Park Hotels & Resorts (Park Hotels & Resorts) EBIT : $396 Mil (TTM As of Dec. 2023)

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What is Park Hotels & Resorts EBIT?

Park Hotels & Resorts's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $287 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $396 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Park Hotels & Resorts's annualized ROC % for the quarter that ended in Dec. 2023 was 2.30%. Park Hotels & Resorts's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 14.45%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Park Hotels & Resorts's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 5.33%.

Park Hotels & Resorts EBIT Historical Data

The historical data trend for Park Hotels & Resorts's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Park Hotels & Resorts EBIT Chart

Park Hotels & Resorts Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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491.00

-1,237.00

-192.00

420.00

396.00

Park Hotels & Resorts Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															99.00	95.00	-82.00	96.00	287.00

Competitive Comparison of Park Hotels & Resorts's EBIT

For the REIT - Hotel & Motel subindustry, Park Hotels & Resorts's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Park Hotels & Resorts's EV-to-EBIT Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Park Hotels & Resorts's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Park Hotels & Resorts's EV-to-EBIT falls into.

Park Hotels & Resorts EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $396 Mil.

Park Hotels & Resorts (NYSE:PK) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Park Hotels & Resorts's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	220 * ( 1 - 14.93% )	/	( (8307	+	7964)	/ 2 )
=	187.154	/	8135.5
=	2.30 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	9305	-	429	-	( 726	-	max(0, 429	-	998	+	726	))
=	8307

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	9419	-	738	-	( 717	-	max(0, 738	-	1681	+	717	))
=	7964

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Park Hotels & Resorts's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1148	/	( ( (8229 + max(-157, 0))	+	(7656 + max(-534, 0)) )	/	2 )
=	1148	/	( ( 8229	+	7656 )	/	2 )
=	1148	/	7942.5
=	14.45 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(149	+	0	+	123)	-	(429	+	0	+	0)
=	-157

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(112	+	0	+	92)	-	(738	+	0	+	0)
=	-534

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Park Hotels & Resorts's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	396	/	7434.059
	=	5.33 %

Park Hotels & Resorts EBIT Related Terms

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Park Hotels & Resorts (Park Hotels & Resorts) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Park Hotels & Resorts Inc (NYSE:PK) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

HIP:Germany

Address

1775 Tysons Boulevard, 7th Floor, Tysons, VA, USA, 22102

Website

https://www.pkhotelsandresorts.com

Park Hotels & Resorts owns upper-upscale and luxury hotels with 26,373 rooms across 41 hotels in the United States. Park also has interests through joint ventures in another 2,656 rooms in four U.S. hotels. Park was spun out of narrow-moat Hilton Worldwide Holdings at the start of 2017, so most of the company's hotels are still under Hilton brands. The company has sold all its international hotels and many of its lower-quality U.S. hotels to focus on high-quality assets in domestic gateway markets.

Executives

Geoffrey Garrett	director	C/O PARK HOTELS & RESORTS, 1775 TYSONS BOULEVARD, 7TH FLOOR, TYSONS VA 22102
Thomas D Eckert	director	1997 ANNAPOLIS EXCHANGE PARKWAY, SUITE 410, ANNAPOLIS MD 21401
Nancy M. Vu	officer: SVP,Gen. Counsel & Secretary	1775 TYSONS BLVD., 7TH FLOOR, TYSONS VA 22102
Thomas A Natelli	director	1997 ANNAPOLIS EXCHANGE PARKWAY, SUITE 410, ANNAPOLIS MD 21401
Jill C Olander	officer: See Remarks	C/O PARK HOTELS & RESORTS INC., 1775 TYSONS BLVD., 7TH FLOOR, TYSONS VA 22102
Baltimore Thomas J Jr	director, officer: See Remarks	PARK HOTELS & RESORTS INC., 1775 TYSONS BLVD, 7TH FLOOR, TYSONS VA 22102
Darren W Robb	officer: See Remarks	C/O PARK HOTELS & RESORTS INC., 1775 TYSONS BLVD., 7TH FLOOR, TYSONS VA 22102
Carl A. Mayfield	officer: EVP, Design and Construction	C/O PARK HOTELS & RESORTS INC., 1775 TYSONS BLVD, 7TH FLOOR, TYSONS VA 22102
Matthew Abram Sparks	officer: See Remarks	C/O HILTON GRAND VACATIONS, 5323 MILLENIA LAKES BLVD., SUITE 400, ORLANDO FL 32839
Hna Tourism Group Co., Ltd.	10 percent owner	HNA BUILDING, NO. 7 GUOXING ROAD, HAIKOU F4 570203
Stephen I Sadove	director
Mu Xianyu	director	C/O PARK HOTELS & RESORTS INC., 1600 TYSONS BOULEVARD, STE. 1000, MCLEAN VA 22102
Blackstone Real Estate Associates Vi L.p.	10 percent owner	C/O THE BLACKSTONE GROUP, 345 PARK AVE., NEW YORK NY 10154
Blackstone Real Estate Partners Vi.te.2 Prime L.p.	10 percent owner	C/O THE BLACKSTONE GROUP L.P., 345 PARK AVE., NEW YORK NY 10154
Hlt Holdco Iii Prime Llc	10 percent owner	C/O THE BLACKSTONE GROUP L.P., 345 PARK AVE., NEW YORK NY 10154