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Sunstone Hotel Investors (SHO)
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Sunstone Hotel Investors Balance Sheet 2025-2008 | SHO
Brief overview of Sunstone Hotel Investors's financial position
The review uses the five latest available annual reports between 2020 and 2024.
Assets changed little, standing at $3 billion initially and $3.1 billion at the end. The balance sheet stayed close to its former scale.
The growth rates were balanced: assets changed +4.1%, while liabilities changed +11.9%.
The equity-to-assets ratio is 67.7%, compared with 70% five periods ago. The balance sheet has a substantial internal cushion.
The net-debt-to-equity ratio is 0.35x. Balance sheet leverage is low on this measure.
Cash equals 3.5% of the balance sheet, compared with 12.3% five periods ago. This is the readily available cushion.
Overall picture
Sunstone Hotel Investors's financial position is more positive than negative: the funding mix is workable, although the cushion is not unlimited.
Annual Balance Sheet Sunstone Hotel Investors
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
809 M | 734 M | 388 M | 494 M | 468 M | 379 M | 154 M | 168 M | 495 M | 562 M | 598 M | 1.21 B | 1.3 B | 1.21 B | 1.42 B | - | - | - |
Long Term Debt |
918 M | 841 M | 815 M | 591 M | 589 M | 743 M | 889 M | 971 M | 977 M | 746 M | 1.01 B | 1.31 B | 1.38 B | 1.29 B | 1.52 B | - | - | - |
Long Term Debt Current |
- | - | - | 4.65 M | - | 5.03 M | 4.74 M | 5.84 M | 5.48 M | 185 M | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | 617 M | - | 806 M | 972 M | 1.03 B | 1.03 B | 799 M | 1.06 B | 1.36 B | 1.44 B | 1.32 B | 1.63 B | 1.12 B | - | - |
Total Current Liabilities |
- | - | - | 381 M | - | 90.8 M | 326 M | 233 M | 243 M | 409 M | 451 M | 299 M | 120 M | 200 M | 147 M | 113 M | - | - |
Total Liabilities |
1.08 B | 1 B | 983 M | 998 M | 801 M | 896 M | 1.3 B | 1.26 B | 1.28 B | 1.21 B | 1.51 B | 1.66 B | 1.56 B | 1.52 B | 1.78 B | 1.24 B | - | - |
Deferred Revenue |
- | - | - | 44.2 M | - | 13.3 M | 18 M | 16.7 M | 13.5 M | 14.5 M | 12.7 M | 10.7 M | 8.26 M | 6.94 M | - | - | - | - |
Retained Earnings |
- | - | - | 1.04 B | - | 914 M | 1.32 B | 1.18 B | 932 M | 787 M | -275 M | -319 M | -287 M | -317 M | -335 M | 29.6 M | - | - |
Total Assets |
3.03 B | 3.11 B | 3.15 B | 3.08 B | 3.04 B | 2.99 B | 3.92 B | 3.97 B | 3.86 B | 3.74 B | 3.86 B | 3.92 B | 3.51 B | 3.14 B | 3.1 B | 2.44 B | - | - |
Cash and Cash Equivalents |
109 M | 107 M | 426 M | 101 M | 120 M | 368 M | 817 M | 809 M | 488 M | 370 M | 499 M | 222 M | 104 M | 157 M | 149 M | 276 M | 352 M | 176 M |
Book Value |
1.94 B | 2.1 B | 2.17 B | 2.08 B | 2.24 B | 2.09 B | 2.62 B | 2.71 B | 2.58 B | 2.53 B | 2.35 B | 2.27 B | 1.95 B | 1.62 B | 1.33 B | 1.2 B | - | - |
Total Shareholders Equity |
1.94 B | 2.1 B | 2.17 B | 2.08 B | 2.24 B | 2.05 B | 2.57 B | 2.66 B | 2.53 B | 2.48 B | 2.3 B | 2.22 B | 1.9 B | 1.46 B | 1.27 B | 1.1 B | 887 M | 915 M |
Annual performance
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All numbers in USD currency
Quarterly Balance Sheet Sunstone Hotel Investors
| 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
944 M | 968 M | 943 M | 918 M | 917 M | 869 M | 842 M | 841 M | 814 M | 814 M | 814 M | 815 M | - | 14.3 M | 15.4 M | 14.4 M | 18.3 M | - | 21.2 M | 25.1 M | 26.4 M | 27.8 M | 28.6 M | 30 M | 45.9 M | 47.2 M | 48.5 M | 49.7 M | 50.9 M | 52.1 M | 53.3 M | 27 M | 973 M | 974 M | 976 M | 990 M | 978 M | 980 M | 982 M | 936 M | 749 M | 746 M | 746 M | 1.1 B | 1.01 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | - | - | - | - | - | - | - | 838 M | 620 M | 617 M | 839 M | - | 495 M | 626 M | 712 M | 798 M | 801 M | 806 M | 831 M | 918 M | 1.28 B | 972 M | 1.05 B | 1.07 B | 1.07 B | 1.03 B | 1.03 B | 1.03 B | 1.03 B | 1.03 B | 1.03 B | 1.03 B | 1.03 B | 799 M | 807 M | 812 M | 986 M | 1.06 B | 1.16 B | 1.23 B | 1.24 B | 1.35 B | 1.28 B | 1.32 B | 1.43 B | 1.44 B | 1.44 B | 1.33 B | 1.33 B | 1.32 B | 1.35 B | 1.43 B | 1.46 B | 1.38 B | 1.35 B | 1.39 B | 1.17 B |
Total Liabilities |
1.11 B | 1.15 B | 1.11 B | 1.08 B | 1.09 B | 1.03 B | 1.02 B | 1 B | 992 M | 985 M | 981 M | 983 M | 1 B | 985 M | 1 B | 998 M | 1.01 B | - | 745 M | 801 M | 932 M | 912 M | 885 M | 896 M | 1.12 B | 1.2 B | 1.46 B | 1.3 B | 1.19 B | 1.19 B | 1.18 B | 1.26 B | 1.16 B | 1.16 B | 1.15 B | 1.28 B | 1.16 B | 1.15 B | 1.16 B | 1.21 B | 1.18 B | 1.18 B | 1.25 B | 1.51 B | 1.49 B | 1.49 B | 1.59 B | 1.65 B | 1.56 B | 1.55 B | 1.56 B | 1.56 B | 1.57 B | 1.43 B | 1.44 B | 1.52 B | 1.53 B | 1.65 B | 1.66 B | 1.68 B | 1.78 B | 1.78 B | 1.56 B |
Deferred Revenue |
- | - | - | - | - | - | - | - | - | - | - | - | - | 44.1 M | 51.3 M | 44.2 M | 44.7 M | - | 49.4 M | 33.8 M | 31.4 M | 26.2 M | 14.6 M | 13.3 M | 12.8 M | 13.8 M | 13.9 M | 18 M | 17.1 M | 16.5 M | 16.6 M | 16.7 M | 16.7 M | 16.7 M | 16.7 M | 13.5 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
- | - | - | - | - | - | - | - | - | - | - | - | - | 1.1 B | 1.06 B | 1.04 B | 1.02 B | - | 962 M | 948 M | 810 M | 833 M | 860 M | 914 M | 952 M | 1.04 B | 1.16 B | 1.32 B | 1.27 B | 1.24 B | 1.2 B | 1.18 B | 1.11 B | 1.02 B | 968 M | 932 M | 913 M | 898 M | 849 M | 787 M | 754 M | 716 M | 652 M | 653 M | 417 M | 356 M | 305 M | 306 M | 292 M | 261 M | 219 M | 224 M | 220 M | 206 M | 187 M | 158 M | 147 M | 109 M | 97.1 M | 111 M | 103 M | 120 M | 80.9 M |
Total Assets |
2.9 B | 3.03 B | 3.01 B | 3.03 B | 3.05 B | 3.01 B | 3.1 B | 3.11 B | 3.12 B | 3.15 B | 3.14 B | 3.15 B | 3.09 B | 3.09 B | 3.07 B | 3.08 B | 3.11 B | - | 2.95 B | 3.04 B | 3.03 B | 3.02 B | 2.92 B | 2.99 B | 3.25 B | 3.42 B | 3.8 B | 3.92 B | 3.9 B | 3.93 B | 3.89 B | 3.97 B | 3.92 B | 3.85 B | 3.75 B | 3.86 B | 3.85 B | 3.84 B | 3.73 B | 3.74 B | 3.74 B | 3.72 B | 3.78 B | 3.87 B | 3.87 B | 3.82 B | 3.88 B | 3.92 B | 3.87 B | 3.78 B | 3.5 B | 3.51 B | 3.26 B | 3.12 B | 3.2 B | 3.14 B | 3.14 B | 3.24 B | 3.06 B | 3.1 B | 3.21 B | 3.23 B | 2.81 B |
Cash and Cash Equivalents |
318 M | 94.4 M | 91.1 M | 186 M | 121 M | 73.6 M | 72.3 M | 180 M | 116 M | 159 M | 401 M | 494 M | 114 M | 164 M | 146 M | 157 M | 168 M | 107 M | 254 M | 163 M | 222 M | 210 M | 365 M | 416 M | 504 M | 586 M | 901 M | 865 M | 776 M | 776 M | 735 M | 862 M | 719 M | 719 M | 546 M | 559 M | 538 M | 664 M | 506 M | 437 M | 367 M | 355 M | 397 M | 575 M | 176 M | 98.8 M | 157 M | 222 M | 135 M | 361 M | 94.8 M | 104 M | 100 M | 123 M | 208 M | 157 M | 163 M | 203 M | 125 M | 149 M | 159 M | 145 M | 153 M |
Book Value |
1.79 B | 1.88 B | 1.9 B | 1.94 B | 1.96 B | 1.98 B | 2.08 B | 2.1 B | 2.12 B | 2.16 B | 2.16 B | 2.17 B | 2.09 B | 2.1 B | 2.07 B | 2.08 B | 2.1 B | - | 2.21 B | 2.24 B | 2.1 B | 2.1 B | 2.03 B | 2.09 B | 2.13 B | 2.22 B | 2.34 B | 2.62 B | 2.71 B | 2.74 B | 2.71 B | 2.71 B | 2.76 B | 2.69 B | 2.6 B | 2.58 B | 2.7 B | 2.69 B | 2.58 B | 2.53 B | 2.56 B | 2.54 B | 2.53 B | 2.35 B | 2.38 B | 2.33 B | 2.29 B | 2.27 B | 2.31 B | 2.23 B | 1.94 B | 1.95 B | 1.69 B | 1.68 B | 1.77 B | 1.62 B | 1.62 B | 1.59 B | 1.41 B | 1.43 B | 1.43 B | 1.45 B | 1.25 B |
Total Shareholders Equity |
1.79 B | 1.88 B | 1.9 B | 1.94 B | 1.96 B | 1.98 B | 2.08 B | 2.1 B | 2.12 B | 2.16 B | 2.16 B | 2.17 B | 2.09 B | 2.1 B | 2.07 B | 2.08 B | 2.1 B | 2.1 B | 2.21 B | 2.24 B | 2.1 B | 2.1 B | 2.03 B | 2.09 B | 2.13 B | 2.22 B | 2.34 B | 2.62 B | 2.71 B | 2.74 B | 2.71 B | 2.71 B | 2.76 B | 2.69 B | 2.6 B | 2.58 B | 2.7 B | 2.69 B | 2.58 B | 2.53 B | 2.56 B | 2.54 B | 2.53 B | 2.35 B | 2.38 B | 2.33 B | 2.29 B | 2.27 B | 2.31 B | 2.23 B | 1.94 B | 1.95 B | 1.69 B | 1.68 B | 1.67 B | 1.52 B | 1.52 B | 1.49 B | 1.31 B | 1.33 B | 1.33 B | 1.35 B | 1.15 B |
Quarterly performance
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All numbers in USD currency
Balance Sheet is a fundamental financial report of Sunstone Hotel Investors, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
Balance sheet of other industry stocks – Reit hotels
| Issuer | Price | % 24h | Market Cap | Country | |
|---|---|---|---|---|---|
 |
Host Hotels & Resorts
HST
|
$ 25.95 | 2.63 % | $ 17.9 B |  USA |
 |
Apple Hospitality REIT
APLE
|
$ 20.15 | 2.36 % | $ 4.79 B | USA |
 |
Summit Hotel Properties
INN
|
$ 7.44 | 3.19 % | $ 795 M | USA |
 |
CorePoint Lodging Inc.
CPLG
|
- | -0.26 % | $ 895 M | USA |
 |
Braemar Hotels & Resorts
BHR
|
$ 1.6 | -1.24 % | $ 108 M | USA |
 |
Ryman Hospitality Properties
RHP
|
$ 138.27 | 2.1 % | $ 8.55 B | USA |
 |
Park Hotels & Resorts
PK
|
$ 16.48 | 0.12 % | $ 3.28 B | USA |
 |
Xenia Hotels & Resorts
XHR
|
$ 22.25 | 1.41 % | $ 2.15 B | USA |
 |
DiamondRock Hospitality Company
DRH
|
- | - | $ 1.91 B | USA |
 |
Sotherly Hotels
SOHO
|
- | - | $ 43.7 M | USA |