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Service Properties Trust cash flow, quarter by quarter

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

Free cash flow$55.2M in Q3 2026 · −$73.0M over twelve months

Operating cash flow$88.4M
Capital spending−$33.2M
Free cash flow+$55.2M

Analysis

In Q3 2026, Service Properties Trust generated $88.4M of operating cash flow and spent $33.2M on capital projects, leaving free cash flow of $55.2M. That is $2.8M less than in Q3 2025 ($57.9M).

Over the twelve months to Sep 30, 2026, operating cash flow was $114M; the largest uses were net borrowing (+) / repaid (−) ($1.5B), capital spending ($187M), other investing ($60.3M); besides operations, cash came from other financing ($683M), asset & business sales ($606M); the cash balance fell by $379M.

Operating cash flow was $88.4M against net income of −$87.9M. The largest differences: depreciation & amortization +$72.2M, impairments +$53.7M, other liabilities +$22.3M.

Free cash flow

Service Properties Trust: free cash flow by quarterService Properties Trust: free cash flow by quarter−$88.9MQ4 2024−$23.2MQ1 2025−$46.6MQ2 2025$57.9MQ3 2025−$95.2MQ4 2025−$14.3MQ1 2026−$18.7MQ2 2026$55.2MQ3 2026
Operating cash flow less capital spending.
Service Properties Trust: operating cash flow against capital spendingService Properties Trust: operating cash flow against capital spendingOperating cash flowCapital spending−$9.7M$79.2MQ4 2024$38.2M$61.4MQ1 2025−$7K$46.6MQ2 2025$98.1M$40.2MQ3 2025−$18.5M$76.7MQ4 2025$35.6M$49.9MQ1 2026$8.3M$27.0MQ2 2026$88.4M$33.2MQ3 2026
Latest (Q3 2026): Operating cash flow $88.4M, Capital spending $33.2M.

Capital allocation, year by year

Service Properties Trust: where the cash came from (up) and went (down), by fiscal yearService Properties Trust: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $49.9MFY2021: Net borrowing $922MFY2021: Asset sales $51.4MFY2021: Capital spending −$95.0MFY2021: Buybacks −$790KFY2021: Dividends −$6.6M$1.0BFY2021FY2022: Operating cash flow $243MFY2022: Net borrowing −$1.5BFY2022: Asset sales $554MFY2022: Capital spending −$104MFY2022: Buybacks −$470KFY2022: Dividends −$38.0M$797MFY2022FY2023: Operating cash flow $486MFY2023: Net borrowing −$689MFY2023: Asset sales $156MFY2023: Capital spending −$201MFY2023: Buybacks −$802KFY2023: Dividends −$132M$642MFY2023FY2024: Operating cash flow $139MFY2024: Net borrowing −$7.6MFY2024: Asset sales $102MFY2024: Capital spending −$304MFY2024: Buybacks −$751KFY2024: Dividends −$101M$242MFY2024FY2025: Operating cash flow $118MFY2025: Net borrowing −$1.7BFY2025: Asset sales $853MFY2025: Capital spending −$225MFY2025: Buybacks −$660KFY2025: Dividends −$6.7M$971MFY2025
Over these 5 years operating cash flow totalled $1.0B; the largest uses were net borrowing ($3.9B) and capital spending ($928M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$40.1M
Debt$5.5B
Net debt$5.5B
Due within a year$2.0M

Service Properties Trust's operations bring cash in ($114M over twelve months), and it spends more than that on capital projects: a gap of $73.0M funded from its $40.1M of cash and investments and from borrowing ($5.5B of debt, $2.0M due within a year). That is a choice to invest, not a cash runway running down.

Service Properties Trust: debt maturities by year (FY2025)Service Properties Trust: debt maturities by year (FY2025)$2.0MYear 1$1.5BYear 2$1.0BYear 3$1.1BYear 4$400MYear 5$1.5BAfter year 5
Principal due in each year as disclosed in the annual report, against $40.1M of cash and investments now.

Where the cash came from and went

Service Properties Trust: sources (+) and uses (−) of cash, Q3 2026Service Properties Trust: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$88.4MAsset & business sales$64.1MOther financing−$46.3MCash drawn (+) / kept (−)−$33.8MCapital spending−$33.2MNet borrowing (+) / repaid (−)−$25.0MOther investing−$7.1MDividends−$6.5MBuybacks−$631K
Service Properties Trust: sources (+) and uses (−) of cash, TTM to Q3 2026Service Properties Trust: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)−$1.5BOther financing$683MAsset & business sales$606MCash drawn (+) / kept (−)$379MCapital spending−$187MOperating cash flow$114MOther investing−$60.3MDividends−$16.3MBuybacks−$735K

From profit to cash

Service Properties Trust: net income to operating cash flow, Q3 2026Service Properties Trust: net income to operating cash flow, Q3 2026Net income−$87.9MDepreciation & amortization$72.2MImpairments$53.7MOther non-cash−$198KPrepaid and other assets$3.0MOther liabilities$22.3MOperating cash flow$88.4M
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$88.4M−$33.2M−$631K−$6.5M−$25.0M−$33.8M$55.2M
Q2 2026$8.3M−$27.0M−$49K−$6.5M−$582M$10.7M−$18.7M
Q1 2026$35.6M−$49.9M−$31K−$1.7M−$294M$333M−$14.3M
Q4 2025−$18.5M−$76.7M−$24K−$1.7M−$617M$69.1M−$95.2M
Q3 2025$98.1M−$40.2M−$573K−$1.7M$42.5M−$355M$57.9M
Q2 2025−$7K−$46.6M−$59K−$1.7M—$8.1M−$46.6M
Q1 2025$38.2M−$61.4M−$4K−$1.7M−$55.0M$63.3M−$23.2M
Q4 2024−$9.7M−$79.2M−$31K−$1.7M$150M−$94.5M−$88.9M

Service Properties Trust: income statement and cash flow

Service Properties Trust, Q3 2026: revenue $400M (-17% year over year), operating margin -0.1%. The chart follows the revenue to costs, profit and cash.

Service Properties Trust: 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.