Braemar Hotels & Resorts Inc. (BHR) intrinsic value & 10-year financials
Braemar Hotels & Resorts Inc. (BHR) has a Graham intrinsic value of $9.29 per share. At $1.43 on Oct 17, 2026, the stock trades 85% below that value. Over the last 10 fiscal years revenue grew 6.3% a year to $704.0M, with an average return on invested capital of 3.2%.
- Graham intrinsic value
- $9.29
- Share price (Oct 17, 2026)
- $1.43
- Price vs Graham value
- 85% below
- Market cap
- $96.7M
- Revenue (FY2025)
- $704.0M
- Revenue growth (10-yr CAGR)
- 6.3%
- ROIC (10-yr avg)
- 3.2%
- Free cash flow (FY2025)
- —
BHR 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $704.0M | -$22.3M | -$1.07 | — | 10.3% | 5.9% |
| FY2024 | $728.4M | -$1.7M | -$0.77 | — | 17.7% | 9.5% |
| FY2023 | $739.3M | -$27.0M | -$1.13 | — | 8.3% | 4.3% |
| FY2022 | $669.6M | $17.8M | -$0.15 | -$245.0M | 10.2% | 3.9% |
| FY2021 | $427.5M | -$26.7M | -$0.76 | $46.3M | 0.3% | 0.1% |
| FY2020 | $227.0M | -$105.3M | -$3.39 | — | -35.2% | -5.7% |
| FY2019 | $487.6M | $371.0K | -$0.32 | — | 13.2% | 2.5% |
| FY2018 | $431.4M | $1.3M | -$0.19 | — | 15.3% | 2.9% |
| FY2017 | $414.1M | $23.0M | $0.51 | — | 9.4% | 3.9% |
| FY2016 | $405.9M | $19.3M | $0.55 | — | 11.6% | 4.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Braemar Hotels & Resorts Inc. has demonstrated mature, steady growth, with revenue compounding at 6.3% annually over the past decade.
Braemar Hotels & Resorts Inc. has historically struggled to out-earn its cost of capital, averaging just 3.2% ROIC.
Over the decade, Braemar Hotels & Resorts Inc. shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Braemar Hotels & Resorts Inc. is modeled at 6.3% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $9.29 per share.