NASDAQ: HST
Host Hotels & Resorts
Real Estate · Real Estate Investment Trusts
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$16.2B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $13.9B |
| FY2017, ended Dec 31, 2017 | $14.7B |
| FY2018, ended Dec 31, 2018 | $12.3B |
| FY2019, ended Dec 31, 2019 | $13.1B |
| FY2020, ended Dec 31, 2020 | $10.3B |
| FY2021, ended Dec 31, 2021 | $12.4B |
| FY2022, ended Dec 31, 2022 | $11.5B |
| FY2023, ended Dec 31, 2023 | $13.7B |
| FY2024, ended Dec 31, 2024 | $12.2B |
| FY2025, ended Dec 31, 2025 | $12.2B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $16.2B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$6.22B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $5.43B |
| FY2017, ended Dec 31, 2017 | $5.39B |
| FY2018, ended Dec 31, 2018 | $5.52B |
| FY2019, ended Dec 31, 2019 | $5.47B |
| FY2020, ended Dec 31, 2020 | $1.62B |
| FY2021, ended Dec 31, 2021 | $2.89B |
| FY2022, ended Dec 31, 2022 | $4.91B |
| FY2023, ended Dec 31, 2023 | $5.31B |
| FY2024, ended Dec 31, 2024 | $5.68B |
| FY2025, ended Dec 31, 2025 | $6.11B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $6.22B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $762M | $1.01B |
| FY2017, ended Dec 31, 2017 | $564M | $1.02B |
| FY2018, ended Dec 31, 2018 | $1.09B | $1.03B |
| FY2019, ended Dec 31, 2019 | $920M | $914M |
| FY2020, ended Dec 31, 2020 | −$732M | −$650M |
| FY2021, ended Dec 31, 2021 | −$11.0M | −$1.00M |
| FY2022, ended Dec 31, 2022 | $633M | $1.11B |
| FY2023, ended Dec 31, 2023 | $740M | $1.25B |
| FY2024, ended Dec 31, 2024 | $697M | $1.24B |
| FY2025, ended Dec 31, 2025 | $765M | $1.23B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $1.03B | $1.33B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$1.95B
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $372M |
| FY2017, ended Dec 31, 2017 | $913M |
| FY2018, ended Dec 31, 2018 | $1.54B |
| FY2019, ended Dec 31, 2019 | $1.57B |
| FY2020, ended Dec 31, 2020 | $2.33B |
| FY2021, ended Dec 31, 2021 | $807M |
| FY2022, ended Dec 31, 2022 | $667M |
| FY2023, ended Dec 31, 2023 | $1.14B |
| FY2024, ended Dec 31, 2024 | $554M |
| FY2025, ended Dec 31, 2025 | $768M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $1.95B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.—
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $1.22B |
| FY2017, ended Dec 31, 2017 | $1.50B |
| FY2018, ended Dec 31, 2018 | $455M |
| FY2019, ended Dec 31, 2019 | $445M |
| FY2020, ended Dec 31, 2020 | $442M |
| FY2021, ended Dec 31, 2021 | $436M |
| FY2022, ended Dec 31, 2022 | $758M |
| FY2023, ended Dec 31, 2023 | $746M |
| FY2024, ended Dec 31, 2024 | $896M |
| FY2025, ended Dec 31, 2025 | $1.27B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | — |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 7.3% since 2016.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.685M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 739M |
| FY2017, ended Dec 31, 2017 | 742M |
| FY2018, ended Dec 31, 2018 | 740M |
| FY2019, ended Dec 31, 2019 | 706M |
| FY2020, ended Dec 31, 2020 | 705M |
| FY2021, ended Dec 31, 2021 | 714M |
| FY2022, ended Dec 31, 2022 | 713M |
| FY2023, ended Dec 31, 2023 | 704M |
| FY2024, ended Dec 31, 2024 | 699M |
| FY2025, ended Dec 31, 2025 | 688M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 685M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Net: $48.0M more bought back than issued
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| Period | Bought back | Paid to employees | Sold for cash |
|---|---|---|---|
| FY2016, ended Dec 31, 2016 | $218M | $12.0M | $4.00M |
| FY2017, ended Dec 31, 2017 | — | $11.0M | — |
| FY2018, ended Dec 31, 2018 | — | $14.0M | — |
| FY2019, ended Dec 31, 2019 | $482M | $15.0M | $0 |
| FY2020, ended Dec 31, 2020 | $147M | $17.0M | $0 |
| FY2021, ended Dec 31, 2021 | $0 | $18.0M | $138M |
| FY2022, ended Dec 31, 2022 | $27.0M | $26.0M | $1.00M |
| FY2023, ended Dec 31, 2023 | $182M | $30.0M | $1.00M |
| FY2024, ended Dec 31, 2024 | $107M | $24.0M | — |
| FY2025, ended Dec 31, 2025 | $205M | $26.0M | — |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $75.0M | $27.0M | — |
Revenue (TTM)
$6.22B
+4.9% YoY
Net income (TTM)
$1.03B
+55.8% YoY
Cash
$1.95B
+299% YoY
Total debt
—
—
Valuation
At current price- Market Cap
- $17.3B
- P/E
- 16.9×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 2.8×
- Price / Book
- 2.7×
- EV / EBITDA
- —. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $6.22B
- Revenue Growth YoY
- 4.9%
- Revenue CAGR 3Y
- 7.6%
- Revenue CAGR 5Y
- 30.4%
- EPS Growth YoY
- 58.5%
- Net Income Growth YoY
- 55.8%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 14.6%
- Net Margin
- 16.5%
- FCF Margin
- 21.4%
- Return on Equity
- 15.8%
Earnings
Trailing 12 months- Net Income
- $1.03B
- EPS (diluted)
- $1.49
- EBITDA
- $1.69B
- Operating Income
- $905M
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $1.95B
- Total Debt
- —. Short- and long-term borrowings, excluding leases
- Net Cash
- —. Cash − total debt
- Total Assets
- $13.3B
- Total Liabilities
- $6.63B
- Shareholders' Equity
- $6.39B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.61B
- Capital Expenditure
- $276M
- Free Cash Flow
- $1.33B
Dividends and risk
Last 12 months- Dividend Yield
- 6.6%
- Dividend / Share
- $1.67
- Beta (5Y)
- 1.09
Every ratio is calculated from the company’s reported figures.
Note
Revenue is roughly flat year over year at $6.22B.
Note
Net margin of 16.5% over the last 12 months.
Strength
Turns 21.4% of revenue into free cash flow.
Note
Pays a 6.6% dividend yield.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 31, 2025 · filed Feb 25, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K51Some concerns
10-K for the fiscal year ended Dec 31, 2024
Filed Feb 26, 2025 · Read the filing on EDGAR
- Revenue rose 7.0% to $5.68 billion, mostly from acquisitions and a reopened hotel, but net income fell 6.0% to $707 million on smaller asset sale gains.
- Host spent about $1.5 billion on hotel acquisitions and investments in 2024, funded partly by $1.3 billion of new senior notes, lifting total debt to $5.1 billion.
- Room revenue per available room at comparable hotels rose only 0.9%, held back by Maui's slow recovery and weakness in San Francisco and Atlanta.
- For 2025, Host expects 0.5% to 2.5% growth in room revenue per available room, with lower margins from wages, insurance and property taxes.
Business momentum
Mixed
“Net income for Host Inc. was $707 million, a decrease of $45 million, or 6.0%, from the prior year”
Outlook
Cautious
“In addition, we expect margins to decline in comparison to 2024, driven by higher wages and benefits, including increases driven by new union contracts in certain cities, as well as growth in insurance and real estate taxes.”
Financial stress
Low
“Based on our cash balance at December 31, 2024 and our expected cash obligations, we believe we will have sufficient liquidity to meet our near-term obligations.”
Tone against the previous report
More negative
Red flags
None found in this report.
Positives
Revenue grew 7.0%, helped by four hotels acquired in 2024 and a full year from The Ritz-Carlton, Naples
“Total revenues increased $373 million, or 7.0%, compared to 2023, benefiting from the 2024 acquisitions”
Group bookings stayed strong going into 2025
“Throughout 2024, group business at our properties continued to improve and group revenue on the books remains strong for 2025.”
Large liquidity cushion, including an undrawn $1.5 billion credit line
“As of December 31, 2024, we had $554 million of cash and cash equivalents, $242 million in our FF&E escrow reserve and $1.5 billion available under the revolver portion of our credit facility.”
Concerns
Maui's slow wildfire recovery continues to drag on results and is expected to persist into 2025
“In 2024, performance at our Maui hotels impacted comparable hotel RevPAR by approximately 160 basis points for the full year.”
Wage costs are expected to keep rising faster than guided room revenue growth
“Wage and benefit rate inflation is expected to be approximately 6% in 2025.”
Underlying growth at existing hotels was weak, with flat occupancy
“Comparable hotel RevPAR increased 0.9%, compared to 2023, due to an increase in average room rates, as occupancy remained flat”
New risks since the previous report
Hurricanes Helene and Milton closed The Don CeSar, with repairs of $100–$110 million and uncertain timing of insurance payments
“We estimate the total property reconstruction and remediation costs from the storms, including resiliency enhancements, for The Don CeSar to be approximately $100 million to $110 million of which approximately 25-30% relates to remediation costs.”
New administration's trade, tax and spending changes add economic uncertainty
“In addition, the new administration has brought heightened uncertainty due to anticipated changes to trade policy, tax policy and government spending.”
2025 union contract talks in Honolulu, Maui and Washington, D.C. could cause disruption and higher costs
“In 2025, our operators will negotiate collective bargaining agreements at hotels in Honolulu, Maui, and Washington, D.C.”
AI-powered search could compete with hotels for bookings and push them toward costlier channels
“Search engines (including generative AI search) and peer-to-peer inventory sources also provide online travel services that compete with our hotels.”
Biggest risks named
- Economic slowdown, inflation and policy uncertainty reducing hotel demand
- Natural disasters and climate effects exceeding insurance coverage
- Rising wages, insurance and property taxes squeezing margins
- Union contract talks in 2025 in Hawaii, Washington, D.C. and other cities
- Heavy dependence on Marriott, which manages about 64% of hotels by revenue
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −3 | |
| Outlook | −2 | |
| Tone against the previous report | −2 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −2 | |
| Score | 51 | |
Written by AI (Claude Opus 5.5) from the report’s text. 13 of 13 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Feb 25, 2026 | Pro | |||
| 10-K | Feb 26, 2025 | 51 | Mixed | None | |
| 10-K | Feb 28, 2024 | 62 | Improving | None | |
| 10-K | Feb 22, 2023 | 69 | Strong improvement | 1 minor | |
| 10-K | Feb 24, 2022 | 69 | Strong improvement | 1 minor | |
| 10-K | Feb 25, 2021 | 20 | Sharp deterioration | 2 medium | |
| 10-K | Feb 25, 2020 | 52 | Mixed | None | |
| 10-K | Feb 26, 2019 | 48 | Mixed | 2 medium | |
| 10-K | Feb 27, 2018 | 49 | Weakening | 1 minor | |
| 10-K | Feb 24, 2017 | 62 | Improving | None |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q2 FY2026 (period ended Jun 30, 2026), filed Aug 7, 2026. View filings on SEC EDGAR