IHG vs WH: InterContinental Hotels Group PLC ADR and Wyndham Hotels & Resorts compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- InterContinental Hotels Group PLC ADR is the larger company, worth $23.9B, about 4.5 times Wyndham Hotels & Resorts.
- InterContinental Hotels Group PLC ADR grew revenue faster over the last year (+5.4% vs -5.5%).
- Wyndham Hotels & Resorts keeps more of each dollar of revenue as operating profit (30.3% vs 23.1%).
- On earnings, Wyndham Hotels & Resorts is the cheaper stock (28.0x vs 33.0x).
- InterContinental Hotels Group PLC ADR's price assumes faster free cash flow growth: about 9% a year, against 2% for Wyndham Hotels & Resorts (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | IHG | WH |
|---|---|---|
| Market cap | $23.9B | $5.3B |
| Share price | $160.68 | $74.06 |
| Revenue (last fiscal year) | $5.2B | $1.4B |
| Free cash flow (last fiscal year) | $870M | $321M |
| Revenue growth, last year | +5.4% | -5.5% |
| Revenue growth per year, last 5 fiscal years | +15.6% | +3.5% |
| Operating margin | 23.1% | 30.3% |
| Net margin | 14.6% | 14.7% |
| Return on equity | — | 43.3% |
| P/E (trailing) | 33.0x | 28.0x |
| Price / free cash flow | 27.4x | 16.4x |
| EV / EBITDA | 20.5x | 10.9x |
| FCF growth the price implies | 9.1% | 2.4% |
| Dividend yield | 1.1% | 2.3% |
| Debt / equity | — | 8.03x |
| Fundamental grade | C | C |
| Superinvestors holding it | 0 | 5 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
InterContinental Hotels Group PLC ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.9B | $584M | 17.0% |
| 2022 | $3.9B | $547M | 16.1% |
| 2023 | $4.6B | $811M | 23.1% |
| 2024 | $4.9B | $646M | 21.1% |
| 2025 | $5.2B | $870M | 23.1% |
Wyndham Hotels & Resorts
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.2B | $389M | 35.8% |
| 2022 | $1.4B | $360M | 41.2% |
| 2023 | $1.4B | $339M | 36.3% |
| 2024 | $1.4B | $241M | 35.3% |
| 2025 | $1.4B | $321M | 28.1% |
Where the revenue comes from
InterContinental Hotels Group PLC ADR · by segments, 2025
Wyndham Hotels & Resorts · by segments, 2022
Questions
Which is bigger, InterContinental Hotels Group PLC ADR or Wyndham Hotels & Resorts?
InterContinental Hotels Group PLC ADR (IHG), at $23.9B against $5.3B.
Is IHG or WH cheaper?
By trailing P/E, Wyndham Hotels & Resorts (28.0x) is cheaper than InterContinental Hotels Group PLC ADR (33.0x). A lower multiple can also mean the market expects less growth.
Which grows faster, IHG or WH?
InterContinental Hotels Group PLC ADR: revenue grew +5.4% over the last year, against -5.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.