Choice Hotels International Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Choice Hotels International Inc. reported revenue of $1.6B (+0.8% year on year) and net income of $369.9M (+23.5% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total revenues | $1.6B | $1.6B | $1.5B | $1.4B |
| Selling, general and administrative | $329.0M | $219.9M | $216.1M | $207.3M |
| Business combination, diligence and transition costs | $4.7M | $17.2M | $55.8M | — |
| Depreciation and amortization | $59.7M | $43.3M | $39.7M | $30.4M |
| Operating expenses | $755.0M | $840.7M | $853.9M | $701.9M |
| Total operating expenses | $1.1B | $1.1B | $1.2B | $939.6M |
| Impairment of long-lived assets | $0 | $0 | ($3.7M) | $0 |
| Operating income | $448.4M | $463.8M | $375.0M | $478.6M |
| Interest expense | $91.1M | $87.1M | $63.8M | $43.8M |
| Interest income | ($6.2M) | ($8.6M) | ($7.8M) | ($7.3M) |
| Gain from an acquisition of a joint venture | ($100.0M) | — | — | — |
| Gain on sale of assets | ($713.0K) | — | — | — |
| Loss (gain) on extinguishment of debt | $0 | $331.0K | ($4.4M) | $0 |
| Other (gains) losses, net | ($7.0M) | $1.6M | ($10.6M) | $7.0M |
| Equity in net loss (gain) of affiliates | $14.3M | ($12.3M) | ($2.9M) | ($1.7M) |
| Total other expenses and (income), net | ($8.5M) | $68.1M | $38.1M | $41.8M |
| Income before income taxes | $456.9M | $395.6M | $337.0M | $436.8M |
| Income tax expense | $86.9M | $96.0M | $78.4M | $104.7M |
| Net income | $369.9M | $299.7M | $258.5M | $332.2M |
| Basic earnings per share (in dollars per share) | $7.97 | $6.26 | $5.11 | $6.05 |
| Diluted earnings per share (in dollars per share) | $7.90 | $6.20 | $5.07 | $5.99 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Total revenues | $440.8M | $340.6M | $447.3M | $426.4M |
| Selling, general and administrative | $96.2M | $78.0M | $79.6M | $89.3M |
| Business combination, diligence and transition costs | $536.0K | $236.0K | $1.5M | $347.0K |
| Depreciation and amortization | $16.8M | $16.8M | $15.8M | $13.4M |
| Operating expenses | $223.1M | $185.4M | $208.1M | $198.8M |
| Total operating expenses | $336.6M | $280.5M | $304.9M | $301.8M |
| Operating income | $104.1M | $60.0M | $142.4M | $124.6M |
| Interest expense | $24.3M | $24.0M | $23.5M | $22.7M |
| Interest income | ($1.1M) | ($1.2M) | ($1.4M) | ($1.5M) |
| Other gains, net | ($6.1M) | $721.0K | ($721.0K) | ($5.4M) |
| Equity in net loss of affiliates | $1.2M | $6.3M | $10.9M | $80.0K |
| Total other expenses and (income), net | $18.3M | $29.7M | ($68.5M) | $16.0M |
| Income before income taxes | $85.9M | $30.3M | $210.9M | $108.6M |
| Income tax expense | $21.5M | $10.0M | $30.9M | $26.9M |
| Net income | $64.3M | $20.3M | $180.0M | $81.7M |
| Basic earnings per share (in usd per share) | $1.42 | $0.44 | $3.89 | $1.76 |
| Diluted earnings per share (in usd per share) | $1.41 | $0.44 | $3.86 | $1.75 |
| Cash dividends declared per share (in usd per share) | $0.29 | $0.29 | $0.29 | $0.29 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $45.0M | $40.2M | $26.8M | $41.6M |
| Accounts receivables (net of allowance for credit losses of $51,189 and $45,610, respectively) | $207.5M | $176.7M | $195.9M | $216.6M |
| Income taxes receivable | $13.5M | $5.4M | $14.3M | $4.8M |
| Notes receivable (net of allowance for credit losses of $7,462 and $5,805, respectively) | $94.7M | $75.5M | $20.8M | $52.5M |
| Prepaid expenses and other current assets | $45.4M | $41.3M | $38.8M | $32.5M |
| Total current assets | $406.0M | $339.1M | $296.5M | $347.9M |
| Property and equipment, net | $649.3M | $604.3M | $493.5M | $427.3M |
| Operating lease right-of-use assets | $77.7M | $83.5M | $85.1M | $69.0M |
| Goodwill | $305.8M | $220.2M | $220.2M | $218.7M |
| Intangible assets, net | $1.1B | $884.0M | $811.1M | $742.2M |
| Notes receivable (net of allowance for credit losses of $1,019 and $1,526, respectively) | $12.5M | $32.7M | $78.9M | $55.6M |
| Investments for employee benefit plans, at fair value | $50.2M | $47.6M | $39.8M | — |
| Investments in affiliates | $135.0M | $117.0M | $70.6M | $30.6M |
| Deferred income taxes | $75.4M | $108.3M | $89.5M | $88.2M |
| Other assets | $123.9M | $93.8M | $93.3M | $91.1M |
| Total assets | $2.9B | $2.5B | $2.4B | $2.1B |
| Accounts payable | $156.3M | $134.9M | $131.3M | $118.9M |
| Accrued expenses and other current liabilities | $125.3M | $136.7M | $109.2M | $131.4M |
| Deferred revenue | $100.7M | $102.1M | $108.3M | $92.7M |
| Liability for guest loyalty program | $85.0M | $89.0M | — | $90.0M |
| Total current liabilities | $467.3M | $462.7M | $942.7M | $435.9M |
| Long-term debt | $1.9B | $1.8B | $1.1B | $1.2B |
| Long-term deferred revenue | $130.5M | $132.3M | $133.5M | $134.1M |
| Deferred compensation and retirement plan obligations | $56.5M | $53.3M | $45.7M | $36.7M |
| Deferred income taxes | $25.3M | — | — | — |
| Operating lease liabilities | $108.0M | $113.3M | $109.5M | $71.0M |
| Liability for guest loyalty program | $39.8M | $40.6M | — | $47.4M |
| Other liabilities | $3.5M | $5.1M | $7.3M | $6.4M |
| Total liabilities | $2.7B | $2.6B | $2.4B | $1.9B |
| Common stock, $0.01 par value; 160,000,000 shares authorized; 95,065,638 shares issued at December 31, 2025 and December 31, 2024; 45,996,087 and 46,856,567 shares outstanding at December 31, 2025 and December 31, 2024, respectively | 951.0K | 951.0K | 951.0K | 951.0K |
| Additional paid-in-capital | $403.9M | $370.2M | $330.8M | $298.1M |
| Accumulated other comprehensive loss | ($5.3M) | ($6.2M) | ($5.7M) | ($5.2M) |
| Treasury stock, at cost; 49,069,551 and 48,209,071 shares at December 31, 2025 and December 31, 2024, respectively | -2.5B | -2.4B | -2.0B | -1.7B |
| Retained earnings | $2.3B | $2.0B | $1.8B | $1.6B |
| Total shareholders’ equity (deficit) | $181.2M | ($45.3M) | $35.6M | $154.7M |
| Total liabilities and shareholders’ equity (deficit) | $2.9B | $2.5B | $2.4B | $2.1B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $42.8M | $43.9M | $52.6M | $58.6M |
| Accounts receivable (net of allowance for credit losses of $71,067 and $51,189, respectively) | $279.8M | $243.5M | $236.5M | $218.5M |
| Income taxes receivable | $9.6M | $14.5M | $20.4M | $8.1M |
| Notes receivable (net of allowance for credit losses of $5,007 and $7,462, respectively) | $54.9M | $54.8M | $95.5M | $74.7M |
| Prepaid expenses and other current assets | $44.8M | $54.1M | $45.4M | $40.8M |
| Total current assets | $431.9M | $410.8M | $450.3M | $400.7M |
| Property and equipment (net of accumulated depreciation and amortization of $191,937 and $162,113, respectively) | $653.5M | $649.9M | $628.3M | $660.8M |
| Operating lease right-of-use assets | $75.0M | $76.6M | $79.0M | $79.7M |
| Goodwill | $302.9M | $304.6M | $304.5M | $220.2M |
| Intangible assets (net of accumulated amortization of $292,052 and $256,575, respectively) | $1.1B | $1.1B | $1.0B | $882.5M |
| Notes receivable (net of allowance for credit losses of $3,671 and $1,019, respectively) | $28.6M | $27.4M | $16.3M | $34.2M |
| Investments for employee benefit plans, at fair value | $54.8M | $47.9M | $49.0M | $48.2M |
| Investments in affiliates | $137.3M | $132.8M | $134.4M | $125.5M |
| Deferred income taxes | $76.4M | $76.7M | $88.0M | $107.7M |
| Other assets | $122.7M | $121.8M | $112.2M | $105.3M |
| Total assets | $3.0B | $2.9B | $2.9B | $2.7B |
| Accounts payable | $165.4M | $146.2M | $154.2M | $142.9M |
| Accrued expenses and other current liabilities | $110.9M | $86.7M | $114.9M | $116.6M |
| Deferred revenue | $104.3M | $112.9M | $109.5M | $105.8M |
| Liability for guest loyalty program | $85.9M | $88.2M | $90.0M | $86.7M |
| Total current liabilities | $466.5M | $434.0M | $468.5M | $451.9M |
| Long-term debt | $2.0B | $2.0B | $1.9B | $1.9B |
| Long-term deferred revenue | $134.0M | $129.9M | $134.6M | $128.6M |
| Deferred compensation and retirement plan obligations | $61.1M | $54.3M | $55.0M | $54.0M |
| Deferred income taxes | $32.9M | $34.1M | $22.9M | — |
| Operating lease liabilities | $104.3M | $106.4M | $109.8M | $111.2M |
| Liability for guest loyalty program | $41.1M | $41.6M | $42.7M | $39.6M |
| Other liabilities | $4.4M | $3.6M | $5.7M | $5.5M |
| Total liabilities | $2.8B | $2.8B | $2.8B | $2.7B |
| Common stock, $0.01 par value; 160,000,000 shares authorized; 95,065,638 shares issued at June 30, 2026 and December 31, 2025; 45,179,440 and 45,996,087 shares outstanding at June 30, 2026 and December 31, 2025, respectively | 951.0K | 951.0K | 951.0K | 951.0K |
| Additional paid-in-capital | $410.1M | $407.8M | $397.8M | $387.2M |
| Accumulated other comprehensive loss | ($9.9M) | ($8.2M) | ($5.6M) | ($4.1M) |
| Treasury stock, at cost; 49,886,198 and 49,069,551 shares at June 30, 2026 and December 31, 2025, respectively | -2.6B | -2.6B | -2.5B | -2.5B |
| Retained earnings | $2.4B | $2.3B | $2.3B | $2.1B |
| Total shareholders’ equity | $142.2M | $137.4M | $149.8M | ($26.2M) |
| Total liabilities and shareholders’ equity | $3.0B | $2.9B | $2.9B | $2.7B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $369.9M | $299.7M | $258.5M | $332.2M |
| Depreciation and amortization | $59.7M | $43.3M | $39.7M | $30.4M |
| Depreciation and amortization – reimbursable expenses from franchised and managed properties | $19.6M | — | — | — |
| Franchise agreement acquisition cost amortization | $32.0M | $28.7M | $20.0M | $15.7M |
| Gain from an acquisition of a joint venture | ($100.0M) | — | — | — |
| Gain on sale of assets | ($713.0K) | $0 | $0 | — |
| Loss (gain) on extinguishment of debt | $0 | $331.0K | ($4.4M) | $0 |
| Loss on impairment of long-lived assets | $0 | $0 | $3.7M | $0 |
| Non-cash share-based compensation and other charges | $38.3M | $43.3M | $46.8M | — |
| Non-cash interest, investments, and affiliate income, net | ($6.4M) | ($7.3M) | ($8.7M) | $7.4M |
| Deferred income taxes | $19.8M | ($19.0M) | ($1.3M) | ($19.6M) |
| Equity in net loss (gain) of affiliates, less distributions received | $19.8M | ($2.3M) | ($1.6M) | $489.0K |
| Franchise agreement acquisition costs, net of reimbursements | ($83.4M) | ($112.2M) | ($98.3M) | ($54.5M) |
| Change in working capital and other | ($98.0M) | $17.4M | $6.1M | — |
| Net cash provided by operating activities | $270.4M | $319.4M | $296.6M | $367.1M |
| Investments in other property and equipment | ($38.9M) | ($39.1M) | ($116.3M) | ($90.0M) |
| Investments in owned hotel properties | ($106.9M) | ($106.8M) | — | — |
| Contributions to investments in affiliates | ($93.7M) | ($52.8M) | ($38.9M) | ($3.1M) |
| Issuances of notes receivable | ($6.9M) | ($38.0M) | ($4.3M) | ($5.6M) |
| Collections of notes receivable | $7.4M | $32.1M | $10.9M | $975.0K |
| Business acquisition, net of cash acquired | ($73.4M) | $0 | $0 | ($550.4M) |
| Proceeds from the sale of assets | $52.0M | $0 | $0 | $166.6M |
| Purchases of equity securities | $0 | $0 | ($112.4M) | — |
| Proceeds from sales of equity securities | $0 | $108.1M | — | — |
| Distributions from sales of affiliates | $44.6M | $15.8M | $868.0K | — |
| Other items, net | ($2.5M) | ($4.1M) | ($797.0K) | $1.3M |
| Net cash used in investing activities | ($218.3M) | ($84.6M) | ($265.6M) | ($442.4M) |
| Net borrowings (repayments) pursuant to revolving credit facilities | $133.0M | $111.5M | ($131.5M) | $360.0M |
| Proceeds from the issuance of long-term debt | $0 | $593.6M | — | — |
| Proceeds from economic development loans | $1.9M | — | — | — |
| Repayment of long-term debt | $0 | ($500.0M) | $0 | ($216.6M) |
| Debt issuance costs | $0 | ($8.1M) | ($1.6M) | ($44.0K) |
| Purchases of treasury stock | ($138.3M) | ($380.7M) | ($362.8M) | ($434.8M) |
| Dividends paid | ($53.5M) | ($55.5M) | ($56.5M) | ($52.5M) |
| Proceeds from the exercise of stock options | $6.8M | $17.5M | $6.3M | $3.8M |
| Net cash used in financing activities | ($50.1M) | ($221.7M) | ($45.9M) | ($394.1M) |
| Net change in cash and cash equivalents | $2.1M | $13.1M | ($15.0M) | ($469.5M) |
| Effect of foreign exchange rate changes on cash and cash equivalents | $2.7M | $301.0K | $197.0K | ($520.0K) |
| Cash and cash equivalents, beginning of period | $40.2M | $26.8M | $41.6M | $511.6M |
| Cash and cash equivalents, end of period | $45.0M | $40.2M | $26.8M | — |
| Federal income taxes, net of refunds and transferable tax credits | $65.3M | — | — | — |
| State income taxes, net of refunds | $14.3M | — | — | — |
| Foreign income taxes, net of refunds | $5.1M | — | — | — |
| Interest, net of capitalized interest | $90.3M | $67.2M | $60.8M | $46.9M |
| Dividends declared but not paid | $13.2M | $13.5M | $14.9M | $13.1M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $84.6M | $20.3M | $306.3M | $126.3M |
| Depreciation and amortization | $33.6M | $16.8M | $42.9M | $27.2M |
| Depreciation and amortization – reimbursable expenses from franchised and managed properties | $11.2M | $5.1M | $14.3M | $9.4M |
| Franchise agreement acquisition cost amortization | $20.2M | $9.6M | $25.0M | $17.3M |
| Non-cash share-based compensation and other charges | $13.1M | $8.4M | $27.4M | $19.4M |
| Non-cash interest, investments, and affiliate loss (income), net | ($3.4M) | $1.8M | ($6.1M) | ($1.7M) |
| Deferred income taxes | $7.5M | $7.7M | ($17.7M) | $850.0K |
| Equity in net loss of affiliates, less distributions received | $7.5M | $6.3M | $16.4M | $692.0K |
| Franchise agreement acquisition costs, net of reimbursements | ($72.2M) | ($42.8M) | ($62.4M) | ($41.5M) |
| Change in working capital and other | ($34.8M) | ($56.3M) | ($60.7M) | ($41.9M) |
| Net cash provided by operating activities | $67.4M | ($23.2M) | $184.8M | $116.1M |
| Investments in other property and equipment | ($17.9M) | ($10.1M) | ($26.9M) | ($18.3M) |
| Investments in owned hotel properties | ($27.3M) | ($16.8M) | ($85.3M) | ($65.7M) |
| Contributions to investments in affiliates | ($10.6M) | ($3.9M) | ($90.0M) | ($9.4M) |
| Issuances of notes receivable | ($1.9M) | ($236.0K) | ($6.4M) | ($3.4M) |
| Collections of notes receivable | $24.6M | $24.6M | $3.0M | $2.8M |
| Other items, net | ($995.0K) | $197.0K | $4.5M | ($1.2M) |
| Net cash used in investing activities | ($34.0M) | ($6.2M) | ($177.9M) | ($95.1M) |
| Net borrowings pursuant to revolving credit facilities | $96.3M | $97.0M | $148.5M | $130.0M |
| Purchases of treasury stock | ($107.5M) | ($56.5M) | ($113.0M) | ($112.8M) |
| Dividends paid | ($26.3M) | ($13.1M) | ($40.2M) | ($26.9M) |
| Proceeds from the exercise of stock options | $2.3M | $880.0K | $7.5M | $6.4M |
| Net cash used in financing activities | ($35.2M) | $28.3M | $3.1M | ($3.2M) |
| Net change in cash and cash equivalents | ($1.8M) | ($1.1M) | $10.0M | $17.7M |
| Effect of foreign exchange rate changes on cash and cash equivalents | ($326.0K) | ($60.0K) | $2.4M | $750.0K |
| Cash and cash equivalents, beginning of period | $45.0M | $45.0M | $40.2M | $40.2M |
| Cash and cash equivalents, end of period | $42.8M | $43.9M | $52.6M | $58.6M |
| Income taxes, net of refunds and transferable tax credits | $20.4M | $4.0M | $76.0M | $41.5M |
| Interest, net of capitalized interest | $46.8M | $32.2M | $76.3M | $44.9M |
| Dividends declared but not paid | $13.0M | $13.1M | $13.3M | $13.3M |
| Investments in property, equipment, and intangible assets recognized in accounts payable and accrued expense liabilities | $12.4M | $12.9M | $20.4M | $20.6M |
Choice Hotels International Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.