Sunstone Hotel Investors, Inc. Financial Ratios — SHO/PH

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 (%)	5.66	1.68	3.18	3.71	15.77	5.28	5.72	9.87	5.06	-19.68	0.72	3.93	10.45	1.51	0.49
Return on Assets (%)	2.93	1.53	1.98	2.19	8.93	3.53	3.83	6.4	3.44	-11.72	1.14	2.85	6.63	1.38	0.8
Return on Capital (%)	5.86	2.82	3.54	4.08	11.31	- -	- -	7.84	- -	- -	2.34	3.99	8.61	- -	2.52
Return on Invested Capital (%)	1.68	1.35	2.25	4.4	4.99	- -	- -	8.09	- -	- -	2.22	4.04	8.33	- -	2.26
Gross Margin (%)	50.76	51.5	51.31	52.14	52.62	52.91	53.01	52.86	52.4	6.05	40.62	49.08	48.35	46.56	46.03
EBITDA Margin (%)	24.46	27.43	26.1	27.75	27.8	29.64	25.14	38.43	29.42	-80.77	37.91	26.78	38.46	22.48	20.97
Operating Margin (%)	7.42	9.53	10.74	13.73	14.44	14.33	15.17	15.81	14.53	-92.18	-16.78	10.89	12.03	8.68	7.89
Incremental Operating Margin (%)	12.59	23.74	21.31	26.38	22.11	16.75	247.63	- -	48.3	48.28	66.95	45.86	25.95	49.66	- -
Pretax Margin (%)	5.66	0.28	3.22	7.29	27.3	11.78	11.58	22.5	12.79	-150.77	6.5	9.99	21.42	4.65	2.58
Profit Margin (%)	11.22	5.76	7.14	7.11	27.81	11.28	12.18	21.61	12.17	-151.06	6.74	9.57	20.95	4.78	2.56
Net Income to Common Margin (%)	7.44	2.18	5.08	6.31	27.07	9.94	11.1	20.5	11.02	-155.85	2.68	8.01	19.54	3.09	0.88
Effective Tax Rate (%)	- -	50.02	27.39	0.21	0.42	- -	- -	0.68	- -	- -	0.33	0.39	2.16	- -	0.87
Dvd Payout Ratio (%)	-16.62	- -	128.51	47.95	20.19	161.23	106.66	64.66	114.82	-33.42	-62.83	13.22	23.78	270.16	830.96
Sustainable Growth Rate (%)	6.6	1.68	-0.91	1.93	12.59	-3.23	-0.38	3.49	-0.75	-26.26	1.18	3.41	7.96	-2.57	-3.55

Credit (USD)

Credit Ratios API ChatGPT

	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	1,417	1,379	1,420	1,437	1,112	947	1,010	1,004	1,036	790	635	832	831	853	925
ST Debt	50	77	23	120	86	185	5	6	82	2	21	220	74	- -	- -
LT Debt	1,367	1,302	1,396	1,318	1,026	762	1,004	998	954	788	614	612	757	853	925
Total Debt/EBITDA	8.02	6.06	5.89	4.54	3.2	2.69	3.36	2.25	3.16	-3.65	3.29	3.41	2.19	4.19	4.6
Net Debt/EBITDA	7.18	5.3	5.39	3.79	1.72	1.59	1.65	0.38	0.47	-1.74	2.53	2.91	1.02	3.6	4.02
Total Debt/EBIT	33.2	17.45	14.31	9.17	6.16	5.01	7.16	3.36	5.75	-2.24	9.86	7.05	3.29	10.78	13.86
Net Debt/EBIT	29.71	15.27	13.1	7.65	3.31	2.98	3.51	0.56	0.86	-1.06	7.6	6.04	1.54	9.28	12.11
EBITDA to Interest Expense	2.58	3.13	3.45	4.52	5.22	7.33	6.08	9.95	6.38	-4.31	6.09	7.7	7.75	4.28	4.09
EBITDA-CapEx/Interest Expense	-0.62	3.13	3.45	4.52	5.22	7.28	6.08	9.54	6.38	-4.31	6.09	7.7	7.75	4.28	4.09
EBIT to Interest Expense	0.78	1.09	1.42	2.24	2.71	3.54	3.67	4.1	3.15	-4.92	-2.69	3.13	2.42	1.65	1.54
Interest Expense	68	73	70	70	67	48	49	45	51	50	32	32	49	48	49
Common Equity/Total Assets	31.41	37.39	50.83	53.65	56.55	61.32	60.75	62.26	60.85	62.25	63.06	58.51	59.87	58.67	54.97
Long-Term Debt/Equity (%)	95.94	80.42	71.52	58.08	43.66	30.09	38.89	36.82	36.41	37.72	27.41	29.34	34.95	40.54	47.59
Long-Term Debt/Capital (%)	48.11	43.43	41.41	35.55	29.64	21.9	27.96	26.87	26.09	27.37	21.36	20.97	25.26	28.85	32.24
Long-Term Debt/Total Assets (%)	44.09	41.52	39.8	33.64	26.56	20.38	26.03	25.13	24.35	26.39	20.19	19.84	24.04	27.46	30.55
Total Debt/Equity (%)	99.41	85.16	72.71	63.35	47.3	37.4	39.1	37.03	39.54	37.83	28.33	39.89	38.37	40.54	47.59
Total Debt/Capital (%)	49.85	45.99	42.1	38.78	32.11	27.22	28.11	27.03	28.34	27.44	22.08	28.52	27.73	28.85	32.24
Total Debt/Total Assets (%)	45.69	43.96	40.46	36.69	28.77	25.32	26.17	25.27	26.44	26.47	20.87	26.98	26.4	27.46	30.55
Net Debt to Equity	88.94	74.49	66.57	52.88	25.41	22.19	19.16	6.19	5.88	18.01	21.83	34.12	17.92	34.88	41.6
Net Debt/Capital (%)	47.07	42.45	39.77	34.43	20.16	18.07	15.94	5.77	5.43	14.99	17.76	25.27	15.09	25.75	29.3
EBITDA	177	227	241	317	347	352	300	445	328	-216	193	244	379	204	201
EBITDA-CapEx	-42	227	241	317	347	350	300	427	328	-216	193	244	379	204	201
Operating Income (Loss)	54	79	99	157	180	170	181	183	162	-247	-85	99	119	79	76

Liquidity (USD)

Liquidity Ratios API ChatGPT

	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	0.49	0.75	0.79	0.71	1.07	0.86	1.86	3.29	2.51	4.06	0.69	0.31	2.47	1.13	1.04
Current Ratio	1.74	1.95	1.8	1.14	1.32	1.32	2.78	3.7	2.81	4.79	1.6	0.65	3.14	2.49	2.3
Quick Ratio	0.59	0.88	1.01	0.82	1.13	0.95	1.99	3.43	2.62	4.15	0.85	0.44	2.65	1.49	1.36
CFO/Avg Current Liab	0.77	0.67	1	1.27	0.79	0.64	0.89	1.2	1.02	-0.56	0.21	0.83	0.79	1.28	1.82
Common Equity/Total Assets	31.41	37.39	50.83	53.65	56.55	61.32	60.75	62.26	60.85	62.25	63.06	58.51	59.87	58.67	54.97
Long-Term Debt/Equity (%)	95.94	80.42	71.52	58.08	43.66	30.09	38.89	36.82	36.41	37.72	27.41	29.34	34.95	40.54	47.59
Long-Term Debt/Capital (%)	48.11	43.43	41.41	35.55	29.64	21.9	27.96	26.87	26.09	27.37	21.36	20.97	25.26	28.85	32.24
Long-Term Debt/Total Assets (%)	44.09	41.52	39.8	33.64	26.56	20.38	26.03	25.13	24.35	26.39	20.19	19.84	24.04	27.46	30.55
Total Debt/Equity (%)	99.41	85.16	72.71	63.35	47.3	37.4	39.1	37.03	39.54	37.83	28.33	39.89	38.37	40.54	47.59
Total Debt/Capital (%)	49.85	45.99	42.1	38.78	32.11	27.22	28.11	27.03	28.34	27.44	22.08	28.52	27.73	28.85	32.24
Total Debt/Total Assets (%)	45.69	43.96	40.46	36.69	28.77	25.32	26.17	25.27	26.44	26.47	20.87	26.98	26.4	27.46	30.55
CFO/Total Liabilities	9.26	11.3	10.99	17.13	20.43	23.84	24.05	24.2	22.41	-13.02	3.54	20.98	20.16	16.99	16.76
CFO/CapEx	0.71	- -	- -	- -	- -	117.61	- -	16.46	11,636.8	-1,144.17	- -	- -	- -	- -	- -
Altman's Z-Score	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Working Capital (USD)

Working Capital Ratios API ChatGPT

	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	29.97	29	32.17	35.59	37.71	33.33	32.46	34.06	32.3	12.24	27.3	25.76	26.92	27.74	28.33
Days Sales Outstanding	12.18	12.59	11.35	10.25	9.68	10.95	11.25	10.72	11.3	29.82	13.37	14.17	13.56	13.16	12.88
Inventory Turnover	185.9	310.84	316.64	376.53	417.66	427.5	440.29	455.13	- -	- -	- -	- -	59.57	49.19	46.94
Days Inventory Outstanding	1.96	1.17	1.15	0.97	0.87	0.85	0.83	0.8	- -	- -	- -	- -	6.13	7.42	7.78
Accounts Payable Turnover	13.06	16.94	18.84	18.95	18.86	16.89	16.52	17.55	- -	- -	- -	- -	8.36	9.6	8.96
Accounts Payable Turnover Days	27.95	21.55	19.38	19.27	19.36	21.61	22.09	20.8	- -	- -	- -	- -	43.64	38.02	40.72
Cash Conversion Cycle	-13.81	-7.79	-6.88	-8.04	-8.8	-9.81	-10.02	-9.28	- -	- -	- -	- -	-23.95	-17.44	-20.07
Inventory to Cash Days	10.22	11.41	10.19	9.29	8.81	10.1	10.42	9.91	- -	- -	- -	- -	7.43	5.74	5.11
Inventories	1	1	1	1	1	1	1	1	- -	- -	- -	8	9	10	12
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	1	1	1	1	1	1	1	1	- -	- -	- -	8	9	10	12

Enterprise Value (USD)

Enterprise Value API ChatGPT

	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	149	157	104	222	499	370	488	809	817	368	120	101	426	107	109
+ Preferred Equity and Hybrid Capital	391	391	115	115	115	190	190	190	190	190	281	281	281	281	280
+ Minority/Non Controlling Interest	60	55	54	52	50	49	48	48	46	41	41	- -	- -	- -	- -
+ Total Debt	1,417	1,379	1,420	1,437	1,112	947	1,010	1,004	1,036	790	635	832	831	853	925
Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Capital	2,842	2,998	3,372	3,706	3,463	3,479	3,592	3,715	3,657	2,880	2,874	2,917	2,998	2,957	2,870
Total Debt/Capital (%)	49.85	45.99	42.1	38.78	32.11	27.22	28.11	27.03	28.34	27.44	22.08	28.52	27.73	28.85	32.24
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	722	829	924	1,142	1,249	1,189	1,194	1,159	1,115	268	509	912	986	906	960
TTM EBITDA	177	227	241	317	347	352	300	445	328	-216	193	244	379	204	201
TTM Operating Income	54	79	99	157	180	170	181	183	162	-247	-85	99	119	79	76
TTM Cash Flow to Firm	224	208	222	352	376	- -	- -	350	- -	- -	60	241	246	- -	230
TTM Free Cash Flow to Firm	5	208	222	352	376	- -	- -	331	- -	- -	60	241	246	- -	230

Multiples (USD)

Valuation Multiples API ChatGPT

	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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	24.91	18.57	19	20	19.14
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	25.58	19.4	21.75	22.39	19.95
High Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	28.5	26.56	23.34	24.27	22.76
Enterprise Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Sunstone Hotel Investors, Inc.

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