Braemar Hotels & Resorts (BHR) Financial Statements & Analysis

Braemar Hotels & Resorts (BHR) Income Statement

Braemar Hotels & Resorts reported revenue of $704.01M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 3.3% from $728.40M a year earlier. Braemar Hotels & Resorts posted a net loss of $22.32M, compared with a net loss of $1.69M a year earlier. Gross margin was -1.1% and operating margin 6.1%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $171.03M, down 4.5% from the same quarter a year earlier.

Braemar Hotels & Resorts Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Braemar Hotels & Resorts Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	704.02	728.40	739.34	669.59	427.54	226.97	487.61	431.40	414.06
Cost of Revenue	711.59	574.73	570.88	505.10	344.66	218.46	372.12	312.19	302.07
Gross Profit	-8.01	153.68	168.47	164.49	105.52	8.51	115.49	119.21	112.00
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-
Selling, General & Administrative	11.75	14.36	13.52	18.08	31.36	25.14	5.44	25.81	20.68
Operating Expenses	-51.10	113.09	106.80	96.09	82.48	88.37	51.09	68.10	60.41
Operating Income	43.09	40.59	61.67	68.39	1.45	-79.85	64.40	65.83	38.84
Other Income/Expense
Interest Income	6.25	7.14	6.40	2.68	0.30	0.18	1.09	1.60	0.69
Interest Expense	88.36	108.12	94.22	52.17	30.90	45.10	54.51	49.65	38.94
Other Income/Expense	-69.52	81.01	-89.61	-45.00	-31.90	-49.23	-61.44	-60.81	-34.84
Income
Income Before Tax	-26.43	20.61	-27.94	23.39	-31.59	-129.08	2.96	5.02	27.80
Income Tax Expense	1.98	0.84	2.69	4.04	1.32	-4.41	1.76	2.43	-0.52
Net Income	-22.32	-1.69	-27.02	17.76	-40.00	-105.26	0.37	1.32	23.02
Net Income - Continuous Operations	-22.32	19.76	-27.02	17.76	-32.91	-105.26	0.37	1.32	23.02
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	165.11	227.92	160.03	154.15	73.91	-9.77	128.23	90.54	93.25
EBIT	72.11	128.73	61.42	75.56	0.15	-94.22	-	-	-
Depreciation & Amortization	92.58	98.73	93.75	78.60	73.76	74.21	70.76	389.33	361.49
Earnings Per Share
Basic EPS	-	-1.00	-1.00	-	-1.00	-4.00	-	-	1.00
Diluted EPS	-	-1.00	-1.00	-	-1.00	-4.00	-	-	1.00
Basic Shares Outstanding	67.62	66.50	65.99	69.69	52.68	34.00	32.29	31.94	30.47
Diluted Shares Outstanding	67.62	66.50	65.99	69.69	52.68	34.00	32.29	31.94	34.71

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Braemar Hotels & Resorts Financial Statements

What was Braemar Hotels & Resorts's revenue in fiscal 2025?

Braemar Hotels & Resorts reported revenue of $704.01M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 3.3% from $728.40M a year earlier.

Is Braemar Hotels & Resorts profitable?

No. Braemar Hotels & Resorts reported a net loss of $22.32M in fiscal 2025. In fiscal 2024 it lost $1.69M.

What is Braemar Hotels & Resorts's operating margin?

Braemar Hotels & Resorts's operating income was $43.09M on revenue of $704.01M in fiscal 2025, an operating margin of 6.1%, compared with 5.6% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition