Wyndham Hotels & Resorts, Inc. (WH) 10-Year Financial Performance & Capital Metrics

WH • • Industrial / General

Consumer CyclicalHotels & LodgingGlobal Hotel FranchisorsGlobal Economy & Mid-Scale Franchisors

AboutWyndham Hotels & Resorts, Inc. operates as a hotel franchisor worldwide. It operates through Hotel Franchising and Hotel Management segments. The Hotel Franchising segment licenses its lodging brands and provides related services to third-party hotel owners and others. The Hotel Management segment provides hotel management services for full-service and limited-service hotels. It is also involved in the reward loyalty program business. The company's hotel brand portfolios include Super 8, Days Inn, Travelodge, Microtel, Howard Johnson, La Quinta, Ramada, Baymont, AmericInn, Wingate, Wyndham Alltra, Wyndham Garden, Ramada Encore, Hawthorn, Registry Collection, Trademark Collection, TRYP, Dazzler, Esplendor, Wyndham Grand, Dolce, and Wyndham. As of August 9, 2022, it operated a portfolio of 22 hotel brands with approximately 9,000 hotels with approximately 8,19,000 rooms in approximately 95 countries. The company was incorporated in 2017 and is headquartered in Parsippany, New Jersey.Show more

Revenue $1.41B +0.8%
EBITDA $566M -2.2%
Net Income $289M
EPS (Diluted) 3.61 +6.2%
Gross Margin 100% +71.4%
EBITDA Margin 40.2% -3.0%
Operating Margin 35.16% -2.4%
Net Margin 20.53% -0.8%
ROE 41.4% +22.3%
ROIC 12.59% -3.8%
Debt/Equity 3.79 +28.4%
Interest Coverage 3.84 -17.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 36.6%
✓FCF machine: 17.1% free cash flow margin
✓Share count reduced 5.7% through buybacks
✓Healthy 5Y average net margin of 14.1%

✗Weaknesses

✗High debt to equity ratio of 3.8x
✗Sales declining 7.3% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-7.27%

3Y-3.46%

TTM3.61%

Profit (Net Income) CAGR

10Y-

5Y12.98%

3Y5.8%

TTM33.6%

EPS CAGR

10Y-

5Y17.24%

3Y11.56%

TTM37.66%

ROCE

10Y Avg12.03%

5Y Avg10.37%

3Y Avg14%

Latest13.5%

Peer Comparison

Global Economy & Mid-Scale Franchisors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
WHWyndham Hotels & Resorts, Inc.	6.08B	80.46	22.29	0.79%	23.54%	57.98%	3.96%	3.79
CHHChoice Hotels International, Inc.	5.05B	109.10	17.60	2.63%	23.93%	255.1%	3.44%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.3B	1.27B	1.35B	1.87B	2.05B	1.3B	1.56B	1.5B	1.4B	1.41B
Revenue Growth %	-	-0.02%	0.06%	0.39%	0.1%	-0.37%	0.2%	-0.04%	-0.07%	0.01%
Cost of Goods Sold+	690M	647M	670M	1.07B	1.19B	769M	770M	668M	582M	0
COGS % of Revenue	0.53%	0.51%	0.5%	0.57%	0.58%	0.59%	0.49%	0.45%	0.42%	-
Gross Profit+	611M	622M	677M	796M	867M	531M	795M	830M	815M	1.41B
Gross Margin %	0.47%	0.49%	0.5%	0.43%	0.42%	0.41%	0.51%	0.55%	0.58%	1%
Gross Profit Growth %	-	0.02%	0.09%	0.18%	0.09%	-0.39%	0.5%	0.04%	-0.02%	0.73%
Operating Expenses+	348M	324M	368M	400M	560M	577M	349M	272M	312M	913M
OpEx % of Revenue	0.27%	0.26%	0.27%	0.21%	0.27%	0.44%	0.22%	0.18%	0.22%	0.65%
Selling, General & Admin	90M	459M	461M	605M	693M	535M	563M	647M	699M	694M
SG&A % of Revenue	0.07%	0.36%	0.34%	0.32%	0.34%	0.41%	0.36%	0.43%	0.5%	0.49%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	258M	241M	280M	281M	-133M	42M	-214M	-375M	-387M	219M
Operating Income+	250M	295M	261M	336M	307M	-46M	446M	558M	503M	495M
Operating Margin %	0.19%	0.23%	0.19%	0.18%	0.15%	-0.04%	0.28%	0.37%	0.36%	0.35%
Operating Income Growth %	-	0.18%	-0.12%	0.29%	-0.09%	-1.15%	10.7%	0.25%	-0.1%	-0.02%
EBITDA+	317M	1.32B	1.25B	1.81B	416M	52M	541M	635M	579M	566M
EBITDA Margin %	0.24%	1.04%	0.93%	0.97%	0.2%	0.04%	0.35%	0.42%	0.41%	0.4%
EBITDA Growth %	-	3.15%	-0.05%	0.45%	-0.77%	-0.88%	9.4%	0.17%	-0.09%	-0.02%
D&A (Non-Cash Add-back)	67M	1.02B	989M	1.48B	109M	98M	95M	77M	76M	71M
EBIT	250M	295M	249M	283M	311M	-44M	429M	561M	506M	497M
Net Interest Income+	-1M	-1M	-6M	-60M	-100M	-112M	-93M	-80M	-102M	-124M
Interest Income	0	0	0	0	4M	2M	1M	5M	6M	5M
Interest Expense	1M	1M	6M	60M	104M	114M	94M	85M	108M	129M
Other Income/Expense	-1M	-1M	-6M	-60M	-100M	-112M	-111M	-82M	-105M	-127M
Pretax Income+	249M	294M	255M	223M	207M	-158M	335M	476M	398M	368M
Pretax Margin %	0.19%	0.23%	0.19%	0.12%	0.1%	-0.12%	0.21%	0.32%	0.28%	0.26%
Income Tax+	100M	118M	12M	61M	50M	-26M	91M	121M	109M	79M
Effective Tax Rate %	0.6%	0.6%	0.95%	0.73%	0.76%	0.84%	0.73%	0.75%	0.73%	0.79%
Net Income+	149M	176M	243M	162M	157M	-132M	244M	355M	289M	289M
Net Margin %	0.11%	0.14%	0.18%	0.09%	0.08%	-0.1%	0.16%	0.24%	0.21%	0.21%
Net Income Growth %	-	0.18%	0.38%	-0.33%	-0.03%	-1.84%	2.85%	0.45%	-0.19%	0%
Net Income (Continuing)	149M	176M	230M	162M	157M	-132M	244M	355M	289M	289M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	146M	127M	1.77B	0	0	0	0	0	0
EPS (Diluted)+	1.49	1.76	2.31	1.62	1.63	-1.41	2.60	3.91	3.40	3.61
EPS Growth %	-	0.18%	0.31%	-0.3%	0.01%	-1.87%	2.84%	0.5%	-0.13%	0.06%
EPS (Basic)	1.49	1.76	2.31	1.63	1.63	-1.41	2.61	3.93	3.42	3.64
Diluted Shares Outstanding	99.9M	99.9M	99.78M	99.8M	96.6M	93.4M	93.9M	90.8M	84.9M	80.1M
Basic Shares Outstanding	99.9M	99.5M	99.78M	99.5M	96.5M	93.4M	93.4M	90.3M	84.4M	79.5M
Dividend Payout Ratio	-	-	-	1.15%	0.71%	-	0.34%	0.33%	0.41%	0.42%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	271M	255M	330M	851M	499M	900M	720M	545M	373M	467M
Cash & Short-Term Investments	38M	28M	57M	366M	94M	493M	171M	161M	66M	103M
Cash Only	38M	28M	57M	366M	94M	493M	171M	161M	66M	103M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	185M	184M	194M	293M	304M	295M	246M	234M	241M	271M
Days Sales Outstanding	51.9	52.92	52.57	57.25	54.05	82.83	57.37	57.02	62.97	70.25
Inventory	-44M	24M	29M	40M	0	0	0	0	0	0
Days Inventory Outstanding	-	13.54	15.8	13.62	-	-	-	-	-	-
Other Current Assets	22M	19M	54M	152M	53M	67M	252M	91M	39M	49M
Total Non-Current Assets+	1.69B	1.73B	1.79B	4.13B	4.03B	3.74B	3.55B	3.58B	3.66B	3.76B
Property, Plant & Equipment	293M	277M	250M	326M	307M	278M	106M	99M	88M	94M
Fixed Asset Turnover	4.44x	4.58x	5.39x	5.73x	6.69x	4.68x	14.76x	15.13x	15.88x	14.98x
Goodwill	329M	377M	423M	1.55B	1.54B	1.52B	1.52B	1.52B	1.52B	1.52B
Intangible Assets	1.2B	882M	943M	1.99B	1.95B	1.72B	1.68B	1.61B	1.58B	318M
Long-Term Investments	-333M	-1.98B	-2.14B	-399M	0	0	0	0	0	18M
Other Non-Current Assets	195M	192M	176M	265M	242M	226M	243M	348M	468M	1.8B
Total Assets+	1.96B	1.98B	2.12B	4.98B	4.53B	4.64B	4.27B	4.12B	4.03B	4.22B
Asset Turnover	0.66x	0.64x	0.63x	0.38x	0.45x	0.28x	0.37x	0.36x	0.35x	0.33x
Asset Growth %	-	0.01%	0.07%	1.34%	-0.09%	0.02%	-0.08%	-0.03%	-0.02%	0.05%
Total Current Liabilities+	377M	372M	406M	693M	462M	346M	397M	406M	459M	466M
Accounts Payable	24M	27M	38M	61M	30M	28M	31M	39M	32M	37M
Days Payables Outstanding	12.7	15.23	20.7	20.77	9.23	13.29	14.69	21.31	20.07	-
Short-Term Debt	95M	103M	103M	21M	21M	21M	21M	20M	37M	43M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	120M	115M	125M	28M	36M	14M	32M	15M	18M	18M
Current Ratio	0.72x	0.69x	0.81x	1.23x	1.08x	2.60x	1.81x	1.34x	0.81x	1.00x
Quick Ratio	0.84x	0.62x	0.74x	1.17x	1.08x	2.60x	1.81x	1.34x	0.81x	1.00x
Cash Conversion Cycle	-	51.23	47.67	50.1	-	-	-	-	-	-
Total Non-Current Liabilities+	685M	500M	416M	2.87B	2.86B	3.33B	2.78B	2.75B	2.83B	3.11B
Long-Term Debt	0	71M	81M	2.12B	2.1B	2.58B	2.06B	2.06B	2.16B	2.42B
Capital Lease Obligations	0	0	0	65M	0	0	0	0	0	6M
Deferred Tax Liabilities	246M	273M	181M	399M	387M	359M	366M	345M	325M	332M
Other Non-Current Liabilities	16M	75M	335M	117M	220M	242M	189M	189M	172M	186M
Total Liabilities	780M	872M	822M	3.56B	3.32B	3.68B	3.18B	3.16B	3.29B	3.57B
Total Debt+	95M	174M	184M	2.14B	2.13B	2.6B	2.09B	2.08B	2.21B	2.47B
Net Debt	57M	146M	127M	1.77B	2.03B	2.11B	1.92B	1.92B	2.14B	2.36B
Debt / Equity	0.08x	0.14x	0.13x	0.67x	1.75x	2.70x	1.92x	2.16x	2.96x	3.79x
Debt / EBITDA	0.30x	0.13x	0.15x	1.18x	5.11x	50.02x	3.86x	3.28x	3.81x	4.36x
Net Debt / EBITDA	0.18x	0.11x	0.10x	0.98x	4.89x	40.54x	3.54x	3.02x	3.69x	4.17x
Interest Coverage	250.00x	295.00x	43.50x	5.60x	2.95x	-0.40x	4.74x	6.56x	4.66x	3.84x
Total Equity+	1.18B	1.26B	1.43B	3.19B	1.21B	963M	1.09B	962M	746M	650M
Equity Growth %	-	0.07%	0.14%	1.24%	-0.62%	-0.21%	0.13%	-0.12%	-0.22%	-0.13%
Book Value per Share	11.80	12.58	14.30	31.99	12.55	10.31	11.60	10.59	8.79	8.11
Total Shareholders' Equity	1.18B	1.11B	1.3B	1.42B	1.21B	963M	1.09B	962M	746M	650M
Common Stock	1.18B	1.11B	1.29B	1M	1M	1M	1M	1M	1M	1M
Retained Earnings	0	1.11B	1.26B	69M	113M	-82M	79M	318M	488M	654M
Treasury Stock	0	0	0	-119M	-363M	-408M	-519M	-964M	-1.36B	-1.67B
Accumulated OCI	1M	1.11B	5M	-8M	-27M	-52M	-15M	38M	19M	17M
Minority Interest	0	146M	127M	1.77B	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	287M	264M	279M	231M	100M	67M	426M	399M	376M	290M
Operating CF Margin %	0.22%	0.21%	0.21%	0.12%	0.05%	0.05%	0.27%	0.27%	0.27%	0.21%
Operating CF Growth %	-	-0.08%	0.06%	-0.17%	-0.57%	-0.33%	5.36%	-0.06%	-0.06%	-0.23%
Net Income	149M	176M	243M	162M	157M	-132M	244M	355M	289M	289M
Depreciation & Amortization	67M	73M	75M	99M	109M	98M	95M	77M	76M	71M
Stock-Based Compensation	7M	0	41M	0	20M	21M	28M	33M	39M	0
Deferred Taxes	10M	26M	-92M	0	-14M	-23M	-1M	-39M	-17M	4M
Other Non-Cash Items	10M	2M	6M	-62M	-165M	241M	34M	-79M	6M	64M
Working Capital Changes	44M	-13M	6M	7M	-7M	-138M	26M	52M	-17M	-138M
Change in Receivables	-17M	0	-10M	-55M	-11M	-38M	25M	16M	-10M	-39M
Change in Inventory	3M	0	-3M	0	-1M	0	0	0	0	0
Change in Payables	26M	-13M	21M	85M	-28M	-46M	39M	14M	-4M	-33M
Cash from Investing+	-104M	-114M	-198M	-1.73B	-53M	-31M	-34M	179M	-66M	-65M
Capital Expenditures	-51M	-42M	-46M	-73M	-50M	-33M	-37M	-39M	-37M	-49M
CapEx % of Revenue	0.04%	0.03%	0.03%	0.04%	0.02%	0.03%	0.02%	0.03%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-53M	-2M	-152M	48M	-3M	2M	3M	262M	-29M	-16M
Cash from Financing+	-170M	-161M	-51M	1.81B	-320M	363M	-713M	-584M	-402M	-175M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	-112M	-53M	-82M	-116M	-118M	-122M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2M	-238M	-60M	-70M	60M	-13M	10M	-15M	-19M	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	236M	222M	233M	158M	50M	34M	389M	360M	339M	241M
FCF Margin %	0.18%	0.17%	0.17%	0.08%	0.02%	0.03%	0.25%	0.24%	0.24%	0.17%
FCF Growth %	-	-0.06%	0.05%	-0.32%	-0.68%	-0.32%	10.44%	-0.07%	-0.06%	-0.29%
FCF per Share	2.36	2.22	2.34	1.58	0.52	0.36	4.14	3.96	3.99	3.01
FCF Conversion (FCF/Net Income)	1.93x	1.50x	1.15x	1.43x	0.64x	-0.51x	1.75x	1.12x	1.30x	1.00x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	12.64%	14.45%	18.11%	7.01%	7.13%	-12.14%	23.78%	34.62%	33.84%	41.4%
Return on Invested Capital (ROIC)	15.17%	16.77%	13.24%	7.73%	5.61%	-1.09%	11.01%	14.22%	13.08%	12.59%
Gross Margin	46.96%	49.02%	50.26%	42.61%	42.23%	40.85%	50.8%	55.41%	58.34%	100%
Net Margin	11.45%	13.87%	18.04%	8.67%	7.65%	-10.15%	15.59%	23.7%	20.69%	20.53%
Debt / Equity	0.08x	0.14x	0.13x	0.67x	1.75x	2.70x	1.92x	2.16x	2.96x	3.79x
Interest Coverage	250.00x	295.00x	43.50x	5.60x	2.95x	-0.40x	4.74x	6.56x	4.66x	3.84x
FCF Conversion	1.93x	1.50x	1.15x	1.43x	0.64x	-0.51x	1.75x	1.12x	1.30x	1.00x
Revenue Growth	-	-2.46%	6.15%	38.68%	9.9%	-36.68%	20.38%	-4.28%	-6.74%	0.79%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Marketing, Reservation and Loyalty	491M	-	-	-	-	578M	563M
Marketing, Reservation and Loyalty Growth	-	-	-	-	-	-	-2.60%
Royalties and Franchise Fees	441M	-	-	-	-	532M	555M
Royalties and Franchise Fees Growth	-	-	-	-	-	-	4.32%
Marketing and reservation fees	-	-	-	-	-	-	467M
Marketing and reservation fees Growth	-	-	-	-	-	-	-
Other Products and Services	15M	16M	17M	14M	19M	148M	157M
Other Products and Services Growth	-	6.67%	6.25%	-17.65%	35.71%	678.95%	6.08%
License and Other Fee From Former Parent	-	-	-	-	-	112M	119M
License and Other Fee From Former Parent Growth	-	-	-	-	-	-	6.25%
Loyalty Program	46M	53M	75M	76M	85M	-	97M
Loyalty Program Growth	-	15.22%	41.51%	1.33%	11.84%	-	-
Hotel Management Services	-	125M	1M	117M	57M	14M	-
Hotel Management Services Growth	-	-	-99.20%	11600.00%	-51.28%	-75.44%	-
Initial Franchise Fees	18M	29M	136M	145M	143M	-	-
Initial Franchise Fees Growth	-	61.11%	368.97%	6.62%	-1.38%	-	-
Franchise	20M	18M	20M	14M	15M	-	-
Franchise Growth	-	-10.00%	11.11%	-30.00%	7.14%	-	-
Forgiveness Of Note Receivable	7M	8M	9M	-11M	-12M	-	-
Forgiveness Of Note Receivable Growth	-	14.29%	12.50%	-222.22%	-9.09%	-	-
Co-branded credit cards program	30M	34M	-	-	-	-	-
Co-branded credit cards program Growth	-	13.33%	-	-	-	-	-
Cost Reimbursements	586M	-	-	-	-	-	-
Cost Reimbursements Growth	-	-	-	-	-	-	-
License and Other Fee From Parent	111M	-	-	-	-	-	-
License and Other Fee From Parent Growth	-	-	-	-	-	-	-

Revenue by Geography

	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	1.64B	1.8B	1.16B	1.37B	1.27B	1.14B	1.13B
UNITED STATES Growth	-	9.99%	-35.79%	17.86%	-6.95%	-10.15%	-1.49%
Non-US	227M	248M	141M	199M	227M	255M	283M
Non-US Growth	-	9.25%	-43.15%	41.13%	14.07%	12.33%	10.98%

Frequently Asked Questions

Valuation & Price

Wyndham Hotels & Resorts, Inc. (WH) has a price-to-earnings (P/E) ratio of 22.3x. This is roughly in line with market averages.

Growth & Financials

Wyndham Hotels & Resorts, Inc. (WH) reported $1.44B in revenue for fiscal year 2024. This represents a 10% increase from $1.30B in 2015.

Wyndham Hotels & Resorts, Inc. (WH) grew revenue by 0.8% over the past year. Growth has been modest.

Yes, Wyndham Hotels & Resorts, Inc. (WH) is profitable, generating $338.0M in net income for fiscal year 2024 (20.5% net margin).

Dividend & Returns

Yes, Wyndham Hotels & Resorts, Inc. (WH) pays a dividend with a yield of 1.89%. This makes it attractive for income-focused investors.

Wyndham Hotels & Resorts, Inc. (WH) has a return on equity (ROE) of 41.4%. This is excellent, indicating efficient use of shareholder capital.

Wyndham Hotels & Resorts, Inc. (WH) generated $294.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Wyndham Hotels & Resorts, Inc. (WH) 10-Year Financial Performance & Capital Metrics

WH • • Industrial / General

Consumer CyclicalHotels & LodgingGlobal Hotel FranchisorsGlobal Economy & Mid-Scale Franchisors

Revenue $1.41B +0.8%
EBITDA $566M -2.2%
Net Income $289M
EPS (Diluted) 3.61 +6.2%
Gross Margin 100% +71.4%
EBITDA Margin 40.2% -3.0%
Operating Margin 35.16% -2.4%
Net Margin 20.53% -0.8%
ROE 41.4% +22.3%
ROIC 12.59% -3.8%
Debt/Equity 3.79 +28.4%
Interest Coverage 3.84 -17.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 36.6%
✓FCF machine: 17.1% free cash flow margin
✓Share count reduced 5.7% through buybacks
✓Healthy 5Y average net margin of 14.1%

✗Weaknesses

✗High debt to equity ratio of 3.8x
✗Sales declining 7.3% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-7.27%

3Y-3.46%

TTM3.61%

Profit (Net Income) CAGR

10Y-

5Y12.98%

3Y5.8%

TTM33.6%

EPS CAGR

10Y-

5Y17.24%

3Y11.56%

TTM37.66%

ROCE

10Y Avg12.03%

5Y Avg10.37%

3Y Avg14%

Latest13.5%

Peer Comparison

Global Economy & Mid-Scale Franchisors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
WHWyndham Hotels & Resorts, Inc.	6.08B	80.46	22.29	0.79%	23.54%	57.98%	3.96%	3.79
CHHChoice Hotels International, Inc.	5.05B	109.10	17.60	2.63%	23.93%	255.1%	3.44%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.3B	1.27B	1.35B	1.87B	2.05B	1.3B	1.56B	1.5B	1.4B	1.41B
Revenue Growth %	-	-0.02%	0.06%	0.39%	0.1%	-0.37%	0.2%	-0.04%	-0.07%	0.01%
Cost of Goods Sold+	690M	647M	670M	1.07B	1.19B	769M	770M	668M	582M	0
COGS % of Revenue	0.53%	0.51%	0.5%	0.57%	0.58%	0.59%	0.49%	0.45%	0.42%	-
Gross Profit+	611M	622M	677M	796M	867M	531M	795M	830M	815M	1.41B
Gross Margin %	0.47%	0.49%	0.5%	0.43%	0.42%	0.41%	0.51%	0.55%	0.58%	1%
Gross Profit Growth %	-	0.02%	0.09%	0.18%	0.09%	-0.39%	0.5%	0.04%	-0.02%	0.73%
Operating Expenses+	348M	324M	368M	400M	560M	577M	349M	272M	312M	913M
OpEx % of Revenue	0.27%	0.26%	0.27%	0.21%	0.27%	0.44%	0.22%	0.18%	0.22%	0.65%
Selling, General & Admin	90M	459M	461M	605M	693M	535M	563M	647M	699M	694M
SG&A % of Revenue	0.07%	0.36%	0.34%	0.32%	0.34%	0.41%	0.36%	0.43%	0.5%	0.49%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	258M	241M	280M	281M	-133M	42M	-214M	-375M	-387M	219M
Operating Income+	250M	295M	261M	336M	307M	-46M	446M	558M	503M	495M
Operating Margin %	0.19%	0.23%	0.19%	0.18%	0.15%	-0.04%	0.28%	0.37%	0.36%	0.35%
Operating Income Growth %	-	0.18%	-0.12%	0.29%	-0.09%	-1.15%	10.7%	0.25%	-0.1%	-0.02%
EBITDA+	317M	1.32B	1.25B	1.81B	416M	52M	541M	635M	579M	566M
EBITDA Margin %	0.24%	1.04%	0.93%	0.97%	0.2%	0.04%	0.35%	0.42%	0.41%	0.4%
EBITDA Growth %	-	3.15%	-0.05%	0.45%	-0.77%	-0.88%	9.4%	0.17%	-0.09%	-0.02%
D&A (Non-Cash Add-back)	67M	1.02B	989M	1.48B	109M	98M	95M	77M	76M	71M
EBIT	250M	295M	249M	283M	311M	-44M	429M	561M	506M	497M
Net Interest Income+	-1M	-1M	-6M	-60M	-100M	-112M	-93M	-80M	-102M	-124M
Interest Income	0	0	0	0	4M	2M	1M	5M	6M	5M
Interest Expense	1M	1M	6M	60M	104M	114M	94M	85M	108M	129M
Other Income/Expense	-1M	-1M	-6M	-60M	-100M	-112M	-111M	-82M	-105M	-127M
Pretax Income+	249M	294M	255M	223M	207M	-158M	335M	476M	398M	368M
Pretax Margin %	0.19%	0.23%	0.19%	0.12%	0.1%	-0.12%	0.21%	0.32%	0.28%	0.26%
Income Tax+	100M	118M	12M	61M	50M	-26M	91M	121M	109M	79M
Effective Tax Rate %	0.6%	0.6%	0.95%	0.73%	0.76%	0.84%	0.73%	0.75%	0.73%	0.79%
Net Income+	149M	176M	243M	162M	157M	-132M	244M	355M	289M	289M
Net Margin %	0.11%	0.14%	0.18%	0.09%	0.08%	-0.1%	0.16%	0.24%	0.21%	0.21%
Net Income Growth %	-	0.18%	0.38%	-0.33%	-0.03%	-1.84%	2.85%	0.45%	-0.19%	0%
Net Income (Continuing)	149M	176M	230M	162M	157M	-132M	244M	355M	289M	289M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	146M	127M	1.77B	0	0	0	0	0	0
EPS (Diluted)+	1.49	1.76	2.31	1.62	1.63	-1.41	2.60	3.91	3.40	3.61
EPS Growth %	-	0.18%	0.31%	-0.3%	0.01%	-1.87%	2.84%	0.5%	-0.13%	0.06%
EPS (Basic)	1.49	1.76	2.31	1.63	1.63	-1.41	2.61	3.93	3.42	3.64
Diluted Shares Outstanding	99.9M	99.9M	99.78M	99.8M	96.6M	93.4M	93.9M	90.8M	84.9M	80.1M
Basic Shares Outstanding	99.9M	99.5M	99.78M	99.5M	96.5M	93.4M	93.4M	90.3M	84.4M	79.5M
Dividend Payout Ratio	-	-	-	1.15%	0.71%	-	0.34%	0.33%	0.41%	0.42%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	271M	255M	330M	851M	499M	900M	720M	545M	373M	467M
Cash & Short-Term Investments	38M	28M	57M	366M	94M	493M	171M	161M	66M	103M
Cash Only	38M	28M	57M	366M	94M	493M	171M	161M	66M	103M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	185M	184M	194M	293M	304M	295M	246M	234M	241M	271M
Days Sales Outstanding	51.9	52.92	52.57	57.25	54.05	82.83	57.37	57.02	62.97	70.25
Inventory	-44M	24M	29M	40M	0	0	0	0	0	0
Days Inventory Outstanding	-	13.54	15.8	13.62	-	-	-	-	-	-
Other Current Assets	22M	19M	54M	152M	53M	67M	252M	91M	39M	49M
Total Non-Current Assets+	1.69B	1.73B	1.79B	4.13B	4.03B	3.74B	3.55B	3.58B	3.66B	3.76B
Property, Plant & Equipment	293M	277M	250M	326M	307M	278M	106M	99M	88M	94M
Fixed Asset Turnover	4.44x	4.58x	5.39x	5.73x	6.69x	4.68x	14.76x	15.13x	15.88x	14.98x
Goodwill	329M	377M	423M	1.55B	1.54B	1.52B	1.52B	1.52B	1.52B	1.52B
Intangible Assets	1.2B	882M	943M	1.99B	1.95B	1.72B	1.68B	1.61B	1.58B	318M
Long-Term Investments	-333M	-1.98B	-2.14B	-399M	0	0	0	0	0	18M
Other Non-Current Assets	195M	192M	176M	265M	242M	226M	243M	348M	468M	1.8B
Total Assets+	1.96B	1.98B	2.12B	4.98B	4.53B	4.64B	4.27B	4.12B	4.03B	4.22B
Asset Turnover	0.66x	0.64x	0.63x	0.38x	0.45x	0.28x	0.37x	0.36x	0.35x	0.33x
Asset Growth %	-	0.01%	0.07%	1.34%	-0.09%	0.02%	-0.08%	-0.03%	-0.02%	0.05%
Total Current Liabilities+	377M	372M	406M	693M	462M	346M	397M	406M	459M	466M
Accounts Payable	24M	27M	38M	61M	30M	28M	31M	39M	32M	37M
Days Payables Outstanding	12.7	15.23	20.7	20.77	9.23	13.29	14.69	21.31	20.07	-
Short-Term Debt	95M	103M	103M	21M	21M	21M	21M	20M	37M	43M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	120M	115M	125M	28M	36M	14M	32M	15M	18M	18M
Current Ratio	0.72x	0.69x	0.81x	1.23x	1.08x	2.60x	1.81x	1.34x	0.81x	1.00x
Quick Ratio	0.84x	0.62x	0.74x	1.17x	1.08x	2.60x	1.81x	1.34x	0.81x	1.00x
Cash Conversion Cycle	-	51.23	47.67	50.1	-	-	-	-	-	-
Total Non-Current Liabilities+	685M	500M	416M	2.87B	2.86B	3.33B	2.78B	2.75B	2.83B	3.11B
Long-Term Debt	0	71M	81M	2.12B	2.1B	2.58B	2.06B	2.06B	2.16B	2.42B
Capital Lease Obligations	0	0	0	65M	0	0	0	0	0	6M
Deferred Tax Liabilities	246M	273M	181M	399M	387M	359M	366M	345M	325M	332M
Other Non-Current Liabilities	16M	75M	335M	117M	220M	242M	189M	189M	172M	186M
Total Liabilities	780M	872M	822M	3.56B	3.32B	3.68B	3.18B	3.16B	3.29B	3.57B
Total Debt+	95M	174M	184M	2.14B	2.13B	2.6B	2.09B	2.08B	2.21B	2.47B
Net Debt	57M	146M	127M	1.77B	2.03B	2.11B	1.92B	1.92B	2.14B	2.36B
Debt / Equity	0.08x	0.14x	0.13x	0.67x	1.75x	2.70x	1.92x	2.16x	2.96x	3.79x
Debt / EBITDA	0.30x	0.13x	0.15x	1.18x	5.11x	50.02x	3.86x	3.28x	3.81x	4.36x
Net Debt / EBITDA	0.18x	0.11x	0.10x	0.98x	4.89x	40.54x	3.54x	3.02x	3.69x	4.17x
Interest Coverage	250.00x	295.00x	43.50x	5.60x	2.95x	-0.40x	4.74x	6.56x	4.66x	3.84x
Total Equity+	1.18B	1.26B	1.43B	3.19B	1.21B	963M	1.09B	962M	746M	650M
Equity Growth %	-	0.07%	0.14%	1.24%	-0.62%	-0.21%	0.13%	-0.12%	-0.22%	-0.13%
Book Value per Share	11.80	12.58	14.30	31.99	12.55	10.31	11.60	10.59	8.79	8.11
Total Shareholders' Equity	1.18B	1.11B	1.3B	1.42B	1.21B	963M	1.09B	962M	746M	650M
Common Stock	1.18B	1.11B	1.29B	1M	1M	1M	1M	1M	1M	1M
Retained Earnings	0	1.11B	1.26B	69M	113M	-82M	79M	318M	488M	654M
Treasury Stock	0	0	0	-119M	-363M	-408M	-519M	-964M	-1.36B	-1.67B
Accumulated OCI	1M	1.11B	5M	-8M	-27M	-52M	-15M	38M	19M	17M
Minority Interest	0	146M	127M	1.77B	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	287M	264M	279M	231M	100M	67M	426M	399M	376M	290M
Operating CF Margin %	0.22%	0.21%	0.21%	0.12%	0.05%	0.05%	0.27%	0.27%	0.27%	0.21%
Operating CF Growth %	-	-0.08%	0.06%	-0.17%	-0.57%	-0.33%	5.36%	-0.06%	-0.06%	-0.23%
Net Income	149M	176M	243M	162M	157M	-132M	244M	355M	289M	289M
Depreciation & Amortization	67M	73M	75M	99M	109M	98M	95M	77M	76M	71M
Stock-Based Compensation	7M	0	41M	0	20M	21M	28M	33M	39M	0
Deferred Taxes	10M	26M	-92M	0	-14M	-23M	-1M	-39M	-17M	4M
Other Non-Cash Items	10M	2M	6M	-62M	-165M	241M	34M	-79M	6M	64M
Working Capital Changes	44M	-13M	6M	7M	-7M	-138M	26M	52M	-17M	-138M
Change in Receivables	-17M	0	-10M	-55M	-11M	-38M	25M	16M	-10M	-39M
Change in Inventory	3M	0	-3M	0	-1M	0	0	0	0	0
Change in Payables	26M	-13M	21M	85M	-28M	-46M	39M	14M	-4M	-33M
Cash from Investing+	-104M	-114M	-198M	-1.73B	-53M	-31M	-34M	179M	-66M	-65M
Capital Expenditures	-51M	-42M	-46M	-73M	-50M	-33M	-37M	-39M	-37M	-49M
CapEx % of Revenue	0.04%	0.03%	0.03%	0.04%	0.02%	0.03%	0.02%	0.03%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-53M	-2M	-152M	48M	-3M	2M	3M	262M	-29M	-16M
Cash from Financing+	-170M	-161M	-51M	1.81B	-320M	363M	-713M	-584M	-402M	-175M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	-112M	-53M	-82M	-116M	-118M	-122M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-2M	-238M	-60M	-70M	60M	-13M	10M	-15M	-19M	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	236M	222M	233M	158M	50M	34M	389M	360M	339M	241M
FCF Margin %	0.18%	0.17%	0.17%	0.08%	0.02%	0.03%	0.25%	0.24%	0.24%	0.17%
FCF Growth %	-	-0.06%	0.05%	-0.32%	-0.68%	-0.32%	10.44%	-0.07%	-0.06%	-0.29%
FCF per Share	2.36	2.22	2.34	1.58	0.52	0.36	4.14	3.96	3.99	3.01
FCF Conversion (FCF/Net Income)	1.93x	1.50x	1.15x	1.43x	0.64x	-0.51x	1.75x	1.12x	1.30x	1.00x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	12.64%	14.45%	18.11%	7.01%	7.13%	-12.14%	23.78%	34.62%	33.84%	41.4%
Return on Invested Capital (ROIC)	15.17%	16.77%	13.24%	7.73%	5.61%	-1.09%	11.01%	14.22%	13.08%	12.59%
Gross Margin	46.96%	49.02%	50.26%	42.61%	42.23%	40.85%	50.8%	55.41%	58.34%	100%
Net Margin	11.45%	13.87%	18.04%	8.67%	7.65%	-10.15%	15.59%	23.7%	20.69%	20.53%
Debt / Equity	0.08x	0.14x	0.13x	0.67x	1.75x	2.70x	1.92x	2.16x	2.96x	3.79x
Interest Coverage	250.00x	295.00x	43.50x	5.60x	2.95x	-0.40x	4.74x	6.56x	4.66x	3.84x
FCF Conversion	1.93x	1.50x	1.15x	1.43x	0.64x	-0.51x	1.75x	1.12x	1.30x	1.00x
Revenue Growth	-	-2.46%	6.15%	38.68%	9.9%	-36.68%	20.38%	-4.28%	-6.74%	0.79%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Marketing, Reservation and Loyalty	491M	-	-	-	-	578M	563M
Marketing, Reservation and Loyalty Growth	-	-	-	-	-	-	-2.60%
Royalties and Franchise Fees	441M	-	-	-	-	532M	555M
Royalties and Franchise Fees Growth	-	-	-	-	-	-	4.32%
Marketing and reservation fees	-	-	-	-	-	-	467M
Marketing and reservation fees Growth	-	-	-	-	-	-	-
Other Products and Services	15M	16M	17M	14M	19M	148M	157M
Other Products and Services Growth	-	6.67%	6.25%	-17.65%	35.71%	678.95%	6.08%
License and Other Fee From Former Parent	-	-	-	-	-	112M	119M
License and Other Fee From Former Parent Growth	-	-	-	-	-	-	6.25%
Loyalty Program	46M	53M	75M	76M	85M	-	97M
Loyalty Program Growth	-	15.22%	41.51%	1.33%	11.84%	-	-
Hotel Management Services	-	125M	1M	117M	57M	14M	-
Hotel Management Services Growth	-	-	-99.20%	11600.00%	-51.28%	-75.44%	-
Initial Franchise Fees	18M	29M	136M	145M	143M	-	-
Initial Franchise Fees Growth	-	61.11%	368.97%	6.62%	-1.38%	-	-
Franchise	20M	18M	20M	14M	15M	-	-
Franchise Growth	-	-10.00%	11.11%	-30.00%	7.14%	-	-
Forgiveness Of Note Receivable	7M	8M	9M	-11M	-12M	-	-
Forgiveness Of Note Receivable Growth	-	14.29%	12.50%	-222.22%	-9.09%	-	-
Co-branded credit cards program	30M	34M	-	-	-	-	-
Co-branded credit cards program Growth	-	13.33%	-	-	-	-	-
Cost Reimbursements	586M	-	-	-	-	-	-
Cost Reimbursements Growth	-	-	-	-	-	-	-
License and Other Fee From Parent	111M	-	-	-	-	-	-
License and Other Fee From Parent Growth	-	-	-	-	-	-	-

Revenue by Geography

	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	1.64B	1.8B	1.16B	1.37B	1.27B	1.14B	1.13B
UNITED STATES Growth	-	9.99%	-35.79%	17.86%	-6.95%	-10.15%	-1.49%
Non-US	227M	248M	141M	199M	227M	255M	283M
Non-US Growth	-	9.25%	-43.15%	41.13%	14.07%	12.33%	10.98%

Frequently Asked Questions

Valuation & Price

Wyndham Hotels & Resorts, Inc. (WH) has a price-to-earnings (P/E) ratio of 22.3x. This is roughly in line with market averages.

Growth & Financials

Wyndham Hotels & Resorts, Inc. (WH) reported $1.44B in revenue for fiscal year 2024. This represents a 10% increase from $1.30B in 2015.

Wyndham Hotels & Resorts, Inc. (WH) grew revenue by 0.8% over the past year. Growth has been modest.

Yes, Wyndham Hotels & Resorts, Inc. (WH) is profitable, generating $338.0M in net income for fiscal year 2024 (20.5% net margin).

Dividend & Returns

Yes, Wyndham Hotels & Resorts, Inc. (WH) pays a dividend with a yield of 1.89%. This makes it attractive for income-focused investors.

Wyndham Hotels & Resorts, Inc. (WH) has a return on equity (ROE) of 41.4%. This is excellent, indicating efficient use of shareholder capital.

Wyndham Hotels & Resorts, Inc. (WH) generated $294.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.