Choice Hotels International, Inc. (CHH)
NEUTRALFundamental
64
Preço
$110.15
Capitalização de Mercado
$5.04B
Parte 1 · Quanto vale a empresa
Visão Geral
Choice Hotels does not own or run hotels: it licenses brand names such as Comfort Inn, Quality Inn and Radisson to independent owners, who pay to use the brand, reservation system and marketing in exchange for following its operating standards. The company owns a small number of hotels directly, but its business is franchising — collecting fees from thousands of properties it does not operate rather than running rooms itself.
Como gera receita
Most revenue is franchise and management fees, charged as a percentage of each hotel's room revenue plus flat platform fees, so it rises and falls with how full and how expensive franchisees' rooms are, not with Choice's own costs. A large additional revenue line is money collected from franchisees for marketing and reservation systems and then spent on their behalf — this passes through the income statement without adding profit. A small owned-hotel portfolio and other services round out the total.
Receita por segmento
Royalty and initial franchise fees, plus fees from managed properties — the core, high-margin business of licensing the brand.
Money collected from franchisees to fund shared marketing and the central reservation system, then spent on those same services — a pass-through, not a profit source.
Room and other revenue from the small number of hotels Choice owns and operates directly, unlike the rest of its franchised system.
Fees from co-branded credit cards, procurement programs and other services sold to the franchise network beyond the core royalty.
Residual revenue lines not captured in the categories above.
Vantagem competitiva
Custos de mudança · EstreitaA hotel owner who signs a franchise agreement commits for years and invests in brand-standard renovations, so switching brands means losing that investment and the reservations that come through Choice's system and loyalty program. The moat is real but narrow: at renewal, owners can and do move to a rival chain if the economics no longer work.
O que impulsiona a procura
CíclicoFranchise fees are a percentage of room revenue, so they track how much people travel and how much hotels can charge — both of which fall in a weak economy. Growth in the number of franchised hotels also depends on owners being able to get construction financing, which tightens in the same downturns that reduce travel.
Principais riscos
- Dependence on franchisee performance — Because fees are based on franchisees' room revenue, Choice's results depend on the ability of thousands of independent owners to compete for guests and to obtain financing to build or renovate — factors the company does not directly control.
- Economic weakness reduces travel — The company states that a weak U.S. or international economy reduces demand for hotel rooms and for new hotel development, which lowers both existing royalty fees and the pipeline of new franchised properties.
- Competition for franchisees — Growing the franchise system means competing against other chains for the same hotel owners, which can force Choice to lower fees or offer loans and guarantees as incentives, eating into the margin on new growth.
Os argumentos a favor
Buyers argue that a franchise model needs almost no capital of its own, converts room-revenue growth across thousands of hotels into high-margin fees, and that the brand and reservation system create enough switching cost to keep the franchise base growing net of defections.
Os argumentos contra
Sellers fear that a travel downturn hits royalty fees directly, that competition among hotel chains for the same owners compresses fee rates over time, and that the large reimbursable-cost revenue line flatters the top line without adding real profit.
Written by the editors, published on 18 de agosto de 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balanço & Liquidez
Receita
$1.62B
Últimos 12 meses (até 30/06/2026)
Resultado Líquido
$328M
Últimos 12 meses (até 30/06/2026)
Fluxo de Caixa Livre
-
Capital Próprio Total
$181M
Passivo Total
$2.74B
Rácio de Liquidez
0.93
Cobertura de Juros
4.28
Dívida/EBITDA
4.15
Resultados Por Ação
Receita & Resultado Líquido
Fluxo de Caixa Livre
Decomposição dos Resultados
Demonstração histórica
Margens ao longo do tempo
A dívida ao longo do tempo
Quanto pesa a dívida
Grelha do crescimento
Crescimento — Receitas
Estimativa de Valor Justo
Valor Justo
$179.06
Preço Atual
$110.15
Margem de Segurança
+38.5%
Intervalo de Valor Justo
$116.39 - $241.73
Métodos de Estimativa
Métricas de Avaliação
Rácio P/E
15.74
ROE
204.1%
Rácio P/B
35.18
P/FCF
-
Margem Bruta
-
ROIC
12.8%
Radar de Rentabilidade
Value Creation (Economic Moat)
ROIC
12.8%
WACC
6.9%
ROIC − WACC
+5.9 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Critérios de Análise Fundamental
Aprovado (15)
- EPS shows upward trend
- EPS CAGR 9.89%
- Price CAGR 6.94%
- ROIC 12.8%
- Operating Margin 25.2%
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- ROE 215.1%
- Revenue Growth 5Y 15.6%
- PEG Ratio 0.34
- Share Dilution -3.1%
- Net Margin Trend 20.3% vs 19.5%
- Piotroski F-Score 6/9
Reprovado (8)
- P/B Ratio 35.18
- Debt/Equity ratio
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
- Analyst Consensus 13% Buy
- Earnings Surprise avg -4.8%
- Earnings Quality (OCF/NI) 0.68
Indisponível (5)
- Gross Margin NaN%
- P/FCF NaN
- Dividend Payout NaN%
- Positive Free Cash Flow
- CapEx intensity
Piotroski F-Score
Sinais mistos: algumas áreas requerem atenção
Qualidade dos Resultados
Moderada: alguma diferença entre lucros e caixa
Diluição de Ações
A recomprar ações. Favorável ao acionista
Governação
Equipa Executiva
| Nome | Cargo | Idade |
|---|---|---|
| Mr. Dominic E. Dragisich | Interim Chief Executive Officer | 43 |
| Mr. Scott E. Oaksmith | Chief Financial Officer | 53 |
| Mr. Patrick J. Cimerola | Chief Human Resources Officer | 56 |
| Mr. Tony Pallas | Chief Technology Officer | - |
| Mr. Jeffrey W. Lobb | Senior VP, General Counsel & Secretary | - |
| Ms. Noha Abdalla | Chief Marketing Officer | 47 |
| Mr. David A. Pepper | Chief Development Officer | 58 |
| Mr. Raul Ramirez Sanchez | Chief Segment & International Operations Officer | 41 |
| Ms. Megan Brumagim | VP of Upscale Brands & Chief Sustainability Officer | - |
| Ms. Sally Bartas | Chief Talent & Culture Officer | - |
Risco de Auditoria
3
Risco do Conselho
7
Risco de Remuneração
5
Risco dos Direitos dos Acionistas
5
Parte 2 · O preço e o momento de entrar
Esta parte não serve para saber se a empresa vale: serve para escolher quando comprá-la, depois que os fundamentos te convenceram. Dentro: análise técnica, potencial, quedas históricas, exposição gama.
Latest News
Recent headlines for CHH, sourced from Markets Gazette.
- 3/2/2026NEUTRALChoice Hotels Senior VP Empties Out Stock Options Amid Retirement
Choice Hotels International saw a senior executive exercise all her remaining stock options in early February, ahead of her planned retirement in 2026. While this move is a common practice for executives nearing retirement, it does not provide a clear directional signal for the stock. Investors should interpret the event as part of the executive's personal financial planning and compensation management, rather than an indicator of changes in the company's operational or strategic outlook. There are no elements suggesting an immediate impact on Choice Hotels' valuation or future performance, maintaining a neutral view on the stock.
via Markets Gazette