $3.50B | $6.55B | $6.54B | $7.11B | $4.26B | $5.99B | $6.08B |
| Debt / equity | — | — | — | — | 355.63 | — | 21.78 | 8.61 | 8.50 | 7.01 |
| Debt / assets | 1.03 | 0.85 | 0.90 | 1.00 | 1.74 | 1.78 | 1.57 | 0.98 | 1.36 | 1.33 |
| Net debt / EBITDA | 11.56 | 6.33 | 7.86 | 11.91 | 59.56 | — | 18.25 | 12.46 | 15.83 | 14.82 |
| Current ratio | 0.26 | 2.28 | 2.13 | 4.89 | 5.71 | 1.10 | 3.08 | 2.86 | 3.17 | 3.09 |
| Quick ratio | 0.26 | 2.27 | 2.11 | 4.86 | 5.69 | 1.08 | 3.06 | 2.84 | 3.15 | 3.06 |
| Interest coverage | 0.2 | 0.8 | 0.4 | 0.3 | -0.8 | -1.9 | 0.4 | 0.4 | 0.6 | 0.7 |
| Working capital | −$794.3M | $426.1M | $219.9M | $527.6M | $651.0M | $20.3M | $342.5M | $354.1M | $412.0M | $435.2M |
| Invested capital | $2.45B | $2.33B | $2.68B | $3.37B | $6.57B | $6.28B | $7.45B | $4.79B | $6.74B | $7.01B |
| Tangible asset value | −$373.2M | −$212.6M | −$225.1M | −$129.6M | $19.3M | −$261.3M | $338.3M | $524.0M | $739.3M | $915.1M |
| Net current asset value | −$2.92B | −$2.61B | −$3.27B | −$3.38B | −$3.29B | −$3.76B | −$3.85B | −$3.61B | −$3.32B | −$3.32B |
| Graham net-net per share | −$521.29 | −$623.15 | −$999.92 | — | −$156.73 | −$2,454.21 | — | — | — | — |
| Capital allocation | ||||||||||
| Dividends paid | $24.0M | $20.4M | $14.9M | $12.4M | $18.6M | $28.6M | $86.2M | $97.4M | $101.6M | $91.5M |
| Share buybacks (net) | $44,000 | $49,000 | $168,000 | $316,000 | $46,000 | $399,000 | $1.0M | $1.6M | $219.7M | $116.5M |
| Dividends + buybacks / free cash flow | — | — | 109.6% | 32.5% | — | — | 49.4% | 54.7% | 155.1% | 118.8% |
| Capex / revenue | 6.4% | 0.0% | 0.0% | 8.4% | 0.0% | 3.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / operating cash flow | — | — | 4.2% | 264.5% | — | — | 0.3% | 0.2% | 0.1% | 0.0% |
| Capex / depreciation | 0.51 | 0.00 | 0.00 | 0.51 | 0.00 | 0.06 | 0.00 | 0.00 | 0.00 | 0.00 |
| Stock-based compensation / revenue | −0.1% | 0.2% | 0.3% | 0.5% | 1.2% | 2.1% | 1.3% | 1.9% | 0.9% | 0.6% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 1.9% | 2.1% | 2.0% | 1.6% | 2.8% | 6.4% | 1.4% | 1.4% | 1.4% | 1.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 77.1 | 79.2 | 21.2 | 24.3 | 28.6 | 40.6 | 15.4 | 15.4 | 15.2 | 15.4 |
| Days of inventory on hand | 1.2 | 1.4 | 1.3 | 1.4 | 1.5 | 2.2 | 1.4 | 1.5 | 1.6 | 1.6 |
| Days payables outstanding | 43.1 | 51.9 | 42.9 | 44.7 | 57.0 | 75.8 | 45.0 | 46.9 | 46.3 | 43.2 |
| Cash conversion cycle (days) | 35.2 | 28.7 | -20.3 | -19.1 | -26.9 | -33.0 | -28.2 | -30.0 | -29.5 | -26.2 |
| Receivables turnover | 4.73 | 4.61 | 17.21 | 15.02 | 12.78 | 9.00 | 23.75 | 23.75 | 24.06 | 23.77 |
| Payables turnover | 8.47 | 7.03 | 8.52 | 8.16 | 6.41 | 4.82 | 8.12 | 7.79 | 7.89 | 8.45 |
| Inventory turnover | 307.23 | 256.65 | 277.26 | 266.75 | 242.95 | 166.17 | 256.81 | 247.53 | 233.19 | 226.60 |
| Asset turnover | 0.37 | 0.35 | 0.37 | 0.31 | 0.21 | 0.12 | 0.32 | 0.31 | 0.30 | 0.30 |
| Average receivables | $233.4M | $254.3M | $79.5M | $82.6M | $63.0M | $56.5M | $63.3M | $60.2M | $59.8M | $62.8M |
| Average payables | $131.1M | $133.4M | $122.6M | $116.8M | $108.8M | $117.1M | $135.5M | $134.6M | $129.7M | $125.2M |
| Average inventory | $3.6M | $3.7M | $3.8M | $3.6M | $2.9M | $3.4M | $4.3M | $4.2M | $4.4M | $4.7M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.2% | 0.2% |
Computed from AHT's annual financial statements (latest annual report filed March 23, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
AHT valuation and financial ratios
Ashford Hospitality earned a return on invested capital of 2.0% in fiscal 2025. It ended the year with $2.9 billion of debt and $66.3 million in cash and short-term investments, net debt of $2.9 billion. It returned $24.0 million to shareholders: $24.0 million in dividends and $0.0 million in share buybacks.
See the AHT income statement, the AHT chart for price history, or the AHT stock overview for the latest quote and news.
AHT key metrics FAQ
What is Ashford Hospitality's EV/EBITDA?
Ashford Hospitality's enterprise value was 11.7 times EBITDA at the end of fiscal 2025 (enterprise value $2.9 billion, EBITDA $247.1 million); the current EV/EBITDA is 6.2.
What is Ashford Hospitality's ROIC?
Ashford Hospitality's return on invested capital was 2.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Ashford Hospitality have?
Ashford Hospitality had total debt of $2.9 billion at the end of fiscal 2025 and $2.9 billion of net debt (11.56 times EBITDA).
What is Ashford Hospitality's dividend yield?
Ashford Hospitality paid $24.0 million in dividends in fiscal 2025 ($4.01 per share), a payout ratio of —.
Does Ashford Hospitality buy back its shares?
Yes. Ashford Hospitality spent $0.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +26.9% over the year, to 6.0M..
What is Ashford Hospitality's free cash flow yield?
Ashford Hospitality generated -$15.7 million of free cash flow in fiscal 2025, a free cash flow yield of −61.6% on its market value at year-end ($25.4 million).
What is Ashford Hospitality's current ratio?
Ashford Hospitality's current ratio was 0.26 at the end of fiscal 2025: current assets were 0.26 times current liabilities.