APLEMEDIUM SIGNALFINANCIAL10-K

APLE shows mixed operational performance with strong 19% revenue growth offset by declining profitability and accelerated share buybacks amid hotel portfolio consolidation.

The company demonstrated solid top-line growth but concerning margin compression, as operating income fell 12% despite higher revenues, suggesting either cost inflation or operational challenges. The accelerated share buyback program (+68%) indicates management confidence in the business despite near-term profitability pressures.

Comparing 2026-02-23 vs 2025-02-24View on EDGAR →
FINANCIAL ANALYSIS

Revenue growth of 19% to $1.2B was strong, but profitability deteriorated significantly with net income declining 18% to $175.4M and operating income falling 12% to $257.8M, indicating margin compression. The company accelerated share repurchases by 68% to $58.3M while maintaining a stable but modest cash position of $8.5M, suggesting management is prioritizing capital returns despite profitability headwinds. The portfolio reduction from 221 to 217 hotels alongside revenue growth indicates the company is focusing on higher-performing assets while facing operational margin pressures.

FINANCIAL STATEMENT CHANGES
Share Buybacks
Cash Flow
+68.2%
$34.7M→$58.3M

Share repurchases increased 68.2% — management returning capital, signals confidence in intrinsic value.

Revenue
P&L
+19%
$1.0B→$1.2B

Revenue growing 19% — solid top-line momentum, watch margins for quality of growth.

Net Income
P&L
-18.1%
$214.1M→$175.4M

Net income declined 18.1% — review whether driven by operations, interest costs, or non-recurring items.

Cash & Equivalents
Balance Sheet
-17%
$10.3M→$8.5M

Cash decreased 17% — monitor burn rate and upcoming capital needs.

Operating Income
P&L
-11.9%
$292.8M→$257.8M

Operating profitability softening — costs rising faster than revenue, watch for margin recovery plan.

LANGUAGE CHANGES
NEW — 2026-02-23
PRIOR — 2025-02-24
ADDED
The number of common shares outstanding on February 17, 2026 was 235,658,820 .
Form 10-K Summary 89 Signatures 97 This Form 10-K includes references to certain trademarks or service marks.
As of December 31, 2025, the Company owned 217 hotels with an aggregate of 29,583 guest rooms located in urban, high-end suburban and developing markets throughout 37 states and the District of Columbia ( D.C.
) and substantially all of the Company s hotels operated under Marriott or Hilton brands.
As of December 31, 2025, the hotels are operated and managed under separate management agreements with one of 16 hotel management companies, none of which are affiliated with the Company.
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REMOVED
The number of common shares outstanding on February 18, 2025 was 239,770,392 .
Form 10-K Summary 90 Signatures 98 This Form 10-K includes references to certain trademarks or service marks.
As of December 31, 2024, the Company owned 221 hotels with an aggregate of 29,764 guest rooms located in urban, high-end suburban and developing markets throughout 37 states and the District of Columbia ( D.C.
), including two hotels with a total of 206 guest rooms classified as held for sale, one of which was sold to an unrelated party in February 2025, while the other is expected to be sold in the first quarter of 2025.
As of December 31, 2024, substantially all of the Company s hotels operated under Marriott or Hilton brands.
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