Choice Hotels International (CHH) FY2020 results: revenue $774 million, down 30.6% on the year
Choice Hotels International Inc. (CHH) reported revenue of $774 million for fiscal 2020, the year ended 31 December 2020, down 30.6% on the year before. Net income was $75 million, down 66.2%, and diluted earnings per share $1.35. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$774 million
-30.6% on the year
FY2013FY2020
Operating margin
15.7%
28.6% a year earlier
FY2013FY2020
Net income
$75 million
-66.2% on the year
FY2013FY2020
Diluted EPS
$1.35
-66.1% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
774
1,115
1,041
-30.6%
Selling, general and administrative
149
169
170
-11.8%
Operating income
122
319
318
-61.8%
Operating margin
15.7%
28.6%
30.6%
Interest expense
49.0
46.8
45.9
+4.7%
Pre-tax income
53.0
270
273
-80.4%
Income tax
-22.4
47.1
56.9
Effective tax rate
-42.2%
17.4%
20.8%
Net income
75.4
223
216
-66.2%
Net margin
9.7%
20.0%
20.8%
Diluted EPS
$1.35
$3.98
$3.80
-66.1%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
110
271
243
-59.3%
Capital expenditure
33.6
57.3
47.7
-41.4%
Free cash flow
76.5
213
195
-64.1%
Free cash flow margin
9.9%
19.1%
18.7%
Cash from investing
-24.5
-251
-321
Cash from financing
115
-12.5
-129
Depreciation and amortisation
25.8
18.8
14.3
+37.2%
Share-based compensation
7.2
16.6
15.0
-56.5%
Buybacks
55.5
50.6
149
+9.5%
Dividends paid
25.3
48.1
48.7
-47.4%
Dividend per share
n/a
$0.87
$0.86
Diluted shares, weighted
56m
56m
57m
-0.2%
Shares outstanding at period end
56m
56m
56m
-0.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-5.8
-23.5
-184
Debt
1,059
844
754
+25.4%
Operating lease liabilities
12.7
21.3
0.0
-40.1%
Other liabilities
522
545
569
-4.3%
Total liabilities and equity
1,587
1,387
1,138
+14.5%
Fixed assets
335
352
128
-4.7%
Goodwill
159
159
169
0.0%
Intangible assets
304
290
271
+4.6%
Cash and equivalents
235
33.8
26.6
+595.3%
Receivables
150
142
138
+5.9%
Other assets
405
410
406
-1.3%
Total assets
1,587
1,387
1,138
+14.5%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.