Park Hotels & Resorts Inc.

Consumer Discretionary
Hotels/Resorts
www.pkhotelsandresorts.com

Earnings Score
Moat Score
Safety Score

Market Cap $3.22B
PE 10
Debt $3.88B
Cash $518.00M
EV $6.59B
FCF $221.00M

Earnings

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Sales & Net Margins

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Earnings	$330.00M
EBIT	$584.00M
ROE	9%
ROA	6%
FCF	$221.00M
Equity	$3.75B
Growth Stability	-127%
PE	9.77
PEG	-7.05
PB	0.86
P/FCF	14.59
P/S	1.23
Price/Cash	0.16
Debt/Equity	1.03
Debt/FCF	17.56
Net Margins	7%
Op. Margins	22%
Earnings CAGR	-7%
Sales Growth YoY	-4%
Sales Growth QoQ	-5%
Sales CAGR	-3%
FCF CAGR	-3%
Equity CAGR	-1%
Earnings Stability	0.04
Earnings Growth YoY	96%
Earnings Growth QoQ	-17%

Earnings CAGR 5Y	-1%
Sales CAGR 5Y	17%
FCF CAGR 5Y	-1%
Equity CAGR 5Y	-9%
Earnings CAGR 3Y	22%
Sales CAGR 3Y	22%
FCF CAGR 3Y	10%
Equity CAGR 3Y	-7%
Market Cap	$3.22B
Revenue	$2.63B
Dividend Yield	15%
Payout Ratio	149%
Assets	$9.17B
Total Debt	$3.88B
Cash	$518.00M
Shares Outstanding	206M
EV	6.59B
Earnings Score	6%
Moat Score	83%
Safety Score	41%
Final Score	43%
Shares Growth 3y	-5%
Equity Growth QoQ	-1%
Equity Growth YoY	-6%

Assets & ROA

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Stockholders Equity & ROE

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Park Hotels & Resorts owns upper-upscale and luxury hotels with 27,889 rooms across 48 hotels in the United States. Park also has interests through joint ventures in another 4,297 rooms in seven U.S. hotels. Park was spun out of narrow-moat Hilton Worldwide Holdings at the start of 2017, so most of the company's hotels are still under Hilton brands. The company has sold all its international hotels and 15 lower-quality U.S. hotels to focus on high-quality assets in domestic, gateway markets.

SEC Filings

Direct access to Park Hotels & Resorts Inc. (PK) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Park Hotels & Resorts Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Park Hotels & Resorts Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -7%

Stability 4%

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Park Hotels & Resorts Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Park Hotels & Resorts Inc..

Years

Calculation mode

= $1.8B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$221M	$215M	$209M	$203M	$197M	$191M	$186M	$181M	$176M	$171M	$166M	$1.7B
DCF		$195M	$172M	$152M	$135M	$119M	$105M	$93M	$82M	$72M	$64M	$639M
Value	$1.8B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	11%	5%	94%	17%	11%	-169%	-34%	6%	4%	7%
ROA	-	4%	4%	5%	4%	-11%	-2%	3%	4%	6%
ROE	-	3%	44%	8%	5%	-30%	-10%	4%	2%	9%

Net Margins (7.35%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	6.35	11.55	15	-9.84	-24.64	19.27	17.37	17.56
Debt over Equity	0.02	-	0.49	0.53	0.6	1.05	1.06	1.07	0.99	1.03
Growth Stability	-	-	-	46%	28%	-127%	-	-	-	-127%

Bad Debt/FCF ratio (17.56)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Neutral Debt/Equity ratio (1.03)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (-127%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	1%	2%	-2%	4%	-70%	60%	84%	8%	17%
Earnings YoY growth	-	-54%	2K%	-82%	-35%	-572%	-68%	-135%	-41%	-1%
Equity YoY growth	-	38%	55%	-6%	15%	-25%	-9%	-3%	-12%	-9%
FCF YoY growth	-	-41%	172%	-45%	1%	-302%	-64%	-226%	-10%	-1%