What is Braemar Hotels & Resorts Inc's earnings per share (EPS)?

Braemar Hotels & Resorts Inc (BHR) reported diluted earnings per share of $-1.07 for fiscal year 2025. This represents a -39.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Braemar Hotels & Resorts Inc Financials

BHR

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Braemar Hotels & Resorts Inc (BHR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 18/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Braemar Hotels & Resorts Inc has an operating margin of 10.3%, meaning the company retains $10 of operating profit per $100 of revenue. This results in a moderate score of 45/100, indicating healthy but not exceptional operating efficiency. This is down from 17.7% the prior year.

Growth

Braemar Hotels & Resorts Inc's revenue declined 3.3% year-over-year, from $728.4M to $704.0M. This contraction results in a growth score of 28/100.

Leverage

Braemar Hotels & Resorts Inc has elevated debt relative to equity (D/E of 7.96), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Returns

Braemar Hotels & Resorts Inc generates a -16.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -0.7% the prior year.

Piotroski F-Score Weak

3/9

Braemar Hotels & Resorts Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Mixed

-1.83x

For every $1 of reported earnings, Braemar Hotels & Resorts Inc generates $-1.83 in operating cash flow ($40.8M OCF vs -$22.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

0.7x

Braemar Hotels & Resorts Inc earns $0.7 in operating income for every $1 of interest expense ($72.4M vs $98.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$704.0M

YoY-3.3%

5Y CAGR+25.4%

10Y CAGR+7.3%

Braemar Hotels & Resorts Inc generated $704.0M in revenue in fiscal year 2025. This represents a decrease of 3.3% from the prior year.

EBITDA

$164.9M

YoY-27.5%

10Y CAGR+6.3%

Braemar Hotels & Resorts Inc's EBITDA was $164.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 27.5% from the prior year.

Net Income

-$22.3M

YoY-1218.3%

Braemar Hotels & Resorts Inc reported -$22.3M in net income in fiscal year 2025. This represents a decrease of 1218.3% from the prior year.

EPS (Diluted)

$-1.07

YoY-39.0%

Braemar Hotels & Resorts Inc earned $-1.07 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 39.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$124.4M

YoY-8.2%

5Y CAGR+9.6%

10Y CAGR+1.7%

Braemar Hotels & Resorts Inc held $124.4M in cash against $1.1B in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.20

YoY+0.0%

10Y CAGR-5.4%

Braemar Hotels & Resorts Inc paid $0.20 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

68M

YoY+2.4%

5Y CAGR+12.3%

10Y CAGR+9.1%

Braemar Hotels & Resorts Inc had 68M shares outstanding in fiscal year 2025. This represents an increase of 2.4% from the prior year.

Margins & Returns

Gross Margin

30.1%

YoY-1.0pp

5Y CAGR+13.8pp

Braemar Hotels & Resorts Inc's gross margin was 30.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.0 percentage points from the prior year.

Operating Margin

10.3%

YoY-7.4pp

5Y CAGR+45.5pp

10Y CAGR-2.9pp

Braemar Hotels & Resorts Inc's operating margin was 10.3% in fiscal year 2025, reflecting core business profitability. This is down 7.4 percentage points from the prior year.

Net Margin

-3.2%

YoY-2.9pp

5Y CAGR+43.2pp

10Y CAGR-1.3pp

Braemar Hotels & Resorts Inc's net profit margin was -3.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.9 percentage points from the prior year.

Return on Equity

-16.1%

YoY-15.4pp

5Y CAGR+22.0pp

10Y CAGR-14.1pp

Braemar Hotels & Resorts Inc's ROE was -16.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 15.4 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$778K

YoY+110.8%

5Y CAGR+24.2%

10Y CAGR-21.6%

Braemar Hotels & Resorts Inc spent $778K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 110.8% from the prior year.

Capital Expenditures

N/A

BHR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$704.0M-3.3%	$728.4M-1.5%	$739.3M+10.4%	$669.6M+56.6%	$427.5M+88.4%	$227.0M
Cost of Revenue	$492.2M-1.9%	$501.7M+0.1%	$501.2M+12.5%	$445.5M+55.2%	$287.0M+51.1%	$190.0M
Gross Profit	$211.8M-6.5%	$226.7M-4.8%	$238.2M+6.3%	$224.1M+59.5%	$140.5M+279.8%	$37.0M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$11.8M-18.2%	$14.4M+6.2%	$13.5M-25.2%	$18.1M+107.5%	$8.7M+30.9%	$6.7M
Operating Income	$72.4M-43.8%	$128.8M+108.8%	$61.7M-9.8%	$68.4M+4620.0%	$1.4M+101.8%	-$79.9M
Interest Expense	$98.5M-8.9%	$108.1M+14.8%	$94.2M+80.6%	$52.2M+68.8%	$30.9M-31.5%	$45.1M
Income Tax	$2.0M+135.0%	$842K-68.7%	$2.7M-33.5%	$4.0M+205.4%	$1.3M+130.0%	-$4.4M
Net Income	-$22.3M-1218.3%	-$1.7M+93.7%	-$27.0M-252.1%	$17.8M+166.6%	-$26.7M+74.7%	-$105.3M
EPS (Diluted)	$-1.07-39.0%	$-0.77+31.9%	$-1.13-653.3%	$-0.15+80.3%	$-0.76+77.6%	$-3.39

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$165.6M+15.3%	$143.6M-19.8%	$179.1M-17.0%	$215.8M+24.5%	$173.3M+16.8%	$148.4M-20.9%	$187.6M-14.4%	$219.1M
Cost of Revenue	$119.8M+7.3%	$111.6M-10.7%	$125.0M-7.9%	$135.7M+9.8%	$123.6M+8.7%	$113.7M-11.4%	$128.4M-5.6%	$136.0M
Gross Profit	$45.7M+43.2%	$31.9M-40.9%	$54.0M-32.5%	$80.1M+61.1%	$49.7M+43.4%	$34.7M-41.4%	$59.2M-28.7%	$83.0M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	-$12.1M-140.5%	$29.8M+66.6%	$17.9M-51.3%	$36.7M+872.2%	$3.8M-94.6%	$70.3M+477.7%	$12.2M-71.3%	$42.5M
Interest Expense	$23.2M-8.0%	$25.2M-0.7%	$25.4M+2.2%	$24.8M-6.1%	$26.4M-5.3%	$27.9M+2.3%	$27.3M+3.0%	$26.5M
Income Tax	$1.5M+332.3%	-$648K-87.8%	-$345K-123.5%	$1.5M+298.6%	$368K+142.6%	-$864K-657.9%	-$114K-107.9%	$1.5M
Net Income	-$33.6M-685.0%	$5.7M+205.0%	-$5.5M-149.7%	$11.0M+159.0%	-$18.7M-248.1%	$12.6M+208.9%	-$11.6M-172.6%	$15.9M
EPS (Diluted)	N/A	$-0.12+50.0%	$-0.24-500.0%	$-0.04	N/A	$-0.02+93.9%	$-0.33-760.0%	$0.05

BHR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.9B-12.8%	$2.1B-4.1%	$2.2B-7.1%	$2.4B+27.6%	$1.9B+12.3%	$1.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$124.4M-8.2%	$135.5M+58.3%	$85.6M-67.3%	$261.5M+21.1%	$216.0M+174.8%	$78.6M
Inventory	$4.7M+1.7%	$4.7M-6.8%	$5.0M-4.5%	$5.2M+67.5%	$3.1M+22.6%	$2.6M
Accounts Receivable	$32.8M+3.4%	$31.8M-19.0%	$39.2M-23.8%	$51.4M+117.1%	$23.7M+74.8%	$13.6M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.7B-9.1%	$1.9B-1.3%	$1.9B+22.1%	$1.6B+15.9%	$1.4B+6.1%	$1.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.1B-8.8%	$1.2B+4.1%	$1.2B-12.9%	$1.3B+13.8%	$1.2B+3.7%	$1.1B
Total Equity	$138.7M-42.4%	$240.7M-21.6%	$307.0M-25.1%	$410.1M+2.8%	$398.8M+44.4%	$276.3M
Retained Earnings	-$568.5M-19.0%	-$477.8M-15.9%	-$412.2M-26.9%	-$324.7M-5.0%	-$309.2M-16.3%	-$266.0M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$1.9B-7.3%	$2.0B-2.7%	$2.1B-1.6%	$2.1B-1.8%	$2.1B-1.9%	$2.2B-1.5%	$2.2B-3.1%	$2.3B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$124.4M+6.9%	$116.3M+44.9%	$80.2M-1.8%	$81.7M-39.7%	$135.5M-19.7%	$168.7M+47.2%	$114.6M-16.4%	$137.1M
Inventory	$4.7M+2.4%	$4.6M-2.3%	$4.7M+1.6%	$4.7M0.0%	$4.7M+1.9%	$4.6M-1.3%	$4.6M-1.0%	$4.7M
Accounts Receivable	$32.8M+0.1%	$32.8M+0.4%	$32.7M-18.1%	$39.9M+25.7%	$31.8M-2.2%	$32.5M+0.2%	$32.4M-20.9%	$41.0M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.7B-4.1%	$1.8B-2.3%	$1.8B-1.1%	$1.9B-1.9%	$1.9B-0.3%	$1.9B-1.5%	$1.9B-2.3%	$2.0B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.1B-5.3%	$1.2B-3.8%	$1.2B+0.7%	$1.2B-0.6%	$1.2B+0.2%	$1.2B+7.1%	$1.1B-7.8%	$1.2B
Total Equity	$138.7M-34.5%	$211.9M-5.9%	$225.1M-5.8%	$238.9M-0.8%	$240.7M-13.1%	$276.9M-1.9%	$282.3M-8.1%	$307.3M
Retained Earnings	-$568.5M-10.2%	-$515.8M-2.7%	-$502.4M-4.1%	-$482.6M-1.0%	-$477.8M-8.1%	-$442.2M-1.1%	-$437.3M-6.1%	-$412.0M

BHR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$40.8M-39.0%	$66.8M-21.1%	$84.7M-22.6%	$109.5M+71.2%	$64.0M+227.2%	-$50.3M
Capital Expenditures	N/A	N/A	$0-100.0%	$354.4M+1912.2%	$17.6M	$0
Free Cash Flow	N/A	N/A	$84.7M+134.6%	-$245.0M-628.7%	$46.3M+192.1%	-$50.3M
Investing Cash Flow	$209.6M+490.4%	$35.5M+146.1%	-$77.1M+80.8%	-$402.2M-865.1%	-$41.7M-152.0%	-$16.5M
Financing Cash Flow	-$268.6M-220.7%	-$83.8M+46.6%	-$156.8M-145.5%	$345.1M+169.7%	$128.0M+158.0%	$49.6M
Dividends Paid	$47.3M-8.2%	$51.6M-1.9%	$52.6M+153.2%	$20.8M+128.5%	$9.1M-43.7%	$16.2M
Share Buybacks	$778K+110.8%	$369K-98.1%	$19.3M+160.5%	$7.4M+1871.0%	$376K+43.0%	$263K

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$8.3M+244.8%	-$5.8M-125.0%	$23.0M+52.2%	$15.1M+127.7%	$6.7M+73811.1%	$9K-100.0%	$24.1M-33.1%	$36.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$103.1M-12.7%	$118.2M+4542.8%	$2.5M+117.9%	-$14.2M+17.2%	-$17.2M-118.8%	$91.4M+676.2%	-$15.9M+30.6%	-$22.8M
Financing Cash Flow	-$108.6M-29.1%	-$84.1M-221.8%	-$26.1M+47.5%	-$49.8M-130.7%	-$21.6M+61.0%	-$55.3M-18.6%	-$46.6M-217.4%	$39.7M
Dividends Paid	$11.4M-2.5%	$11.7M-2.3%	$12.0M-1.8%	$12.2M-2.5%	$12.5M-2.1%	$12.8M-2.5%	$13.1M0.0%	$13.1M
Share Buybacks	$0-100.0%	$727K	N/A	N/A	$0	$0-100.0%	$369K	$0

BHR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	30.1%-1.0pp	31.1%-1.1pp	32.2%-1.3pp	33.5%+0.6pp	32.9%+16.6pp	16.3%
Operating Margin	10.3%-7.4pp	17.7%+9.3pp	8.3%-1.9pp	10.2%+9.9pp	0.3%+35.5pp	-35.2%
Net Margin	-3.2%-2.9pp	-0.2%+3.4pp	-3.6%-6.3pp	2.6%+8.9pp	-6.2%+40.1pp	-46.4%
Return on Equity	-16.1%-15.4pp	-0.7%+8.1pp	-8.8%-13.1pp	4.3%+11.0pp	-6.7%+31.4pp	-38.1%
Return on Assets	-1.2%-1.1pp	-0.1%+1.1pp	-1.2%-1.9pp	0.7%+2.2pp	-1.4%+4.9pp	-6.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	7.96+2.9	5.03+1.2	3.79+0.5	3.25+0.3	2.94-1.2	4.09
FCF Margin	N/A	N/A	11.5%+48.0pp	-36.6%-47.4pp	10.8%+33.0pp	-22.2%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	27.6%+5.4pp	22.3%-7.9pp	30.2%-6.9pp	37.1%+8.4pp	28.7%+5.3pp	23.4%-8.2pp	31.6%-6.3pp	37.9%
Operating Margin	-7.3%-28.1pp	20.8%+10.8pp	10.0%-7.0pp	17.0%+14.8pp	2.2%-45.2pp	47.4%+40.9pp	6.5%-12.9pp	19.4%
Net Margin	-20.3%-24.3pp	4.0%+7.1pp	-3.0%-8.1pp	5.1%+15.9pp	-10.8%-19.3pp	8.5%+14.7pp	-6.2%-13.4pp	7.3%
Return on Equity	-24.2%-26.9pp	2.7%+5.1pp	-2.4%-7.0pp	4.6%+12.3pp	-7.8%-12.3pp	4.5%+8.6pp	-4.1%-9.3pp	5.2%
Return on Assets	-1.8%-2.1pp	0.3%+0.5pp	-0.3%-0.8pp	0.5%+1.4pp	-0.9%-1.4pp	0.6%+1.1pp	-0.5%-1.2pp	0.7%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	7.96+2.5	5.50+0.1	5.38+0.3	5.030.0	5.03+0.7	4.36+0.4	4.00+0.0	3.98
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Braemar Hotels & Resorts Inc's annual revenue?

Braemar Hotels & Resorts Inc (BHR) reported $704.0M in total revenue for fiscal year 2025. This represents a -3.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Braemar Hotels & Resorts Inc's revenue growing?

Braemar Hotels & Resorts Inc (BHR) revenue declined by 3.3% year-over-year, from $728.4M to $704.0M in fiscal year 2025.

Is Braemar Hotels & Resorts Inc profitable?

No, Braemar Hotels & Resorts Inc (BHR) reported a net income of -$22.3M in fiscal year 2025, with a net profit margin of -3.2%.

What is Braemar Hotels & Resorts Inc's EBITDA?

Braemar Hotels & Resorts Inc (BHR) had EBITDA of $164.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Braemar Hotels & Resorts Inc have?

As of fiscal year 2025, Braemar Hotels & Resorts Inc (BHR) had $124.4M in cash and equivalents against $1.1B in long-term debt.

What is Braemar Hotels & Resorts Inc's gross margin?

Braemar Hotels & Resorts Inc (BHR) had a gross margin of 30.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Braemar Hotels & Resorts Inc's operating margin?

Braemar Hotels & Resorts Inc (BHR) had an operating margin of 10.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Braemar Hotels & Resorts Inc's net profit margin?

Braemar Hotels & Resorts Inc (BHR) had a net profit margin of -3.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Braemar Hotels & Resorts Inc pay dividends?

Yes, Braemar Hotels & Resorts Inc (BHR) paid $0.20 per share in dividends during fiscal year 2025.

What is Braemar Hotels & Resorts Inc's return on equity (ROE)?

Braemar Hotels & Resorts Inc (BHR) has a return on equity of -16.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Braemar Hotels & Resorts Inc's operating cash flow?

Braemar Hotels & Resorts Inc (BHR) generated $40.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Braemar Hotels & Resorts Inc's total assets?

Braemar Hotels & Resorts Inc (BHR) had $1.9B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Braemar Hotels & Resorts Inc buy back shares?

Yes, Braemar Hotels & Resorts Inc (BHR) spent $778K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Braemar Hotels & Resorts Inc have outstanding?

Braemar Hotels & Resorts Inc (BHR) had 68M shares outstanding as of fiscal year 2025.

What is Braemar Hotels & Resorts Inc's debt-to-equity ratio?

Braemar Hotels & Resorts Inc (BHR) had a debt-to-equity ratio of 7.96 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Braemar Hotels & Resorts Inc's return on assets (ROA)?

Braemar Hotels & Resorts Inc (BHR) had a return on assets of -1.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Braemar Hotels & Resorts Inc's Piotroski F-Score?

Braemar Hotels & Resorts Inc (BHR) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Braemar Hotels & Resorts Inc's earnings high quality?

Braemar Hotels & Resorts Inc (BHR) has an earnings quality ratio of -1.83x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Braemar Hotels & Resorts Inc cover its interest payments?

Braemar Hotels & Resorts Inc (BHR) has an interest coverage ratio of 0.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Braemar Hotels & Resorts Inc?

Braemar Hotels & Resorts Inc (BHR) scores 18 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.