Retour au classement

Wyndham Hotels & Resorts, Inc. (WH)

Juste valeur
Consumer CyclicalLodgingUnited States

Fondamental

60

Prix

$71.84

Capitalisation boursière

$5.14B

Partie 1 · Ce que vaut l'entreprise

Vue d'ensemble

Wyndham franchises hotels rather than owning them: it licenses brands such as Days Inn, Super 8, Ramada and Wyndham to independent and small-chain hotel owners around the world, who pay to use the name, the central reservation system and the Wyndham Rewards loyalty program. It operates through more than 6,200 franchisees and is concentrated in economy and midscale hotels rather than luxury. It owns almost none of the real estate its brands appear on.

Comment l'entreprise gagne de l'argent

Franchisees pay Wyndham a royalty of roughly 5% of their room revenue for the right to use its brand, plus a separate marketing and reservation fee of 2-4% of room revenue that funds the shared booking system and Wyndham Rewards program rather than flowing through as profit. A smaller stream is a licensing fee from Travel + Leisure, its former parent, under an agreement dating to its 2018 spin-off — revenue tied to a legacy contract rather than to hotels Wyndham operates today.

Chiffre d'affaires par segment

Royalties and Franchise Fees38.1%

Core brand-licensing income, roughly 5% of a franchised hotel's room revenue, the most direct measure of Wyndham's franchise business.

Marketing and Reservation Fees33.2%

Fees that fund the shared reservation system and marketing; largely pass-through spending rather than pure profit for Wyndham.

Other Products and Services13.5%

Ancillary revenue from other services Wyndham provides to franchisees and hotel owners beyond core royalties.

License and Other Fee From Former Parent8.9%

A contractual licensing fee paid by Travel + Leisure, the vacation-ownership business Wyndham spun off in 2018, unrelated to hotel operations.

Loyalty Program6.4%

Fees tied to running the Wyndham Rewards loyalty program, funded by participating hotels and partners.

Avantage concurrentiel

Coûts de changement · Étroit

Franchise agreements typically run 10 to 20 years, and switching a hotel's brand mid-agreement means new signage, systems and lost access to Wyndham's reservation pipeline and loyalty members — a real cost for the franchisee. That keeps existing hotels in the system, but it does not stop Wyndham from having to win every new franchise deal against Choice, Best Western and other economy-brand rivals.

Ce qui stimule la demande

Cyclique

Franchise and marketing fees are calculated as a percentage of franchisees' room revenue, so they rise and fall with hotel occupancy and room rates, which the company itself ties to economic conditions such as inflation, interest rates, employment and discretionary income — travel spending is one of the first things households and businesses cut in a downturn.

Principaux risques

  • Franchisee performance drives fee revenue — Royalties and marketing fees are a percentage of franchisees' room revenue, so a weak year for individual hotel owners — due to location, competition or local conditions — reduces Wyndham's own revenue.
  • Economic and travel-demand downturns — The company names recessionary pressures, inflation and reduced discretionary income among the economic factors that can cut hotel demand and therefore franchise fees.
  • Brand and reputation risk — Franchisees' and guests' perception of a brand affects every hotel flying that flag; cyber incidents or reputational damage at the corporate level can hit revenue system-wide.
  • Dependence on a legacy licensing agreement — A meaningful slice of revenue is a fee from Travel + Leisure under a contract tied to Wyndham's 2018 spin-off, a revenue source outside its own hotel-franchising operations.

Les arguments en faveur

Buyers argue that Wyndham's economy and midscale focus is more resilient than luxury hotels in a downturn since travelers trade down rather than stop traveling, that long franchise agreements and a loyalty program give it recurring, high-margin fee income with almost no real-estate risk, and that the model scales without Wyndham having to fund new hotel construction itself.

Les arguments contre

Sellers worry that franchise and marketing fees are ultimately a percentage of what individual hotel owners earn, so a broad travel slowdown hits Wyndham indirectly but still meaningfully, that competition among economy-brand franchisors for the same hotel owners limits pricing power, and that a slice of revenue depends on a legacy contract with its former parent rather than the core franchising business.

Written by the editors, published on 18 août 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.

Bilan & Liquidités

Chiffre d'affaires

$1.42B

12 derniers mois (au 30/06/2026)

Résultat net

$208M

12 derniers mois (au 30/06/2026)

Flux de trésorerie libre

$321M

Capitaux propres totaux

$468M

Passif total

$3.71B

Ratio de liquidité général

0.99

Couverture des intérêts

3.01

Dette/EBITDA

5.77

Bénéfice par action

Chiffre d'affaires & Résultat net

Flux de trésorerie libre

Décomposition du résultat

État historique

Marges dans le temps

La dette dans le temps

Le poids de la dette

Grille de la croissance

Croissance — Chiffre d'affaires

Estimation de la juste valeur

Cas généralJustement valorisé

Juste valeur

$82.23

Prix actuel

$71.84

Marge de sécurité

+12.6%

Fourchette de juste valeur

$53.45 - $111.02

Écart entre les méthodes de valorisation utilisées, pas un intervalle de confiance calibré statistiquement.

Méthodes d'estimation

Objectif de cours des analystes:$97.59
Flux de trésorerie actualisés (DCF):$129.35
Multiple de résultat (P/E):$36.13
Formule de croissance de Graham:$44.93
Valeur de la capacité bénéficiaire (EPV):$55.09
P/B justifié:$56.27
Actualisation des dividendes (Gordon):$41.02
P/FFO, les fonds provenant de l'exploitation:$54.98
Bénéfices de milieu de cycle:$67.17
Multiple sur le chiffre d'affaires:$32.32
Consensus des analystes:Achat fort (21B / 4H / 0S)
Dernière surprise sur les résultats:+2.24%

Indicateurs de valorisation

Ratio P/E

26.12

ROE

41.2%

Ratio P/B

11.11

P/FCF

16.51

Marge brute

-

ROIC

8.8%

Radar de rentabilité

Création de valeur (avantage concurrentiel)

ROIC

8.8%

WACC

6.8%

ROIC − WACC

+2.1 pp

Le ROIC dépasse le coût du capital — l'entreprise crée de la valeur pour les actionnaires.

Critères d'analyse fondamentale

Réussi (17)

  • EPS shows upward trend
  • Price CAGR 5.44%
  • ROIC 8.8%
  • P/FCF 16.51
  • Operating Margin 30.2%
  • Positive Free Cash Flow
  • CapEx intensity
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • ROE 42.1%
  • Analyst Consensus 84% Buy
  • Earnings Surprise avg 2.5%
  • Earnings Quality (OCF/NI) 1.78
  • Share Dilution -3.6%
  • Piotroski F-Score 5/9

Échoué (8)

  • EPS CAGR 3.98%
  • P/B Ratio 11.11
  • Debt/Equity ratio
  • Low reliance on intangibles
  • Price below Graham Number
  • DCF valuation (Overvalued)
  • Revenue Growth 5Y 1.9%
  • Net Margin Trend 14.7% vs 23.2%

Indisponible (3)

  • Gross Margin NaN%
  • Dividend Payout NaN%
  • PEG Ratio (need PE > 0 and growth > 0)

Score F de Piotroski

5/9

Signaux mixtes : certains domaines nécessitent attention

score
criteria

Qualité des bénéfices

1.78

Qualité élevée : bénéfices soutenus par la trésorerie

Dilution du capital

-3.6%

Rachat d'actions. Favorable aux actionnaires

Participations institutionnelles

Gouvernance

Équipe dirigeante

NomTitreÂge
Mr. Geoffrey A. BallottiPresident, CEO & Director63
Mr. Paul F. CashGeneral Counsel, Chief Compliance Officer & Corporate Secretary55
Ms. Monica MelanconChief Human Resource Officer57
Mr. Scott R. StricklandChief Commercial Officer54
Mr. Amit SripathiChief Financial Officer-
Mr. Christopher AndroskiSenior VP, Controller & Chief Accounting Officer51
Mr. Matt CapuzziSenior Vice President of Investor Relations-
Mr. Dimitris ManikisPresident of Europe, Middle East, Eurasia & Africa-
Mr. Joon Aun OoiPresident of Asia Pacific-
Mr. Shilpan PatelExecutive Vice President of North America Franchise Operations-

Risque d'audit

5

Risque du conseil

4

Risque de rémunération

7

Risque droits des actionnaires

1

Partie 2 · Le prix et le moment d'entrer

Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.

Documents

  • Rapport annuel (10-K)

    Un aperçu annuel de l'activité, des résultats financiers et des risques de l'entreprise.

    Déposé le 2026-02-19

    Voir le document
  • Rapport trimestriel (10-Q)

    Une mise à jour de la performance financière des trois derniers mois.

    Déposé le 2026-07-23

    Voir le document
  • Rapport d'événement important (8-K)

    Un avis concernant un événement important, comme un changement de direction ou une annonce majeure.

    Déposé le 2026-07-22

    Voir le document

via SEC EDGAR

Historique des résultats

via SEC EDGAR

Latest News

Recent headlines for WH, sourced from Markets Gazette.

No recent news for WH.