Braemar Hotels & Resorts (NYSE: BHR) financial statements
The consolidated income statement, balance sheet and cash flow statement of Braemar Hotels & Resorts for its last 10 fiscal years, as filed with the regulator, in millions of US dollars. At the end of fiscal 2025 it had $1,862m in total assets and $138.7m in equity.
Income statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $704.0m | $728.4m | $739.3m | $669.6m | $427.5m | $227.0m | $487.6m | $431.4m | $414.1m | $405.9m |
| Cost of sales | $492.2m | $501.7m | $501.2m | $445.5m | $287.0m | $190.0m | $323.6m | $272.6m | $271.6m | $262.6m |
| Gross profit | $211.8m | $226.7m | $238.2m | $224.1m | $140.5m | $37.0m | $164.0m | $158.8m | $142.5m | $143.3m |
| Operating profit | $72.4m | $128.8m | $61.7m | $68.4m | $1.4m | −$79.9m | $64.4m | $65.8m | $62.6m | $73.5m |
| Finance costs | $98.5m | $108.1m | $94.2m | $52.2m | $30.9m | $45.1m | $54.5m | $49.7m | $38.9m | $40.9m |
| Profit before tax | −$26.4m | $20.6m | −$27.9m | $23.4m | −$31.6m | −$129.1m | $3.0m | $5.0m | $27.8m | $25.9m |
| Income tax | $2.0m | $0.8m | $2.7m | $4.0m | $1.3m | $4.4m | $1.8m | $2.4m | $0.5m | $1.6m |
| Net profit | −$22.3m | −$1.7m | −$27.0m | $17.8m | −$26.7m | −$105.3m | $0.4m | $1.3m | $23.0m | $19.3m |
| Earnings per share | −$1.07 | −$0.77 | −$1.13 | — | −$0.76 | −$3.39 | — | — | $0.52 | $0.57 |
| Diluted earnings per share | −$1.07 | −$0.77 | −$1.13 | — | −$0.76 | −$3.39 | — | — | $0.51 | $0.55 |
| Depreciation and amortisation | $92.6m | $98.7m | $93.3m | $78.1m | $73.8m | $73.4m | $70.1m | $57.4m | $52.3m | $45.9m |
Balance sheet
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $1,862m | $2,136m | $2,227m | $2,398m | $1,880m | $1,674m | $1,759m | $1,636m | $1,424m | $1,257m |
| Inventories | $4.7m | $4.7m | $5.0m | $5.2m | $3.1m | $2.6m | $2.8m | $1.9m | $1.4m | $1.5m |
| Property, plant and equipment | $1,558m | $1,779m | $1,884m | $1,885m | $1,446m | $1,425m | $1,481m | $1,300m | $1,146m | $1,015m |
| Cash | $124.4m | $135.5m | $85.6m | $261.5m | $216.0m | $78.6m | $72.0m | $182.6m | $137.5m | $126.8m |
| Total liabilities | $1,337m | $1,414m | $1,408m | $1,572m | $1,356m | $1,278m | $1,247m | $1,093m | $894.5m | $828.1m |
| Equity | $138.7m | $240.7m | $307.0m | $410.1m | $398.8m | $276.3m | $369.3m | $397.5m | $381.3m | $308.8m |
| Equity including minorities | $140.8m | $237.4m | $298.0m | $393.8m | $382.3m | $261.2m | $363.3m | $392.1m | $376.6m | $303.4m |
| Minority interests | $2.1m | −$3.4m | −$8.9m | −$16.3m | −$16.5m | −$15.1m | −$6.0m | −$5.4m | −$4.8m | −$5.4m |
Cash flow statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $40.8m | $66.8m | $84.7m | $109.5m | $64.0m | −$50.3m | $66.3m | $70.7m | $70.6m | $58.6m |
| Investing cash flow | $209.6m | $35.5m | −$77.1m | −$402.2m | −$41.7m | −$16.5m | −$226.4m | −$166.8m | −$173.9m | $103.5m |
| Financing cash flow | −$268.6m | −$83.8m | −$156.8m | $345.1m | $128.0m | $49.6m | $32.1m | $169.2m | $124.0m | −$135.6m |
| Capital expenditure | — | — | $0.0m | −$354.4m | −$17.6m | $0.0m | — | — | — | — |
| Dividends paid | −$47.3m | −$51.6m | −$52.6m | −$20.8m | −$9.1m | −$16.2m | −$33.4m | −$30.3m | −$27.1m | −$16.9m |
Where each figure comes from
From the annual report (Form 10-K) that Braemar Hotels & Resorts files with the SEC. The filing for each fiscal year: 2025 · 2024 · 2023 · 2022 · 2021 · 2020 · 2019 · 2018 · 2017 · 2016. If an item is not tagged in the filing, it is not in the table. The summary of the last fiscal year is on the Braemar Hotels & Resorts page.
Information prepared from the accounts the company files with the regulator, for information purposes only. It is not financial advice or a recommendation to buy or sell. Updated on 12 November 2026.