Park Hotels & Resorts Inc. (PK) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-92.3%

$1.30

vs $16.86 price

Levered DCF

$47.28

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.47

Distress zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-7.37×	13.79×	34.77×	16.61×	-9.73×	-2.8×	17.97×	11.15×
P/B	0.66×	0.8×	0.86×	0.62×	1×	0.83×	0.84×	0.94×
P/S	0.82×	1.12×	1.21×	1.07×	3.27×	4.75×	1.93×	1.93×
EV / EBITDA	18.34×	10.49×	10.64×	9.63×	98.25×	-9.01×	13.16×	8.64×
Gross margin	2.0%	28.7%	27.7%	27.7%	16.7%	-18.9%	30.3%	30.0%
Operating margin	8.9%	15.0%	12.7%	11.8%	-13.1%	-141.1%	15.0%	18.4%
Net margin	-11.1%	8.2%	3.6%	6.5%	-33.7%	-169.0%	10.8%	17.2%
Current ratio	0.28×	2.45×	2.28×	2.7×	3.35×	1.25×	1.91×	1.45×
Debt / equity	1.36×	1.31×	1.24×	1.12×	1.12×	1.1×	0.74×	0.52×
Interest coverage	0.85×	1.43×	1.36×	1.2×	-0.69×	-5.64×	3.04×	3.97×
Dividend yield	13.5%	17.6%	4.6%	0.3%	5.4%	6.0%	9.0%	8.8%
Payout ratio	-98.9%	241.5%	156.7%	4.3%	-52.5%	-16.7%	161.4%	98.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-9.0%	5.8%	2.5%	3.7%	-10.3%	-29.4%	4.7%	8.4%
Return on invested capital	2.9%	4.6%	2.9%	3.2%	-1.9%	-11.6%	3.3%	5.4%
Return on assets	-3.7%	2.3%	1.0%	1.7%	-4.7%	-13.6%	2.7%	5.0%
Free cash flow yield	4.9%	6.9%	6.7%	9.0%	-4.3%	-12.9%	4.7%	4.9%
Earnings yield	-13.6%	7.3%	3.0%	6.0%	-10.3%	-35.6%	5.6%	8.9%
Enterprise value	$6.1B	$7.3B	$7.3B	$6.6B	$8.7B	$8.5B	$9.9B	$7.8B
Net debt / EBITDA	12.09×	6.31×	5.85×	5.73×	48.19×	-4.7×	5.9×	2.81×
Cash conversion cycle (days)	-12	89	79	-26	-24	-42	-17	-14