BHR · Braemar Hotels & Resorts Inc. - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · BHR

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$704.01M	$728.40M	$739.34M	$669.59M	$427.54M	$226.97M
Cost of Revenue	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-
R&D	-	-	-	-	-	-
SG&A	$11.75M	$14.36M	$13.52M	$18.08M	$8.72M	$6.66M
Total Operating Expenses	$714.45M	$687.82M	$677.67M	$601.19M	$426.79M	$316.97M
D&A	$92.58M	$98.73M	$93.27M	$78.12M	$73.76M	$73.37M
Operating Income	$72.36M	$128.75M	$61.67M	$68.39M	$1.45M	($79.85M)
Interest Expense	$98.54M	$108.12M	$94.22M	$52.17M	$30.90M	$45.10M
Income Tax	$1.98M	$842.0K	$2.69M	$4.04M	$1.32M	($4.41M)
Net Income	($22.32M)	($1.69M)	($27.02M)	$17.76M	($26.66M)	($105.26M)
EPS - Basic	($1.07)	($0.77)	($1.13)	($0.15)	($0.76)	($3.39)
EPS - Diluted	($1.07)	($0.77)	($1.13)	($0.15)	($0.76)	($3.39)

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$124.35M	$135.47M	$85.60M	$261.54M	$216.00M	$78.61M
Accounts Receivable	-	-	-	-	-	-
Inventory	$4.74M	$4.66M	$5.00M	$5.24M	$3.13M	$2.55M
Accounts Payable	-	-	-	-	-	-
Current Assets	-	-	-	-	-	-
Total Assets	$1.86B	$2.14B	$2.23B	$2.40B	$1.88B	$1.67B
Current Liabilities	-	-	-	-	-	-
Long-term Debt	$1.10B	$1.21B	$1.16B	$1.33B	$1.17B	$1.13B
Total Liabilities	$1.34B	$1.41B	$1.41B	$1.57B	$1.36B	$1.28B
Stockholders' Equity	$138.68M	$240.73M	$306.98M	$410.11M	$398.85M	$276.26M
Retained Earnings	($568.50M)	($477.80M)	($412.20M)	($324.74M)	($309.24M)	($266.01M)

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$40.78M	$66.82M	$84.71M	$109.48M	$63.95M	($50.29M)
Investing Cash Flow	$209.63M	$35.51M	($77.07M)	($402.22M)	($41.68M)	($16.54M)
Financing Cash Flow	($268.63M)	($83.77M)	($156.84M)	$345.06M	$127.95M	$49.59M
CapEx	-	-	$0	$0	-	-
Free Cash Flow	-	-	$84.71M	$109.48M	-	-

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	-	-	-	-	-	-
Operating margin	10.3%	17.7%	8.3%	10.2%	0.3%	-35.2%
EBITDA margin	23.4%	31.2%	21.0%	21.9%	17.6%	-2.9%
Net margin	-3.2%	-0.2%	-3.7%	2.7%	-6.2%	-46.4%
Free cash flow margin	-	-	11.5%	16.4%	-	-
FCF / Net income	-	-	-3.14	6.16	-	-
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	1.7%	2.0%	1.8%	2.7%	2.0%	2.9%
Effective tax rate	-	-	-	18.5%	-	-
Return on assets	-1.2%	-0.1%	-1.2%	0.7%	-1.4%	-6.3%
Return on equity	-16.1%	-0.7%	-8.8%	4.3%	-6.7%	-38.1%
Return on invested capital	4.6%	7.0%	3.3%	3.2%	0.1%	-4.5%
Liquidity
Current ratio	-	-	-	-	-	-
Quick ratio	-	-	-	-	-	-
Cash ratio	-	-	-	-	-	-
Leverage
Debt / Equity	7.96	5.03	3.79	3.25	2.94	4.09
Debt / Assets	0.59	0.57	0.52	0.56	0.62	0.68
Debt / EBITDA	6.69	5.32	7.50	9.11	15.59	-
Interest coverage	0.7x	1.2x	0.7x	1.3x	0.0x	-1.8x
Equity multiplier	13.42	8.87	7.25	5.85	4.71	6.06
Liabilities / Assets	0.72	0.66	0.63	0.66	0.72	0.76
Efficiency
Asset turnover	0.38	0.34	0.33	0.28	0.23	0.14
Inventory turnover	-	-	-	-	-	-
Days sales outstanding	-	-	-	-	-	-
Days inventory outstanding	-	-	-	-	-	-
Days payable outstanding	-	-	-	-	-	-
Cash conversion cycle	-	-	-	-	-	-
Valuation
P / E	-	-	-	-	-	-
P / B	1.4x	0.8x	0.5x	0.7x	0.7x	0.6x
P / S	0.3x	0.3x	0.2x	0.4x	0.6x	0.7x
EV / EBITDA	7.1x	5.6x	8.0x	9.3x	16.3x	-
Growth
Revenue growth (YoY)	-3.3%	-1.5%	10.4%	56.6%	88.4%	-53.5%
Revenue CAGR (3y)	1.7%	19.4%	48.2%	11.2%	-0.3%	-18.2%
Revenue CAGR (5y)	25.4%	8.4%	11.4%	10.1%	1.0%	-8.3%
Gross profit growth (YoY)	-	-	-	-	-	-
Operating income growth (YoY)	-43.8%	108.8%	-9.8%	4620.0%	-	-
Net income growth (YoY)	-1218.3%	93.7%	-	-	74.7%	-
EPS growth (YoY)	-39.0%	31.9%	-653.3%	80.3%	77.6%	-959.4%
EPS CAGR (3y)	-	-	-	-	-	-
EPS CAGR (5y)	-	-	-	-	-	-
FCF growth (YoY)	-	-	-22.6%	-	-	-
FCF CAGR (5y)	-	-	-	-	-	-
Book value growth (YoY)	-42.4%	-21.6%	-25.1%	2.8%	44.4%	-25.2%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Product / service

$1.41B total

Hotel$704.01M · 50.0%

Occupancy$428.99M · 30.5%

Food And Beverage$179.54M · 12.8%

Hotel Other$95.49M · 6.8%

Geographic

$704.01M total

FL$124.76M · 17.7%

CA$99.71M · 14.2%

PR$86.91M · 12.3%

AZ$79.27M · 11.3%

VI$67.93M · 9.6%

DC$64.58M · 9.2%

Sold Properties$61.32M · 8.7%

CO$45.49M · 6.5%

IL$37.52M · 5.3%

PA$36.52M · 5.2%

Stability scores

Piotroski F-score

FY 2025 · 9-point quality

4/9

Neutral

✗Net income positive
✓Operating cash flow positive
✗ROA improved YoY
✓Cash flow > net income
✓Long-term debt decreased
-Current ratio improved
✗No share dilution
-Gross margin improved
✓Asset turnover improved

Peer comparison

Same SIC group: Real Estate Investment Trusts

Company	Revenue (last FY)	Net margin	ROE
UMH	$261.75M	2.3%	0.7%
ARE	-	-	-9.2%
VTR	$5.83B	4.3%	2.0%
SPG	$6.36B	72.7%	88.8%
NYSE: KRC	$1.11B	0.0%	0.0%

Comparing Braemar Hotels & Resorts Inc. against the 5 most active filers in the same SIC group.

Dividends

$0.15/share trailing 12 months · -25.0% YoY

Ex-date	Per share
Dec 31, 2025	$0.0500
Sep 30, 2025	$0.0500
Jun 30, 2025	$0.0500
Mar 31, 2025	$0.0500
Dec 31, 2024	$0.0500
Sep 30, 2024	$0.0500
Jun 28, 2024	$0.0500
Mar 27, 2024	$0.0500
Dec 28, 2023	$0.0500
Sep 28, 2023	$0.0500
Jun 29, 2023	$0.0500
Mar 30, 2023	$0.0500
Dec 29, 2022	$0.0500
Sep 29, 2022	$0.0100
Jun 29, 2022	$0.0100
Mar 30, 2022	$0.0100
Dec 30, 2019	$0.1600
Sep 27, 2019	$0.1584
Jun 27, 2019	$0.1584
Mar 28, 2019	$0.1584
Dec 28, 2018	$0.1584
Sep 27, 2018	$0.1584
Jun 28, 2018	$0.1584
Mar 28, 2018	$0.1584