Choice Hotels International (CHH) Financials

$106.09 -0.89 (-0.84%)

Closing price 05/14/2026 03:59 PM Eastern

Extended Trading

$105.30 -0.79 (-0.74%)

As of 04:10 AM 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	2025
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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	128	107	122	216	1,397	75	289	332	259	300	370
Consolidated Net Income / (Loss)	128	107	122	216	223	75	289	332	259	300	370
Net Income / (Loss) Continuing Operations	128	107	122	216	1,397	75	289	332	259	300	370
Total Pre-Tax Income	184	148	249	273	270	53	376	437	337	396	457
Total Operating Income	225	187	290	318	319	122	429	479	375	464	448
Total Gross Profit	860	808	941	1,041	2,274	311	600	700	792	845	842
Total Revenue	860	808	941	1,041	2,289	774	1,069	1,402	1,544	1,585	1,597
Operating Revenue	842	782	941	1,041	2,289	774	1,069	1,402	1,544	1,585	1,597
Total Cost of Revenue	0.00	0.00	0.00	0.00	14	463	470	702	752	739	755
Operating Cost of Revenue	-	-	0.00	0.00	14	463	470	702	752	739	755
Total Operating Expenses	635	621	652	723	782	189	171	221	417	382	393
Selling, General & Admin Expense	134	155	166	170	169	149	146	168	313	312	329
Depreciation Expense	12	7.00	6.68	14	19	26	25	30	45	52	60
Impairment Charge	-	0.00	0.00	4.29	10	15	0.28	0.00	3.74	0.00	0.00
Restructuring Charge	-	-	-	-	-	-	0.00	40	56	17	4.70
Other Special Charges / (Income)	0.00	-0.63	-0.26	-0.08	4.57	0.00	-0.01	-16	0.00	0.00	-0.71
Total Other Income / (Expense), net	-41	-39	-40	-45	-49	-69	-52	-42	-38	-68	7.78
Interest Expense	43	44	45	46	54	66	47	44	59	87	91
Interest & Investment Income	0.68	4.03	1.37	2.13	0.42	-7.60	-11	9.02	11	21	-8.09
Other Income / (Expense), net	0.82	1.50	3.23	-1.44	4.97	4.53	5.13	-7.02	11	-1.64	107
Income Tax Expense	56	41	127	57	47	-22	88	105	78	96	87
Basic Earnings per Share	-	-	-	-	$4.00	$1.36	$5.20	$6.05	$5.11	$6.26	$7.97
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	45.97M
Diluted Earnings per Share	-	-	-	-	$3.98	$1.35	$5.15	$5.99	$5.07	$6.20	$7.90
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	45.97M
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	45.97M
Cash Dividends to Common per Share	-	-	-	$0.86	$0.87	-	-	$0.95	$1.15	$1.15	$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 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	92	29	31	87	106	76	45	82	180	64	20
Consolidated Net Income / (Loss)	92	29	31	87	106	76	45	82	180	64	20
Net Income / (Loss) Continuing Operations	92	29	31	87	106	76	45	82	180	64	20
Total Pre-Tax Income	121	36	40	117	137	102	60	109	211	78	30
Total Operating Income	135	38	60	133	152	119	80	125	142	101	60
Total Gross Profit	200	142	161	235	235	187	168	228	239	207	155
Total Revenue	426	358	332	435	428	390	333	426	447	390	341
Operating Revenue	426	358	332	435	428	390	333	426	447	390	341
Total Cost of Revenue	226	217	171	200	193	203	165	199	208	183	185
Operating Cost of Revenue	226	217	171	200	193	203	165	199	208	183	185
Total Operating Expenses	65	104	101	102	83	67	88	103	97	105	95
Selling, General & Admin Expense	44	65	72	89	69	57	74	89	80	86	78
Depreciation Expense	9.63	10	13	13	13	11	14	13	16	17	17
Restructuring Charge	11	25	16	0.90	0.98	-0.49	0.10	0.35	1.49	2.76	0.24
Total Other Income / (Expense), net	-14	-2.06	-20	-16	-15	-18	-20	-16	69	-25	-30
Interest Expense	16	13	20	24	22	21	21	23	23	24	24
Interest & Investment Income	3.70	2.88	1.58	10	3.72	5.33	1.51	1.38	-9.47	-1.50	-5.04
Other Income / (Expense), net	-1.34	7.90	-1.34	-2.54	4.01	-1.77	-0.44	5.37	101	0.62	-0.72
Income Tax Expense	29	6.73	9.20	29	31	26	15	27	31	14	10
Basic Earnings per Share	$1.83	$0.60	$0.63	$1.82	$2.24	$1.57	$0.95	$1.76	$3.89	$1.37	$0.44
Weighted Average Basic Shares Outstanding	49.80M	49.56M	48.16M	47.21M	46.91M	46.73M	46.40M	46.27M	46.27M	45.97M	45.50M
Diluted Earnings per Share	$1.81	$0.59	$0.62	$1.80	$2.22	$1.56	$0.94	$1.75	$3.86	$1.35	$0.44
Weighted Average Diluted Shares Outstanding	49.80M	49.56M	48.16M	47.21M	46.91M	46.73M	46.40M	46.27M	46.27M	45.97M	45.50M
Weighted Average Basic & Diluted Shares Outstanding	49.80M	49.56M	48.16M	47.21M	46.91M	46.73M	46.40M	46.27M	46.27M	45.97M	45.50M
Cash Dividends to Common per Share	$0.29	-	$0.29	$0.29	$0.29	-	$0.29	$0.29	$0.29	-	$0.29

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	2025
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	12/31/2025
Net Change in Cash & Equivalents	-19	9.48	31	-208	6.89	201	277	-470	-15	13	2.08
Net Cash From Operating Activities	165	152	257	243	271	110	384	367	297	319	270
Net Cash From Continuing Operating Activities	165	152	257	243	271	110	384	367	297	319	270
Net Income / (Loss) Continuing Operations	128	107	122	216	223	75	289	332	259	300	370
Consolidated Net Income / (Loss)	128	107	122	216	223	75	289	332	259	300	370
Depreciation Expense	12	28	27	34	36	48	50	64	76	71	79
Amortization Expense	-	6.42	7.19	9.24	7.99	11	13	16	20	29	32
Non-Cash Adjustments To Reconcile Net Income	18	2.81	3.30	-22	7.34	13	8.79	-20	-63	-78	-133
Changes in Operating Assets and Liabilities, net	7.01	8.43	97	5.00	-3.77	-38	22	-25	4.79	-1.63	-78
Net Cash From Investing Activities	-100	-98	-90	-321	-251	-24	-79	-442	-266	-85	-218
Net Cash From Continuing Investing Activities	-100	-98	-90	-321	-251	-24	-79	-442	-266	-85	-218
Purchase of Property, Plant & Equipment	-37	-54	-23	-51	-57	-34	-74	-90	-116	-146	-146
Acquisitions	-38	-39	-53	-243	-176	-1.36	-3.57	-550	0.00	0.00	-73
Purchase of Investments	-3.22	-1.66	-2.45	-2.90	-31	-8.02	-4.48	-3.15	-151	-53	-94
Sale of Property, Plant & Equipment	6.35	11	1.00	3.05	11	0.00	6.12	167	0.00	0.00	52
Divestitures	-	-	0.00	0.00	19	11	16	45	0.87	16	45
Sale and/or Maturity of Investments	8.02	13	7.47	9.25	16	8.97	2.82	0.98	11	140	7.37
Other Investing Activities, net	-36	-29	-20	-37	-33	-1.27	-21	-11	-9.72	-42	-9.39
Net Cash From Financing Activities	-85	-44	-136	-129	-12	115	-28	-394	-46	-222	-50
Net Cash From Continuing Financing Activities	-85	-44	-136	-129	-12	115	-28	-394	-46	-222	-50
Repayment of Debt	-133	-1.27	-116	-3.19	-333	-511	-0.37	-273	-133	-397	133
Repurchase of Common Equity	-73	-36	-9.81	-149	-51	-55	-13	-435	-363	-381	-138
Payment of Dividends	-45	-46	-49	-49	-48	-25	-25	-53	-56	-55	-53
Issuance of Debt	159	26	0.00	30	422	697	0.00	360	500	594	0.00
Other Financing Activities, net	7.10	14	38	42	-3.00	10	11	5.75	6.35	18	8.69
Cash Interest Paid	40	42	42	43	48	45	44	47	61	67	90
Cash Income Taxes Paid	55	66	39	77	42	8.61	107	116	94	86	65

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 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	0.46	-9.93	15	18	-1.99	-18	-0.28	18	-7.72	-7.89	-1.07
Net Cash From Operating Activities	121	49	1.74	112	123	83	20	96	69	86	-23
Net Cash From Continuing Operating Activities	121	49	1.74	112	123	83	20	96	69	86	-23
Net Income / (Loss) Continuing Operations	92	29	31	87	106	76	45	82	180	64	20
Consolidated Net Income / (Loss)	92	29	31	87	106	76	45	82	180	64	20
Depreciation Expense	19	19	18	18	17	18	19	18	21	22	22
Amortization Expense	5.24	5.41	6.19	7.81	6.59	8.12	9.79	7.47	7.76	6.95	9.58
Non-Cash Adjustments To Reconcile Net Income	-16	-22	-19	-14	-26	-19	-15	-8.49	-102	-7.15	-26
Changes in Operating Assets and Liabilities, net	21	18	-34	14	19	0.02	-38	-3.08	-37	0.17	-49
Net Cash From Investing Activities	-44	-162	-43	-19	-1.33	-21	-53	-42	-83	-40	-6.18
Net Cash From Continuing Investing Activities	-44	-162	-43	-19	-1.33	-21	-53	-42	-83	-40	-6.18
Purchase of Property, Plant & Equipment	-36	-35	-33	-41	-41	-31	-46	-38	-28	-34	-27
Purchase of Investments	-9.72	-123	-9.32	-11	-29	-2.57	-5.42	-3.94	-81	-3.67	-3.86
Sale and/or Maturity of Investments	0.79	-0.33	2.11	17	92	28	1.49	1.29	0.26	4.34	25
Other Investing Activities, net	1.04	-5.95	-2.76	-0.47	-23	-17	-3.02	-1.54	2.68	-7.51	-0.04
Net Cash From Financing Activities	-77	103	56	-75	-124	-80	32	-35	6.31	-53	28
Net Cash From Continuing Financing Activities	-77	103	56	-75	-124	-80	32	-35	6.31	-53	28
Repurchase of Common Equity	-70	-58	-59	-233	-56	-32	-65	-48	-0.20	-25	-56
Payment of Dividends	-15	-14	-15	-14	-14	-13	-13	-13	-13	-13	-13
Issuance of Debt	6.50	177	127	175	447	-43	106	25	18	-148	97
Other Financing Activities, net	1.10	-0.37	4.16	0.10	5.02	8.25	4.80	1.58	1.35	0.95	0.88
Cash Interest Paid	16	16	20	23	13	11	32	13	31	14	32
Cash Income Taxes Paid	38	24	2.33	27	36	43	3.03	39	34	-11	3.96

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	2025
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	12/31/2025
Total Assets	717	852	995	1,138	1,387	1,587	1,932	2,102	2,395	2,531	2,918
Total Current Assets	311	345	400	244	237	433	762	348	297	339	406
Cash & Equivalents	193	202	235	27	34	235	512	42	27	40	45
Note & Lease Receivable	5.11	7.87	13	37	25	24	54	52	21	76	95
Accounts Receivable	89	107	126	138	142	150	153	217	196	177	207
Prepaid Expenses	-	-	-	-	-	20	30	33	39	41	45
Current Deferred & Refundable Income Taxes	5.49	0.32	0.00	10	11	4.19	13	4.76	14	5.42	13
Plant, Property, & Equipment, net	88	84	83	128	352	335	377	427	493	604	649
Total Noncurrent Assets	318	424	511	767	799	820	793	1,327	1,605	1,587	1,863
Long-Term Investments	85	112	155	128	104	58	28	31	187	117	135
Noncurrent Note & Lease Receivables	83	111	80	83	103	96	66	56	79	33	12
Goodwill	79	79	81	169	159	159	159	219	220	220	306
Intangible Assets	12	16	100	271	290	304	312	742	811	884	1,082
Noncurrent Deferred & Refundable Income Taxes	42	53	27	31	21	68	69	88	90	108	75
Employee Benefit Assets	-	-	-	-	-	29	34	32	40	48	50
Other Noncurrent Operating Assets	17	54	68	84	122	106	124	160	178	177	202
Total Liabilities & Shareholders' Equity	717	852	995	1,138	1,387	1,587	1,932	2,102	2,395	2,531	2,918
Total Liabilities	1,113	1,164	1,254	1,322	1,410	1,593	1,666	1,948	2,359	2,576	2,737
Total Current Liabilities	208	264	285	318	326	256	570	436	943	463	467
Accounts Payable	64	48	68	74	73	83	81	119	131	135	156
Accrued Expenses	71	80	84	93	90	79	104	131	109	137	125
Current Deferred Revenue	72	133	-	-	72	50	82	93	108	102	101
Other Current Liabilities	-	-	131	151	83	43	87	90	95	89	85
Total Noncurrent Liabilities	905	900	969	1,004	1,084	1,337	1,096	1,512	1,417	2,113	2,270
Long-Term Debt	813	839	725	754	844	1,059	844	1,201	1,069	1,769	1,906
Noncurrent Deferred Revenue	-	0.00	29	26	139	146	126	150	142	173	131
Noncurrent Deferred & Payable Income Tax Liabilities	0.51	0.29	0.04	-	-	-	-	-	-	0.00	25
Noncurrent Employee Benefit Liabilities	23	22	26	24	30	34	39	37	46	53	57
Other Noncurrent Operating Liabilities	69	39	189	200	71	99	86	125	160	118	151
Commitments & Contingencies	0.00	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	181
Total Preferred & Common Equity	-396	-311	-259	-184	-24	-5.75	266	155	36	-45	181
Total Common Equity	-396	-311	-259	-184	-24	-5.75	266	155	36	-45	181
Common Stock	151	160	183	214	232	235	260	299	332	371	405
Retained Earnings	515	608	627	795	969	1,025	1,275	1,556	1,756	2,001	2,318
Treasury Stock	-1,053	-1,070	-1,065	-1,188	-1,220	-1,260	-1,265	-1,695	-2,047	-2,412	-2,536
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	-5.31

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	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	2,189	2,106	2,150	2,232	2,475	2,519	2,544	2,578	2,665	2,908	2,945
Total Current Assets	459	341	348	353	339	448	339	358	401	450	411
Cash & Equivalents	53	32	36	36	42	60	59	40	59	53	44
Note & Lease Receivable	52	53	53	53	22	22	22	76	75	96	55
Accounts Receivable	298	214	220	224	225	235	211	194	218	236	244
Prepaid Expenses	56	37	34	34	41	31	43	44	41	45	54
Current Deferred & Refundable Income Taxes	0.51	4.74	5.14	5.74	8.56	9.70	4.21	4.14	8.12	20	14
Plant, Property, & Equipment, net	417	434	449	470	518	541	580	632	661	628	650
Total Noncurrent Assets	1,312	1,331	1,353	1,410	1,619	1,530	1,625	1,588	1,603	1,829	1,884
Long-Term Investments	30	33	45	55	189	81	110	122	125	134	133
Noncurrent Note & Lease Receivables	54	56	50	50	77	78	100	33	34	16	27
Goodwill	228	220	220	220	220	220	220	220	220	305	305
Intangible Assets	724	750	764	781	821	833	864	881	882	1,046	1,096
Noncurrent Deferred & Refundable Income Taxes	91	81	86	92	90	92	111	108	108	88	77
Employee Benefit Assets	29	35	36	36	44	45	48	44	48	49	48
Other Noncurrent Operating Assets	157	156	151	175	178	180	174	180	185	191	198
Total Liabilities & Shareholders' Equity	2,189	2,106	2,150	2,232	2,475	2,519	2,544	2,578	2,665	2,908	2,945
Total Liabilities	1,904	2,059	2,096	2,160	2,468	2,666	2,640	2,642	2,691	2,758	2,807
Total Current Liabilities	426	370	407	419	920	452	479	427	452	469	434
Accounts Payable	130	93	121	124	135	151	153	122	143	154	146
Accrued Expenses	125	79	99	97	70	97	122	101	117	115	87
Current Deferred Revenue	86	104	87	86	116	106	103	116	106	109	113
Other Current Liabilities	82	90	96	108	99	98	101	89	87	90	88
Total Noncurrent Liabilities	1,478	1,690	1,689	1,741	1,549	2,214	2,161	2,214	2,239	2,289	2,373
Long-Term Debt	1,155	1,375	1,384	1,391	1,196	1,868	1,811	1,875	1,900	1,919	2,003
Noncurrent Deferred Revenue	199	196	55	53	186	132	132	131	129	177	130
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	-	-	23	34
Noncurrent Employee Benefit Liabilities	43	40	41	41	49	51	53	50	54	55	54
Other Noncurrent Operating Liabilities	81	78	208	255	118	162	165	158	156	115	152
Commitments & Contingencies	0.00	0.00	0.00	0.00	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	-64	-26	150	137
Total Preferred & Common Equity	285	47	55	72	6.73	-147	-96	-64	-26	150	137
Total Common Equity	285	47	55	72	6.73	-147	-96	-64	-26	150	137
Common Stock	285	301	312	323	337	345	357	377	388	399	409
Retained Earnings	1,513	1,594	1,664	1,742	1,773	1,847	1,939	2,032	2,101	2,268	2,325
Treasury Stock	-1,507	-1,843	-1,917	-1,987	-2,098	-2,333	-2,387	-2,467	-2,511	-2,511	-2,588
Accumulated Other Comprehensive Income / (Loss)	-5.71	-4.82	-4.52	-4.71	-5.22	-5.91	-5.38	-6.13	-4.05	-5.61	-8.18

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	2025
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	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	13.44%	-6.04%	16.51%	10.62%	119.80%	-66.18%	38.14%	31.11%	10.14%	2.63%	0.75%
EBITDA Growth	6.34%	-6.33%	47.04%	10.03%	2.06%	-49.41%	167.67%	10.72%	-12.65%	16.67%	18.69%
EBIT Growth	5.60%	-16.62%	55.33%	8.25%	2.04%	-60.99%	243.95%	8.64%	-18.22%	19.82%	20.18%
NOPAT Growth	4.53%	-14.06%	5.51%	77.36%	4.31%	-34.21%	90.25%	10.55%	-20.94%	22.09%	3.36%
Net Income Growth	3.95%	-16.65%	14.63%	76.87%	3.02%	-66.18%	283.30%	14.95%	-22.17%	15.92%	23.45%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-66.08%	281.48%	16.31%	-15.36%	22.29%	27.42%
Operating Cash Flow Growth	-12.01%	-7.90%	69.29%	-5.63%	11.39%	-59.32%	248.62%	-4.34%	-19.21%	7.70%	-15.33%
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%	-87.58%
Invested Capital Growth	91.23%	53.46%	-63.94%	436.34%	66.12%	10.08%	3.48%	63.45%	8.08%	12.67%	21.79%
Revenue Q/Q Growth	3.06%	-12.88%	16.03%	2.31%	109.65%	-61.73%	9.33%	5.84%	-0.23%	2.02%	0.02%
EBITDA Q/Q Growth	1.02%	-9.74%	22.26%	-3.73%	6.18%	-19.42%	21.80%	-3.91%	-6.59%	15.12%	-1.84%
EBIT Q/Q Growth	0.94%	-19.84%	28.25%	-4.91%	6.95%	-28.50%	25.81%	-5.91%	-8.05%	18.40%	-2.69%
NOPAT Q/Q Growth	2.57%	-18.19%	-10.55%	25.16%	3.83%	-2.15%	22.69%	-5.28%	-9.47%	19.80%	-1.95%
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%	-3.17%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-31.12%	24.10%	-1.48%	-8.32%	18.55%	-2.59%
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%	1.06%
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%	-38.37%
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%	1.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	99.37%	40.20%	56.07%	49.93%	44.70%	46.96%	52.72%
EBITDA Margin	27.64%	27.56%	34.78%	34.59%	16.06%	24.02%	46.55%	39.31%	31.18%	35.44%	41.75%
Operating Margin	26.20%	23.15%	30.77%	30.58%	13.92%	15.72%	40.11%	34.14%	24.29%	29.26%	28.08%
EBIT Margin	26.30%	23.34%	31.11%	30.45%	14.13%	16.30%	40.59%	33.64%	24.98%	29.16%	34.78%
Profit (Net Income) Margin	14.89%	13.21%	13.00%	20.78%	9.74%	9.74%	27.02%	23.69%	16.74%	18.91%	23.17%
Tax Burden Percent	69.59%	72.03%	49.08%	79.18%	82.57%	142.22%	76.75%	76.04%	76.72%	75.74%	80.97%
Interest Burden Percent	81.36%	78.56%	85.09%	86.19%	83.44%	42.00%	86.74%	92.63%	87.37%	85.61%	82.26%
Effective Tax Rate	30.41%	27.97%	50.92%	20.82%	17.43%	-42.22%	23.25%	23.96%	23.28%	24.26%	19.03%
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%	20.91%
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%	21.32%
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%	523.30%
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%	544.21%
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%	1.25%
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%	20.39%
Return on Assets (ROA)	18.90%	13.60%	13.24%	20.28%	17.65%	5.07%	16.42%	16.47%	11.50%	12.17%	13.58%
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%	544.21%
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%	0.00%
Net Operating Profit after Tax (NOPAT)	157	135	142	252	263	173	329	364	288	351	363
NOPAT Margin	18.23%	16.68%	15.10%	24.22%	11.49%	22.35%	30.79%	25.96%	18.63%	22.16%	22.74%
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%	-0.41%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	26.80%	17.94%	20.38%	17.39%
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%	47.28%
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%	20.60%
R&D to Revenue	0.00%	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%	24.59%
Earnings before Interest and Taxes (EBIT)	226	189	293	317	324	126	434	472	386	462	555
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	238	223	327	360	368	186	498	551	481	562	667
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	24.25
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	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	2.75
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	11.88
Dividend Yield	1.70%	1.58%	1.17%	1.25%	0.87%	0.85%	0.30%	0.86%	1.02%	0.81%	1.21%
Earnings Yield	4.87%	3.62%	2.94%	5.63%	25.01%	1.31%	3.41%	5.64%	4.62%	4.51%	8.42%
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	3.21
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	3.83
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	9.18
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	11.02
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	16.86
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	22.63
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	281.38
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	10.52
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	10.52
Financial Leverage	-1.26	-1.50	-1.51	-2.12	-6.34	-50.59	4.95	3.93	13.06	-306.59	24.55
Leverage Ratio	-1.64	-2.22	-3.24	-4.82	-12.18	-101.63	13.53	9.59	23.64	-509.18	40.08
Compound Leverage Factor	-1.34	-1.74	-2.76	-4.16	-10.16	-42.69	11.73	8.89	20.65	-435.93	32.97
Debt to Total Capital	194.66%	158.83%	155.27%	132.19%	102.84%	100.55%	79.95%	88.61%	97.78%	102.63%	91.32%
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%	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%	91.32%
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%	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%	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%	8.68%
Debt to EBITDA	3.43	3.78	2.22	2.10	2.32	5.69	2.13	2.18	3.26	3.15	2.86
Net Debt to EBITDA	2.26	2.36	1.03	1.66	1.94	4.12	1.05	2.05	2.81	2.87	2.59
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	2.86
Debt to NOPAT	5.19	6.24	5.11	2.99	3.24	6.12	3.22	3.31	5.45	5.03	5.25
Net Debt to NOPAT	3.42	3.91	2.36	2.38	2.72	4.43	1.58	3.11	4.71	4.59	4.75
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	5.25
Altman Z-Score	4.84	4.31	4.93	4.48	5.70	3.96	5.39	4.21	3.30	3.83	3.23
Noncontrolling Interest Sharing Ratio	0.00%	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	0.87
Quick Ratio	1.38	1.20	1.32	0.63	0.62	1.60	1.26	0.71	0.26	0.63	0.74
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	90	60	280	-86	-12	103	303	-135	184	175	22
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%	288.34%
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	0.24
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	2.97
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	1.94
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.27	1.03	1.02	0.98	1.81	0.52	0.61	0.70	0.69	0.64	0.59
Accounts Receivable Turnover	9.50	8.22	8.07	7.89	16.37	5.31	7.06	7.58	7.49	8.51	8.31
Inventory Turnover	0.00	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	2.55
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.20	5.91	5.71	7.02	6.83	6.32	5.19
Days Sales Outstanding (DSO)	38.42	44.43	45.21	46.25	22.29	68.72	51.73	48.13	48.75	42.90	43.91
Days Inventory Outstanding (DIO)	0.00	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	70.37
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	-26.47
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	140	215	78	416	691	760	787	1,286	1,390	1,566	1,907
Invested Capital Turnover	8.06	4.55	6.44	4.22	4.14	1.07	1.38	1.35	1.15	1.07	0.92
Increase / (Decrease) in Invested Capital	67	75	-137	338	275	70	26	499	104	176	341
Enterprise Value (EV)	3,166	3,472	4,504	4,445	6,300	6,523	8,992	7,023	6,946	8,258	6,121
Market Capitalization	2,630	2,946	4,168	3,845	5,586	5,757	8,471	5,892	5,592	6,646	4,395
Book Value per Share	($6.99)	($5.55)	($4.57)	($3.28)	($0.42)	($0.10)	$4.78	$2.90	$0.71	($0.97)	$3.92
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)	($26.08)
Total Capital	418	529	468	571	828	1,053	1,326	1,358	1,604	1,723	2,087
Total Debt	814	841	727	755	852	1,059	1,060	1,204	1,568	1,769	1,906
Total Long-Term Debt	813	839	725	754	844	1,059	844	1,201	1,069	1,769	1,906
Net Debt	536	526	336	600	714	766	521	1,131	1,354	1,611	1,726
Capital Expenditures (CapEx)	31	42	22	48	47	34	68	-77	116	146	94
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-89	-120	-118	-100	-116	-58	-104	-127	-174	-164	-106
Debt-free Net Working Capital (DFNWC)	104	82	117	-74	-82	177	408	-85	-147	-124	-61
Net Working Capital (NWC)	103	81	116	-75	-89	177	191	-88	-646	-124	-61
Net Nonoperating Expense (NNE)	29	28	20	36	40	98	40	32	29	52	-6.88
Net Nonoperating Obligations (NNO)	536	526	336	600	714	766	521	1,131	1,354	1,611	1,726
Total Depreciation and Amortization (D&A)	12	34	34	43	44	60	64	80	96	100	111
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%	-6.66%
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%	-3.84%
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%	-3.84%
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	$7.97
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	45.97M
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	$7.90
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	45.97M
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	$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	45.97M
Normalized Net Operating Profit after Tax (NOPAT)	157	134	203	255	275	95	329	382	333	364	366
Normalized NOPAT Margin	18.23%	16.62%	21.52%	24.54%	12.03%	12.34%	30.81%	27.22%	21.59%	22.99%	22.94%
Pre Tax Income Margin	21.40%	18.34%	26.48%	26.24%	11.79%	6.85%	35.21%	31.16%	21.82%	24.96%	28.61%
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	6.09
NOPAT to Interest Expense	3.66	3.03	3.16	5.49	4.87	2.64	7.05	8.31	4.85	4.02	3.98
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	5.06
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	2.95
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%	14.45%
Augmented Payout Ratio	92.23%	76.94%	47.79%	91.24%	44.30%	107.08%	13.29%	146.71%	162.17%	145.58%	51.84%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	45,971,393.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	45,971,393.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.44
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.73%	-0.99%	-0.25%	1.81%	0.57%	8.75%	0.27%	-2.00%	4.53%	0.10%	2.32%
EBITDA Growth	-3.95%	-32.74%	-20.00%	3.35%	14.06%	105.76%	30.09%	-0.05%	51.52%	-8.71%	-15.84%
EBIT Growth	-6.32%	-42.51%	-26.26%	2.77%	16.53%	157.31%	35.17%	-0.08%	56.53%	-13.09%	-25.39%
NOPAT Growth	-6.21%	-49.62%	-23.86%	5.88%	14.13%	190.14%	28.41%	-5.41%	3.88%	-6.30%	-32.48%
Net Income Growth	-10.73%	-47.84%	-41.29%	2.86%	14.88%	161.82%	43.62%	-6.20%	70.26%	-15.99%	-54.41%
EPS Growth	-2.16%	-43.81%	-39.22%	9.09%	22.65%	164.41%	51.61%	-2.78%	73.87%	-13.46%	-53.19%
Operating Cash Flow Growth	14.74%	-51.54%	-85.53%	-1.63%	1.23%	67.86%	1,075.59%	-14.53%	-44.13%	3.41%	-213.23%
Free Cash Flow Firm Growth	119.75%	83.28%	86.79%	93.23%	-161.05%	-19.07%	-85.96%	-267.02%	-305.05%	-195.61%	-133.10%
Invested Capital Growth	1.19%	8.08%	8.07%	9.39%	12.33%	12.67%	12.07%	13.39%	21.66%	21.79%	19.12%
Revenue Q/Q Growth	-0.44%	-15.78%	-7.38%	31.09%	-1.65%	-8.92%	-14.60%	28.11%	4.90%	-12.78%	-12.71%
EBITDA Q/Q Growth	4.72%	-55.71%	18.90%	87.42%	15.57%	-20.10%	-24.83%	44.00%	75.20%	-51.86%	-30.70%
EBIT Q/Q Growth	5.63%	-65.86%	28.85%	121.17%	19.77%	-24.62%	-32.31%	63.49%	87.64%	-58.15%	-41.89%
NOPAT Q/Q Growth	9.49%	-70.12%	51.47%	113.69%	18.03%	-24.05%	-32.96%	57.42%	29.62%	-31.50%	-51.70%
Net Income Q/Q Growth	8.63%	-68.54%	7.10%	181.00%	21.32%	-28.29%	-41.25%	83.53%	120.22%	-64.62%	-68.12%
EPS Q/Q Growth	9.70%	-67.40%	5.08%	190.32%	23.33%	-29.73%	-39.74%	86.17%	120.57%	-65.03%	-67.41%
Operating Cash Flow Q/Q Growth	6.81%	-59.35%	-96.47%	6,324.70%	9.92%	-32.60%	-75.30%	367.11%	-28.15%	24.75%	-127.04%
Free Cash Flow Firm Q/Q Growth	120.28%	-184.94%	13.46%	54.57%	-82.83%	-65.66%	-35.15%	10.33%	-101.77%	-20.90%	-6.57%
Invested Capital Q/Q Growth	1.05%	0.97%	5.85%	1.30%	3.76%	1.28%	5.28%	2.49%	11.33%	1.39%	2.97%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	46.90%	39.49%	40.84%	48.11%	49.70%	47.87%	50.47%	53.39%	53.49%	53.02%	45.55%
EBITDA Margin	37.02%	19.47%	24.99%	35.73%	41.99%	36.83%	32.42%	36.44%	60.86%	33.59%	26.67%
Operating Margin	31.73%	10.53%	18.12%	30.48%	35.47%	30.59%	24.01%	29.22%	31.84%	26.00%	17.63%
EBIT Margin	31.42%	12.74%	17.72%	29.89%	36.40%	30.13%	23.88%	30.48%	54.52%	26.16%	17.42%
Profit (Net Income) Margin	21.62%	8.08%	9.34%	20.02%	24.70%	19.45%	13.38%	19.17%	40.24%	16.32%	5.96%
Tax Burden Percent	75.91%	81.13%	77.12%	74.74%	77.08%	74.53%	74.52%	75.25%	85.34%	82.06%	66.99%
Interest Burden Percent	90.67%	78.18%	68.37%	89.62%	88.03%	86.60%	75.18%	83.57%	86.49%	76.03%	51.10%
Effective Tax Rate	24.09%	18.87%	22.88%	25.26%	22.92%	25.47%	25.48%	24.75%	14.66%	17.94%	33.01%
Return on Invested Capital (ROIC)	27.24%	9.86%	15.23%	24.77%	29.06%	24.44%	18.19%	21.81%	25.31%	19.62%	10.49%
ROIC Less NNEP Spread (ROIC-NNEP)	26.36%	9.73%	14.12%	23.96%	28.29%	23.56%	17.24%	21.09%	28.77%	18.45%	9.36%
Return on Net Nonoperating Assets (RNNOA)	175.79%	127.09%	730.25%	-766.09%	-3,511.98%	-7,224.73%	-957.71%	-408.73%	1,810.46%	452.84%	450.92%
Return on Equity (ROE)	203.04%	136.95%	745.48%	-741.31%	-3,482.92%	-7,200.28%	-939.52%	-386.92%	1,835.77%	472.46%	461.41%
Cash Return on Invested Capital (CROIC)	22.04%	13.74%	11.53%	10.57%	8.45%	11.85%	12.00%	10.05%	2.06%	1.25%	1.74%
Operating Return on Assets (OROA)	22.00%	8.75%	11.94%	19.86%	23.68%	19.39%	14.99%	18.54%	31.93%	15.33%	10.12%
Return on Assets (ROA)	15.14%	5.55%	6.29%	13.30%	16.07%	12.52%	8.40%	11.66%	23.57%	9.57%	3.46%
Return on Common Equity (ROCE)	203.04%	136.95%	745.48%	-741.31%	-3,482.92%	-7,200.28%	-939.52%	-386.92%	1,835.77%	472.46%	461.41%
Return on Equity Simple (ROE_SIMPLE)	393.67%	0.00%	3,518.60%	-162.91%	-262.93%	0.00%	-489.86%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	103	31	46	99	117	89	60	94	122	83	40
NOPAT Margin	24.09%	8.55%	13.97%	22.78%	27.34%	22.80%	17.89%	21.99%	27.17%	21.34%	11.81%
Net Nonoperating Expense Percent (NNEP)	0.88%	0.13%	1.11%	0.81%	0.77%	0.88%	0.95%	0.72%	-3.47%	1.17%	1.13%
Return On Investment Capital (ROIC_SIMPLE)	-	1.91%	-	-	-	5.16%	3.29%	5.00%	5.88%	3.99%	1.88%
Cost of Revenue to Revenue	53.10%	60.51%	59.16%	51.89%	50.30%	52.13%	49.53%	46.61%	46.51%	46.99%	54.45%
SG&A Expenses to Revenue	10.35%	18.05%	14.65%	14.94%	11.47%	14.67%	22.29%	20.94%	17.80%	22.00%	22.92%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.17%	28.96%	22.72%	17.63%	14.24%	17.28%	26.45%	24.17%	21.65%	26.83%	27.92%
Earnings before Interest and Taxes (EBIT)	134	46	59	130	156	117	79	130	244	102	59
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	158	70	83	155	180	144	108	155	272	131	91
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	84.43	157.09	930.96	0.00	0.00	0.00	0.00	0.00	32.94	24.25	34.53
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	0.00
Price to Revenue (P/Rev)	3.95	3.62	4.06	3.69	3.95	4.19	3.90	3.72	3.09	2.75	2.96
Price to Earnings (P/E)	21.45	21.63	26.46	23.91	24.28	22.18	19.77	19.08	12.91	11.88	13.72
Dividend Yield	0.91%	1.02%	0.91%	0.97%	0.88%	0.81%	0.87%	0.91%	1.08%	1.21%	1.11%
Earnings Yield	4.66%	4.62%	3.78%	4.18%	4.12%	4.51%	5.06%	5.24%	7.74%	8.42%	7.29%
Enterprise Value to Invested Capital (EV/IC)	5.39	5.00	5.25	4.94	5.03	5.27	4.79	4.49	3.54	3.21	3.35
Enterprise Value to Revenue (EV/Rev)	4.79	4.50	5.01	4.74	5.01	5.21	4.98	4.81	4.17	3.83	4.10
Enterprise Value to EBITDA (EV/EBITDA)	14.39	14.43	16.77	15.79	15.95	14.70	13.47	12.94	9.81	9.18	10.12
Enterprise Value to EBIT (EV/EBIT)	17.69	18.01	21.19	19.97	19.93	17.87	16.37	15.72	11.68	11.02	12.28
Enterprise Value to NOPAT (EV/NOPAT)	23.34	24.14	28.29	26.39	26.54	23.51	21.67	21.12	18.00	16.86	18.96
Enterprise Value to Operating Cash Flow (EV/OCF)	21.25	23.42	26.99	25.86	27.22	25.85	23.38	23.58	24.90	22.63	28.97
Enterprise Value to Free Cash Flow (EV/FCFF)	24.59	37.80	47.32	48.80	62.99	47.16	42.22	47.48	188.82	281.38	209.62
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	19.27	44.05	252.00	-12.73	-18.83	-39.07	-29.32	-72.42	12.81	10.52	14.58
Long-Term Debt to Equity	19.21	30.02	177.75	-12.73	-18.83	-39.07	-29.32	-72.42	12.81	10.52	14.58
Financial Leverage	6.67	13.06	51.71	-31.98	-124.13	-306.59	-55.54	-19.38	62.92	24.55	48.16
Leverage Ratio	12.39	23.64	85.26	-50.70	-201.20	-509.18	-88.32	-29.96	101.67	40.08	75.14
Compound Leverage Factor	11.23	18.48	58.29	-45.44	-177.12	-440.96	-66.40	-25.04	87.93	30.47	38.40
Debt to Total Capital	95.07%	97.78%	99.60%	108.53%	105.61%	102.63%	103.53%	101.40%	92.76%	91.32%	93.58%
Short-Term Debt to Total Capital	0.30%	31.13%	29.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	94.77%	66.65%	70.26%	108.53%	105.61%	102.63%	103.53%	101.40%	92.76%	91.32%	93.58%
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%	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%	0.00%
Common Equity to Total Capital	4.93%	2.22%	0.40%	-8.53%	-5.61%	-2.63%	-3.53%	-1.40%	7.24%	8.68%	6.42%
Debt to EBITDA	2.71	3.26	3.68	4.01	3.71	3.15	3.20	3.24	2.82	2.86	3.08
Net Debt to EBITDA	2.53	2.81	3.18	3.51	3.37	2.87	2.92	2.93	2.55	2.59	2.81
Long-Term Debt to EBITDA	2.70	2.22	2.60	4.01	3.71	3.15	3.20	3.24	2.82	2.86	3.08
Debt to NOPAT	4.39	5.45	6.21	6.71	6.18	5.03	5.14	5.29	5.18	5.25	5.78
Net Debt to NOPAT	4.10	4.71	5.36	5.87	5.60	4.59	4.70	4.77	4.68	4.75	5.27
Long-Term Debt to NOPAT	4.38	3.71	4.38	6.71	6.18	5.03	5.14	5.29	5.18	5.25	5.78
Altman Z-Score	3.65	2.83	2.95	3.10	3.21	3.38	3.19	3.14	2.98	2.71	2.72
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.84	0.31	0.37	0.99	0.71	0.73	0.84	0.89	0.96	0.87	0.95
Quick Ratio	0.75	0.26	0.31	0.90	0.61	0.63	0.73	0.78	0.82	0.74	0.79
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	86	-73	-63	-29	-53	-87	-118	-106	-213	-258	-275
Operating Cash Flow to CapEx	340.02%	141.55%	5.31%	274.41%	297.54%	267.36%	44.49%	251.56%	243.36%	255.33%	-86.20%
Free Cash Flow to Firm to Interest Expense	5.34	-5.71	-3.14	-1.21	-2.36	-4.14	-5.55	-4.65	-9.09	-10.90	-11.48
Operating Cash Flow to Interest Expense	7.51	3.84	0.09	4.69	5.50	3.93	0.96	4.20	2.92	3.62	-0.97
Operating Cash Flow Less CapEx to Interest Expense	5.30	1.13	-1.54	2.98	3.65	2.46	-1.20	2.53	1.72	2.20	-2.09
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.70	0.69	0.67	0.66	0.65	0.64	0.63	0.61	0.59	0.59	0.58
Accounts Receivable Turnover	5.94	7.49	7.03	6.81	7.15	8.51	7.56	6.95	7.14	8.31	7.33
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	3.49	3.35	3.24	3.13	2.96	2.89	2.76	2.62	2.64	2.55	2.50
Accounts Payable Turnover	6.68	6.83	7.57	6.36	6.17	6.32	6.50	5.67	5.53	5.19	5.79
Days Sales Outstanding (DSO)	61.48	48.75	51.95	53.59	51.07	42.90	48.27	52.52	51.15	43.91	49.79
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	54.60	53.46	48.22	57.40	59.15	57.78	56.18	64.37	66.06	70.37	63.02
Cash Conversion Cycle (CCC)	6.88	-4.71	3.73	-3.80	-8.08	-14.88	-7.90	-11.85	-14.91	-26.47	-13.23
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,377	1,390	1,471	1,490	1,546	1,566	1,649	1,690	1,881	1,907	1,964
Invested Capital Turnover	1.13	1.15	1.09	1.09	1.06	1.07	1.02	0.99	0.93	0.92	0.89
Increase / (Decrease) in Invested Capital	16	104	110	128	170	176	178	200	335	341	315
Enterprise Value (EV)	7,418	6,946	7,727	7,354	7,781	8,258	7,904	7,590	6,665	6,121	6,571
Market Capitalization	6,114	5,592	6,263	5,717	6,138	6,646	6,191	5,874	4,933	4,395	4,745
Book Value per Share	$1.44	$0.71	$0.14	($3.05)	($2.04)	($0.97)	($1.37)	($0.57)	$3.24	$3.92	$2.99
Tangible Book Value per Share	($18.44)	($19.99)	($21.48)	($24.92)	($25.00)	($24.51)	($24.93)	($24.33)	($25.94)	($26.08)	($27.48)
Total Capital	1,468	1,604	1,702	1,722	1,715	1,723	1,811	1,874	2,068	2,087	2,141
Total Debt	1,396	1,568	1,695	1,868	1,811	1,769	1,875	1,900	1,919	1,906	2,003
Total Long-Term Debt	1,391	1,069	1,196	1,868	1,811	1,769	1,875	1,900	1,919	1,906	2,003
Net Debt	1,304	1,354	1,464	1,637	1,642	1,611	1,713	1,716	1,731	1,726	1,827
Capital Expenditures (CapEx)	36	35	33	41	41	31	46	38	28	34	27
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-98	-174	-124	-155	-199	-164	-109	-110	-71	-106	-67
Debt-free Net Working Capital (DFNWC)	-62	-147	-82	-3.93	-140	-124	-69	-51	-18	-61	-23
Net Working Capital (NWC)	-66	-646	-581	-3.93	-140	-124	-69	-51	-18	-61	-23
Net Nonoperating Expense (NNE)	10	1.67	15	12	11	13	15	12	-58	20	20
Net Nonoperating Obligations (NNO)	1,304	1,354	1,464	1,637	1,642	1,611	1,713	1,716	1,731	1,726	1,827
Total Depreciation and Amortization (D&A)	24	24	24	25	24	26	28	25	28	29	32
Debt-free, Cash-free Net Working Capital to Revenue	-6.34%	-11.25%	-8.01%	-9.98%	-12.79%	-10.34%	-6.89%	-6.97%	-4.43%	-6.66%	-4.18%
Debt-free Net Working Capital to Revenue	-3.99%	-9.51%	-5.28%	-0.25%	-9.02%	-7.80%	-4.36%	-3.25%	-1.14%	-3.84%	-1.45%
Net Working Capital to Revenue	-4.28%	-41.85%	-37.65%	-0.25%	-9.02%	-7.80%	-4.36%	-3.25%	-1.14%	-3.84%	-1.45%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.83	$0.60	$0.63	$1.82	$2.24	$1.57	$0.95	$1.76	$3.89	$1.37	$0.44
Adjusted Weighted Average Basic Shares Outstanding	49.80M	49.56M	48.16M	47.21M	46.91M	46.73M	46.40M	46.27M	46.27M	45.97M	45.50M
Adjusted Diluted Earnings per Share	$1.81	$0.59	$0.62	$1.80	$2.22	$1.56	$0.94	$1.75	$3.86	$1.35	$0.44
Adjusted Weighted Average Diluted Shares Outstanding	49.80M	49.56M	48.16M	47.21M	46.91M	46.73M	46.40M	46.27M	46.27M	45.97M	45.50M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	49.80M	49.56M	48.16M	47.21M	46.91M	46.73M	46.40M	46.27M	46.27M	45.97M	45.50M
Normalized Net Operating Profit after Tax (NOPAT)	111	51	59	100	118	88	60	94	123	86	40
Normalized NOPAT Margin	26.03%	14.24%	17.66%	22.93%	27.52%	22.70%	17.92%	22.05%	27.45%	21.92%	11.85%
Pre Tax Income Margin	28.49%	9.96%	12.11%	26.79%	32.05%	26.09%	17.95%	25.47%	47.15%	19.89%	8.90%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.27	3.55	2.91	5.46	6.96	5.57	3.74	5.72	10.38	4.31	2.48
NOPAT to Interest Expense	6.34	2.38	2.30	4.16	5.23	4.22	2.80	4.12	5.17	3.52	1.68
EBIT Less CapEx to Interest Expense	6.06	0.84	1.29	3.75	5.12	4.10	1.58	4.05	9.18	2.89	1.35
NOPAT Less CapEx to Interest Expense	4.13	-0.33	0.67	2.45	3.38	2.75	0.64	2.45	3.97	2.10	0.56
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	19.27%	21.84%	24.66%	24.16%	22.50%	18.52%	17.32%	17.39%	13.93%	14.45%	15.36%
Augmented Payout Ratio	192.08%	162.17%	135.24%	200.23%	183.62%	145.58%	140.54%	82.62%	51.81%	51.84%	53.01%

Financials Breakdown Chart

Key Financial Trends

Here are key trends for Choice Hotels International (CHH) based on the last four years of quarterly financial statements. The bullets below pull from the income statements, balance sheets, and cash flow statements you provided for 2022–2025.

Gross margin expanded to about 53.0% in Q4 2025 (gross profit of $206,838,000 on $390,150,000 revenue), up from about 47.9% in Q4 2024. This indicates improved profitability on core operations as margins improved in the latest year.
2024 profitability improved versus 2023, with Q4 2024 net income attributable to common shareholders around $63.68–$75.80 million range (Q4 2024 reported as about $75.8 million, vs roughly $28.95 million in Q4 2023), highlighting a stronger year-end result and a generally healthier bottom line in 2024.
Cash flow from operations remained solid in 2025, with positive net cash from continuing operating activities in all four 2025 quarters (examples include Q4 2025 CFO from continuing operations of about $85.7 million and Q3 2025 around $68.7 million), illustrating a cash-generating core business.
The company continues to provide shareholder value through a regular dividend of $0.2875 per share, signaling ongoing cash return to investors.
Revenue has fluctuated year-to-year but has shown a rebound in 2024–2025, generally hovering in the low-to-mid $300s million range for operating revenue, suggesting a stabilized top line after softer periods in prior years.
The balance sheet carries a substantial portfolio of intangible assets and goodwill (significant non-current assets), with total assets typically in the $2.1–$3.0 billion range, indicating a heavy asset base often tied to franchise affiliations and brand value.
Long-term debt has been persistent at roughly $1.8–$2.0 billion through 2025, implying a relatively stable leverage profile rather than rapid deleveraging in the near term.
Net income declined in Q4 2025 versus Q4 2024 (63.68 million in Q4 2025 vs about 75.8 million in Q4 2024), signaling a compression of profitability at the latest quarterly close.
Diluted earnings per share fell from about $1.56 in Q4 2024 to about $1.35 in Q4 2025, indicating earnings per share pressure despite other profitability improvements.
Q1 2025 showed negative trailing free cash flow, as cash from operating activities (~$20.5 million) was more than offset by capital expenditures (~$46.0 million) for the quarter, suggesting a period of cash use for growth or modernization activities.

05/15/26 04:38 AM ETAI Generated. May Contain Errors.

Choice Hotels International Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Choice Hotels International's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Choice Hotels International's net income appears to be on an upward trend, with a most recent value of $369.95 million in 2025, rising from $128.03 million in 2015. The previous period was $299.67 million in 2024. See where experts think Choice Hotels International is headed by visiting Choice Hotels International's forecast page.

Choice Hotels International's total operating income in 2025 was $448.40 million, based on the following breakdown:

Total Gross Profit: $841.77 million
Total Operating Expenses: $392.66 million

Over the last 10 years, Choice Hotels International's total revenue changed from $859.88 million in 2015 to $1.60 billion in 2025, a change of 85.7%.

Choice Hotels International's total liabilities were at $2.74 billion at the end of 2025, a 6.3% increase from 2024, and a 145.9% increase since 2015.

In the past 10 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 $45.00 million as of their latest financial filing in 2025.

Over the last 10 years, Choice Hotels International's book value per share changed from -6.99 in 2015 to 3.92 in 2025, a change of -156.0%.

Related Companies

Financial statements for NYSE:CHH last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Choice Hotels International (CHH) Financials

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Choice Hotels International (CHH) Financials

Annual Income Statements for Choice Hotels International

Quarterly Income Statements for Choice Hotels International

Annual Cash Flow Statements for Choice Hotels International

Quarterly Cash Flow Statements for Choice Hotels International

Annual Balance Sheets for Choice Hotels International

Quarterly Balance Sheets for Choice Hotels International

Annual Metrics And Ratios for Choice Hotels International

Quarterly Metrics And Ratios for Choice Hotels International

Financials Breakdown Chart

Key Financial Trends

Choice Hotels International Financials - Frequently Asked Questions

When does Choice Hotels International's financial year end?

How has Choice Hotels International's net income changed over the last 10 years?

What is Choice Hotels International's operating income?

How has Choice Hotels International's revenue changed over the last 10 years?

How much debt does Choice Hotels International have?

How much cash does Choice Hotels International have?

How has Choice Hotels International's book value per share changed over the last 10 years?

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