CH
Choice Hotels International Inc
CHH—
Choice Hotels International Inc AI Insights
Informational only. Not investment advice.Snapshot
- Operating margin 29.3% TTM is 4x industry median (7.3%) - franchise-heavy model drives exceptional unit economics[Operating Margin TTM]
- Debt/equity 13.5x with tangible book value -1.2B - leveraged buyback strategy leaves minimal equity cushion[Debt to Equity]
- ROE 120% TTM vs industry median -0.3% - tiny equity base inflates returns but masks leverage risk[Return on Equity]
Watch Triggers
- Interest Expense TTM: Exceeds 100M or 25% of operating income — Signals debt service consuming margin advantage; refinancing at higher rates would compress earnings
- Operating Margin TTM: Falls below 25% — Would indicate franchise fee pressure or cost inflation eroding core competitive advantage
- Free Cash Flow TTM: Drops below 100M — Limits debt paydown capacity and dividend sustainability given leverage levels
Bull Case
Asset-light franchisor model generates 29% operating margins with 8% FCF yield (124M FCF on 4.4B market cap TTM) - rare capital efficiency in lodging
Operating Margin TTMFree Cash Flow TTMROE
P/E 14.8x TTM below industry median 23.2x despite 4x better margins - valuation discount ignores structural advantages
P/E RatioOperating Margin TTMNet Margin TTM
Bear Case
Total debt 2.0B on 150M equity (13.5x leverage) with 89M interest expense TTM consuming 23% of operating income - refinancing risk if rates stay elevated
Total DebtDebt to EquityInterest Expense TTM
Goodwill 304M is 203% of equity - any franchise impairment could eliminate remaining book value
GoodwillCommon Stockholders EquityTangible Book Value
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
55%
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Forward Thesis
Franchise fee growth will sustain 25%+ operating margins despite flat RevPAR environment
1-3ymed
- Asset-light model: 47% gross margin with minimal capex needs
- Recurring royalty streams from 7,500+ franchised properties
- Operating leverage: 4.5% revenue growth drove disproportionate margin
Operating margin 29.3% TTM vs 7.3% industry medianCapex -143M TTM (9% of revenue) mostly discretionaryNet margin 23.9% TTM vs industry median -0.5%
Valuation Context
Caveats
Public Strategies Rankings
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CHH Fundamentals
Accommodation and Food Services → Accommodation
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$5.02B | — | ||
$6.99B | — | ||
17 | — | ||
$1.6B | +2.8% | — | |
$6.43 | +9.3% | — | |
29.3% | +1.7% | — | |
23.9% | +7.7% | — | |
$124.39M | -7.1% | — | |
0.00 | — | ||
Beta 5Y (Monthly) | unknown | — |
CHH Dividend History
86 dividends
2026
$0.287501/02/26$0.2875
2025
$1.150010/01/25$0.2875
07/01/25$0.2875
04/01/25$0.2875
01/02/25$0.2875
2024
$0.862510/01/24$0.2875
07/01/24$0.2875
04/01/24$0.2875
2023
$1.150012/29/23$0.2875
09/29/23$0.2875
07/03/23$0.2875
03/31/23$0.2875
2022
$1.187512/30/22$0.2375
09/30/22$0.2375
06/30/22$0.2375
03/31/22$0.2375
01/03/22$0.2375
2021
$0.450009/30/21$0.2250
06/30/21$0.2250
2020
$0.225004/01/20$0.2250
2019
$0.870012/31/19$0.2250
10/01/19$0.2150
07/01/19$0.2150
04/01/19$0.2150
2018
$0.860012/31/18$0.2150
10/01/18$0.2150
06/29/18$0.2150
03/29/18$0.2150
2017
$0.860012/29/17$0.2150
09/29/17$0.2150
06/29/17$0.2150
03/30/17$0.2150
2016
$0.830012/30/16$0.2150
09/29/16$0.2050
06/29/16$0.2050
03/31/16$0.2050
2015
$0.790012/30/15$0.2050
09/30/15$0.1950
06/29/15$0.1950
03/31/15$0.1950
2014
$0.750012/30/14$0.1950
10/01/14$0.1850
06/27/14$0.1850
04/02/14$0.1850
2013
$0.740012/31/13$0.1850
10/08/13$0.1850
06/27/13$0.1850
03/28/13$0.1850
2012
$11.150012/14/12$0.1850
09/28/12$0.1850
08/24/12$10.4100
06/28/12$0.1850
03/29/12$0.1850
2011
$0.740012/30/11$0.1850
09/29/11$0.1850
06/29/11$0.1850
03/30/11$0.1850
2010
$0.740012/31/10$0.1850
09/29/10$0.1850
06/30/10$0.1850
03/31/10$0.1850
2009
$0.740012/30/09$0.1850
09/30/09$0.1850
06/30/09$0.1850
04/01/09$0.1850
2008
$0.880012/31/08$0.1850
10/01/08$0.1850
07/01/08$0.1700
04/02/08$0.1700
01/02/08$0.1700
2007
$0.620010/03/07$0.1700
07/03/07$0.1500
04/03/07$0.1500
01/03/07$0.1500
2006
$0.540010/04/06$0.1500
07/05/06$0.1300
04/05/06$0.1300
01/04/06$0.1300
2005
$0.467510/05/05$0.1300
07/06/05$0.1125
04/06/05$0.1125
01/05/05$0.1125
2004
$0.412510/06/04$0.1125
07/08/04$0.1000
04/07/04$0.1000
01/14/04$0.1000
CHH Stock Splits
1 stock split
10/24/050.5:1 split
CHH SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/05/25 | 09/30/25 | 10-Q | |
08/06/25 | 06/30/25 | 10-Q | |
05/08/25 | 03/31/25 | 10-Q | |
02/20/25 | 12/31/24 | Unknown | |
11/04/24 | 09/30/24 | 10-Q | |
08/08/24 | 06/30/24 | 10-Q | |
05/08/24 | 03/31/24 | 10-Q | |
02/20/24 | 12/31/23 | 10-K | |
11/07/23 | 09/30/23 | 10-Q | |
08/08/23 | 06/30/23 | 10-Q | |
05/09/23 | 03/31/23 | 10-Q | |
03/01/23 | 12/31/22 | 10-K | |
11/09/22 | 09/30/22 | 10-Q | |
08/04/22 | 06/30/22 | 10-Q | |
05/10/22 | 03/31/22 | 10-Q | |
02/24/22 | 12/31/21 | 10-K | |
11/04/21 | 09/30/21 | 10-Q | |
08/05/21 | 06/30/21 | 10-Q | |
05/10/21 | 03/31/21 | 10-Q | |
02/26/21 | 12/31/20 | 10-K | |
11/05/20 | 09/30/20 | 10-Q | |
08/06/20 | 06/30/20 | 10-Q | |
05/11/20 | 03/31/20 | 10-Q | |
03/02/20 | 12/31/19 | 10-K | |
11/05/19 | 09/30/19 | 10-Q | |
08/06/19 | 06/30/19 | 10-Q | |
05/09/19 | 03/31/19 | 10-Q | |
02/26/19 | 12/31/18 | 10-K | |
11/08/18 | 09/30/18 | 10-Q | |
08/08/18 | 06/30/18 | 10-Q | |
05/10/18 | 03/31/18 | 10-Q | |
03/01/18 | 12/31/17 | 10-K | |
11/09/17 | 09/30/17 | 10-Q | |
08/04/17 | 06/30/17 | 10-Q | |
05/05/17 | 03/31/17 | 10-Q | |
02/27/17 | 12/31/16 | 10-K | |
11/08/16 | 09/30/16 | 10-Q | |
08/04/16 | 06/30/16 | 10-Q | |
05/05/16 | 03/31/16 | 10-Q | |
02/29/16 | 12/31/15 | 10-K | |
11/06/15 | 09/30/15 | 10-Q | |
08/05/15 | 06/30/15 | 10-Q | |
05/07/15 | 03/31/15 | 10-Q | |
03/02/15 | 12/31/14 | 10-K | |
11/07/14 | 09/30/14 | 10-Q | |
08/11/14 | 06/30/14 | 10-Q | |
05/08/14 | 03/31/14 | 10-Q | |
03/03/14 | 12/31/13 | 10-K | |
11/12/13 | 09/30/13 | 10-Q | |
08/09/13 | 06/30/13 | 10-Q | |
05/08/13 | 03/31/13 | 10-Q | |
11/03/14 | 03/31/13 | 10-Q/A | |
02/28/13 | 12/31/12 | 10-K | |
11/07/12 | 09/30/12 | 10-Q | |
11/03/14 | 09/30/12 | 10-Q/A | |
08/09/12 | 06/30/12 | 10-Q | |
05/09/12 | 03/31/12 | 10-Q | |
02/29/12 | 12/31/11 | 10-K | |
11/03/14 | 12/31/11 | 10-K/A | |
11/09/11 | 09/30/11 | 10-Q | |
08/09/11 | 06/30/11 | 10-Q | |
05/09/11 | 03/31/11 | 10-Q | |
03/01/11 | 12/31/10 | 10-K | |
11/09/10 | 09/30/10 | 10-Q | |
08/09/10 | 06/30/10 | 10-Q | |
05/03/10 | 03/31/10 | 10-Q | |
03/01/10 | 12/31/09 | 10-K | |
11/06/09 | 09/30/09 | 10-Q | |
08/07/09 | 06/30/09 | 10-Q | |
05/07/09 | 03/31/09 | 10-Q | |
03/02/09 | 12/31/08 | 10-K | |
11/10/08 | 09/30/08 | 4 | |
08/07/08 | 06/30/08 | 10-Q | |
05/12/08 | 03/31/08 | 10-Q | |
02/29/08 | 12/31/07 | 4 | |
11/08/07 | 09/30/07 | 10-Q | |
08/09/07 | 06/30/07 | 10-Q | |
05/07/07 | 03/31/07 | 10-Q | |
03/01/07 | 12/31/06 | 5 | |
11/09/06 | 09/30/06 | 10-Q | |
08/09/06 | 06/30/06 | 10-Q | |
05/10/06 | 03/31/06 | 4 | |
03/16/06 | 12/31/05 | 5 | |
11/09/05 | 09/30/05 | 10-Q | |
08/09/05 | 06/30/05 | 10-Q | |
05/10/05 | 03/31/05 | 4 | |
03/16/05 | 12/31/04 | 5 | |
11/09/04 | 09/30/04 | 10-Q | |
08/06/04 | 06/30/04 | 10-Q | |
05/10/04 | 03/31/04 | 10-Q | |
03/15/04 | 12/31/03 | 5 | |
11/12/03 | 09/30/03 | 10-Q | |
08/14/03 | 06/30/03 | 10-Q | |
05/14/03 | 03/31/03 | 10-Q | |
03/31/03 | 12/31/02 | 10-K | |
10/30/02 | 09/30/02 | 10-Q | |
08/14/02 | 06/30/02 | 10-Q | |
05/03/02 | 03/31/02 | 10-Q | |
03/26/02 | 12/31/01 | 4 | |
11/13/01 | 09/30/01 | 10-Q | |
08/06/01 | 06/30/01 | 10-Q | |
05/11/01 | 03/31/01 | 10-Q | |
04/02/01 | 12/31/00 | 4 | |
11/14/00 | 09/30/00 | 10-Q | |
08/11/00 | 06/30/00 | 10-Q | |
05/15/00 | 03/31/00 | 10-Q |