Revenue growth has turned negative with a 0.6% year-over-year decline in 2027Q1, while NOI margins remain highly erratic, swinging from 11.6% in 2026Q4 to 100% in 2027Q1.
| Metric | TTM | Jan'26 | Jan'25 | Jan'24 | Jan'23 | Jan'22 | Jan'21 | Jan'20 | Jan'19 | Jan'18 | Jan'17 | Jan'16 | Jan'15 | Jan'14 | Jan'13 | Jan'12 | Jan'11 | Jan'10 | Jan'09 | Jan'08 | Jan'07 | Jan'06 | Jan'05 | Jan'04 | Jan'03 | Jan'02 | Jan'01 | Jan'00 | Jan'99 | Jan'98 | Jan'97 |
|---|
| Revenue | 7.56M | 7.57M | 7.59M | 7.48M | 7.15M | 6.41M | 4.2M | 6.57M | 6.17M | 10.77M | 13.22M | 3.62M | 14.67M | 14.88M | 14.98M | 17.07M | 15.74M | 16.92M | 20.39M | 22.1M | 21.79M | 21.25M | 22.88M | 17.76M | 26.94M | 27.67M | 9.74M | 9.55M | 9.91M | 1.42M | 3.92M |
| Revenue Growth % | 0.66% | -0.35% | 1.46% | 4.74% | 11.48% | 52.52% | -36.02% | 6.47% | -42.71% | -18.52% | 264.71% | -75.3% | -1.42% | -0.62% | -12.25% | 8.43% | -7% | -17% | -7.73% | 1.42% | 2.55% | -7.11% | 28.8% | -34.08% | -2.62% | 184.08% | 2.01% | -3.67% | 596.9% | -63.68% | -27.89% |
| Property Operating Expenses | 4.09M | 6.24M | 4.1M | 3.73M | 3.63M | 3.34M | 3.48M | 3.55M | 3.35M | 4.65M | 6.39M | 1.51M | 7.92M | 7.6M | 7.96M | 8.68M | 7.51M | 6.88M | 11.34M | 5.57M | 2.26M | 2.43M | 2.56M | 2.43M | 3.45M | 1.49B | 0 | 0 | 0 | 0 | 0 |
| Net Operating Income (NOI) | 3.46M | 1.32M | 3.5M | 3.76M | 3.52M | 3.07M | 725.58K | 3.02M | 2.82M | 6.12M | 6.83M | 2.11M | 6.75M | 7.29M | 7.02M | 8.38M | 8.23M | 10.04M | 9.05M | 16.53M | 19.53M | 18.82M | 20.32M | 15.33M | 23.49M | -1.46B | 9.74M | 9.55M | 9.91M | 1.42M | 3.92M |
| NOI Margin % | 45.8% | 17.5% | 46.03% | 50.22% | 49.19% | 47.9% | 17.27% | 45.99% | 45.72% | 56.84% | 51.68% | 58.29% | 46.03% | 48.96% | 46.86% | 49.12% | 52.28% | 59.33% | 44.37% | 74.78% | 89.61% | 88.58% | 88.83% | 86.33% | 87.18% | -5268.69% | 100% | 100% | 100% | 100% | 100% |
| Operating Expenses | 4.07M | 1.88M | 4.24M | 4.48M | 3.81M | 3.37M | 3.54M | 4.05M | 4.13M | 8.5M | 8.92M | 3.49M | 7.93M | 7.27M | 7.14M | 8.31M | 9.31M | 10.29M | 8.77M | 13.55M | 20.28M | 20.9M | 23.1M | 17.7M | 28.02M | 23.43M | 7.89M | 8.22M | 7.35M | 1.88M | 3.85M |
| G&A Expenses | 2.72M | 2.63M | 2.67M | 2.88M | 3.11M | 2.61M | 2.7M | 3.13M | 3.28M | 6.75M | 6.76M | 2.99M | 6.11M | 5.48M | 5.38M | 5.64M | 7.44M | 7.35M | 4.73M | 4.73M | 4.59M | 5.31M | 6.09M | 5.37M | 8.03M | 7.5M | 3.59M | 4.25M | 2.75M | 0 | 0 |
| EBITDA | -17.98K | 213.81K | -37.06K | -41.82K | 405.05K | 1.57M | -1.98M | -951.14K | 6.17M | 4.05M | 9.2M | 331.83K | -123.98K | 1.8M | 1.63M | 1.81M | 770.87K | 1.69M | 3.19M | 3.99M | 3.58M | 385.72K | -183.34K | 113.21K | -1.03M | -537.3K | 1.6M | 3.93M | 4.83M | -433.7K | 49.72K |
| EBITDA Margin % | -0.24% | 2.83% | -0.49% | -0.56% | 5.67% | 24.51% | -47.14% | -14.48% | 100% | 37.57% | 69.59% | 9.16% | -0.84% | 12.07% | 10.89% | 10.61% | 4.9% | 9.96% | 15.63% | 18.06% | 16.44% | 1.82% | -0.8% | 0.64% | -3.81% | -1.94% | 16.44% | 41.18% | 48.76% | -30.5% | 1.27% |
| Depreciation & Amortization | 591.66K | 773.96K | 705.68K | 679.16K | 702.39K | 725.38K | 830.92K | 901.66K | 7.47M | 7.16M | 11.55M | 1.01M | 1.78M | 1.78M | 1.75M | 1.73M | 1.85M | 1.93M | 2.91M | 1.01M | 2.07M | 36.37K | 38.31K | 49.04K | 54.21K | 54.69K | 2.96M | 2.6M | 2.24M | 21.72K | -15K |
| D&A / Revenue % | 7.83% | 10.23% | 9.29% | 9.07% | 9.83% | 11.32% | 19.77% | 13.73% | 121.16% | 66.5% | 87.42% | 27.88% | 12.15% | 11.98% | 11.71% | 10.16% | 11.77% | 11.43% | 14.29% | 4.57% | 9.49% | 0.17% | 0.17% | 0.28% | 0.2% | 0.2% | 30.38% | 27.24% | 22.57% | 1.53% | -0.38% |
| Operating Income | -609.65K | -560.16K | -742.74K | -720.98K | -297.33K | 845.46K | -2.81M | -1.85M | -1.31M | -3.11M | -2.36M | -678.3K | -1.91M | 12.89K | -123.08K | 75.44K | -1.08M | -247.79K | 274.49K | 2.98M | 1.52M | 349.35K | -221.65K | 64.17K | -1.08M | -591.99K | -1.36M | 1.33M | 2.6M | -455.43K | 64.72K |
| Operating Margin % | -8.07% | -7.4% | -9.78% | -9.63% | -4.16% | 13.19% | -66.91% | -28.21% | -21.16% | -28.93% | -17.82% | -18.72% | -12.99% | 0.09% | -0.82% | 0.44% | -6.88% | -1.46% | 1.35% | 13.49% | 6.95% | 1.64% | -0.97% | 0.36% | -4.01% | -2.14% | -13.94% | 13.94% | 26.2% | -32.03% | 1.65% |
| Interest Expense | 484.08K | 523.99K | 476.05K | 501.71K | 530.35K | 367.24K | 360.68K | 566.68K | 381.31K | 332.53K | 489.79K | 730.16K | 344.18K | 822.58K | 961.71K | 1.53M | 1.59M | 1.56M | 1.5M | 1.82M | 1.82M | 1.91M | 2.26M | 2.67M | 3.8M | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Coverage | - | -1.65x | -1.48x | -1.44x | -0.56x | 2.06x | -7.03x | -3.01x | -3.42x | -4.48x | -4.75x | -0.93x | -5.52x | 0.02x | -0.12x | 0.05x | -0.68x | -0.15x | 0.18x | 1.64x | 0.91x | 0.18x | -0.10x | -0.10x | 12.36x | - | - | - | - | - | - |
| Non-Operating Income | 274.13K | 306.54K | -36.27K | 0 | 0 | -1.06M | -276.32K | -146.65K | -108.65K | -105K | -30.27K | 0 | -6.66K | -5.61K | -8.94K | -3.72K | -1.3K | -12.29K | -2.6K | -1.56K | -142.18K | 0 | 0 | 0 | -48.02M | 0 | -15.38M | 0 | 0 | 0 | 0 |
| Pretax Income | -1.32M | -1.39M | -1.18M | 277.08K | 643.55K | 1.54M | -2.9M | -2.27M | -1.58M | -1.82M | -2.82M | -1.7M | -2.04M | -804.08K | -1.08M | -1.45M | -2.67M | -1.8M | -1.23M | 1.16M | -159.12K | 349.49K | 2.64M | -1 | -3.45M | -3.54B | -4.57M | 0 | 0 | 0 | 0 |
| Pretax Margin % | -17.43% | -18.38% | -15.57% | 3.7% | 9.01% | 24.02% | -68.92% | -34.6% | -25.58% | -16.92% | -21.33% | -46.93% | -13.92% | -5.4% | -7.18% | -8.49% | -16.96% | -10.61% | -6.01% | 5.27% | -0.73% | 1.64% | 11.54% | -0% | -12.79% | -12793.64% | -46.91% | 0% | 0% | 0% | 0% |
| Income Tax | 130.72K | -140 | 209.11K | -100 | -93.5K | -50 | -68.66K | -294.4K | 407.73K | 341K | -227.57K | 96.96K | 198.65K | 37.15K | 0 | 0 | 27K | -35.83K | 34.69K | 192.09K | 316.16K | -75.17K | 160K | 4.83M | 0 | -7.76B | 4.45M | 2.28M | 2.75M | 118.08K | 1.01M |
| Effective Tax Rate % | -9.93% | 0.01% | -17.68% | -0.04% | -14.53% | -0% | 2.37% | 12.95% | -25.84% | -18.72% | 8.07% | -5.7% | -9.73% | -4.62% | 0% | 0% | -1.01% | 2% | -2.83% | 16.5% | -198.69% | -21.51% | 6.06% | -483049700% | 0% | 219.26% | -97.37% | - | - | - | - |
| Net Income | -1.32M | -1.43M | -1.39M | 203.88K | 523.17K | 254.14K | -1.63M | -1.74M | 1.42M | 1.4M | -2.19M | 432.12K | -2.1M | -1.02M | -1.01M | -1.08M | -2.01M | -1.06M | -630.53K | 1.12M | -46.43K | 541.58K | 240.44K | -2.59M | -3.45M | -3.54M | -2.59M | -951.81K | -193.07K | -573.51K | -888.37K |
| Net Margin % | -17.52% | -18.85% | -18.32% | 2.72% | 7.32% | 3.96% | -38.68% | -26.52% | 23.01% | 12.98% | -16.59% | 11.92% | -14.34% | -6.86% | -6.72% | -6.32% | -12.75% | -6.27% | -3.09% | 5.06% | -0.21% | 2.55% | 1.05% | -14.61% | -12.79% | -12.79% | -26.64% | -9.97% | -1.95% | -40.33% | -22.69% |
| Net Income Growth % | 1.8% | -2.53% | -782.28% | -61.03% | 105.86% | 115.63% | 6.66% | -222.68% | 1.58% | 163.76% | -607.26% | 120.54% | -105.87% | -1.56% | 6.73% | 46.27% | -89.15% | -68.34% | -156.34% | 2510.42% | -108.57% | 125.24% | 109.27% | 24.71% | 2.64% | -36.41% | -172.61% | -392.99% | 66.34% | 35.44% | 88.24% |
| Funds From Operations (FFO) | -536.78K | -652.22K | -685.35K | 883.04K | 1.23M | 979.52K | -794.69K | -840.02K | 8.89M | 8.56M | 9.36M | 1.44M | -321.22K | 761.77K | 748.14K | 655.99K | -154.53K | 872.81K | 2.28M | 2.13M | 2.02M | 577.95K | 278.75K | -2.55M | -3.39M | -3.48M | 363.5K | 1.65M | 2.04M | -551.78K | -903.37K |
| FFO Margin % | -7.1% | -8.62% | -9.03% | 11.8% | 17.15% | 15.28% | -18.91% | -12.79% | 144.17% | 79.48% | 70.83% | 39.8% | -2.19% | 5.12% | 5% | 3.84% | -0.98% | 5.16% | 11.19% | 9.63% | 9.28% | 2.72% | 1.22% | -14.33% | -12.59% | -12.6% | 3.73% | 17.27% | 20.62% | -38.8% | -23.07% |
| FFO Growth % | 135.63% | 4.83% | -177.61% | -27.95% | 25.12% | 223.26% | 5.4% | -109.45% | 3.93% | -8.58% | 549.03% | 549% | -142.17% | 1.82% | 14.05% | 524.52% | -117.7% | -61.77% | 7.22% | 5.3% | 249.84% | 107.33% | 110.95% | 24.96% | 2.67% | -1058.64% | -77.95% | -19.31% | 470.27% | 38.92% | 88.07% |
| FFO per Share | -0.06 | -0.07 | -0.08 | 0.10 | 0.13 | 0.11 | -0.09 | -0.09 | 0.96 | 0.65 | 0.70 | 0.12 | -0.04 | 0.09 | 0.09 | 0.08 | -0.02 | 0.10 | 0.25 | 0.16 | 0.22 | 0.04 | 0.03 | -0.30 | -0.39 | -0.39 | 0.15 | 0.69 | 1.06 | -0.52 | -0.88 |
| FFO Payout Ratio % | -16.38% | -27.87% | -25.97% | 20.4% | 14.91% | 19.04% | -24.14% | -22.85% | 2.2% | 2.31% | 1.03% | 6.11% | -25.74% | 10.95% | 11.21% | 12.87% | -55.31% | 9.82% | 3.97% | 4.3% | 4.61% | 15.82% | 8.33% | -1.61% | -0.59% | -0.62% | 26.88% | 3.21% | 8.16% | -27.74% | -45.19% |
| EPS (Diluted) | -0.14 | -0.16 | -0.16 | 0.02 | 0.08 | 0.17 | -0.31 | -0.21 | 0.15 | 0.11 | -0.16 | 0.03 | -0.25 | -0.12 | -0.12 | -0.13 | -0.23 | -0.12 | -0.07 | 0.07 | -0.01 | 0.04 | 0.02 | -0.31 | -0.40 | -0.39 | -1.06 | -0.40 | -0.10 | -0.54 | -0.87 |
| EPS Growth % | 3.49% | 0% | -817.49% | -72.3% | -52.65% | 154.84% | -47.62% | -240% | 36.36% | 168.75% | -633.33% | 112% | -108.33% | 0% | 7.69% | 43.48% | -91.67% | -72.66% | -199.29% | - | -112.32% | 87.96% | 106.97% | 22.5% | -2.56% | 63.21% | -165% | -300% | 81.48% | 37.93% | 88.24% |
| EPS (Basic) | - | -0.16 | -0.16 | 0.02 | 0.08 | 0.17 | -0.31 | -0.21 | 0.15 | 0.71 | -0.23 | 0.04 | -0.25 | -0.12 | -0.12 | -0.13 | -0.23 | -0.12 | -0.07 | 0.12 | -0.01 | 0.06 | 0.10 | -1.27 | -1.67 | -1.66 | -1.12 | -0.40 | -0.10 | -0.56 | -0.87 |
| Diluted Shares Outstanding | 9.33M | 8.76M | 8.79M | 9.16M | 9.16M | 9.11M | 9.16M | 9.32M | 9.28M | 13.09M | 13.37M | 11.95M | 8.31M | 8.37M | 8.42M | 8.51M | 8.58M | 8.83M | 9.07M | 13.11M | 9.25M | 13.34M | 11.11M | 8.5M | 8.7M | 8.97M | 2.46M | 2.38M | 1.92M | 1.05M | 1.02M |
Structural operating cash deficit
According to the provided financial data, IHT's revenue growth has trended into negative territory, with a -0.6% year-over-year decline in 2027Q1, suggesting that the trust is struggling to maintain its competitive position within the Arizona and New Mexico hospitality markets despite broader regional travel demand.
The inability to generate consistent top-line growth indicates that the trust's legacy assets may be losing market share to more modern, branded competitors. Without a clear strategy to drive RevPAR through either ADR increases or occupancy gains, the current revenue trajectory appears insufficient to support the trust's fixed-cost base.
As reported in the quarterly financial statements, IHT's FFO performance remains highly erratic, swinging from a $176.7K gain in 2027Q1 to significant losses in prior periods, which highlights the underlying instability of the trust's core operating model and its reliance on seasonal revenue spikes.
The frequent oscillation between positive and negative FFO suggests that the trust lacks the scale to absorb seasonal fluctuations in hospitality demand. Investors should monitor whether these FFO swings are driven by operational performance or non-recurring items, as the current trend raises concerns regarding the long-term sustainability of the trust's dividend and capital structure.
Based on the reported figures, NOI margins have demonstrated extreme volatility, peaking at 100% in 2027Q1 but collapsing to as low as 11.6% in 2026Q4, which implies that the trust lacks the necessary economies of scale to manage property-level expenses effectively against fluctuating revenue streams.
The wide variance in NOI margins suggests that the trust's cost structure is not well-aligned with its revenue generation, potentially due to high fixed costs that cannot be easily adjusted. This lack of margin stability makes the trust particularly vulnerable to inflationary pressures in labor and utility costs, which are common in the Southwest hospitality sector.
Data from recent filings indicates that AFFO has remained consistently negative across the observed periods, with a deficit of $760.4K in 2026Q4, suggesting that the trust is failing to generate sufficient cash flow to cover both its operating expenses and necessary recurring maintenance capital expenditures.
The persistent gap between FFO and AFFO highlights a critical risk: the trust may be under-investing in its aging property portfolio to preserve cash, which could lead to further brand obsolescence. This structural cash burn warrants investigation into whether the trust can continue to operate without external financing or asset divestitures.
Quick answers to the most common questions about buying IHT stock.
For fiscal year 2026, InnSuites Hospitality Trust (IHT) reported total revenue of $7.6M. This represents a 93.3% increase compared to $3.9M in 1997.
InnSuites Hospitality Trust (IHT) reported a net loss of $1.4M for the fiscal year ending 2026.
InnSuites Hospitality Trust (IHT) reported an operating income of $-0.6M, resulting in an operating profit margin of -7.4%. This margin reflects the operational efficiency of the business before interest and taxes.
InnSuites Hospitality Trust (IHT) generated $1.3M in gross profit for the year, representing a gross profit margin of 17.5%. This demonstrates the company's core pricing power and production efficiency.