Apple Hospitality REIT, Inc. (APLE) intrinsic value & 10-year financials
Apple Hospitality REIT, Inc. (APLE) has a Graham intrinsic value of $15.64 per share. At $17.05 on Oct 17, 2026, the stock trades 9% above that value. Over the last 10 fiscal years revenue grew 3.5% a year to $1.4B, with an average return on invested capital of 4.0%.
- Graham intrinsic value
- $15.64
- Share price (Oct 17, 2026)
- $17.05
- Price vs Graham value
- 9% above
- Market cap
- $4.1B
- Revenue (FY2025)
- $1.4B
- Revenue growth (10-yr CAGR)
- 3.5%
- ROIC (10-yr avg)
- 4.0%
- Free cash flow (FY2025)
- $282.0M
APLE 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.4B | $175.4M | $0.74 | $282.0M | 18.3% | 5.5% |
| FY2024 | $1.4B | $214.1M | $0.89 | $327.1M | 20.5% | 6.2% |
| FY2023 | $1.3B | $177.5M | $0.77 | $322.2M | 18.4% | 5.3% |
| FY2022 | $1.2B | $144.8M | $0.63 | — | 16.7% | 4.5% |
| FY2021 | $933.9M | $18.8M | $0.08 | — | 9.3% | 1.9% |
| FY2020 | $601.9M | -$173.2M | -$0.77 | — | -17.0% | -2.2% |
| FY2019 | $1.3B | $171.9M | — | — | 18.5% | 4.9% |
| FY2018 | $1.3B | $206.1M | — | — | 20.3% | 5.3% |
| FY2017 | $1.2B | $182.5M | — | — | 17.3% | 4.4% |
| FY2016 | $1.0B | $144.7M | — | — | 17.8% | 3.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Apple Hospitality REIT, Inc. has demonstrated mature, steady growth, with revenue compounding at 3.4% annually over the past decade.
Apple Hospitality REIT, Inc. has historically struggled to out-earn its cost of capital, averaging just 4.0% ROIC.
Apple Hospitality REIT, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Apple Hospitality REIT, Inc. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $15.64 per share.