HST Host Hotels & Resorts
too hard · 65
Owner-earnings value$25.92
Price$23.85
Margin of safety
+8.7%
Quality gate · 65/100
⚠ sub-hurdle returns (median roic 8% < 9%)
Median ROIC8.1%
Gross margin52.7%
Net debt / EBITDA2.3x
FCF conversion124%
Share count / yr-1.2%
Profitable years4/4
Moat & management
Owner-earnings inputs
| Owner earnings (TTM) | 1.02B |
| Owner-earnings yield | 6.1% |
| Free-cash-flow yield | 6.1% |
| Growth used (normalized) | 7.6% |
| Market-implied growth (reverse DCF) | 5.6% |
| Terminal growth | 3.0% |
| Discount rate (hurdle) | 10.1% |
Projected owner earnings
| Yr | Owner earnings | Growth | PV |
|---|---|---|---|
| 1 | 1.09B | 7.6% | 993.82M |
| 2 | 1.17B | 7.1% | 966.55M |
| 3 | 1.25B | 6.6% | 935.54M |
| 4 | 1.32B | 6.1% | 901.18M |
| 5 | 1.40B | 5.6% | 863.89M |
| 6 | 1.47B | 5.0% | 824.12M |
| 7 | 1.54B | 4.5% | 782.36M |
| 8 | 1.60B | 4.0% | 739.08M |
| 9 | 1.65B | 3.5% | 694.76M |
| 10 | 1.70B | 3.0% | 649.86M |
⚠ maintenance capex ≈ min(capex, D&A), capped at FCF · Price pays for ~6%/yr owner-earnings growth over 10y (reverse DCF); model credits 8%.