Choice Hotels International (CHH) FY2023 results: revenue $1.5 billion, up 10.1% on the year
Choice Hotels International Inc. (CHH) reported revenue of $1.5 billion for fiscal 2023, the year ended 31 December 2023, up 10.1% on the year before. Net income was $259 million, down 22.2%, and diluted earnings per share $5.07. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2024.
Revenue
$1.5 billion
+10.1% on the year
FY2016FY2023
Operating margin
24.3%
34.1% a year earlier
FY2016FY2023
Net income
$259 million
-22.2% on the year
FY2016FY2023
Diluted EPS
$5.07
-15.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
297
367
384
-19.2%
Capital expenditure
68.6
65.8
74.3
+4.2%
Free cash flow
228
301
309
-24.3%
Free cash flow margin
14.8%
21.5%
28.9%
Cash from investing
-266
-442
-78.9
Cash from financing
-45.9
-394
-27.7
Depreciation and amortisation
45.0
30.4
24.8
+48.0%
Share-based compensation
40.5
40.5
23.4
+0.1%
Buybacks
363
435
13.4
-16.6%
Dividends paid
56.5
52.5
25.0
+7.4%
Dividend per share
$0.29
$0.24
n/a
+21.1%
Diluted shares, weighted
51m
55m
56m
-8.0%
Shares outstanding at period end
50m
52m
56m
-5.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
35.6
155
266
-77.0%
Debt
1,568
1,204
1,060
+30.3%
Operating lease liabilities
109
71.0
35.5
+54.2%
Other liabilities
682
673
570
+1.3%
Total liabilities and equity
2,395
2,102
1,932
+13.9%
Fixed assets
493
427
377
+15.5%
Goodwill
220
219
159
+0.7%
Intangible assets
811
742
312
+9.3%
Cash and equivalents
26.8
41.6
512
-35.6%
Receivables
196
217
153
-9.6%
Other assets
647
456
418
+42.0%
Total assets
2,395
2,102
1,932
+13.9%
10-K for the year ended 31 December 2023, filed 20 February 2024: the filing.