Choice Hotels International (CHH) FY2018 results: revenue $1.0 billion, up 10.6% on the year
Choice Hotels International Inc. (CHH) reported revenue of $1.0 billion for fiscal 2018, the year ended 31 December 2018, up 10.6% on the year before. Net income was $216 million, up 76.9%, and diluted earnings per share $3.80. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$1.0 billion
+10.6% on the year
FY2011FY2018
Operating margin
30.6%
30.8% a year earlier
FY2011FY2018
Net income
$216 million
+76.9% on the year
FY2011FY2018
Diluted EPS
$3.80
+88.1% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,041
941
808
+10.6%
Selling, general and administrative
170
166
155
+2.5%
Operating income
318
290
187
+10.0%
Operating margin
30.6%
30.8%
23.2%
Interest expense
45.9
45.0
44.4
+1.9%
Pre-tax income
273
249
148
+9.6%
Income tax
56.9
127
41.4
-55.2%
Effective tax rate
20.8%
50.9%
28.0%
Net income
216
122
107
+76.9%
Net margin
20.8%
13.0%
13.2%
Diluted EPS
$3.80
$2.02
$2.46
+88.1%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
243
257
152
-5.6%
Capital expenditure
47.7
23.4
25.2
+103.4%
Free cash flow
195
234
127
-16.5%
Free cash flow margin
18.7%
24.9%
15.7%
Cash from investing
-321
-90.1
-98.5
Cash from financing
-129
-136
-44.1
Depreciation and amortisation
14.3
6.7
7.0
+114.5%
Share-based compensation
15.0
24.9
14.6
-39.8%
Buybacks
149
9.8
35.9
+1,416.0%
Dividends paid
48.7
48.7
46.2
+0.1%
Dividend per share
$0.86
n/a
n/a
Diluted shares, weighted
57m
57m
56m
+0.1%
Shares outstanding at period end
56m
57m
56m
-1.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
-184
-259
-365
Debt
754
725
839
+3.9%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
569
528
434
+7.6%
Total liabilities and equity
1,138
995
908
+14.4%
Fixed assets
128
83.4
84.1
+53.0%
Goodwill
169
80.8
78.9
+109.3%
Intangible assets
271
100
15.7
+169.9%
Cash and equivalents
26.6
235
202
-88.7%
Receivables
138
126
107
+9.7%
Other assets
406
369
420
+9.9%
Total assets
1,138
995
908
+14.4%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.