InterContinental Hotels Group PLC (IHG)

Name: InterContinental Hotels Group PLC (IHG) annual results, Dec 2025: the 20-F figures in US dollars
Creator: GreekSoup
License: https://creativecommons.org/licenses/by/4.0/

InterContinental Hotels Group PLC files a 20-F with the SEC once a year, in US dollars. In the year to 31 December 2025 it reported revenue of USD 5,189 million, up 5.4% on the year before. Its profit attributable to shareholders was USD 758 million, up 20.7%, and diluted earnings per share USD 4.87.

Earnings per share are per ordinary share, in US dollars. The share that trades in the US can be a depositary share standing for more or fewer ordinary shares, so no price ratio is worked out on this page.

The public record on IHG

Planned insider sales	no Form 144 notice in twelve months
Options tape	no listed options on CBOE's chain
Holders	6 of the followed funds hold it; largest FMR LLC; 0 Schedule 13D or 13G filings in twelve months
Congress	1 House trade disclosed in six months
Short interest	378,567 shares short, 2.12 days to cover at 15 September 2026

Profit and loss, 11 fiscal years

Year to	Dec 2025	Dec 2024^*	Dec 2023^*	Dec 2022	Dec 2021	Dec 2020	Dec 2019^*	Dec 2018^*	Dec 2017^*	Dec 2016^*	Dec 2015^*
Revenue	5,189	4,923	4,624	3,892	2,907	2,394	4,627	4,337	1,784	1,715	1,803
Cost of sales	764	745	742	648	486	354	782	671	554	548	640
Operating profit	1,198	1,041	1,066	628	494	-153	630	582	744	712	1,499
Finance costs	202	178	126	118	147	144	121	101	95.0	86.0	92.0
Profit before tax	1,074	897	1,010	540	361	-280	542	482	653	632	1,412
Income tax	315	269	260	164	96.0	-20.0	156	132	118	173	188
Profit for the year	759	628	750	376	265	-260	386	350	535	459	1,224
Profit attributable to shareholders	758	628	750	375	266	-260	385	349	534	456	1,222

USD million, from each year's annual report on the SEC's EDGAR, the year linked to its filing, on the IFRS tags the company filed. A line the company does not file under the standard tag is left out rather than estimated. A year marked * shows the figure as the company restated it in a later annual report (Dec 2015, Dec 2016, Dec 2017, Dec 2018, Dec 2019, Dec 2023, Dec 2024); the first-filed figure is in the CSV. Profit for the year includes the part that belongs to minority shareholders; profit attributable to shareholders is the part EPS is struck on.

Year to	Dec 2025	Dec 2024^*	Dec 2023^*	Dec 2022	Dec 2021	Dec 2020	Dec 2019^*	Dec 2018^*	Dec 2017^*	Dec 2016^*	Dec 2015^*
Diluted EPS	4.87	3.85	4.41	2.06	1.45	-1.43	2.09	1.82	2.75	2.13	513.40
Basic EPS	4.91	3.90	4.44	2.07	1.45	-1.43	2.10	1.84	2.77	2.15	520.00

USD per ordinary share, as filed.

Cash flow

Year to	Dec 2025	Dec 2024^*	Dec 2023^*	Dec 2022	Dec 2021	Dec 2020	Dec 2019^*	Dec 2018^*	Dec 2017^*	Dec 2016^*	Dec 2015^*
Cash from operations	898	724	893	646	636	137	653	709	616	710	628
Purchase of property, plant and equipment	28.0	29.0	28.0	54.0	17.0	26.0	75.0	46.0	44.0	32.0	42.0
Free cash flow	870	695	865	592	619	111	578	663	572	678	586
Dividends paid	270	259	245	233	n/a	n/a	721	199	593	1,693	188

USD million. Purchase of property, plant and equipment is the cash line as filed; purchases of intangible assets and acquisitions are not in it. Free cash flow is cash from operations less that purchase, arithmetic on the two filed lines.

Balance sheet at year end

Year to	Dec 2025	Dec 2024^*	Dec 2023^*	Dec 2022	Dec 2021	Dec 2020	Dec 2019^*	Dec 2018^*	Dec 2017^*	Dec 2016^*	Dec 2015^*
Total assets	5,345	4,748	4,813	4,216	4,716	5,039	4,194	4,285	3,322	2,762	n/a
Equity attributable to shareholders	-2,741	-2,312	-1,950	-1,615	-1,481	-1,857	-1,473	-1,139	-1,361	-1,154	-118
Cash and cash equivalents	1,129	1,008	1,322	976	1,450	1,675	195	704	168	206	n/a
Borrowings, as filed	4,201	3,274	3,166	2,396	2,845	3,767	2,165	2,014	2,019	1,712	n/a
Lease liabilities	406	414	426	427	419	450	660	670	n/a	n/a	n/a
Trade and other receivables	833	785	740	646	574	514	666	610	549	469	n/a
Inventories	5.0	4.0	5.0	4.0	4.0	5.0	6.0	5.0	3.0	3.0	n/a
Goodwill	335	331	336	335	341	n/a	339	313	237	232	n/a

USD million, at each fiscal year end. Borrowings is the company's own stated total where it files one; it is never added up from its parts here.

Ratios on the filed lines

Year to	Dec 2025	Dec 2024^*	Dec 2023^*	Dec 2022	Dec 2021	Dec 2020	Dec 2019^*	Dec 2018^*	Dec 2017^*	Dec 2016^*	Dec 2015^*
Operating margin	23.1%	21.1%	23.1%	16.1%	17.0%	-6.4%	13.6%	13.4%	41.7%	41.5%	83.1%
Net margin	14.6%	12.8%	16.2%	9.6%	9.2%	-10.9%	8.3%	8.0%	29.9%	26.6%	67.8%
Free cash flow margin	16.8%	14.1%	18.7%	15.2%	21.3%	4.6%	12.5%	15.3%	32.1%	39.5%	32.5%
Effective tax rate	29.3%	30.0%	25.7%	30.4%	26.6%	n/a	28.8%	27.4%	18.1%	27.4%	13.3%

Arithmetic on the filed lines of the same year: margins over revenue, return on equity as profit attributable to shareholders over year-end equity, tax over profit before tax.

Annual reports on EDGAR

Form	Year to	Filed
20-F	31 December 2025	26 February 2026	EDGAR
20-F	31 December 2024	27 February 2025	EDGAR
20-F	31 December 2023	29 February 2024	EDGAR
20-F	31 December 2022	2 March 2023	EDGAR
20-F	31 December 2021	3 March 2022	EDGAR
20-F	31 December 2020	4 March 2021	EDGAR
20-F	31 December 2019	27 February 2020	EDGAR
20-F	31 December 2018	28 February 2019	EDGAR
20-F/A	31 December 2017	8 March 2018	EDGAR
20-F	31 December 2017	1 March 2018	EDGAR
20-F	31 December 2016	2 March 2017	EDGAR
20-F	31 December 2015	3 March 2016	EDGAR

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