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Intercontinental Hotels Group

IHG Consumer Cyclical Lodging

Intercontinental Hotels Group’s revenue for fiscal 2025 (year ended December 2025) was $5.2 billion, up 5.40% from fiscal 2024. Revenue growth for five consecutive years.

167.77 1.62 +0.98%
Market cap
$24.3B
P/E
28.4×
Fwd P/E
27.9×
Dividend yield
1.13%
F-score
7/9
Altman Z
3.23
Beneish M
−2.55
Dividend safety
62/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 22.56%

Capital & Financial Ratios $m

Market Cap 24,300.00
Revenue 7,818.81
Net Income 2,281.00
Free Cash Flow 2,010.00
Net Debt 3,322.00
Current Ratio 0.66 (below 1: weak)
Debt/Equity (1.39) (negative: negative equity)
P/E ratio 28.39
Fwd P/E 27.90
P/S ratio 0.00
P/B ratio 0.00
Past 5Y EPS Growth —
This Y EPS Growth 15.23% (at or above 15%: strong)
Next Y EPS Growth 13.36%
Next Y revenue growth (49.30%) (below 0%: weak)
Next 5Y EPS Growth 13.55%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.4×, against a ten-year median of 0.3×; over the ten years it ranged from 0.2× in 2023 to 0.5× in 2019.
P/E against its own 10 years 84.99%
10-year low 10-year high
EV/Sales against its own 10 years 93.52%
10-year low 10-year high
EV/FCF against its own 10 years 76.78%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate 1.90
Annual Dividend Yield 1.13%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.90
1.26
0.65
2025 1.73
1.14
0.59
2024 1.57
1.04
0.53
2023 1.43
0.95
0.48
2022 0.44
0.86
0.44
2021 Powerpack
2020 0.86
0.86
2019 6.69
2.76
2.75
0.78
0.40
2018 1.66
0.53
0.75
0.38
2017 4.48
2.23
2.23
1.65
0.35
0.26
2016 10.20
0.74
0.53
8.35
8.37
0.33
0.25
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,322 1,008 1,129 825
Receivables 755 807 860 984
Inventory 5 4 5 4
Other 47 50 55 63
2,129 1,869 2,049 1,876
2023 2024 2025 Q'26
Payables 711 650 676 769
ST’ Debt 599 398 478 1,046
Other 47 36 37 41
2,190 1,928 2,100 2,824

Compound Annual Growth %

10y 5y 3y
Sales 11.15% 16.73% 10.06%
Cash Flow 3.64% 45.65% 11.60%
Earnings (4.66%) 0.00% 26.44%
Book Value 0.00% 0.00% 0.00%

Revenue $m

Mar Jun Sep Dec Year
’26 — — — — —
’25 — — — — 5,189
’24 — — — — 4,923
’23 — — — — 4,624
’22 — — — — 3,892
’21 — — — — 2,907
’20 — — — — 2,394
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 — — — — —
’25 — — — — 898
’24 — — — — 724
’23 — — — — 893
’22 — — — — 646
’21 — — — — 636
’20 — — — — 137
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 — 322 — — —
’25 — 160 — 870 701
’24 — 126 — 704 655
’23 — 280 — 865 811
’22 — 145 — 595 550
’21 — 157 — 663 628
’20 — (34) — 112 62
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 — — — — —
’25 — — — — 4.87
’24 — — — — 3.85
’23 — — — — 4.41
’22 — — — — 2.08
’21 — — — — 1.45
’20 — — — — (1.43)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 38.13 49.49 53.57 55.14 25.39 58.74 47.06 58.37 89.02 94.78

Analyst estimates 2026–2028

Powerpack
High 55.64 67.39 72.95 71.02 69.04 75.20 71.71 91.63 131.68 144.96
People
People Employees 6,587 6,658 12,812 14,436 12,832 11,161 12,899 13,462 12,587 13,049
Revenue/emp, $m 0.26 0.61 0.34 0.32 0.19 0.26 0.30 0.34 0.39 0.40
Income, $m
Income, $m Revenue 1,715 4,075 4,337 4,627 2,394 2,907 3,892 4,624 4,923 5,189
Gross margin, % 66.18 85.99 84.14 83.10 85.21 83.28 83.35 83.95 84.87 85.28
EBT 591 656 482 542 (280) 361 540 1,010 897 1,074
EBT margin, % 34.46 16.10 11.11 11.71 (11.70) 12.42 13.87 21.84 18.22 20.70
Net income 417 541 350 386 (260) 265 376 750 628 759
Depreciation 127 114 164 170 172 192 154 150 145 146
Per share, $
Per share, $ Revenue 8.52 21.11 22.83 25.28 13.15 15.89 21.50 27.36 30.54 33.61
Earnings 2.14 3.23 1.83 2.10 (1.43) 1.45 2.08 4.44 3.90 4.91
Cash flow 3.73 2.99 3.73 3.57 0.75 3.48 3.57 5.28 4.49 5.82
Capex (1.04) (1.12) (0.83) (0.98) (0.41) (0.04) (0.53) (0.49) (0.43) (1.28)
Free cash flow 2.70 1.87 2.90 2.59 0.34 3.43 3.04 4.80 4.06 4.54
Book value (3.77) (6.74) (5.95) (8.01) (10.16) (8.05) (8.88) (11.51) (14.32) (17.72)
Shares, m 201 193 190 183 182 183 181 169 161 154
Valuation, ×
Valuation, × P/E 17.67 23.90 21.78 21.24 97.21 4,050.31 16.96 15.36 21.14 23.83
P/S 5.12 6.92 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
P/B 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EV/Sales 0.00 0.00 0.37 0.27 0.29 0.26 0.21 0.24 0.29 0.39
EV/FCF 0.44 0.54 0.78 1.21 2.55 1.53 0.89 0.96 1.17 1.69
Cash, $m
Cash, $m Operating cash flow 752 577 709 653 137 636 646 893 724 898
Capex (209) (216) (158) (179) (75) (8) (96) (82) (69) (197)
Free cash flow 543 361 551 474 62 628 550 811 655 701
Balance, $m
Balance, $m Working capital (356) (417) (34) (449) 376 442 134 (61) (59) (51)
Total debt 1,712 2,019 2,014 2,165 3,767 2,845 2,396 3,166 3,274 4,201
Net debt 1,506 1,851 1,310 1,970 2,092 1,395 1,420 1,844 2,266 3,072
Shareholders’ equity (759) (1,301) (1,131) (1,465) (1,849) (1,474) (1,608) (1,946) (2,308) (2,736)
Returns, %
Returns, % ROA 12.37 18.19 9.83 9.29 (5.63) 5.45 8.40 16.61 13.14 15.02
ROIC 58.07 82.73 203.21 77.97 (39.35) 0.00 0.00 0.00 0.00 222.84
ROE (188.18) (52.43) (28.70) (29.66) 15.69 (16.01) (24.33) (42.21) (29.53) (30.06)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Dec 2012

Charts ten years each

Intercontinental Hotels Group vs peers in Lodging (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MAR Marriott International, Inc. $100.6B 40.1× 35.1× +4.85% (above 0%: growing) +4.32% (above 0%: growing) +81.76% (above 0%: growing) 21.98% 17.38% Compare
HLT Hilton Worldwide Holdings Inc. $77.2B 50.2× 41.0× +6.50% (above 0%: growing) +14.59% (above 0%: growing) −29.27% (below 0%: shrinking) 92.04% 25.68% Compare
IHG Intercontinental Hotels Group $24.3B 28.4× 27.9× +93.76% (above 0%: growing) +931.26% (above 0%: growing) +155.56% (above 0%: growing) 25.15% 0.00%
H Hyatt Hotels Corporation $15.9B 197× 62.6× +1.16% (above 0%: growing) n/m +125.23% (above 0%: growing) 20.78% 6.94% Compare
HTHT H World Group Limited Sponsored ADR $14.1B 19.8× 17.7× +17.06% (above 0%: growing) +5.71% (above 0%: growing) +917.02% (above 0%: growing) 43.43% 31.05% Compare
WH Wyndham Hotels & Resorts $5.6B 27.6× 18.3× −5.54% (below 0%: shrinking) +21.24% (above 0%: growing) +32.76% (above 0%: growing) 93.07% 46.40% Compare
CHH Choice Hotels International, Inc. $4.8B 15.2× 18.6× +3.36% (above 0%: growing) −19.32% (below 0%: shrinking) +25.40% (above 0%: growing) 94.22% 23.63% Compare
ATAT Atour Lifestyle Holdings Limited Sponsored ADR $3.8B 16.1× 15.4× +49.28% (above 0%: growing) +42.86% (above 0%: growing) +19.35% (above 0%: growing) 43.60% 22.15% Compare
CVEO Civeo Corporation $318.3M — (loss-making) — (loss-making) +10.65% (above 0%: growing) n/m +233.36% (above 0%: growing) 23.00% 2.83% Compare
Median of peers $9.9B 27.6× 18.6× +5.68% +10.15% +57.26% 43.52% 22.89%

All 13 Lodging stocks →

Intercontinental Hotels Group (IHG) key facts

  • Strength: Intercontinental Hotels Group’s revenue for fiscal 2025 (year ended December 2025) was $5.2 billion, up 5.40% from fiscal 2024.
  • Intercontinental Hotels Group (IHG) is a Lodging company in the Consumer Cyclical sector, traded in the US as an ADR.
  • As of October 16, 2026, IHG traded at $167.77, a market capitalization of $24.3 billion.
  • Intercontinental Hotels Group pays an annual dividend of $1.90 per share, a yield of 1.13%.
  • Return on equity was −30.1% and debt-to-equity -1.39.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 3.23 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/IHG · Data as of Dec 31, 2012 · For information only; not investment advice. · © 2026 stockrow.com