Choice Hotels International (CHH) Financials

$125.69 -1.24 (-0.97%)

Closing price 03:59 PM Eastern

Extended Trading

$125.54 -0.16 (-0.13%)

As of 06:18 PM Eastern

Annual Income Statements for Choice Hotels International

This table shows Choice Hotels International's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	128	107	122	216	1,397	75	289	332	259	300
Consolidated Net Income / (Loss)	128	107	122	216	223	75	289	332	259	300
Net Income / (Loss) Continuing Operations	128	107	122	216	1,397	75	289	332	259	300
Total Pre-Tax Income	184	148	249	273	270	53	376	437	337	396
Total Operating Income	225	187	290	318	319	122	429	479	375	464
Total Gross Profit	860	808	941	1,041	2,274	311	600	700	690	744
Total Revenue	860	808	941	1,041	2,289	774	1,069	1,402	1,544	1,585
Operating Revenue	842	782	941	1,041	2,289	774	1,069	1,402	1,544	1,585
Total Cost of Revenue	0.00	0.00	0.00	0.00	14	463	470	702	854	841
Operating Cost of Revenue	-	-	0.00	0.00	14	463	470	702	854	841
Total Operating Expenses	635	621	652	723	782	189	171	221	315	280
Selling, General & Admin Expense	134	155	166	170	169	149	146	168	216	220
Depreciation Expense	12	7.00	6.68	14	19	26	25	30	40	43
Other Operating Expenses / (Income)	-	-	0.00	0.00	-	-	-	-	-	0.00
Impairment Charge	-	0.00	0.00	4.29	10	15	0.28	0.00	3.74	0.00
Restructuring Charge	-	-	-	-	-	-	0.00	40	56	17
Total Other Income / (Expense), net	-41	-39	-40	-45	-49	-69	-52	-42	-38	-68
Interest Expense	43	44	45	46	54	66	47	44	59	87
Interest & Investment Income	0.68	4.03	1.37	2.13	0.42	-7.60	-11	9.02	11	21
Other Income / (Expense), net	0.82	1.50	3.23	-1.44	4.97	4.53	5.13	-7.02	11	-1.64
Income Tax Expense	56	41	127	57	47	-22	88	105	78	96
Basic Earnings per Share	-	-	-	-	$4.00	$1.36	$5.20	$6.05	$5.11	$6.26
Weighted Average Basic Shares Outstanding	56.81M	55.87M	56.11M	56.13M	55.71M	55.53M	55.56M	51.45M	49.56M	46.73M
Diluted Earnings per Share	-	-	-	-	$3.98	$1.35	$5.15	$5.99	$5.07	$6.20
Weighted Average Diluted Shares Outstanding	56.81M	55.87M	56.11M	56.13M	55.71M	55.53M	55.56M	51.45M	49.56M	46.73M
Weighted Average Basic & Diluted Shares Outstanding	56.81M	55.87M	56.11M	56.13M	55.71M	55.53M	55.56M	51.45M	49.56M	46.73M
Cash Dividends to Common per Share	-	-	-	$0.86	$0.87	-	-	$0.95	-	$1.15

This table shows Choice Hotels International's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	103	56	53	85	92	29	31	87	106	76
Consolidated Net Income / (Loss)	103	56	53	85	92	29	31	87	106	76
Net Income / (Loss) Continuing Operations	103	56	53	85	92	29	31	87	106	76
Total Pre-Tax Income	137	70	67	113	121	36	40	117	137	102
Total Operating Income	145	77	78	124	135	38	60	133	152	119
Total Gross Profit	211	150	147	202	200	142	136	209	213	187
Total Revenue	414	362	333	427	426	358	332	435	428	390
Operating Revenue	414	362	333	427	426	358	332	435	428	390
Total Cost of Revenue	204	212	186	225	226	217	196	226	215	203
Operating Cost of Revenue	204	212	186	225	226	217	196	226	215	203
Total Operating Expenses	66	73	69	78	65	104	75	77	61	67
Selling, General & Admin Expense	70	23	49	58	44	65	49	65	49	57
Depreciation Expense	8.73	9.99	10	9.81	9.63	10	11	11	11	11
Restructuring Charge	-	-	10	9.38	11	25	16	0.90	0.98	-0.49
Total Other Income / (Expense), net	-8.24	-6.67	-10	-12	-14	-2.06	-20	-16	-15	-18
Interest Expense	9.36	12	14	16	16	13	20	24	22	21
Interest & Investment Income	3.42	2.49	1.82	2.24	3.70	2.88	1.58	10	3.72	5.33
Other Income / (Expense), net	-2.30	2.56	1.91	2.19	-1.34	7.90	-1.34	-2.54	4.01	-1.77
Income Tax Expense	34	15	15	28	29	6.73	9.20	29	31	26
Basic Earnings per Share	$1.87	$1.07	$1.02	$1.66	$1.83	$0.60	$0.63	$1.82	$2.24	$1.57
Weighted Average Basic Shares Outstanding	53.30M	51.45M	50.99M	50.38M	49.80M	49.56M	48.16M	47.21M	46.91M	46.73M
Diluted Earnings per Share	$1.85	$1.05	$1.02	$1.65	$1.81	$0.59	$0.62	$1.80	$2.22	$1.56
Weighted Average Diluted Shares Outstanding	53.30M	51.45M	50.99M	50.38M	49.80M	49.56M	48.16M	47.21M	46.91M	46.73M
Weighted Average Basic & Diluted Shares Outstanding	53.30M	51.45M	50.99M	50.38M	49.80M	49.56M	48.16M	47.21M	46.91M	46.73M

This table details how cash moves in and out of Choice Hotels International's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-19	9.48	31	-208	6.89	201	277	-470	-15	13
Net Cash From Operating Activities	165	152	257	243	271	110	384	367	297	319
Net Cash From Continuing Operating Activities	165	152	257	243	271	110	384	367	297	319
Net Income / (Loss) Continuing Operations	128	107	122	216	223	75	289	332	259	300
Consolidated Net Income / (Loss)	128	107	122	216	223	75	289	332	259	300
Depreciation Expense	12	28	27	34	36	48	50	64	76	71
Amortization Expense	-	6.42	7.19	9.24	7.99	11	13	16	20	29
Non-Cash Adjustments To Reconcile Net Income	18	2.81	3.30	-22	7.34	13	8.79	-20	-63	-78
Changes in Operating Assets and Liabilities, net	7.01	8.43	97	5.00	-3.77	-38	22	-25	4.79	-1.63
Net Cash From Investing Activities	-100	-98	-90	-321	-251	-24	-79	-442	-266	-85
Net Cash From Continuing Investing Activities	-100	-98	-90	-321	-251	-24	-79	-442	-266	-85
Purchase of Property, Plant & Equipment	-37	-54	-23	-51	-57	-34	-74	-90	-116	-146
Acquisitions	-38	-39	-53	-243	-176	-1.36	-3.57	-550	0.00	0.00
Purchase of Investments	-3.22	-1.66	-2.45	-2.90	-31	-8.02	-4.48	-3.15	-151	-53
Sale of Property, Plant & Equipment	6.35	11	1.00	3.05	11	0.00	6.12	167	0.00	0.00
Divestitures	-	-	0.00	0.00	19	11	16	45	0.87	16
Sale and/or Maturity of Investments	8.02	13	7.47	9.25	16	8.97	2.82	0.98	11	140
Other Investing Activities, net	-36	-29	-20	-37	-33	-1.27	-21	-11	-9.72	-42
Net Cash From Financing Activities	-85	-44	-136	-129	-12	115	-28	-394	-46	-222
Net Cash From Continuing Financing Activities	-85	-44	-136	-129	-12	115	-28	-394	-46	-222
Repayment of Debt	-133	-1.27	-116	-3.19	-333	-511	-0.37	-273	-1.55	-508
Repurchase of Common Equity	-73	-36	-9.81	-149	-51	-55	-13	-435	-363	-381
Payment of Dividends	-45	-46	-49	-49	-48	-25	-25	-53	-56	-55
Issuance of Debt	159	26	0.00	30	422	697	0.00	360	369	705
Other Financing Activities, net	7.10	14	38	42	-3.00	10	11	5.75	6.35	18
Cash Interest Paid	40	42	42	43	48	45	44	47	61	67
Cash Income Taxes Paid	55	66	39	77	42	8.61	107	116	94	108

This table details how cash moves in and out of Choice Hotels International's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	-554	-12	-9.99	4.45	0.46	-9.93	15	18	-1.99	-18
Net Cash From Operating Activities	106	102	12	114	121	49	1.74	112	123	83
Net Cash From Continuing Operating Activities	106	102	12	114	121	49	1.74	112	123	83
Net Income / (Loss) Continuing Operations	103	56	53	85	92	29	31	87	106	76
Consolidated Net Income / (Loss)	103	56	53	85	92	29	31	87	106	76
Depreciation Expense	17	20	19	19	19	19	18	18	17	18
Amortization Expense	3.94	4.11	4.64	4.74	5.24	5.41	6.19	7.81	6.59	8.12
Non-Cash Adjustments To Reconcile Net Income	-5.08	-11	-18	-6.44	-16	-22	-19	-14	-26	-19
Changes in Operating Assets and Liabilities, net	-13	33	-46	12	21	18	-34	14	19	0.02
Net Cash From Investing Activities	-460	41	-29	-30	-44	-162	-43	-19	-1.33	-21
Net Cash From Continuing Investing Activities	-460	41	-29	-30	-44	-162	-43	-19	-1.33	-21
Purchase of Property, Plant & Equipment	-16	-24	-20	-26	-36	-35	-33	-41	-41	-31
Acquisitions	-552	4.10	-1.10	-0.29	-0.51	1.89	-1.44	-0.26	-0.43	2.13
Purchase of Investments	-4.02	4.84	-6.29	-12	-9.72	-123	-11	-11	-29	-2.57
Sale and/or Maturity of Investments	0.68	-1.62	1.05	9.34	0.79	-0.33	3.71	17	92	28
Other Investing Activities, net	-1.62	-7.24	-4.43	-0.38	1.04	-5.95	-1.28	-0.47	-23	-17
Net Cash From Financing Activities	-200	-155	7.44	-80	-77	103	56	-75	-124	-80
Net Cash From Continuing Financing Activities	-200	-155	7.44	-80	-77	103	56	-75	-124	-80
Repurchase of Common Equity	-231	-188	-160	-74	-70	-58	-59	-233	-56	-32
Payment of Dividends	-13	-13	-13	-15	-15	-14	-15	-14	-14	-13
Issuance of Debt	315	45	176	9.00	6.50	177	127	175	447	-43
Other Financing Activities, net	1.95	1.45	5.50	0.11	1.10	-0.37	4.16	0.10	5.02	8.25
Cash Interest Paid	15	10	13	15	16	16	20	23	13	11
Cash Income Taxes Paid	41	34	1.60	31	38	24	2.33	27	36	43

This table presents Choice Hotels International's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	717	852	995	1,138	1,387	1,587	1,932	2,102	2,395	2,531
Total Current Assets	311	345	400	244	237	433	762	348	297	339
Cash & Equivalents	193	202	235	27	34	235	512	42	27	40
Note & Lease Receivable	5.11	7.87	13	37	25	24	54	52	21	76
Accounts Receivable	89	107	126	138	142	150	153	217	196	177
Prepaid Expenses	-	-	-	-	-	20	30	33	39	41
Current Deferred & Refundable Income Taxes	5.49	0.32	0.00	10	11	4.19	13	4.76	14	5.42
Plant, Property, & Equipment, net	88	84	83	128	352	335	377	427	493	604
Total Noncurrent Assets	318	424	511	767	799	820	793	1,327	1,605	1,587
Long-Term Investments	85	112	155	128	104	58	28	31	187	117
Noncurrent Note & Lease Receivables	83	111	80	83	103	96	66	56	79	33
Goodwill	79	79	81	169	159	159	159	219	220	220
Intangible Assets	12	16	100	271	290	304	312	742	811	884
Noncurrent Deferred & Refundable Income Taxes	42	53	27	31	21	68	69	88	90	108
Employee Benefit Assets	-	-	-	-	-	29	34	32	40	48
Other Noncurrent Operating Assets	17	54	68	84	122	106	124	160	178	177
Total Liabilities & Shareholders' Equity	717	852	995	1,138	1,387	1,587	1,932	2,102	2,395	2,531
Total Liabilities	1,113	1,164	1,254	1,322	1,410	1,593	1,666	1,948	2,359	2,576
Total Current Liabilities	208	264	285	318	326	256	570	436	943	463
Short-Term Debt	1.19	1.20	1.23	1.10	7.51	0.00	216	2.98	499	0.00
Accounts Payable	64	48	68	74	73	83	81	119	131	135
Accrued Expenses	71	80	84	93	90	79	104	131	109	137
Current Deferred Revenue	72	133	-	-	72	50	82	93	108	102
Other Current Liabilities	-	-	131	151	83	43	87	90	95	89
Total Noncurrent Liabilities	905	900	969	1,004	1,084	1,337	1,096	1,512	1,417	2,113
Long-Term Debt	813	839	725	754	844	1,059	844	1,201	1,069	1,769
Noncurrent Deferred Revenue	-	0.00	29	26	139	146	126	150	142	132
Noncurrent Employee Benefit Liabilities	23	22	26	24	30	34	39	37	46	53
Other Noncurrent Operating Liabilities	69	39	189	200	71	99	86	125	160	159
Commitments & Contingencies	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-396	-311	-259	-184	-24	-5.75	266	155	36	-45
Total Preferred & Common Equity	-396	-311	-259	-184	-24	-5.75	266	155	36	-45
Total Common Equity	-396	-311	-259	-184	-24	-5.75	266	155	36	-45
Common Stock	151	160	183	214	232	235	260	299	332	371
Retained Earnings	515	608	627	795	969	1,025	1,275	1,556	1,756	2,001
Treasury Stock	-1,053	-1,070	-1,065	-1,188	-1,220	-1,260	-1,265	-1,695	-2,047	-2,412
Accumulated Other Comprehensive Income / (Loss)	-8.78	-8.52	-4.70	-5.45	-4.55	-4.65	-4.57	-5.21	-5.67	-6.19

This table presents Choice Hotels International's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	2,189	2,106	2,150	2,232	2,475	2,519	2,544
Total Current Assets	459	341	348	353	339	448	339
Cash & Equivalents	53	32	36	36	42	60	59
Note & Lease Receivable	52	53	53	53	22	22	22
Accounts Receivable	298	214	220	224	225	235	211
Prepaid Expenses	56	37	34	34	41	31	43
Current Deferred & Refundable Income Taxes	0.51	4.74	5.14	5.74	8.56	9.70	4.21
Plant, Property, & Equipment, net	417	434	449	470	518	541	580
Total Noncurrent Assets	1,312	1,331	1,353	1,410	1,619	1,530	1,625
Long-Term Investments	30	33	45	55	189	81	110
Noncurrent Note & Lease Receivables	54	56	50	50	77	78	100
Goodwill	228	220	220	220	220	220	220
Intangible Assets	724	750	764	781	821	833	864
Noncurrent Deferred & Refundable Income Taxes	91	81	86	92	90	92	111
Employee Benefit Assets	29	35	36	36	44	45	48
Other Noncurrent Operating Assets	157	156	151	175	178	180	174
Total Liabilities & Shareholders' Equity	2,189	2,106	2,150	2,232	2,475	2,519	2,544
Total Liabilities	1,904	2,059	2,096	2,160	2,468	2,666	2,640
Total Current Liabilities	426	370	407	419	920	452	479
Short-Term Debt	2.98	4.42	4.42	4.42	499	0.00	0.00
Accounts Payable	130	93	121	124	135	151	153
Accrued Expenses	125	79	99	97	70	97	122
Current Deferred Revenue	86	104	87	86	116	106	103
Other Current Liabilities	82	90	96	108	99	98	101
Total Noncurrent Liabilities	1,478	1,690	1,689	1,741	1,549	2,214	2,161
Long-Term Debt	1,155	1,375	1,384	1,391	1,196	1,868	1,811
Noncurrent Deferred Revenue	199	196	55	53	186	132	132
Noncurrent Employee Benefit Liabilities	43	40	41	41	49	51	53
Other Noncurrent Operating Liabilities	81	78	208	255	118	162	165
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	285	47	55	72	6.73	-147	-96
Total Preferred & Common Equity	285	47	55	72	6.73	-147	-96
Total Common Equity	285	47	55	72	6.73	-147	-96
Common Stock	285	301	312	323	337	345	357
Retained Earnings	1,513	1,594	1,664	1,742	1,773	1,847	1,939
Treasury Stock	-1,507	-1,843	-1,917	-1,987	-2,098	-2,333	-2,387
Accumulated Other Comprehensive Income / (Loss)	-5.71	-4.82	-4.52	-4.71	-5.22	-5.91	-5.38

This table displays calculated financial ratios and metrics derived from Choice Hotels International's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	13.44%	-6.04%	16.51%	10.62%	119.80%	-66.18%	38.14%	31.11%	10.14%	2.63%
EBITDA Growth	6.34%	-6.33%	47.04%	10.03%	2.06%	-49.41%	167.67%	10.72%	-12.65%	16.67%
EBIT Growth	5.60%	-16.62%	55.33%	8.25%	2.04%	-60.99%	243.95%	8.64%	-18.22%	19.82%
NOPAT Growth	4.53%	-14.06%	5.51%	77.36%	4.31%	-34.21%	90.25%	10.55%	-20.94%	22.09%
Net Income Growth	3.95%	-16.65%	14.63%	76.87%	3.02%	-66.18%	283.30%	14.95%	-22.17%	15.92%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-66.08%	281.48%	16.31%	-15.36%	22.29%
Operating Cash Flow Growth	-12.01%	-7.90%	69.29%	-5.63%	11.39%	-59.32%	248.62%	-4.34%	-19.21%	7.70%
Free Cash Flow Firm Growth	-61.44%	-33.47%	367.21%	-130.79%	86.17%	968.59%	192.75%	-144.67%	235.88%	-4.71%
Invested Capital Growth	91.23%	53.46%	-63.94%	436.34%	66.12%	10.08%	3.48%	63.45%	8.08%	12.67%
Revenue Q/Q Growth	3.06%	-12.88%	16.03%	2.31%	109.65%	-61.73%	9.33%	5.84%	-0.23%	2.02%
EBITDA Q/Q Growth	1.02%	-9.74%	22.26%	-3.73%	6.18%	-19.42%	21.80%	-3.91%	-6.59%	15.12%
EBIT Q/Q Growth	0.94%	-19.84%	28.25%	-4.91%	6.95%	-28.50%	25.81%	-5.91%	-8.05%	18.40%
NOPAT Q/Q Growth	2.57%	-18.19%	-10.55%	25.16%	3.83%	-2.15%	22.69%	-5.28%	-9.47%	19.80%
Net Income Q/Q Growth	3.16%	-21.97%	-6.84%	23.58%	5.04%	-31.27%	24.16%	-2.52%	-9.32%	18.53%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-31.12%	24.10%	-1.48%	-8.32%	18.55%
Operating Cash Flow Q/Q Growth	7.97%	1.47%	12.56%	1.55%	-5.74%	-26.26%	34.34%	-9.07%	-15.04%	11.72%
Free Cash Flow Firm Q/Q Growth	11.73%	-58.02%	66.67%	-99.20%	-217.99%	-11.12%	29.62%	16.54%	-39.07%	41.77%
Invested Capital Q/Q Growth	-35.64%	-10.34%	-66.43%	-12.58%	-3.92%	-2.44%	-3.36%	-5.47%	0.97%	1.28%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	99.37%	40.20%	56.07%	49.93%	44.70%	46.96%
EBITDA Margin	27.64%	27.56%	34.78%	34.59%	16.06%	24.02%	46.55%	39.31%	31.18%	35.44%
Operating Margin	26.20%	23.15%	30.77%	30.58%	13.92%	15.72%	40.11%	34.14%	24.29%	29.26%
EBIT Margin	26.30%	23.34%	31.11%	30.45%	14.13%	16.30%	40.59%	33.64%	24.98%	29.16%
Profit (Net Income) Margin	14.89%	13.21%	13.00%	20.78%	9.74%	9.74%	27.02%	23.69%	16.74%	18.91%
Tax Burden Percent	69.59%	72.03%	49.08%	79.18%	82.57%	142.22%	76.75%	76.04%	76.72%	75.74%
Interest Burden Percent	81.36%	78.56%	85.09%	86.19%	83.44%	42.00%	86.74%	92.63%	87.37%	85.61%
Effective Tax Rate	30.41%	27.97%	50.92%	20.82%	17.43%	-42.22%	23.25%	23.96%	23.28%	24.26%
Return on Invested Capital (ROIC)	146.99%	75.90%	97.21%	102.23%	47.54%	23.85%	42.56%	35.12%	21.50%	23.77%
ROIC Less NNEP Spread (ROIC-NNEP)	141.45%	70.62%	92.61%	94.58%	41.43%	10.66%	36.30%	31.27%	19.15%	20.29%
Return on Net Nonoperating Assets (RNNOA)	-178.04%	-106.08%	-140.14%	-200.05%	-262.59%	-539.09%	179.61%	122.85%	250.24%	-6,219.67%
Return on Equity (ROE)	-31.05%	-30.18%	-42.93%	-97.82%	-215.05%	-515.24%	222.16%	157.96%	271.74%	-6,195.91%
Cash Return on Invested Capital (CROIC)	84.34%	33.71%	191.20%	-34.91%	-2.15%	14.25%	39.14%	-13.05%	13.74%	11.85%
Operating Return on Assets (OROA)	33.38%	24.03%	31.70%	29.72%	25.62%	8.49%	24.67%	23.38%	17.15%	18.77%
Return on Assets (ROA)	18.90%	13.60%	13.24%	20.28%	17.65%	5.07%	16.42%	16.47%	11.50%	12.17%
Return on Common Equity (ROCE)	-31.05%	-30.18%	-42.93%	-97.82%	-215.05%	-515.24%	222.16%	157.96%	271.74%	-6,195.91%
Return on Equity Simple (ROE_SIMPLE)	-32.34%	-34.27%	-47.30%	-117.73%	-947.97%	-1,310.62%	108.68%	214.76%	726.18%	-661.94%
Net Operating Profit after Tax (NOPAT)	157	135	142	252	263	173	329	364	288	351
NOPAT Margin	18.23%	16.68%	15.10%	24.22%	11.49%	22.35%	30.79%	25.96%	18.63%	22.16%
Net Nonoperating Expense Percent (NNEP)	5.54%	5.28%	4.60%	7.65%	6.11%	13.19%	6.25%	3.85%	2.35%	3.48%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	26.80%	17.94%	20.38%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.63%	59.80%	43.93%	50.07%	55.30%	53.04%
SG&A Expenses to Revenue	15.61%	19.15%	17.62%	16.33%	7.38%	19.24%	13.62%	11.96%	13.99%	13.87%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	73.80%	76.85%	69.23%	69.42%	34.16%	24.48%	15.96%	15.80%	20.42%	17.69%
Earnings before Interest and Taxes (EBIT)	226	189	293	317	324	126	434	472	386	462
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	238	223	327	360	368	186	498	551	481	562
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	31.86	38.10	157.09	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.06	3.65	4.43	3.69	2.44	7.44	7.92	4.20	3.62	4.19
Price to Earnings (P/E)	20.54	27.61	34.07	17.77	4.00	76.37	29.32	17.74	21.63	22.18
Dividend Yield	1.70%	1.58%	1.17%	1.25%	0.87%	0.85%	0.30%	0.86%	1.02%	0.81%
Earnings Yield	4.87%	3.62%	2.94%	5.63%	25.01%	1.31%	3.41%	5.64%	4.62%	4.51%
Enterprise Value to Invested Capital (EV/IC)	22.60	16.15	58.10	10.69	9.12	8.58	11.43	5.46	5.00	5.27
Enterprise Value to Revenue (EV/Rev)	3.68	4.30	4.78	4.27	2.75	8.43	8.41	5.01	4.50	5.21
Enterprise Value to EBITDA (EV/EBITDA)	13.32	15.60	13.76	12.34	17.14	35.08	18.06	12.74	14.43	14.70
Enterprise Value to EBIT (EV/EBIT)	14.00	18.41	15.38	14.02	19.48	51.69	20.72	14.89	18.01	17.87
Enterprise Value to NOPAT (EV/NOPAT)	20.19	25.77	31.68	17.63	23.95	37.70	27.31	19.30	24.14	23.51
Enterprise Value to Operating Cash Flow (EV/OCF)	19.18	22.84	17.50	18.30	23.29	59.27	23.44	19.13	23.42	25.85
Enterprise Value to Free Cash Flow (EV/FCFF)	35.19	58.01	16.11	0.00	0.00	63.08	29.70	0.00	37.80	47.16
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-2.06	-2.70	-2.81	-4.11	-36.22	-184.06	3.99	7.78	44.05	-39.07
Long-Term Debt to Equity	-2.05	-2.70	-2.80	-4.10	-35.90	-184.06	3.17	7.76	30.02	-39.07
Financial Leverage	-1.26	-1.50	-1.51	-2.12	-6.34	-50.59	4.95	3.93	13.06	-306.59
Leverage Ratio	-1.64	-2.22	-3.24	-4.82	-12.18	-101.63	13.53	9.59	23.64	-509.18
Compound Leverage Factor	-1.34	-1.74	-2.76	-4.16	-10.16	-42.69	11.73	8.89	20.65	-435.93
Debt to Total Capital	194.66%	158.83%	155.27%	132.19%	102.84%	100.55%	79.95%	88.61%	97.78%	102.63%
Short-Term Debt to Total Capital	0.28%	0.23%	0.26%	0.19%	0.91%	0.00%	16.31%	0.22%	31.13%	0.00%
Long-Term Debt to Total Capital	194.37%	158.60%	155.00%	132.00%	101.93%	100.55%	63.64%	88.39%	66.65%	102.63%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-94.66%	-58.83%	-55.27%	-32.19%	-2.84%	-0.55%	20.05%	11.39%	2.22%	-2.63%
Debt to EBITDA	3.43	3.78	2.22	2.10	2.32	5.69	2.13	2.18	3.26	3.15
Net Debt to EBITDA	2.26	2.36	1.03	1.66	1.94	4.12	1.05	2.05	2.81	2.87
Long-Term Debt to EBITDA	3.42	3.77	2.22	2.09	2.30	5.69	1.70	2.18	2.22	3.15
Debt to NOPAT	5.19	6.24	5.11	2.99	3.24	6.12	3.22	3.31	5.45	5.03
Net Debt to NOPAT	3.42	3.91	2.36	2.38	2.72	4.43	1.58	3.11	4.71	4.59
Long-Term Debt to NOPAT	5.18	6.23	5.10	2.99	3.21	6.12	2.56	3.30	3.71	5.03
Altman Z-Score	4.84	4.31	4.93	4.48	5.70	3.96	5.39	4.21	3.30	3.83
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.49	1.31	1.41	0.77	0.73	1.69	1.34	0.80	0.31	0.73
Quick Ratio	1.38	1.20	1.32	0.63	0.62	1.60	1.26	0.71	0.26	0.63
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	90	60	280	-86	-12	103	303	-135	184	175
Operating Cash Flow to CapEx	539.16%	359.32%	1,147.10%	508.16%	578.64%	327.53%	562.81%	0.00%	255.04%	218.99%
Free Cash Flow to Firm to Interest Expense	2.10	1.35	6.21	-1.88	-0.22	1.58	6.49	-3.09	3.10	2.00
Operating Cash Flow to Interest Expense	3.85	3.42	5.71	5.29	5.01	1.68	8.22	8.38	5.00	3.65
Operating Cash Flow Less CapEx to Interest Expense	3.14	2.47	5.22	4.25	4.14	1.17	6.76	10.13	3.04	1.98
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.27	1.03	1.02	0.98	1.81	0.52	0.61	0.70	0.69	0.64
Accounts Receivable Turnover	9.50	8.22	8.07	7.89	16.37	5.31	7.06	7.58	7.49	8.51
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	10.39	9.38	11.24	9.87	9.56	2.26	3.00	3.48	3.35	2.89
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.20	5.91	5.71	7.02	6.83	6.32
Days Sales Outstanding (DSO)	38.42	44.43	45.21	46.25	22.29	68.72	51.73	48.13	48.75	42.90
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	1,856.33	61.81	63.92	52.01	53.46	57.78
Cash Conversion Cycle (CCC)	38.42	44.43	45.21	46.25	-1,834.03	6.91	-12.19	-3.88	-4.71	-14.88
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	140	215	78	416	691	760	787	1,286	1,390	1,566
Invested Capital Turnover	8.06	4.55	6.44	4.22	4.14	1.07	1.38	1.35	1.15	1.07
Increase / (Decrease) in Invested Capital	67	75	-137	338	275	70	26	499	104	176
Enterprise Value (EV)	3,166	3,472	4,504	4,445	6,300	6,523	8,992	7,023	6,946	8,258
Market Capitalization	2,630	2,946	4,168	3,845	5,586	5,757	8,471	5,892	5,592	6,646
Book Value per Share	($6.99)	($5.55)	($4.57)	($3.28)	($0.42)	($0.10)	$4.78	$2.90	$0.71	($0.97)
Tangible Book Value per Share	($8.60)	($7.24)	($7.77)	($11.15)	($8.49)	($8.45)	($3.70)	($15.13)	($19.99)	($24.51)
Total Capital	418	529	468	571	828	1,053	1,326	1,358	1,604	1,723
Total Debt	814	841	727	755	852	1,059	1,060	1,204	1,568	1,769
Total Long-Term Debt	813	839	725	754	844	1,059	844	1,201	1,069	1,769
Net Debt	536	526	336	600	714	766	521	1,131	1,354	1,611
Capital Expenditures (CapEx)	31	42	22	48	47	34	68	-77	116	146
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-89	-120	-118	-100	-116	-58	-104	-127	-174	-164
Debt-free Net Working Capital (DFNWC)	104	82	117	-74	-82	177	408	-85	-147	-124
Net Working Capital (NWC)	103	81	116	-75	-89	177	191	-88	-646	-124
Net Nonoperating Expense (NNE)	29	28	20	36	40	98	40	32	29	52
Net Nonoperating Obligations (NNO)	536	526	336	600	714	766	521	1,131	1,354	1,611
Total Depreciation and Amortization (D&A)	12	34	34	43	44	60	64	80	96	100
Debt-free, Cash-free Net Working Capital to Revenue	-10.39%	-14.86%	-12.57%	-9.62%	-5.05%	-7.46%	-9.72%	-9.03%	-11.25%	-10.34%
Debt-free Net Working Capital to Revenue	12.11%	10.20%	12.43%	-7.06%	-3.57%	22.87%	38.13%	-6.06%	-9.51%	-7.80%
Net Working Capital to Revenue	11.97%	10.05%	12.30%	-7.17%	-3.90%	22.87%	17.90%	-6.28%	-41.85%	-7.80%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.24	$2.48	$0.00	$0.00	$0.00	$0.00	$5.20	$6.05	$5.11	$6.26
Adjusted Weighted Average Basic Shares Outstanding	56.39M	56.28M	56.92M	55.65M	55.71M	55.53M	55.56M	51.45M	49.56M	46.73M
Adjusted Diluted Earnings per Share	$2.22	$2.46	$0.00	$0.00	$0.00	$0.00	$5.15	$5.99	$5.07	$6.20
Adjusted Weighted Average Diluted Shares Outstanding	56.39M	56.28M	56.92M	55.65M	55.71M	55.53M	55.56M	51.45M	49.56M	46.73M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	56.39M	56.28M	56.92M	55.65M	55.71M	55.53M	55.56M	51.45M	49.56M	46.73M
Normalized Net Operating Profit after Tax (NOPAT)	157	134	203	255	275	95	329	382	333	364
Normalized NOPAT Margin	18.23%	16.62%	21.52%	24.54%	12.03%	12.34%	30.81%	27.22%	21.59%	22.99%
Pre Tax Income Margin	21.40%	18.34%	26.48%	26.24%	11.79%	6.85%	35.21%	31.16%	21.82%	24.96%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.28	4.24	6.50	6.91	5.99	1.92	9.30	10.77	6.50	5.28
NOPAT to Interest Expense	3.66	3.03	3.16	5.49	4.87	2.64	7.05	8.31	4.85	4.02
EBIT Less CapEx to Interest Expense	4.56	3.29	6.00	5.86	5.13	1.41	7.84	12.52	4.54	3.62
NOPAT Less CapEx to Interest Expense	2.95	2.08	2.66	4.45	4.01	2.13	5.59	10.06	2.89	2.35
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	35.32%	43.28%	39.77%	22.52%	21.58%	33.53%	8.67%	15.82%	21.84%	18.52%
Augmented Payout Ratio	92.23%	76.94%	47.79%	91.24%	44.30%	107.08%	13.29%	146.71%	162.17%	145.58%

This table displays calculated financial ratios and metrics derived from Choice Hotels International's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	28.11%	27.17%	29.13%	16.15%	2.73%	-0.99%	-0.25%	1.81%	0.57%	8.75%
EBITDA Growth	-5.91%	-17.78%	-9.71%	-10.75%	-3.95%	-32.74%	-20.00%	3.35%	14.06%	105.76%
EBIT Growth	-10.07%	-27.18%	-18.35%	-16.61%	-6.32%	-42.51%	-26.26%	2.77%	16.53%	157.31%
NOPAT Growth	-10.74%	-25.09%	-20.20%	-20.35%	-6.21%	-49.62%	-23.86%	5.88%	14.13%	190.14%
Net Income Growth	-11.64%	-13.37%	-21.62%	-20.21%	-10.73%	-47.84%	-41.29%	2.86%	14.88%	161.82%
EPS Growth	-11.06%	-7.89%	-15.00%	-12.70%	-2.16%	-43.81%	-39.22%	9.09%	22.65%	164.41%
Operating Cash Flow Growth	-25.89%	-26.43%	-81.18%	19.16%	14.74%	-51.54%	-85.53%	-1.63%	1.23%	67.86%
Free Cash Flow Firm Growth	-598.41%	-901.50%	-919.91%	-582.25%	119.75%	83.28%	86.79%	93.23%	-161.05%	-19.07%
Invested Capital Growth	67.10%	63.45%	65.97%	61.59%	1.19%	8.08%	8.07%	9.39%	12.33%	12.67%
Revenue Q/Q Growth	12.58%	-12.62%	-8.06%	28.43%	-0.44%	-15.78%	-7.38%	31.09%	-1.65%	-8.92%
EBITDA Q/Q Growth	-2.70%	-36.74%	-0.05%	45.08%	4.72%	-55.71%	18.90%	87.42%	15.57%	-20.10%
EBIT Q/Q Growth	-5.98%	-44.37%	0.46%	58.70%	5.63%	-65.86%	28.85%	121.17%	19.77%	-24.62%
NOPAT Q/Q Growth	-7.02%	-44.38%	0.22%	53.67%	9.49%	-70.12%	51.47%	113.69%	18.03%	-24.05%
Net Income Q/Q Growth	-2.91%	-46.15%	-4.85%	60.37%	8.63%	-68.54%	7.10%	181.00%	21.32%	-28.29%
EPS Q/Q Growth	-2.12%	-43.24%	-2.86%	61.76%	9.70%	-67.40%	5.08%	190.32%	23.33%	-29.73%
Operating Cash Flow Q/Q Growth	10.93%	-3.77%	-88.19%	844.95%	6.81%	-59.35%	-96.47%	6,324.70%	9.92%	-32.60%
Free Cash Flow Firm Q/Q Growth	-595.15%	-0.32%	-9.53%	11.37%	120.28%	-184.94%	13.46%	54.57%	-82.83%	-65.66%
Invested Capital Q/Q Growth	61.37%	-5.47%	5.86%	0.07%	1.05%	0.97%	5.85%	1.30%	3.76%	1.28%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	50.83%	41.47%	44.22%	47.26%	46.90%	39.49%	40.84%	48.11%	49.70%	47.87%
EBITDA Margin	39.59%	28.66%	31.16%	35.20%	37.02%	19.47%	24.99%	35.73%	41.99%	36.83%
Operating Margin	35.01%	21.23%	23.39%	29.10%	31.73%	10.53%	18.12%	30.48%	35.47%	30.59%
EBIT Margin	34.45%	21.93%	23.97%	29.61%	31.42%	12.74%	17.72%	29.89%	36.40%	30.13%
Profit (Net Income) Margin	24.88%	15.34%	15.87%	19.82%	21.62%	8.08%	9.34%	20.02%	24.70%	19.45%
Tax Burden Percent	75.36%	79.11%	78.26%	75.27%	75.91%	81.13%	77.12%	74.74%	77.08%	74.53%
Interest Burden Percent	95.84%	88.38%	84.62%	88.92%	90.67%	78.18%	68.37%	89.62%	88.03%	86.60%
Effective Tax Rate	24.64%	20.89%	21.74%	24.73%	24.09%	18.87%	22.88%	25.26%	22.92%	25.47%
Return on Invested Capital (ROIC)	32.14%	22.72%	24.79%	30.52%	27.24%	9.86%	15.23%	24.77%	29.06%	24.44%
ROIC Less NNEP Spread (ROIC-NNEP)	31.40%	22.08%	23.90%	29.49%	26.36%	9.73%	14.12%	23.96%	28.29%	23.56%
Return on Net Nonoperating Assets (RNNOA)	106.08%	86.74%	120.26%	108.48%	175.79%	127.09%	730.25%	-766.09%	-3,511.98%	-7,224.73%
Return on Equity (ROE)	138.22%	109.46%	145.05%	139.00%	203.04%	136.95%	745.48%	-741.31%	-3,482.92%	-7,200.28%
Cash Return on Invested Capital (CROIC)	-14.90%	-13.05%	-17.66%	-17.66%	22.04%	13.74%	11.53%	10.57%	8.45%	11.85%
Operating Return on Assets (OROA)	22.51%	15.25%	17.36%	21.53%	22.00%	8.75%	11.94%	19.86%	23.68%	19.39%
Return on Assets (ROA)	16.26%	10.66%	11.50%	14.41%	15.14%	5.55%	6.29%	13.30%	16.07%	12.52%
Return on Common Equity (ROCE)	138.22%	109.46%	145.05%	139.00%	203.04%	136.95%	745.48%	-741.31%	-3,482.92%	-7,200.28%
Return on Equity Simple (ROE_SIMPLE)	119.76%	0.00%	675.59%	541.45%	393.67%	0.00%	3,518.60%	-162.91%	-262.93%	0.00%
Net Operating Profit after Tax (NOPAT)	109	61	61	94	103	31	46	99	117	89
NOPAT Margin	26.38%	16.79%	18.31%	21.90%	24.09%	8.55%	13.97%	22.78%	27.34%	22.80%
Net Nonoperating Expense Percent (NNEP)	0.74%	0.64%	0.89%	1.03%	0.88%	0.13%	1.11%	0.81%	0.77%	0.88%
Return On Investment Capital (ROIC_SIMPLE)	-	4.48%	-	-	-	1.91%	-	-	-	5.16%
Cost of Revenue to Revenue	49.17%	58.53%	55.78%	52.74%	53.10%	60.51%	59.16%	51.89%	50.30%	52.13%
SG&A Expenses to Revenue	16.95%	6.43%	14.70%	13.67%	10.35%	18.05%	14.65%	14.94%	11.47%	14.67%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.82%	20.25%	20.83%	18.16%	15.17%	28.96%	22.72%	17.63%	14.24%	17.28%
Earnings before Interest and Taxes (EBIT)	143	79	80	127	134	46	59	130	156	117
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	164	104	104	150	158	70	83	155	180	144
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	21.12	38.10	126.72	108.26	84.43	157.09	930.96	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.54	4.20	4.03	3.85	3.95	3.62	4.06	3.69	3.95	4.19
Price to Earnings (P/E)	17.63	17.74	18.76	19.99	21.45	21.63	26.46	23.91	24.28	22.18
Dividend Yield	0.88%	0.86%	0.86%	0.86%	0.91%	1.02%	0.91%	0.97%	0.88%	0.81%
Earnings Yield	5.67%	5.64%	5.33%	5.00%	4.66%	4.62%	3.78%	4.18%	4.12%	4.51%
Enterprise Value to Invested Capital (EV/IC)	5.21	5.46	5.34	5.31	5.39	5.00	5.25	4.94	5.03	5.27
Enterprise Value to Revenue (EV/Rev)	5.35	5.01	4.92	4.70	4.79	4.50	5.01	4.74	5.01	5.21
Enterprise Value to EBITDA (EV/EBITDA)	12.35	12.74	13.46	13.85	14.39	14.43	16.77	15.79	15.95	14.70
Enterprise Value to EBIT (EV/EBIT)	14.13	14.89	16.03	16.87	17.69	18.01	21.19	19.97	19.93	17.87
Enterprise Value to NOPAT (EV/NOPAT)	18.44	19.30	20.87	22.27	23.34	24.14	28.29	26.39	26.54	23.51
Enterprise Value to Operating Cash Flow (EV/OCF)	17.55	19.13	23.07	21.68	21.25	23.42	26.99	25.86	27.22	25.85
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	24.59	37.80	47.32	48.80	62.99	47.16
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	4.07	7.78	29.34	25.39	19.27	44.05	252.00	-12.73	-18.83	-39.07
Long-Term Debt to Equity	4.06	7.76	29.25	25.31	19.21	30.02	177.75	-12.73	-18.83	-39.07
Financial Leverage	3.38	3.93	5.03	3.68	6.67	13.06	51.71	-31.98	-124.13	-306.59
Leverage Ratio	8.16	9.59	11.28	8.97	12.39	23.64	85.26	-50.70	-201.20	-509.18
Compound Leverage Factor	7.82	8.48	9.54	7.97	11.23	18.48	58.29	-45.44	-177.12	-440.96
Debt to Total Capital	80.28%	88.61%	96.70%	96.21%	95.07%	97.78%	99.60%	108.53%	105.61%	102.63%
Short-Term Debt to Total Capital	0.21%	0.22%	0.31%	0.31%	0.30%	31.13%	29.35%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	80.07%	88.39%	96.39%	95.91%	94.77%	66.65%	70.26%	108.53%	105.61%	102.63%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	19.72%	11.39%	3.30%	3.79%	4.93%	2.22%	0.40%	-8.53%	-5.61%	-2.63%
Debt to EBITDA	2.02	2.18	2.55	2.66	2.71	3.26	3.68	4.01	3.71	3.15
Net Debt to EBITDA	1.88	2.05	2.43	2.51	2.53	2.81	3.18	3.51	3.37	2.87
Long-Term Debt to EBITDA	2.01	2.18	2.55	2.65	2.70	2.22	2.60	4.01	3.71	3.15
Debt to NOPAT	3.01	3.31	3.96	4.28	4.39	5.45	6.21	6.71	6.18	5.03
Net Debt to NOPAT	2.80	3.11	3.77	4.03	4.10	4.71	5.36	5.87	5.60	4.59
Long-Term Debt to NOPAT	3.01	3.30	3.95	4.27	4.38	3.71	4.38	6.71	6.18	5.03
Altman Z-Score	3.70	3.59	3.61	3.65	3.65	2.83	2.95	3.10	3.21	3.38
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.08	0.80	0.92	0.86	0.84	0.31	0.37	0.99	0.71	0.73
Quick Ratio	0.94	0.71	0.81	0.76	0.75	0.26	0.31	0.90	0.61	0.63
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-437	-438	-480	-426	86	-73	-63	-29	-53	-87
Operating Cash Flow to CapEx	0.00%	0.00%	61.50%	435.35%	340.02%	141.55%	5.31%	274.41%	297.54%	267.36%
Free Cash Flow to Firm to Interest Expense	-46.68	-37.43	-34.10	-26.16	5.34	-5.71	-3.14	-1.21	-2.36	-4.14
Operating Cash Flow to Interest Expense	11.31	8.70	0.85	6.99	7.51	3.84	0.09	4.69	5.50	3.93
Operating Cash Flow Less CapEx to Interest Expense	21.07	8.88	-0.53	5.38	5.30	1.13	-1.54	2.98	3.65	2.46
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.65	0.70	0.72	0.73	0.70	0.69	0.67	0.66	0.65	0.64
Accounts Receivable Turnover	5.35	7.58	7.59	7.25	5.94	7.49	7.03	6.81	7.15	8.51
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	3.44	3.48	3.56	4.00	3.49	3.35	3.24	3.13	2.96	2.89
Accounts Payable Turnover	7.59	7.02	8.37	7.27	6.68	6.83	7.57	6.36	6.17	6.32
Days Sales Outstanding (DSO)	68.29	48.13	48.08	50.36	61.48	48.75	51.95	53.59	51.07	42.90
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	48.09	52.01	43.61	50.21	54.60	53.46	48.22	57.40	59.15	57.78
Cash Conversion Cycle (CCC)	20.20	-3.88	4.48	0.15	6.88	-4.71	3.73	-3.80	-8.08	-14.88
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,360	1,286	1,361	1,362	1,377	1,390	1,471	1,490	1,546	1,566
Invested Capital Turnover	1.22	1.35	1.35	1.39	1.13	1.15	1.09	1.09	1.06	1.07
Increase / (Decrease) in Invested Capital	546	499	541	519	16	104	110	128	170	176
Enterprise Value (EV)	7,084	7,023	7,271	7,228	7,418	6,946	7,727	7,354	7,781	8,258
Market Capitalization	6,008	5,892	5,957	5,921	6,114	5,592	6,263	5,717	6,138	6,646
Book Value per Share	$5.10	$2.90	$0.91	$1.07	$1.44	$0.71	$0.14	($3.05)	($2.04)	($0.97)
Tangible Book Value per Share	($11.95)	($15.13)	($17.95)	($18.24)	($18.44)	($19.99)	($21.48)	($24.92)	($25.00)	($24.51)
Total Capital	1,443	1,358	1,426	1,443	1,468	1,604	1,702	1,722	1,715	1,723
Total Debt	1,158	1,204	1,379	1,389	1,396	1,568	1,695	1,868	1,811	1,769
Total Long-Term Debt	1,155	1,201	1,375	1,384	1,391	1,069	1,196	1,868	1,811	1,769
Net Debt	1,076	1,131	1,314	1,308	1,304	1,354	1,464	1,637	1,642	1,611
Capital Expenditures (CapEx)	-91	-2.14	20	26	36	35	33	41	41	31
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-17	-127	-56	-90	-98	-174	-124	-155	-199	-164
Debt-free Net Working Capital (DFNWC)	36	-85	-24	-54	-62	-147	-82	-3.93	-140	-124
Net Working Capital (NWC)	33	-88	-28	-59	-66	-646	-581	-3.93	-140	-124
Net Nonoperating Expense (NNE)	6.21	5.28	8.10	8.91	10	1.67	15	12	11	13
Net Nonoperating Obligations (NNO)	1,076	1,131	1,314	1,308	1,304	1,354	1,464	1,637	1,642	1,611
Total Depreciation and Amortization (D&A)	21	24	24	24	24	24	24	25	24	26
Debt-free, Cash-free Net Working Capital to Revenue	-1.27%	-9.03%	-3.77%	-5.88%	-6.34%	-11.25%	-8.01%	-9.98%	-12.79%	-10.34%
Debt-free Net Working Capital to Revenue	2.70%	-6.06%	-1.63%	-3.52%	-3.99%	-9.51%	-5.28%	-0.25%	-9.02%	-7.80%
Net Working Capital to Revenue	2.47%	-6.28%	-1.93%	-3.81%	-4.28%	-41.85%	-37.65%	-0.25%	-9.02%	-7.80%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.87	$1.07	$1.02	$1.66	$1.83	$0.60	$0.63	$1.82	$2.24	$1.57
Adjusted Weighted Average Basic Shares Outstanding	53.30M	51.45M	50.99M	50.38M	49.80M	49.56M	48.16M	47.21M	46.91M	46.73M
Adjusted Diluted Earnings per Share	$1.85	$1.05	$1.02	$1.65	$1.81	$0.59	$0.62	$1.80	$2.22	$1.56
Adjusted Weighted Average Diluted Shares Outstanding	53.30M	51.45M	50.99M	50.38M	49.80M	49.56M	48.16M	47.21M	46.91M	46.73M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	53.30M	51.45M	50.99M	50.38M	49.80M	49.56M	48.16M	47.21M	46.91M	46.73M
Normalized Net Operating Profit after Tax (NOPAT)	109	61	69	101	111	51	59	100	118	88
Normalized NOPAT Margin	26.38%	16.79%	20.74%	23.56%	26.03%	14.24%	17.66%	22.93%	27.52%	22.70%
Pre Tax Income Margin	33.02%	19.38%	20.28%	26.33%	28.49%	9.96%	12.11%	26.79%	32.05%	26.09%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	15.24	6.78	5.66	7.78	8.27	3.55	2.91	5.46	6.96	5.57
NOPAT to Interest Expense	11.67	5.19	4.33	5.75	6.34	2.38	2.30	4.16	5.23	4.22
EBIT Less CapEx to Interest Expense	25.01	6.96	4.27	6.17	6.06	0.84	1.29	3.75	5.12	4.10
NOPAT Less CapEx to Interest Expense	21.44	5.37	2.94	4.15	4.13	-0.33	0.67	2.45	3.38	2.75
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	15.32%	15.82%	16.42%	18.11%	19.27%	21.84%	24.66%	24.16%	22.50%	18.52%
Augmented Payout Ratio	88.66%	146.71%	199.20%	238.99%	192.08%	162.17%	135.24%	200.23%	183.62%	145.58%

Frequently Asked Questions About Choice Hotels International's Financials

When does Choice Hotels International's financial year end?

According to the most recent income statement we have on file, Choice Hotels International's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Choice Hotels International's net income changed over the last 9 years?

Choice Hotels International's net income appears to be on an upward trend, with a most recent value of $299.67 million in 2024, rising from $128.03 million in 2015. The previous period was $258.51 million in 2023. See where experts think Choice Hotels International is headed by visiting Choice Hotels International's forecast page.

What is Choice Hotels International's operating income?

Choice Hotels International's total operating income in 2024 was $463.77 million, based on the following breakdown:

Total Gross Profit: $744.17 million
Total Operating Expenses: $280.39 million

How has Choice Hotels International revenue changed over the last 9 years?

Over the last 9 years, Choice Hotels International's total revenue changed from $859.88 million in 2015 to $1.58 billion in 2024, a change of 84.3%.

How much debt does Choice Hotels International have?

Choice Hotels International's total liabilities were at $2.58 billion at the end of 2024, a 9.2% increase from 2023, and a 131.4% increase since 2015.

How much cash does Choice Hotels International have?

In the past 9 years, Choice Hotels International's cash and equivalents has ranged from $26.64 million in 2018 to $511.61 million in 2021, and is currently $40.18 million as of their latest financial filing in 2024.

How has Choice Hotels International's book value per share changed over the last 9 years?

Over the last 9 years, Choice Hotels International's book value per share changed from -6.99 in 2015 to -0.97 in 2024, a change of -86.2%.

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This page (NYSE:CHH) was last updated on 5/6/2025 by MarketBeat.com Staff

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Choice Hotels International (CHH) Financials

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