Park Hotels & Resorts (PK) FY2021 results: revenue $1.4 billion, up 59.9% on the year
Park Hotels & Resorts Inc. (PK) reported revenue of $1.4 billion for fiscal 2021, the year ended 31 December 2021, up 59.9% on the year before. Net income was -$459 million, and diluted earnings per share $-1.95. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2022.
Revenue
$1.4 billion
+59.9% on the year
FY2015FY2021
Operating margin
-13.1%
-141.1% a year earlier
FY2015FY2021
Net income
-$459 million
FY2015FY2021
Diluted EPS
-$1.95
FY2015FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
-137
-438
499
Capital expenditure
54.0
86.0
240
-37.2%
Free cash flow
-191
-524
259
Free cash flow margin
-14.0%
-61.5%
9.1%
Cash from investing
394
119
-635
+231.1%
Cash from financing
-475
914
97.0
Depreciation and amortisation
281
298
264
-5.7%
Share-based compensation
19.0
20.0
16.0
-5.0%
Buybacks
0.0
66.0
0.0
Dividends paid
0.0
241
494
Dividend per share
n/a
$0.45
$1.90
Diluted shares, weighted
236m
236m
213m
0.0%
Shares outstanding at period end
236m
236m
239m
+0.2%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
4,452
4,893
6,496
-9.0%
Non-controlling interest
-49.0
-50.0
-45.0
Debt
4,706
5,156
3,886
-8.7%
Other liabilities
634
588
953
+7.8%
Total liabilities and equity
9,743
10,587
11,290
-8.0%
Fixed assets
8,511
9,193
9,594
-7.4%
Goodwill
n/a
n/a
607
Intangible assets
44.0
45.0
46.0
-2.2%
Cash and equivalents
688
951
346
-27.7%
Other assets
500
398
697
+25.6%
Total assets
9,743
10,587
11,290
-8.0%
10-K for the year ended 31 December 2021, filed 18 February 2022: the filing.