Intercontinental Hotels Group PLC /NEW/ (IHG) intrinsic value & 10-year financials
Intercontinental Hotels Group PLC /NEW/ (IHG) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 13.1% a year to $5.2B, with an average return on invested capital of -57.7%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $167.77
- Market cap
- $25.9B
- Revenue (FY2025)
- $5.2B
- Revenue growth (10-yr CAGR)
- 13.1%
- ROIC (10-yr avg)
- -57.7%
- Free cash flow (FY2025)
- $870.0M
IHG 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $5.2B | $759.0M | $4.87 | $870.0M | 23.1% | 575.9% |
| FY2024 | $4.9B | $628.0M | $3.85 | $695.0M | 21.1% | -1012.2% |
| FY2023 | $4.6B | $750.0M | $4.41 | $865.0M | 23.1% | -545.9% |
| FY2022 | $3.9B | $376.0M | $2.06 | $592.0M | 16.1% | -327.5% |
| FY2021 | $2.9B | $265.0M | $1.45 | $619.0M | 17.0% | 442.2% |
| FY2020 | $2.4B | -$260.0M | -$1.43 | $111.0M | -6.4% | -38.0% |
| FY2019 | $4.6B | $386.0M | $2.09 | $578.0M | 13.6% | 121.6% |
| FY2018 | $4.3B | $352.0M | $1.83 | $620.0M | 13.1% | 66.6% |
| FY2017 | $1.8B | $593.0M | $305.20 | $590.0M | 42.8% | 76.4% |
| FY2016 | $1.7B | $417.0M | $193.50 | $720.0M | 39.5% | 64.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
IHG Hotels & Resorts is a consistent compounder, expanding top-line revenue at 13.1% annually over the past decade.
IHG Hotels & Resorts has earned high returns on invested capital, averaging 28.2% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, IHG Hotels & Resorts shows that management has aggressively returned capital to shareholders by retiring 27.2% of outstanding shares, and that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, IHG Hotels & Resorts is modeled at -33.6% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-246.21 per share.