RLJ Lodging Trust (RLJ) financial statements
RLJ Lodging Trust reported revenue of $1.3B in fiscal 2025, up 1.7% a year over 9 years.
Net income was $29M and the operating margin 34.3%, against 19.0% in 2016.
Free cash flow was $117M, and the company returned $91M in dividends and $29M in net buybacks.
The diluted share count rose 21% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from RLJ Lodging Trust's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2B | $1.4B | $1.8B | $1.6B | $473M | $786M | $1.2B | $1.3B | $1.4B | $1.3B |
| Selling, general and admin | $32M | $40M | $49M | $45M | $41M | $48M | $56M | $59M | $55M | $48M |
| Operating income | $220M | $181M | — | $609M | $82M | $274M | $449M | $491M | $491M | $462M |
| Interest expense | $59M | $78M | $102M | $91M | $100M | $106M | $93M | $99M | $111M | $112M |
| Pre-tax income | $210M | $118M | $200M | $126M | -$357M | -$310M | $44M | $78M | $70M | $30M |
| Income tax | $8M | $42M | $9M | -$4M | $52M | $1M | $2M | $1M | $2M | $1M |
| Net income | $200M | $75M | $189M | $128M | -$404M | -$305M | $42M | $76M | $68M | $29M |
| EPS (diluted) | $1.61 | $0.47 | $0.93 | $0.59 | -$2.61 | -$2.01 | $0.10 | $0.32 | $0.27 | $0.01 |
| Diluted shares | 124M | 141M | 174M | 171M | 165M | 164M | 162M | 157M | 153M | 150M |
| Operating margin | 19.0% | 13.4% | — | 38.9% | 17.2% | 34.9% | 37.6% | 37.0% | 35.9% | 34.3% |
| Net margin | 17.3% | 5.5% | 10.7% | 8.2% | -85.5% | -38.8% | 3.5% | 5.8% | 5.0% | 2.1% |
Balance sheet
Fiscal years, from RLJ Lodging Trust's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $457M | $586M | $320M | $882M | $900M | $665M | $481M | $517M | $410M | $410M |
| Total assets | $4.0B | $6.8B | $6.0B | $5.9B | $5.6B | $5.1B | $5.0B | $4.9B | $4.9B | $4.7B |
| Total liabilities | $1.8B | $3.2B | $2.5B | $2.6B | $2.9B | $2.7B | $2.5B | $2.6B | $2.6B | $2.6B |
| Shareholders' equity | $2.2B | $3.5B | $3.4B | $3.2B | $2.7B | $2.4B | $2.4B | $2.3B | $2.3B | $2.2B |
| Net debt | -$457M | -$586M | -$320M | -$882M | -$900M | -$665M | -$481M | -$517M | -$410M | -$410M |
Cash flow
Fiscal years, from RLJ Lodging Trust's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $331M | $261M | $395M | $397M | -$169M | $43M | $257M | $315M | $285M | $244M |
| Capital spending | $283,000 | $219,000 | $279,000 | $157M | $73M | $48M | $124M | $132M | $136M | $126M |
| Free cash flow | $331M | $260M | $395M | $240M | -$242M | -$5M | $132M | $183M | $149M | $117M |
| Stock-based compensation | $6M | $11M | $12M | $11M | $12M | $17M | $22M | $24M | $21M | $15M |
| Dividends paid | $164M | $170M | $231M | $228M | $61M | $7M | $13M | $49M | $70M | $91M |
| Share buybacks (net) | -$13M | -$3M | -$22M | -$78M | -$63M | $0 | -$58M | -$76M | -$22M | -$29M |
| Free cash flow margin | 28.5% | 19.2% | 22.4% | 15.3% | -51.2% | -0.7% | 11.1% | 13.8% | 10.9% | 8.7% |
| Dividends per share | $1.33 | $1.21 | $1.33 | $1.33 | $0.37 | $0.04 | $0.08 | $0.31 | $0.45 | $0.61 |
Questions
What was RLJ Lodging Trust's revenue in 2025?
$1.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does RLJ Lodging Trust generate?
$117M in fiscal 2025 (operating cash flow minus capital spending).
From RLJ Lodging Trust's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.