What is Choice Hotels International's operating income?

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

Choice Hotels International (CHH) Financials

$106.32 -3.41 (-3.10%)

As of 03:19 PM Eastern

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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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	29	31	87	106	76	45	82	180	64	20	64
Consolidated Net Income / (Loss)	29	31	87	106	76	45	82	180	64	20	64
Net Income / (Loss) Continuing Operations	29	31	87	106	76	45	82	180	64	20	64
Total Pre-Tax Income	36	40	117	137	102	60	109	211	78	30	86
Total Operating Income	38	60	133	152	119	80	125	142	101	60	104
Total Gross Profit	142	161	235	235	187	168	228	239	207	155	218
Total Revenue	358	332	435	428	390	333	426	447	390	341	441
Operating Revenue	358	332	435	428	390	333	426	447	390	341	441
Total Cost of Revenue	217	171	200	193	203	165	199	208	183	185	223
Operating Cost of Revenue	217	171	200	193	203	165	199	208	183	185	223
Total Operating Expenses	104	101	102	83	67	88	103	97	105	95	114
Selling, General & Admin Expense	65	72	89	69	57	74	89	80	86	78	96
Depreciation Expense	10	13	13	13	11	14	13	16	17	17	17
Restructuring Charge	25	16	0.90	0.98	-0.49	0.10	0.35	1.49	2.76	0.24	0.54
Total Other Income / (Expense), net	-2.06	-20	-16	-15	-18	-20	-16	69	-25	-30	-18
Interest Expense	13	20	24	22	21	21	23	23	24	24	24
Interest & Investment Income	2.88	1.58	10	3.72	5.33	1.51	1.38	-9.47	-1.50	-5.04	-0.12
Other Income / (Expense), net	7.90	-1.34	-2.54	4.01	-1.77	-0.44	5.37	101	0.62	-0.72	6.12
Income Tax Expense	6.73	9.20	29	31	26	15	27	31	14	10	22
Basic Earnings per Share	$0.60	$0.63	$1.82	$2.24	$1.57	$0.95	$1.76	$3.89	$1.37	$0.44	$1.42
Weighted Average Basic Shares Outstanding	49.56M	48.16M	47.21M	46.91M	46.73M	46.40M	46.27M	46.27M	45.97M	45.50M	45.01M
Diluted Earnings per Share	$0.59	$0.62	$1.80	$2.22	$1.56	$0.94	$1.75	$3.86	$1.35	$0.44	$1.41
Weighted Average Diluted Shares Outstanding	49.56M	48.16M	47.21M	46.91M	46.73M	46.40M	46.27M	46.27M	45.97M	45.50M	45.01M
Weighted Average Basic & Diluted Shares Outstanding	49.56M	48.16M	47.21M	46.91M	46.73M	46.40M	46.27M	46.27M	45.97M	45.50M	45.01M
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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Net Change in Cash & Equivalents	-9.93	15	18	-1.99	-18	-0.28	18	-7.72	-7.89	-1.07	-0.78
Net Cash From Operating Activities	49	1.74	112	123	83	20	96	69	86	-23	91
Net Cash From Continuing Operating Activities	49	1.74	112	123	83	20	96	69	86	-23	91
Net Income / (Loss) Continuing Operations	29	31	87	106	76	45	82	180	64	20	64
Consolidated Net Income / (Loss)	29	31	87	106	76	45	82	180	64	20	64
Depreciation Expense	19	18	18	17	18	19	18	21	22	22	23
Amortization Expense	5.41	6.19	7.81	6.59	8.12	9.79	7.47	7.76	6.95	9.58	11
Non-Cash Adjustments To Reconcile Net Income	-22	-19	-14	-26	-19	-15	-8.49	-102	-7.15	-26	-29
Changes in Operating Assets and Liabilities, net	18	-34	14	19	0.02	-38	-3.08	-37	0.17	-49	21
Net Cash From Investing Activities	-162	-43	-19	-1.33	-21	-53	-42	-83	-40	-6.18	-28
Net Cash From Continuing Investing Activities	-162	-43	-19	-1.33	-21	-53	-42	-83	-40	-6.18	-28
Purchase of Property, Plant & Equipment	-35	-33	-41	-41	-31	-46	-38	-28	-34	-27	-18
Purchase of Investments	-123	-9.32	-11	-29	-2.57	-5.42	-3.94	-81	-3.67	-3.86	-6.73
Other Investing Activities, net	-5.95	-2.76	-0.47	-23	-17	-3.02	-1.54	2.68	-7.51	-0.04	-2.82
Net Cash From Financing Activities	103	56	-75	-124	-80	32	-35	6.31	-53	28	-63
Net Cash From Continuing Financing Activities	103	56	-75	-124	-80	32	-35	6.31	-53	28	-63
Repurchase of Common Equity	-58	-59	-233	-56	-32	-65	-48	-0.20	-25	-56	-51
Payment of Dividends	-14	-15	-14	-14	-13	-13	-13	-13	-13	-13	-13
Issuance of Debt	177	127	175	447	-43	106	25	18	-148	97	-0.73
Other Financing Activities, net	-0.37	4.16	0.10	5.02	8.25	4.80	1.58	1.35	0.95	0.88	1.46
Cash Interest Paid	16	20	23	13	11	32	13	31	14	32	15
Cash Income Taxes Paid	24	2.33	27	36	43	3.03	39	34	-11	3.96	16

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	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Total Assets	2,106	2,150	2,232	2,475	2,519	2,544	2,578	2,665	2,908	2,945	2,989
Total Current Assets	341	348	353	339	448	339	358	401	450	411	432
Cash & Equivalents	32	36	36	42	60	59	40	59	53	44	43
Note & Lease Receivable	53	53	53	22	22	22	76	75	96	55	55
Accounts Receivable	214	220	224	225	235	211	194	218	236	244	280
Prepaid Expenses	37	34	34	41	31	43	44	41	45	54	45
Current Deferred & Refundable Income Taxes	4.74	5.14	5.74	8.56	9.70	4.21	4.14	8.12	20	14	9.58
Plant, Property, & Equipment, net	434	449	470	518	541	580	632	661	628	650	654
Total Noncurrent Assets	1,331	1,353	1,410	1,619	1,530	1,625	1,588	1,603	1,829	1,884	1,903
Long-Term Investments	33	45	55	189	81	110	122	125	134	133	137
Noncurrent Note & Lease Receivables	56	50	50	77	78	100	33	34	16	27	29
Goodwill	220	220	220	220	220	220	220	220	305	305	303
Intangible Assets	750	764	781	821	833	864	881	882	1,046	1,096	1,106
Noncurrent Deferred & Refundable Income Taxes	81	86	92	90	92	111	108	108	88	77	76
Employee Benefit Assets	35	36	36	44	45	48	44	48	49	48	55
Other Noncurrent Operating Assets	156	151	175	178	180	174	180	185	191	198	198
Total Liabilities & Shareholders' Equity	2,106	2,150	2,232	2,475	2,519	2,544	2,578	2,665	2,908	2,945	2,989
Total Liabilities	2,059	2,096	2,160	2,468	2,666	2,640	2,642	2,691	2,758	2,807	2,847
Total Current Liabilities	370	407	419	920	452	479	427	452	469	434	466
Accounts Payable	93	121	124	135	151	153	122	143	154	146	165
Accrued Expenses	79	99	97	70	97	122	101	117	115	87	111
Current Deferred Revenue	104	87	86	116	106	103	116	106	109	113	104
Other Current Liabilities	90	96	108	99	98	101	89	87	90	88	86
Total Noncurrent Liabilities	1,690	1,689	1,741	1,549	2,214	2,161	2,214	2,239	2,289	2,373	2,380
Long-Term Debt	1,375	1,384	1,391	1,196	1,868	1,811	1,875	1,900	1,919	2,003	2,002
Noncurrent Deferred Revenue	196	55	53	186	132	132	131	129	177	130	134
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	-	23	34	33
Noncurrent Employee Benefit Liabilities	40	41	41	49	51	53	50	54	55	54	61
Other Noncurrent Operating Liabilities	78	208	255	118	162	165	158	156	115	152	150
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	47	55	72	6.73	-147	-96	-64	-26	150	137	142
Total Preferred & Common Equity	47	55	72	6.73	-147	-96	-64	-26	150	137	142
Total Common Equity	47	55	72	6.73	-147	-96	-64	-26	150	137	142
Common Stock	301	312	323	337	345	357	377	388	399	409	411
Retained Earnings	1,594	1,664	1,742	1,773	1,847	1,939	2,032	2,101	2,268	2,325	2,377
Treasury Stock	-1,843	-1,917	-1,987	-2,098	-2,333	-2,387	-2,467	-2,511	-2,511	-2,588	-2,635
Accumulated Other Comprehensive Income / (Loss)	-4.82	-4.52	-4.71	-5.22	-5.91	-5.38	-6.13	-4.05	-5.61	-8.18	-9.90

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	45,971,393.00	45,495,493.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	45,971,393.00	45,495,493.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.44	1.41
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.99%	-0.25%	1.81%	0.57%	8.75%	0.27%	-2.00%	4.53%	0.10%	2.32%	3.36%
EBITDA Growth	-32.74%	-20.00%	3.35%	14.06%	105.76%	30.09%	-0.05%	51.52%	-8.71%	-15.84%	-7.46%
EBIT Growth	-42.51%	-26.26%	2.77%	16.53%	157.31%	35.17%	-0.08%	56.53%	-13.09%	-25.39%	-15.16%
NOPAT Growth	-49.62%	-23.86%	5.88%	14.13%	190.14%	28.41%	-5.41%	3.88%	-6.30%	-32.48%	-16.80%
Net Income Growth	-47.84%	-41.29%	2.86%	14.88%	161.82%	43.62%	-6.20%	70.26%	-15.99%	-54.41%	-21.28%
EPS Growth	-43.81%	-39.22%	9.09%	22.65%	164.41%	51.61%	-2.78%	73.87%	-13.46%	-53.19%	-19.43%
Operating Cash Flow Growth	-51.54%	-85.53%	-1.63%	1.23%	67.86%	1,075.59%	-14.53%	-44.13%	3.41%	-213.23%	-5.30%
Free Cash Flow Firm Growth	83.28%	86.79%	93.23%	-161.05%	-19.07%	-85.96%	-267.02%	-305.05%	-195.61%	-133.10%	-85.88%
Invested Capital Growth	8.08%	8.07%	9.39%	12.33%	12.67%	12.07%	13.39%	21.66%	21.79%	19.12%	16.25%
Revenue Q/Q Growth	-15.78%	-7.38%	31.09%	-1.65%	-8.92%	-14.60%	28.11%	4.90%	-12.78%	-12.71%	29.42%
EBITDA Q/Q Growth	-55.71%	18.90%	87.42%	15.57%	-20.10%	-24.83%	44.00%	75.20%	-51.86%	-30.70%	58.33%
EBIT Q/Q Growth	-65.86%	28.85%	121.17%	19.77%	-24.62%	-32.31%	63.49%	87.64%	-58.15%	-41.89%	85.90%
NOPAT Q/Q Growth	-70.12%	51.47%	113.69%	18.03%	-24.05%	-32.96%	57.42%	29.62%	-31.50%	-51.70%	93.99%
Net Income Q/Q Growth	-68.54%	7.10%	181.00%	21.32%	-28.29%	-41.25%	83.53%	120.22%	-64.62%	-68.12%	216.87%
EPS Q/Q Growth	-67.40%	5.08%	190.32%	23.33%	-29.73%	-39.74%	86.17%	120.57%	-65.03%	-67.41%	220.45%
Operating Cash Flow Q/Q Growth	-59.35%	-96.47%	6,324.70%	9.92%	-32.60%	-75.30%	367.11%	-28.15%	24.75%	-127.04%	490.68%
Free Cash Flow Firm Q/Q Growth	-184.94%	13.46%	54.57%	-82.83%	-65.66%	-35.15%	10.33%	-101.77%	-20.90%	-6.57%	28.50%
Invested Capital Q/Q Growth	0.97%	5.85%	1.30%	3.76%	1.28%	5.28%	2.49%	11.33%	1.39%	2.97%	0.03%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.49%	40.84%	48.11%	49.70%	47.87%	50.47%	53.39%	53.49%	53.02%	45.55%	49.38%
EBITDA Margin	19.47%	24.99%	35.73%	41.99%	36.83%	32.42%	36.44%	60.86%	33.59%	26.67%	32.63%
Operating Margin	10.53%	18.12%	30.48%	35.47%	30.59%	24.01%	29.22%	31.84%	26.00%	17.63%	23.63%
EBIT Margin	12.74%	17.72%	29.89%	36.40%	30.13%	23.88%	30.48%	54.52%	26.16%	17.42%	25.02%
Profit (Net Income) Margin	8.08%	9.34%	20.02%	24.70%	19.45%	13.38%	19.17%	40.24%	16.32%	5.96%	14.60%
Tax Burden Percent	81.13%	77.12%	74.74%	77.08%	74.53%	74.52%	75.25%	85.34%	82.06%	66.99%	74.91%
Interest Burden Percent	78.18%	68.37%	89.62%	88.03%	86.60%	75.18%	83.57%	86.49%	76.03%	51.10%	77.89%
Effective Tax Rate	18.87%	22.88%	25.26%	22.92%	25.47%	25.48%	24.75%	14.66%	17.94%	33.01%	25.09%
Return on Invested Capital (ROIC)	9.86%	15.23%	24.77%	29.06%	24.44%	18.19%	21.81%	25.31%	19.62%	10.49%	15.68%
ROIC Less NNEP Spread (ROIC-NNEP)	9.73%	14.12%	23.96%	28.29%	23.56%	17.24%	21.09%	28.77%	18.45%	9.36%	14.91%
Return on Net Nonoperating Assets (RNNOA)	127.09%	730.25%	-766.09%	-3,511.98%	-7,224.73%	-957.71%	-408.73%	1,810.46%	452.84%	450.92%	455.00%
Return on Equity (ROE)	136.95%	745.48%	-741.31%	-3,482.92%	-7,200.28%	-939.52%	-386.92%	1,835.77%	472.46%	461.41%	470.68%
Cash Return on Invested Capital (CROIC)	13.74%	11.53%	10.57%	8.45%	11.85%	12.00%	10.05%	2.06%	1.25%	1.74%	3.09%
Operating Return on Assets (OROA)	8.75%	11.94%	19.86%	23.68%	19.39%	14.99%	18.54%	31.93%	15.33%	10.12%	14.33%
Return on Assets (ROA)	5.55%	6.29%	13.30%	16.07%	12.52%	8.40%	11.66%	23.57%	9.57%	3.46%	8.36%
Return on Common Equity (ROCE)	136.95%	745.48%	-741.31%	-3,482.92%	-7,200.28%	-939.52%	-386.92%	1,835.77%	472.46%	461.41%	470.68%
Return on Equity Simple (ROE_SIMPLE)	0.00%	3,518.60%	-162.91%	-262.93%	0.00%	-489.86%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	31	46	99	117	89	60	94	122	83	40	78
NOPAT Margin	8.55%	13.97%	22.78%	27.34%	22.80%	17.89%	21.99%	27.17%	21.34%	11.81%	17.70%
Net Nonoperating Expense Percent (NNEP)	0.13%	1.11%	0.81%	0.77%	0.88%	0.95%	0.72%	-3.47%	1.17%	1.13%	0.77%
Return On Investment Capital (ROIC_SIMPLE)	1.91%	-	-	-	5.16%	3.29%	5.00%	5.88%	3.99%	1.88%	3.64%
Cost of Revenue to Revenue	60.51%	59.16%	51.89%	50.30%	52.13%	49.53%	46.61%	46.51%	46.99%	54.45%	50.62%
SG&A Expenses to Revenue	18.05%	14.65%	14.94%	11.47%	14.67%	22.29%	20.94%	17.80%	22.00%	22.92%	21.82%
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	28.96%	22.72%	17.63%	14.24%	17.28%	26.45%	24.17%	21.65%	26.83%	27.92%	25.75%
Earnings before Interest and Taxes (EBIT)	46	59	130	156	117	79	130	244	102	59	110
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	70	83	155	180	144	108	155	272	131	91	144
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	157.09	930.96	0.00	0.00	0.00	0.00	0.00	32.94	24.25	34.53	35.19
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)	3.62	4.06	3.69	3.95	4.19	3.90	3.72	3.09	2.75	2.96	3.09
Price to Earnings (P/E)	21.63	26.46	23.91	24.28	22.18	19.77	19.08	12.91	11.88	13.72	15.24
Dividend Yield	1.02%	0.91%	0.97%	0.88%	0.81%	0.87%	0.91%	1.08%	1.21%	1.11%	1.05%
Earnings Yield	4.62%	3.78%	4.18%	4.12%	4.51%	5.06%	5.24%	7.74%	8.42%	7.29%	6.56%
Enterprise Value to Invested Capital (EV/IC)	5.00	5.25	4.94	5.03	5.27	4.79	4.49	3.54	3.21	3.35	3.47
Enterprise Value to Revenue (EV/Rev)	4.50	5.01	4.74	5.01	5.21	4.98	4.81	4.17	3.83	4.10	4.22
Enterprise Value to EBITDA (EV/EBITDA)	14.43	16.77	15.79	15.95	14.70	13.47	12.94	9.81	9.18	10.12	10.70
Enterprise Value to EBIT (EV/EBIT)	18.01	21.19	19.97	19.93	17.87	16.37	15.72	11.68	11.02	12.28	13.24
Enterprise Value to NOPAT (EV/NOPAT)	24.14	28.29	26.39	26.54	23.51	21.67	21.12	18.00	16.86	18.96	20.62
Enterprise Value to Operating Cash Flow (EV/OCF)	23.42	26.99	25.86	27.22	25.85	23.38	23.58	24.90	22.63	28.97	30.78
Enterprise Value to Free Cash Flow (EV/FCFF)	37.80	47.32	48.80	62.99	47.16	42.22	47.48	188.82	281.38	209.62	121.09
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	44.05	252.00	-12.73	-18.83	-39.07	-29.32	-72.42	12.81	10.52	14.58	14.08
Long-Term Debt to Equity	30.02	177.75	-12.73	-18.83	-39.07	-29.32	-72.42	12.81	10.52	14.58	14.08
Financial Leverage	13.06	51.71	-31.98	-124.13	-306.59	-55.54	-19.38	62.92	24.55	48.16	30.52
Leverage Ratio	23.64	85.26	-50.70	-201.20	-509.18	-88.32	-29.96	101.67	40.08	75.14	48.76
Compound Leverage Factor	18.48	58.29	-45.44	-177.12	-440.96	-66.40	-25.04	87.93	30.47	38.40	37.98
Debt to Total Capital	97.78%	99.60%	108.53%	105.61%	102.63%	103.53%	101.40%	92.76%	91.32%	93.58%	93.37%
Short-Term Debt to Total Capital	31.13%	29.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	66.65%	70.26%	108.53%	105.61%	102.63%	103.53%	101.40%	92.76%	91.32%	93.58%	93.37%
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	2.22%	0.40%	-8.53%	-5.61%	-2.63%	-3.53%	-1.40%	7.24%	8.68%	6.42%	6.63%
Debt to EBITDA	3.26	3.68	4.01	3.71	3.15	3.20	3.24	2.82	2.86	3.08	3.14
Net Debt to EBITDA	2.81	3.18	3.51	3.37	2.87	2.92	2.93	2.55	2.59	2.81	2.86
Long-Term Debt to EBITDA	2.22	2.60	4.01	3.71	3.15	3.20	3.24	2.82	2.86	3.08	3.14
Debt to NOPAT	5.45	6.21	6.71	6.18	5.03	5.14	5.29	5.18	5.25	5.78	6.05
Net Debt to NOPAT	4.71	5.36	5.87	5.60	4.59	4.70	4.77	4.68	4.75	5.27	5.50
Long-Term Debt to NOPAT	3.71	4.38	6.71	6.18	5.03	5.14	5.29	5.18	5.25	5.78	6.05
Altman Z-Score	2.83	2.95	3.10	3.21	3.38	3.19	3.14	2.98	2.71	2.72	2.82
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	0.31	0.37	0.99	0.71	0.73	0.84	0.89	0.96	0.87	0.95	0.93
Quick Ratio	0.26	0.31	0.90	0.61	0.63	0.73	0.78	0.82	0.74	0.79	0.81
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-73	-63	-29	-53	-87	-118	-106	-213	-258	-275	-197
Operating Cash Flow to CapEx	141.55%	5.31%	274.41%	297.54%	267.36%	44.49%	251.56%	243.36%	255.33%	-86.20%	494.52%
Free Cash Flow to Firm to Interest Expense	-5.71	-3.14	-1.21	-2.36	-4.14	-5.55	-4.65	-9.09	-10.90	-11.48	-8.11
Operating Cash Flow to Interest Expense	3.84	0.09	4.69	5.50	3.93	0.96	4.20	2.92	3.62	-0.97	3.73
Operating Cash Flow Less CapEx to Interest Expense	1.13	-1.54	2.98	3.65	2.46	-1.20	2.53	1.72	2.20	-2.09	2.98
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.69	0.67	0.66	0.65	0.64	0.63	0.61	0.59	0.59	0.58	0.57
Accounts Receivable Turnover	7.49	7.03	6.81	7.15	8.51	7.56	6.95	7.14	8.31	7.33	6.50
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	3.35	3.24	3.13	2.96	2.89	2.76	2.62	2.64	2.55	2.50	2.46
Accounts Payable Turnover	6.83	7.57	6.36	6.17	6.32	6.50	5.67	5.53	5.19	5.79	5.19
Days Sales Outstanding (DSO)	48.75	51.95	53.59	51.07	42.90	48.27	52.52	51.15	43.91	49.79	56.17
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)	53.46	48.22	57.40	59.15	57.78	56.18	64.37	66.06	70.37	63.02	70.34
Cash Conversion Cycle (CCC)	-4.71	3.73	-3.80	-8.08	-14.88	-7.90	-11.85	-14.91	-26.47	-13.23	-14.16
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,390	1,471	1,490	1,546	1,566	1,649	1,690	1,881	1,907	1,964	1,964
Invested Capital Turnover	1.15	1.09	1.09	1.06	1.07	1.02	0.99	0.93	0.92	0.89	0.89
Increase / (Decrease) in Invested Capital	104	110	128	170	176	178	200	335	341	315	275
Enterprise Value (EV)	6,946	7,727	7,354	7,781	8,258	7,904	7,590	6,665	6,121	6,571	6,826
Market Capitalization	5,592	6,263	5,717	6,138	6,646	6,191	5,874	4,933	4,395	4,745	5,004
Book Value per Share	$0.71	$0.14	($3.05)	($2.04)	($0.97)	($1.37)	($0.57)	$3.24	$3.92	$2.99	$3.13
Tangible Book Value per Share	($19.99)	($21.48)	($24.92)	($25.00)	($24.51)	($24.93)	($24.33)	($25.94)	($26.08)	($27.48)	($27.84)
Total Capital	1,604	1,702	1,722	1,715	1,723	1,811	1,874	2,068	2,087	2,141	2,145
Total Debt	1,568	1,695	1,868	1,811	1,769	1,875	1,900	1,919	1,906	2,003	2,002
Total Long-Term Debt	1,069	1,196	1,868	1,811	1,769	1,875	1,900	1,919	1,906	2,003	2,002
Net Debt	1,354	1,464	1,637	1,642	1,611	1,713	1,716	1,731	1,726	1,827	1,822
Capital Expenditures (CapEx)	35	33	41	41	31	46	38	28	34	27	18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-174	-124	-155	-199	-164	-109	-110	-71	-106	-67	-77
Debt-free Net Working Capital (DFNWC)	-147	-82	-3.93	-140	-124	-69	-51	-18	-61	-23	-35
Net Working Capital (NWC)	-646	-581	-3.93	-140	-124	-69	-51	-18	-61	-23	-35
Net Nonoperating Expense (NNE)	1.67	15	12	11	13	15	12	-58	20	20	14
Net Nonoperating Obligations (NNO)	1,354	1,464	1,637	1,642	1,611	1,713	1,716	1,731	1,726	1,827	1,822
Total Depreciation and Amortization (D&A)	24	24	25	24	26	28	25	28	29	32	34
Debt-free, Cash-free Net Working Capital to Revenue	-11.25%	-8.01%	-9.98%	-12.79%	-10.34%	-6.89%	-6.97%	-4.43%	-6.66%	-4.18%	-4.78%
Debt-free Net Working Capital to Revenue	-9.51%	-5.28%	-0.25%	-9.02%	-7.80%	-4.36%	-3.25%	-1.14%	-3.84%	-1.45%	-2.13%
Net Working Capital to Revenue	-41.85%	-37.65%	-0.25%	-9.02%	-7.80%	-4.36%	-3.25%	-1.14%	-3.84%	-1.45%	-2.13%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.60	$0.63	$1.82	$2.24	$1.57	$0.95	$1.76	$3.89	$1.37	$0.44	$1.42
Adjusted Weighted Average Basic Shares Outstanding	49.56M	48.16M	47.21M	46.91M	46.73M	46.40M	46.27M	46.27M	45.97M	45.50M	45.01M
Adjusted Diluted Earnings per Share	$0.59	$0.62	$1.80	$2.22	$1.56	$0.94	$1.75	$3.86	$1.35	$0.44	$1.41
Adjusted Weighted Average Diluted Shares Outstanding	49.56M	48.16M	47.21M	46.91M	46.73M	46.40M	46.27M	46.27M	45.97M	45.50M	45.01M
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	49.56M	48.16M	47.21M	46.91M	46.73M	46.40M	46.27M	46.27M	45.97M	45.50M	45.01M
Normalized Net Operating Profit after Tax (NOPAT)	51	59	100	118	88	60	94	123	86	40	78
Normalized NOPAT Margin	14.24%	17.66%	22.93%	27.52%	22.70%	17.92%	22.05%	27.45%	21.92%	11.85%	17.79%
Pre Tax Income Margin	9.96%	12.11%	26.79%	32.05%	26.09%	17.95%	25.47%	47.15%	19.89%	8.90%	19.48%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.55	2.91	5.46	6.96	5.57	3.74	5.72	10.38	4.31	2.48	4.55
NOPAT to Interest Expense	2.38	2.30	4.16	5.23	4.22	2.80	4.12	5.17	3.52	1.68	3.22
EBIT Less CapEx to Interest Expense	0.84	1.29	3.75	5.12	4.10	1.58	4.05	9.18	2.89	1.35	3.79
NOPAT Less CapEx to Interest Expense	-0.33	0.67	2.45	3.38	2.75	0.64	2.45	3.97	2.10	0.56	2.46
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	21.84%	24.66%	24.16%	22.50%	18.52%	17.32%	17.39%	13.93%	14.45%	15.36%	16.12%
Augmented Payout Ratio	162.17%	135.24%	200.23%	183.62%	145.58%	140.54%	82.62%	51.81%	51.84%	53.01%	56.64%

Financials Breakdown Chart

Key Financial Trends

Choice Hotels International (NYSE:CHH) shows a mixed but generally resilient financial profile over the last four years. Revenue has grown modestly, profitability has remained strong overall, and the company continues to return cash to shareholders. However, cash flow has been choppy in recent quarters, leverage is high, and equity remains thin relative to liabilities.

Revenue has trended higher over time, with quarterly revenue rising from roughly $332.8 million in Q1 2023 to $340.6 million in Q1 2026.
Gross profit has remained solid, and gross margin has generally stayed healthy despite periodic cost pressure.
The company has continued to produce meaningful net income, including $20.3 million in Q1 2026 and $63.7 million in Q4 2025.
Choice Hotels has consistently generated positive operating income in most periods, reflecting a fairly scalable business model.
The company has returned capital to shareholders through dividends and share repurchases over multiple quarters.
Noncurrent assets remain substantial, with significant value in intangibles, goodwill, and long-term receivables, supporting the franchise-heavy model.
Q1 2026 showed a sharp earnings-to-cash mismatch: net income was $20.3 million, but operating cash flow was negative at $(23.2) million.
Interest expense remains a major cost item, with quarterly interest expense around $23.9 million in Q1 2026.
Quarterly share count has been fairly stable in the mid-45 million to low-50 million range, with only modest dilution pressure.
Capital spending has stayed elevated, which may support the business long term but also weighs on free cash flow in the near term.
Balance sheet leverage is high. As of Q1 2026, long-term debt was about $2.0 billion against only $137 million in total equity.
Equity has been very weak for several quarters, including negative common equity in some 2024 and 2025 periods before turning slightly positive again.
Operating cash flow has been volatile, swinging from strong positive results in prior quarters to a negative reading in Q1 2026.
The company relied on debt issuance in Q1 2026, including $97.0 million of new debt, while also buying back stock and paying dividends.
The combination of heavy leverage, meaningful interest costs, and inconsistent cash generation increases financial risk if operating performance softens.

Bottom line: Choice Hotels remains profitable and cash-generative over a longer horizon, but the latest quarter highlights pressure in operating cash flow and a leverage-heavy balance sheet. For retail investors, the key question is whether earnings can keep growing enough to offset debt service and support continued capital returns.

08/07/26 03:19 PM 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. Find out what analysts predict for Choice Hotels International in the coming months.

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%.

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Financial statements for NYSE:CHH last updated on 8/5/2026 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

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Quarterly Cash Flow Statements for Choice Hotels International

Annual Balance Sheets for Choice Hotels International

Quarterly Balance Sheets for Choice Hotels International

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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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