Host Hotels & Resorts
HST · NasdaqReal Estate Investment Trusts · Fiscal year ends Dec 31
Host Hotels & Resorts reported revenue of $6.1B in the fiscal year ended Dec 2025, up 7.6% from the year before. Operating income was $855M, an operating margin of 14.0%, and net income was $765M. Net debt was $506M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $2.9B | $4.9B | $5.3B | $5.7B | $6.1B |
| Operating income | −$250M | $775M | $827M | $875M | $855M |
| Interest expense | $191M | $156M | $191M | $215M | $235M |
| Pre-tax income | −$102M | $669M | $788M | $721M | $818M |
| Income tax | −$91M | $26M | $36M | $14M | $42M |
| Net income | −$11M | $633M | $740M | $697M | $765M |
| Diluted EPS | −0.02 | 0.88 | 1.04 | 0.99 | 1.10 |
| Diluted shares | 710M | 718M | 713M | 704M | 694M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $807M | $667M | $1.1B | $554M | $768M |
| Net PP&E | $10B | $9.7B | $9.6B | $10.9B | $10.6B |
| Total assets | $12.4B | $12.3B | $12.2B | $13B | $13B |
| Long-term debt | $436M | $758M | $746M | $896M | $1.3B |
| Total liabilities | $5.8B | $5.4B | $5.4B | $6.3B | $6.3B |
| Shareholders' equity | $6.4B | $6.7B | $6.6B | $6.6B | $6.6B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $292M | $1.4B | $1.4B | $1.5B | $1.5B |
| Depreciation & amortisation | $762M | $664M | $697M | $762M | $795M |
| Stock-based compensation | $18M | $26M | $30M | $24M | $26M |
| Share buybacks | $0 | $27M | $182M | $107M | $205M |
| Dividends paid | $0 | $150M | $547M | $737M | $623M |
| Dividend per share | 0.00 | 0.53 | 0.90 | 0.90 | 0.95 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 69.8% | 8.2% | 7.0% | 7.6% |
| Operating income growth (YoY) | – | – | 6.7% | 5.8% | −2.3% |
| EPS growth (YoY) | – | – | 18.2% | −4.8% | 11.1% |
| Operating margin | −8.7% | 15.8% | 15.6% | 15.4% | 14.0% |
| Net margin | −0.4% | 12.9% | 13.9% | 12.3% | 12.5% |
| Return on equityBlank when equity is negative | −0.2% | 9.4% | 11.2% | 10.5% | 11.7% |
| Cash conversion (CFO ÷ net income) | −26.5x | 2.24x | 1.95x | 2.15x | 1.97x |
| Interest cover | −1.31x | 4.97x | 4.33x | 4.07x | 3.64x |
| Debt ÷ equity | 0.07x | 0.11x | 0.11x | 0.14x | 0.19x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −$371M | $91M | −$398M | $342M | $506M |
Recent filings
More in Real Estate Investment Trusts
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.