Host Hotels & Resorts (HST) FY2020 results: revenue $1.6 billion, down 70.4% on the year
Host Hotels & Resorts, Inc. (HST) reported revenue of $1.6 billion for fiscal 2020, the year ended 31 December 2020, down 70.4% on the year before. Net income was -$732 million, and diluted earnings per share $-1.04. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$1.6 billion
-70.4% on the year
FY2013FY2020
Operating margin
-58.8%
14.6% a year earlier
FY2013FY2020
Net income
-$732 million
FY2013FY2020
Diluted EPS
-$1.04
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,620
5,469
5,524
-70.4%
Operating income
-953
799
530
Operating margin
-58.8%
14.6%
9.6%
Interest expense
194
222
176
-12.6%
Pre-tax income
-961
962
1,301
Income tax
-220
30.0
150
Effective tax rate
n/a
3.1%
11.5%
Net income
-732
920
1,087
Net margin
-45.2%
16.8%
19.7%
Diluted EPS
-$1.04
$1.26
$1.47
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-307
1,250
1,300
Capital expenditure
343
336
274
+2.1%
Free cash flow
-650
914
1,026
Free cash flow margin
-40.1%
16.7%
18.6%
Cash from investing
-195
58.0
100
Cash from financing
1,231
-1,315
-748
Depreciation and amortisation
665
676
944
-1.6%
Share-based compensation
17.0
15.0
14.0
+13.3%
Buybacks
147
482
n/a
-69.5%
Dividends paid
320
623
629
-48.6%
Dividend per share
$0.20
$0.85
$0.85
-76.5%
Diluted shares, weighted
706m
731m
741m
-3.4%
Shares outstanding at period end
705m
713m
740m
-1.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
6,321
7,319
7,494
-13.6%
Non-controlling interest
5.0
6.0
72.0
-16.7%
Redeemable equity
108
142
128
-23.9%
Debt
5,541
3,794
3,837
+46.0%
Operating lease liabilities
610
606
n/a
+0.7%
Other liabilities
305
438
559
-30.4%
Total liabilities and equity
12,890
12,305
12,090
+4.8%
Fixed assets
9,416
9,671
9,760
-2.6%
Cash and equivalents
2,335
1,573
1,542
+48.4%
Other assets
1,139
1,061
788
+7.4%
Total assets
12,890
12,305
12,090
+4.8%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.