Host Hotels & RESORTS, Inc. (HST) intrinsic value & 10-year financials
Host Hotels & RESORTS, Inc. (HST) has a Graham intrinsic value of $23.25 per share. At $23.97 on Oct 17, 2026, the stock trades 3% above that value. Over the last 10 fiscal years revenue grew 1.3% a year to $6.1B, with an average return on invested capital of 4.7%.
- Graham intrinsic value
- $23.25
- Share price (Oct 17, 2026)
- $23.97
- Price vs Graham value
- 3% above
- Market cap
- $16.6B
- Revenue (FY2025)
- $6.1B
- Revenue growth (10-yr CAGR)
- 1.3%
- ROIC (10-yr avg)
- 4.7%
- Free cash flow (FY2025)
- $1.1B
HST 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $6.1B | $765.0M | $1.10 | $1.1B | 14.0% | 7.4% |
| FY2024 | $5.7B | $697.0M | $0.99 | $1.2B | 15.4% | 8.2% |
| FY2023 | $5.3B | $740.0M | $1.04 | $990.0M | 15.6% | 7.9% |
| FY2022 | $4.9B | $633.0M | $0.00 | $1.2B | 15.8% | 7.2% |
| FY2021 | $2.9B | -$11.0M | -$0.00 | $158.0M | -8.7% | -1.2% |
| FY2020 | $1.6B | -$732.0M | -$0.00 | -$463.0M | -58.8% | -7.7% |
| FY2019 | $5.5B | $920.0M | $0.00 | $1.0B | 14.6% | 8.0% |
| FY2018 | $5.5B | $1.1B | $0.00 | $1.0B | 9.6% | 4.7% |
| FY2017 | $5.4B | $564.0M | $0.00 | $1.0B | 12.5% | 5.8% |
| FY2016 | $5.4B | $762.0M | $0.00 | $1.0B | 12.6% | 6.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Host Hotels & Resorts has demonstrated mature, steady growth, with revenue compounding at 1.3% annually over the past decade.
Host Hotels & Resorts has historically struggled to out-earn its cost of capital, averaging just 4.7% ROIC.
Over the decade, Host Hotels & Resorts shows that management has aggressively returned capital to shareholders by retiring 100.0% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Host Hotels & Resorts is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $23.25 per share.