NYSE : PK
Park Hotels & Resorts Inc. — Financial statements
Real Estate · REIT - Hotel & Motel · United States
Last price 16.6 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.34B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 1.50B | 1.50B | 1.57B | 1.65B | 1.56B | 870.00M |
| Other Revenue | 1.05B | 1.04B | 1.04B | 1.06B | 957.00M | 485.00M |
| Total Revenue | 2.54B | 2.54B | 2.61B | 2.71B | 2.52B | 1.35B |
| Property Expenses | 1.76B | 1.78B | 1.81B | 1.91B | 1.76B | 1.11B |
| Selling, General & Administrative | 114.00M | 113.00M | 114.00M | 112.00M | 108.00M | 88.00M |
| Depreciation & Amortization | 219.00M | 280.00M | 257.00M | 287.00M | 269.00M | 281.00M |
| Other Operating Expenses | 90.00M | 88.00M | 82.00M | 83.00M | 72.00M | 49.00M |
| Total Operating Expenses | 2.18B | 2.26B | 2.26B | 2.39B | 2.21B | 1.53B |
| Operating Income | 364.00M | 286.00M | 349.00M | 322.00M | 304.00M | -172.00M |
| Interest Expense | -233.00M | -267.00M | -274.00M | -252.00M | -247.00M | -258.00M |
| Interest & Investment Income | 8.00M | 10.00M | 21.00M | 38.00M | 13.00M | 1.00M |
| Other Non-Operating Income | 4.00M | 96.00M | -7.00M | |||
| EBT Excluding Unusual Items | 143.00M | 29.00M | 96.00M | 108.00M | 166.00M | -436.00M |
| Gain (Loss) on Sale of Investments | 20.00M | 16.00M | 19.00M | |||
| Gain (Loss) on Sale of Assets | -2.00M | 2.00M | 8.00M | 15.00M | 13.00M | -5.00M |
| Asset Writedown | -303.00M | -316.00M | 48.00M | 19.00M | -6.00M | -5.00M |
| Other Unusual Items | -3.00M | -1.00M | -6.00M | 2.00M | -4.00M | |
| Pretax Income | -145.00M | -270.00M | 165.00M | 144.00M | 173.00M | -450.00M |
| Income Tax Expense | 11.00M | 7.00M | -61.00M | 38.00M | 2.00M | |
| Earnings From Continuing Operations | -156.00M | -277.00M | 226.00M | 106.00M | 173.00M | -452.00M |
| Minority Interest in Earnings | -7.00M | -6.00M | -14.00M | -9.00M | -11.00M | -7.00M |
| Net Income | -163.00M | -283.00M | 212.00M | 97.00M | 162.00M | -459.00M |
| Preferred Dividends & Other Adjustments | 1.00M | 1.00M | 2.00M | |||
| Net Income to Common | -164.00M | -283.00M | 211.00M | 95.00M | 162.00M | -459.00M |
| Basic Shares Outstanding | 199.50M | 199.00M | 207.00M | 214.00M | 228.00M | 236.00M |
| Diluted Shares Outstanding | 199.50M | 199.00M | 209.00M | 215.00M | 228.00M | 236.00M |
| EPS (Basic) | -0.82 | -1.42 | 1.02 | 0.44 | 0.71 | -1.94 |
| EPS (Diluted) | -0.83 | -1.43 | 1.01 | 0.44 | 0.71 | -1.95 |
| Dividend Per Share | 1.00 | 1.00 | 1.40 | 1.38 | 0.28 | |
| Operating Margin | 14.30% | 11.24% | 13.37% | 11.89% | 12.08% | -12.69% |
| Profit Margin | -6.44% | -11.12% | 8.08% | 3.51% | 6.44% | -33.88% |
| EBITDA | 639.00M | 566.00M | 606.00M | 609.00M | 573.00M | 109.00M |
| EBITDA Margin | 25.11% | 22.24% | 23.21% | 22.48% | 22.77% | 8.04% |
| D&A For Ebitda | 275.00M | 280.00M | 257.00M | 287.00M | 269.00M | 281.00M |
| EBIT | 364.00M | 286.00M | 349.00M | 322.00M | 304.00M | -172.00M |
| EBIT Margin | 14.30% | 11.24% | 13.37% | 11.89% | 12.08% | -12.69% |
| Funds From Operations (FFO) | 339.00M | 295.00M | 399.00M | 346.00M | 319.00M | -163.00M |
| FFO Per Share | 1.47 | 1.91 | 1.61 | 1.40 | -0.69 | |
| Adjusted Funds From Operations (AFFO) | 403.00M | 394.00M | 430.00M | 439.00M | 352.00M | -136.00M |
| AFFO Per Share | 2.02 | 1.97 | 2.06 | 2.04 | 1.54 | -0.57 |
| FFO Payout Ratio | 58.70% | 94.92% | 128.32% | 43.93% | 2.19% | |
| Effective Tax Rate | 26.39% | |||||
| Revenue as Reported | 2.54B | 2.54B | 2.60B | 2.70B | 2.50B | 1.36B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 7.06B | 7.12B | 7.59B | 7.66B | 8.52B | 8.72B |
| Cash & Equivalents | 264.00M | 232.00M | 402.00M | 717.00M | 906.00M | 688.00M |
| Accounts Receivable | 151.00M | 116.00M | 951.00M | 872.00M | 129.00M | 96.00M |
| Other Intangible Assets | 40.00M | 41.00M | 41.00M | 42.00M | 43.00M | 44.00M |
| Restricted Cash | 38.00M | 32.00M | 38.00M | 33.00M | 33.00M | 75.00M |
| Other Current Assets | 67.00M | 74.00M | 69.00M | 59.00M | 58.00M | 35.00M |
| Deferred Long-Term Tax Assets | 36.00M | 39.00M | 1.00M | 1.00M | ||
| Other Long-Term Assets | 78.00M | 44.00M | 32.00M | 39.00M | 47.00M | 83.00M |
| Total Assets | 7.70B | 7.70B | 9.16B | 9.42B | 9.73B | 9.74B |
| Current Portion of Long-Term Debt | 1.48B | 1.27B | 725.00M | 725.00M | 725.00M | |
| Current Portion of Leases | 23.00M | |||||
| Long-Term Debt | 2.44B | 2.56B | 3.84B | 3.76B | 3.89B | 4.67B |
| Long-Term Leases | 188.00M | 187.00M | 226.00M | 224.00M | 234.00M | 227.00M |
| Accounts Payable | 226.00M | 198.00M | 226.00M | 210.00M | 220.00M | 156.00M |
| Accrued Expenses | 95.00M | 35.00M | ||||
| Current Unearned Revenue | 127.00M | 120.00M | 107.00M | 103.00M | 87.00M | |
| Other Current Liabilities | 51.00M | 56.00M | 138.00M | 362.00M | 56.00M | |
| Long-Term Deferred Tax Liabilities | 1.00M | 24.00M | 9.00M | 9.00M | ||
| Other Long-Term Liabilities | 290.00M | 195.00M | 197.00M | 200.00M | 201.00M | 189.00M |
| Total Liabilities | 4.67B | 4.62B | 5.57B | 5.65B | 5.44B | 5.34B |
| Common Stock | 2.00M | 2.00M | 2.00M | 2.00M | 2.00M | 2.00M |
| Additional Paid-In Capital | 4.03B | 4.03B | 4.06B | 4.16B | 4.32B | 4.53B |
| Retained Earnings | -940.00M | -902.00M | -420.00M | -344.00M | 16.00M | -83.00M |
| Total Common Equity | 3.09B | 3.13B | 3.65B | 3.81B | 4.34B | 4.45B |
| Minority Interest | -57.00M | -55.00M | -51.00M | -46.00M | -48.00M | -49.00M |
| Shareholders' Equity | 3.03B | 3.08B | 3.59B | 3.77B | 4.29B | 4.40B |
| Total Liabilities & Equity | 7.70B | 7.70B | 9.16B | 9.42B | 9.73B | 9.74B |
| Total Debt | 4.10B | 4.05B | 4.79B | 4.71B | 4.85B | 4.90B |
| Net Cash (Debt) | -3.84B | -3.81B | -4.39B | -4.00B | -3.94B | -4.21B |
| Net Cash Per Share | -19.24 | -19.17 | -21.00 | -18.59 | -17.30 | -17.84 |
| Filing Date Shares Outstanding | 201.34M | 201.40M | 202.04M | 210.58M | 222.07M | 236.47M |
| Total Common Shares Outstanding | 201.35M | 199.90M | 202.55M | 209.99M | 224.06M | 236.48M |
| Book Value Per Share | 15.35 | 15.66 | 18.00 | 18.16 | 19.37 | 18.83 |
| Tangible Book Value | 3.05B | 3.09B | 3.60B | 3.77B | 4.30B | 4.41B |
| Tangible Book Value Per Share | 15.15 | 15.46 | 17.79 | 17.96 | 19.17 | 18.64 |
| Land | 2.92B | 2.92B | 3.02B | 2.99B | 3.32B | 3.33B |
| Buildings | 5.50B | 5.49B | 5.99B | 5.81B | 6.51B | 6.61B |
| Construction In Progress | 237.00M | 249.00M | 152.00M | 341.00M | 201.00M | 82.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -163.00M | -283.00M | 212.00M | 97.00M | 162.00M | -459.00M |
| Depreciation & Amortization | 275.00M | 280.00M | 257.00M | 287.00M | 269.00M | 281.00M |
| Other Amortization | 9.00M | 9.00M | 9.00M | 9.00M | 10.00M | 12.00M |
| Gain (Loss) on Sale of Assets | -9.00M | -17.00M | -103.00M | 17.00M | ||
| Gain (Loss) on Sale of Investments | -16.00M | -16.00M | -19.00M | |||
| Asset Writedown | 247.00M | 316.00M | -48.00M | -19.00M | 6.00M | |
| Stock-Based Compensation | 20.00M | 19.00M | 19.00M | 18.00M | 17.00M | 19.00M |
| Income (Loss) on Equity Investments | 8.00M | 4.00M | -4.00M | -1.00M | -8.00M | 7.00M |
| Change in Accounts Receivable | 14.00M | 14.00M | -19.00M | 9.00M | -33.00M | -70.00M |
| Change in Accounts Payable | 37.00M | 37.00M | 76.00M | 82.00M | 44.00M | |
| Change in Other Net Operating Assets | -41.00M | 8.00M | -1.00M | 13.00M | 36.00M | 46.00M |
| Other Operating Activities | 14.00M | 10.00M | -44.00M | 25.00M | 9.00M | 10.00M |
| Operating Cash Flow | 404.00M | 398.00M | 429.00M | 503.00M | 409.00M | -137.00M |
| Acquisition of Real Estate Assets | -323.00M | -296.00M | -227.00M | -285.00M | -168.00M | -54.00M |
| Sale of Real Estate Assets | 28.00M | 75.00M | 31.00M | 116.00M | 143.00M | 454.00M |
| Net Sale / Acq. of Real Estate Assets | -295.00M | -221.00M | -196.00M | -169.00M | -25.00M | 400.00M |
| Cash Acquisition | -11.00M | |||||
| Investment in Marketable & Equity Securities | 15.00M | 12.00M | 30.00M | -7.00M | 112.00M | -10.00M |
| Other Investing Activities | -30.00M | 4.00M | ||||
| Investing Cash Flow | -280.00M | -209.00M | -166.00M | -217.00M | 87.00M | 394.00M |
| Long-Term Debt Issued | 750.00M | 80.00M | 764.00M | |||
| Long-Term Debt Repaid | -9.00M | -672.00M | -133.00M | -142.00M | -1.21B | |
| Net Debt Issued (Repaid) | 71.00M | -9.00M | 78.00M | -133.00M | -62.00M | -449.00M |
| Repurchase of Common Stock | -9.00M | -49.00M | -121.00M | -182.00M | -230.00M | -5.00M |
| Common Dividends Paid | -199.00M | -280.00M | -512.00M | -152.00M | -7.00M | |
| Other Financing Activities | -32.00M | -27.00M | -18.00M | -8.00M | -21.00M | -21.00M |
| Net Cash Flow | -45.00M | -176.00M | -310.00M | -189.00M | 176.00M | -218.00M |
| Levered Free Cash Flow | 1.07B | 957.88M | 102.88M | -51.25M | 453.62M | -17.75M |
| Unlevered Free Cash Flow | 1.21B | 1.12B | 265.12M | 97.25M | 598.00M | 131.50M |
| Cash Interest Paid | 212.00M | 212.00M | 185.00M | 215.00M | 245.00M | 242.00M |
| Cash Income Tax Paid | 3.00M | 3.00M | 15.00M | 7.00M | 7.00M | 31.00M |
| Change in Working Capital | 10.00M | 59.00M | 56.00M | 104.00M | 47.00M | -24.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.34B | 2.09B | 2.90B | 3.21B | 2.65B | 4.46B |
| Enterprise Value | 7.18B | 6.54B | 7.17B | 7.16B | 6.55B | 8.55B |
| Last Close Price | 16.60 | 9.88 | 12.11 | 11.99 | 8.02 | 12.54 |
| Price/FFO Ratio | 6.72 | 6.34 | 7.45 | 5.73 | -18.18 | |
| Price/AFFO Ratio | 6.95 | 5.01 | 5.88 | 5.88 | 5.21 | -22.01 |
| PE Ratio | 13.76 | 33.82 | 16.36 | |||
| PS Ratio | 1.31 | 0.82 | 1.11 | 1.19 | 1.05 | 3.29 |
| PB Ratio | 1.08 | 0.68 | 0.81 | 0.85 | 0.62 | 1.01 |
| P/OCF Ratio | 8.27 | 5.25 | 6.77 | 6.39 | 6.48 | |
| EV/Sales Ratio | 2.82 | 2.57 | 2.75 | 2.64 | 2.60 | 6.31 |
| EV/EBITDA Ratio | 11.24 | 11.55 | 11.83 | 11.75 | 11.43 | 78.42 |
| EV/EBIT Ratio | 19.73 | 22.85 | 20.55 | 22.23 | 21.54 | |
| Debt / Equity Ratio | 1.35 | 1.32 | 1.33 | 1.25 | 1.13 | 1.11 |
| Debt / EBITDA Ratio | 6.02 | 6.67 | 7.43 | 7.27 | 7.90 | 34.50 |
| Net Debt / Equity Ratio | 1.26 | 1.24 | 1.22 | 1.06 | 0.92 | 0.96 |
| Net Debt / EBITDA Ratio | 6.01 | 6.74 | 7.24 | 6.56 | 6.88 | 38.63 |
| Asset Turnover | 0.31 | 0.30 | 0.28 | 0.28 | 0.26 | 0.13 |
| Quick Ratio | 0.24 | 0.21 | 1.04 | 1.10 | 0.94 | 3.23 |
| Current Ratio | 0.30 | 0.27 | 1.12 | 1.17 | 1.02 | 3.68 |
| Return on Equity (ROE) | -4.86% | -8.31% | 6.14% | 2.63% | 3.98% | -9.78% |
| Return on Assets (ROA) | 2.74% | 2.12% | 2.35% | 2.10% | 1.95% | -1.06% |
| Return on Invested Capital (ROIC) | 5.12% | 3.69% | 4.14% | 2.69% | 3.30% | -1.76% |
| Earnings Yield | -4.98% | -13.54% | 7.30% | 3.02% | 6.11% | -10.28% |
| Dividend Yield | 6.02% | 9.56% | 9.77% | 9.02% | 2.37% | |
| Payout Ratio | 241.51% | 156.70% | 4.32% | |||
| Buyback Yield / Dilution | 1.72% | 4.78% | 2.79% | 5.70% | 3.39% | |
| Total Shareholder Return | 7.75% | 14.34% | 12.56% | 14.72% | 5.76% |