Park Hotels & Resorts Inc. (PK) Balance Sheet

NYSE: PKAssets, liabilities, debt and equity over 10 years.

PK balance sheet, 2025

December 31, 2025 · U.S. dollars

$7.70B assets = $4.62B liabilities + $3.08B equity

Both columns are drawn to the same scale: what PK owns equals what it owes plus shareholders’ equity. Hover a block for its value.

PK financial health

Current ratio0.28

Tight · current assets cover current liabilities 0.28×

Debt / equity1.36

Moderate leverage · $1.36 of debt for each $1 of equity

Equity / assets40.7%

Equity-funded · of assets funded by shareholders

Cash / debt5.4%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles0.5%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

PK balance sheet trends, 2016–2025

Park Hotels & Resorts Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	$9.83B2016	$7.70B2025	−2.7%/yr
Total liabilities	$6.01B2016	$4.62B2025	−2.9%/yr
Shareholders’ equity	$3.82B2016	$3.13B2025	−2.2%/yr
Cash & short-term investments	$293.0M2016	$232.0M2025	−2.6%/yr
Total debt	$3.07B2016	$4.26B2025	+3.7%/yr
Net cash (debt)	−$2.77B2016	−$4.03B2025	−$1.2B
Working capital	$70.0M2016	−$1.15B2025	−$1.2B
Book value per share	$19.312016	$15.732025	−2.2%/yr
Current ratio	1.152016	0.282025	−0.87
Debt / equity	0.802016	1.362025	+0.56
Shares outstanding	198.0M2016	199.0M2025	+0.1%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

PK assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

PK liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

PK debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

PK balance sheet

Park Hotels & Resorts Inc. annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	$232.0M	$402.0M	$717.0M	$906.0M	$688.0M	$951.0M	$346.0M	$410.0M	$364.0M	$293.0M
Cash & equivalents	$232.0M	$402.0M	$717.0M	$906.0M	$688.0M	$951.0M	$346.0M	$410.0M	$364.0M	$293.0M
Short-term investments	—	—	—	$1.0M	$15.0M	—	—	—	$15.0M	$57.0M
Receivables	$116.0M	$951.0M	$872.0M	$129.0M	$96.0M	$26.0M	$180.0M	$153.0M	$125.0M	$130.0M
Inventory	$0	$0	−$59.0M	$0	$15.0M	$1.08B	$764.0M	$0	$0	$0
Other current assets	$106.0M	$107.0M	$151.0M	$91.0M	$95.0M	$0	$0	$97.0M	$100.0M	$115.0M
Total current assets	$454.0M	$1.46B	$1.68B	$1.13B	$894.0M	$1.05B	$720.0M	$660.0M	$589.0M	$538.0M
Property, plant & equipment (net)	$7.12B	$7.59B	$7.66B	$8.52B	$8.72B	$9.42B	$9.84B	$7.97B	$8.31B	$8.54B
Goodwill & intangible assets	$41.0M	$41.0M	$42.0M	$43.0M	$44.0M	$45.0M	$653.0M	$634.0M	$647.0M	$648.0M
Long-term investments	$0	$0	$0	$1.0M	$15.0M	$14.0M	$35.0M	$50.0M	$84.0M	$81.0M
Other non-current assets	$80.0M	$71.0M	$40.0M	$46.0M	$69.0M	$60.0M	$40.0M	$44.0M	$83.0M	$26.0M
Total assets	$7.70B	$9.16B	$9.42B	$9.73B	$9.74B	$10.59B	$11.29B	$9.36B	$9.71B	$9.83B
Liabilities
Accounts payable	$198.0M	$226.0M	$210.0M	$220.0M	$156.0M	$147.0M	$217.0M	$183.0M	$215.0M	$167.0M
Short-term debt	$1.60B	$225.0M	$61.0M	$725.0M	$78.0M	$601.0M	$670.0M	$2.95B	$1.0M	$56.0M
Deferred revenue	—	—	$305.0M	—	−$78.0M	$10.0M	−$670.0M	−$2.95B	−$1.0M	−$56.0M
Total current liabilities	$1.60B	$597.0M	$738.0M	$417.0M	$267.0M	$235.0M	$376.0M	$455.0M	$494.0M	$468.0M
Long-term debt	$3.84B	$4.57B	$4.49B	$4.62B	$4.67B	$5.12B	$3.87B	$2.95B	$2.96B	$3.01B
Lease obligations	$210.0M	$226.0M	$224.0M	$234.0M	$227.0M	$245.0M	$261.0M	$1.0M	$16.0M	$14.0M
Other long-term liabilities	$0	$404.0M	$423.0M	$406.0M	$401.0M	$388.0M	$592.0M	$374.0M	$297.0M	$2.53B
Total liabilities	$4.62B	$5.57B	$5.65B	$5.44B	$5.34B	$5.74B	$4.84B	$3.78B	$3.75B	$6.01B
Shareholders' equity
Common stock & paid-in capital	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$3.83B	$3.94B
Retained earnings (deficit)	−$902.0M	−$420.0M	−$344.0M	$16.0M	−$83.0M	$376.0M	$1.92B	$2.05B	$2.23B	$3.87B
Treasury stock	—	—	—	—	—	—	—	—	$0	—
Accumulated other comprehensive income	—	—	$3.77B	$4.29B	$4.40B	−$4.0M	−$3.0M	−$6.0M	−$45.0M	−$67.0M
Minority interest	−$55.0M	−$51.0M	−$46.0M	−$48.0M	−$49.0M	−$50.0M	−$45.0M	−$46.0M	−$49.0M	—
Total shareholders' equity	$3.13B	$3.65B	$3.81B	$4.34B	$4.45B	$4.84B	$6.45B	$5.59B	$5.96B	$3.82B
Key figures
Total debt	$4.26B	$4.79B	$4.71B	$4.85B	$4.98B	$5.72B	$4.54B	$2.95B	$2.96B	$3.07B
Net cash (debt)	−$4.03B	−$4.39B	−$4.00B	−$3.94B	−$4.29B	−$4.77B	−$4.20B	−$2.54B	−$2.60B	−$2.77B
Working capital	−$1.15B	$863.0M	$943.0M	$709.0M	$627.0M	$811.0M	$344.0M	$205.0M	$95.0M	$70.0M
Tangible book value	$3.09B	$3.60B	$3.77B	$4.30B	$4.41B	$4.80B	$5.80B	$4.95B	$5.32B	$3.17B
Book value per share	$15.73	$17.44	$17.74	$19.03	$18.86	$20.52	$30.29	$27.38	$27.86	$19.31
Shares outstanding	199.0M	209.0M	215.0M	228.0M	236.0M	236.0M	213.0M	204.0M	214.0M	198.0M
Current ratio	0.28	2.45	2.28	2.70	3.35	4.45	1.91	1.45	1.19	1.15
Quick ratio	0.22	2.27	2.15	2.48	2.94	4.16	1.40	1.24	0.99	0.90
Debt / equity	1.36	1.31	1.24	1.12	1.12	1.18	0.70	0.53	0.50	0.80
Equity / assets	40.7%	39.8%	40.5%	44.6%	45.7%	45.7%	57.1%	59.7%	61.4%	38.9%

Park Hotels & Resorts Inc. quarterly balance sheet
	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	$264.0M	$156.0M	$232.0M	$278.0M	$319.0M	$233.0M	$402.0M	$480.0M	$449.0M	$378.0M	$717.0M	$726.0M
Cash & equivalents	$264.0M	$156.0M	$232.0M	$278.0M	$319.0M	$233.0M	$402.0M	$480.0M	$449.0M	$378.0M	$717.0M	$726.0M
Receivables	$151.0M	$142.0M	$116.0M	$992.0M	$981.0M	$961.0M	$951.0M	$928.0M	$922.0M	$899.0M	$872.0M	$149.0M
Inventory	$0	$0	$0	$0	$0	$0	$0	−$95.0M	$0	$0	$0	$1.06B
Other current assets	$0	$100.0M	$106.0M	$86.0M	$100.0M	$93.0M	$107.0M	$0	$110.0M	$94.0M	$92.0M	$0
Total current assets	$415.0M	$398.0M	$454.0M	$1.36B	$1.40B	$1.29B	$1.46B	$604.0M	$1.48B	$1.37B	$1.68B	$998.0M
Property, plant & equipment (net)	$7.06B	$7.14B	$7.12B	$7.36B	$7.36B	$7.50B	$7.59B	$7.59B	$181.0M	$191.0M	$7.66B	$8.23B
Goodwill & intangible assets	$40.0M	$41.0M	$41.0M	$41.0M	$41.0M	$41.0M	$41.0M	$42.0M	$42.0M	$42.0M	$42.0M	$42.0M
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$183.0M	$77.0M	$80.0M	$78.0M	$69.0M	$70.0M	$71.0M	$937.0M	$7.46B	$7.48B	$40.0M	$36.0M
Total assets	$7.70B	$7.66B	$7.70B	$8.83B	$8.87B	$8.90B	$9.16B	$9.17B	$9.17B	$9.09B	$9.42B	$9.30B
Liabilities
Accounts payable	$226.0M	$225.0M	$198.0M	$237.0M	$237.0M	$212.0M	$226.0M	$240.0M	$230.0M	$223.0M	$210.0M	$293.0M
Short-term debt	$1.48B	$1.60B	$1.60B	$53.0M	$215.0M	$58.0M	$60.0M	$2.0M	$58.0M	$60.0M	$61.0M	$725.0M
Deferred revenue	—	—	—	—	—	—	—	—	$725.0M	−$218.0M	$305.0M	—
Total current liabilities	$1.48B	$379.0M	$388.0M	$543.0M	$533.0M	$487.0M	$597.0M	$487.0M	$1.14B	$1.05B	$738.0M	$429.0M
Long-term debt	$3.91B	$3.84B	$3.84B	$4.56B	$4.57B	$4.57B	$4.57B	$4.58B	$4.58B	$4.49B	$4.49B	$4.49B
Lease obligations	$188.0M	$208.0M	$210.0M	$216.0M	$220.0M	$223.0M	$226.0M	$213.0M	$216.0M	$219.0M	$224.0M	$225.0M
Other long-term liabilities	$0	$409.0M	$398.0M	$397.0M	$384.0M	$412.0M	$404.0M	$674.0M	$0	$0	$424.0M	$446.0M
Total liabilities	$4.67B	$4.62B	$4.62B	$5.50B	$5.48B	$5.46B	$5.57B	$5.47B	$5.43B	$5.34B	$5.65B	$5.37B
Shareholders' equity
Common stock & paid-in capital	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M
Retained earnings (deficit)	−$940.0M	−$937.0M	−$902.0M	−$647.0M	−$580.0M	−$525.0M	−$420.0M	−$353.0M	−$355.0M	−$367.0M	−$344.0M	−$169.0M
Minority interest	−$57.0M	−$55.0M	−$55.0M	−$56.0M	−$56.0M	—	—	—	—	—	—	—
Total shareholders' equity	$3.09B	$3.09B	$3.13B	$3.38B	$3.44B	$3.49B	$3.65B	$3.75B	$3.78B	$3.79B	$3.81B	$3.98B
Key figures
Total debt	$4.10B	$4.04B	$4.05B	$4.78B	$4.78B	$4.79B	$4.79B	$4.79B	$4.80B	$4.71B	$4.71B	$4.71B
Net cash (debt)	−$3.84B	−$3.89B	−$3.81B	−$4.50B	−$4.46B	−$4.55B	−$4.39B	−$4.31B	−$4.35B	−$4.33B	−$4.00B	−$3.99B
Working capital	−$1.06B	$19.0M	$66.0M	$813.0M	$867.0M	$800.0M	$863.0M	$117.0M	$346.0M	$317.0M	$943.0M	$569.0M
Tangible book value	$3.05B	$3.05B	$3.09B	$3.34B	$3.40B	$3.45B	$3.60B	$3.71B	$3.74B	$3.75B	$3.77B	$3.94B
Book value per share	$15.45	$15.44	$15.73	$16.99	$17.22	$17.47	$17.69	$18.04	$17.91	$17.96	$18.16	$18.79
Shares outstanding	200.0M	200.0M	199.0M	199.0M	200.0M	200.0M	206.0M	208.0M	211.0M	211.0M	210.0M	212.0M
Current ratio	0.28	1.05	1.17	2.50	2.63	2.64	2.45	1.24	1.30	1.30	2.28	2.33
Quick ratio	0.28	0.79	0.90	2.34	2.44	2.45	2.27	2.89	1.21	1.21	2.15	2.04
Debt / equity	1.33	1.31	1.29	1.41	1.39	1.37	1.31	1.28	1.27	1.24	1.24	1.18
Equity / assets	40.1%	40.3%	40.7%	38.3%	38.8%	39.3%	39.8%	40.9%	41.2%	41.7%	40.5%	42.8%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 20, 2026); data from EODHD.

PK financial position

At the end of fiscal 2025 (December 31, 2025), Park Hotels & Resorts had total assets of $7.7 billion (down 15.9% from a year earlier), total liabilities of $4.6 billion and shareholders' equity of $3.1 billion. It held $232.0 million in cash and short-term investments against $4.3 billion of debt, net debt of $4.0 billion. Its current ratio was 0.28. In the latest quarter (ended June 30, 2026) total assets were $7.7 billion and equity $3.1 billion.

Related: PK income statement, PK cash flow statement, PK key metrics. See the PK stock overview for the latest quote and news.

PK balance sheet FAQ

What are Park Hotels & Resorts's total assets?

Park Hotels & Resorts reported total assets of $7.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $9.2 billion a year earlier.

How much debt does Park Hotels & Resorts have?

Park Hotels & Resorts had $4.3 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.36.

How much cash does Park Hotels & Resorts have?

Park Hotels & Resorts held $232.0 million in cash and short-term investments at the end of fiscal 2025; with $4.3 billion of debt that is net debt of $4.0 billion.

What is Park Hotels & Resorts's book value?

Park Hotels & Resorts's shareholders' equity (book value) was $3.1 billion at the end of fiscal 2025, or $15.73 per share.

What is Park Hotels & Resorts's current ratio?

Park Hotels & Resorts had current assets of $454.0 million and current liabilities of $1.6 billion, a current ratio of 0.28 (current liabilities exceed current assets).

How much goodwill does Park Hotels & Resorts have?

Park Hotels & Resorts carried $41.0 million of goodwill and intangible assets, 0.5% of total assets, at the end of fiscal 2025.