NYSE : CHH
Choice Hotels International, Inc. — Financial statements
Consumer Discretionary · Lodging · United States
Last price 111.16 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.96B
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Financial statements
Choice Hotels International, Inc. (CHH) reported revenue of 1.63B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 945.84M | 908.36M | 882.59M | 841.49M | 634.46M | 511.79M |
| Other Revenue | 683.98M | 688.43M | 702.25M | 702.67M | 767.49M | 557.51M |
| Revenue | 1.63B | 1.60B | 1.58B | 1.54B | 1.40B | 1.07B |
| Cost of Revenue | 741.30M | 707.89M | 721.34M | 719.05M | 774.29M | 553.60M |
| Gross Profit | 888.51M | 888.90M | 863.50M | 825.11M | 627.66M | 515.70M |
| Selling, General & Admin | 340.16M | 327.81M | 310.60M | 312.70M | 167.70M | 145.62M |
| Other Operating Expenses | 94.96M | 47.13M | 18.15M | 32.83M | -49.69M | -83.90M |
| Operating Expenses | 502.47M | 434.65M | 380.70M | 390.57M | 148.43M | 86.50M |
| Operating Income | 386.04M | 454.25M | 482.80M | 434.54M | 479.23M | 429.20M |
| Interest Expense | -97.48M | -91.15M | -87.13M | -63.78M | -43.80M | -46.68M |
| Interest & Investment Income | 5.09M | 6.24M | 10.15M | 7.76M | 7.29M | 4.98M |
| Earnings From Equity Investments | -17.62M | -14.32M | 12.33M | 2.88M | 1.73M | -15.88M |
| Currency Exchange Gain (Loss) | -100.00K | -100.00K | 2.10M | 500.00K | -1.00M | -400.00K |
| Other Non Operating Income (Expenses) | 6.84M | 7.09M | 3.06M | 6.15M | -6.02M | 5.53M |
| EBT Excluding Unusual Items | 282.77M | 362.00M | 423.30M | 388.05M | 437.44M | 376.76M |
| Merger & Restructuring Charges | -6.75M | -4.70M | -17.23M | -55.78M | -39.58M | |
| Gain (Loss) on Sale of Investments | 100.03M | -8.30M | 4.00M | |||
| Gain (Loss) on Sale of Assets | 713.00K | 16.25M | 13.00K | |||
| Asset Writedown | -6.04M | -3.74M | -282.00K | |||
| Legal Settlements | -2.40M | |||||
| Other Unusual Items | -1.15M | -1.15M | 278.00K | 4.42M | 22.70M | |
| Pretax Income | 268.84M | 456.89M | 395.64M | 336.96M | 436.81M | 376.49M |
| Income Tax Expense | 62.60M | 86.94M | 95.98M | 78.45M | 104.65M | 87.53M |
| Net Income | 206.24M | 369.95M | 299.67M | 258.51M | 332.15M | 288.96M |
| Preferred Dividends & Other Adjustments | 1.78M | 1.78M | 1.52M | 1.38M | 1.88M | 1.12M |
| Net Income to Common | 204.46M | 368.17M | 298.14M | 257.13M | 330.27M | 287.83M |
| Shares Outstanding (Basic) | 45.36M | 46.17M | 47.65M | 50.34M | 54.59M | 55.38M |
| Shares Outstanding (Diluted) | 45.62M | 46.58M | 48.08M | 50.70M | 55.12M | 55.88M |
| EPS (Basic) | 4.51 | 7.97 | 6.26 | 5.11 | 6.05 | 5.20 |
| EPS (Diluted) | 4.48 | 7.90 | 6.20 | 5.07 | 5.99 | 5.15 |
| Free Cash Flow | 110.90M | 124.65M | 173.55M | 180.28M | 277.11M | 309.40M |
| Free Cash Flow Per Share | 2.43 | 2.68 | 3.61 | 3.56 | 5.03 | 5.54 |
| Dividend Per Share | 0.29 | 1.15 | 1.15 | 1.15 | 0.95 | 0.69 |
| Gross Margin | 54.52% | 55.67% | 54.48% | 53.43% | 44.77% | 48.23% |
| Operating Margin | 23.69% | 28.45% | 30.46% | 28.14% | 34.18% | 40.14% |
| Profit Margin | 12.54% | 23.06% | 18.81% | 16.65% | 23.56% | 26.92% |
| Free Cash Flow Margin | 6.80% | 7.81% | 10.95% | 11.68% | 19.77% | 28.93% |
| EBITDA | 448.12M | 505.92M | 530.86M | 479.98M | 516.54M | 465.60M |
| EBITDA Margin | 27.50% | 31.68% | 33.50% | 31.08% | 36.84% | 43.54% |
| D&A For EBITDA | 62.09M | 51.67M | 48.06M | 45.44M | 37.31M | 36.39M |
| EBIT | 386.04M | 454.25M | 482.80M | 434.54M | 479.23M | 429.20M |
| EBIT Margin | 23.69% | 28.45% | 30.46% | 28.14% | 34.18% | 40.14% |
| Effective Tax Rate | 23.29% | 19.03% | 24.26% | 23.28% | 23.96% | 23.25% |
| Revenue as Reported | 1.63B | 1.60B | 1.58B | 1.54B | 1.40B | 1.07B |
| Advertising Expenses | 207.80M | 194.60M | 195.20M | 170.40M | 81.50M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 170.59M | 45.00M | 40.18M | 26.75M | 41.57M | 511.61M |
| Cash & Short-Term Investments | 170.59M | 45.00M | 40.18M | 26.75M | 41.57M | 511.61M |
| Accounts Receivable | 285.97M | 207.49M | 176.67M | 195.90M | 216.61M | 153.15M |
| Other Receivables | 13.46M | 5.42M | 14.28M | 4.76M | 12.51M | |
| Receivables | 285.97M | 315.63M | 257.59M | 230.94M | 273.84M | 220.11M |
| Prepaid Expenses | 45.37M | 41.32M | 34.67M | 29.64M | 15.61M | |
| Other Current Assets | 119.83M | 4.16M | 2.88M | 14.34M | ||
| Total Current Assets | 576.39M | 406.00M | 339.09M | 296.53M | 347.92M | 761.66M |
| Property, Plant & Equipment | 717.63M | 726.96M | 687.80M | 578.58M | 496.29M | 411.55M |
| Long-Term Investments | 139.67M | 134.97M | 117.02M | 186.95M | 30.65M | 61.91M |
| Goodwill | 302.67M | 305.76M | 220.19M | 220.19M | 218.65M | 159.20M |
| Other Intangible Assets | 1.12B | 1.08B | 884.01M | 811.08M | 742.19M | 312.39M |
| Long-Term Deferred Tax Assets | 75.37M | 108.31M | 89.53M | 88.18M | 68.64M | |
| Long-Term Deferred Charges | 69.00M | 59.50M | 58.61M | 57.61M | 55.53M | |
| Other Long-Term Assets | 254.78M | 105.16M | 81.94M | 74.43M | 65.11M | 34.49M |
| Total Assets | 3.14B | 2.92B | 2.53B | 2.39B | 2.10B | 1.93B |
| Accounts Payable | 148.04M | 156.28M | 134.87M | 131.28M | 118.86M | 81.17M |
| Accrued Expenses | 117.44M | 72.21M | 83.14M | 67.24M | 86.32M | 70.56M |
| Current Portion of Long-Term Debt | 499.27M | 2.98M | 216.35M | |||
| Current Portion of Leases | 8.36M | 5.37M | 4.24M | 10.66M | 12.00M | |
| Current Income Taxes Payable | 862.00K | 10.40M | 6.95M | 6.39M | 125.00K | |
| Current Unearned Revenue | 192.54M | 185.73M | 191.13M | 202.89M | 182.65M | 168.30M |
| Other Current Liabilities | 43.84M | 37.82M | 30.81M | 28.04M | 21.79M | |
| Total Current Liabilities | 458.03M | 467.29M | 462.72M | 942.69M | 435.90M | 570.29M |
| Long-Term Debt | 2.18B | 1.91B | 1.77B | 1.07B | 1.20B | 844.12M |
| Long-Term Leases | 102.31M | 107.96M | 113.25M | 109.48M | 70.99M | 35.49M |
| Long-Term Unearned Revenue | 178.71M | 170.28M | 172.87M | 176.77M | 181.53M | 147.57M |
| Long-Term Deferred Tax Liabilities | 32.42M | 25.30M | ||||
| Other Long-Term Liabilities | 58.60M | 60.02M | 58.43M | 61.51M | 58.55M | 68.46M |
| Total Liabilities | 3.01B | 2.74B | 2.58B | 2.36B | 1.95B | 1.67B |
| Common Stock | 131.76M | 951.00K | 951.00K | 951.00K | 951.00K | 951.00K |
| Additional Paid-In Capital | 403.93M | 370.20M | 330.75M | 298.05M | 259.32M | |
| Retained Earnings | 2.32B | 2.00B | 1.76B | 1.56B | 1.28B | |
| Treasury Stock | -2.54B | -2.41B | -2.05B | -1.69B | -1.27B | |
| Comprehensive Income & Other | -5.31M | -6.19M | -5.67M | -5.21M | -4.57M | |
| Shareholders' Equity | 131.76M | 181.23M | -45.27M | 35.60M | 154.66M | 265.88M |
| Total Liabilities & Equity | 3.14B | 2.92B | 2.53B | 2.39B | 2.10B | 1.93B |
| Total Debt | 2.28B | 2.02B | 1.89B | 1.68B | 1.29B | 1.11B |
| Net Cash (Debt) | -2.11B | -1.98B | -1.85B | -1.65B | -1.24B | -596.36M |
| Net Cash Per Share | -46.23 | -42.45 | -38.42 | -32.64 | -22.56 | -10.67 |
| Filing Date Shares Outstanding | 44.89M | 45.63M | 46.37M | 49.20M | 51.05M | 55.33M |
| Total Common Shares Outstanding | 44.89M | 45.65M | 46.50M | 49.16M | 51.80M | 55.37M |
| Working Capital | 118.36M | -61.29M | -123.64M | -646.16M | -87.98M | 191.37M |
| Book Value Per Share | 2.93 | 3.97 | -0.97 | 0.72 | 2.99 | 4.80 |
| Tangible Book Value | -1.29B | -1.21B | -1.15B | -995.66M | -806.18M | -205.70M |
| Tangible Book Value Per Share | -28.74 | -26.44 | -24.72 | -20.25 | -15.56 | -3.71 |
| Land | 67.45M | 51.05M | 44.98M | 37.34M | 32.26M | |
| Buildings | 462.54M | 354.69M | 305.49M | 261.67M | 233.25M | |
| Machinery | 193.28M | 172.76M | 325.20M | 304.93M | 277.52M | |
| Construction In Progress | 88.12M | 151.76M | 98.31M | 76.70M | 66.83M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 206.24M | 369.95M | 299.67M | 258.51M | 332.15M | 288.96M |
| Depreciation & Amortization | 62.09M | 51.67M | 48.06M | 45.44M | 37.31M | 36.39M |
| Other Amortization | 64.60M | 59.57M | 51.50M | 50.32M | 42.27M | 27.32M |
| Loss (Gain) From Sale of Assets | -713.00K | -16.25M | 530.00K | |||
| Asset Writedown & Restructuring Costs | 6.04M | 3.74M | 282.00K | |||
| Loss (Gain) on Equity Investments | 13.95M | -80.18M | -2.33M | -1.57M | 489.00K | 23.98M |
| Stock-Based Compensation | 27.66M | 38.25M | 43.25M | 46.81M | 42.97M | 35.73M |
| Other Operating Activities | -87.49M | -70.12M | -138.14M | -112.81M | -66.80M | -52.74M |
| Change in Other Net Operating Assets | -85.47M | -97.98M | 17.40M | 6.13M | -5.08M | 23.24M |
| Operating Cash Flow | 207.60M | 270.45M | 319.40M | 296.55M | 367.06M | 383.70M |
| Capital Expenditures | -96.71M | -145.79M | -145.85M | -116.28M | -89.95M | -74.29M |
| Sale of Property, Plant & Equipment | 52.00M | 166.57M | 6.12M | |||
| Cash Acquisitions | -73.39M | -550.43M | ||||
| Sale (Purchase) of Intangibles | 44.71M | -3.57M | ||||
| Investment in Securities | -23.71M | -49.06M | 71.23M | -150.48M | -3.15M | 12.78M |
| Other Investing Activities | 16.86M | -2.02M | -9.95M | 1.13M | -10.18M | -19.95M |
| Investing Cash Flow | -103.55M | -218.26M | -84.57M | -265.63M | -442.43M | -78.93M |
| Long-Term Debt Issued | 134.83M | 705.07M | 500.00M | 360.00M | ||
| Long-Term Debt Repaid | -500.00M | -131.50M | -272.55M | |||
| Net Debt Issued (Repaid) | 256.88M | 134.83M | 205.07M | 368.50M | 87.45M | |
| Issuance of Common Stock | 1.76M | 6.84M | 17.52M | 6.34M | 3.81M | 11.05M |
| Repurchase of Common Stock | -191.52M | -138.30M | -380.74M | -362.77M | -434.77M | -13.37M |
| Common Dividends Paid | -52.60M | -53.47M | -55.50M | -56.46M | -52.55M | -25.04M |
| Other Financing Activities | -435.00K | -8.07M | -1.55M | 1.90M | -365.00K | |
| Financing Cash Flow | 14.08M | -50.10M | -221.71M | -45.94M | -394.15M | -27.72M |
| Foreign Exchange Rate Adjustments | -120.00K | 2.74M | 301.00K | 197.00K | -520.00K | -224.00K |
| Net Cash Flow | 118.01M | 4.82M | 13.42M | -14.81M | -470.04M | 276.83M |
| Free Cash Flow | 110.90M | 124.65M | 173.55M | 180.28M | 277.11M | 309.40M |
| Free Cash Flow Margin | 6.80% | 7.81% | 10.95% | 11.68% | 19.77% | 28.93% |
| Free Cash Flow Per Share | 2.43 | 2.68 | 3.61 | 3.56 | 5.03 | 5.54 |
| Levered Free Cash Flow | 230.10M | 170.18M | 228.48M | 305.23M | 370.95M | 293.09M |
| Unlevered Free Cash Flow | 291.03M | 227.15M | 282.94M | 345.09M | 398.33M | 322.26M |
| Cash Interest Paid | 90.31M | 90.31M | 67.18M | 60.77M | 46.91M | 43.94M |
| Cash Income Tax Paid | 84.71M | 84.71M | 108.17M | 94.34M | 115.97M | 106.54M |
| Change in Working Capital | -85.47M | -97.98M | 17.40M | 6.13M | -5.08M | 23.24M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 5.20B | 4.38B | 6.61B | 5.60B | 5.96B | 8.64B |
| Enterprise Value | 7.31B | 6.35B | 8.47B | 7.07B | 7.14B | 9.29B |
| Last Close Price | 111.16 | 94.20 | 139.12 | 110.25 | 108.54 | 148.88 |
| PE Ratio | 26.01 | 11.88 | 22.16 | 21.78 | 18.04 | 30.02 |
| Forward PE | 14.79 | 13.62 | 19.99 | 17.12 | 19.64 | 33.04 |
| PS Ratio | 3.19 | 2.74 | 4.17 | 3.63 | 4.25 | 8.08 |
| PB Ratio | 37.87 | 24.14 | -145.97 | 157.33 | 38.53 | 32.50 |
| P/FCF Ratio | 46.94 | 35.10 | 38.08 | 31.07 | 21.50 | 27.93 |
| P/OCF Ratio | 25.07 | 16.18 | 20.69 | 18.89 | 16.23 | 22.52 |
| PEG Ratio | 1.97 | 7.74 | 1.20 | 1.38 | 1.73 | 0.91 |
| EV/Sales Ratio | 4.49 | 3.98 | 5.34 | 4.58 | 5.09 | 8.69 |
| EV/EBITDA Ratio | 16.32 | 12.55 | 15.96 | 14.73 | 13.81 | 19.95 |
| EV/EBIT Ratio | 18.95 | 13.98 | 17.54 | 16.27 | 14.89 | 21.65 |
| EV/FCF Ratio | 65.95 | 50.95 | 48.81 | 39.22 | 25.75 | 30.03 |
| Debt / Equity Ratio | 17.30 | 11.16 | -41.69 | 47.24 | 8.31 | 4.17 |
| Debt / EBITDA Ratio | 4.96 | 3.91 | 3.48 | 3.41 | 2.43 | 2.33 |
| Debt / FCF Ratio | 20.55 | 16.23 | 10.87 | 9.33 | 4.64 | 3.58 |
| Net Debt / Equity Ratio | 16.00 | 10.91 | -40.80 | 46.49 | 8.04 | 2.24 |
| Net Debt / EBITDA Ratio | 4.71 | 3.91 | 3.48 | 3.45 | 2.41 | 1.28 |
| Net Debt / FCF Ratio | 19.02 | 15.86 | 10.64 | 9.18 | 4.49 | 1.93 |
| Asset Turnover | 0.54 | 0.59 | 0.64 | 0.69 | 0.69 | 0.61 |
| Quick Ratio | 1.00 | 0.57 | 0.48 | 0.25 | 0.60 | 1.19 |
| Current Ratio | 1.26 | 0.87 | 0.73 | 0.32 | 0.80 | 1.34 |
| Return on Equity (ROE) | 146.51% | 544.21% | 271.74% | 157.96% | 222.16% | |
| Return on Assets (ROA) | 7.98% | 10.42% | 12.25% | 12.08% | 14.85% | 15.25% |
| Return on Invested Capital (ROIC) | 13.32% | 17.41% | 19.46% | 21.58% | 32.24% | 30.03% |
| Return on Capital Employed (ROCE) | 14.40% | 18.50% | 23.30% | 29.90% | 28.80% | 31.50% |
| Earnings Yield | 3.84% | 8.46% | 4.54% | 4.62% | 5.57% | 3.34% |
| FCF Yield | 2.13% | 2.85% | 2.63% | 3.22% | 4.65% | 3.58% |
| Dividend Yield | 0.99% | 1.20% | 0.81% | 1.01% | 0.83% | 0.44% |
| Payout Ratio | 16.20% | 14.45% | 18.52% | 21.84% | 15.82% | 8.67% |
| Buyback Yield / Dilution | 2.66% | 3.12% | 5.17% | 8.02% | 1.36% | -0.64% |
| Total Shareholder Return | 3.65% | 4.32% | 5.98% | 9.03% | 2.19% | -0.20% |