NYSE : IHG
InterContinental Hotels Group PLC — Financial statements
Consumer Discretionary · Lodging · United Kingdom
Last price 167.81 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 24.71B
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Financial statements
InterContinental Hotels Group PLC (IHG) reported revenue of 5.33B 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 | |
|---|---|---|---|---|---|---|
| Revenue | 5.33B | 5.19B | 4.92B | 4.62B | 3.89B | 2.32B |
| Cost of Revenue | 2.08B | 1.98B | 1.92B | 1.79B | 1.56B | 1.28B |
| Gross Profit | 3.25B | 3.21B | 3.01B | 2.83B | 2.33B | 1.04B |
| Selling, General & Admin | 916.00M | 923.00M | 896.00M | 859.00M | 760.00M | 447.00M |
| Other Operating Expenses | 1.01B | 1.01B | 1.00B | 884.00M | 803.00M | -11.00M |
| Operating Expenses | 1.99B | 2.00B | 1.96B | 1.81B | 1.63B | 534.00M |
| Operating Income | 1.26B | 1.21B | 1.05B | 1.02B | 699.00M | 503.00M |
| Interest Expense | -210.00M | -195.00M | -161.00M | -114.00M | -121.00M | -138.00M |
| Interest & Investment Income | 44.00M | 49.00M | 63.00M | 39.00M | 22.00M | 8.00M |
| Earnings From Equity Investments | 6.00M | 6.00M | 10.00M | 31.00M | -59.00M | -8.00M |
| Currency Exchange Gain (Loss) | -49.00M | 37.00M | -25.00M | 35.00M | 10.00M | |
| Other Non Operating Income (Expenses) | -7.00M | -7.00M | -17.00M | -12.00M | -7.00M | -9.00M |
| EBT Excluding Unusual Items | 1.04B | 1.10B | 916.00M | 1.00B | 544.00M | 356.00M |
| Merger & Restructuring Charges | -10.00M | -10.00M | -12.00M | |||
| Gain (Loss) on Sale of Investments | 2.00M | -4.00M | ||||
| Asset Writedown | -2.00M | -2.00M | -3.00M | 3.00M | ||
| Legal Settlements | -9.00M | -9.00M | -12.00M | |||
| Other Unusual Items | -5.00M | -8.00M | -4.00M | -4.00M | 6.00M | 6.00M |
| Pretax Income | 1.02B | 1.07B | 897.00M | 1.01B | 540.00M | 361.00M |
| Income Tax Expense | 304.00M | 315.00M | 269.00M | 260.00M | 164.00M | 96.00M |
| Earnings From Continuing Operations | 715.00M | 759.00M | 628.00M | 750.00M | 376.00M | 265.00M |
| Minority Interest in Earnings | -1.00M | -1.00M | -1.00M | 1.00M | ||
| Net Income | 714.00M | 758.00M | 628.00M | 750.00M | 375.00M | 266.00M |
| Net Income to Common | 714.00M | 758.00M | 628.00M | 750.00M | 375.00M | 266.00M |
| Shares Outstanding (Basic) | 151.25M | 154.40M | 161.20M | 169.00M | 181.00M | 183.00M |
| Shares Outstanding (Diluted) | 152.45M | 155.80M | 163.00M | 170.00M | 182.00M | 184.00M |
| EPS (Basic) | 4.72 | 4.91 | 3.90 | 4.44 | 2.07 | 1.45 |
| EPS (Diluted) | 4.68 | 4.87 | 3.85 | 4.41 | 2.06 | 1.45 |
| Free Cash Flow | 914.00M | 870.00M | 695.00M | 865.00M | 592.00M | 619.00M |
| Free Cash Flow Per Share | 6.00 | 5.58 | 4.26 | 5.09 | 3.25 | 3.36 |
| Dividend Per Share | 1.90 | 1.84 | 1.68 | 1.52 | 1.38 | 0.86 |
| Gross Margin | 60.97% | 61.94% | 61.08% | 61.31% | 59.87% | 44.74% |
| Operating Margin | 23.66% | 23.38% | 21.25% | 22.17% | 17.96% | 21.70% |
| Profit Margin | 13.40% | 14.61% | 12.76% | 16.22% | 9.63% | 11.47% |
| Free Cash Flow Margin | 17.15% | 16.77% | 14.12% | 18.71% | 15.21% | 26.70% |
| EBITDA | 1.29B | 1.25B | 1.08B | 1.15B | 820.00M | 665.00M |
| EBITDA Margin | 24.13% | 23.99% | 21.88% | 24.89% | 21.07% | 28.69% |
| D&A For EBITDA | 25.00M | 32.00M | 31.00M | 126.00M | 121.00M | 162.00M |
| EBIT | 1.26B | 1.21B | 1.05B | 1.02B | 699.00M | 503.00M |
| EBIT Margin | 23.66% | 23.38% | 21.25% | 22.17% | 17.96% | 21.70% |
| Effective Tax Rate | 29.83% | 29.33% | 29.99% | 25.74% | 30.37% | 26.59% |
| Revenue as Reported | 5.33B | 5.19B | 4.92B | 4.62B | 3.89B | 2.91B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 825.00M | 1.13B | 1.01B | 1.32B | 976.00M | 1.45B |
| Short-Term Investments | 6.00M | 3.00M | 7.00M | 7.00M | 2.00M | |
| Cash & Short-Term Investments | 831.00M | 1.13B | 1.01B | 1.33B | 976.00M | 1.45B |
| Accounts Receivable | 993.00M | 745.00M | 689.00M | 615.00M | 524.00M | 429.00M |
| Other Receivables | 42.00M | 76.00M | 63.00M | 83.00M | 65.00M | 103.00M |
| Receivables | 1.03B | 821.00M | 752.00M | 698.00M | 589.00M | 532.00M |
| Inventory | 4.00M | 5.00M | 4.00M | 5.00M | 4.00M | 4.00M |
| Prepaid Expenses | 86.00M | 93.00M | 92.00M | 104.00M | 73.00M | |
| Other Current Assets | 6.00M | 5.00M | 5.00M | 5.00M | 5.00M | 5.00M |
| Total Current Assets | 1.88B | 2.05B | 1.87B | 2.13B | 1.68B | 2.07B |
| Property, Plant & Equipment | 394.00M | 417.00M | 422.00M | 426.00M | 437.00M | 411.00M |
| Long-Term Investments | 294.00M | 266.00M | 263.00M | 233.00M | 192.00M | 250.00M |
| Goodwill | 335.00M | 331.00M | 336.00M | 335.00M | 341.00M | |
| Other Intangible Assets | 1.14B | 820.00M | 711.00M | 763.00M | 809.00M | 854.00M |
| Long-Term Accounts Receivable | 834.00M | 751.00M | 612.00M | 424.00M | 336.00M | 316.00M |
| Long-Term Deferred Tax Assets | 129.00M | 146.00M | 122.00M | 134.00M | 126.00M | 147.00M |
| Long-Term Deferred Charges | 112.00M | 103.00M | 90.00M | 82.00M | 75.00M | 72.00M |
| Other Long-Term Assets | 453.00M | 458.00M | 328.00M | 286.00M | 228.00M | 259.00M |
| Total Assets | 5.23B | 5.34B | 4.75B | 4.81B | 4.22B | 4.72B |
| Accounts Payable | 769.00M | 103.00M | 111.00M | 127.00M | 152.00M | 109.00M |
| Accrued Expenses | 15.00M | 437.00M | 437.00M | 436.00M | 372.00M | 351.00M |
| Short-Term Debt | 3.00M | 17.00M | 44.00M | 55.00M | 59.00M | |
| Current Portion of Long-Term Debt | 1.05B | 475.00M | 381.00M | 580.00M | 233.00M | |
| Current Portion of Leases | 32.00M | 28.00M | 26.00M | 30.00M | 26.00M | 35.00M |
| Current Income Taxes Payable | 42.00M | 52.00M | 52.00M | 51.00M | 32.00M | 52.00M |
| Current Unearned Revenue | 894.00M | 829.00M | 766.00M | 752.00M | 681.00M | 617.00M |
| Other Current Liabilities | 26.00M | 173.00M | 138.00M | 170.00M | 226.00M | 168.00M |
| Total Current Liabilities | 2.82B | 2.10B | 1.93B | 2.19B | 1.54B | 1.62B |
| Long-Term Debt | 3.11B | 3.73B | 2.95B | 2.57B | 2.35B | 2.62B |
| Long-Term Leases | 362.00M | 378.00M | 388.00M | 396.00M | 401.00M | 384.00M |
| Long-Term Unearned Revenue | 1.36B | 1.34B | 1.29B | 1.10B | 1.04B | 996.00M |
| Pension & Post-Retirement Benefits | 67.00M | 69.00M | 68.00M | 66.00M | 66.00M | 92.00M |
| Long-Term Deferred Tax Liabilities | 22.00M | 17.00M | 18.00M | 68.00M | 78.00M | 93.00M |
| Other Long-Term Liabilities | 452.00M | 442.00M | 406.00M | 376.00M | 340.00M | 386.00M |
| Total Liabilities | 8.20B | 8.08B | 7.06B | 6.76B | 5.82B | 6.19B |
| Common Stock | 142.00M | 145.00M | 137.00M | 46.00M | 46.00M | 53.00M |
| Additional Paid-In Capital | 95.00M | 91.00M | 101.00M | |||
| Retained Earnings | -620.00M | -302.00M | 34.00M | 396.00M | 607.00M | 904.00M |
| Comprehensive Income & Other | -2.50B | -2.58B | -2.48B | -2.49B | -2.36B | -2.54B |
| Total Common Equity | -2.98B | -2.74B | -2.31B | -1.95B | -1.61B | -1.48B |
| Minority Interest | 4.00M | 5.00M | 4.00M | 4.00M | 7.00M | 7.00M |
| Shareholders' Equity | -2.97B | -2.74B | -2.31B | -1.95B | -1.61B | -1.47B |
| Total Liabilities & Equity | 5.23B | 5.34B | 4.75B | 4.81B | 4.22B | 4.72B |
| Total Debt | 4.55B | 4.62B | 3.77B | 3.62B | 2.83B | 3.33B |
| Net Cash (Debt) | -3.72B | -3.49B | -2.75B | -2.29B | -1.86B | -1.87B |
| Net Cash Per Share | -24.40 | -22.38 | -16.88 | -13.46 | -10.21 | -10.18 |
| Filing Date Shares Outstanding | 150.00M | 150.78M | 157.56M | 164.66M | 174.74M | 183.13M |
| Total Common Shares Outstanding | 150.00M | 150.78M | 157.56M | 164.66M | 174.74M | 183.13M |
| Working Capital | -948.00M | -51.00M | -59.00M | -61.00M | 134.00M | 442.00M |
| Book Value Per Share | -19.85 | -18.18 | -14.67 | -11.84 | -9.24 | -8.09 |
| Tangible Book Value | -4.11B | -3.90B | -3.35B | -3.05B | -2.76B | -2.68B |
| Tangible Book Value Per Share | -27.43 | -25.84 | -21.29 | -18.52 | -15.79 | -14.61 |
| Land | 99.00M | 99.00M | 111.00M | 112.00M | 105.00M | |
| Machinery | 293.00M | 288.00M | 300.00M | 292.00M | 299.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 714.00M | 758.00M | 628.00M | 750.00M | 375.00M | 266.00M |
| Depreciation & Amortization | 49.00M | 57.00M | 53.00M | 150.00M | 149.00M | 192.00M |
| Other Amortization | 89.00M | 89.00M | 94.00M | |||
| Asset Writedown & Restructuring Costs | 2.00M | 2.00M | 3.00M | -3.00M | ||
| Loss (Gain) From Sale of Investments | 35.00M | 40.00M | 19.00M | -1.00M | 12.00M | -2.00M |
| Loss (Gain) on Equity Investments | -5.00M | -4.00M | -8.00M | -10.00M | 10.00M | |
| Stock-Based Compensation | 77.00M | 72.00M | 67.00M | 56.00M | 46.00M | 41.00M |
| Other Operating Activities | -88.00M | -152.00M | -188.00M | -131.00M | -37.00M | 22.00M |
| Change in Accounts Receivable | -51.00M | -51.00M | -106.00M | -70.00M | -132.00M | -75.00M |
| Change in Inventory | 1.00M | |||||
| Change in Accounts Payable | -25.00M | -25.00M | -45.00M | 31.00M | 121.00M | 153.00M |
| Change in Unearned Revenue | 79.00M | 107.00M | 214.00M | 123.00M | 108.00M | 39.00M |
| Change in Other Net Operating Assets | 65.00M | 5.00M | -7.00M | -5.00M | 4.00M | -8.00M |
| Operating Cash Flow | 941.00M | 898.00M | 724.00M | 893.00M | 646.00M | 636.00M |
| Capital Expenditures | -27.00M | -28.00M | -29.00M | -28.00M | -54.00M | -17.00M |
| Sale of Property, Plant & Equipment | 9.00M | 3.00M | 44.00M | |||
| Cash Acquisitions | -14.00M | -10.00M | -13.00M | |||
| Sale (Purchase) of Intangibles | -51.00M | -169.00M | -49.00M | -54.00M | -45.00M | -35.00M |
| Investment in Securities | -28.00M | -27.00M | -55.00M | 12.00M | 9.00M | |
| Other Investing Activities | 3.00M | 3.00M | 6.00M | |||
| Investing Cash Flow | -116.00M | -190.00M | -99.00M | -137.00M | -78.00M | -12.00M |
| Long-Term Debt Issued | 1.06B | 834.00M | 657.00M | |||
| Total Debt Issued | 1.06B | 1.06B | 834.00M | 657.00M | ||
| Short-Term Debt Repaid | -828.00M | |||||
| Long-Term Debt Repaid | -508.00M | -593.00M | -28.00M | -245.00M | -32.00M | |
| Lease Payments | -20.00M | -30.00M | -46.00M | -28.00M | -36.00M | -32.00M |
| Total Debt Repaid | -498.00M | -508.00M | -593.00M | -28.00M | -245.00M | -860.00M |
| Net Debt Issued (Repaid) | 567.00M | 557.00M | 241.00M | 629.00M | -245.00M | -860.00M |
| Repurchase of Common Stock | -862.00M | -907.00M | -831.00M | -798.00M | -483.00M | |
| Common Dividends Paid | -279.00M | -270.00M | -259.00M | -245.00M | -233.00M | |
| Other Financing Activities | -1.00M | 6.00M | -45.00M | -3.00M | ||
| Financing Cash Flow | -575.00M | -614.00M | -894.00M | -417.00M | -961.00M | -860.00M |
| Foreign Exchange Rate Adjustments | -17.00M | 41.00M | -18.00M | 18.00M | -77.00M | 3.00M |
| Net Cash Flow | 233.00M | 135.00M | -287.00M | 357.00M | -470.00M | -233.00M |
| Free Cash Flow | 914.00M | 870.00M | 695.00M | 865.00M | 592.00M | 619.00M |
| Free Cash Flow Margin | 17.15% | 16.77% | 14.12% | 18.71% | 15.21% | 26.70% |
| Free Cash Flow Per Share | 6.00 | 5.58 | 4.26 | 5.09 | 3.25 | 3.36 |
| Levered Free Cash Flow | 913.88M | 684.25M | 603.12M | 668.38M | 535.25M | 695.12M |
| Unlevered Free Cash Flow | 1.05B | 806.12M | 703.75M | 739.62M | 610.88M | 781.38M |
| Free Cash Flow After Leases | 894.00M | 840.00M | 649.00M | 837.00M | 556.00M | 587.00M |
| Cash Interest Paid | 227.00M | 202.00M | 170.00M | 119.00M | 126.00M | 134.00M |
| Cash Income Tax Paid | 289.00M | 307.00M | 309.00M | 243.00M | 211.00M | 86.00M |
| Change in Working Capital | 68.00M | 36.00M | 56.00M | 79.00M | 101.00M | 110.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 24.71B | 21.22B | 19.67B | 14.81B | 9.99B | 11.70B |
| Enterprise Value | 28.43B | 24.71B | 22.45B | 17.06B | 11.71B | 14.18B |
| Last Close Price | 167.81 | 139.08 | 121.49 | 87.35 | 54.73 | 59.95 |
| PE Ratio | 35.47 | 28.00 | 31.33 | 19.74 | 26.64 | 43.98 |
| PS Ratio | 4.64 | 4.09 | 4.00 | 3.20 | 2.57 | 5.05 |
| PB Ratio | -7.76 | -8.53 | -7.61 | -6.21 | -7.94 | |
| P/FCF Ratio | 27.03 | 24.39 | 28.31 | 17.12 | 16.88 | 18.90 |
| P/OCF Ratio | 26.26 | 23.63 | 27.18 | 16.58 | 15.47 | 18.39 |
| EV/Sales Ratio | 5.33 | 4.76 | 4.56 | 3.69 | 3.01 | 6.12 |
| EV/EBITDA Ratio | 22.11 | 19.85 | 20.85 | 14.82 | 14.29 | 21.32 |
| EV/EBIT Ratio | 22.55 | 20.37 | 21.46 | 16.64 | 16.76 | 28.18 |
| EV/FCF Ratio | 31.11 | 28.41 | 32.30 | 19.72 | 19.79 | 22.90 |
| Debt / Equity Ratio | -1.53 | -1.69 | -1.63 | -1.86 | -1.76 | -2.26 |
| Debt / EBITDA Ratio | 3.54 | 3.64 | 3.43 | 3.08 | 3.34 | 4.79 |
| Debt / FCF Ratio | 4.98 | 5.31 | 5.42 | 4.18 | 4.79 | 5.37 |
| Net Debt / Equity Ratio | -1.25 | -1.27 | -1.19 | -1.18 | -1.16 | -1.27 |
| Net Debt / EBITDA Ratio | 2.89 | 2.80 | 2.55 | 1.99 | 2.27 | 2.82 |
| Net Debt / FCF Ratio | 4.07 | 4.01 | 3.96 | 2.65 | 3.14 | 3.03 |
| Asset Turnover | 1.05 | 1.03 | 1.03 | 1.02 | 0.87 | 0.47 |
| Inventory Turnover | 520.00 | 438.89 | 425.78 | 397.56 | 390.50 | 284.67 |
| Quick Ratio | 0.66 | 0.93 | 0.92 | 0.93 | 1.01 | 1.22 |
| Current Ratio | 0.66 | 0.98 | 0.97 | 0.97 | 1.09 | 1.27 |
| Return on Assets (ROA) | 15.50% | 15.02% | 13.68% | 14.19% | 9.78% | 6.44% |
| Return on Invested Capital (ROIC) | 36.81% | 28.27% | 26.91% | 28.75% | 16.89% | 11.79% |
| Return on Capital Employed (ROCE) | 52.50% | 37.40% | 37.10% | 39.10% | 26.20% | 16.30% |
| Earnings Yield | 2.82% | 3.57% | 3.19% | 5.07% | 3.75% | 2.27% |
| FCF Yield | 3.70% | 4.10% | 3.53% | 5.84% | 5.92% | 5.29% |
| Dividend Yield | 1.10% | 1.31% | 1.34% | 1.69% | 2.42% | 1.34% |
| Payout Ratio | 39.00% | 35.62% | 41.24% | 32.67% | 62.13% | |
| Buyback Yield / Dilution | 4.39% | 4.42% | 4.12% | 6.59% | 1.09% | -1.10% |
| Total Shareholder Return | 5.49% | 5.73% | 5.46% | 8.29% | 3.51% | 0.25% |