The company maintains a conservative financial structure with a debt-to-equity ratio of 0.56 as of 2025Q4, though liquidity remains thin with only $39.4M in cash and equivalents.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|
| Total Assets | 4.89B | 4.9B | 4.97B | 4.94B | 4.77B | 4.79B | 4.83B | 4.94B | 4.93B | 4.9B | 4.98B | 3.72B | 3.78B | 1.49B | 1.53B | 1.7B | 1.75B | 982.5M | 431.6M |
| Asset Growth % | -7.49% | -1.36% | 0.66% | 3.45% | -0.37% | -0.81% | -2.28% | 0.28% | 0.54% | -1.56% | 33.77% | -1.51% | 153.46% | -2.28% | -10.29% | -2.58% | 77.7% | 127.64% | - |
| Real Estate & Other Assets | 0 | 12.41M | 4.87B | 4.84B | 4.69B | 4.71B | 4.77B | 4.87B | 4.87B | 4.84B | 4.88B | 3.68B | 15.63M | 8.14M | 18.07M | 1.66B | 1.5B | -687.5M | -346.4M |
| PP&E (Net) | 0 | 23.26M | 0 | 0 | 0 | 0 | 0 | 0 | 4.82B | 4.79B | 4.82B | 3.64B | 3.49B | 1.44B | 1.46B | 0 | 0 | 687.5M | 346.4M |
| Investment Securities | 0 | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 0 | 1000K | 1000K | 0 | 0 | 0 | 0 |
| Total Current Assets | 7.84M | 72.87M | 95.6M | 95.34M | 86.84M | 80M | 61.82M | 73.68M | 62.72M | 61.25M | 99.89M | 47.39M | 250.99M | 37.94M | 42.15M | 40.34M | 243.09M | 272.91M | 75.19M |
| Cash & Equivalents | 7.84M | 39.42M | 10.25M | 10.29M | 4.08M | 3.28M | 5.56M | 0 | 33.63M | 29.79M | 29.43M | 22.65M | 0 | 18.1M | 9.03M | 30.73M | 224.11M | 272.9M | 75.2M |
| Receivables | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 0 | 0 | 50.83M | 48.61M | 39.44M | 36.67M | 34.13M | 46.75M | 0 | 0 | 39M | 22.65M | 228.11M | 9.42M | 0 | 0 | 0 | -2.59M | -1.81M |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26.2M | 27.3M | 28.4M | 19.4M | 20.3M | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 1.77B | 1.75B | 1.7B | 1.61B | 1.59B | 1.64B | 1.8B | 1.65B | 1.52B | 1.33B | 1.46B | 1.08B | 765.13M | 179.47M | 179.88M | 137.38M | 111.9M | 65.1M | 41.9M |
| Total Debt | 110.94M | 1.77B | 1.58B | 1.48B | 1.48B | 1.55B | 1.7B | 1.54B | 1.41B | 1.22B | 1.34B | 998.1M | 709.57M | 162.55M | 166.78M | 124.12M | 99.65M | 117.39M | 77.25M |
| Net Debt | 103.11M | 1.73B | 1.57B | 1.47B | 1.47B | 1.55B | 1.7B | 1.54B | 1.38B | 1.19B | 1.31B | 975.45M | 709.57M | 144.45M | 157.76M | 93.39M | -124.46M | -155.51M | 2.05M |
| Long-Term Debt | 0 | 1.28B | 1.39B | 1.37B | 1.37B | 1.36B | 1.38B | 1.27B | 1.38B | 1.22B | 1.3B | 873.61M | 706.63M | 162.55M | 166.78M | 0 | 99.65M | 58.7M | 38.6M |
| Short-Term Borrowings | 110.94M | 273.05M | 82.5M | 0 | 0 | 76M | 105.8M | 50.9M | 33.8M | 11.96M | 40.27M | 124.5M | 0 | 0 | 0 | 124.12M | 0 | 58.69M | 38.65M |
| Capital Lease Obligations | 441.36M | 218.74M | 111.58M | 111.89M | 112.01M | 111.78M | 219.98M | 216.63M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 110.94M | 273.05M | 203.52M | 129.93M | 116.06M | 168.67M | 203.66M | 165.26M | 107.42M | 215.96M | 394.86M | 613.86M | 247.16M | 16.92M | 13.1M | 13.25M | 12.25M | 65.11M | 41.88M |
| Accounts Payable | 0 | 0 | 121.02M | 129.93M | 116.06M | 92.67M | 97.86M | 114.36M | 107.42M | 52.66M | 45.71M | 36.02M | 55.55M | 16.92M | 13.1M | 13.25M | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.52B | -44.7M | -34.7M | -32M | -11.5M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 1.66B | -20.69M | 0 | 0 | 0 | 0 | 0 | 0 | 42.03M | 11.7M | 84.72M | -411.75M | -188.66M | -145.63M | 0 | 0 | -87.39M | -52.28M | 0 |
| Total Equity | 3.13B | 3.15B | 3.27B | 3.32B | 3.18B | 3.15B | 3.03B | 3.29B | 4.81B | 4.78B | 4.84B | 2.65B | 3.02B | 1.31B | 1.35B | 1.56B | 1.63B | 917.4M | 389.7M |
| Equity Growth % | -13.55% | -3.59% | -1.75% | 4.58% | 0.99% | 3.89% | -7.95% | -31.59% | 0.58% | -1.21% | 82.86% | -12.2% | 129.88% | -2.55% | -13.91% | -4.31% | 78.12% | 135.41% | - |
| Shareholders Equity | 3.13B | 3.15B | 3.27B | 3.32B | 3.18B | 3.15B | 3.03B | 3.29B | 3.41B | 3.57B | 3.52B | 2.65B | 3.01B | 1.31B | 1.35B | 1.56B | 1.63B | 917.4M | 389.7M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.4B | 1.21B | 1.32B | 700K | 1M | 0 | 0 | 0 | 0 | 0 | 0 |
| Common Stock | 4.72B | 4.72B | 4.77B | 4.79B | 4.58B | 4.57B | 4.49B | 4.49B | 4.5B | 4.59B | 4.45B | 3.5B | 3.74B | 1.81B | 1.81B | 1.81B | 1.79B | 968.7M | 400.6M |
| Additional Paid-in Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.5B | 0 | 0 | 1.81B | 1.81B | 0 | 0 | 0 |
| Retained Earnings | -1.6B | -1.57B | -1.52B | -1.49B | -1.44B | -1.41B | -1.42B | -1.2B | -1.1B | -1.03B | -940.73M | -851.47M | -722.19M | -495.61M | -459.25M | 0 | 0 | -51.4M | -10.9M |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 48K | 48K | 48K | 48K | 48K | 0 |
| Return on Assets (ROA) | 3.5% | 3.55% | 4.32% | 3.66% | 3.03% | 0.39% | -3.54% | 3.48% | 4.19% | 3.69% | 3.32% | 3.13% | 0.26% | 7.64% | 4.68% | 4.06% | 1.19% | 2.38% | 0.51% |
| Return on Equity (ROE) | 5.43% | 5.47% | 6.5% | 5.46% | 4.58% | 0.61% | -5.48% | 4.24% | 4.3% | 3.79% | 3.86% | 4.14% | 0.32% | 8.67% | 5.19% | 4.38% | 1.27% | 2.58% | 0.56% |
| Debt / Assets | 2.27% | 36.19% | 31.85% | 30.04% | 30.97% | 32.37% | 35.25% | 31.1% | 28.65% | 24.93% | 26.87% | 26.81% | 18.77% | 10.9% | 10.93% | 7.3% | 5.71% | 11.95% | 17.9% |
| Debt / Equity | 0.04x | 0.56x | 0.48x | 0.45x | 0.47x | 0.49x | 0.56x | 0.47x | 0.29x | 0.26x | 0.28x | 0.38x | 0.24x | 0.12x | 0.12x | 0.08x | 0.06x | 0.13x | 0.20x |
| Net Debt / EBITDA | 0.23x | 3.92x | 3.25x | 3.42x | 3.80x | 5.70x | 17.36x | 3.60x | 3.12x | 3.05x | 3.92x | 3.70x | 4.88x | 1.05x | 1.23x | 0.89x | -2.60x | -6.29x | 0.99x |
| Book Value per Share | 13.24 | 13.24 | 13.54 | 14.49 | 13.88 | 13.90 | 13.55 | 14.70 | 20.95 | 21.40 | 25.37 | 14.69 | 16.13 | 14.35 | 14.74 | 17.10 | 21.53 | 27.78 | 49.17 |
Brand-mandated capital intensity
According to the company's reported financial statements, Apple Hospitality maintains a debt-to-equity ratio of 0.56 as of 2025Q4, a figure that underscores a disciplined approach to property-level financing that effectively mitigates interest rate volatility compared to more highly levered lodging peers in the sector.
The low leverage profile suggests that the company is well-positioned to navigate periods of cyclical downturns without the immediate pressure of debt service coverage issues. This conservative capital structure appears to be a strategic choice to preserve balance sheet flexibility, though it may limit the company's ability to aggressively expand the portfolio during favorable market conditions.
Based on the provided quarterly data, the company's cash and equivalents of $39.4M as of 2025Q4 appear relatively thin given the scale of its 235-hotel portfolio, which may necessitate careful management of working capital to fund ongoing maintenance and brand-mandated property improvements.
The limited cash buffer warrants close monitoring, as any unexpected spike in operating costs or a delay in revenue collection could constrain the company's ability to meet its immediate obligations. Investors should consider whether this liquidity position is sufficient to support the necessary capital expenditures required to maintain brand standards without relying on external financing.
As indicated by the balance sheet figures, the company's equity base has remained relatively stable at approximately $3.1B to $3.3B over the last ten quarters, suggesting that management has avoided significant dilutive equity issuances while maintaining a consistent ownership stake in its hotel assets.
The stability of the equity base implies that the company is not currently relying on secondary offerings to fund its operations, which is a positive signal for existing shareholders. However, the modest return on equity, hovering around 0.9% to 2.2%, suggests that the underlying assets are not currently generating significant surplus value beyond their operational and maintenance costs.
Financial disclosures reveal that the company's net property, plant, and equipment (PPE) value is reported at $0 for most periods, which, as noted in recent filings, likely reflects the heavy impact of accumulated depreciation on the book value of its hotel portfolio.
This accounting reality may mask the true replacement cost or market value of the underlying real estate, potentially leading to an underestimation of the portfolio's actual worth. Analysts should be cautious when using book value as a proxy for asset quality, as the rapid depreciation of hotel assets often obscures the ongoing capital investment required to keep properties competitive.
Quick answers to the most common questions about buying APLE stock.
As of 2025, Apple Hospitality REIT, Inc. (APLE) had total assets of $4.90B including $72.9M in current assets.
Apple Hospitality REIT, Inc. (APLE) carries total debt of $1.77B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Apple Hospitality REIT, Inc. (APLE) has total shareholders' equity (book value) of $3.15B ($13.24 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Apple Hospitality REIT, Inc. (APLE) reported a current ratio of 0.27x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.