Braemar Hotels & Resorts Inc. Financial Ratios — BHR-PB

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	-1.07	-1.3	0.18	-0.52	1.48	1.72	0.09	0.02	-6.13	-1.5	0.83	-1.17	-0.08	-1.12
Return on Capital (%)	- -	-74.73	- -	4.05	- -	6.4	- -	2.72	2.25	- -	- -	5.82	- -	9.98	- -
Return on Invested Capital (%)	- -	-49.6	- -	3.3	- -	3.79	- -	1.84	1.1	- -	- -	3.25	- -	2.55	- -
Gross Margin (%)	33.23	32.64	32.27	29.14	27.31	26.56	27.05	26.13	23.68	-4.39	19.38	24.57	22.79	21.1	21.08
EBITDA Margin (%)	28.12	27.64	27.25	28.02	25.81	23.06	25.12	25.19	22.7	-6.96	17.47	21.94	21.02	19.19	19.47
Operating Margin (%)	12.7	14.38	14.13	14.85	13.31	11.73	12.46	11.85	8.19	-39.65	0.09	10.2	8.34	5.57	6.26
Incremental Operating Margin (%)	- -	25.44	9.6	17.12	2.11	1.92	48.62	-2.77	-19.86	- -	45.07	28.04	-9.47	192.78	-14.24
Pretax Margin (%)	1.18	0.27	-6.67	1.51	-1.27	6.38	6.71	1.16	0.61	-56.87	-7.39	3.49	-3.78	2.83	-3.75
Profit Margin (%)	0.33	-2.05	-5.05	0.63	-1.92	4.76	5.56	0.31	0.08	-46.38	-6.24	2.65	-3.65	-0.23	-3.17
Net Income to Common Margin (%)	0.33	-2.05	-5.05	0.63	-2.49	3.81	3.92	-1.36	-2	-50.88	-8.28	-1.6	-10.01	-6.99	-10.33
Effective Tax Rate (%)	115.97	741.79	- -	23.67	- -	6.08	- -	48.48	59.59	- -	- -	17.28	- -	4.09	- -
Dvd Payout Ratio (%)	-1,624.48	-791.45	-355.99	124.63	-211.19	51.13	75.68	-689.21	-286.5	-3.85	-0.72	102.29	-6.82	-28.69	3.59
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	571	622	762	836	765	1,021	986	1,120	1,234	1,234	1,395	1,223	1,230	1,124
ST Debt	- -	- -	- -	- -	80	374	200	229	42	42	- -	- -	- -	- -	- -
LT Debt	- -	571	622	762	756	391	821	757	1,077	1,192	1,234	1,395	1,223	1,230	1,124
Total Debt/EBITDA	- -	9.34	9.77	8.85	9.26	8.17	9.82	9.07	10.11	-78.13	16.52	9.5	7.87	8.8	8.2
Net Debt/EBITDA	- -	9	7.51	6.86	8.1	6.81	8.49	7.39	8.91	-69.29	12.81	7.3	6.93	7.69	7.14
Total Debt/EBIT	- -	17.95	18.85	16.7	17.96	16.06	19.79	19.29	28.03	-13.71	3,091.77	20.43	19.83	30.31	25.5
Net Debt/EBIT	- -	17.31	14.49	12.94	15.71	13.4	17.13	15.72	24.7	-12.16	2,397.69	15.71	17.46	26.48	22.22
EBITDA to Interest Expense	1.7	1.96	1.93	2.21	2.39	2.29	2.67	2.19	2.03	-0.35	2.42	2.82	1.65	1.29	1.39
EBITDA-CapEx/Interest Expense	1.7	1.96	1.07	2.21	2.39	2.29	2.67	2.19	2.03	-0.35	2.42	2.82	1.65	1.29	1.34
EBIT to Interest Expense	0.77	1.02	1	1.17	1.23	1.16	1.32	1.03	0.73	-2	0.01	1.31	0.65	0.38	0.45
Interest Expense	32	31	33	39	38	41	39	50	55	45	31	52	94	108	99
Common Equity/Total Assets	- -	-3.84	-10.48	-7.99	-7.35	-7.4	-6.21	-7.03	-8.54	-15.87	-16.42	-13.51	-18.48	-22.34	-30.5
Long-Term Debt/Equity (%)	- -	226.17	205.16	179.65	191.37	107.59	194	173.19	266.07	412.54	294.85	321.15	370.06	460.11	703.15
Long-Term Debt/Capital (%)	- -	103.63	91.71	94.17	88.44	49.32	84.25	83.14	107.19	121.46	130.6	127.38	146.49	157.8	194.78
Long-Term Debt/Total Assets (%)	- -	67.37	64.62	62.13	55.86	31.07	57.66	46.24	61.24	71.18	65.63	58.17	54.91	57.58	60.35
Total Debt/Equity (%)	- -	226.17	205.16	179.65	211.63	210.65	241.28	225.62	276.57	427.25	294.85	321.15	370.06	460.11	703.15
Total Debt/Capital (%)	- -	103.63	91.71	94.17	97.81	96.57	104.78	108.3	111.42	125.8	130.6	127.38	146.49	157.8	194.78
Total Debt/Total Assets (%)	- -	67.37	64.62	62.13	61.77	60.83	71.71	60.24	63.65	73.72	65.63	58.17	54.91	57.58	60.35
Net Debt to Equity	- -	218.12	157.72	139.22	185.03	175.72	208.79	183.83	243.68	378.95	228.66	246.96	325.88	401.96	612.77
Net Debt/Capital (%)	- -	103.77	89.48	92.61	97.5	95.92	105.57	110.39	105.75	121.29	131.31	128.69	143.74	166.85	216.4
EBITDA	54	61	64	86	90	94	104	109	111	-16	75	147	155	140	137
EBITDA-CapEx	54	61	35	86	90	94	104	109	111	-16	75	147	155	140	132
Operating Income (Loss)	24	32	33	46	47	48	52	51	40	-90	- -	68	62	41	44

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	1.09	4.46	4.89	0.78	0.29	2.01	0.59	0.47	1.14	2.15	1.7	0.53	0.85	0.66
Current Ratio	- -	3.69	5.77	6.57	1.3	0.48	3.32	0.92	1.14	2.14	3.22	2.64	1.47	1.61	1.36
Quick Ratio	- -	2.7	5.51	5.64	1.02	0.38	2.54	0.65	0.71	1.54	2.67	2.21	0.88	1.24	0.98
CFO/Avg Current Liab	- -	2.98	1.34	1.63	0.11	0.21	0.28	0.38	0.29	-0.45	0.76	0.86	0.53	0.41	0.23
Common Equity/Total Assets	- -	-3.84	-10.48	-7.99	-7.35	-7.4	-6.21	-7.03	-8.54	-15.87	-16.42	-13.51	-18.48	-22.34	-30.5
Long-Term Debt/Equity (%)	- -	226.17	205.16	179.65	191.37	107.59	194	173.19	266.07	412.54	294.85	321.15	370.06	460.11	703.15
Long-Term Debt/Capital (%)	- -	103.63	91.71	94.17	88.44	49.32	84.25	83.14	107.19	121.46	130.6	127.38	146.49	157.8	194.78
Long-Term Debt/Total Assets (%)	- -	67.37	64.62	62.13	55.86	31.07	57.66	46.24	61.24	71.18	65.63	58.17	54.91	57.58	60.35
Total Debt/Equity (%)	- -	226.17	205.16	179.65	211.63	210.65	241.28	225.62	276.57	427.25	294.85	321.15	370.06	460.11	703.15
Total Debt/Capital (%)	- -	103.63	91.71	94.17	97.81	96.57	104.78	108.3	111.42	125.8	130.6	127.38	146.49	157.8	194.78
Total Debt/Total Assets (%)	- -	67.37	64.62	62.13	61.77	60.83	71.71	60.24	63.65	73.72	65.63	58.17	54.91	57.58	60.35
CFO/Total Liabilities	- -	4.68	5.17	6.84	0.94	6.56	7.06	5.9	4.89	-3.63	4.38	5.58	4.47	3.58	2.4
CFO/CapEx	- -	- -	1.2	- -	- -	- -	- -	- -	- -	- -	- -	- -	1,129.48	- -	7.4
Altman's Z-Score	- -	0.4	0.4	0.45	0.31	0.13	0.46	0.25	0.25	-0.21	0.14	0.31	0.21	0.15	0.07

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	75.08	36.14	31.66	27.15	25.72	25.46	31.87	30.68	13.92	22.95	17.82	16.31	20.53	21.8
Days Sales Outstanding	- -	4.86	10.1	11.53	13.45	14.19	14.34	11.45	11.9	26.22	15.9	20.48	22.38	17.78	16.75
Inventory Turnover	- -	980.18	508.53	429.5	236.68	203.46	208.04	193.9	159.85	88.66	121.38	120.75	111.49	118.9	118.16
Days Inventory Outstanding	- -	0.37	0.72	0.85	1.54	1.79	1.75	1.88	2.28	4.12	3.01	3.02	3.27	3.07	3.09
Accounts Payable Turnover	- -	16.49	8.94	9.37	7	6.75	5.95	5.28	4.69	3.02	4.37	4.4	4.02	3.91	3.89
Accounts Payable Turnover Days	- -	22.14	40.83	38.95	52.17	54.09	61.39	69.15	77.8	120.8	83.56	82.86	90.78	93.23	93.82
Cash Conversion Cycle	- -	-16.9	-30.02	-26.57	-37.18	-38.11	-45.3	-55.82	-63.62	-90.46	-64.65	-59.36	-65.13	-72.39	-73.99
Inventory to Cash Days	- -	4.49	9.38	10.68	11.9	12.4	12.58	9.57	9.62	22.1	12.9	17.46	19.1	14.71	13.66
Inventories	- -	- -	- -	1	1	1	1	2	3	3	3	5	5	5	5
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	1	1	1	1	2	3	3	3	5	5	5	5

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	- -	20	144	171	105	127	138	183	72	79	216	262	86	135	124
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	62	66	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	13	157	145	56	54	42	39	36	13	20	24	23	27	21
+ Total Debt	- -	571	622	762	836	765	1,021	986	1,120	1,234	1,234	1,395	1,223	1,230	1,124
Enterprise Value	- -	563	635	735	849	758	925	843	1,083	1,168	1,037	1,158	1,161	1,121	1,020
Total Capital	- -	551	678	809	854	792	974	910	1,005	981	945	1,095	835	779	577
Total Debt/Capital (%)	- -	103.63	91.71	94.17	97.81	96.57	104.78	108.3	111.42	125.8	130.6	127.38	146.49	157.8	194.78
Total Debt / EV	- -	1.01	0.98	1.04	0.98	1.01	1.1	1.17	1.03	1.06	1.19	1.21	1.05	1.1	1.1
EV/Sales	- -	2.55	2.72	2.39	2.43	1.87	2.23	1.95	2.22	5.15	2.43	1.73	1.57	1.54	1.45
EV/EBITDA	- -	9.21	9.98	8.54	9.41	8.1	8.9	7.75	9.78	- -	13.89	7.88	7.47	8.02	7.44
EV/EBIT	- -	17.7	19.26	16.12	18.25	15.92	17.94	16.49	27.12	- -	2,599.43	16.95	18.82	27.62	23.16
EV/Cash Flow to Firm	- -	- -	8.82	8.69	17.3	7.81	8.39	8.75	12.27	- -	10.79	7.58	6.17	6.57	6.96
EV/Free Cash Flow to Firm	- -	- -	6.33	8.69	17.3	7.81	8.39	8.75	12.27	- -	10.79	7.58	6.17	6.57	6.7
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	- -	563	635	735	849	758	925	843	1,083	1,168	1,037	1,158	1,161	1,121	1,020
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	192	221	233	307	350	406	414	431	488	227	428	670	739	728	704
TTM EBITDA	54	61	64	86	90	94	104	109	111	-16	75	147	155	140	137
TTM Operating Income	24	32	33	46	47	48	52	51	40	-90	- -	68	62	41	44
TTM Cash Flow to Firm	10	-173	72	85	49	97	110	96	88	-7	96	153	188	171	147
TTM Free Cash Flow to Firm	10	-173	100	85	49	97	110	96	88	-7	96	153	188	171	152

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	17.7	19.26	16.12	18.25	15.92	17.94	16.49	27.12	- -	2,599.43	16.95	18.82	27.62	23.16
Enterprise Value	- -	563	635	735	849	758	925	843	1,083	1,168	1,037	1,158	1,161	1,121	1,020
Low Price	- -	- -	- -	- -	- -	17.49	17.92	15.72	16.59	3.46	15.35	13.46	10.58	12.08	11.01
EV/Sales	- -	2.55	2.72	2.39	2.43	1.87	2.23	1.95	2.22	5.15	2.43	1.73	1.57	1.54	1.45
EV/EBITDA	- -	9.21	9.98	8.54	9.41	8.1	8.9	7.75	9.78	- -	13.89	7.88	7.47	8.02	7.44
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Average	- -	2.55	2.72	2.39	2.43	1.87	2.23	1.95	2.22	5.15	2.43	1.73	1.57	1.54	1.45
EV/Sales High	- -	2.55	2.72	2.39	2.43	1.87	2.23	1.95	2.22	5.15	2.43	1.73	1.57	1.54	1.45
EV/Sales Low	- -	2.55	2.72	2.39	2.43	1.87	2.23	1.95	2.22	5.15	2.43	1.73	1.57	1.54	1.45
EV/EBITDA Average	- -	9.21	9.98	8.54	9.41	8.1	8.9	7.75	9.78	-73.95	13.89	7.88	7.47	8.02	7.44
EV/EBITDA High	- -	9.21	9.98	8.54	9.41	8.1	8.9	7.75	9.78	-73.95	13.89	7.88	7.47	8.02	7.44
EV/EBITDA Low	- -	9.21	9.98	8.54	9.41	8.1	8.9	7.75	9.78	-73.95	13.89	7.88	7.47	8.02	7.44
EV/EBIT Average	- -	17.7	19.26	16.12	18.25	15.92	17.94	16.49	27.12	-12.98	2,599.43	16.95	18.82	27.62	23.16
EV/EBIT High	- -	17.7	19.26	16.12	18.25	15.92	17.94	16.49	27.12	-12.98	2,599.43	16.95	18.82	27.62	23.16
EV/EBIT Low	- -	17.7	19.26	16.12	18.25	15.92	17.94	16.49	27.12	-12.98	2,599.43	16.95	18.82	27.62	23.16
Last Price	- -	- -	- -	- -	- -	21.54	19.99	17.16	19	16.25	20.8	15.59	13.94	13.75	14.81
High Price	- -	- -	- -	- -	- -	25.42	22.51	20.52	20.9	19.25	24.99	20.99	18.88	17	16.6
Enterprise Value Average	- -	563	635	735	849	758	925	843	1,083	1,168	1,037	1,158	1,161	1,121	1,020
Enterprise Value High	- -	563	635	735	849	758	925	843	1,083	1,168	1,037	1,158	1,161	1,121	1,020
Enterprise Value Low	- -	563	635	735	849	758	925	843	1,083	1,168	1,037	1,158	1,161	1,121	1,020

Shares Outstanding	- -	16	16	24	28	26	32	33	33	38	65	70	67	67	68
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash & Equivalents per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Tangible Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Braemar Hotels & Resorts Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)