Park Hotels & Resorts Financials

Source SEC Filings (10-K/10-Q) Updated Feb 20, 2026 Currency USD FYE February

This page shows Park Hotels & Resorts (PK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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 29/100

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

Profitability

Park Hotels & Resorts has an operating margin of 2.2%, meaning the company retains $2 of operating profit per $100 of revenue. This below-average margin results in a low score of 11/100, suggesting thin profitability after operating expenses. This is down from 15.0% the prior year.

Growth

Park Hotels & Resorts's revenue declined 100% year-over-year, from $2.6B to $2K. This contraction results in a growth score of 0/100.

Leverage

Park Hotels & Resorts carries a low D/E ratio of 1.23, meaning only $1.23 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 65/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

Park Hotels & Resorts has a free cash flow margin of 6.8%, earning a moderate score of 34/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Park Hotels & Resorts's ROE of 9.0% shows moderate profitability relative to equity, earning a score of 36/100. This is up from 5.8% the prior year.

Piotroski F-Score Neutral

6/9

Park Hotels & Resorts passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.41x

For every $1 of reported earnings, Park Hotels & Resorts generates $1.41 in operating cash flow ($398 OCF vs $283 net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

0.2x

Park Hotels & Resorts earns $0.2 in operating income for every $1 of interest expense ($33 vs $209). 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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Revenue

$2K

YoY-100.0%

5Y CAGR-92.9%

10Y CAGR-76.3%

Park Hotels & Resorts generated $2K in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.

EBITDA

$369

YoY-100.0%

10Y CAGR-77.0%

Park Hotels & Resorts's EBITDA was $369 in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 100.0% from the prior year.

Free Cash Flow

$102

YoY-100.0%

10Y CAGR-77.4%

Park Hotels & Resorts generated $102 in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 100.0% from the prior year.

Net Income

$283

YoY-100.0%

10Y CAGR-75.0%

Park Hotels & Resorts reported $283 in net income in fiscal year 2025. This represents a decrease of 100.0% from the prior year.

EPS (Diluted)

$1.43

YoY+41.6%

10Y CAGR-0.3%

Park Hotels & Resorts earned $1.43 per diluted share (EPS) in fiscal year 2025. This represents an increase of 41.6% from the prior year.

Cash & Debt

$232

YoY-100.0%

5Y CAGR-95.2%

10Y CAGR-71.8%

Park Hotels & Resorts held $232 in cash against $4K in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.00

YoY-28.6%

5Y CAGR+17.3%

Park Hotels & Resorts paid $1.00 per share in dividends in fiscal year 2025. This represents a decrease of 28.6% from the prior year.

Shares Outstanding

201M

YoY-0.3%

5Y CAGR-3.1%

Park Hotels & Resorts had 201M shares outstanding in fiscal year 2025. This represents a decrease of 0.3% from the prior year.

Gross Margin

72.7%

Park Hotels & Resorts's gross margin was 72.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.

Operating Margin

2.2%

YoY-12.8pp

5Y CAGR+143.3pp

10Y CAGR-19.6pp

Park Hotels & Resorts's operating margin was 2.2% in fiscal year 2025, reflecting core business profitability. This is down 12.8 percentage points from the prior year.

Net Margin

18.8%

YoY+10.6pp

5Y CAGR+187.8pp

10Y CAGR+7.9pp

Park Hotels & Resorts's net profit margin was 18.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 10.6 percentage points from the prior year.

Return on Equity

9.0%

YoY+3.2pp

10Y CAGR-1.4pp

Park Hotels & Resorts's ROE was 9.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.2 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$45

YoY-100.0%

5Y CAGR-94.2%

Park Hotels & Resorts spent $45 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

$296

YoY-100.0%

5Y CAGR-91.9%

10Y CAGR-74.2%

Park Hotels & Resorts invested $296 in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.

PK Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$2K-100.0%	$2.6B-3.7%	$2.7B+7.9%	$2.5B+83.6%	$1.4B+59.9%	$852.0M
Cost of Revenue	$411	N/A	N/A	N/A	N/A	N/A
Gross Profit	$1K	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$72-100.0%	$69.0M+6.2%	$65.0M+3.2%	$63.0M+1.6%	$62.0M-1.6%	$63.0M
Operating Income	$33-100.0%	$391.0M+14.0%	$343.0M+15.9%	$296.0M+265.4%	-$179.0M+85.1%	-$1.2B
Interest Expense	$209-100.0%	$214.0M+3.4%	$207.0M-4.6%	$217.0M-4.8%	$228.0M+7.0%	$213.0M
Income Tax	$7+100.0%	-$61.0M-260.5%	$38.0M	$0-100.0%	$2.0M+133.3%	-$6.0M
Net Income	$283-100.0%	$212.0M+118.6%	$97.0M-40.1%	$162.0M+135.3%	-$459.0M+68.1%	-$1.4B
EPS (Diluted)	$1.43+41.6%	$1.01+129.5%	$0.44-38.0%	$0.71+136.4%	$-1.95+68.1%	$-6.11

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$610.0M-9.2%	$672.0M+6.7%	$630.0M+0.8%	$625.0M-3.7%	$649.0M-5.4%	$686.0M+7.4%	$639.0M-2.7%	$657.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$17.0M-10.5%	$19.0M+5.6%	$18.0M+5.9%	$17.0M0.0%	$17.0M-5.6%	$18.0M+5.9%	$17.0M+13.3%	$15.0M
Operating Income	$59.0M-9.2%	$65.0M+828.6%	$7.0M-91.6%	$83.0M-12.6%	$95.0M-21.5%	$121.0M+31.5%	$92.0M-66.7%	$276.0M
Interest Expense	$53.0M0.0%	$53.0M+1.9%	$52.0M-1.9%	$53.0M-1.9%	$54.0M0.0%	$54.0M+1.9%	$53.0M+1.9%	$52.0M
Income Tax	$6.0M+500.0%	$1.0M0.0%	$1.0M+101.9%	-$52.0M-2700.0%	$2.0M+116.7%	-$12.0M-1300.0%	$1.0M-97.0%	$33.0M
Net Income	-$16.0M-220.0%	-$5.0M+91.2%	-$57.0M-186.4%	$66.0M+22.2%	$54.0M-15.6%	$64.0M+128.6%	$28.0M-85.0%	$187.0M
EPS (Diluted)	$-0.08-300.0%	$-0.02+93.1%	$-0.29-190.6%	$0.32+23.1%	$0.26-13.3%	$0.30+130.8%	$0.13-84.9%	$0.86

PK Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$207-100.0%	$9.2B-2.7%	$9.4B-3.2%	$9.7B-0.1%	$9.7B-8.0%	$10.6B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$232-100.0%	$402.0M-43.9%	$717.0M-20.9%	$906.0M+31.7%	$688.0M-27.7%	$951.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$116-100.0%	$131.0M+17.0%	$112.0M-13.2%	$129.0M+34.4%	$96.0M+269.2%	$26.0M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	-$3K-100.0%	$5.6B-1.5%	$5.7B+3.9%	$5.4B+1.9%	$5.3B-7.0%	$5.7B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$4K-100.0%	$3.9B+2.1%	$3.8B-18.5%	$4.6B-1.3%	$4.7B-8.7%	$5.2B
Total Equity	$3K-100.0%	$3.6B-4.4%	$3.8B-12.1%	$4.3B-2.5%	$4.5B-9.0%	$4.9B
Retained Earnings	$902+100.0%	-$420.0M-22.1%	-$344.0M-2250.0%	$16.0M+119.3%	-$83.0M-122.1%	$376.0M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$8.8B-0.5%	$8.9B-0.3%	$8.9B-2.8%	$9.2B-0.1%	$9.2B+0.1%	$9.2B+0.9%	$9.1B-3.5%	$9.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$278.0M-12.9%	$319.0M+36.9%	$233.0M-42.0%	$402.0M-16.3%	$480.0M+6.9%	$449.0M+18.8%	$378.0M-47.3%	$717.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$124.0M-3.9%	$129.0M+3.2%	$125.0M-4.6%	$131.0M+5.6%	$124.0M-6.8%	$133.0M+6.4%	$125.0M+11.6%	$112.0M
Goodwill	N/A	N/A	N/A	$607.0M0.0%	$607.0M0.0%	$607.0M0.0%	$607.0M+0.2%	$606.0M
Total Liabilities	$5.5B+0.4%	$5.5B+0.3%	$5.5B-1.8%	$5.6B+1.8%	$5.5B+0.7%	$5.4B+1.6%	$5.3B-5.5%	$5.7B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$3.9B-0.1%	$3.9B-0.1%	$3.9B-0.1%	$3.9B-0.4%	$3.9B-0.1%	$3.9B+2.6%	$3.8B0.0%	$3.8B
Total Equity	$3.4B-1.8%	$3.4B-1.4%	$3.5B-4.1%	$3.6B-2.9%	$3.8B-0.7%	$3.8B-0.2%	$3.8B-0.7%	$3.8B
Retained Earnings	-$647.0M-11.6%	-$580.0M-10.5%	-$525.0M-25.0%	-$420.0M-19.0%	-$353.0M+0.6%	-$355.0M+3.3%	-$367.0M-6.7%	-$344.0M

PK Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$398-100.0%	$429.0M-14.7%	$503.0M+23.0%	$409.0M+398.5%	-$137.0M+68.7%	-$438.0M
Capital Expenditures	$296-100.0%	$227.0M-20.4%	$285.0M+69.6%	$168.0M+211.1%	$54.0M-37.2%	$86.0M
Free Cash Flow	$102-100.0%	$202.0M-7.3%	$218.0M-9.5%	$241.0M+226.2%	-$191.0M+63.5%	-$524.0M
Investing Cash Flow	$209+100.0%	-$166.0M+23.5%	-$217.0M-349.4%	$87.0M-77.9%	$394.0M+231.1%	$119.0M
Financing Cash Flow	$365+100.0%	-$573.0M-20.6%	-$475.0M-48.4%	-$320.0M+32.6%	-$475.0M-152.0%	$914.0M
Dividends Paid	$280-100.0%	$512.0M+236.8%	$152.0M+2071.4%	$7.0M	$0-100.0%	$241.0M
Share Buybacks	$45-100.0%	$116.0M-35.6%	$180.0M-20.7%	$227.0M	$0-100.0%	$66.0M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	$99.0M-8.3%	$108.0M+25.6%	$86.0M+7.5%	$80.0M-42.9%	$140.0M+19.7%	$117.0M+27.2%	$92.0M-27.0%	$126.0M
Capital Expenditures	$68.0M+58.1%	$43.0M-44.2%	$77.0M+22.2%	$63.0M+46.5%	$43.0M-15.7%	$51.0M-27.1%	$70.0M-22.2%	$90.0M
Free Cash Flow	$31.0M-52.3%	$65.0M+622.2%	$9.0M-47.1%	$17.0M-82.5%	$97.0M+47.0%	$66.0M+200.0%	$22.0M-38.9%	$36.0M
Investing Cash Flow	-$68.0M-312.5%	$32.0M+141.6%	-$77.0M-140.6%	-$32.0M-146.2%	-$13.0M+74.5%	-$51.0M+27.1%	-$70.0M+44.4%	-$126.0M
Financing Cash Flow	-$69.0M-30.2%	-$53.0M+72.0%	-$189.0M-50.0%	-$126.0M-35.5%	-$93.0M-1262.5%	$8.0M+102.2%	-$362.0M-905.6%	-$36.0M
Dividends Paid	$51.0M+2.0%	$50.0M-61.8%	$131.0M+147.2%	$53.0M+1.9%	$52.0M0.0%	$52.0M-85.4%	$355.0M+1009.4%	$32.0M
Share Buybacks	$0	$0-100.0%	$45.0M-19.6%	$56.0M+60.0%	$35.0M+40.0%	$25.0M	$0	$0

PK Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	72.7%	N/A	N/A	N/A	N/A	N/A
Operating Margin	2.2%-12.8pp	15.0%+2.3pp	12.7%+0.9pp	11.8%+25.0pp	-13.1%+127.9pp	-141.1%
Net Margin	18.8%+10.6pp	8.2%+4.6pp	3.6%-2.9pp	6.5%+40.2pp	-33.7%+135.3pp	-169.0%
Return on Equity	9.0%+3.2pp	5.8%+3.3pp	2.5%-1.2pp	3.7%	N/A	N/A
Return on Assets	136.7%+134.4pp	2.3%+1.3pp	1.0%-0.6pp	1.7%+6.4pp	-4.7%+8.9pp	-13.6%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.23+0.2	1.06+0.1	0.99-0.1	1.07+0.0	1.060.0	1.05
FCF Margin	6.8%-1.0pp	7.8%-0.3pp	8.1%-1.6pp	9.6%+23.7pp	-14.0%+47.5pp	-61.5%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	9.7%0.0pp	9.7%+8.6pp	1.1%-12.2pp	13.3%-1.4pp	14.6%-3.0pp	17.6%+3.2pp	14.4%-27.6pp	42.0%
Net Margin	-2.6%-1.9pp	-0.7%+8.3pp	-9.0%-19.6pp	10.6%+2.2pp	8.3%-1.0pp	9.3%+4.9pp	4.4%-24.1pp	28.5%
Return on Equity	N/A	N/A	N/A	1.8%+0.4pp	1.4%-0.2pp	1.7%+0.9pp	0.7%-4.2pp	4.9%
Return on Assets	-0.2%-0.1pp	-0.1%+0.6pp	-0.6%-1.4pp	0.7%+0.1pp	0.6%-0.1pp	0.7%+0.4pp	0.3%-1.7pp	2.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.14+0.0	1.12+0.0	1.11+0.0	1.06+0.0	1.030.0	1.03+0.0	1.000.0	0.99
FCF Margin	5.1%-4.6pp	9.7%+8.2pp	1.4%-1.3pp	2.7%-12.2pp	14.9%+5.3pp	9.6%+6.2pp	3.4%-2.0pp	5.5%

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Frequently Asked Questions

What is Park Hotels & Resorts's annual revenue?

Park Hotels & Resorts (PK) reported $2K in total revenue for fiscal year 2025. This represents a -100.0% 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 Park Hotels & Resorts's revenue growing?

Park Hotels & Resorts (PK) revenue declined by 100% year-over-year, from $2.6B to $2K in fiscal year 2025.

Is Park Hotels & Resorts profitable?

Yes, Park Hotels & Resorts (PK) reported a net income of $283 in fiscal year 2025, with a net profit margin of 18.8%.

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

Park Hotels & Resorts (PK) reported diluted earnings per share of $1.43 for fiscal year 2025. This represents a 41.6% 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.

What is Park Hotels & Resorts's EBITDA?

Park Hotels & Resorts (PK) had EBITDA of $369 in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Park Hotels & Resorts have?

As of fiscal year 2025, Park Hotels & Resorts (PK) had $232 in cash and equivalents against $4K in long-term debt.

What is Park Hotels & Resorts's gross margin?

Park Hotels & Resorts (PK) had a gross margin of 72.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Park Hotels & Resorts's operating margin?

Park Hotels & Resorts (PK) had an operating margin of 2.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Park Hotels & Resorts's net profit margin?

Park Hotels & Resorts (PK) had a net profit margin of 18.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Park Hotels & Resorts pay dividends?

Yes, Park Hotels & Resorts (PK) paid $1.00 per share in dividends during fiscal year 2025.

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

Park Hotels & Resorts (PK) has a return on equity of 9.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Park Hotels & Resorts's free cash flow?

Park Hotels & Resorts (PK) generated $102 in free cash flow during fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Park Hotels & Resorts's operating cash flow?

Park Hotels & Resorts (PK) generated $398 in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Park Hotels & Resorts's total assets?

Park Hotels & Resorts (PK) had $207 in total assets as of fiscal year 2025, including both current and long-term assets.

What are Park Hotels & Resorts's capital expenditures?

Park Hotels & Resorts (PK) invested $296 in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Park Hotels & Resorts buy back shares?

Yes, Park Hotels & Resorts (PK) spent $45 on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Park Hotels & Resorts have outstanding?

Park Hotels & Resorts (PK) had 201M shares outstanding as of fiscal year 2025.

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

Park Hotels & Resorts (PK) had a debt-to-equity ratio of 1.23 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

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

Park Hotels & Resorts (PK) had a return on assets of 136.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

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

Park Hotels & Resorts (PK) has a Piotroski F-Score of 6 out of 9, indicating neutral 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 Park Hotels & Resorts's earnings high quality?

Park Hotels & Resorts (PK) has an earnings quality ratio of 1.41x, considered cash-backed (high 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 Park Hotels & Resorts cover its interest payments?

Park Hotels & Resorts (PK) has an interest coverage ratio of 0.2x, 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 Park Hotels & Resorts?

Park Hotels & Resorts (PK) scores 29 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.