Sunstone Hotel Investors, Inc. (SHO)

Sunstone Hotel Investors Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	92.69	24.57	43.26	206.71	87.29	34.3
Depreciation & Amortization	132.9	134.51	124.51	127.01	126.34	128.68
Other Amortization	4.14	3.8	3.05	2.7	2.49	2.93
Gain (Loss) on Sale of Assets	-31.49	8.75	-0.46	-123.82	-22.95	-152.44
Asset Writedown	1.64	-	-	-	3.47	2.69
Stock-Based Compensation	9.42	8.7	10.46	10.78	10.89	12.79
Change in Accounts Receivable	-11.08	0	-0.17	10.61	-12.74	-20.52
Change in Accounts Payable	10.5	2.36	-6.66	-20.84	12.74	25.64
Change in Other Net Operating Assets	-1.81	-1.38	-3.06	-1.97	3.05	-1.36
Other Operating Activities	-9.92	0.01	-1.03	-13.41	-2.15	-4.65
Operating Cash Flow	197.81	181.76	170.38	198.13	209.38	28.37
Operating Cash Flow Growth	12.63%	6.68%	-14.01%	-5.37%	638.05%	-

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Acquisition of Real Estate Assets	-105.92	-104.32	-386.71	-110.13	-361.08	-427.16
Sale of Real Estate Assets	270.81	46.35	-	364.49	191.29	183.55
Net Sale / Acq. of Real Estate Assets	164.89	-57.97	-386.71	254.36	-169.79	-243.61
Other Investing Activities	10.88	9.17	0.43	3.72	4.07	3.92
Investing Cash Flow	175.76	-48.8	-386.28	258.08	-165.72	-239.69

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	50	-	-	230	110
Long-Term Debt Issued	-	149.6	100	225	243.62	-
Total Debt Issued	115	199.6	100	225	473.62	110
Short-Term Debt Repaid	-	-50	-	-	-230	-110
Long-Term Debt Repaid	-	-64.6	-74.05	-222.09	-38.92	-79.88
Total Debt Repaid	-90	-114.6	-74.05	-222.09	-268.92	-189.88
Net Debt Issued (Repaid)	25	85	25.95	2.91	204.7	-79.88
Issuance of Common Stock	-	-	-	-	-	38.44
Repurchase of Common Stock	-149.32	-106.87	-31.4	-59.75	-111.79	-4.88
Preferred Stock Issued	-	-	-	-	-	215
Preferred Share Repurchases	-44.31	-1.27	-	-	-	-190
Preferred Dividends Paid	-	-	-	-	-	-13.69
Common & Preferred Dividends Paid	-84.38	-86.39	-90.97	-59.83	-24.82	-
Total Dividends Paid	-84.38	-86.39	-90.97	-59.83	-24.82	-13.69
Other Financing Activities	-0.25	-17.98	-1.11	-3.06	-117.26	-7.09

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Cash Flow	120.32	5.44	-313.42	336.49	-5.51	-253.42

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Levered Free Cash Flow	146.81	167.92	140.01	183.98	173.03	44.67
Unlevered Free Cash Flow	172.36	197.22	168.3	213.58	190.55	61.06

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	51.27	48.82	48.86	49.3	31.66	31.43
Cash Income Tax Paid	0.43	-1.4	3.14	1.73	0.71	0.04
Change in Working Capital	-2.39	0.98	-9.88	-12.2	3.05	3.76

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Sep 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 11, 2026

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