Filing Flows › Sunstone Hotel Investors (SHO) › Q4 2025
Sunstone Hotel Investors (SHO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Sunstone Hotel Investors (SHO) reported revenue of $237M for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and +3% from the quarter before. Operating margin was 3.0%, net earnings $3.2M (1.3% of revenue).
Sunstone Hotel Investors, Q4 2025: revenue $237M (+10% year over year), operating margin 3.0%, net earnings $3.2M, operating cash flow $36.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $237M | +3% | +10% |
| Operating profit | $7.2M | +391% | +774% |
| Net earnings | $3.2M | — | — |
| Operating cash flow | $36.6M | -33% | +20% |
| Free cash flow | $7.3M | -80% | — |
What changed
Revenue was $237.0M in Q4 2025, up 10% year over year and up 3% from the previous quarter. Room was the largest line at 60% of revenue.
Operating profit was $7.2M, a 3.0% margin (up 2.6 points year over year). Of the extra revenue versus a year earlier, 29% reached operating profit, above the 0% margin then. Total costs grew 7% against revenue growth of 10%. The fastest-growing cost line was General & admin (+27%). Net earnings were $3.2M. The effective tax rate was -0.8%.
Operating cash flow was $36.6M (up 20% year over year), 508% of net income including minority interests. Non-cash charges added back $34.2M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items used $6.7M. Capital expenditures of $29.4M left free cash flow of $7.3M.
Questions
What was Sunstone Hotel Investors' revenue in the fourth quarter 2025?
Sunstone Hotel Investors (SHO) reported revenue of $237M for the fourth quarter 2025 (Q4 2025), +10% from a year earlier and +3% from the quarter before.
Was Sunstone Hotel Investors profitable in the fourth quarter 2025?
Operating profit was $7.2M (3.0% of revenue) and net earnings $3.2M.