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Park Hotels & Resorts

PK NYSE Hotel & Resort REITs Financials FY2016–FY2025

Park Hotels & Resorts' revenue fell 2.2% to $2.5 billion in fiscal 2025. Its operating margin was −1.3%, down from 15.0% a year earlier. Free cash flow was $102 million, down 49.5%. It paid out $325 million in dividends and buybacks, 319% of free cash flow. The diluted share count fell 4.8%.

Last close · Oct 23, 2026

$16.35

1.9%
Value it Compare
Revenue Total sales reported in the income statement.
$2.5B
2.2% vs prior year
Operating margin Operating income as a share of revenue.
−1.3%
16.3 pts
Net income Profit after all expenses, interest and tax.
−$283M
233.5%
Free cash flow Cash from operations minus capital spending.
$102M
49.5%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−0.4%
6.0 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$3.3B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Park Hotels & Resorts does

No business description yet.

Legal name
Park Hotels & Resorts Inc.
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0001617406-26-000006
0001617406

Revenue and margins

Park Hotels & Resorts had $2.5B of revenue in fiscal 2025, down 2.2% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $102M in fiscal 2025, 4.0% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Park Hotels & Resorts returned $325M to shareholders in fiscal 2025, 319% of free cash flow. The diluted share count fell 4.8%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Park Hotels & Resorts yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of −$3.6B and divides by 199.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Park Hotels & Resorts can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $688M$906M$717M$402M$232M
Debt incl. finance leases $4.7B$4.6B$3.8B$3.9B$3.9B
Net debt / EBITDA 39.4x6.6x4.9x5.4x12.0x
Debt / equity 1.1x1.1x1.0x1.1x1.2x
Interest coverage −0.8x1.4x1.7x1.8x−0.2x
Total assets $9.7B$9.7B$9.4B$9.2B$7.7B
Total liabilities $5.3B$5.4B$5.7B$5.6B$4.6B
Shareholders' equity $4.5B$4.3B$3.8B$3.6B$3.1B
Net debt (− = net cash) $4.0B$3.7B$3.1B$3.5B$3.6B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

1 insider

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

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$0.0M

DateInsiderTradeSharesPriceValueFiling
Jan 14, 2026 Christie B. KellyDirector Bought 2,949 $11.19 $0.0M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✕
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✕
Current ratio rose — — —
Share count didn't rise ✓ ✓ ✓
Gross margin rose — — —
Revenue rose relative to assets ✓ ✕ ✓
F-score — / 9— / 9— / 9
Accruals ratio −4.2%−2.3%−8.1%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Park Hotels & Resorts PK $3.3B −2.2% −1.3% 4.0% −0.4% — —
Vici Properties VICI $25.9B 4.1% — 62.6% 8.2% 9.3x — Compare →
Host Hotels & Resorts HST $17.0B 7.6% 14.0% — 7.4% 16.6x — Compare →
Zillow ZG $7.8B 15.5% −1.3% 9.1% −0.9% 154.8x 7 Compare →
Invitation Homes INVH $16.3B 4.2% — — — 25.3x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $2.7B $2.8B $2.7B $2.8B $852M $1.4B $2.5B $2.7B $2.6B $2.5B
Operating income $419M $371M $504M $426M −$1.2B −$179M $296M $343M $391M −$33.0M
Interest expense $181M $124M $127M $140M $213M $228M $217M $207M $214M $209M
Pretax income $221M $285M $500M $351M −$1.5B −$450M $173M $144M $165M −$270M
Income tax $82.0M −$2.3B $23.0M $35.0M −$6.0M $2.0M $0.0M $38.0M −$61.0M $7.0M
Net income $133M $2.6B $472M $306M −$1.4B −$459M $162M $97.0M $212M −$283M
Diluted EPS $0.67 $12.21 $2.31 $1.44 −$6.11 −$1.95 $0.71 $0.44 $1.01 −$1.43
Diluted shares 0.20B 0.21B 0.20B 0.21B 0.24B 0.24B 0.23B 0.22B 0.21B 0.20B
Cash flow
Cash from operations $399M $653M $444M $499M −$438M −$137M $409M $503M $429M $398M
Capital expenditure $227M $185M $178M $240M $86.0M $54.0M $168M $285M $227M $296M
Free cash flow $172M $468M $266M $259M −$524M −$191M $241M $218M $202M $102M
Depreciation and amortization $300M $288M $277M $264M $298M $281M $269M $287M $257M $336M
Stock-based compensation — $14.0M $16.0M $16.0M $20.0M $19.0M $17.0M $18.0M $19.0M $19.0M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $11.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $348M $0.0M $66.0M $0.0M $227M $180M $116M $45.0M
Dividends paid $180M $386M $464M $494M $241M $0.0M $7.0M $152M $512M $280M
Dividends and buybacks $180M $386M $812M $494M $307M $0.0M $234M $332M $628M $325M
Balance sheet
Cash and short-term investments $337M $364M $410M $346M $951M $688M $906M $717M $402M $232M
Total debt — $3.0B $3.0B $3.9B $5.2B $4.7B $4.6B $3.8B $3.9B $3.9B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $1.0M $1.0M $1.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $8.5B $8.3B $8.0B $9.6B $9.2B $8.5B $8.3B $7.5B $7.4B $7.0B
Total assets $9.8B $9.7B $9.4B $11.3B $10.6B $9.7B $9.7B $9.4B $9.2B $7.7B
Total liabilities $6.0B $3.8B $3.8B $4.8B $5.7B $5.3B $5.4B $5.7B $5.6B $4.6B
Shareholders' equity $3.9B $6.0B $5.6B $6.5B $4.9B $4.5B $4.3B $3.8B $3.6B $3.1B
Margins
Operating margin 15.4% 13.3% 18.4% 15.0% −141.1% −13.1% 11.8% 12.7% 15.0% −1.3%
EBITDA margin 26.4% 23.6% 28.5% 24.3% −106.1% 7.5% 22.6% 23.4% 24.9% 11.9%
Net margin 4.9% 94.1% 17.3% 10.8% −169.0% −33.7% 6.5% 3.6% 8.2% −11.1%
FCF margin 6.3% 16.8% 9.7% 9.1% −61.5% −14.0% 9.6% 8.1% 7.8% 4.0%
Returns
Return on capital — — 5.8% 4.2% −10.0% −1.6% 3.6% 3.4% 5.6% −0.4%
Return on equity — 53.1% 8.1% 5.1% −25.3% −9.8% 3.7% 2.4% 5.7% −8.4%
Return on assets — 26.9% 5.0% 3.0% −13.2% −4.5% 1.7% 1.0% 2.3% −3.4%
Growth
Revenue growth 1.5% 2.4% −1.9% 3.9% −70.0% 59.9% 83.6% 7.9% −3.7% −2.2%
Net income growth −54.5% 1,873.7% −82.0% −35.2% −570.6% — — −40.1% 118.6% −233.5%
EPS growth −54.7% 1,722.4% −81.1% −37.7% −524.3% — — −38.0% 129.6% −241.6%
FCF growth −41.3% 172.1% −43.2% −2.6% −302.3% — — −9.5% −7.3% −49.5%
Share count change 0.0% 8.1% −4.7% 4.4% 10.8% 0.0% −3.4% −5.7% −2.8% −4.8%
Financial health
Net debt / EBITDA — 4.0x 3.3x 5.1x — 39.4x 6.6x 4.9x 5.4x 12.0x
Debt / equity — 0.5x 0.5x 0.6x 1.1x 1.1x 1.1x 1.0x 1.1x 1.2x
Interest coverage 2.3x 3.0x 4.0x 3.0x −5.6x −0.8x 1.4x 1.7x 1.8x −0.2x
Capital allocation
Capex / revenue 8.3% 6.6% 6.5% 8.4% 10.1% 4.0% 6.7% 10.6% 8.7% 11.7%
Stock comp / revenue — 0.5% 0.6% 0.6% 2.4% 1.4% 0.7% 0.7% 0.7% 0.8%
Payouts / FCF 104.7% 82.5% 305.3% 190.7% — — 97.1% 152.3% 310.9% 318.6%
Quality scores
Accruals ratio — 20.2% 0.3% −1.9% −9.2% −3.2% −2.5% −4.2% −2.3% −8.1%

Source: SEC EDGAR XBRL filings (CIK 0001617406). Data updated October 18, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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