WYNDHAM HOTELS & RESORTS, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data WYNDHAM HOTELS & RESORTS, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,269	1,280	1,868	2,053	1,300	1,565	1,498	1,397	1,408	1,429
General and administrative	83	88	119	130	116	113	123	130	130	125
Operating income	295	249	283	307	-46	446	558	503	495	402
Interest expense	1	6	60	100	112	93	80	102	124	139
Interest income	0	1	7	4	2	1	5	6	5	8
Pre-tax income	294	243	223	207	-158	335	476	398	368	263
Income tax	118	13	61	50	-26	91	121	109	79	70
Net income	176	230	162	157	-132	244	355	289	289	193
EBITDA	350	304	351	378	52	541	635	579	566	464
EPS, basic	1.76	2.31	1.62	1.63	-1.42	2.61	3.93	3.43	3.64	2.51
EPS, diluted	1.76	2.31	1.62	1.62	-1.42	2.60	3.91	3.41	3.61	2.50
Shares, basic (weighted)	99.8	99.8	99.5	96.5	93.4	93.4	90.3	84.4	79.5	76.8
Shares, diluted (weighted)	99.8	99.8	99.8	96.6	93.4	93.9	90.8	84.9	80.1	77.2
Dividend per share			0.75	1.16	0.56	0.88	1.28	1.40	1.52	1.64

Balance sheet

	FY2016	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	30	57	366	94	493	171	161	66	103	64
Receivables		194	293	304	295	246	234	241	271	291
Other current assets		54	152	53	67	98	91	39	49	47
Total current assets		334	851	499	900	720	545	373	467	435
Property, plant and equipment		250	326	307	278	106	99	88	94	104
Lease right-of-use assets				29	14	14	11	10	10	6
Goodwill	377	423	1,547	1,539	1,525	1,525	1,525	1,525	1,525	1,525
Intangible assets		260	594	553	513	474	375	347	318	282
Other non-current assets		187	265	242	226	243	348	468	589	628
Total assets	1,998	2,137	4,976	4,533	4,644	4,269	4,123	4,033	4,223	4,182
Accounts payable		38	61	30	28	31	39	32	37	38
Accrued liabilities		186	502	279	226	258	264	299	265	290
Deferred revenue		84	109	132	71	70	83	91	121	134
Short-term debt		0	21	21	21	21	20	37	43	45
Total current liabilities		411	693	462	346	397	406	459	466	507
Long-term debt		0	2,120	2,101	2,576	2,063	2,057	2,164	2,420	2,515
Lease liabilities				24	11	10	7	6	6	3
Other non-current liabilities		46	182	220	242	189	189	172	186	201
Total liabilities		875	3,558	3,321	3,681	3,180	3,161	3,287	3,573	3,714
Total debt		0	2,141	2,122	2,597	2,084	2,077	2,201	2,463	2,560
Paid-in capital		0	1,475	1,488	1,504	1,543	1,569	1,599	1,647	14
Retained earnings		0	69	113	-82	79	318	488	654	471
Treasury stock		0	-119	-363	-408	-519	-964	-1,361	-1,669	-21
Other comprehensive income	0	5	-8	-27	-52	-15	38	19	17	3
Shareholders' equity	1,086	1,262	1,418	1,212	963	1,089	962	746	650	468
Total equity	1,086	1,262	1,418	1,212	963	1,089	962	746	650	468
Total liabilities and equity		2,137	4,976	4,533	4,644	4,269	4,123	4,033	4,223	4,182
Shares outstanding		0	98.1	101	101	101	102	102

Cash flow statement

	FY2016	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	176	230	162	157	-132	244	355	289	289	193
Depreciation and amortization	55	55	68	71	98	95	77	76	71	62
Stock-based compensation	10	11	9	20	21	28	33	39	45	43
Deferred income tax	26	-91	0	-14	-23	-1	-39	-17	4	-57
Change in receivables	0	-10	-63	-27	-38	25	16	-10	-39	-48
Change in payables	-13	24	85	-28	-46	39	14	-4	-33	38
Cash from operations	264	278	231	100	67	426	399	376	290	367
Capital expenditures	-42	-46	-73	-50	-33	-37	-39	-37	-49	-46
Acquisitions	-70	-140	-1,703	0	0
Cash from investing	-114	-197	-1,728	-53	-31	-34	179	-66	-65	-103
Debt issued	0	0	2,100	0	1,244	45	400	1,378	1,835	405
Debt repaid	0	0	-4	-16	-760	-574	-404	-1,245	-1,539	-312
Stock issued				0	0	17	4	0	22	12
Share buybacks	0	0	-117	-242	-50	-107	-448	-393	-310	-266
Dividends paid	0	0	-77	-112	-53	-82	-116	-118	-122	-127
Cash from financing	-161	-51	1,808	-320	363	-713	-584	-402	-175	-314
Net change in cash	-10	29	307	-272	399	-322	-10	-95	47	-49
Free cash flow	222	232	158	50	34	389	360	339	241	321
Interest paid			56	100	101	96	82	103	126	142
Income taxes paid				-59	-9	114	123	95	95	73

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $69.99 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	30.2%	Operating income / revenue.
EBITDA margin	34.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	20.3%	Pre-tax income / revenue.
Net margin	14.7%	Net income / revenue.
FCF margin	22.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	26.2%	Cash from operations / revenue.
Effective tax rate	27.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	43.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	4.8%	Net income / average total assets.
Return on invested capital (ROIC)	10.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	3.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.4%	Capital expenditures / revenue.
D&A / revenue	4.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	1.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-1.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	1.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-18.8%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-10.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	-18.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-9.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	54.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-33.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-18.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-30.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-13.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	26.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-2.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	40.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	33.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-3.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	56.7%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	7.9%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	8.6%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	24.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-28.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-21.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-13.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-1.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	0.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-2.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-5.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-3.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.99x	Current assets / current liabilities.
Quick ratio	0.80x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.14x	(Cash + short-term investments) / current liabilities.
Debt / equity	5.57x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	61.7%	Total debt / total assets.
Liabilities / assets	88.9%	Total liabilities / total assets.
Net debt	$2.61B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	5.32x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	3.01x	Operating income / interest expense.
Working capital	-$6.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	35.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$1.05B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.33x	Revenue / average total assets.
Fixed asset turnover	9.58x	Revenue / average property, plant and equipment.
Receivables turnover	4.28x	Revenue / average receivables.
Days sales outstanding	85 days	365 x average receivables / revenue.
FCF conversion	155.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	12.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.77	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$18.86	Revenue / diluted weighted shares.
FCF per share	$4.30	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.93	Cash from operations / diluted weighted shares.
Book value per share	$6.38	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$13.90	Tangible book value / shares outstanding.
Cash per share	$0.92	(Cash + short-term investments) / shares outstanding.
Payout ratio	61.5%	Dividends paid / net income, when net income is positive.
Dividends / FCF	39.6%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	68.1%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$5.19B	Share price x shares outstanding.
Enterprise value	$7.80B	Market cap + total debt - cash - short-term investments.
P/E	25.0x	Market cap / net income. Only when net income is positive.
P/S	3.66x	Market cap / revenue.
P/B	10.8x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	16.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	14.0x	Market cap / cash from operations, when positive.
EV/Sales	5.50x	Enterprise value / revenue.
EV/EBIT	18.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	15.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	24.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.2%	Free cash flow / market cap.
Earnings yield	4.0%	Net income / market cap (the inverse of P/E).
Dividend yield	2.5%	Dividends paid over the period / market cap.
Shareholder yield	6.7%	(Dividends paid + share buybacks) / market cap.

What was WYNDHAM HOTELS & RESORTS, INC.'s revenue in fiscal 2025?

WYNDHAM HOTELS & RESORTS, INC. reported revenue of $1.43B for fiscal 2025, 1.5% higher than the year before.

Was WYNDHAM HOTELS & RESORTS, INC. profitable in fiscal 2025?

Yes. Net income was $193.0M, a net margin of 13.5%.

How much free cash flow did WYNDHAM HOTELS & RESORTS, INC. generate in fiscal 2025?

Cash from operations of $367.0M minus capital expenditures of $46.0M left free cash flow of $321.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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