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Sunstone Hotel Investors cash flow, quarter by quarter

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

Free cash flow$30.5M in Q3 2026 · $91.9M over twelve months

Operating cash flow$53.7M
Capital spending−$23.2M
Free cash flow+$30.5M
Cash / net income1.3×

Analysis

In Q3 2026, Sunstone Hotel Investors generated $53.7M of operating cash flow and spent $23.2M on capital projects, leaving free cash flow of $30.5M. That is $6.2M less than in Q3 2025 ($36.7M).

Over the twelve months to Sep 30, 2026, operating cash flow was $198M; the largest uses were buybacks ($146M), capital spending ($106M), other financing ($84.6M); besides operations, cash came from other investing ($282M), net borrowing (+) / repaid (−) ($65.0M); the cash balance rose by $120M.

Operating cash flow was $53.7M against net income of $40.9M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: gains on disposals −$31.5M, depreciation & amortization +$30.3M, payables +$9.7M.

Free cash flow

Sunstone Hotel Investors: free cash flow by quarterSunstone Hotel Investors: free cash flow by quarter−$16.6MQ4 2024$3.8MQ1 2025$30.9MQ2 2025$36.7MQ3 2025$7.3MQ4 2025$14.4MQ1 2026$39.6MQ2 2026$30.5MQ3 2026
Operating cash flow less capital spending.
Sunstone Hotel Investors: operating cash flow against capital spendingSunstone Hotel Investors: operating cash flow against capital spendingOperating cash flowCapital spending$30.5M$47.1MQ4 2024$32.0M$28.2MQ1 2025$58.7M$27.9MQ2 2025$54.4M$17.7MQ3 2025$36.6M$29.4MQ4 2025$45.4M$31.0MQ1 2026$62.0M$22.4MQ2 2026$53.7M$23.2MQ3 2026
Latest (Q3 2026): Operating cash flow $53.7M, Capital spending $23.2M.

Capital allocation, year by year

Sunstone Hotel Investors: where the cash came from (up) and went (down), by fiscal yearSunstone Hotel Investors: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksDividendsFY2021: Operating cash flow $28.4MFY2021: Net borrowing −$190MFY2021: Shares issued $38.4MFY2021: Capital spending −$63.7MFY2021: Dividends −$13.7M$66.8MFY2021FY2022: Operating cash flow $209MFY2022: Net borrowing −$25.3MFY2022: Capital spending −$129MFY2022: Buybacks −$108MFY2022: Dividends −$24.8M$209MFY2022FY2023: Operating cash flow $198MFY2023: Capital spending −$110MFY2023: Buybacks −$56.4MFY2023: Dividends −$59.8M$198MFY2023FY2024: Operating cash flow $170MFY2024: Net borrowing $25.9MFY2024: Capital spending −$157MFY2024: Buybacks −$27.2MFY2024: Dividends −$91.0M$196MFY2024FY2025: Operating cash flow $182MFY2025: Net borrowing $35.0MFY2025: Capital spending −$103MFY2025: Buybacks −$103MFY2025: Dividends −$86.4M$217MFY2025
Over these 5 years operating cash flow totalled $788M; the largest uses were capital spending ($563M) and buybacks ($295M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$237M
Debt$944M
Net debt$708M
Due within a year$65.0M

Sunstone Hotel Investors funds itself: free cash flow was $91.9M over the last twelve months, and $237M of cash and investments stands against $944M of debt ($65.0M due within a year, 3.6× covered by cash).

Sunstone Hotel Investors: debt maturities by year (FY2025)Sunstone Hotel Investors: debt maturities by year (FY2025)$65.0MYear 1$105MYear 3$760MAfter year 5
Principal due in each year as disclosed in the annual report, against $237M of cash and investments now.

Where the cash came from and went

Sunstone Hotel Investors: sources (+) and uses (−) of cash, Q3 2026Sunstone Hotel Investors: sources (+) and uses (−) of cash, Q3 2026Other investing$248MCash drawn (+) / kept (−)−$114MBuybacks−$103MOperating cash flow$53.7MOther financing−$39.9MCapital spending−$23.2MDividends−$21.5M
Sunstone Hotel Investors: sources (+) and uses (−) of cash, TTM to Q3 2026Sunstone Hotel Investors: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$282MOperating cash flow$198MBuybacks−$146MCash drawn (+) / kept (−)−$120MCapital spending−$106MOther financing−$84.6MDividends−$84.4MNet borrowing (+) / repaid (−)$65.0MTaxes on employees’ shares−$3.7M

From profit to cash

Sunstone Hotel Investors: net income to operating cash flow, Q3 2026Sunstone Hotel Investors: net income to operating cash flow, Q3 2026Net income$40.9MDepreciation & amortization$30.3MStock-based pay$2.0MGains on disposals−$31.5MReceivables$8.6MPayables$9.7MPrepaid and other assets−$4.0MOperating cash flow$53.7M
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$53.7M−$23.2M−$103M−$21.5M—−$114M$30.5M
Q2 2026$62.0M−$22.4M−$11.4M−$19.9M—−$37.0M$39.6M
Q1 2026$45.4M−$31.0M−$29.1M−$22.7M$25.0M$19.0M$14.4M
Q4 2025$36.6M−$29.4M−$1.9M−$20.3M—$11.8M$7.3M
Q3 2025$54.4M−$17.7M−$2.3M−$21.8M—−$52.6M$36.7M
Q2 2025$58.7M−$27.9M−$90.5M−$21.2M—$3.9M$30.9M
Q1 2025$32.0M−$28.2M−$8.0M−$23.1M—$31.5M$3.8M
Q4 2024$30.5M−$47.1M−$944K−$21.3M−$72.4M$12.3M−$16.6M

Sunstone Hotel Investors: income statement and cash flow

Sunstone Hotel Investors, Q3 2026: revenue $234M (+2% year over year), operating margin 17.6%. The chart follows the revenue to costs, profit and cash.

Sunstone Hotel Investors: 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.