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Braemar Hotels & Resorts Inc.

BHR Clue Score46
United States Fiscal year ends December CIK 0001574085
$1.21 -18.79% Close, 9 Oct 2026
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Price $1.21 −75.10% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue405.9Operating income73.5Net income19.3EPS, diluted0.55Fiscal year 2017Revenue414.1 +2.0%Operating income62.6Net income23.0 +19.2%EPS, diluted0.51Fiscal year 2018Revenue431.4 +4.2%Operating income65.8Net income1.3 −94.3%EPS, diluted−0.19Fiscal year 2019Revenue487.6 +13.0%Operating income64.4Net income0.4 −71.9%EPS, diluted−0.32Fiscal year 2020Revenue227.0 −53.5%Operating income−79.9Net income−105.3 −28,472.5%EPS, diluted−3.39Fiscal year 2021Revenue427.5 +88.4%Operating income1.4Net income−26.7EPS, diluted−0.76Fiscal year 2022Revenue669.6 +56.6%Operating income68.4Net income17.8EPS, diluted−0.15Fiscal year 2023Revenue739.3 +10.4%Operating income61.7Net income−27.0 −252.1%EPS, diluted−1.13Fiscal year 2024Revenue728.4 −1.5%Operating income128.8Net income−1.7EPS, diluted−0.77Fiscal year 2025Revenue704.0 −3.3%Operating income72.4Net income−22.3EPS, diluted−1.07
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 405.9 414.1 431.4 487.6 227.0 427.5 669.6 739.3 728.4 704.0
Growth +2.0% +4.2% +13.0% −53.5% +88.4% +56.6% +10.4% −1.5% −3.3%
Operating income 73.5 62.6 65.8 64.4 −79.9 1.4 68.4 61.7 128.8 72.4
Net income 19.3 23.0 1.3 0.4 −105.3 −26.7 17.8 −27.0 −1.7 −22.3
Growth +19.2% −94.3% −71.9% −28,472.5% −252.1%
EPS, diluted 0.55 0.51 −0.19 −0.32 −3.39 −0.76 −0.15 −1.13 −0.77 −1.07

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin18.1%Net margin4.8%Fiscal year 2017Operating margin15.1%Net margin5.6%Fiscal year 2018Operating margin15.3%Net margin0.3%Fiscal year 2019Operating margin13.2%Net margin0.1%Fiscal year 2020Operating margin−35.2%Net margin−46.4%Free cash flow margin−22.2%Fiscal year 2021Operating margin0.3%Net margin−6.2%Free cash flow margin10.8%Fiscal year 2022Operating margin10.2%Net margin2.7%Free cash flow margin−36.6%Fiscal year 2023Operating margin8.3%Net margin−3.7%Free cash flow margin11.5%Fiscal year 2024Operating margin17.7%Net margin−0.2%Fiscal year 2025Operating margin10.3%Net margin−3.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 18.1% 15.1% 15.3% 13.2% −35.2% 0.3% 10.2% 8.3% 17.7% 10.3%
Net margin 4.8% 5.6% 0.3% 0.1% −46.4% −6.2% 2.7% −3.7% −0.2% −3.2%
Free cash flow margin n/a n/a n/a n/a −22.2% 10.8% −36.6% 11.5% n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow58.6Buybacks−39.2Dividends paid−16.9Fiscal year 2017Operating cash flow70.6Buybacks−0.4Dividends paid−27.1Fiscal year 2018Operating cash flow70.7Buybacks−0.3Dividends paid−30.3Fiscal year 2019Operating cash flow66.3Buybacks−0.4Dividends paid−33.4Fiscal year 2020Operating cash flow−50.3Capital expenditure0.0Free cash flow−50.3Buybacks−0.3Dividends paid−16.2Fiscal year 2021Operating cash flow64.0Capital expenditure−17.6Free cash flow46.3Buybacks−0.4Dividends paid−9.1Fiscal year 2022Operating cash flow109.5Capital expenditure−354.4Free cash flow−245.0 −628.7%Buybacks−7.4Dividends paid−20.8Fiscal year 2023Operating cash flow84.7Capital expenditure0.0Free cash flow84.7Buybacks−19.3Dividends paid−52.6Fiscal year 2024Operating cash flow66.8Buybacks−0.4Dividends paid−51.6Fiscal year 2025Operating cash flow40.8Buybacks−0.8Dividends paid−47.3
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 58.6 70.6 70.7 66.3 −50.3 64.0 109.5 84.7 66.8 40.8
Capital expenditure n/a n/a n/a n/a 0.0 −17.6 −354.4 0.0 n/a n/a
Free cash flow n/a n/a n/a n/a −50.3 46.3 −245.0 84.7 n/a n/a
Growth −628.7%
Buybacks −39.2 −0.4 −0.3 −0.4 −0.3 −0.4 −7.4 −19.3 −0.4 −0.8
Dividends paid −16.9 −27.1 −30.3 −33.4 −16.2 −9.1 −20.8 −52.6 −51.6 −47.3

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash126.8Total debt764.6Net cash (debt)−637.8Shareholders’ equity308.8Debt to equity2.48Fiscal year 2017Cash137.5Total debt821.0Net cash (debt)−683.4Shareholders’ equity381.3Debt to equity2.15Fiscal year 2018Cash182.6Total debt985.9Net cash (debt)−803.3Shareholders’ equity397.5Debt to equity2.48Fiscal year 2019Cash72.0Total debt1,058.5Net cash (debt)−986.5Shareholders’ equity369.3Debt to equity2.87Fiscal year 2020Cash78.6Total debt1,130.6Net cash (debt)−1,052.0Shareholders’ equity276.3Debt to equity4.09Fiscal year 2021Cash216.0Total debt1,172.7Net cash (debt)−956.7Shareholders’ equity398.8Debt to equity2.94Fiscal year 2022Cash261.5Total debt1,334.1Net cash (debt)−1,072.6Shareholders’ equity410.1Debt to equity3.25Fiscal year 2023Cash85.6Total debt1,162.4Net cash (debt)−1,076.8Shareholders’ equity307.0Debt to equity3.79Fiscal year 2024Cash135.5Total debt1,210.0Net cash (debt)−1,074.6Shareholders’ equity240.7Debt to equity5.03Fiscal year 2025Cash124.4Total debt1,103.5Net cash (debt)−979.1Shareholders’ equity138.7Debt to equity7.96
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 126.8 137.5 182.6 72.0 78.6 216.0 261.5 85.6 135.5 124.4
Total debt 764.6 821.0 985.9 1,058.5 1,130.6 1,172.7 1,334.1 1,162.4 1,210.0 1,103.5
Net cash (debt) −637.8 −683.4 −803.3 −986.5 −1,052.0 −956.7 −1,072.6 −1,076.8 −1,074.6 −979.1
Shareholders’ equity 308.8 381.3 397.5 369.3 276.3 398.8 410.1 307.0 240.7 138.7
Debt to equity 2.48 2.15 2.48 2.87 4.09 2.94 3.25 3.79 5.03 7.96

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
18.1% 15.1% 15.3% 13.2% −35.2% 0.3% 10.2% 8.3% 17.7% 10.3%
6.4% 6.7% 1.2% 0.6% −56.9% −7.4% 3.5% −3.8% 2.8% −3.8%
4.8% 5.6% 0.3% 0.1% −46.4% −6.2% 2.7% −3.7% −0.2% −3.2%
n/a n/a n/a n/a −22.2% 10.8% −36.6% 11.5% n/a n/a
Spending
3.5% 2.0% 1.0% 1.1% 2.9% 2.0% 2.7% 1.8% 2.0% 1.7%
n/a n/a n/a n/a 0.0% 4.1% 52.9% 0.0% n/a n/a
6.1% −1.9% 48.5% 59.6% n/a n/a 17.3% n/a 4.1% n/a
Returns
6.3% 6.0% 0.3% 0.1% −38.1% −6.7% 4.3% −8.8% −0.7% −16.1%
1.5% 1.6% 0.1% 0.0% −6.3% −1.4% 0.7% −1.2% −0.1% −1.2%
Balance and payout
2.48 2.15 2.48 2.87 4.09 2.94 3.25 3.79 5.03 7.96
65.9% 62.8% 66.8% 70.9% 76.4% 72.1% 65.6% 63.2% 66.2% 71.8%
87.4% 117.7% 2,297.6% 9,005.1% n/a n/a 116.9% n/a n/a n/a
n/a n/a n/a n/a n/a 20.4% n/a 84.8% n/a n/a