Choice Hotels International (CHH) FY2014 results: revenue $758 million, up 4.6% on the year
Choice Hotels International Inc. (CHH) reported revenue of $758 million for fiscal 2014, the year ended 31 December 2014, up 4.6% on the year before. Net income was $123 million, up 8.3%, and diluted earnings per share $2.10. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$758 million
+4.6% on the year
FY2008FY2014
Operating margin
28.3%
27.1% a year earlier
FY2008FY2014
Net income
$123 million
+8.3% on the year
FY2008FY2014
Diluted EPS
$2.10
+8.8% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
758
724
692
+4.6%
Selling, general and administrative
121
112
102
+8.7%
Operating income
215
196
193
+9.3%
Operating margin
28.3%
27.1%
27.9%
Interest expense
41.5
42.5
27.2
-2.5%
Pre-tax income
174
159
169
+9.5%
Income tax
52.3
45.3
48.2
+15.4%
Effective tax rate
30.1%
28.6%
28.5%
Net income
123
114
122
+8.3%
Net margin
16.2%
15.7%
17.6%
Diluted EPS
$2.10
$1.93
$2.09
+8.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
188
154
150
+21.9%
Capital expenditure
20.9
33.4
15.4
-37.3%
Free cash flow
167
121
135
+38.3%
Free cash flow margin
22.0%
16.6%
19.5%
Cash from investing
-17.6
-29.4
-47.1
Cash from financing
-121
-88.3
-76.7
Depreciation and amortisation
9.4
9.1
7.7
+3.4%
Share-based compensation
9.4
11.5
11.3
-18.3%
Buybacks
78.0
4.0
22.6
+1,866.5%
Dividends paid
43.5
32.8
654
+32.7%
Dividend per share
n/a
n/a
$0.74
Diluted shares, weighted
58m
58m
58m
-0.1%
Shares outstanding at period end
57m
59m
58m
-2.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
-429
-453
-539
Debt
773
783
847
-1.4%
Other liabilities
294
209
223
+40.5%
Total liabilities and equity
638
540
532
+18.2%
Fixed assets
77.3
67.9
51.7
+13.9%
Goodwill
65.8
65.8
65.8
0.0%
Intangible assets
8.9
10.0
13.5
-10.5%
Cash and equivalents
215
168
134
+28.1%
Receivables
91.7
82.4
80.0
+11.3%
Other assets
179
146
187
+22.7%
Total assets
638
540
532
+18.2%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.