$4.2 B

CHH Mkt cap, 15-Oct-2018

$504.8 M

Choice Hotels Revenue Q2, 2018
Choice Hotels Net income (Q2, 2018)104.9 M
Choice Hotels EBIT (Q2, 2018)155.3 M
Choice Hotels Cash, 30-Jun-201837.1 M
Choice Hotels EV5 B

Choice Hotels Revenue Breakdown

Embed Graph

Choice Hotels revenue breakdown by business segment: 99.0% from Hotel Franchising and 1.0% from Other

Choice Hotels Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

724.3m758.0m859.9m924.6m1.0b

Revenue growth, %

5%13%8%

General and administrative expense

148.7m163.4m

Operating expense total

148.7m742.9m

Depreciation and amortization

12.4m

EBIT

193.9m215.2m226.2m238.9m264.4m

EBIT margin, %

27%28%26%26%26%

Interest expense

42.8m44.4m45.0m

Interest income

1.6m3.5m5.9m

Pre tax profit

184.0m200.0m224.0m

Income tax expense

56.0m60.6m109.1m

Net Income

112.6m123.2m128.0m139.4m114.9m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Revenue

232.2m241.5m207.1m241.8m267.6m197.9m276.8m209.4m504.8m

General and administrative expense

33.1m30.2m35.1m40.0m34.4m32.8m38.2m40.9m87.1m

Operating expense total

169.2m167.7m164.2m176.8m189.4m145.4m199.3m163.1m349.7m

Depreciation and amortization

3.1m6.7m

EBIT

62.9m73.8m42.9m64.9m78.6m52.5m77.5m46.2m155.3m

EBIT margin, %

27%31%21%27%29%27%28%22%31%

Interest expense

11.1m10.8m11.1m11.2m11.2m11.2m11.3m11.3m23.0m

Interest income

277.0k359.0k839.0k827.0k836.0k1.3m1.4m1.6m3.3m

Pre tax profit

52.9m62.3m30.4m55.6m70.2m41.4m67.4m30.5m130.5m

Income tax expense

17.1m20.8m10.8m16.8m22.6m12.6m22.4m5.4m25.6m

Net Income

41.5m19.0m35.4m39.4m21.6m35.8m41.4m19.6m38.8m47.6m28.7m45.0m25.1m104.9m

Choice Hotels Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

167.8m214.9m193.4m202.5m235.3m

Accounts Receivable

125.5m

Inventories

Current Assets

258.6m351.4m311.0m344.9m402.9m

Goodwill

65.8m65.8m79.3m78.9m80.8m

Total Assets

539.9m647.3m717.0m852.5m927.6m

Accounts Payable

41.7m57.1m64.4m48.1m63.5m

Short-term debt

10.1m12.3m1.2m1.2m1.2m

Current Liabilities

174.3m200.1m208.0m263.7m294.5m

Long-term debt

783.5m782.1m812.9m839.4m725.3m

Total Debt

793.6m794.4m814.1m840.6m726.5m

Total Liabilities

1.2b1.1b

Additional Paid-in Capital

117.8m127.7m149.9m159.0m182.4m

Retained Earnings

341.6m432.4m514.9m607.6m673.8m

Debt to Assets Ratio

1.5 x1.2 x1.1 x1 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Cash

161.1m174.9m211.5m244.4m230.7m199.3m194.1m207.9m206.0m187.5m198.0m36.8m37.1m

Accounts Receivable

143.0m186.0m

Current Assets

258.3m277.7m385.0m405.4m397.6m359.5m338.1m378.0m371.9m342.9m380.2m231.8m283.2m

Goodwill

65.8m65.8m65.8m65.8m65.8m79.5m80.0m79.6m79.8m79.1m80.0m174.5m173.7m

Total Assets

555.7m554.9m628.4m664.2m702.6m712.8m787.3m843.4m846.3m904.1m948.0m1.1b1.1b

Accounts Payable

40.8m44.8m50.9m64.1m72.2m59.9m60.6m74.9m60.4m59.1m67.7m62.7m72.3m

Short-term debt

9.1m11.0m12.0m12.0m1.1m1.7m1.0m833.0k660.0k1.2m1.3m1.3m1.1m

Current Liabilities

179.1m168.3m200.7m199.5m201.7m191.1m220.3m259.3m258.5m274.1m276.4m269.3m286.7m

Long-term debt

816.0m795.5m777.5m774.8m800.0m815.9m892.4m901.4m866.2m862.4m863.0m795.7m795.1m

Total Debt

825.1m806.5m789.5m786.7m801.2m817.6m893.5m902.2m866.9m863.6m864.3m797.0m796.2m

Total Liabilities

1.0b1.0b1.0b1.1b1.1b1.1b1.2b1.2b1.2b1.2b1.2b1.3b1.3b

Additional Paid-in Capital

114.6m118.0m119.0m123.3m134.1m147.0m150.1m152.6m155.4m160.7m164.8m195.7m204.9m

Retained Earnings

325.0m349.5m389.6m418.3m466.8m497.2m522.9m551.7m587.8m624.1m657.0m640.2m707.9m

Choice Hotels Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

112.6m123.2m128.0m139.4m

Depreciation and Amortization

9.5m9.4m11.5m11.7m

Accounts Payable

2.3m9.6m6.5m(13.7m)

Cash From Operating Activities

152.0m183.9m159.9m152.0m

Cash From Investing Activities

(27.5m)(17.6m)(99.8m)(98.5m)

Long-term Borrowings

(8.2m)(10.1m)(130.5m)(988.0k)

Dividends Paid

(32.8m)(43.5m)(45.2m)(46.2m)

Cash From Financing Activities

(117.5m)(79.5m)(44.1m)

Interest Paid

43.3m40.6m40.1m42.0m

Income Taxes Paid

47.5m77.6m55.0m65.7m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Net Income

85.3m19.0m58.5m97.9m21.6m57.4m98.8m19.6m60.0m107.6m28.7m73.7m25.1m104.9m

Depreciation and Amortization

7.1m2.1m4.6m6.9m2.7m5.7m8.8m2.8m5.7m8.7m3.1m6.1m3.1m6.7m

Accounts Payable

1.3m2.1m8.3m21.8m(1.2m)17.0m5.1m(4.0m)10.6m(3.5m)9.2m19.0m

Cash From Operating Activities

105.0m5.3m65.8m138.4m(15.8m)37.9m98.8m(22.9m)27.9m88.4m24.2m64.1m4.6m63.8m

Cash From Investing Activities

(5.3m)(63.1m)(41.3m)(53.9m)(66.0m)(47.8m)(67.3m)(241.2m)(272.7m)

Long-term Borrowings

(6.2m)(2.1m)(4.1m)(7.1m)(3.1m)(6.2m)(130.2m)(318.0k)(623.0k)(836.0k)(153.0k)(309.0k)(111.0k)(362.0k)

Dividends Paid

(22.0m)(10.8m)(22.0m)(32.8m)(11.7m)(22.9m)(34.2m)(11.6m)(23.2m)(34.7m)(12.1m)(24.3m)(12.3m)(24.5m)

Cash From Financing Activities

(48.1m)205.0k(27.7m)(56.1m)9.8m(12.0m)(49.5m)64.2m40.1m(10.2m)8.2m(2.3m)38.1m11.3m

Interest Paid

42.2m19.6m20.6m40.1m18.7m19.8m39.2m19.7m21.0m40.9m19.9m21.2m19.9m21.6m

Income Taxes Paid

13.0m5.8m19.6m51.6m2.4m21.1m32.5m4.2m12.5m32.1m1.5m30.8m5.0m22.5m

Choice Hotels Ratios

USDY, 2018

EV/EBIT

32.2 x

EV/CFO

78.5 x
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