Forensic Analysis · Hotels & Casinos · as of Nov 10, 2026

Park Hotels & Resorts Inc. (PK)

A forensic read on Park Hotels & Resorts Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective

Forensic grade

Clean

Earnings quality

Forensic signals

-8.4%

ROE

-2.2%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Park Hotels & Resorts Inc. earns a C (Mixed — selective) forensic quality grade. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

-0.4%

FY2025

Return on invested capital. Return on invested capital is -0.4% in the latest fiscal year and slipping across FY2023–FY2025 from 3.7%. After-tax operating profit was $252M in FY2023 and ($26M) in FY2025, with operating income at 12.7% of revenue in FY2023, 15.0% in FY2024 and -1.3% in FY2025. The capital base behind it went from $6.9B in FY2023 to $6.9B in FY2025 (+1%), while the revenue it carried went from $2.7B to $2.5B.

319% of FCF

FY2025

Shareholder returns. Returned $325M to shareholders (buybacks + dividends) in FY2025 — 319% of free cash flow, but 82% of operating cash flow. Returns run ahead of free cash flow because the business is also funding heavy growth capex (usually debt-financed); the payout itself is covered by operating cash — sustainable as long as that spending is genuine expansion, not upkeep. Counting the $19M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 337%.

-43%

FY2024→FY2025

Dividend — cut. The payout was CUT ~43% in FY2025 (from FY2024). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.

Key fundamentals

Latest Revenue$2.54B

Revenue Growth YoY-2.2%

Revenue CAGR (2yr)-3.0%

Net Margin-11.1%

Free Cash Flow$102.0M

Return on Equity-8.4%

Debt / Equity1.23x

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Data from SEC EDGAR public filings · metrics as of Nov 10, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.