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InterContinental Hotels GroupICHGF 91 Owner Earnings per Share (TTM) is 7.50 as of Dec. 2025, which is 62% below its 10-year median of 19.60. GuruFocus rates ICHGF with a GF Score™ of 91/100 and a GF Value™ of $130.45 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 459 Travel & Leisure companies, InterContinental Hotels Group ranks worse than 64.05% on this metric.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
InterContinental Hotels Group's Owner Earnings per Share (TTM) ended in Dec. 2025 was $7.50. It's Price-to-Owner-Earnings ratio for today is 20.85.
The historical rank and industry rank for InterContinental Hotels Group's Owner Earnings per Share (TTM) or its related term are showing as below:
ICHGF'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 7.17 Med: 19.6 Max: 27.02
Current: 20.86
Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.
Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.
InterContinental Hotels Group Owner Earnings per Share (TTM) Related Terms
InterContinental Hotels Group Owner Earnings per Share (TTM) Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
InterContinental Hotels Group Owner Earnings per Share (TTM) Chart
ICHGF vs MAR, HLT, H: Owner Earnings per Share (TTM) Comparison
For the Lodging subindustry, InterContinental Hotels Group's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
InterContinental Hotels Group Price-to-Owner-Earnings vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, InterContinental Hotels Group's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where InterContinental Hotels Group's Price-to-Owner-Earnings falls into.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
3. Other non-cash charges usually include "Stock Based Compensation" and "Change In Deferred Tax":
However, to be conservative, GuruFocus will not add Stock Based Compensation back to net income.
InterContinental Hotels Group's Change In Deferred Tax for the trailing twelve months (TTM) ended in Dec. 2025 was $315 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $55 Mil
It is usually best to take a long-term average of maintenance capital expenditure. Ideally this would be as long as 10 years and include at least one economic downturn. However, since many companies do not have as long as 10-year history, here GuruFocus uses the latest 5 years data to do the calculation. To smooth out unusual years but reflect recent developments, we take an average of the 5 year maintenance capital expenditure.
The following shows how to get maintenance capital expenditure.
First, calculate the revenue change regarding to the previous year. If the revenue decreased from the previous year, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous year, then calculate the percentage of Net PPE as of corresponding Revenue.
Growth Capital Expenditure = Percentage of Property, Plant and Equipment as of corresponding Revenue * Revenue Increase
Third, calculate Capital Expenditure (positive) - Growth Capital Expenditure.
If [Capital Expenditure (positive) - Growth Capital Expenditure] was negative, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
If [Capital Expenditure (positive) - Growth Capital Expenditure] was positive, then the Maintenance Capital Expenditure = Capital Expenditure (positive) - Growth Capital Expenditure.
Fourth, get the average of the 5 years maintenance capital expenditure.
InterContinental Hotels Group's 5-Year Average Maintenance Capital Expenditure = $55 Mil
5. "Change In Working Capital" is from cashflow statement. InterContinental Hotels Group's Change In Working Capital for the trailing twelve months (TTM) ended in Dec. 2025 was $36 Mil.
Note: GuruFocus' Change in Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And sometimes it includes non-current parts of assets and liabilities.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Owner Earnings per Share (TTM) of 7.50 mean?
InterContinental Hotels Group (ICHGF) has a Owner Earnings per Share (TTM) of 7.50 as of Dec. 2025. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on InterContinental Hotels Group. This is 62% below median its historical median of 19.60. Over the past decade, InterContinental Hotels Group's Owner Earnings per Share (TTM) has ranged from 7.17 to 27.02. According to the industry distribution chart, InterContinental Hotels Group ranks #294 out of 459 companies in the Travel & Leisure industry, placing it in the top 64.1%.
Is InterContinental Hotels Group's Owner Earnings per Share (TTM) too high?
InterContinental Hotels Group's current Owner Earnings per Share (TTM) of 7.50 is 62% below median its 10-year median of 19.60. Over the past 10 years, this metric has ranged from a low of 7.17 to a high of 27.02. The Travel & Leisure industry median Owner Earnings per Share (TTM) is 13.52. InterContinental Hotels Group's value of 7.50 is 44.5% below this industry median. Based on the distribution chart, InterContinental Hotels Group ranks #294 out of 459 companies in the Travel & Leisure industry, which is below the industry midpoint. Overall, InterContinental Hotels Group has a GF Score™ of 91/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does InterContinental Hotels Group's Owner Earnings per Share (TTM) compare to MAR and HLT?
According to the Travel & Leisure industry distribution chart, InterContinental Hotels Group ranks #294 out of 459 companies for Owner Earnings per Share (TTM). This places InterContinental Hotels Group in the lower half of its industry. The industry median Owner Earnings per Share (TTM) is 13.52. InterContinental Hotels Group's value of 7.50 is 44.5% below this benchmark. Historically, InterContinental Hotels Group's own Owner Earnings per Share (TTM) has ranged from 7.17 to 27.02 over the past decade. While the company's 10-year median is 19.60 vs. the industry median of 13.52, InterContinental Hotels Group has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Owner Earnings per Share (TTM) for a Travel & Leisure company?
The median Owner Earnings per Share (TTM) among Travel & Leisure companies is 13.52, based on 459 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. InterContinental Hotels Group's current Owner Earnings per Share (TTM) of 7.50 is 44.5% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on InterContinental Hotels Group. For the Travel & Leisure industry, the median Owner Earnings per Share (TTM) is 13.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. InterContinental Hotels Group's current Owner Earnings per Share (TTM) is 7.50, which is 62% below median its own 10-year median of 19.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is InterContinental Hotels Group stock overvalued right now?
Based on GuruFocus' analysis, InterContinental Hotels Group (ICHGF) is currently considered Modestly Overvalued. The stock's GF Value™ is $130.45, compared to a current price of $156.41 — trading 19.9% above its estimated fair value. The current Owner Earnings per Share (TTM) is 7.50, which is 62% below median its 10-year median of 19.60 and 44.5% below the Travel & Leisure industry median of 13.52. InterContinental Hotels Group's overall GF Score™ is 91/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For InterContinental Hotels Group (ICHGF), the current Owner Earnings per Share (TTM) is 7.50 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is InterContinental Hotels Group (ICHGF) Overvalued in 2026?
Based on GuruFocus' analysis, InterContinental Hotels Group stock appears to be overvalued.
The current stock price of $156.41 is trading 19.9% above its estimated GF Value™ of $130.45.
GuruFocus considers InterContinental Hotels Group to be Modestly Overvalued.
Key valuation signals for ICHGF:
Owner Earnings per Share (TTM): 7.50 (62% below median its 10-year median of 19.60)
GF Value™: $130.45 vs. price of $156.41 (19.9% above fair value)
Industry Position: 44.5% below the Travel & Leisure median (#294 of 459)
No single metric tells the full story. See the ICHGF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
InterContinental Hotels Group operates 1 million rooms across 20 brands addressing the midscale through luxury segments, as of Dec. 31, 2025. Holiday Inn and Holiday Inn Express constitute the largest brand, while Hotel Indigo, Even, Hualuxe, Kimpton, and Voco are newer lifestyle brands experiencing strong demand. The company launched a midscale brand, Avid, in 2017 and closed on a 51% stake in Regent Hotels in 2018. It acquired Six Senses in 2019 and launched another midscale brand, Garner, in 2023, followed by a premium conversion brand, Noted Collections, in 2026. Managed and franchised represent 99% of total rooms. As of Dec. 31, 2025, the Americas represented 52% of total rooms, with Greater China accounting for 20% and Europe, Asia, the Middle East, and Africa making up 28%.
91GF Score
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Owner Earnings per Share (TTM) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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