Park Hotels & Resorts (PK) FY2023 results: revenue $2.7 billion, up 7.9% on the year
Park Hotels & Resorts Inc. (PK) reported revenue of $2.7 billion for fiscal 2023, the year ended 31 December 2023, up 7.9% on the year before. Net income was $97 million, down 40.1%, and diluted earnings per share $0.44. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.
Revenue
$2.7 billion
+7.9% on the year
FY2016FY2023
Operating margin
12.7%
11.8% a year earlier
FY2016FY2023
Net income
$97 million
-40.1% on the year
FY2016FY2023
Diluted EPS
$0.44
-38.0% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
503
409
-137
+23.0%
Capital expenditure
285
168
54.0
+69.6%
Free cash flow
218
241
-191
-9.5%
Free cash flow margin
8.1%
9.6%
-14.0%
Cash from investing
-217
87.0
394
Cash from financing
-475
-320
-475
Depreciation and amortisation
287
269
281
+6.7%
Share-based compensation
18.0
17.0
19.0
+5.9%
Buybacks
180
227
0.0
-20.7%
Dividends paid
152
7.0
0.0
+2,071.4%
Dividend per share
$2.15
$0.28
n/a
+667.9%
Diluted shares, weighted
215m
228m
236m
-5.7%
Shares outstanding at period end
210m
224m
236m
-6.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,814
4,339
4,452
-12.1%
Non-controlling interest
-46.0
-48.0
-49.0
Debt
3,786
4,644
4,706
-18.5%
Other liabilities
1,865
796
634
+134.3%
Total liabilities and equity
9,419
9,731
9,743
-3.2%
Fixed assets
7,459
8,301
8,511
-10.1%
Intangible assets
42.0
43.0
44.0
-2.3%
Cash and equivalents
717
906
688
-20.9%
Other assets
1,201
481
500
+149.7%
Total assets
9,419
9,731
9,743
-3.2%
10-K for the year ended 31 December 2023, filed 28 February 2024: the filing.