Sunstone Hotel Investors (SHO) financial statements
Sunstone Hotel Investors reported revenue of $960M in fiscal 2025, down 2.4% a year over 9 years.
Net income was $25M.
Free cash flow was $79M, and the company returned $86M in dividends and $103M in net buybacks.
The diluted share count fell 10% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Sunstone Hotel Investors's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2B | $1.2B | $1.2B | $1.1B | $268M | $509M | $912M | $986M | $906M | $960M |
| Selling, general and admin | $52M | $56M | $56M | $55M | $34M | $49M | $50M | $47M | $46M | $49M |
| Operating income | $189M | $186M | $299M | — | — | — | — | — | — | — |
| Interest expense | $50M | $52M | $48M | $54M | $53M | $31M | $32M | $52M | $50M | $53M |
| Pre-tax income | $140M | $138M | $261M | $143M | -$404M | $33M | $91M | $211M | $42M | $25M |
| Income tax | -$616,000 | -$8M | $2M | -$151,000 | $7M | $109,000 | $359,000 | $5M | -$1M | $216,000 |
| Net income | $141M | $153M | $259M | $143M | -$411M | $33M | $91M | $207M | $43M | $25M |
| EPS (diluted) | $0.55 | $0.59 | $1.05 | $0.54 | -$1.93 | $0.06 | $0.34 | $0.93 | $0.14 | $0.04 |
| Diluted shares | 215M | 222M | 226M | 226M | 216M | 216M | 213M | 206M | 203M | 194M |
| Operating margin | 15.9% | 15.6% | 25.8% | — | — | — | — | — | — | — |
| Net margin | 11.8% | 12.8% | 22.4% | 12.8% | -153.2% | 6.5% | 10.0% | 21.0% | 4.8% | 2.6% |
Balance sheet
Fiscal years, from Sunstone Hotel Investors's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $370M | $488M | $809M | $817M | $368M | $120M | $101M | $426M | $107M | $109M |
| Receivables | $39M | $34M | $34M | $35M | $9M | $29M | $42M | — | — | — |
| Inventory | $1M | $1M | $1M | — | — | — | — | — | — | — |
| Total current assets | $568M | $728M | $908M | $914M | $435M | $282M | $214M | — | — | — |
| Property, plant and equipment | $779,000 | $584,000 | $8M | $8M | $7M | $6M | $4M | $3M | $2M | $2M |
| Goodwill | $990,000 | $990,000 | $990,000 | — | — | — | — | — | — | — |
| Total assets | $3.7B | $3.9B | $4.0B | $3.9B | $3.0B | $3.0B | $3.1B | $3.1B | $3.1B | $3.0B |
| Total current liabilities | $409M | $243M | $233M | $326M | $91M | $176M | $381M | — | — | — |
| Long-term debt | $746M | $977M | $971M | $889M | $743M | $589M | $591M | — | — | — |
| Total liabilities | $1.2B | $1.3B | $1.3B | $1.3B | $896M | $801M | $998M | $983M | $1.0B | $1.1B |
| Shareholders' equity | $2.5B | $2.5B | $2.7B | $2.6B | $2.0B | $2.2B | $2.1B | $2.2B | $2.1B | $1.9B |
| Net debt | $562M | $495M | $168M | $154M | $376M | $489M | $711M | -$426M | -$107M | -$109M |
Cash flow
Fiscal years, from Sunstone Hotel Investors's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $288M | $307M | $305M | $291M | -$117M | $28M | $209M | $198M | $170M | $182M |
| Capital spending | $182M | $115M | $159M | $96M | $51M | $64M | $129M | $110M | $157M | $103M |
| Free cash flow | $106M | $192M | $146M | $195M | -$168M | -$35M | $81M | $88M | $13M | $79M |
| Stock-based compensation | $7M | $8M | $9M | $9M | $10M | $13M | $11M | $11M | $10M | $9M |
| Dividends paid | — | $163M | $178M | $170M | $156M | $14M | $25M | $60M | $91M | $86M |
| Share buybacks (net) | — | — | — | -$50M | -$104M | — | -$108M | -$56M | -$27M | -$103M |
| Net borrowing | -$166M | $54M | -$8M | -$8M | -$150M | -$80M | $205M | $3M | $26M | $85M |
| Free cash flow margin | 8.9% | 16.1% | 12.6% | 17.5% | -62.8% | -6.9% | 8.9% | 8.9% | 1.4% | 8.2% |
| Dividends per share | — | $0.73 | $0.79 | $0.75 | $0.72 | $0.06 | $0.12 | $0.29 | $0.45 | $0.44 |
Questions
What was Sunstone Hotel Investors's revenue in 2025?
$960M in fiscal 2025, from its 10-K filing.
How much free cash flow does Sunstone Hotel Investors generate?
$79M in fiscal 2025 (operating cash flow minus capital spending).
From Sunstone Hotel Investors's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.