Host Hotels & Resorts, Inc. (HST) Balance Sheet
HST balance sheet, 2025
December 31, 2025 · U.S. dollars$13.05B assets = $6.32B liabilities + $6.73B equity
Both columns are drawn to the same scale: what HST owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HST financial health
Debt / equity0.86
Moderate leverage · $0.86 of debt for each $1 of equity
Equity / assets50.3%
Equity-funded · of assets funded by shareholders
Cash / debt13.6%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
HST balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $11.41B2016 | $13.05B2025 | +1.5%/yr | |
| Total liabilities | $4.21B2016 | $6.32B2025 | +4.6%/yr | |
| Shareholders’ equity | $7.20B2016 | $6.56B2025 | −1.0%/yr | |
| Cash & short-term investments | $372.0M2016 | $768.0M2025 | +8.4%/yr | |
| Total debt | $3.86B2016 | $5.64B2025 | +4.3%/yr | |
| Net cash (debt) | −$3.49B2016 | −$4.87B2025 | −$1.4B | |
| Working capital | $265.0M2016 | $879.0M2025 | +$614.0M | |
| Book value per share | $9.682016 | $9.452025 | −0.3%/yr | |
| Debt / equity | 0.542016 | 0.862025 | +0.32 | |
| Shares outstanding | 743.7M2016 | 693.9M2025 | −0.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HST assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
HST liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
HST debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HST balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $768.0M | $554.0M | $1.14B | $667.0M | $807.0M | $2.33B | $1.57B | $1.54B | $913.0M | $372.0M |
| Cash & equivalents | $768.0M | $554.0M | $1.14B | $667.0M | $807.0M | $2.33B | $1.57B | $1.54B | $913.0M | $372.0M |
| Short-term investments | — | — | — | $132.0M | $42.0M | — | — | $213.0M | $1.0M | $2.0M |
| Receivables | $153.0M | $115.0M | $200.0M | $507.0M | $113.0M | $22.0M | $63.0M | $71.0M | $79.0M | $55.0M |
| Inventory | $0 | $0 | $0 | $0 | $42.0M | $0 | $0 | $212.0M | $195.0M | $137.0M |
| Other current assets | $0 | $242.0M | $217.0M | $200.0M | $372.0M | $139.0M | $176.0M | $282.0M | $251.0M | $188.0M |
| Total current assets | $921.0M | $911.0M | $1.56B | $1.37B | $1.33B | $2.50B | $1.81B | $2.11B | $1.44B | $752.0M |
| Property, plant & equipment (net) | $560.0M | $11.46B | $10.17B | $10.30B | $10.54B | $10.01B | $595.0M | $587.0M | $501.0M | $564.0M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $259.0M | $166.0M | $126.0M | $132.0M | $42.0M | $21.0M | $56.0M | $48.0M | $327.0M | $286.0M |
| Other non-current assets | $11.31B | $506.0M | $382.0M | $459.0M | $431.0M | $360.0M | $9.84B | $9.35B | $9.43B | $9.81B |
| Total assets | $13.05B | $13.05B | $12.24B | $12.27B | $12.35B | $12.89B | $12.30B | $12.09B | $11.69B | $11.41B |
| Liabilities | ||||||||||
| Accounts payable | $355.0M | $351.0M | $408.0M | $372.0M | $85.0M | $71.0M | $263.0M | $293.0M | $283.0M | $278.0M |
| Short-term debt | $42.0M | $992.0M | $989.0M | $994.0M | $676.0M | $1.47B | $989.0M | $51.0M | $174.0M | $209.0M |
| Deferred revenue | — | — | $466.0M | — | — | — | −$4.84B | $1.05B | $1.17B | $1.21B |
| Total current liabilities | $42.0M | $1.40B | $1.46B | $1.43B | $803.0M | $1.61B | $1.25B | $344.0M | $457.0M | $487.0M |
| Long-term debt | $4.08B | $4.09B | $3.22B | $3.22B | $4.21B | $3.07B | $3.79B | $3.84B | $3.95B | $3.65B |
| Lease obligations | $563.0M | $560.0M | $563.0M | $568.0M | $564.0M | $610.0M | $606.0M | $1.0M | $1.0M | $1.0M |
| Other long-term liabilities | $2.19B | $783.0M | $1.79B | $736.0M | $762.0M | $1.78B | $0 | $215.0M | $113.0M | $74.0M |
| Total liabilities | $6.32B | $6.27B | $5.42B | $5.39B | $5.78B | $6.46B | $4.84B | $4.40B | $4.52B | $4.21B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $7.0M | $7.0M | $7.0M | $7.0M | $7.0M | $7.0M | $7.0M | $7.0M | $8.10B | $8.08B |
| Retained earnings (deficit) | −$670.0M | −$777.0M | −$839.0M | −$939.0M | −$1.19B | −$1.18B | −$307.0M | −$610.0M | −$1.07B | −$1.01B |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$68.0M | −$83.0M | −$70.0M | −$75.0M | −$76.0M | −$74.0M | −$56.0M | −$59.0M | −$60.0M | −$83.0M |
| Minority interest | $174.0M | $168.0M | $193.0M | $169.0M | — | $5.0M | $6.0M | $72.0M | $29.0M | $39.0M |
| Total shareholders' equity | $6.56B | $6.61B | $6.63B | $6.71B | $6.44B | $6.32B | $7.47B | $7.69B | $7.17B | $7.20B |
| Key figures | ||||||||||
| Total debt | $5.64B | $5.64B | $4.77B | $4.78B | $5.46B | $6.15B | $4.78B | $3.89B | $4.13B | $3.86B |
| Net cash (debt) | −$4.87B | −$5.09B | −$3.63B | −$4.12B | −$4.65B | −$3.82B | −$3.21B | −$2.35B | −$3.21B | −$3.49B |
| Working capital | $879.0M | −$486.0M | $100.0M | −$59.0M | $531.0M | $887.0M | $560.0M | $1.76B | $981.0M | $265.0M |
| Tangible book value | $6.56B | $6.61B | $6.63B | $6.71B | $6.44B | $6.32B | $7.47B | $7.69B | $7.17B | $7.20B |
| Book value per share | $9.45 | $9.36 | $9.31 | $9.35 | $9.07 | $8.95 | $10.21 | $10.39 | $9.70 | $9.68 |
| Shares outstanding | 693.9M | 705.9M | 712.8M | 717.5M | 710.3M | 705.9M | 731.1M | 740.6M | 739.1M | 743.7M |
| Current ratio | 21.93 | 0.65 | 1.07 | 0.96 | 1.66 | 1.55 | 1.45 | 6.12 | 3.15 | 1.54 |
| Quick ratio | 21.93 | 0.48 | 0.92 | 0.82 | 1.15 | 1.46 | 1.31 | 4.69 | 2.17 | 0.88 |
| Debt / equity | 0.86 | 0.85 | 0.72 | 0.71 | 0.85 | 0.97 | 0.64 | 0.51 | 0.58 | 0.54 |
| Equity / assets | 50.3% | 50.7% | 54.2% | 54.7% | 52.1% | 49.0% | 60.7% | 63.6% | 61.3% | 63.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $1.95B | $1.70B | $768.0M | $539.0M | $490.0M | $428.0M | $554.0M | $564.0M | $805.0M | $1.35B | $1.14B | $916.0M |
| Cash & equivalents | $1.95B | $1.70B | $768.0M | $539.0M | $490.0M | $428.0M | $554.0M | $564.0M | $805.0M | $1.35B | $1.14B | $916.0M |
| Receivables | $110.0M | $243.0M | $153.0M | $215.0M | $83.0M | $116.0M | $115.0M | $155.0M | $223.0M | $230.0M | $200.0M | $400.0M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $237.0M | $279.0M | $264.0M | $242.0M | $240.0M | $242.0M | $231.0M | $217.0M | $218.0M |
| Total current assets | $2.06B | $1.95B | $921.0M | $991.0M | $852.0M | $808.0M | $911.0M | $959.0M | $1.27B | $1.81B | $1.56B | $1.53B |
| Property, plant & equipment (net) | $10.20B | $563.0M | $560.0M | $11.23B | $11.36B | $11.42B | $11.46B | $11.51B | $10.57B | $10.12B | $10.17B | $10.23B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $299.0M | $284.0M | $259.0M | $217.0M | $223.0M | $203.0M | $166.0M | $162.0M | $156.0M | $147.0M | $147.0M | $126.0M |
| Other non-current assets | $692.0M | $10.36B | $11.31B | $601.0M | $527.0M | $516.0M | $506.0M | $448.0M | $413.0M | $391.0M | $361.0M | $400.0M |
| Total assets | $13.25B | $13.15B | $13.05B | $13.04B | $12.96B | $12.95B | $13.05B | $13.08B | $12.41B | $12.46B | $12.24B | $12.29B |
| Liabilities | ||||||||||||
| Accounts payable | $736.0M | $246.0M | $355.0M | $260.0M | $261.0M | $261.0M | $351.0M | $248.0M | $226.0M | $237.0M | $408.0M | $228.0M |
| Short-term debt | — | $997.0M | $42.0M | $995.0M | $994.0M | $993.0M | $992.0M | $991.0M | $990.0M | $1.29B | $989.0M | $988.0M |
| Total current liabilities | $745.0M | $1.25B | $42.0M | $1.31B | $1.30B | $1.29B | $1.40B | $1.32B | $1.27B | $1.56B | $1.46B | $1.29B |
| Long-term debt | $4.08B | $4.08B | $4.08B | $4.08B | $4.08B | $4.09B | $4.09B | $4.09B | $3.41B | $3.22B | $3.22B | $3.22B |
| Lease obligations | $563.0M | $566.0M | $563.0M | $564.0M | $566.0M | $559.0M | $560.0M | $559.0M | $562.0M | $564.0M | $564.0M | $563.0M |
| Other long-term liabilities | $1.81B | $811.0M | $2.19B | $828.0M | $801.0M | $781.0M | $783.0M | $792.0M | $743.0M | $740.0M | $736.0M | $753.0M |
| Total liabilities | $6.86B | $6.14B | $6.32B | $6.23B | $6.18B | $6.16B | $6.27B | $6.20B | $5.42B | $5.52B | $5.42B | $5.26B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $7.0M | $7.0M | $7.0M | $7.0M | $7.0M | $7.0M | $7.0M | $7.0M | $7.0M | $7.0M | $7.0M | $7.0M |
| Retained earnings (deficit) | −$712.0M | −$314.0M | −$670.0M | −$563.0M | −$585.0M | −$668.0M | −$777.0M | −$674.0M | −$615.0M | −$712.0M | −$839.0M | −$652.0M |
| Accumulated other comprehensive income | −$66.0M | −$65.0M | −$68.0M | −$67.0M | −$74.0M | −$79.0M | −$83.0M | −$75.0M | −$78.0M | −$73.0M | −$70.0M | −$73.0M |
| Minority interest | $230.0M | $187.0M | $174.0M | $152.0M | $139.0M | — | — | — | — | — | — | — |
| Total shareholders' equity | $6.39B | $6.83B | $6.56B | $6.66B | $6.64B | $6.65B | $6.61B | $6.71B | $6.81B | $6.74B | $6.63B | $6.87B |
| Key figures | ||||||||||||
| Total debt | $5.64B | $5.64B | $5.64B | $5.64B | $5.64B | $5.64B | $5.64B | $5.64B | $4.96B | $5.07B | $4.77B | $4.78B |
| Net cash (debt) | −$3.69B | −$3.94B | −$4.87B | −$5.10B | −$5.15B | −$5.22B | −$5.09B | −$5.08B | −$4.15B | −$3.73B | −$3.63B | −$3.86B |
| Working capital | $1.32B | $699.0M | $879.0M | −$324.0M | −$447.0M | −$480.0M | −$486.0M | −$357.0M | $1.0M | $246.0M | $100.0M | $246.0M |
| Tangible book value | $6.39B | $6.83B | $6.56B | $6.66B | $6.64B | $6.65B | $6.61B | $6.71B | $6.81B | $6.74B | $6.63B | $6.87B |
| Book value per share | $9.21 | $9.84 | $9.45 | $9.60 | $9.57 | $9.52 | $9.43 | $9.51 | $9.65 | $9.55 | $9.37 | $9.65 |
| Shares outstanding | 693.9M | 693.9M | 693.9M | 693.9M | 693.9M | 698.3M | 700.9M | 705.9M | 705.9M | 705.5M | 707.6M | 711.9M |
| Current ratio | 2.77 | 1.56 | 21.93 | 0.75 | 0.66 | 0.63 | 0.65 | 0.73 | 1.00 | 1.16 | 1.07 | 1.19 |
| Quick ratio | 2.77 | 1.56 | 21.93 | 0.57 | 0.44 | 0.42 | 0.48 | 0.55 | 0.81 | 1.01 | 0.92 | 1.02 |
| Debt / equity | 0.88 | 0.83 | 0.86 | 0.85 | 0.85 | 0.85 | 0.85 | 0.84 | 0.73 | 0.75 | 0.72 | 0.70 |
| Equity / assets | 48.2% | 51.9% | 50.3% | 51.1% | 51.2% | 51.4% | 50.7% | 51.3% | 54.9% | 54.0% | 54.2% | 55.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 25, 2026); data from EODHD.
HST financial position
At the end of fiscal 2025 (December 31, 2025), Host Hotels had total assets of $13.0 billion (up 0.0% from a year earlier), total liabilities of $6.3 billion and shareholders' equity of $6.6 billion. It held $768.0 million in cash and short-term investments against $5.6 billion of debt, net debt of $4.9 billion. Its current ratio was 21.93. In the latest quarter (ended June 30, 2026) total assets were $13.3 billion and equity $6.4 billion.
Related: HST income statement, HST cash flow statement, HST key metrics. See the HST stock overview for the latest quote and news.
HST balance sheet FAQ
What are Host Hotels's total assets?
Host Hotels reported total assets of $13.0 billion at the end of fiscal 2025 (December 31, 2025), compared with $13.0 billion a year earlier.
How much debt does Host Hotels have?
Host Hotels had $5.6 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.86.
How much cash does Host Hotels have?
Host Hotels held $768.0 million in cash and short-term investments at the end of fiscal 2025; with $5.6 billion of debt that is net debt of $4.9 billion.
What is Host Hotels's book value?
Host Hotels's shareholders' equity (book value) was $6.6 billion at the end of fiscal 2025, or $9.45 per share.
What is Host Hotels's current ratio?
Host Hotels had current assets of $921.0 million and current liabilities of $42.0 million, a current ratio of 21.93 (it can cover its short-term obligations).