Pebblebrook Hotel Trust key statistics and ratios

In fiscal 2025, Pebblebrook Hotel Trust had return on equity of -2.5%, an operating margin of 3.0% and debt equal to 86.9% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Pebblebrook Hotel Trust: financial ratios, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Gross margin	40.7%	39.2%	38.2%	—	—	—	—	—	—	—	—
Operating margin	22.0%	17.6%	8.1%	14.2%	−66.1%	−12.2%	1.1%	2.7%	5.8%	3.0%	3.1%
Net margin	9.0%	13.0%	1.6%	7.2%	−88.4%	−25.2%	−6.3%	−5.5%	−0.3%	−4.5%	−4.6%
Free-cash-flow margin	29.4%	25.2%	16.4%	24.5%	−45.6%	—	—	2.5%	10.1%	10.3%	14.6%
Return on equity	4.6%	6.4%	0.5%	3.1%	−11.4%	−5.8%	−2.8%	−2.7%	−0.2%	−2.5%	−2.9%
Return on assets	2.6%	3.7%	0.3%	1.7%	−6.2%	−3.0%	−1.4%	−1.3%	−0.1%	−1.2%	−1.3%
Asset turnover	0.29	0.28	0.17	0.24	0.07	0.12	0.22	0.24	0.25	0.27	0.29
Debt to equity	62.3%	59.4%	73.5%	61.9%	74.1%	77.8%	80.1%	84.3%	83.9%	86.9%	90.3%
Interest cover (operating income ÷ interest)	4.1x	3.6x	1.2x	2.1x	n/m	n/m	0.1x	0.3x	0.7x	0.4x	0.4x
Effective tax rate	−0.2%	0.2%	11.5%	4.3%	—	—	—	—	—	—	—
Capital spending as % of revenue	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	14.1%	8.9%	6.6%	4.4%
Free cash flow ÷ net income	325.5%	193.8%	>999%	341.7%	—	—	—	—	—	—	—
Dividends ÷ net income	142.9%	107.4%	789.4%	160.1%	—	—	—	—	—	—	—
Dividends and buybacks ÷ free cash flow	44.9%	105.0%	79.9%	47.9%	—	—	—	274.8%	14.8%	50.8%	21.1%

US$ thousands unless shown otherwise. Fiscal quarters.

Pebblebrook Hotel Trust: financial ratios, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Operating margin	−6.7%	−2.3%	12.9%	−2.6%	2.5%	2.3%	14.1%	−6.9%
Net margin	−15.0%	−10.3%	4.4%	−8.3%	−5.1%	−5.6%	5.8%	−13.6%
Free-cash-flow margin	12.3%	9.3%	15.1%	14.1%	1.3%	20.9%	18.1%	17.2%
Debt to equity	83.3%	85.3%	85.2%	89.1%	86.0%	85.3%	86.0%	89.4%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

45 /100

Moderate moat

How hard Pebblebrook Hotel Trust's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 0 / 20

Net income has been a median -1.3% of total assets over 10 years.
Durability 0 / 20

Operating margin has been a median 3.0%; its worst year was -37.5%.
Cash conversion 16 / 20

Free cash flow was positive in 5 of 6 years, at a median 15.5% of revenue.
Discipline 20 / 20

The diluted share count fell 11.0% over five years; stock-based pay has been a median 0.9% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Pebblebrook Hotel Trust's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Pebblebrook Hotel Trust.