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Park Hotels & Resorts (Park Hotels & Resorts) Intrinsic Value: Projected FCF : $17.30 (As of Apr. 24, 2024)


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What is Park Hotels & Resorts Intrinsic Value: Projected FCF?

Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.

As of today (2024-04-24), Park Hotels & Resorts's Intrinsic Value: Projected FCF is $17.30. The stock price of Park Hotels & Resorts is $16.79. Therefore, Park Hotels & Resorts's Price-to-Intrinsic-Value-Projected-FCF of today is 1.0.

The historical rank and industry rank for Park Hotels & Resorts's Intrinsic Value: Projected FCF or its related term are showing as below:

PK' s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 0.61   Med: 0.82   Max: 1.02
Current: 0.97

During the past 11 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Park Hotels & Resorts was 1.02. The lowest was 0.61. And the median was 0.82.

PK's Price-to-Projected-FCF is ranked worse than
73.59% of 549 companies
in the REITs industry
Industry Median: 0.66 vs PK: 0.97

Park Hotels & Resorts Intrinsic Value: Projected FCF Historical Data

The historical data trend for Park Hotels & Resorts's Intrinsic Value: Projected FCF 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 Intrinsic Value: Projected FCF Chart

Park Hotels & Resorts Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Intrinsic Value: Projected FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only - 22.61 18.53 19.27 17.30

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
Intrinsic Value: Projected FCF Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 19.27 19.26 18.93 18.72 17.30

Competitive Comparison of Park Hotels & Resorts's Intrinsic Value: Projected FCF

For the REIT - Hotel & Motel subindustry, Park Hotels & Resorts's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF 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 Price-to-Projected-FCF Distribution in the REITs Industry

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

* The bar in red indicates where Park Hotels & Resorts's Price-to-Projected-FCF falls into.



Park Hotels & Resorts Intrinsic Value: Projected FCF Calculation

Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.

The details of how we calculate the intrinsic value of stocks are described in detail here.

This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.

Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + 0.8 * Total Stockholders Equity (most recent) ) / Shares Outstanding (Diluted Average)

In the case of negative Total Stockholders Equity, the following formula is used (see Explanation section below for the reason):

Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + Total Stockholders Equity (most recent) / 0.8 ) / Shares Outstanding (Diluted Average)


Add all the Free Cash Flow together and divide 6 will get Park Hotels & Resorts's Free Cash Flow(6 year avg) = $64.64.

Park Hotels & Resorts's Intrinsic Value: Projected FCF for today is calculated as

Intrinsic Value: Projected FCF=(Growth Multiple*Free Cash Flow (6 year avg)+Total Stockholders Equity (Dec23)*0.8)/Shares Outstanding (Diluted Average)
=(9.5203515959648*64.64+3814*0.8)/212.000
=17.30

* 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.


Park Hotels & Resorts  (NYSE:PK) Intrinsic Value: Projected FCF Explanation

The growth multiple is capped between 8.35 and 17.74.

Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.

Park Hotels & Resorts's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as

Price-to-Intrinsic-Value-Projected-FCF=Share Price/Intrinsic Value: Projected FCF
=16.79/17.295261920581
=0.97

* 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.


Park Hotels & Resorts Intrinsic Value: Projected FCF Related Terms

Thank you for viewing the detailed overview of Park Hotels & Resorts's Intrinsic Value: Projected FCF provided by GuruFocus.com. Please click on the following links to see related term pages.


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

Industry
Traded in Other Exchanges
Address
1775 Tysons Boulevard, 7th Floor, Tysons, VA, USA, 22102
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

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