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Host Hotels & Resorts cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$274M in Q3 2026 · $1.5B over twelve months

Operating cash flow$345M
Capital spending−$71.0M
Free cash flow+$274M
Cash / net income4.9×

Analysis

In Q3 2026, Host Hotels & Resorts generated $345M of operating cash flow and spent $71.0M on capital projects, leaving free cash flow of $274M. That is $131M more than in Q3 2025 ($143M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.7B; the largest uses were dividends ($1.1B), other investing ($363M), capital spending ($272M); besides operations, cash came from asset & business sales ($1.1B); the cash balance rose by $905M.

Operating cash flow was $345M against net income of $71.0M — 4.9× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$187M, other liabilities +$18.0M, stock-based pay +$7.0M.

Free cash flow

Host Hotels & Resorts: free cash flow by quarterHost Hotels & Resorts: free cash flow by quarter$235MQ4 2024$259MQ1 2025$381MQ2 2025$143MQ3 2025$445MQ4 2025$291MQ1 2026$451MQ2 2026$274MQ3 2026
Operating cash flow less capital spending.
Host Hotels & Resorts: operating cash flow against capital spendingHost Hotels & Resorts: operating cash flow against capital spendingOperating cash flowCapital spending$331M$96.0MQ4 2024$305M$46.0MQ1 2025$444M$63.0MQ2 2025$218M$75.0MQ3 2025$543M$98.0MQ4 2025$342M$51.0MQ1 2026$503M$52.0MQ2 2026$345M$71.0MQ3 2026
Latest (Q3 2026): Operating cash flow $345M, Capital spending $71.0M.

Capital allocation, year by year

Host Hotels & Resorts: where the cash came from (up) and went (down), by fiscal yearHost Hotels & Resorts: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $292MFY2021: Net borrowing −$757MFY2021: Shares issued $138MFY2021: Asset sales $729MFY2021: Capital spending −$293M$1.2BFY2021FY2022: Operating cash flow $1.4BFY2022: Net borrowing −$683MFY2022: Shares issued $1.0MFY2022: Asset sales $236MFY2022: Capital spending −$307MFY2022: Buybacks −$27.0MFY2022: Dividends −$150M$1.7BFY2022FY2023: Operating cash flow $1.4BFY2023: Shares issued $1.0MFY2023: Asset sales $34.0MFY2023: Capital spending −$195MFY2023: Buybacks −$182MFY2023: Dividends −$547M$1.5BFY2023FY2024: Operating cash flow $1.5BFY2024: Net borrowing $879MFY2024: Capital spending −$260MFY2024: Buybacks −$107MFY2024: Dividends −$737M$2.4BFY2024FY2025: Operating cash flow $1.5BFY2025: Net borrowing −$8.0MFY2025: Asset sales $125MFY2025: Capital spending −$282MFY2025: Buybacks −$205MFY2025: Dividends −$623M$1.6BFY2025
Over these 5 years operating cash flow totalled $6.2B; the largest uses were dividends ($2.1B) and net borrowing ($1.4B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.5B
Debt$1.3B
Net cash$218M
Due within a year$2.0M

Host Hotels & Resorts funds itself: free cash flow was $1.5B over the last twelve months, and $1.5B of cash and investments stands against $1.3B of debt ($2.0M due within a year, 746.0× covered by cash).

Host Hotels & Resorts: debt maturities by year (FY2025)Host Hotels & Resorts: debt maturities by year (FY2025)$2.0MYear 1$592MYear 2$900MYear 3$650MYear 4$750MYear 5$2.2BAfter year 5
Principal due in each year as disclosed in the annual report, against $1.5B of cash and investments now.

Where the cash came from and went

Host Hotels & Resorts: sources (+) and uses (−) of cash, Q3 2026Host Hotels & Resorts: sources (+) and uses (−) of cash, Q3 2026Dividends−$630MCash drawn (+) / kept (−)$460MOperating cash flow$345MOther investing−$98.0MCapital spending−$71.0MOther financing−$10.0MAsset & business sales$5.0MExchange rates−$1.0M
Host Hotels & Resorts: sources (+) and uses (−) of cash, TTM to Q3 2026Host Hotels & Resorts: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.7BDividends−$1.1BAsset & business sales$1.1BCash drawn (+) / kept (−)−$905MOther investing−$363MCapital spending−$272MBuybacks−$75.0MOther financing−$40.0MReal estate bought−$12.0MNet borrowing (+) / repaid (−)−$2.0MExchange rates−$2.0M

From profit to cash

Host Hotels & Resorts: net income to operating cash flow, Q3 2026Host Hotels & Resorts: net income to operating cash flow, Q3 2026Net income$71.0MDepreciation & amortization$187MStock-based pay$7.0MInventory$5.0MOther liabilities$18.0MOperating cash flow$345M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$345M−$71.0M—−$630M—$460M$274M
Q2 2026$503M−$52.0M—−$136M—−$255M$451M
Q1 2026$342M−$51.0M−$75.0M−$241M−$1.0M−$919M$291M
Q4 2025$543M−$98.0M—−$137M−$2.0M−$191M$445M
Q3 2025$218M−$75.0M—−$138M—$25.0M$143M
Q2 2025$444M−$63.0M−$105M−$138M—−$77.0M$381M
Q1 2025$305M−$46.0M−$100M−$210M−$1.0M$104M$259M
Q4 2024$331M−$96.0M—−$139M—$8.0M$235M

Host Hotels & Resorts: income statement and cash flow

Host Hotels & Resorts, Q3 2026: revenue $1.3B (+1% year over year), operating margin 9.0%. The chart follows the revenue to costs, profit and cash.

Host Hotels & Resorts: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.