BHR · XBRL financial data
Braemar Hotels & Resorts financial statements, every fiscal year
The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.
How these numbers work
- Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
- Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
- * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
- 0 means a filing states zero; a dash (—) means no filing states that number.
- “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
- Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
- Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
- Shares outstanding come from each filing's cover page, as of the date printed there.
- Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.
Income statement
CSVFiscal years (BHR's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Revenue from contracts with customers | 227 | 428 | 670 | 739 | 728 | 704 |
| General and administrative | 7 | 9 | 18 | 14 | 14 | 12 |
| Operating income (loss) | (80) | 1 | 68 | 62 | 129 | 72 |
| Interest income | 0 | 0 | 3 | 6 | 7 | 6 |
| Interest expense | 45 | 31 | 52 | 94 | 108 | 99 |
| Income tax expense (benefit) | (4) | 1 | 4 | 3 | 1 | 2 |
| Net income (loss) | (105) | (27) | 18 | (27) | (2) | (22) |
| Earnings per share, basic USD per share | (3.39) | (0.76) | (0.15) | (1.13) | (0.77) | (1.07) |
| Earnings per share, diluted USD per share | (3.39) | (0.76) | (0.15) | (1.13) | (0.77) | (1.07) |
| Weighted average shares, basic millions of shares | 34 | 53 | 70 | 66 | 67 | 68 |
| Weighted average shares, diluted millions of shares | 34 | 53 | 70 | 66 | 67 | 68 |
Balance sheet
CSVFiscal years (BHR's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 79 | 216 | 262 | 86 | 135 | 124 |
| Inventory | 3 | 3 | 5 | 5 | 5 | 5 |
| Property and equipment, net | 1,425 | 1,446 | 1,885 | 1,884 | 1,779 | 1,558 |
| Right-of-use asset | 81 | 80 | 79 | 78 | 35 | 31 |
| Total assets | 1,674 | 1,880 | 2,398 | 2,227 | 2,136 | 1,862 |
| Total liabilities | 1,278 | 1,356 | 1,572 | 1,408 | 1,414 | 1,337 |
| Accumulated deficit | (266) | (309) | (325) | (412) | (478) | (569) |
| Total stockholders' equity | 276 | 399 | 410 | 307 | 241 | 139 |
| Total liabilities and equity | 1,674 | 1,880 | 2,398 | 2,227 | 2,136 | 1,862 |
| Common shares outstanding (cover page) millions of shares | 40 | 65 | 66 | 67 | 67 | 69 |
Cash flows
CSVFiscal years (BHR's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Net income (loss) | (105) | (27) | 18 | (27) | (2) | (22) |
| Stock-based compensation | 8 | 10 | 11 | 9 | 3 | (0) |
| Net cash from operating activities | (50) | 64 | 109 | 85 | 67 | 41 |
| Net cash from investing activities | (17) | (42) | (402) | (77) | 36 | 210 |
| Proceeds from issuing common stock | 13 | 102 | 0 | 0 | — | — |
| Share repurchases | 0 | 0 | 7 | 19 | 0 | 1 |
| Dividends paid | 16 | 9 | 21 | 53 | 52 | 47 |
| Proceeds from long-term debt | 109 | 83 | 171 | 371 | 234 | 403 |
| Net cash from financing activities | 50 | 128 | 345 | (157) | (84) | (269) |
| Net change in cash | (17) | 150 | 52 | (149) | 19 | (18) |
Compare with peers
SIC 6798 and related industry codes, similar size. Each row is the latest quarter reported.
How peers are chosen
- SIC 6798 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
- Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
- Runway shows only for companies burning cash with under $10B of public float.
- * marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
- A cell reading “not reported” means the filings give no figure for that quarter alone.
| Company | Cash ($M) | Revenue, quarter ($M) | Operating cash flow, quarter ($M) | Shares outstanding | Runway | Quarter |
|---|---|---|---|---|---|---|
| Braemar Hotels & Resorts | 94 | 171 | 21* | 68.7M | — | 10-QJun 30, 2026 |
| Franklin Street Properties | 34 | 25 | 6.8* | 104.0M | — | 10-QSep 30, 2026 |
| BRT Apartments | 23 | 24 | 6.3* | 18.8M | — | 10-QJun 30, 2026 |
| Nexpoint Diversified Real Estate Trust | 12 | 19 | (4.6)* | 53.1M | 2.5 quarters | 10-QJun 30, 2026 |
| Seven Hills Realty Trust | 51 | 8.3 | 5.7* | 22.8M | — | 10-QSep 30, 2026 |
| JOINT | 22 | not reported | 2.2* | 14.1M | — | 10-QJun 30, 2026 |
| Modiv Industrial | 22 | 12 | 3.5* | 10.3M | — | 10-QJun 30, 2026 |
| Ares Real Estate Income Trust | 41 | 151 | 189* | not reported | — | 10-QJun 30, 2026 |
| Strawberry Fields REIT | 42 | 40 | 24* | 14.2M | — | 10-QJun 30, 2026 |
Not investment advice. Not affiliated with the U.S. SEC.