Sunstone Hotel Investors, Inc. (SHO) Key Metrics
SHO valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.20B
- Enterprise value
- $3.19B
- P/E (TTM)
- 56.3 10-yr median 24.4
- Forward P/E
- 555.6
- PEG ratio
- 3.00
- Price / sales
- 2.2 10-yr median 2.7
- Price / book
- 1.3 10-yr median 1.1
- EV / EBITDA
- 13.5 10-yr median 11.2
- Dividend yield
- 3.04% $0.36 a year
- Beta
- 1.02
SHO key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsSHO valuation Price multiples at each fiscal year-end price.
SHO returns How much profit the business earns on the capital it uses.
SHO per-share figures Results divided by the shares outstanding at year-end.
SHO financial health Debt, liquidity and how easily interest is covered.
SHO efficiency & capital use Working capital cycle and where the cash goes.
SHO valuation history
SHO returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
SHO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
SHO cash returned to shareholders
SHO price vs earnings per share
SHO key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.74B | $2.40B | $2.21B | $2.05B | $2.54B | $2.45B | $3.14B | $2.94B | $3.67B | $3.28B |
| Enterprise value | $2.55B | $3.15B | $2.61B | $2.78B | $3.05B | $2.87B | $3.36B | $3.13B | $4.19B | $3.86B |
| P/E ratio | 70.7 | 55.5 | 10.7 | 23.5 | 74.0 | — | 23.1 | 11.7 | 25.2 | 24.4 |
| Price / sales | 1.8 | 2.6 | 2.2 | 2.3 | 5.0 | 9.1 | 2.8 | 2.5 | 3.1 | 2.8 |
| Price / book | 0.9 | 1.1 | 1.0 | 1.0 | 1.2 | 1.2 | 1.2 | 1.1 | 1.4 | 1.3 |
| Price / free cash flow | 22.1 | 14.1 | 11.1 | 9.8 | 89.4 | — | 10.8 | 10.3 | 18.7 | 26.6 |
| Price / operating cash flow | 9.6 | 14.1 | 11.1 | 9.8 | 89.4 | — | 10.8 | 9.6 | 11.8 | 10.7 |
| EV / sales | 2.7 | 3.5 | 2.6 | 3.1 | 6.0 | 10.7 | 3.0 | 2.7 | 3.5 | 3.2 |
| EV / EBITDA | 12.0 | 14.7 | 6.7 | 11.2 | 15.8 | — | 9.8 | 6.9 | 12.1 | 11.0 |
| EV / free cash flow | 32.4 | 18.5 | 13.2 | 13.3 | 107.6 | — | 11.6 | 10.9 | 21.4 | 31.3 |
| Earnings yield | 1.4% | 1.8% | 9.4% | 4.2% | 1.4% | −16.5% | 4.3% | 8.5% | 4.0% | 4.1% |
| Free cash flow yield | 4.5% | 7.1% | 9.0% | 10.2% | 1.1% | −4.8% | 9.3% | 9.8% | 5.3% | 3.8% |
| Dividend yield | 5.0% | 3.8% | 2.7% | 1.2% | 0.5% | 6.4% | 5.4% | 6.0% | 4.4% | 6.9% |
| Shareholder yield (dividends + buybacks) | 11.2% | 5.1% | 5.4% | 6.7% | 8.5% | 10.8% | 7.2% | 6.2% | 4.5% | 7.0% |
| Share price at fiscal year-end | $8.94 | $11.84 | $10.73 | $9.66 | $11.73 | $11.33 | $13.92 | $13.01 | $16.53 | $15.25 |
| Per share | ||||||||||
| Revenue per share | $4.94 | $4.47 | $4.79 | $4.29 | $2.35 | $1.24 | $4.94 | $5.13 | $5.38 | $5.53 |
| Earnings per share | $0.13 | $0.21 | $1.00 | $0.41 | $0.16 | −$1.87 | $0.60 | $1.11 | $0.66 | $0.62 |
| Operating cash flow per share | $0.94 | $0.84 | $0.96 | $0.98 | $0.13 | −$0.54 | $1.29 | $1.35 | $1.40 | $1.42 |
| Free cash flow per share | $0.41 | $0.84 | $0.96 | $0.98 | $0.13 | −$0.54 | $1.29 | $1.27 | $0.88 | $0.57 |
| Cash per share | $0.56 | $0.53 | $2.07 | $0.48 | $0.56 | $1.71 | $3.62 | $3.58 | $2.20 | $1.72 |
| Book value per share | $10.01 | $10.38 | $10.52 | $9.80 | $10.17 | $9.49 | $11.41 | $11.79 | $11.42 | $11.55 |
| Tangible book value per share | $10.00 | $10.38 | $10.52 | $9.80 | $9.97 | $9.39 | $11.27 | $11.56 | $11.26 | $11.38 |
| Dividends per share | $0.44 | $0.45 | $0.29 | $0.12 | $0.06 | $0.72 | $0.75 | $0.79 | $0.73 | $1.06 |
| Capex per share | $0.53 | $1.13 | $0.53 | $1.09 | $1.97 | $0.00 | $0.00 | $0.08 | $0.52 | $0.85 |
| Debt per share | $4.76 | $4.21 | $4.04 | $3.91 | $2.93 | $3.66 | $4.59 | $4.44 | $4.55 | $4.40 |
| Shares outstanding | 194.3M | 202.6M | 205.9M | 212.7M | 216.3M | 215.9M | 225.7M | 225.9M | 221.9M | 215.0M |
| Change in shares outstanding | −4.1% | −1.6% | −3.2% | −1.7% | +0.2% | −4.3% | −0.1% | +1.8% | +3.2% | +3.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 1.2% | 2.0% | 9.7% | 4.1% | 1.6% | −17.5% | 5.2% | 9.6% | 5.8% | 5.6% |
| Return on invested capital (ROIC) | 2.6% | 2.9% | 4.3% | 3.6% | −3.3% | −7.3% | 6.3% | 10.0% | 4.6% | 5.7% |
| Return on assets (ROA) | 0.8% | 1.4% | 6.6% | 2.9% | 1.1% | −11.7% | 3.4% | 6.4% | 3.8% | 3.5% |
| Return on tangible assets | 0.8% | 1.4% | 6.6% | 2.8% | 1.1% | −13.6% | 3.5% | 6.4% | 3.8% | 3.6% |
| Free cash flow margin | 8.2% | 18.8% | 20.1% | 23.0% | 5.6% | −43.6% | 26.1% | 24.7% | 16.4% | 10.4% |
| Income quality (OCF / net income) | 7.40 | 3.94 | 0.96 | 2.40 | 0.83 | — | 2.14 | 1.22 | 2.14 | 2.28 |
| Financial health | ||||||||||
| Total debt | $925.4M | $853.1M | $831.3M | $831.7M | $634.6M | $790.3M | $1.04B | $1.00B | $1.01B | $946.9M |
| Cash & short-term investments | $109.2M | $107.2M | $426.4M | $101.2M | $120.5M | $368.4M | $816.9M | $809.3M | $488.0M | $369.5M |
| Net debt | $816.2M | $745.9M | $404.9M | $730.5M | $514.1M | $421.9M | $219.5M | $194.8M | $521.6M | $577.3M |
| Debt / equity | 0.48 | 0.41 | 0.38 | 0.40 | 0.29 | 0.39 | 0.40 | 0.38 | 0.40 | 0.38 |
| Debt / assets | 0.31 | 0.27 | 0.26 | 0.27 | 0.21 | 0.26 | 0.26 | 0.25 | 0.26 | 0.25 |
| Net debt / EBITDA | 3.85 | 3.48 | 1.05 | 2.93 | 2.66 | — | 0.64 | 0.43 | 1.50 | 1.64 |
| Current ratio | 2.30 | 2.49 | 3.33 | 0.65 | 1.60 | 4.79 | 2.81 | 3.90 | 3.00 | 1.39 |
| Quick ratio | 2.19 | 2.38 | 3.27 | 0.63 | 0.93 | 4.27 | 2.66 | 3.90 | 3.00 | 1.39 |
| Interest coverage | 1.5 | 1.7 | 2.4 | 3.1 | -2.7 | -4.6 | 3.3 | 6.3 | 2.7 | 3.4 |
| Working capital | $136.5M | $140.7M | $385.6M | −$114.0M | $106.3M | $344.4M | $588.2M | $675.7M | $485.6M | $158.8M |
| Invested capital | $2.76B | $2.85B | $2.57B | $2.82B | $2.71B | $2.47B | $2.79B | $2.86B | $3.06B | $3.06B |
| Tangible asset value | $1.94B | $2.10B | $2.17B | $2.08B | $2.20B | $2.07B | $2.59B | $2.66B | $2.55B | $2.50B |
| Net current asset value | −$842.8M | −$767.2M | −$431.4M | −$784.2M | −$519.2M | −$461.2M | −$384.2M | −$353.2M | −$547.5M | −$639.8M |
| Graham number | $5.34 | $7.06 | $15.42 | $9.52 | $6.02 | — | $12.43 | $17.15 | $12.97 | $12.74 |
| Graham net-net per share | −$4.86 | −$4.27 | −$2.57 | −$4.05 | −$2.77 | −$2.30 | −$1.91 | −$1.89 | −$3.43 | −$3.76 |
| Capital allocation | ||||||||||
| Dividends paid | $86.4M | $91.0M | $59.8M | $24.8M | $13.7M | $156.3M | $170.2M | $177.6M | $163.0M | $227.5M |
| Share buybacks (net) | $108.1M | $31.4M | $59.8M | $111.8M | $202.2M | $107.9M | $54.5M | $4.2M | $3.8M | $2.6M |
| Dividend payout ratio | 351.6% | 210.3% | 28.9% | 28.4% | 39.9% | — | 125.4% | 70.9% | 112.1% | 169.5% |
| Dividends + buybacks / free cash flow | 247.1% | 71.8% | 60.4% | 65.2% | 760.9% | — | 77.2% | 63.4% | 85.2% | 186.7% |
| Capex / revenue | 10.7% | 25.3% | 11.2% | 25.5% | 83.9% | 0.0% | 0.0% | 1.6% | 9.6% | 15.3% |
| Capex / operating cash flow | 56.7% | 134.6% | 55.6% | 111.0% | 1,505.7% | — | 0.0% | 6.1% | 37.0% | 59.7% |
| Capex / depreciation | 0.77 | 1.84 | 0.87 | 1.84 | 3.32 | 0.00 | 0.00 | 0.13 | 0.72 | 1.11 |
| Stock-based compensation / revenue | 0.9% | 1.2% | 1.1% | 1.2% | 2.5% | 3.6% | 0.8% | 0.8% | 0.7% | 0.6% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 5.7% | 11.5% | 20.6% | 21.4% | 28.1% | 29.1% | 19.3% | 18.8% | 18.9% | 19.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 12.9 | 13.2 | 13.6 | 14.2 | 13.4 | 29.8 | 11.3 | 10.7 | 11.2 | 11.0 |
| Days of inventory on hand | 4.4 | 7.4 | 6.1 | 49.7 | 100.4 | 69.5 | 16.9 | 0.8 | 0.8 | 0.9 |
| Days payables outstanding | 23.1 | 38.1 | 43.7 | 47.7 | 51.3 | 52.9 | 22.7 | 20.8 | 22.1 | 21.6 |
| Cash conversion cycle (days) | -5.8 | -17.5 | -24.1 | 16.1 | 62.4 | 46.4 | 5.5 | -9.3 | -10.0 | -9.8 |
| Receivables turnover | 28.33 | 27.74 | 26.92 | 25.76 | 27.30 | 12.24 | 32.30 | 34.06 | 32.46 | 33.33 |
| Payables turnover | 15.79 | 9.57 | 8.34 | 7.65 | 7.11 | 6.90 | 16.08 | 17.56 | 16.52 | 16.89 |
| Inventory turnover | 82.85 | 49.19 | 59.57 | 7.34 | 3.64 | 5.25 | 21.58 | 455.13 | 440.29 | 427.50 |
| Asset turnover | 0.31 | 0.29 | 0.32 | 0.30 | 0.17 | 0.08 | 0.28 | 0.30 | 0.31 | 0.31 |
| Average receivables | $33.9M | $32.7M | $36.6M | $35.4M | $18.6M | $21.9M | $34.5M | $34.0M | $36.8M | $35.7M |
| Average payables | $57.9M | $50.6M | $61.1M | $60.7M | $42.5M | $36.5M | $33.0M | $31.1M | $34.0M | $33.2M |
| Average inventory | $11.0M | $9.8M | $8.6M | $63.2M | $83.1M | $47.9M | $24.6M | $1.2M | $1.3M | $1.3M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 1.4% | 0.7% | 0.8% | 1.3% | 0.9% | 1.0% |
Computed from SHO's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
SHO valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Sunstone Hotel Investors traded at 70.7 times earnings, against a 10-year median of 24.4. Based on the latest twelve months, the trailing P/E is 56.3 and the forward P/E is 555.6. Sunstone Hotel Investors earned a return on equity of 1.2% and a return on invested capital of 2.6% in fiscal 2025. It ended the year with $925.4 million of debt and $109.2 million in cash and short-term investments, net debt of $816.2 million. It returned $194.5 million to shareholders: $86.4 million in dividends and $108.1 million in share buybacks, 247% of free cash flow. The share count fell 9.6% from 215.0M to 194.3M over 9 years.
See the SHO income statement, the SHO chart for price history, or the SHO stock overview for the latest quote and news.
SHO key metrics FAQ
What is Sunstone Hotel Investors's P/E ratio?
Sunstone Hotel Investors's trailing P/E ratio is 56.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 555.6. At the end of fiscal 2025 it was 70.7, compared with a 10-year median of 24.4.
What is Sunstone Hotel Investors's EV/EBITDA?
Sunstone Hotel Investors's enterprise value was 12.0 times EBITDA at the end of fiscal 2025 (enterprise value $2.6 billion, EBITDA $212.3 million); the current EV/EBITDA is 13.5.
What is Sunstone Hotel Investors's return on equity?
Sunstone Hotel Investors's return on equity (ROE) was 1.2% in fiscal 2025: net income of $24.6 million on average shareholders' equity of $2.0 billion.
What is Sunstone Hotel Investors's ROIC?
Sunstone Hotel Investors's return on invested capital was 2.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Sunstone Hotel Investors have?
Sunstone Hotel Investors had total debt of $925.4 million at the end of fiscal 2025, a debt-to-equity ratio of 0.48 and $816.2 million of net debt (3.85 times EBITDA).
What is Sunstone Hotel Investors's dividend yield?
Sunstone Hotel Investors's forward dividend yield is 3.04%. Sunstone Hotel Investors paid $86.4 million in dividends in fiscal 2025 ($0.44 per share), a payout ratio of 351.6%.
Does Sunstone Hotel Investors buy back its shares?
Yes. Sunstone Hotel Investors spent $108.1 million on net share repurchases in fiscal 2025 Shares outstanding changed −4.1% over the year, to 194.3M..
What is Sunstone Hotel Investors's free cash flow yield?
Sunstone Hotel Investors generated $78.7 million of free cash flow in fiscal 2025, a free cash flow yield of 4.5% on its market value at year-end ($1.7 billion).
What is Sunstone Hotel Investors's current ratio?
Sunstone Hotel Investors's current ratio was 2.30 at the end of fiscal 2025: current assets were 2.30 times current liabilities.