Park Hotels & Resorts (PK) Financials

$11.08 -0.25 (-2.16%)

As of 12:59 PM Eastern

Annual Income Statements for Park Hotels & Resorts

This table shows Park Hotels & Resorts' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	292	133	2,625	472	3,153	-1,440	-459	162	97	212	-283
Consolidated Net Income / (Loss)	299	139	2,631	477	316	-1,444	-452	173	106	226	-277
Net Income / (Loss) Continuing Operations	299	139	2,631	477	3,163	-1,444	-452	173	106	226	-277
Total Pre-Tax Income	417	221	285	500	351	-1,450	-450	173	144	165	-270
Total Operating Income	586	419	371	504	426	-1,202	-179	296	343	391	-33
Total Gross Profit	918	914	955	959	3,846	127	418	916	987	976	938
Total Revenue	2,688	2,727	2,791	2,737	5,688	852	1,362	2,501	2,698	2,599	2,541
Operating Revenue	2,688	2,727	2,791	2,737	5,688	852	1,362	2,501	2,698	2,599	2,541
Total Cost of Revenue	1,770	1,813	1,836	1,778	1,842	725	944	1,585	1,711	1,623	1,603
Operating Cost of Revenue	1,770	1,813	1,836	1,778	1,842	725	944	1,585	1,711	1,623	1,603
Total Operating Expenses	332	495	584	455	573	1,329	597	620	644	585	971
Selling, General & Admin Expense	99	90	131	138	62	99	111	135	148	151	160
Depreciation Expense	287	300	288	277	264	298	281	269	287	257	336
Other Operating Expenses / (Income)	89	91	140	137	196	288	191	223	20	171	158
Impairment Charge	-	15	26	-1.00	-	696	9.00	6.00	204	14	319
Other Special Charges / (Income)	-143	-1.00	-1.00	-96	-19	-62	5.00	-13	-15	-8.00	-2.00
Total Other Income / (Expense), net	-169	-198	-86	-4.00	-75	-248	-271	-123	-199	-226	-237
Interest Expense	186	181	124	127	140	213	258	247	252	274	267
Interest & Investment Income	23	5.00	42	24	20	-20	-6.00	28	49	52	14
Other Income / (Expense), net	-6.00	-22	-4.00	99	45	-15	-7.00	96	4.00	-4.00	16
Income Tax Expense	118	82	-2,346	23	35	-6.00	2.00	0.00	38	-61	7.00
Net Income / (Loss) Attributable to Noncontrolling Interest	7.00	6.00	6.00	5.00	10	-4.00	7.00	11	9.00	14	6.00
Basic Earnings per Share	$1.48	$0.67	$12.38	$2.32	$1.44	($6.11)	($1.95)	$0.71	$0.44	$1.02	($1.43)
Weighted Average Basic Shares Outstanding	198M	198M	211M	203M	212M	236M	236M	228M	214M	207M	199M
Diluted Earnings per Share	$1.48	$0.67	$12.21	$2.31	$1.44	($6.11)	($1.95)	$0.71	$0.44	$1.01	($1.43)
Weighted Average Diluted Shares Outstanding	198M	198M	214M	204M	213M	236M	236M	228M	215M	209M	199M
Weighted Average Basic & Diluted Shares Outstanding	-	198.50M	212M	203.40M	240.18M	236.38M	236.47M	222.07M	210.58M	202.04M	201.40M
Cash Dividends to Common per Share	-	-	$1.84	$1.99	$1.90	$0.45	-	$0.28	$2.15	$1.40	$1.00

This table shows Park Hotels & Resorts' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	27	187	28	64	54	66	-57	-5.00	-16	-205	11
Consolidated Net Income / (Loss)	31	188	29	67	57	73	-57	-2.00	-14	-204	12
Net Income / (Loss) Continuing Operations	31	188	29	67	57	73	-57	-2.00	-14	-204	12
Total Pre-Tax Income	31	221	30	55	59	21	-56	-1.00	-8.00	-205	13
Total Operating Income	85	276	92	121	95	83	7.00	65	59	-164	62
Total Gross Profit	246	245	239	215	181	53	226	212	161	339	228
Total Revenue	679	657	639	686	649	625	630	672	610	629	622
Operating Revenue	679	657	639	686	649	625	630	672	610	629	622
Total Cost of Revenue	433	412	400	471	468	572	404	460	449	290	394
Operating Cost of Revenue	433	412	400	471	468	572	404	460	449	290	394
Total Operating Expenses	161	-31	147	94	86	-30	219	147	102	503	166
Selling, General & Admin Expense	37	37	38	38	38	37	39	42	40	39	42
Depreciation Expense	65	94	65	64	63	65	69	122	78	67	64
Other Operating Expenses / (Income)	59	-162	38	-15	-15	-125	41	-16	-16	149	54
Impairment Charge	0.00	-	6.00	7.00	0.00	1.00	70	0.00	0.00	249	5.00
Other Special Charges / (Income)	0.00	-	-	0.00	0.00	-8.00	0.00	-1.00	0.00	-	1.00
Total Other Income / (Expense), net	-54	-55	-62	-66	-36	-62	-63	-66	-67	-41	-49
Interest Expense	65	66	67	69	69	69	68	69	69	61	51
Interest & Investment Income	11	11	5.00	6.00	34	7.00	3.00	4.00	3.00	4.00	2.00
Other Income / (Expense), net	0.00	-	0.00	-3.00	-1.00	-	2.00	-1.00	-1.00	16	0.00
Income Tax Expense	0.00	33	1.00	-12	2.00	-52	1.00	1.00	6.00	-1.00	1.00
Net Income / (Loss) Attributable to Noncontrolling Interest	4.00	1.00	1.00	3.00	3.00	7.00	0.00	3.00	2.00	1.00	1.00
Basic Earnings per Share	$0.13	$0.86	$0.13	$0.31	$0.26	$0.32	($0.29)	($0.02)	($0.08)	($1.04)	$0.05
Weighted Average Basic Shares Outstanding	212M	214M	209M	209M	206M	207M	200M	199M	199M	199M	199M
Diluted Earnings per Share	$0.13	$0.86	$0.13	$0.30	$0.26	$0.32	($0.29)	($0.02)	($0.08)	($1.04)	$0.05
Weighted Average Diluted Shares Outstanding	212M	215M	211M	211M	208M	209M	200M	199M	199M	199M	200M
Weighted Average Basic & Diluted Shares Outstanding	209.98M	210.58M	210.60M	208.92M	206.40M	202.04M	199.89M	199.91M	199.90M	201.40M	201.36M
Cash Dividends to Common per Share	$0.15	-	$0.25	$0.25	$0.25	-	$0.25	$0.25	$0.25	-	$0.25

This table details how cash moves in and out of Park Hotels & Resorts' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	70	206	29	46	-39	595	-218	176	-189	-310	-176
Net Cash From Operating Activities	519	399	653	444	499	-438	-137	409	503	429	398
Net Cash From Continuing Operating Activities	519	399	653	445	499	-438	-137	409	503	429	398
Net Income / (Loss) Continuing Operations	299	139	2,631	477	316	-1,444	-452	173	106	226	-277
Consolidated Net Income / (Loss)	299	139	2,631	477	316	-1,444	-452	173	106	226	-277
Depreciation Expense	287	300	288	277	264	298	281	269	287	257	336
Amortization Expense	11	11	5.00	4.00	5.00	9.00	12	10	9.00	9.00	9.00
Non-Cash Adjustments To Reconcile Net Income	-132	34	62	-183	-51	625	70	-58	-27	-50	263
Changes in Operating Assets and Liabilities, net	54	-85	-2,333	-130	-35	74	-48	15	128	-13	67
Net Cash From Investing Activities	252	-224	-165	419	-635	119	394	87	-217	-166	-209
Net Cash From Continuing Investing Activities	252	-224	-165	419	-635	119	394	87	-217	-166	-209
Purchase of Property, Plant & Equipment	-226	-227	-185	-178	-240	-86	-54	-168	-285	-227	-296
Acquisitions	-1,402	-	-	-10	-914	0.00	0.00	0.00	-11	0.00	0.00
Sale of Property, Plant & Equipment	1,866	-	-	369	429	207	454	143	116	31	75
Divestitures	-	-	-	150	51	1.00	0.00	101	3.00	0.00	12
Sale and/or Maturity of Investments	15	3.00	19	-	-	-	-	-	0.00	37	0.00
Other Investing Activities, net	-	-	2.00	88	39	-3.00	-2.00	11	-40	-7.00	0.00
Net Cash From Financing Activities	-697	29	-459	-816	97	914	-475	-320	-475	-573	-365
Net Cash From Continuing Financing Activities	-697	29	-459	-816	97	914	-475	-320	-475	-573	-365
Repayment of Debt	-883	-3,701	-55	0.00	-243	-1,144	-1,228	-153	-134	-683	-26
Repurchase of Common Equity	-	-	-	-348	0.00	-66	0.00	-227	-180	-116	-45
Payment of Dividends	-88	-212	-392	-466	-503	-242	-6.00	-17	-159	-519	-290
Issuance of Debt	271	2,915	-	0.00	850	2,376	764	80	0.00	750	0.00
Other Financing Activities, net	3.00	1,027	-12	-2.00	-7.00	-10	-5.00	-3.00	-2.00	-5.00	-4.00

This table details how cash moves in and out of Park Hotels & Resorts' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-56	-36	-340	74	34	-78	-180	87	-38	-45	-74
Net Cash From Operating Activities	127	126	92	117	140	80	86	108	99	105	59
Net Cash From Continuing Operating Activities	127	126	92	117	140	80	86	108	99	105	59
Net Income / (Loss) Continuing Operations	31	188	29	67	57	73	-57	-2.00	-14	-204	12
Consolidated Net Income / (Loss)	31	188	29	67	57	73	-57	-2.00	-14	-204	12
Depreciation Expense	65	94	65	64	63	65	69	122	78	67	64
Amortization Expense	3.00	2.00	0.00	4.00	2.00	3.00	3.00	1.00	2.00	3.00	3.00
Non-Cash Adjustments To Reconcile Net Income	5.00	-230	-5.00	-1.00	-34	-10	58	-12	-7.00	224	10
Changes in Operating Assets and Liabilities, net	23	72	3.00	-17	52	-51	13	-1.00	40	15	-30
Net Cash From Investing Activities	-71	-126	-70	-51	-13	-32	-77	32	-68	-96	-72
Net Cash From Continuing Investing Activities	-71	-126	-70	-51	-13	-32	-77	32	-68	-96	-72
Purchase of Property, Plant & Equipment	-71	-90	-70	-51	-43	-63	-77	-43	-68	-108	-83
Sale of Property, Plant & Equipment	-	-	-	-	-	31	0.00	-	-	-	11
Net Cash From Financing Activities	-112	-36	-362	8.00	-93	-126	-189	-53	-69	-54	-61
Net Cash From Continuing Financing Activities	-112	-36	-362	8.00	-93	-126	-189	-53	-69	-54	-61
Repayment of Debt	-2.00	-1.00	-1.00	-664	-2.00	-16	-2.00	-2.00	-18	-4.00	-2.00
Repurchase of Common Equity	-75	-	0.00	-25	-35	-56	-45	-	-	-	0.00
Payment of Dividends	-35	-35	-357	-52	-56	-54	-138	-51	-51	-50	-51
Other Financing Activities, net	-	-	-4.00	-1.00	-	-	-4.00	-	-	-	-8.00

This table presents Park Hotels & Resorts' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	9,834	9,714	9,363	11,290	10,587	9,743	9,731	9,419	9,161	7,700
Total Current Assets	525	537	645	609	1,016	819	1,093	888	602	454
Cash & Equivalents	337	364	410	346	951	688	906	717	402	232
Restricted Cash	-	-	-	-	-	-	-	-	-	32
Accounts Receivable	130	125	153	180	26	96	129	112	131	116
Prepaid Expenses	58	48	82	83	39	35	58	59	69	60
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	-	14
Plant, Property, & Equipment, net	8,541	8,311	7,975	9,594	9,193	8,511	8,301	7,459	7,398	6,955
Total Noncurrent Assets	768	866	743	1,087	378	413	337	1,072	1,161	291
Intangible Assets	44	41	27	46	45	44	43	42	41	41
Other Noncurrent Operating Assets	39	135	59	399	319	354	294	1,030	1,120	250
Total Liabilities & Shareholders' Equity	9,834	9,714	9,363	11,290	10,587	9,743	9,731	9,419	9,161	7,700
Total Liabilities	6,011	3,752	3,777	4,839	5,744	5,340	5,440	5,651	5,567	4,624
Total Current Liabilities	167	198	183	217	147	156	276	572	364	388
Accounts Payable	167	198	183	217	147	156	220	210	226	198
Accrued Expenses	-	-	-	-	-	-	-	-	-	134
Dividends Payable	-	-	-	-	-	-	56	362	138	56
Total Noncurrent Liabilities	5,844	3,554	3,594	4,622	5,597	5,184	5,164	5,079	5,203	4,236
Long-Term Debt	3,012	2,961	2,948	3,871	5,121	4,672	3,892	3,765	3,841	3,838
Other Noncurrent Operating Liabilities	395	528	604	701	466	512	1,272	1,314	1,362	398
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,823	5,962	5,586	6,451	4,843	4,403	4,291	3,768	3,594	3,076
Total Preferred & Common Equity	3,872	6,011	5,632	6,496	4,893	4,452	4,339	3,814	3,645	3,131
Total Common Equity	3,872	6,011	5,632	6,496	4,893	4,452	4,339	3,814	3,645	3,131
Common Stock	-	3,827	3,591	4,577	4,521	4,535	4,323	4,158	4,065	4,033
Retained Earnings	-	2,229	2,047	1,922	376	-83	16	-344	-420	-902
Noncontrolling Interest	-49	-49	-46	-45	-50	-49	-48	-46	-51	-55

This table presents Park Hotels & Resorts' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	9,786	9,553	9,344	9,305	9,085	9,166	9,173	8,901	8,870	8,830	7,658
Total Current Assets	1,155	1,027	1,014	938	565	657	661	424	520	457	364
Cash & Equivalents	971	842	797	726	378	449	480	233	319	278	156
Accounts Receivable	144	130	134	149	125	133	124	125	129	124	142
Prepaid Expenses	40	55	83	63	62	75	57	66	72	55	66
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	-	-	0.00
Plant, Property, & Equipment, net	8,292	8,198	8,002	8,028	7,441	7,422	7,413	7,317	7,176	7,174	6,976
Total Noncurrent Assets	339	328	328	339	1,079	1,087	1,099	1,160	1,174	1,199	318
Intangible Assets	43	43	43	42	42	42	42	41	41	41	41
Other Noncurrent Operating Assets	292	285	285	297	1,037	1,045	1,057	1,119	1,133	1,158	277
Total Liabilities & Shareholders' Equity	9,786	9,553	9,344	9,305	9,085	9,166	9,173	8,901	8,870	8,830	7,658
Total Liabilities	5,467	5,365	5,331	5,365	5,343	5,430	5,466	5,465	5,482	5,504	4,625
Total Current Liabilities	254	244	279	429	280	288	297	266	292	293	379
Accounts Payable	254	244	279	293	223	230	240	212	237	237	225
Accrued Expenses	-	-	-	136	-	-	-	-	-	-	104
Dividends Payable	-	-	-	-	57	58	57	54	55	56	50
Total Noncurrent Liabilities	5,213	5,121	5,052	4,936	5,063	5,142	5,169	5,199	5,190	5,211	4,246
Long-Term Debt	4,670	4,566	4,490	4,490	3,764	3,856	3,855	3,841	3,840	3,839	3,838
Capital Lease Obligations	-	-	-	225	-	-	-	-	-	-	207
Other Noncurrent Operating Liabilities	543	555	562	221	1,299	1,286	1,314	1,358	1,350	1,372	201
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	4,319	4,188	4,013	3,940	3,742	3,736	3,707	3,436	3,388	3,326	3,033
Total Preferred & Common Equity	4,365	4,237	4,058	3,984	3,789	3,780	3,752	3,494	3,444	3,382	3,088
Total Common Equity	4,365	4,237	4,058	3,984	3,789	3,780	3,752	3,494	3,444	3,382	3,088
Common Stock	4,327	4,218	4,223	4,153	4,156	4,135	4,105	4,019	4,024	4,029	4,025
Retained Earnings	38	19	-165	-169	-367	-355	-353	-525	-580	-647	-937
Noncontrolling Interest	-46	-49	-45	-44	-47	-44	-45	-58	-56	-56	-55

This table displays calculated financial ratios and metrics derived from Park Hotels & Resorts' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	1.45%	2.35%	-1.93%	107.82%	-85.02%	59.86%	83.63%	7.88%	-3.67%	-2.23%
EBITDA Growth	0.00%	-19.36%	-6.78%	33.94%	-16.29%	-222.97%	111.76%	527.10%	-4.17%	1.56%	-49.77%
EBIT Growth	0.00%	-31.55%	-7.56%	64.31%	-21.89%	-358.39%	84.72%	310.75%	-11.48%	11.53%	-104.39%
NOPAT Growth	0.00%	-37.28%	1,199.61%	-85.96%	-20.24%	-319.39%	85.11%	336.23%	-14.70%	112.11%	-104.31%
Net Income Growth	0.00%	-53.51%	1,792.81%	-81.87%	-33.75%	-556.96%	68.70%	138.27%	-38.73%	113.21%	-222.57%
EPS Growth	0.00%	-54.73%	1,722.39%	-81.08%	-37.66%	-524.31%	68.09%	136.41%	-38.03%	129.55%	-241.58%
Operating Cash Flow Growth	0.00%	-23.12%	63.66%	-32.01%	12.39%	-187.78%	68.72%	398.54%	22.98%	-14.71%	-7.23%
Free Cash Flow Firm Growth	0.00%	0.00%	122.21%	-35.49%	-268.23%	106.78%	398.71%	166.10%	-69.48%	33.15%	-15.97%
Invested Capital Growth	0.00%	0.00%	32.07%	-4.73%	23.12%	-9.48%	-6.97%	-12.41%	-2.11%	-0.10%	-6.68%
Revenue Q/Q Growth	0.00%	0.00%	0.58%	0.00%	109.12%	-80.61%	33.01%	9.36%	-0.30%	-1.22%	0.16%
EBITDA Q/Q Growth	0.00%	0.00%	-5.17%	2.67%	17.83%	-67.90%	284.48%	12.96%	52.73%	-25.29%	-41.11%
EBIT Q/Q Growth	0.00%	0.00%	-6.62%	4.51%	26.95%	-42.34%	47.75%	25.64%	126.80%	-33.28%	-107.94%
NOPAT Q/Q Growth	0.00%	0.00%	-17.13%	1.87%	2.27%	-34.30%	47.35%	42.11%	138.87%	-1.84%	-115.42%
Net Income Q/Q Growth	0.00%	0.00%	1.70%	-1.24%	28.98%	-31.27%	25.29%	136.99%	325.53%	-33.72%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.91%	3.13%	23.08%	-32.25%	25.29%	153.57%	257.14%	-34.84%	-1,942.86%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	15.99%	-9.39%	0.20%	-253.23%	47.10%	37.71%	12.53%	-9.68%	6.70%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	4.48%	6.17%	-80.97%	15.33%	144.37%	113.68%	-59.38%	31.84%
Invested Capital Q/Q Growth	0.00%	0.00%	-1.41%	-1.82%	-2.35%	-0.29%	0.24%	-8.50%	-9.47%	0.45%	-3.62%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.15%	33.52%	34.22%	35.04%	67.62%	14.91%	30.69%	36.63%	36.58%	28.66%	36.91%
EBITDA Margin	32.66%	25.96%	23.65%	32.30%	13.01%	-106.81%	7.86%	26.83%	23.83%	25.13%	12.91%
Operating Margin	21.80%	15.36%	13.29%	18.41%	7.49%	-141.08%	-13.14%	11.84%	12.71%	15.04%	-1.30%
EBIT Margin	21.58%	14.56%	13.15%	22.03%	8.28%	-142.84%	-13.66%	15.67%	12.86%	14.89%	-0.67%
Profit (Net Income) Margin	11.12%	5.10%	94.27%	17.43%	5.56%	-169.48%	-33.19%	6.92%	3.93%	8.70%	-10.90%
Tax Burden Percent	71.70%	62.90%	923.16%	95.40%	90.03%	99.59%	100.44%	100.00%	73.61%	136.97%	102.59%
Interest Burden Percent	71.90%	55.67%	77.66%	82.92%	74.52%	119.15%	241.94%	44.13%	41.50%	42.64%	1,588.24%
Effective Tax Rate	28.30%	37.10%	-823.16%	4.60%	9.97%	0.00%	0.00%	0.00%	26.39%	-36.97%	0.00%
Return on Invested Capital (ROIC)	0.00%	8.21%	46.00%	5.81%	4.26%	-8.88%	-1.44%	3.77%	3.48%	7.46%	-0.33%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-1.39%	14.91%	5.66%	2.00%	-24.65%	-9.48%	0.26%	-1.06%	-1.40%	-7.39%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-0.94%	7.78%	2.45%	0.99%	-16.69%	-8.33%	0.21%	-0.85%	-1.33%	-7.97%
Return on Equity (ROE)	0.00%	7.27%	53.78%	8.26%	5.25%	-25.57%	-9.78%	3.98%	2.63%	6.14%	-8.31%
Cash Return on Invested Capital (CROIC)	0.00%	-191.79%	18.36%	10.66%	-16.47%	1.06%	5.78%	17.00%	5.62%	7.56%	6.58%
Operating Return on Assets (OROA)	0.00%	4.04%	3.75%	6.32%	4.56%	-11.13%	-1.83%	4.03%	3.62%	4.17%	-0.20%
Return on Assets (ROA)	0.00%	1.41%	26.92%	5.00%	3.06%	-13.20%	-4.45%	1.78%	1.11%	2.43%	-3.29%
Return on Common Equity (ROCE)	0.00%	7.37%	54.31%	8.33%	5.29%	-25.79%	-9.88%	4.02%	2.66%	6.22%	-8.44%
Return on Equity Simple (ROE_SIMPLE)	0.00%	3.59%	43.77%	8.47%	4.86%	-29.51%	-10.15%	3.99%	2.78%	6.20%	0.00%
Net Operating Profit after Tax (NOPAT)	420	264	3,425	481	384	-841	-125	296	252	536	-23
NOPAT Margin	15.63%	9.66%	122.71%	17.57%	6.74%	-98.76%	-9.20%	11.84%	9.36%	20.61%	-0.91%
Net Nonoperating Expense Percent (NNEP)	0.00%	9.60%	31.09%	0.15%	2.26%	15.76%	8.04%	3.51%	4.54%	8.86%	7.06%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	3.62%	3.35%	7.20%	-0.33%
Cost of Revenue to Revenue	65.85%	66.48%	65.78%	64.96%	32.38%	85.09%	69.31%	63.37%	63.42%	71.34%	63.09%
SG&A Expenses to Revenue	3.68%	3.30%	4.69%	5.04%	1.09%	11.62%	8.15%	5.40%	5.49%	5.81%	6.30%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	12.35%	18.15%	20.92%	16.62%	10.07%	155.99%	43.83%	24.79%	23.87%	13.62%	38.21%
Earnings before Interest and Taxes (EBIT)	580	397	367	603	471	-1,217	-186	392	347	387	-17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	878	708	660	884	740	-910	107	671	643	653	328
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.67	0.68	0.75	0.68	0.83	0.48	0.77	0.80	0.69
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.75	0.76	0.83	0.69	0.83	0.49	0.78	0.81	0.69
Price to Revenue (P/Rev)	0.00	0.00	1.43	1.39	0.85	3.91	2.70	0.84	1.09	1.12	0.84
Price to Earnings (P/E)	0.00	0.00	1.52	8.07	1.54	0.00	0.00	12.98	30.18	13.70	0.00
Dividend Yield	0.00%	0.00%	24.88%	15.27%	9.40%	13.45%	0.00%	2.99%	8.75%	9.95%	9.31%
Earnings Yield	0.00%	0.00%	65.65%	12.40%	65.14%	0.00%	0.00%	7.70%	3.31%	7.30%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.76	0.77	0.83	0.83	0.91	0.69	0.83	0.88	0.85
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	2.32	2.28	1.46	8.73	5.58	2.02	2.20	2.42	2.23
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	9.79	7.07	11.20	0.00	71.01	7.51	9.22	9.64	17.27
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	17.61	10.36	17.59	0.00	0.00	12.86	17.09	16.26	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	1.89	13.00	21.60	0.00	0.00	17.03	23.48	11.75	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	9.90	14.08	16.60	0.00	0.00	12.33	11.79	14.67	14.23
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	4.73	7.09	0.00	73.90	15.14	3.78	14.55	11.60	12.43
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.79	0.50	0.53	0.60	1.06	1.06	0.91	1.00	1.07	1.25
Long-Term Debt to Equity	0.00	0.79	0.50	0.53	0.60	1.06	1.06	0.91	1.00	1.07	1.25
Financial Leverage	0.00	0.68	0.52	0.43	0.50	0.68	0.88	0.81	0.80	0.95	1.08
Leverage Ratio	0.00	2.57	2.00	1.65	1.72	1.94	2.20	2.24	2.38	2.52	2.53
Compound Leverage Factor	0.00	1.43	1.55	1.37	1.28	2.31	5.32	0.99	0.99	1.08	40.15
Debt to Total Capital	0.00%	44.07%	33.18%	34.54%	37.50%	51.40%	51.48%	47.56%	49.98%	51.66%	55.51%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	44.07%	33.18%	34.54%	37.50%	51.40%	51.48%	47.56%	49.98%	51.66%	55.51%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	-0.72%	-0.55%	-0.54%	-0.44%	-0.50%	-0.54%	-0.59%	-0.61%	-0.69%	-0.80%
Common Equity to Total Capital	0.00%	56.65%	67.37%	65.99%	62.93%	49.11%	49.06%	53.02%	50.63%	49.02%	45.28%
Debt to EBITDA	0.00	4.25	4.49	3.33	5.23	-5.63	43.66	5.80	5.86	5.88	11.70
Net Debt to EBITDA	0.00	3.66	3.81	2.81	4.72	-4.57	37.09	4.45	4.74	5.27	10.90
Long-Term Debt to EBITDA	0.00	4.25	4.49	3.33	5.23	-5.63	43.66	5.80	5.86	5.88	11.70
Debt to NOPAT	0.00	11.43	0.86	6.13	10.09	-6.09	-37.29	13.15	14.91	7.17	-166.15
Net Debt to NOPAT	0.00	9.84	0.73	5.17	9.10	-4.94	-31.68	10.09	12.07	6.42	-154.72
Long-Term Debt to NOPAT	0.00	11.43	0.86	6.13	10.09	-6.09	-37.29	13.15	14.91	7.17	-166.15
Altman Z-Score	0.00	0.00	1.41	1.48	1.52	0.20	0.56	0.72	0.71	0.70	0.45
Noncontrolling Interest Sharing Ratio	0.00%	-1.28%	-1.00%	-0.82%	-0.76%	-0.84%	-1.07%	-1.12%	-1.17%	-1.32%	-1.59%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	3.14	2.71	3.52	2.81	6.91	5.25	3.96	1.55	1.65	1.17
Quick Ratio	0.00	2.80	2.47	3.08	2.42	6.65	5.03	3.75	1.45	1.46	0.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-6,153	1,367	882	-1,483	101	502	1,335	407	543	456
Operating Cash Flow to CapEx	0.00%	175.77%	352.97%	0.00%	0.00%	0.00%	0.00%	1,636.00%	297.63%	218.88%	180.09%
Free Cash Flow to Firm to Interest Expense	0.00	-34.00	11.02	6.94	-10.60	0.47	1.94	5.40	1.62	1.98	1.71
Operating Cash Flow to Interest Expense	2.79	2.20	5.27	3.50	3.56	-2.06	-0.53	1.66	2.00	1.57	1.49
Operating Cash Flow Less CapEx to Interest Expense	11.61	0.95	3.77	5.00	4.91	-1.49	1.02	1.55	1.33	0.85	0.66
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.28	0.29	0.29	0.55	0.08	0.13	0.26	0.28	0.28	0.30
Accounts Receivable Turnover	0.00	20.98	21.89	19.69	34.16	8.27	22.33	22.23	22.39	21.39	20.57
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.32	0.33	0.34	0.65	0.09	0.15	0.30	0.34	0.35	0.35
Accounts Payable Turnover	0.00	10.86	10.06	9.33	9.21	3.98	6.23	8.43	7.96	8.50	7.56
Days Sales Outstanding (DSO)	0.00	17.40	16.67	18.54	10.68	44.13	16.35	16.42	16.30	17.06	17.74
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	33.62	36.28	39.11	39.63	91.63	58.58	43.29	45.87	42.92	48.27
Cash Conversion Cycle (CCC)	0.00	-16.22	-19.61	-20.57	-28.95	-47.50	-42.23	-26.87	-29.56	-25.85	-30.53
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	6,417	8,475	8,074	9,941	8,999	8,372	7,333	7,178	7,171	6,692
Invested Capital Turnover	0.00	0.85	0.37	0.33	0.63	0.09	0.16	0.32	0.37	0.36	0.37
Increase / (Decrease) in Invested Capital	0.00	6,417	2,058	-401	1,867	-942	-627	-1,039	-155	-7.00	-479
Enterprise Value (EV)	0.00	0.00	6,463	6,249	8,285	7,435	7,598	5,041	5,929	6,292	5,665
Market Capitalization	0.00	0.00	3,999	3,807	4,840	3,329	3,678	2,103	2,927	2,904	2,146
Book Value per Share	$0.00	$19.56	$27.98	$27.99	$27.14	$20.77	$18.83	$19.30	$18.16	$17.66	$15.66
Tangible Book Value per Share	$0.00	$16.28	$24.97	$24.84	$24.41	$20.58	$18.64	$19.11	$17.96	$17.46	$15.46
Total Capital	0.00	6,835	8,923	8,534	10,322	9,964	9,075	8,183	7,533	7,435	6,914
Total Debt	0.00	3,012	2,961	2,948	3,871	5,121	4,672	3,892	3,765	3,841	3,838
Total Long-Term Debt	0.00	3,012	2,961	2,948	3,871	5,121	4,672	3,892	3,765	3,841	3,838
Net Debt	0.00	2,594	2,513	2,488	3,490	4,156	3,969	2,986	3,048	3,439	3,574
Capital Expenditures (CapEx)	-1,640	227	185	-191	-189	-121	-400	25	169	196	221
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	21	-25	52	46	-82	-25	-89	-401	-164	-198
Debt-free Net Working Capital (DFNWC)	0.00	358	339	462	392	869	663	817	316	238	66
Net Working Capital (NWC)	0.00	358	339	462	392	869	663	817	316	238	66
Net Nonoperating Expense (NNE)	121	125	794	3.82	68	603	327	123	146	310	254
Net Nonoperating Obligations (NNO)	0.00	2,594	2,513	2,488	3,490	4,156	3,969	3,042	3,410	3,577	3,616
Total Depreciation and Amortization (D&A)	298	311	293	281	269	307	293	279	296	266	345
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.77%	-0.90%	1.90%	0.81%	-9.62%	-1.84%	-3.56%	-14.86%	-6.31%	-7.79%
Debt-free Net Working Capital to Revenue	0.00%	13.13%	12.15%	16.88%	6.89%	102.00%	48.68%	32.67%	11.71%	9.16%	2.60%
Net Working Capital to Revenue	0.00%	13.13%	12.15%	16.88%	6.89%	102.00%	48.68%	32.67%	11.71%	9.16%	2.60%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.48	$0.67	$12.38	$2.32	$1.44	($6.11)	($1.95)	$0.71	$0.44	$1.02	($1.43)
Adjusted Weighted Average Basic Shares Outstanding	198M	198M	211M	203M	212M	236M	236M	228M	214M	207M	199M
Adjusted Diluted Earnings per Share	$1.48	$0.67	$12.21	$2.31	$1.44	($6.11)	($1.95)	$0.71	$0.44	$1.01	($1.43)
Adjusted Weighted Average Diluted Shares Outstanding	198M	198M	214M	204M	213M	236M	236M	228M	215M	209M	199M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	198.50M	215.13M	201.55M	240.18M	236.38M	236.47M	222.07M	210.58M	202.04M	201.40M
Normalized Net Operating Profit after Tax (NOPAT)	318	272	277	388	429	-391	-116	202	392	278	199
Normalized NOPAT Margin	11.82%	9.99%	9.93%	14.19%	7.55%	-45.85%	-8.48%	8.09%	14.51%	10.69%	7.82%
Pre Tax Income Margin	15.51%	8.10%	10.21%	18.27%	6.17%	-170.19%	-33.04%	6.92%	5.34%	6.35%	-10.63%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.12	2.19	2.96	4.75	3.36	-5.71	-0.72	1.59	1.38	1.41	-0.06
NOPAT to Interest Expense	2.26	1.46	27.62	3.79	2.74	-3.95	-0.49	1.20	1.00	1.95	-0.09
EBIT Less CapEx to Interest Expense	11.94	0.94	1.47	6.25	4.71	-5.15	0.83	1.49	0.71	0.70	-0.89
NOPAT Less CapEx to Interest Expense	11.08	0.20	26.13	5.29	4.09	-3.38	1.06	1.10	0.33	1.24	-0.91
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.43%	152.52%	14.90%	97.69%	159.18%	-16.76%	-1.33%	9.83%	150.00%	229.65%	-104.69%
Augmented Payout Ratio	29.43%	152.52%	14.90%	170.65%	159.18%	-21.33%	-1.33%	141.04%	319.81%	280.97%	-120.94%

This table displays calculated financial ratios and metrics derived from Park Hotels & Resorts' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	201,398,439.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	201,398,439.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.05
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.57%	-1.20%	-1.39%	-3.92%	-4.42%	-4.87%	-1.41%	-2.04%	-6.01%	0.64%	-1.27%
EBITDA Growth	-4.97%	148.00%	6.80%	741.38%	3.92%	-59.41%	-48.41%	0.54%	-13.21%	-151.66%	59.26%
EBIT Growth	-8.60%	236.59%	13.58%	224.21%	10.59%	-69.93%	-90.22%	-45.76%	-38.30%	-278.31%	588.89%
NOPAT Growth	-14.54%	195.48%	17.90%	314.87%	7.98%	22.89%	-94.49%	-69.13%	-55.00%	-139.79%	1,067.97%
Net Income Growth	-22.50%	437.14%	-12.12%	145.89%	83.87%	-61.17%	-296.55%	-102.99%	-124.56%	-379.45%	121.05%
EPS Growth	-13.33%	514.29%	-13.33%	142.86%	100.00%	-62.79%	-323.08%	-106.67%	-130.77%	-425.00%	117.24%
Operating Cash Flow Growth	-14.19%	80.00%	-11.54%	-19.86%	10.24%	-36.51%	-6.52%	-7.69%	-29.29%	31.25%	-31.40%
Free Cash Flow Firm Growth	-61.14%	-65.15%	75.69%	57.05%	418.69%	-24.18%	-88.74%	-56.70%	-73.09%	23.24%	99.38%
Invested Capital Growth	-1.06%	-2.11%	-9.19%	-6.55%	-9.96%	-0.10%	-1.21%	-3.29%	-2.75%	-6.68%	-1.78%
Revenue Q/Q Growth	-4.90%	-3.24%	-2.74%	7.36%	-5.39%	-3.70%	0.80%	6.67%	-9.23%	3.11%	-1.11%
EBITDA Q/Q Growth	627.59%	143.14%	-57.80%	18.47%	-14.52%	-5.03%	-46.36%	130.86%	-26.20%	-156.52%	265.38%
EBIT Q/Q Growth	189.47%	224.71%	-66.67%	28.26%	-20.34%	-11.70%	-89.16%	611.11%	-9.38%	-355.17%	141.89%
NOPAT Q/Q Growth	223.91%	176.22%	-62.12%	65.74%	-37.73%	214.37%	-98.30%	828.57%	-9.23%	-377.97%	149.85%
Net Income Q/Q Growth	121.23%	506.45%	-84.57%	131.03%	-14.93%	28.07%	-178.08%	96.49%	-600.00%	-1,357.14%	105.88%
EPS Q/Q Growth	118.57%	561.54%	-84.88%	130.77%	-13.33%	23.08%	-190.63%	93.10%	-300.00%	-1,200.00%	104.81%
Operating Cash Flow Q/Q Growth	-13.01%	-0.79%	-26.98%	27.17%	19.66%	-42.86%	7.50%	25.58%	-8.33%	6.06%	-43.81%
Free Cash Flow Firm Q/Q Growth	-59.08%	129.29%	109.33%	-20.04%	35.16%	-66.49%	-68.90%	207.40%	-16.00%	53.48%	-49.69%
Invested Capital Q/Q Growth	2.89%	-9.47%	0.10%	0.22%	-0.86%	0.45%	-1.02%	-1.89%	-0.30%	-3.62%	4.18%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.23%	37.29%	37.40%	39.65%	27.89%	8.48%	35.87%	31.55%	26.39%	53.90%	36.66%
EBITDA Margin	22.53%	56.62%	24.57%	27.11%	24.50%	24.16%	12.86%	27.83%	22.62%	-12.40%	20.74%
Operating Margin	12.52%	42.01%	14.40%	17.64%	14.64%	13.28%	1.11%	9.67%	9.67%	-26.07%	9.97%
EBIT Margin	12.52%	42.01%	14.40%	17.20%	14.48%	13.28%	1.43%	9.52%	9.51%	-23.53%	9.97%
Profit (Net Income) Margin	4.57%	28.61%	4.54%	9.77%	8.78%	11.68%	-9.05%	-0.30%	-2.30%	-32.43%	1.93%
Tax Burden Percent	100.00%	85.07%	96.67%	121.82%	96.61%	347.62%	101.79%	200.00%	175.00%	99.51%	92.31%
Interest Burden Percent	36.47%	80.07%	32.61%	46.61%	62.77%	25.30%	-622.22%	-1.56%	-13.79%	138.51%	20.97%
Effective Tax Rate	0.00%	14.93%	3.33%	-21.82%	3.39%	-247.62%	0.00%	0.00%	0.00%	0.00%	7.69%
Return on Invested Capital (ROIC)	4.25%	13.29%	4.96%	7.67%	4.94%	16.72%	0.28%	2.46%	2.44%	-6.69%	3.31%
ROIC Less NNEP Spread (ROIC-NNEP)	2.84%	11.84%	3.29%	5.42%	4.00%	10.55%	-1.46%	1.11%	0.87%	-9.17%	2.12%
Return on Net Nonoperating Assets (RNNOA)	2.65%	9.48%	2.97%	5.01%	3.88%	10.02%	-1.45%	1.10%	0.87%	-9.89%	2.49%
Return on Equity (ROE)	6.90%	22.77%	7.93%	12.68%	8.82%	26.74%	-1.16%	3.56%	3.31%	-16.58%	5.81%
Cash Return on Invested Capital (CROIC)	2.39%	5.62%	13.08%	13.97%	17.73%	7.56%	8.81%	14.24%	4.91%	6.58%	2.01%
Operating Return on Assets (OROA)	3.55%	11.84%	4.15%	4.95%	4.12%	3.72%	0.41%	2.72%	2.68%	-7.09%	3.05%
Return on Assets (ROA)	1.29%	8.06%	1.31%	2.81%	2.50%	3.27%	-2.61%	-0.09%	-0.65%	-9.78%	0.59%
Return on Common Equity (ROCE)	6.97%	23.03%	8.02%	12.83%	8.92%	27.09%	-1.18%	3.61%	3.36%	-16.84%	5.91%
Return on Equity Simple (ROE_SIMPLE)	-1.18%	0.00%	2.69%	8.33%	9.09%	0.00%	4.01%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	85	235	89	147	92	289	4.90	46	41	-115	57
NOPAT Margin	12.52%	35.74%	13.92%	21.49%	14.14%	46.16%	0.78%	6.77%	6.77%	-18.25%	9.20%
Net Nonoperating Expense Percent (NNEP)	1.41%	1.45%	1.67%	2.25%	0.94%	6.17%	1.74%	1.35%	1.57%	2.48%	1.19%
Return On Investment Capital (ROIC_SIMPLE)	-	3.12%	-	-	-	3.88%	0.07%	0.63%	0.58%	-1.66%	0.81%
Cost of Revenue to Revenue	63.77%	62.71%	62.60%	60.35%	72.11%	91.52%	64.13%	68.45%	73.61%	46.10%	63.34%
SG&A Expenses to Revenue	5.45%	5.63%	5.95%	5.54%	5.86%	5.92%	6.19%	6.25%	6.56%	6.20%	6.75%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	23.71%	-4.72%	23.00%	22.01%	13.25%	-4.80%	34.76%	21.88%	16.72%	79.97%	26.69%
Earnings before Interest and Taxes (EBIT)	85	276	92	118	94	83	9.00	64	58	-148	62
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	153	372	157	186	159	151	81	187	138	-78	129
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.57	0.77	0.95	0.83	0.79	0.80	0.62	0.59	0.60	0.69	0.69
Price to Tangible Book Value (P/TBV)	0.58	0.78	0.96	0.84	0.79	0.81	0.62	0.60	0.61	0.69	0.70
Price to Revenue (P/Rev)	0.85	1.09	1.34	1.19	1.12	1.12	0.83	0.79	0.80	0.84	0.84
Price to Earnings (P/E)	0.00	30.18	39.25	10.31	8.85	13.70	16.99	35.18	0.00	0.00	0.00
Dividend Yield	6.60%	8.75%	7.68%	9.48%	10.78%	9.95%	13.11%	13.72%	13.79%	9.31%	9.50%
Earnings Yield	0.00%	3.31%	2.55%	9.70%	11.30%	7.30%	5.89%	2.84%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.79	0.83	0.97	0.91	0.88	0.88	0.80	0.79	0.80	0.85	0.85
Enterprise Value to Revenue (EV/Rev)	2.30	2.20	2.58	2.45	2.39	2.42	2.20	2.14	2.18	2.23	2.35
Enterprise Value to EBITDA (EV/EBITDA)	14.81	9.22	10.64	7.51	7.18	9.64	9.89	9.52	9.94	17.27	15.84
Enterprise Value to EBIT (EV/EBIT)	40.75	17.09	19.41	11.41	10.82	16.26	18.78	22.02	25.86	0.00	165.41
Enterprise Value to NOPAT (EV/NOPAT)	58.98	23.48	26.68	12.15	11.50	11.75	10.53	7.13	36.95	0.00	386.67
Enterprise Value to Operating Cash Flow (EV/OCF)	13.95	11.79	14.15	14.11	13.21	14.67	13.49	13.30	14.84	14.23	16.05
Enterprise Value to Free Cash Flow (EV/FCFF)	32.69	14.55	7.04	6.26	4.70	11.60	9.07	5.46	16.01	12.43	42.11
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.20	1.00	1.01	1.03	1.04	1.07	1.12	1.13	1.15	1.25	1.33
Long-Term Debt to Equity	1.20	1.00	1.01	1.03	1.04	1.07	1.12	1.13	1.15	1.25	1.33
Financial Leverage	0.93	0.80	0.90	0.92	0.97	0.95	0.99	0.99	1.00	1.08	1.18
Leverage Ratio	2.31	2.38	2.35	2.39	2.42	2.52	2.51	2.53	2.56	2.53	2.56
Compound Leverage Factor	0.84	1.90	0.77	1.11	1.52	0.64	-15.59	-0.04	-0.35	3.50	0.54
Debt to Total Capital	54.48%	49.98%	50.15%	50.79%	50.98%	51.66%	52.78%	53.13%	53.58%	55.51%	57.15%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	54.48%	49.98%	50.15%	50.79%	50.98%	51.66%	52.78%	53.13%	53.58%	55.51%	57.15%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	-0.51%	-0.61%	-0.63%	-0.58%	-0.60%	-0.69%	-0.80%	-0.77%	-0.78%	-0.80%	-0.78%
Common Equity to Total Capital	46.03%	50.63%	50.48%	49.79%	49.62%	49.02%	48.01%	47.65%	47.20%	45.28%	43.63%
Debt to EBITDA	11.20	5.86	5.76	4.44	4.41	5.88	6.66	6.64	6.89	11.70	10.76
Net Debt to EBITDA	9.48	4.74	5.19	3.93	3.86	5.27	6.25	6.09	6.39	10.90	10.34
Long-Term Debt to EBITDA	11.20	5.86	5.76	4.44	4.41	5.88	6.66	6.64	6.89	11.70	10.76
Debt to NOPAT	44.61	14.91	14.45	7.19	7.07	7.17	7.08	4.98	25.63	-166.15	262.66
Net Debt to NOPAT	37.74	12.07	13.00	6.35	6.19	6.42	6.65	4.56	23.77	-154.72	252.53
Long-Term Debt to NOPAT	44.61	14.91	14.45	7.19	7.07	7.17	7.08	4.98	25.63	-166.15	262.66
Altman Z-Score	0.62	0.68	0.72	0.68	0.64	0.59	0.47	0.48	0.45	0.39	0.46
Noncontrolling Interest Sharing Ratio	-1.09%	-1.17%	-1.21%	-1.15%	-1.16%	-1.32%	-1.46%	-1.40%	-1.44%	-1.59%	-1.75%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.19	1.55	2.02	2.28	2.23	1.65	1.59	1.78	1.56	1.17	0.96
Quick Ratio	2.04	1.45	1.80	2.02	2.03	1.46	1.35	1.53	1.37	0.90	0.79
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	170	390	816	652	882	296	92	283	237	364	183
Operating Cash Flow to CapEx	178.87%	140.00%	131.43%	229.41%	325.58%	250.00%	111.69%	251.16%	145.59%	97.22%	81.94%
Free Cash Flow to Firm to Interest Expense	2.62	5.91	12.18	9.46	12.78	4.28	1.35	4.09	3.44	5.97	3.59
Operating Cash Flow to Interest Expense	1.95	1.91	1.37	1.70	2.03	1.16	1.26	1.57	1.43	1.72	1.16
Operating Cash Flow Less CapEx to Interest Expense	0.86	0.55	0.33	0.96	1.41	0.70	0.13	0.94	0.45	-0.05	-0.25
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.28	0.28	0.29	0.29	0.28	0.28	0.29	0.29	0.28	0.30	0.31
Accounts Receivable Turnover	18.47	22.39	21.09	19.93	19.27	21.39	20.72	19.66	20.46	20.57	18.97
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.33	0.34	0.34	0.35	0.34	0.35	0.35	0.35	0.35	0.35	0.35
Accounts Payable Turnover	6.28	7.96	7.23	6.52	6.36	8.50	8.54	7.91	7.66	7.56	7.29
Days Sales Outstanding (DSO)	19.76	16.30	17.31	18.31	18.94	17.06	17.62	18.56	17.84	17.74	19.24
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	58.14	45.87	50.46	55.99	57.42	42.92	42.73	46.14	47.62	48.27	50.06
Cash Conversion Cycle (CCC)	-38.38	-29.56	-33.15	-37.68	-38.49	-25.85	-25.11	-27.58	-29.78	-30.53	-30.83
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,929	7,178	7,185	7,201	7,139	7,171	7,098	6,964	6,943	6,692	6,972
Invested Capital Turnover	0.34	0.37	0.36	0.36	0.35	0.36	0.36	0.36	0.36	0.37	0.36
Increase / (Decrease) in Invested Capital	-85	-155	-727	-505	-790	-7.00	-87	-237	-196	-479	-126
Enterprise Value (EV)	6,234	5,929	6,950	6,518	6,276	6,292	5,708	5,505	5,535	5,665	5,955
Market Capitalization	2,289	2,927	3,611	3,155	2,946	2,904	2,158	2,040	2,030	2,146	2,121
Book Value per Share	$18.47	$18.16	$18.13	$17.95	$17.96	$17.66	$17.29	$17.23	$16.92	$15.66	$15.33
Tangible Book Value per Share	$18.27	$17.96	$17.93	$17.75	$17.76	$17.46	$17.09	$17.02	$16.71	$15.46	$15.13
Total Capital	8,655	7,533	7,506	7,592	7,562	7,435	7,277	7,228	7,165	6,914	7,078
Total Debt	4,715	3,765	3,764	3,856	3,855	3,841	3,841	3,840	3,839	3,838	4,045
Total Long-Term Debt	4,715	3,765	3,764	3,856	3,855	3,841	3,841	3,840	3,839	3,838	4,045
Net Debt	3,989	3,048	3,386	3,407	3,375	3,439	3,608	3,521	3,561	3,574	3,889
Capital Expenditures (CapEx)	71	90	70	51	43	32	77	43	68	108	72
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-217	-401	-93	-80	-116	-164	-75	-91	-114	-198	-171
Debt-free Net Working Capital (DFNWC)	509	316	285	369	364	238	158	228	164	66	-15
Net Working Capital (NWC)	509	316	285	369	364	238	158	228	164	66	-15
Net Nonoperating Expense (NNE)	54	47	60	80	35	216	62	48	55	89	45
Net Nonoperating Obligations (NNO)	3,989	3,410	3,443	3,465	3,432	3,577	3,662	3,576	3,617	3,616	3,939
Total Depreciation and Amortization (D&A)	68	96	65	68	65	68	72	123	80	70	67
Debt-free, Cash-free Net Working Capital to Revenue	-8.02%	-14.86%	-3.46%	-3.01%	-4.41%	-6.31%	-2.90%	-3.53%	-4.49%	-7.79%	-6.75%
Debt-free Net Working Capital to Revenue	18.81%	11.71%	10.60%	13.87%	13.84%	9.16%	6.10%	8.85%	6.46%	2.60%	-0.59%
Net Working Capital to Revenue	18.81%	11.71%	10.60%	13.87%	13.84%	9.16%	6.10%	8.85%	6.46%	2.60%	-0.59%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.13	$0.86	$0.13	$0.31	$0.26	$0.32	($0.29)	($0.02)	($0.08)	($1.04)	$0.05
Adjusted Weighted Average Basic Shares Outstanding	212M	214M	209M	209M	206M	207M	200M	199M	199M	199M	199M
Adjusted Diluted Earnings per Share	$0.13	$0.86	$0.13	$0.30	$0.26	$0.32	($0.29)	($0.02)	($0.08)	($1.04)	$0.05
Adjusted Weighted Average Diluted Shares Outstanding	212M	215M	211M	211M	208M	209M	200M	199M	199M	199M	200M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	209.98M	210.58M	210.60M	208.92M	206.40M	202.04M	199.89M	199.91M	199.90M	201.40M	201.36M
Normalized Net Operating Profit after Tax (NOPAT)	60	235	95	90	92	53	54	45	41	60	63
Normalized NOPAT Margin	8.76%	35.74%	14.83%	13.06%	14.14%	8.51%	8.56%	6.67%	6.77%	9.46%	10.09%
Pre Tax Income Margin	4.57%	33.64%	4.69%	8.02%	9.09%	3.36%	-8.89%	-0.15%	-1.31%	-32.59%	2.09%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.31	4.18	1.37	1.71	1.36	1.20	0.13	0.93	0.84	-2.43	1.22
NOPAT to Interest Expense	1.31	3.56	1.33	2.14	1.33	4.18	0.07	0.66	0.60	-1.88	1.12
EBIT Less CapEx to Interest Expense	0.22	2.82	0.33	0.97	0.74	0.74	-1.00	0.30	-0.14	-4.20	-0.20
NOPAT Less CapEx to Interest Expense	0.22	2.19	0.28	1.40	0.71	3.72	-1.06	0.04	-0.39	-3.65	-0.29
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-274.47%	150.00%	450.00%	152.06%	146.63%	229.65%	214.29%	421.13%	0.00%	-104.69%	-97.60%
Augmented Payout Ratio	-676.60%	319.81%	523.53%	183.81%	164.22%	280.97%	329.29%	612.68%	0.00%	-120.94%	-97.60%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, data-driven read on Park Hotels & Resorts (PK) using the quarterly figures from the last four years. The focus is on what changes may matter most to retail investors over time, based on the provided statements.

Gross margin recovery in 2025 Q4: Gross profit rose to $339 million on $629 million of revenue, a margin of about 54%, versus a much lower margin in 2024–early 2025 (e.g., 2024 Q4 gross profit of $53 million on $625 million revenue).
Positive quarterly operating cash flow in 2025: Net cash from continuing operating activities was about $105 million in Q4 2025, with similar levels in Q1–Q3 2025 (Q1: ~$105M, Q2: ~$108M, Q3: ~$99M). This shows cash generation from operations despite reported net losses.
Consistent quarterly dividends: Cash dividends per share remained at $0.25 across multiple quarters in 2025, offering predictable income to shareholders.
Liquidity improvement into late 2025: Cash & equivalents were around $278 million by Q3 2025, indicating a stronger liquidity position versus earlier periods.
Revenue stability in the mid-$600s to high-$600s range: Operating revenue generally sits in the $600–$670 million band across 2022–2025, suggesting a stable top line despite quarterly fluctuations.
High leverage remains a structural concern: Long-term debt sits around $3.8–3.95 billion in recent quarters, with total liabilities near $5.4–5.5 billion, indicating substantial balance-sheet leverage.
Persistent earnings quality gaps: Net income to common shareholders is negative in most quarters of 2025 (e.g., -$57 million in Q1 and Q2; -$16 million in Q3; -$205 million in Q4), highlighting ongoing profitability challenges despite cash flow strength.
Negative retained earnings impact: Retained earnings are consistently negative across several periods, reflecting accumulated losses on the balance sheet.
Impairment hit in 2025 Q4: A sizable impairment charge of $249 million in Q4 2025 weighed heavily on operating results and translated to a large net loss for the quarter.
Significant near-term profitability swings: Quarterly net income to common shareholders swung to -$205 million in 2025 Q4 and has shown losses in multiple other recent quarters, underscoring ongoing profitability volatility.

05/11/26 12:59 PM ETAI Generated. May Contain Errors.

Park Hotels & Resorts Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Park Hotels & Resorts' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Park Hotels & Resorts' net income appears to be on a downward trend, with a most recent value of -$277 million in 2025, falling from $299 million in 2015. The previous period was $226 million in 2024. See Park Hotels & Resorts' forecast for analyst expectations on what's next for the company.

Park Hotels & Resorts' total operating income in 2025 was -$33 million, based on the following breakdown:

Total Gross Profit: $938 million
Total Operating Expenses: $971 million

Over the last 10 years, Park Hotels & Resorts' total revenue changed from $2.69 billion in 2015 to $2.54 billion in 2025, a change of -5.5%.

Park Hotels & Resorts' total liabilities were at $4.62 billion at the end of 2025, a 16.9% decrease from 2024, and a 23.1% decrease since 2016.

In the past 9 years, Park Hotels & Resorts' cash and equivalents has ranged from $232 million in 2025 to $951 million in 2020, and is currently $232 million as of their latest financial filing in 2025.

Over the last 10 years, Park Hotels & Resorts' book value per share changed from 0.00 in 2015 to 15.66 in 2025, a change of 1,566.3%.

Related Companies

Financial statements for NYSE:PK last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Park Hotels & Resorts (PK) Financials

Annual Income Statements for Park Hotels & Resorts

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