Apple Hospitality REIT, Inc. (APLE) Income Statement
APLE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsAPLE revenue and net income
Where APLE's revenue goes
2025Each bar shows an amount and its share of revenue. APLE kept 12.4% of revenue as net income.
APLE profit margins
APLE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −1.3% | +4.5% | +18.6% | +4.6% |
| Gross profit | −82.3% | −41.7% | −5.8% | −12.3% |
| Operating income | −14.5% | +6.6% | — | +6.3% |
| Net income | −18.1% | +6.6% | — | +4.1% |
| EPS (diluted) | −12.2% | −0.9% | — | −2.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
APLE quarterly EPS vs estimates
Apple Hospitality REIT beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.43).
APLE income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.41B | $1.43B | $1.34B | $1.24B | $933.9M | $601.9M | $1.27B | $1.27B | $1.24B | $1.04B |
| Cost of revenue | $1.32B | $922.3M | $860.0M | $783.4M | $614.2M | $480.5M | $685.8M | $696.1M | $800.8M | $671.4M |
| Gross profit | $90.1M | $509.2M | $483.8M | $455.0M | $319.7M | $121.4M | $464.7M | $468.6M | $460.5M | $390.9M |
| Research & development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $32.3M | $169.5M | $164.9M | $147.2M | $120.9M | $90.4M | $150.2M | $130.1M | $127.2M | $99.7M |
| Total operating expenses | −$160.3M | $216.5M | $236.3M | $248.6M | $232.7M | $223.4M | $229.4M | $207.8M | $202.8M | $165.2M |
| Operating income | $250.4M | $292.8M | $247.5M | $206.5M | $87.0M | −$102.0M | $233.8M | $257.9M | $214.4M | $185.3M |
| Interest income | — | — | — | — | — | — | $61.2M | $51.2M | $47.3M | $40.0M |
| Interest expense | $89.5M | $77.7M | $68.9M | $59.7M | $67.7M | $70.8M | $61.2M | $51.2M | $47.3M | $40.0M |
| Income before taxes | $176.3M | $215.0M | $178.6M | $146.7M | $19.3M | −$172.9M | $172.6M | $206.7M | $183.3M | $145.1M |
| Income taxes | $959,000 | $947,000 | $1.1M | $1.9M | $468,000 | $332,000 | $679,000 | $587,000 | $847,000 | $431,000 |
| Net income | $175.4M | $214.1M | $177.5M | $144.8M | $18.8M | −$173.2M | $171.9M | $206.1M | $182.5M | $144.7M |
| EBITDA | $458.4M | $483.4M | $430.7M | $388.2M | $271.5M | $97.7M | $427.0M | $441.3M | $434.2M | $373.9M |
| EPS (diluted) | $0.72 | $0.82 | $0.78 | $0.74 | $0.13 | −$0.77 | $0.77 | $0.89 | $0.77 | $1.01 |
| Gross margin | 6.4% | 35.6% | 36.0% | 36.7% | 34.2% | 20.2% | 36.7% | 36.9% | 37.2% | 37.6% |
| Operating margin | 17.7% | 20.5% | 18.4% | 16.7% | 9.3% | −17.0% | 18.5% | 20.3% | 17.3% | 17.8% |
| Net margin | 12.4% | 15.0% | 13.2% | 11.7% | 2.0% | −28.8% | 13.6% | 16.2% | 14.7% | 13.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $402.6M | $337.7M | $326.4M | $373.9M | $384.4M | $327.7M | $333.0M | $378.8M | $390.1M | $329.5M | $312.5M | $358.3M |
| Cost of revenue | $227.6M | $328.5M | $323.1M | $94.0M | $243.4M | $223.2M | $224.9M | $240.9M | $238.2M | $218.3M | $209.3M | $225.4M |
| Gross profit | $175.0M | $9.3M | $3.3M | $279.9M | $140.9M | $104.5M | $108.2M | $138.0M | $151.8M | $111.3M | $103.2M | $132.9M |
| Sales, general & admin | $46.8M | $10.8M | $7.5M | $40.5M | $41.7M | $39.5M | $42.2M | $42.2M | $44.7M | $40.4M | $40.9M | $41.8M |
| Total operating expenses | $86.8M | −$38.7M | −$41.1M | $207.4M | $56.1M | $53.6M | $58.3M | $60.2M | $58.3M | $39.6M | $64.2M | $56.6M |
| Operating income | $88.2M | $48.0M | $44.4M | $72.5M | $84.9M | $50.9M | $49.9M | $77.7M | $93.5M | $71.6M | $38.9M | $76.3M |
| Interest expense | $20.8M | $20.9M | $21.1M | $21.4M | $21.0M | $19.4M | $19.9M | $21.2M | $19.4M | $17.3M | $17.9M | $17.5M |
| Income before taxes | $67.3M | $27.9M | $29.9M | $51.1M | $63.9M | $31.5M | $30.1M | $56.5M | $74.1M | $54.3M | $21.0M | $58.8M |
| Income taxes | $260,000 | $242,000 | $236,000 | $242,000 | $240,000 | $241,000 | $234,000 | $243,000 | $214,000 | $256,000 | $261,000 | $313,000 |
| Net income | $67.1M | $27.7M | $29.6M | $50.9M | $63.6M | $31.2M | $29.8M | $56.3M | $73.9M | $54.0M | $20.8M | $58.5M |
| EBITDA | $117.0M | $98.3M | $99.5M | $99.2M | $132.9M | $98.8M | $97.8M | $125.9M | $141.2M | $118.4M | $84.8M | $121.8M |
| EPS (diluted) | $0.52 | $0.12 | $0.13 | $0.20 | $0.27 | $0.12 | $0.12 | $0.25 | $0.30 | $0.15 | $0.09 | $0.26 |
| Gross margin | 43.5% | 2.7% | 1.0% | 74.9% | 36.7% | 31.9% | 32.5% | 36.4% | 38.9% | 33.8% | 33.0% | 37.1% |
| Operating margin | 21.9% | 14.2% | 13.6% | 19.4% | 22.1% | 15.5% | 15.0% | 20.5% | 24.0% | 21.7% | 12.5% | 21.3% |
| Net margin | 16.7% | 8.2% | 9.1% | 13.6% | 16.6% | 9.5% | 9.0% | 14.9% | 19.0% | 16.4% | 6.6% | 16.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in APLE's financial statements (latest annual report filed February 23, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
APLE financial results
In fiscal year 2025 (ended December 31, 2025), Apple Hospitality REIT reported revenue of $1.4 billion, down 1.3% from the year before. It had net income of $175.4 million (down 18.1%), a net profit margin of 12.4%. Diluted earnings per share came to $0.72. Over five years revenue grew at an average rate of 18.6% a year.
See the APLE stock overview for the latest quote and news, or the APLE chart for price history and technical indicators.
APLE income statement FAQ
What is Apple Hospitality REIT's annual revenue?
Apple Hospitality REIT reported total revenue of $1.4 billion for fiscal year 2025, which ended on December 31, 2025. That was down 1.3% from $1.4 billion the previous year.
Is Apple Hospitality REIT profitable?
Yes. Apple Hospitality REIT reported net income of $175.4 million in fiscal 2025, a net profit margin of 12.4%; its operating margin was 17.7%.
What is Apple Hospitality REIT's gross margin?
Apple Hospitality REIT's gross margin was 6.4% in fiscal 2025: for every $100 of revenue, Apple Hospitality REIT kept $6 after the direct cost of its products and services.
How fast is Apple Hospitality REIT growing?
Revenue grew 18.6% a year on average over the last five fiscal years, from $601.9 million to $1.4 billion.
What are Apple Hospitality REIT's earnings per share?
Apple Hospitality REIT earned $0.72 per diluted share in fiscal 2025, compared with $0.82 a year earlier.
When will Apple Hospitality REIT report its next earnings?
Apple Hospitality REIT is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Apple Hospitality REIT's fiscal year end?
Apple Hospitality REIT's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 23, 2026.