BRAEMAR HOTELS & RESORTS INC.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-22.3M | $-1.7M | $-27.0M | $17.8M | $-26.7M | $-105.3M | $371.0K | $1.3M |
| Depreciation & Amortization | $92.6M | $98.7M | $93.3M | $78.1M | $73.8M | $73.4M | $70.1M | $57.4M |
| Depreciation | $92.1M | $98.2M | $92.6M | $78.0M | $73.0M | $72.8M | $69.5M | $56.8M |
| Amortization | — | — | — | — | — | — | $651.0K | $194.0K |
| Stock-Based Compensation | $-446.0K | $2.6M | $9.2M | $11.3M | $10.2M | $7.9M | $7.9M | $7.0M |
| Net Cash from Operating Activities | $40.8M | $66.8M | $84.7M | $109.5M | $64.0M | $-50.3M | $66.3M | $70.7M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | $0 | $354.4M | $17.6M | $0 | — | — |
| Business Acquisitions | — | $0 | $0 | $354.4M | $17.6M | $0 | $111.8M | $185.0M |
| Net Cash from Investing Activities | $209.6M | $35.5M | $-77.1M | $-402.2M | $-41.7M | $-16.5M | $-226.4M | $-166.8M |
| Financing Activities | ||||||||
| Dividends Paid | $47.3M | $51.6M | $52.6M | $20.8M | $9.1M | $16.2M | $33.4M | $30.3M |
| Stock Repurchases | $778.0K | $369.0K | $19.3M | $7.4M | $376.0K | $263.0K | $384.0K | $323.0K |
| Net Cash from Financing Activities | $-268.6M | $-83.8M | $-156.8M | $345.1M | $128.0M | $49.6M | $32.1M | $169.2M |
| Net Change in Cash | $-18.2M | $18.6M | $-149.2M | $52.3M | $150.2M | $-17.2M | $-128.1M | $73.1M |
| Free Cash Flow | — | — | $84.7M | $-245.0M | $46.3M | $-50.3M | — | — |