Choice Hotels International, Inc. (CHH) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$1.97	$2.02	+2.5%	—	—	—
Q4 26	$1.32	$1.07	-18.9%	—	—	—
Q3 26	$1.54	$1.6	+3.9%	—	—	—
Q2 26	$2.2	$2.1	-4.5%	—	—	—
Q1 26	$1.9	$1.92	+1.1%	—	—	—
Q4 25	$1.37	$1.34	-2.2%	—	—	—
Q3 25	$1.48	$1.55	+4.7%	—	—	—
Q2 25	$1.91	$2.23	+16.8%	—	—	—
Q1 25	$1.85	$1.84	-0.5%	—	—	—
Q4 24	$1.14	$1.28	+12.3%	—	—	—
Q3 24	$1.35	$1.44	+6.7%	—	—	—
Q2 24	$1.85	$1.82	-1.6%	—	—	—
Q1 24	$1.69	$1.75	+3.6%	—	—	—
Q4 23	$1.01	$1.12	+10.9%	—	—	—
Q3 23	$1.06	$1.26	+18.9%	—	—	—
Q2 23	$1.69	$1.56	-7.7%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$7.97	—	—	$1.6B	—
FY24	—	$6.26	—	—	$1.6B	—
FY23	—	$5.11	—	—	$1.5B	—
FY22	—	$6.05	—	—	$1.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$807.9M	$941.3M	$1B	$1.1B	$774.1M	$1.1B	$1.4B	$1.5B	$1.6B	$1.6B
YoY change	-6.04%	+16.5%	+10.6%	+7.06%	-30.6%	+38.1%	+31.1%	+10.1%	+2.63%	+0.75%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	807.9M	941.3M	1B	1.1B	774.1M	1.1B	1.4B	1.5B	1.6B	1.6B
Cost of revenue	459.8M	479.4M	534.3M	593.6M	462.9M	469.7M	701.9M	853.9M	840.7M	755M
Gross profit	348.1M	461.9M	507M	521.2M	311.2M	599.6M	700.1M	690.3M	744.2M	841.8M
Gross margin	43.1%	49.1%	48.7%	46.8%	40.2%	56.1%	49.9%	44.7%	47%	52.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	154.7M	165.8M	170M	168.9M	148.9M	145.6M	167.7M	216.1M	219.9M	329M
Operating expenses	154.7M	165.8M	170M	168.9M	148.9M	145.6M	167.7M	216.1M	219.9M	329M
Operating income	186.4M	289.4M	322.7M	333.5M	136.4M	429.2M	501.9M	434.5M	481M	453.1M
Operating margin	23.1%	30.7%	31%	29.9%	17.6%	40.1%	35.8%	28.1%	30.4%	28.4%
Non-operating income, net	2.6M	-1.1M	-11M	-26.7M	-42.1M	-11M	-28.6M	-41.6M	-6.9M	88.7M
Pretax income	148.1M	249.2M	273.3M	269.9M	53M	376.5M	436.8M	337M	395.6M	456.9M
Income tax	41.4M	126.9M	56.9M	47.1M	-22.4M	87.5M	104.7M	78.4M	96M	86.9M
Net income	106.7M	122.3M	216.4M	222.9M	75.4M	289M	332.2M	258.5M	299.7M	369.9M
Net margin	13.2%	13%	20.8%	20%	9.74%	27%	23.7%	16.7%	18.9%	23.2%
EBITDA	219.6M	321.3M	357.3M	375M	181.8M	473.9M	567.8M	531.6M	571.2M	531.3M
EPS	2.48	2.03	3.83	4	1.36	5.2	6.05	5.11	6.26	7.97
Diluted EPS	2.46	2.02	3.8	3.98	1.35	5.15	5.99	5.07	6.2	7.9

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	425.6M	358.4M	331.9M	435.2M	428M	389.8M	332.9M	426.4M	447.3M	390.1M	340.6M	440.8M
Cost of revenue	226M	216.9M	196.4M	225.8M	215.3M	203.2M	164.9M	198.8M	208.1M	183.3M	185.4M	223.1M
Gross profit	199.6M	141.5M	135.6M	209.3M	212.7M	186.6M	168M	227.7M	239.3M	206.8M	155.1M	217.6M
Gross margin	46.9%	39.5%	40.8%	48.1%	49.7%	47.9%	50.5%	53.4%	53.5%	53%	45.6%	49.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	44M	34.1M	48.6M	65M	49.1M	57.2M	74.2M	89.3M	79.6M	85.8M	78M	96.2M
Operating expenses	44M	34.1M	48.6M	65M	49.1M	57.2M	74.2M	89.3M	79.6M	85.8M	78M	96.2M
Operating income	145.9M	97.3M	76M	133.5M	152.8M	118.7M	80M	124.9M	143.9M	104.2M	60.3M	104.7M
Operating margin	34.3%	27.1%	22.9%	30.7%	35.7%	30.5%	24%	29.3%	32.2%	26.7%	17.7%	23.7%
Non-operating income, net	-10.4M	-46.2M	-17.3M	4.5M	4M	2M	-586K	4.9M	89.1M	-4.7M	-7.2M	4.4M
Pretax income	121.2M	35.7M	40.2M	116.6M	137.1M	101.7M	59.8M	108.6M	210.9M	77.6M	30.3M	85.9M
Income tax	29.2M	6.7M	9.2M	29.4M	31.4M	25.9M	15.2M	26.9M	30.9M	13.9M	10M	21.5M
Net income	92M	29M	31M	87.1M	105.7M	75.8M	44.5M	81.7M	180M	63.7M	20.3M	64.3M
Net margin	21.6%	8.08%	9.34%	20%	24.7%	19.4%	13.4%	19.2%	40.2%	16.3%	5.96%	14.6%
EBITDA	166.9M	126.8M	94.2M	158.9M	177.8M	140.3M	99.7M	149.7M	155.8M	126.1M	76.4M	133.6M
EPS	1.83	0.58	0.63	1.82	2.24	1.62	0.95	1.76	3.89	1.38	0.44	1.42
Diluted EPS	1.81	0.58	0.62	1.8	2.22	1.59	0.94	1.75	3.86	1.37	0.44	1.41

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	3.1B	4.4B	4B	5.8B	5.9B	8.7B	6.2B	5.7B	6.8B	4.4B	4.7B
Enterprise value	3.8B	4.9B	4.8B	6.6B	6.8B	9.3B	7.4B	7.4B	8.6B	6.4B	6.6B
Shares outstanding	56.2M	56.6M	56.5M	55.7M	55.4M	55.6M	54.9M	50.3M	47.9M	46.4M	46.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	29.5	35.9	18.7	25.9	78.5	30	18.6	22.1	22.7	12	14.4
P/S	3.9	4.67	3.88	5.17	7.64	8.11	4.41	3.69	4.29	2.77	4.6
P/B	-10.1	-17	-22	-245.1	-1K	32.6	40	160.2	-150.1	24.4	32.1
EV/EBITDA	17.2	15.2	13.4	17.6	37.2	19.5	13.1	13.8	15.1	12	13.9
EV/Sales	4.69	5.19	4.58	5.93	8.74	8.66	5.3	4.77	5.45	4.01	6.57
Earnings yield	3.39%	2.79%	5.35%	3.87%	1.27%	3.33%	5.37%	4.53%	4.41%	8.37%	6.93%
FCF yield	3.95%	5.27%	4.78%	3.58%	1.27%	3.53%	4.42%	3.13%	2.55%	2.82%	4.53%
PEG	—	—	—	—	—	—	—	—	—	—	-0.75

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	43.1%	49.1%	48.7%	46.8%	40.2%	56.1%	49.9%	44.7%	47%	52.7%	49.4%
Operating margin	23.1%	30.7%	31%	29.9%	17.6%	40.1%	35.8%	28.1%	30.4%	28.4%	37.7%
Net margin	13.2%	13%	20.8%	20%	9.74%	27%	23.7%	16.7%	18.9%	23.2%	32.6%
ROE	-34.3%	-47.3%	-117.7%	-948%	-1.3K%	108.7%	214.8%	726.2%	-661.9%	204.1%	566.4%
ROA	12.5%	12.3%	19%	16.1%	4.75%	15%	15.8%	10.8%	11.8%	12.7%	9.16%
ROIC	41.1%	61.1%	46.9%	33.3%	16.2%	38.2%	27.3%	19.7%	20.2%	17%	15.2%
Return on tangible assets	16.1%	19.3%	83.9%	45.7%	11.4%	29.2%	184%	77.8%	93%	261%	191.5%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.31	1.41	0.77	0.73	1.69	1.34	0.8	0.31	0.73	0.87	0.93
Quick ratio	1.31	1.41	0.77	0.73	1.69	1.34	0.8	0.31	0.73	0.87	0.93
Debt / equity	-2.7	-2.81	-4.11	-37.6	-188.1	4.17	8.31	47.2	-41.7	11.2	14.8
Debt / assets	0.99	0.73	0.66	0.64	0.68	0.57	0.61	0.7	0.75	0.69	0.7
Net debt / EBITDA	2.91	1.53	2.04	2.26	4.66	1.26	2.19	3.11	3.23	3.72	4.2
Interest coverage	4.33	6.53	6.95	6.77	2.08	9.07	11	6.28	5.54	6.01	5.24
Effective tax rate	28%	50.9%	20.8%	17.4%	0%	23.3%	24%	23.3%	24.3%	19%	18.9%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	14.4	16.6	18.4	20	14	19.2	25.5	30.7	33.1	34.4	22
EPS (basic)	2.48	2.03	3.83	4	1.36	5.2	6.05	5.11	6.26	7.97	7.97
EPS (diluted)	2.46	2.02	3.8	3.98	1.35	5.15	5.99	5.07	6.2	7.9	7.06
Book value per share	-5.54	-4.57	-3.25	-0.42	-0.1	4.78	2.82	0.71	-0.95	3.9	3.17
FCF per share	2.21	4.09	3.42	3.71	1.35	5.5	4.98	3.54	3.63	2.69	2.52
Cash per share	3.6	4.16	0.47	0.61	4.24	9.21	0.76	0.53	0.84	0.97	0.96
Capex per share	0.45	0.41	0.84	1.03	0.61	1.34	1.64	2.31	3.05	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	3.12%	2.49%	4.58%	5.14%	4.34%	6.95%	6.42%	7.53%	9.2%	—	—
Capex / operating cash flow	26%	9.15%	21.4%	22.8%	59.1%	22.1%	23.2%	39.7%	48%	—	—
Payout ratio	43.3%	39.8%	22.5%	21.6%	33.5%	8.67%	15.8%	21.8%	18.5%	14.5%	16.3%
Dividend yield	1.47%	1.11%	1.2%	0.83%	0.43%	0.29%	0.85%	0.99%	0.82%	1.21%	1.12%

Yield

1.12%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.288

ex-dividend Jul 1, 2026

Payout ratio

16%

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 1, 2026	$0.288
Apr 1, 2026	$0.288
Jan 2, 2026	$0.288

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$425.6M	$358.4M	$331.9M	$435.2M	$428M	$389.8M	$332.9M	$426.4M	$447.3M	$390.1M	$340.6M	$440.8M
YoY change	+2.73%	-0.99%	-0.25%	+1.81%	+0.57%	+8.75%	+0.27%	-2%	+4.53%	+0.1%	+2.32%	+3.36%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	202.5M	235.3M	26.6M	33.8M	234.8M	511.6M	41.6M	26.8M	40.2M	45M
Receivables	107.3M	125.9M	138M	141.6M	149.9M	153.1M	216.6M	195.9M	176.7M	207.5M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	344.9M	400.4M	243.8M	236.6M	432.9M	761.7M	347.9M	296.5M	339.1M	406M
Property, plant & equipment	75.9M	64.9M	132M	175.3M	154.5M	198.6M	254.9M	293.4M	353.4M	71.1M
Goodwill & intangibles	189.3M	362.5M	880.4M	899.2M	925.8M	943.2M	1.9B	2.1B	2.2B	2.8B
Total assets	852.5M	995.2M	1.1B	1.4B	1.6B	1.9B	2.1B	2.4B	2.5B	2.9B
Accounts payable	48.1M	67.8M	73.5M	73.4M	83.3M	81.2M	118.9M	131.3M	134.9M	156.3M
Short-term debt	1.2M	1.2M	1.1M	17.6M	10.6M	228.3M	13.6M	503.5M	5.4M	8.4M
Total current liabilities	263.7M	284.7M	318.4M	325.9M	255.8M	570.3M	435.9M	942.7M	462.7M	467.3M
Long-term debt	839.4M	725.3M	753.5M	865.4M	1.1B	879.6M	1.3B	1.2B	1.9B	2B
Total liabilities	1.2B	1.3B	1.3B	1.4B	1.6B	1.7B	1.9B	2.4B	2.6B	2.7B
Shareholders' equity	-311.3M	-258.6M	-183.8M	-23.5M	-5.8M	265.9M	154.7M	35.6M	-45.3M	181.2M
Total debt	840.6M	726.5M	754.6M	883M	1.1B	1.1B	1.3B	1.7B	1.9B	2B
Net debt	638.1M	491.2M	728M	849.2M	847.3M	596.4M	1.2B	1.7B	1.8B	2B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	36.4M	26.8M	42.1M	150.9M	58.6M	40.2M	40.1M	58.6M	52.6M	45M	43.9M	42.8M
Receivables	223.8M	195.9M	225.2M	235.4M	210.9M	176.7M	194.3M	218.5M	236.5M	207.5M	243.5M	279.8M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	352.8M	296.5M	338.5M	448.2M	338.6M	339.1M	358.2M	400.7M	450.3M	406M	410.8M	431.9M
Property, plant & equipment	560.2M	293.4M	602.8M	624.6M	662M	353.4M	713.5M	740.5M	707.3M	264.4M	726.4M	728.5M
Goodwill & intangibles	2B	2.1B	2.1B	2.1B	2.2B	2.2B	2.2B	2.2B	2.7B	2.8B	2.8B	2.8B
Total assets	2.2B	2.4B	2.5B	2.5B	2.5B	2.5B	2.6B	2.7B	2.9B	2.9B	2.9B	3B
Accounts payable	124.1M	131.3M	135.3M	151.1M	152.8M	134.9M	121.6M	142.9M	154.2M	156.3M	146.2M	165.4M
Short-term debt	4.4M	503.5M	499.5M	—	—	5.4M	—	—	—	8.4M	—	—
Total current liabilities	419M	942.7M	919.5M	452.1M	478.8M	462.7M	427.4M	451.9M	468.5M	467.3M	434M	466.5M
Long-term debt	1.5B	1.2B	1.3B	2B	1.9B	1.9B	2B	2B	2B	2B	2.1B	2.1B
Total liabilities	2.2B	2.4B	2.5B	2.7B	2.6B	2.6B	2.6B	2.7B	2.8B	2.7B	2.8B	2.8B
Shareholders' equity	72.4M	35.6M	6.7M	-146.8M	-96.2M	-45.3M	-63.9M	-26.2M	149.8M	181.2M	137.4M	142.2M
Total debt	1.5B	1.7B	1.8B	2B	1.9B	1.9B	2B	2B	2B	2B	2.1B	2.1B
Net debt	1.5B	1.7B	1.8B	1.9B	1.9B	1.8B	1.9B	2B	2B	2B	2.1B	2.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	106.7M	122.3M	216.4M	222.9M	75.4M	289M	332.2M	258.5M	299.7M	369.9M
Depreciation & amortization	27.7M	27.3M	33.9M	36.1M	48.5M	50.5M	63.9M	75.7M	70.9M	79.3M
Stock-based compensation	15.3M	22.9M	16M	17.6M	9.7M	35.7M	43M	46.8M	43.3M	38.3M
Change in working capital	-13.1M	50.9M	—	—	—	—	—	—	—	—
Operating cash flow	97M	256.3M	222.8M	251.5M	56.8M	335.7M	387.9M	292.7M	304M	270.4M
Capital expenditure	-25.2M	-23.4M	-47.7M	-57.3M	-33.6M	-74.3M	-90M	-116.3M	-145.9M	—
Investing cash flow	-99.6M	-92.2M	-320.9M	-263.6M	-33.9M	-75.4M	-483.5M	-263.6M	-100.4M	-117.1M
Dividends paid	-46.2M	-48.7M	-48.7M	-48.1M	-25.3M	-25M	-52.5M	-56.5M	-55.5M	-53.5M
Share repurchases	-35.9M	-9.8M	-148.7M	-50.6M	-55.5M	-13.4M	-434.8M	-362.8M	-380.7M	-138.3M
Financing cash flow	-31.2M	-264.9M	-170.8M	-33.9M	105.2M	-38.8M	-398M	-52.3M	-239.2M	-56.9M
Net change in cash	-33.8M	-100.8M	-268.9M	-46.1M	128.1M	221.5M	-493.6M	-23.2M	-35.7M	96.4M
Free cash flow	124.3M	231.4M	193.4M	206.5M	75.1M	305.8M	273.5M	178.3M	173.6M	124.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	92M	29M	31M	87.1M	105.7M	75.8M	44.5M	81.7M	180M	63.7M	20.3M	64.3M
Depreciation & amortization	18.6M	18.7M	18M	17.6M	17.3M	18M	18.6M	18M	20.6M	22M	21.9M	22.9M
Stock-based compensation	11M	12.1M	10.6M	8.7M	13.2M	10.8M	9.8M	9.6M	8M	10.8M	8.4M	4.7M
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	95M	35.7M	34M	96.4M	86.6M	87M	58.6M	95.6M	68.7M	85.7M	-23.2M	90.5M
Capital expenditure	-35.7M	-34.9M	-32.8M	-40.8M	-41.3M	-31M	-46M	—	—	—	—	—
Investing cash flow	-44.5M	-162.2M	-41.3M	-16M	2.9M	-23.3M	-53M	-4.2M	-99.1M	-6.8M	20.7M	-9.5M
Dividends paid	-14.5M	-14.4M	-14.7M	-14.1M	-13.6M	-13M	-13.5M	-13.4M	-13.3M	-13.3M	-13.1M	-13.2M
Share repurchases	-69.9M	-58.4M	-59.5M	-233.3M	-56.3M	-31.8M	-64.6M	-48.1M	-202K	-25.3M	-56.5M	-51M
Financing cash flow	-71.5M	-396.6M	52.3M	-72.4M	371.4M	-87.8M	27.4M	-37M	5.2M	-52.5M	27.4M	-64.9M
Net change in cash	-20.9M	-523.1M	45.1M	8.1M	460.9M	-24.2M	33.1M	54.4M	-25.2M	26.3M	24.9M	16.1M
Free cash flow	85.2M	14.4M	-32.5M	69.4M	79.5M	54M	-25.5M	57.6M	40.5M	52.1M	-50.1M	72.2M

Choice Hotels International, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history