InterContinental Hotels Group PLC (IHG) Income Statement
IHG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsIHG revenue and net income
Where IHG's revenue goes
2025Each bar shows an amount and its share of revenue. IHG kept 14.6% of revenue as net income.
IHG profit margins
IHG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +5.4% | +10.1% | +16.7% | +11.1% |
| Gross profit | +14.0% | +15.0% | +25.3% | +3.6% |
| Operating income | +15.1% | +24.0% | +48.7% | −2.2% |
| Net income | +20.7% | +26.4% | — | −4.7% |
| EPS (diluted) | +24.0% | −3.7% | +56.2% | −6.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
IHG quarterly EPS vs estimates
InterContinental Hotels beat the analyst EPS estimate in 6 of the last 8 quarters.
IHG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.19B | $4.92B | $3.73B | $3.89B | $2.91B | $2.39B | $4.63B | $4.34B | $4.08B | $1.72B |
| Cost of revenue | $3.53B | $3.47B | $1.79B | $2.80B | $2.01B | $1.86B | $3.38B | $3.26B | $2.95B | $580.0M |
| Gross profit | $1.66B | $1.46B | $1.94B | $1.09B | $893.0M | $536.0M | $1.24B | $1.08B | $1.12B | $1.14B |
| Research & development | — | — | — | — | — | — | — | — | $0 | $0 |
| Sales, general & admin | $381.0M | $359.0M | $338.0M | $353.0M | $292.0M | $351.0M | $330.0M | $311.0M | $304.0M | $339.0M |
| Total operating expenses | $460.0M | $414.0M | $352.0M | $403.0M | $387.0M | $361.0M | $480.0M | $410.0M | $404.0M | $426.0M |
| Operating income | $1.20B | $1.04B | $1.07B | $628.0M | $494.0M | $165.0M | $630.0M | $566.0M | $728.0M | $678.0M |
| Interest income | $116.0M | $63.0M | $39.0M | $22.0M | $8.0M | $4.0M | $114.0M | $81.0M | $72.0M | $80.0M |
| Interest expense | $202.5M | $203.0M | $91.0M | $128.0M | $147.0M | $144.0M | $121.0M | $100.0M | $76.0M | $86.0M |
| Income before taxes | $1.07B | $897.0M | $1.01B | $540.0M | $361.0M | −$280.0M | $542.0M | $485.0M | $656.0M | $591.0M |
| Income taxes | $315.0M | $269.0M | $260.0M | $164.0M | $96.0M | −$20.0M | $156.0M | $133.0M | $115.0M | $174.0M |
| Net income | $758.0M | $628.0M | $750.0M | $375.0M | $266.0M | −$260.0M | $385.0M | $351.0M | $540.0M | $414.0M |
| EBITDA | $1.22B | $1.25B | $1.27B | $815.0M | $692.0M | $31.0M | $827.0M | $742.0M | $822.8M | $849.0M |
| EPS (diluted) | $5.02 | $4.05 | $5.01 | $5.62 | $1.19 | $0.54 | $3.46 | $1.83 | $2.25 | $2.53 |
| Gross margin | 32.0% | 29.6% | 52.0% | 28.0% | 30.7% | 22.4% | 26.9% | 24.9% | 27.6% | 66.2% |
| Operating margin | 23.1% | 21.1% | 28.6% | 16.1% | 17.0% | 6.9% | 13.6% | 13.1% | 17.9% | 39.5% |
| Net margin | 14.6% | 12.8% | 20.1% | 9.6% | 9.2% | −10.9% | 8.3% | 8.1% | 13.3% | 24.1% |
| Jun '26 | Dec '25 | Jun '25 | Dec '24 | Jun '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | Jun '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.66B | $2.67B | $2.54B | $2.60B | $2.32B | $1.95B | $974.0M | $2.23B | $890.0M | $1.67B | $833.0M | $1.39B |
| Cost of revenue | $1.95B | $1.69B | $1.89B | $171.0M | $1.75B | $616.0M | $308.0M | $1.62B | $586.5M | $563.0M | $281.5M | $999.0M |
| Gross profit | $714.0M | $979.0M | $647.5M | $2.43B | $574.0M | $1.33B | $666.0M | $607.0M | $303.5M | $1.10B | $551.5M | $395.0M |
| Sales, general & admin | — | $365.0M | — | $894.0M | — | $846.0M | $418.0M | $169.0M | — | $753.0M | $374.5M | $5.0M |
| Total operating expenses | $43.0M | $404.0M | $56.0M | $1.91B | $49.0M | $853.0M | $426.5M | $1.0M | $500,000 | $824.0M | $412.0M | $35.0M |
| Operating income | $671.0M | $575.0M | $647.5M | $516.0M | $525.0M | $463.0M | $231.5M | $561.0M | $280.5M | $332.0M | $166.0M | $361.0M |
| Interest income | — | $129.0M | $13.0M | $88.0M | $52.0M | $36.0M | — | $16.0M | — | $27.0M | — | $69.0M |
| Interest expense | $86.0M | $110.6M | $91.8M | $45.0M | $84.0M | $56.5M | — | $34.0M | — | $46.2M | — | $0 |
| Income before taxes | $578.0M | $441.0M | $638.4M | $425.0M | $472.0M | $443.0M | $221.5M | $567.0M | $283.5M | $241.0M | $120.5M | $299.0M |
| Income taxes | $153.0M | $151.0M | $165.4M | $144.0M | $125.0M | $152.0M | $76.0M | $108.0M | $54.0M | $81.0M | $40.5M | $83.0M |
| Net income | $425.0M | $289.0M | $473.0M | $281.0M | $347.0M | $291.0M | $145.5M | $459.0M | $229.5M | $159.0M | $79.5M | $216.0M |
| EBITDA | $733.0M | $513.7M | $800.8M | $590.3M | $594.0M | $536.1M | $267.0M | $638.0M | $319.0M | $408.0M | $223.5M | $439.0M |
| EPS (diluted) | — | $0.63 | $1.87 | $0.69 | $1.13 | $1.09 | $1.30 | $2.19 | $0.43 | $2.82 | $0.62 | $1.82 |
| Gross margin | 26.9% | 36.7% | 25.5% | 93.4% | 24.7% | 68.4% | 68.4% | 27.3% | 34.1% | 66.2% | 66.2% | 28.3% |
| Operating margin | 25.2% | 21.5% | 25.5% | 19.8% | 22.6% | 23.8% | 23.8% | 25.2% | 31.5% | 19.9% | 19.9% | 25.9% |
| Net margin | 16.0% | 10.8% | 18.6% | 10.8% | 14.9% | 14.9% | 14.9% | 20.6% | 25.8% | 9.5% | 9.5% | 15.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in IHG's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
IHG financial results
In fiscal year 2025 (ended December 31, 2025), InterContinental Hotels reported revenue of $5.2 billion, up 5.4% from the year before. It had net income of $758.0 million (up 20.7%), a net profit margin of 14.6%. Diluted earnings per share came to $5.02. Over five years revenue grew at an average rate of 16.7% a year.
See the IHG stock overview for the latest quote and news, or the IHG chart for price history and technical indicators.
IHG income statement FAQ
What is InterContinental Hotels's annual revenue?
InterContinental Hotels reported total revenue of $5.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 5.4% from $4.9 billion the previous year.
Is InterContinental Hotels profitable?
Yes. InterContinental Hotels reported net income of $758.0 million in fiscal 2025, a net profit margin of 14.6%; its operating margin was 23.1%.
What is InterContinental Hotels's gross margin?
InterContinental Hotels's gross margin was 32.0% in fiscal 2025: for every $100 of revenue, InterContinental Hotels kept $32 after the direct cost of its products and services.
How fast is InterContinental Hotels growing?
Revenue grew 16.7% a year on average over the last five fiscal years, from $2.4 billion to $5.2 billion.
What are InterContinental Hotels's earnings per share?
InterContinental Hotels earned $5.02 per diluted share in fiscal 2025, compared with $4.05 a year earlier.
When does InterContinental Hotels's fiscal year end?
InterContinental Hotels's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.