InterContinental Hotels Group PLC (IHG) annual results, year to 31 December 2025: revenue USD 5,189 million, from the 20-F
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.
The year to 31 December 2025, against the year before
| Year to | Dec 2024 † | Dec 2025 |
|---|---|---|
| Revenue | 4,923 | 5,189 |
| Cost of sales | 745 | 764 |
| Operating profit | 1,041 | 1,198 |
| Finance costs | 178 | 202 |
| Profit before tax | 897 | 1,074 |
| Income tax | 269 | 315 |
| Profit for the year | 628 | 759 |
| Profit attributable to shareholders | 628 | 758 |
| Filing | 20-F | 20-F |
USD million, from the 20-F on the SEC's EDGAR, linked in the last row, on the IFRS tags the company filed. A line the company does not file under the standard tag is left out rather than estimated.
USD per ordinary share, as filed.
Cash flow
| Year to | Dec 2024 † | Dec 2025 |
|---|---|---|
| Cash from operations | 724 | 898 |
| Purchase of property, plant and equipment | 29.0 | 28.0 |
| Free cash flow | 695 | 870 |
| Dividends paid | 259 | 270 |
| Filing | 20-F | 20-F |
USD million. Free cash flow is cash from operations less the purchase of property, plant and equipment, arithmetic on the two filed lines.
Balance sheet at year end
| Year to | Dec 2024 † | Dec 2025 |
|---|---|---|
| Total assets | 4,748 | 5,345 |
| Equity attributable to shareholders | -2,312 | -2,741 |
| Cash and cash equivalents | 1,008 | 1,129 |
| Borrowings, as filed | 3,274 | 4,201 |
| Lease liabilities | 414 | 406 |
| Trade and other receivables | 785 | 833 |
| Inventories | 4.0 | 5.0 |
| Goodwill | 331 | 335 |
| Filing | 20-F | 20-F |
USD million, at each fiscal year end.
Ratios on the filed lines
| Year to | Dec 2024 † | Dec 2025 |
|---|---|---|
| Operating margin | 21.1% | 23.1% |
| Net margin | 12.8% | 14.6% |
| Free cash flow margin | 14.1% | 16.8% |
| Effective tax rate | 30.0% | 29.3% |
| Filing | 20-F | 20-F |
Arithmetic on the filed lines of the same year.
Every annual report here
- Year to 31 December 2025, this page
- Year to 31 December 2024
- Year to 31 December 2023
- Year to 31 December 2022
- Year to 31 December 2021
- Year to 31 December 2020
- Year to 31 December 2019
- Year to 31 December 2018
- Year to 31 December 2017
- Year to 31 December 2016
- Year to 31 December 2015
Source
20-F for the year to 31 December 2025, filed 26 February 2026, accession 0000858446-26-000010: the filing on EDGAR. All of InterContinental Hotels Group PLC's filings: EDGAR company page. The figures are in US dollars as filed.
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