Companies: 10,795·Total market cap: $144.5T
Ashford Hospitality Trust, Inc.

Ashford Hospitality Trust, Inc.

AHTNYSEReal Estate● Active
$3.05
+$0.04(+1.33%)
Market Cap$19753295
P/E Ratio—
52W High$7.55
52W Low$2.5
Free Cash FlowFinancialsRevenue

Ashford Hospitality Trust, Inc. (AHT) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

AHT · free cash flow · updated Jun 9, 2026

Core FCF metrics

Free cash flow was −$21.9M for FY2025 (fiscal year ending 2025-12-31), up 8.1% year-over-year The FCF margin was -2.0%.

FY2025 Free Cash Flow−$21.9M▲ +8.1% YoY
Trailing 12M (TTM)$22.0MTrailing 4Q sum · TTM positive vs latest FY negative
FCF Margin-2.0%−$21.9M ÷ revenue
3-Year CAGRN/AN/A — contains negative FCF
5-Year CAGRN/AN/A — contains negative FCF
FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0
Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 9, 2026

Annual free cash flow history

Positive FCFNegative FCF
Free Cash Flow
YoY Growth %
aht free cash flow history · aht free cash flow chart · aht free cash flow growth rate · aht free cash flow last 10 years

Annual free cash flow data

Fiscal YearFree Cash FlowYoY ChangeFCF Margin
FY2025Latest−$21.9M▲ +8.1%-2.0%
FY2024−$23.8M▼ 272.5%-2.0%
FY2023$13.8M▲ +121.4%1.0%
FY2022−$64.5M▲ +55.3%-5.2%
FY2021−$144.3M▲ +3.5%-17.9%
FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP
aht free cash flow 2025 · aht free cash flow 2024 · aht free cash flow 2023 · aht operating cash flow

FCF valuation metrics

Ashford Hospitality Trust, Inc. (AHT) trades at a FCF yield of 111.13% and a price-to-free-cash-flow ratio of 0.8x. FCF per share stands at $3.67, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)
111.13%
Free Cash Flow ÷ Market Cap
per FMP freeCashFlowYieldTTM definition
FCF per Share (TTM)
$3.67
TTM FCF ÷ Shares Outstanding
Price / FCF
x0.8
Share Price ÷ FCF per Share
EV / FCF (TTM)
x115.8
Enterprise Value basis
Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31
aht price to free cash flow · aht free cash flow yield · aht free cash flow per share · aht price to cash flow ratio

Cash flow statement summary

For FY2025, Ashford Hospitality Trust, Inc. generated −$15.7M in operating cash flow and spent 71M in capital expenditures, yielding −$21.9M in free cash flow.

Operating Activities
−$15.7M
Cash from core business operations
2025-12-31
Investing Activities
+$190.8M
CapEx, acquisitions & investments
2025-12-31
Financing Activities
−$179.2M
Buybacks, dividends & debt
2025-12-31
FCF FormulaOperating CF (−$15.7M) − |CapEx| (71M) = FCF (−$21.9M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →
aht cash flow statement · aht cash flow statement 2025 · aht operating cash flow · aht cash flow from operations

Free cash flow vs peers (Real Estate)

#CompanyFree Cash FlowYoY
#1
Ashford Hospitality Trust, Inc.
Ashford Hospitality Trust, Inc.YOU
AHT
−$21.9M+8.1%
#2
Prologis, Inc.
Prologis, Inc.
PLD
$5.01B+2.0%#3
American Tower Corporation
American Tower Corporation
AMT
$3.78B+2.2%#4
Simon Property Group, Inc.
Simon Property Group, Inc.
SPG
$3.57B+16.6%#5
Welltower Inc.
Welltower Inc.
WELL
$2.85B+29.5%#6
Equinix, Inc.
Equinix, Inc.
EQIX
−$400.0M-318.6%
Real Estate · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Ashford Hospitality Trust, Inc. (AHT) reported free cash flow of −$21.9M for FY2025 (fiscal year ending 2025-12-31), up 8.1% year-over-year. The FCF margin was -2.0%.

Based on available data, Ashford Hospitality Trust, Inc. has maintained positive free cash flow for at least 10 fiscal year(s). FCF peaked at $208.4M in FY2015.

Ashford Hospitality Trust, Inc.'s FCF yield is 111.13% and price-to-FCF ratio is 0.8x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.
RevenueFinancial statementsNet incomeEarningsForecastPrice historyMarket capCash on handP/E ratio

Frequently asked questions

AHT free cash flow · 8 questions

Ashford Hospitality Trust, Inc. free cash flow was −$21.9M for FY2025, up 8.1% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $22.0M.

AHT free cash flowAHT FCFAHT FCF 2025AHT free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Ashford Hospitality Trust, Inc. · Ashford Hospitality Trust, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 9, 2026