MeritValue

PROCACCIANTI HOTEL REIT, INC.

PRXAdata completeness 88%9 fiscal years on file
The thesis, from the filings

PROCACCIANTI HOTEL REIT, INC. earns about 7% on invested capital. The cash-flow models don't apply cleanly here — the ledger says why below.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$24.9M1$30.6M2$30M3$31.9M4$32.8M4
Net income$3.34M5$5.48M6$1.76M7$2.07M8$1.86M8
Operating cash flow$4.08M9$8.3M10$6.45M11$6.66M12$6.11M12
Capital expenditure$932,96013$2.61M14$1M15$1.42M16$1.36M16
Free cash flow (derived)$3.15M9$5.69M10$5.45M11$5.24M12$4.75M12
Total debt$64M17$64.9M18$64.3M19$64.8M20$67.3M21
Cash & equivalents$9.84M22$11.2M23$10.7M24$11.1M24$10.9M24
Diluted shares—————

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

iii. Is this a good business?
Moat signal · return on invested capital
7% avg · 5y
FY21 6%FY22 9%FY23 5%FY24 7%FY25 6%

It earned an average 7% on invested capital over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
— shares · 5y

Total debt has held roughly steady.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
not applicable
no diluted share count — cannot compute per-share value
DCF · Growth Exit 5Y
not applicable
no diluted share count — cannot compute per-share value
Earnings Power Value
not applicable
no diluted share count
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0001558370-23-004524 (RevenueFromContractWithCustomerIncludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001558370-24-003833 (RevenueFromContractWithCustomerIncludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001558370-25-003548 (RevenueFromContractWithCustomerIncludingAssessedTax)
  4. 10-K · period ending 2024-12-31 · accession 0001104659-26-033232 (RevenueFromContractWithCustomerIncludingAssessedTax)
  5. 10-K · period ending 2021-12-31 · accession 0001558370-23-004524 (ProfitLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001558370-24-003833 (ProfitLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001558370-25-003548 (ProfitLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001104659-26-033232 (ProfitLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001558370-23-004524 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001558370-24-003833 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0001558370-25-003548 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001104659-26-033232 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0001558370-23-004524 (PaymentsForCapitalImprovements)
  14. 10-K · period ending 2022-12-31 · accession 0001558370-24-003833 (PaymentsForCapitalImprovements)
  15. 10-K · period ending 2023-12-31 · accession 0001558370-25-003548 (PaymentsForCapitalImprovements)
  16. 10-K · period ending 2024-12-31 · accession 0001104659-26-033232 (PaymentsForCapitalImprovements)
  17. 10-K · period ending 2021-12-31 · accession 0001558370-22-004352 (LongTermDebt)
  18. 10-K · period ending 2022-12-31 · accession 0001558370-23-004524 (LongTermDebt)
  19. 10-K · period ending 2023-12-31 · accession 0001558370-24-003833 (LongTermDebt)
  20. 10-K · period ending 2024-12-31 · accession 0001558370-25-003548 (LongTermDebt)
  21. 10-K · period ending 2025-12-31 · accession 0001104659-26-033232 (LongTermDebt)
  22. 10-K · period ending 2021-12-31 · accession 0001558370-24-003833 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  23. 10-K · period ending 2022-12-31 · accession 0001558370-25-003548 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  24. 10-K · period ending 2023-12-31 · accession 0001104659-26-033232 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)