Choice Hotels International (CHH) financial statements
Choice Hotels International reported revenue of $1.6B in fiscal 2025, up 7.9% a year over 9 years.
Net income was $370M and the operating margin 28.1%, against 23.2% in 2016.
Free cash flow was $164M, and the company returned $53M in dividends and $138M in net buybacks.
The diluted share count fell 17% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Choice Hotels International's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $808M | $941M | $1.0B | $1.1B | $773M | $1.1B | $1.4B | $1.5B | $1.6B | $1.6B |
| Selling, general and admin | $155M | $166M | $170M | $169M | $149M | $146M | $168M | $313M | $312M | $329M |
| Operating income | $187M | $290M | $318M | $319M | $122M | $429M | $479M | $375M | $464M | $448M |
| Interest expense | $44M | $45M | $46M | $47M | $49M | $47M | $44M | $64M | $87M | $91M |
| Pre-tax income | $148M | $249M | $273M | $270M | $53M | $376M | $437M | $337M | $396M | $457M |
| Income tax | $41M | $127M | $57M | $47M | -$22M | $88M | $105M | $78M | $96M | $87M |
| Net income | $107M | $122M | $216M | $223M | $75M | $289M | $332M | $259M | $300M | $370M |
| EPS (diluted) | $2.46 | — | — | $3.98 | $1.35 | $5.15 | $5.99 | $5.07 | $6.20 | $7.90 |
| Diluted shares | 56M | 57M | 57M | 56M | 56M | 56M | 55M | 51M | 48M | 47M |
| Operating margin | 23.2% | 30.8% | 30.6% | 28.6% | 15.7% | 40.1% | 34.1% | 24.3% | 29.3% | 28.1% |
| Net margin | 13.2% | 13.0% | 20.8% | 20.0% | 9.8% | 27.0% | 23.7% | 16.7% | 18.9% | 23.2% |
Balance sheet
Fiscal years, from Choice Hotels International's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $202M | $235M | $27M | $34M | $235M | $512M | $42M | $27M | $40M | $45M |
| Receivables | $107M | $126M | $138M | $142M | $150M | $153M | $217M | $196M | $177M | $207M |
| Total current assets | $345M | $400M | $244M | $237M | $433M | $762M | $348M | $297M | $339M | $406M |
| Property, plant and equipment | $84M | $83M | $128M | $352M | $335M | $377M | $427M | $493M | $604M | $649M |
| Goodwill | $79M | $81M | $169M | $159M | $159M | $159M | $219M | $220M | $220M | $306M |
| Total assets | $908M | $995M | $1.1B | $1.4B | $1.6B | $1.9B | $2.1B | $2.4B | $2.5B | $2.9B |
| Total current liabilities | $264M | $285M | $318M | $326M | $256M | $570M | $436M | $943M | $463M | $467M |
| Long-term debt | $839M | $725M | $754M | $844M | $1.1B | $844M | $1.2B | $1.1B | $1.8B | $1.9B |
| Total liabilities | $1.2B | $1.3B | $1.3B | $1.4B | $1.6B | $1.7B | $1.9B | $2.4B | $2.6B | $2.7B |
| Shareholders' equity | -$365M | -$259M | -$184M | -$24M | -$6M | $266M | $155M | $36M | -$45M | $181M |
| Net debt | $637M | $490M | $727M | $810M | $824M | $549M | $1.2B | $1.5B | $1.7B | $1.9B |
Cash flow
Fiscal years, from Choice Hotels International's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $152M | $257M | $243M | $271M | $110M | $384M | $367M | $297M | $319M | $270M |
| Capital spending | $25M | $23M | $48M | $57M | — | — | $66M | $69M | $107M | $107M |
| Free cash flow | $127M | $234M | $195M | $213M | — | — | $301M | $228M | $213M | $164M |
| Stock-based compensation | $15M | $25M | $15M | $17M | $7M | $23M | $40M | $41M | $38M | $38M |
| Dividends paid | $46M | $49M | $49M | $48M | $25M | $25M | $53M | $56M | $55M | $53M |
| Share buybacks (net) | -$36M | -$10M | -$149M | -$51M | -$55M | -$13M | -$435M | -$363M | -$381M | -$138M |
| Net borrowing | -$988,000 | -$660,000 | $8M | $172M | -$474M | $0 | — | — | — | — |
| Free cash flow margin | 15.7% | 24.9% | 18.7% | 19.1% | — | — | 21.5% | 14.8% | 13.4% | 10.2% |
| Dividends per share | $0.82 | $0.86 | $0.86 | $0.86 | $0.46 | $0.45 | $0.95 | $1.11 | $1.15 | $1.15 |
Questions
What was Choice Hotels International's revenue in 2025?
$1.6B in fiscal 2025, from its 10-K filing.
How much free cash flow does Choice Hotels International generate?
$164M in fiscal 2025 (operating cash flow minus capital spending).
From Choice Hotels International's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.