Braemar Hotels & Resorts Inc. (BHR) Financial Statements
Industry: Real Estate Investment Trusts
In fiscal 2025, Braemar Hotels & Resorts reported revenue of $704.0M, down 3.3% from $728.4M the year before. Net income was -$22.3M (a -3.2% net margin), or -$1.07 per diluted share. Gross margin was -1.5% and operating margin was 10.3%. Operating activities generated $40.8M of cash. At fiscal year end, Braemar Hotels & Resorts held $1.86B in total assets against $1.34B in total liabilities, including $124.4M of cash and equivalents.
Open the full interactive Braemar Hotels & Resorts financials → Quarterly statements, key ratios, valuation history and price charts.
Braemar Hotels & Resorts Key Stats
| Share Price | $1.25 |
|---|---|
| Market Cap | $85.8M |
| Revenue YoY Growth | -3.4% |
| 52-Week Range | $1.21 – $3.14 |
| Shares Outstanding | 68.7 million (basic, 2026 Q2) |
Braemar Hotels & Resorts Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $227.0M | $427.5M | $669.6M | $739.3M | $728.4M | $704.0M |
| Cost of Goods Sold | $317.0M | $426.8M | $601.2M | $677.7M | $687.8M | $714.4M |
| Gross Profit | -$90.0M | $753,000 | $68.4M | $61.7M | $40.6M | -$10.4M |
| Operating Income | -$79.9M | $1.4M | $68.4M | $61.7M | $128.8M | $72.4M |
| Pre-Tax Income | -$129.1M | -$31.6M | $23.4M | -$27.9M | $20.6M | -$26.4M |
| Income Tax | -$4.4M | $1.3M | $4.0M | $2.7M | $842,000 | $2.0M |
| Net Income | -$105.3M | -$26.7M | $17.8M | -$27.0M | -$1.7M | -$22.3M |
| Diluted EPS | -$3.39 | -$0.76 | -$0.15 | -$1.13 | -$0.77 | -$1.07 |
Braemar Hotels & Resorts Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $143.6M | $165.6M | $209.0M | $171.0M |
| Net Income | $5.7M | -$33.6M | $17.7M | $7.0M |
| Diluted EPS | -$0.12 | -$0.50 | $0.07 | -$0.01 |
Braemar Hotels & Resorts Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $78.6M | $216.0M | $261.5M | $85.6M | $135.5M | $124.4M |
| Total Assets | $1.67B | $1.88B | $2.40B | $2.23B | $2.14B | $1.86B |
| Total Long-Term Debt | $1.13B | $1.17B | $1.33B | $1.16B | $1.21B | $1.10B |
| Total Liabilities | $1.28B | $1.36B | $1.57B | $1.41B | $1.41B | $1.34B |
| Shareholders' Equity | $276.3M | $398.8M | $410.1M | $307.0M | $240.7M | $138.7M |
Braemar Hotels & Resorts Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$50.3M | $64.0M | $109.5M | $84.7M | $66.8M | $40.8M |
| Cash From Investing | -$16.5M | -$41.7M | -$402.2M | -$77.1M | $35.5M | $209.6M |
| Cash From Financing | $49.6M | $128.0M | $345.1M | -$156.8M | -$83.8M | -$268.6M |
| Free Cash Flow | — | — | -$245.0M | $84.7M | — | — |
| Dividends Paid | $16.2M | $9.1M | $20.8M | $52.6M | $51.6M | — |
Figures from Braemar Hotels & Resorts' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Braemar Hotels & Resorts financials page for every line item.
Braemar Hotels & Resorts Company Profile
| Ticker | BHR |
|---|---|
| Exchange | NYSE |
| Industry | Real Estate Investment Trusts |
| Headquarters | Dallas, Texas |
| Incorporated in | Maryland |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer, smaller reporting company |
| SEC CIK | 0001574085 |
Frequently Asked Questions
What was Braemar Hotels & Resorts' revenue in fiscal 2025?
Braemar Hotels & Resorts (BHR) reported revenue of $704.0M for fiscal 2025.
What is Braemar Hotels & Resorts' annual revenue history?
Braemar Hotels & Resorts' annual revenue by fiscal year: 2020: $227.0M; 2021: $427.5M; 2022: $669.6M; 2023: $739.3M; 2024: $728.4M; 2025: $704.0M.
What was Braemar Hotels & Resorts' net income in fiscal 2025?
Braemar Hotels & Resorts reported net income of -$22.3M for fiscal 2025.
What was Braemar Hotels & Resorts' earnings per share (EPS) in fiscal 2025?
Braemar Hotels & Resorts' diluted EPS was -$1.07 for fiscal 2025 (adjusted for any later stock splits).
What was Braemar Hotels & Resorts' revenue last quarter?
In its most recent reported quarter (2026 Q2), Braemar Hotels & Resorts reported revenue of $171.0M.
How much debt does Braemar Hotels & Resorts have?
Braemar Hotels & Resorts reported $1.10B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Braemar Hotels & Resorts are outstanding?
Braemar Hotels & Resorts reported a weighted average of 68.7 million basic shares outstanding in 2026 Q2.
What is Braemar Hotels & Resorts' market cap?
Based on its latest closing price, Braemar Hotels & Resorts (BHR) has a market capitalization of about $85.8M.
When does Braemar Hotels & Resorts' fiscal year end?
Braemar Hotels & Resorts' fiscal year end, as registered with the SEC, is December 31.
Where is Braemar Hotels & Resorts headquartered?
Braemar Hotels & Resorts lists its business address in Dallas, Texas in its SEC filings.