InterContinental Hotels Group PLC (IHG) Financial Ratios
26 years of historical data (2000–2025) · Consumer Cyclical · Travel Lodging
EV/EBITDA
↓
21.75
↑+22% vs avg
5yr avg: 17.85
30Y Low5.2·High51.1
P/FCF
↑
29.58
↑+27% vs avg
5yr avg: 23.21
30Y Low3.9·High194.3
P/B Ratio
N/A
—
5yr avg: N/A
30Y Low1.1·High45.5
ROE
N/A
—
5yr avg: N/A
30Y Low1%·High383%
Debt/EBITDA
↓
3.44
↓-4% vs avg
5yr avg: 3.57
30Y Low1.0·High15.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
IHG Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
InterContinental Hotels Group PLC trades at 35.1x earnings, 13% above its 5-year average of 31.1x, sitting at the 91st percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 21.2x, the stock trades at a premium of 66%. On a free-cash-flow basis, the stock trades at 29.6x P/FCF, 27% above the 5-year average of 23.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $25.7B | $21.9B | $20.4B | $15.5B | $10.7B | $12.0B | $11.9B | $12.6B | $10.5B | $12.3B | $9.5B |
| Enterprise Value | $29.2B | $25.4B | $23.1B | $17.8B | $12.6B | $13.8B | $14.4B | $15.3B | $12.0B | $14.2B | $11.0B |
| P/E Ratio → | 35.12 | 28.92 | 32.45 | 20.68 | 28.60 | 44.97 | — | 32.86 | 29.93 | 22.82 | 22.88 |
| P/S Ratio | 4.96 | 4.23 | 4.14 | 4.16 | 2.76 | 4.13 | 4.95 | 2.73 | 2.42 | 3.02 | 5.53 |
| P/B Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/FCF | 29.58 | 25.22 | 31.54 | 19.11 | 19.62 | 20.55 | 194.29 | 26.66 | 20.63 | 34.13 | 17.57 |
| P/OCF | 28.66 | 24.43 | 28.14 | 17.36 | 16.62 | 18.87 | 86.51 | 19.35 | 15.74 | 19.43 | 12.62 |
P/E links to full P/E history page with 30-year chart
IHG EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
InterContinental Hotels Group PLC's enterprise value stands at 21.7x EBITDA, 22% above its 5-year average of 17.8x. The Consumer Cyclical sector median is 12.2x, placing the stock at a 79% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.90 | 4.68 | 4.78 | 3.23 | 4.75 | 6.03 | 3.30 | 2.77 | 3.48 | 6.41 |
| EV / EBITDA | 21.75 | 18.92 | 19.44 | 14.66 | 16.09 | 20.14 | 42.86 | 19.08 | 17.40 | 17.58 | 13.66 |
| EV / EBIT | 24.40 | 21.14 | 20.96 | 15.85 | 19.03 | 27.63 | — | 23.23 | 20.81 | 19.05 | 15.31 |
| EV / FCF | — | 29.23 | 35.69 | 21.98 | 23.00 | 23.65 | 236.77 | 32.21 | 23.67 | 39.26 | 20.36 |
IHG Profitability
Margins and return-on-capital ratios measuring operating efficiency
InterContinental Hotels Group PLC earns an operating margin of 23.1%, significantly above the Consumer Cyclical sector average of 2.0%. Operating margins have compressed from 28.6% to 23.1% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROIC of 159.6% represents excellent returns on invested capital versus a sector median of 5.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.0% | 32.0% | 29.6% | 52.0% | 28.0% | 30.7% | 22.4% | 26.9% | 24.9% | 27.6% | 66.2% |
| Operating Margin | 23.1% | 23.1% | 21.1% | 28.6% | 16.1% | 17.0% | 6.9% | 13.6% | 13.1% | 17.9% | 39.5% |
| Net Profit Margin | 14.6% | 14.6% | 12.8% | 20.1% | 9.6% | 9.2% | -10.9% | 8.3% | 8.1% | 13.3% | 24.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | — | — | — | — | — |
| ROA | 15.0% | 15.0% | 13.1% | 16.6% | 8.4% | 5.5% | -5.8% | 10.0% | 10.4% | 18.2% | 12.4% |
| ROIC | 159.6% | 159.6% | 207.6% | 258.3% | 162.7% | 68.5% | 13.0% | 57.9% | 83.4% | 84.2% | 63.8% |
| ROCE | 39.5% | 39.5% | 38.3% | 40.3% | 21.8% | 15.8% | 5.7% | 25.3% | 27.5% | 41.3% | 32.3% |
IHG Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
InterContinental Hotels Group PLC carries a Debt/EBITDA ratio of 3.4x, which is moderately leveraged (28% below the sector average of 4.8x). Net debt stands at $3.5B ($4.6B total debt minus $1.1B cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Debt / EBITDA | 3.44 | 3.44 | 3.11 | 2.95 | 3.61 | 4.76 | 12.51 | 3.53 | 3.25 | 2.50 | 2.13 |
| Net Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / EBITDA | 2.60 | 2.60 | 2.26 | 1.91 | 2.36 | 2.64 | 7.69 | 3.29 | 2.24 | 2.30 | 1.87 |
| Debt / FCF | — | 4.01 | 4.15 | 2.87 | 3.38 | 3.11 | 42.48 | 5.55 | 3.04 | 5.13 | 2.79 |
| Interest Coverage | — | — | 5.13 | 11.71 | 4.91 | 3.36 | 1.15 | 5.21 | 5.66 | 9.58 | 7.88 |
IHG Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.98x is below 1.0, meaning current liabilities exceed current assets — though the company's $1.1B cash position helps mitigate short-term liquidity concerns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.98 | 0.98 | 0.97 | 0.97 | 1.09 | 1.27 | 1.20 | 0.67 | 1.00 | 0.67 | 0.69 |
| Quick Ratio | 0.97 | 0.97 | 0.97 | 0.97 | 1.08 | 1.27 | 1.20 | 0.67 | 1.00 | 0.67 | 0.68 |
| Cash Ratio | 0.54 | 0.54 | 0.53 | 0.58 | 0.63 | 0.89 | 0.87 | 0.14 | 0.51 | 0.14 | 0.20 |
| Asset Turnover | — | 0.97 | 1.04 | 0.77 | 0.92 | 0.62 | 0.48 | 1.16 | 1.16 | 1.35 | 0.59 |
| Inventory Turnover | 706.20 | 706.20 | 867.00 | 357.80 | 700.50 | 503.50 | 371.60 | 563.83 | 651.20 | 983.33 | 193.33 |
| Days Sales Outstanding | — | 61.90 | 55.75 | 60.21 | 49.14 | 53.86 | 50.92 | 45.36 | — | — | — |
IHG Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
InterContinental Hotels Group PLC returns 4.5% to shareholders annually — split between a 1.0% dividend yield and 3.5% buyback yield. The payout ratio of 35.6% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 2.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.0% | 1.2% | 1.3% | 1.6% | 2.2% | — | — | 5.7% | 1.9% | 4.8% | 17.8% |
| Payout Ratio | 35.6% | 35.6% | 41.2% | 32.7% | 62.1% | — | — | 187.3% | 56.7% | 109.8% | 408.9% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.8% | 3.5% | 3.1% | 4.8% | 3.5% | 2.2% | — | 3.0% | 3.3% | 4.4% | 4.4% |
| FCF Yield | 3.4% | 4.0% | 3.2% | 5.2% | 5.1% | 4.9% | 0.5% | 3.8% | 4.8% | 2.9% | 5.7% |
| Buyback Yield | 3.5% | 4.1% | 3.9% | 5.1% | 4.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% |
| Total Shareholder Yield | 4.5% | 5.4% | 5.2% | 6.7% | 6.7% | 0.0% | 0.0% | 5.7% | 1.9% | 4.8% | 18.0% |
| Shares Outstanding | — | $156M | $163M | $170M | $184M | $184M | $182M | $184M | $182M | $184M | $195M |
Peer Comparison
Compare IHG with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 IHGYou | $26B | 35.1 | 21.7 | 29.6 | 32.0% | 23.1% | — | 159.6% | 3.4 |
 MAR | $104B | 41.7 | 27.3 | 40.1 | 21.3% | 15.8% | — | 25.0% | 3.8 |
 HLT | $79B | 57.0 | 32.8 | 39.2 | 41.1% | 22.4% | — | 24.7% | 5.5 |
 H | $19B | -374.2 | 26.3 | 121.4 | 11.2% | 7.8% | -1.4% | 5.8% | 5.4 |
 WH | $6B | 34.1 | 19.9 | 19.7 | 58.9% | 28.4% | 34.5% | 9.4% | 6.5 |
 CHH | $5B | 14.6 | 13.0 | 42.2 | 40.9% | 28.4% | 544.2% | 16.7% | 3.8 |
 RHP | $8B | 33.2 | 15.3 | 34.0 | 9.9% | 18.9% | 22.7% | 8.2% | 5.6 |
 SHO | $2B | 281.6 | 14.5 | 28.2 | 4.7% | 7.8% | 1.2% | 2.0% | 4.4 |
 PK | $3B | -10.4 | 12.4 | 29.0 | 2.0% | 8.9% | -8.5% | 2.2% | 7.6 |
 HST | $17B | 22.7 | 13.6 | 20.0 | 2.6% | 13.6% | 11.3% | 5.3% | 3.5 |
 DRH | $3B | 28.0 | 13.2 | 15.5 | 55.2% | 14.4% | 6.6% | 4.6% | 4.3 |
| Consumer Cyclical Median | — | 21.2 | 12.2 | 15.6 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 26 years · Updated daily
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into IHG consensus models and risk factors.
View Analysis
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
IHG — Frequently Asked Questions
Quick answers to the most common questions about buying IHG stock.
What is InterContinental Hotels Group PLC's P/E ratio?
InterContinental Hotels Group PLC's current P/E ratio is 35.1x. The historical average is 26.6x. This places it at the 91th percentile of its historical range.
What is InterContinental Hotels Group PLC's EV/EBITDA?
InterContinental Hotels Group PLC's current EV/EBITDA is 21.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.9x.
Is IHG stock overvalued?
Based on historical data, InterContinental Hotels Group PLC is trading at a P/E of 35.1x. This is at the 91th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is InterContinental Hotels Group PLC's dividend yield?
InterContinental Hotels Group PLC's current dividend yield is 1.01% with a payout ratio of 35.6%.
What are InterContinental Hotels Group PLC's profit margins?
InterContinental Hotels Group PLC has 32.0% gross margin and 23.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does InterContinental Hotels Group PLC have?
InterContinental Hotels Group PLC's Debt/EBITDA ratio is 3.4x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.