NYSE · Consumer Cyclical

Wyndham Hotels & Resorts, Inc.

WH · Lodging

$80.22

▼ -0.61 (-0.76%)

Data cached · refreshes every 10 min

Mr. Market is currently offering Wyndham Hotels & Resorts, Inc. at $80.22.

The business passes only 2 of 7 of Graham's defensive criteria — well below his required standard.

Overall Grade

Defensive

Enterprising

Profitability B

Operating Margin 35.6%

Net Income Margin 13.5%

Fin. Health F

Years to Pay Off Debt 13.3 yrs

Working Capital vs Long-Term Debt -$2.6B

Working Capital -$72M

Valuation F

Margin of Safety 0.0%

Price-to-Book 12.83x

Cash Flow B

Free Cash Flow $321M

CapEx % of Net Income 23.8%

Owner Earnings $301M

2/7

Graham Score

Speculative

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

Market Data

Market Cap $6.0B

Enterprise Value $8.6B

P/E (TTM) 31.84

Dividend Yield 2.05%

Exchange NYSE

Key Margins

Gross Profit N/A

Operating Margin 35.6%

Net Margin 13.5%

Company Info

Sector Consumer Cyclical

Industry Lodging

Employees 2000

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering Wyndham Hotels & Resorts, Inc. at $80.22.

The business passes only 2 of 7 of Graham's defensive criteria — well below his required standard.

At $80.22, the stock trades at a 328% premium to its Graham Number of $18.75. Graham would consider this price speculative.

There is no margin of safety at the current price. Graham would advise patience and waiting for a better entry point.

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign..

Conclusion: By Graham's standards, this stock is speculative at its current price. The intelligent investor would look elsewhere or wait.

About Wyndham Hotels & Resorts, Inc.

Wyndham Hotels & Resorts, Inc. operates as a hotel franchisor in the United States and internationally. It licenses its lodging brands; and provides related services to third-party hotel owners and others, as well as full-service international managed business services. The company is also involved in the guest loyalty program business. Its hotel brand portfolios include Super 8, Days Inn, Travelodge, Microtel, Howard Johnson, La Quinta, Ramada, Baymont, AmericInn, Wingate, Wyndham Alltra, Wyndham Garden, Ramada Encore, Trademark Collection, TRYP, Wyndham, Wyndham Grand, Dazzler, Esplendor, Dolce, Vienna House, ECHO Suites, Hawthorn, and WaterWalk. Wyndham Hotels & Resorts, Inc. was incorporated in 2017 and is headquartered in Parsippany, New Jersey.

Showing Key Metrics

Income Highlights

Metric	2025	2024	2023	2022	2021
Gross Profit %	N/A •	N/A	58.3%	55.4%	N/A
Operating Margin %	35.6% ▼	39.6%	36.9%	35.0%	N/A
Net Income %	13.5% ▼	20.5%	20.7%	23.7%	N/A
Diluted EPS	2.50 ▼	3.61	3.41	3.91	N/A

Balance Sheet Highlights

Metric	2025	2024	2023	2022	2021
Total Assets	$4.2B	$4.2B	$4.0B	$4.1B	N/A
Total Debt	$2.6B ↑	$2.5B	$2.2B	$2.1B	N/A
Working Capital	-$72M ▼	$1M	-$86M	$139M	N/A
Years to Pay Debt	13.28	8.53	7.63	5.86	N/A

Cash Flow Highlights

Metric	2025	2024	2023	2022	2021
Free Cash Flow	$321M ▲	$241M	$339M	$360M	N/A
Owner Earnings	$301M	$409M	$402M	$471M	N/A
CapEx % of Net Income	23.8%	17.0%	12.8%	11.0%	N/A

Income Statement

	2025	2024	2023	2022	2021
Tax Effect Of Unusual Items	-28,462	-14,190	-4,110	8,134
Tax Rate For Calcs	0	0	0	0
Normalized EBITDA	579,000	634,000	597,000	606,000
Total Unusual Items	-107,000	-66,000	-15,000	32,000
Total Unusual Items Excluding Goodwill	-107,000	-66,000	-15,000	32,000
Net Income From Continuing Operation Net Minority Interest	193,000	289,000	289,000	355,000
Reconciled Depreciation	62,000	71,000	76,000	77,000
Reconciled Cost Of Revenue			582,000	668,000	770,000
EBITDA	472,000	568,000	582,000	638,000
EBIT	410,000	497,000	506,000	561,000
Net Interest Income	-139,000	-124,000	-102,000	-80,000
Interest Expense	147,000	129,000	108,000	85,000
Interest Income	8,000	5,000	6,000	5,000
Normalized Income	271,538	340,810	299,890	331,134
Net Income From Continuing And Discontinued Operation	193,000	289,000	289,000	355,000
Total Expenses	920,000	850,000	882,000	974,000
Total Operating Income As Reported	402,000	495,000	503,000	558,000
Diluted Average Shares	77,200	80,100	84,900	90,800
Basic Average Shares	76,800	79,500	84,400	90,300
Diluted EPS	0	0	0	0
Basic EPS	0	0	0	0
Diluted NI Availto Com Stockholders	193,000	289,000	289,000	355,000
Net Income Common Stockholders	193,000	289,000	289,000	355,000
Net Income	193,000	289,000	289,000	355,000
Net Income Including Noncontrolling Interests	193,000	289,000	289,000	355,000
Net Income Continuous Operations	193,000	289,000	289,000	355,000
Tax Provision	70,000	79,000	109,000	121,000
Pretax Income	263,000	368,000	398,000	476,000
Other Income Expense	-107,000	-66,000	-15,000	32,000
Special Income Charges	-107,000	-66,000	-15,000	32,000
Gain On Sale Of Ppe		0	0	35,000	0
Other Special Charges		3,000	3,000	2,000	18,000
Write Off	86,000	12,000	0	0
Impairment Of Capital Assets			0	0	6,000
Restructuring And Mergern Acquisition	21,000	51,000	12,000	1,000
Net Non Operating Interest Income Expense	-139,000	-124,000	-102,000	-80,000
Interest Expense Non Operating	147,000	129,000	108,000	85,000
Interest Income Non Operating	8,000	5,000	6,000	5,000
Operating Income	509,000	558,000	515,000	524,000
Operating Expense	920,000	850,000	882,000	974,000
Other Operating Expenses	168,000	85,000	107,000	250,000
Depreciation Amortization Depletion Income Statement	62,000	71,000	76,000	77,000
Depreciation And Amortization In Income Statement	62,000	71,000	76,000	77,000
Selling General And Administration	690,000	694,000	699,000	647,000
Selling And Marketing Expense	565,000	564,000	569,000	524,000
General And Administrative Expense	125,000	130,000	130,000	123,000
Other Gand A	125,000	130,000	130,000	123,000
Gross Profit			815,000	830,000	795,000
Cost Of Revenue			582,000	668,000	770,000
Total Revenue	1,429,000	1,408,000	1,397,000	1,498,000
Operating Revenue	1,238,000	1,247,000	1,236,000	1,213,000

Balance Sheet

	2025	2024	2023	2022	2021
Treasury Shares Number	300	24,800	20,700	15,200
Ordinary Shares Number	75,400	78,000	81,400	86,400
Share Issued	75,700	102,800	102,100	101,600
Net Debt	2,496,000	2,360,000	2,135,000	1,916,000
Total Debt	2,563,000	2,466,000	2,205,000	2,081,000
Tangible Book Value	-2,547,000	-2,423,000	-2,358,000	-2,170,000
Invested Capital	3,028,000	3,113,000	2,947,000	3,039,000
Working Capital	-72,000	1,000	-86,000	139,000
Net Tangible Assets	-2,547,000	-2,423,000	-2,358,000	-2,170,000
Capital Lease Obligations	3,000	3,000	4,000	4,000
Common Stock Equity	468,000	650,000	746,000	962,000
Total Capitalization	2,983,000	3,070,000	2,910,000	3,019,000
Total Equity Gross Minority Interest	468,000	650,000	746,000	962,000
Stockholders Equity	468,000	650,000	746,000	962,000
Gains Losses Not Affecting Retained Earnings	3,000	17,000	19,000	38,000
Other Equity Adjustments	3,000	17,000	19,000	38,000
Foreign Currency Translation Adjustments				-3,000	2,000
Treasury Stock	21,000	1,669,000	1,361,000	964,000
Retained Earnings	471,000	654,000	488,000	318,000
Additional Paid In Capital	14,000	1,647,000	1,599,000	1,569,000
Capital Stock	1,000	1,000	1,000	1,000
Common Stock	1,000	1,000	1,000	1,000
Total Liabilities Net Minority Interest	3,714,000	3,573,000	3,287,000	3,161,000
Total Non Current Liabilities Net Minority Interest	3,207,000	3,107,000	2,828,000	2,755,000
Other Non Current Liabilities	201,000	186,000	172,000	189,000
Non Current Deferred Liabilities	491,000	501,000	492,000	509,000
Non Current Deferred Revenue	220,000	169,000	167,000	164,000
Non Current Deferred Taxes Liabilities	271,000	332,000	325,000	345,000
Long Term Debt And Capital Lease Obligation	2,515,000	2,420,000	2,164,000	2,057,000
Long Term Debt	2,515,000	2,420,000	2,164,000	2,057,000
Current Liabilities	507,000	466,000	459,000	406,000
Other Current Liabilities	20,000	18,000	18,000	15,000
Current Deferred Liabilities	134,000	121,000	91,000	83,000
Current Deferred Revenue	134,000	121,000	91,000	83,000
Current Debt And Capital Lease Obligation	48,000	46,000	41,000	24,000
Current Capital Lease Obligation	3,000	3,000	4,000	4,000
Current Debt	45,000	43,000	37,000	20,000
Other Current Borrowings	45,000	43,000	37,000	20,000
Payables And Accrued Expenses	305,000	281,000	309,000	284,000
Current Accrued Expenses	159,000	170,000	193,000	204,000
Interest Payable	9,000	9,000	10,000	9,000
Payables	146,000	111,000	116,000	80,000
Dueto Related Parties Current	1,000	8,000	20,000	3,000
Total Tax Payable	107,000	66,000	64,000	38,000
Accounts Payable	38,000	37,000	32,000	39,000
Total Assets	4,182,000	4,223,000	4,033,000	4,123,000
Total Non Current Assets	3,747,000	3,756,000	3,660,000	3,579,000
Other Non Current Assets	628,000	589,000	468,000	348,000
Goodwill And Other Intangible Assets	3,015,000	3,073,000	3,104,000	3,132,000
Other Intangible Assets	1,490,000	1,548,000	1,579,000	1,607,000
Goodwill	1,525,000	1,525,000	1,525,000	1,525,000
Net PPE	104,000	94,000	88,000	99,000
Accumulated Depreciation	-123,000	-131,000	-300,000	-318,000
Gross PPE	227,000	225,000	388,000	417,000
Leases	2,000	1,000	29,000	30,000
Construction In Progress	15,000	7,000	13,000	9,000
Other Properties			64,000	64,000	64,000
Machinery Furniture Equipment	175,000	182,000	282,000	314,000
Buildings And Improvements	28,000	28,000	0		30,000
Land And Improvements	7,000	7,000	0		0
Current Assets	435,000	467,000	373,000	545,000
Other Current Assets	47,000	49,000	39,000	91,000
Assets Held For Sale Current				0	154,000
Prepaid Assets	33,000	44,000	27,000	59,000
Receivables	291,000	271,000	241,000	234,000
Accounts Receivable	291,000	271,000	241,000	234,000
Allowance For Doubtful Accounts Receivable	-92,000	-61,000	-60,000	-64,000
Gross Accounts Receivable	383,000	332,000	301,000	298,000
Cash Cash Equivalents And Short Term Investments	64,000	103,000	66,000	161,000
Cash And Cash Equivalents	64,000	103,000	66,000	161,000

Cash Flow

	2025	2024	2023	2022	2021
Free Cash Flow	321,000	241,000	339,000	360,000
Repurchase Of Capital Stock	-266,000	-310,000	-393,000	-448,000
Repayment Of Debt	-312,000	-1,578,000	-1,250,000	-409,000
Issuance Of Debt	405,000	1,835,000	1,378,000	400,000
Capital Expenditure	-46,000	-49,000	-37,000	-39,000
End Cash Position	64,000	113,000	66,000	161,000
Beginning Cash Position	113,000	66,000	161,000	171,000
Effect Of Exchange Rate Changes	1,000	-3,000	-3,000	-4,000
Changes In Cash	-50,000	50,000	-92,000	-6,000
Financing Cash Flow	-314,000	-175,000	-402,000	-584,000
Cash Flow From Continuing Financing Activities	-314,000	-175,000	-402,000	-584,000
Net Other Financing Charges	-3,000	-2,000	-10,000	-4,000
Proceeds From Stock Option Exercised	-11,000	2,000	-9,000	-7,000
Cash Dividends Paid	-127,000	-122,000	-118,000	-116,000
Common Stock Dividend Paid	-127,000	-122,000	-118,000	-116,000
Net Common Stock Issuance	-266,000	-310,000	-393,000	-448,000
Common Stock Payments	-266,000	-310,000	-393,000	-448,000
Net Issuance Payments Of Debt	93,000	257,000	128,000	-9,000
Net Long Term Debt Issuance	93,000	257,000	128,000	-9,000
Long Term Debt Payments	-312,000	-1,578,000	-1,250,000	-409,000
Long Term Debt Issuance	405,000	1,835,000	1,378,000	400,000
Investing Cash Flow	-103,000	-65,000	-66,000	179,000
Cash Flow From Continuing Investing Activities	-103,000	-65,000	-66,000	179,000
Net Other Investing Changes	-57,000	-16,000	-29,000	262,000
Net Business Purchase And Sale		0	0	-44,000	0
Purchase Of Business		0	0	-44,000	0
Net PPE Purchase And Sale	-46,000	-49,000	-37,000	-39,000
Purchase Of PPE	-46,000	-49,000	-37,000	-39,000
Operating Cash Flow	367,000	290,000	376,000	399,000
Cash Flow From Continuing Operating Activities	367,000	290,000	376,000	399,000
Change In Working Capital	62,000	-52,000	38,000	43,000
Change In Other Working Capital	62,000	36,000	10,000	22,000
Change In Other Current Assets	-1,000	2,000	37,000	-3,000
Change In Payables And Accrued Expense	38,000	-33,000	-4,000	14,000
Change In Payable	38,000	-33,000	-4,000	14,000
Change In Account Payable	38,000	-33,000	-4,000	14,000
Change In Prepaid Assets	11,000	-18,000	5,000	-6,000
Change In Receivables	-48,000	-39,000	-10,000	16,000
Changes In Account Receivables	-48,000	-39,000	-10,000	16,000
Other Non Cash Items	-109,000	-86,000	-55,000	-35,000
Stock Based Compensation	43,000	45,000	39,000	33,000
Provisionand Write Offof Assets	87,000	4,000	3,000	-2,000
Asset Impairment Charge	86,000	12,000	0	0
Deferred Tax	-57,000	4,000	-17,000	-39,000
Deferred Income Tax	-57,000	4,000	-17,000	-39,000
Depreciation Amortization Depletion	62,000	71,000	76,000	77,000
Depreciation And Amortization	62,000	71,000	76,000	77,000
Amortization Cash Flow		27,000	27,000	31,000	38,000
Amortization Of Intangibles		27,000	27,000	31,000	38,000
Depreciation		44,000	49,000	46,000	57,000
Operating Gains Losses		3,000	3,000	-33,000	18,000
Net Income From Continuing Operations	193,000	289,000	289,000	355,000

These metrics estimate what Wyndham Hotels & Resorts, Inc. is worth based on its fundamentals — independent of what the market currently prices it at. Graham's Fair Value and NCAV are conservative floors rooted in 1930s–60s principles. EPV assumes zero growth. None are price targets — they are reference points for judging whether the current price offers a margin of safety.

Graham's Fair Value

$18.75

Margin of Safety

Market Cap ÷ Company Value

6.37

P/B Ratio

12.83

Warren's Owner Earnings

$301M

Latest fiscal year

Graham's 7 Criteria

Defensive Investor Checklist

2/7 — Speculative Investor

❌ Adequate Size

$1.4B

vs > $1.5B revenue

❌ Strong Financial Condition

0.86x

vs Current Ratio > 2.0x

✅ Earnings Stability

No loss years (4 yrs data)

vs No negative EPS years

✅ Dividend Record

2.05%

vs Uninterrupted dividends

❌ Earnings Growth

-36.1% EPS growth

vs > 33% EPS growth

❌ Moderate P/E Ratio

31.8x

vs P/E ≤ 15.0x

❌ Moderate Price-to-Book

12.83x P/B (P/E×P/B: 408.5)

vs P/B ≤ 1.5x | P/E × P/B ≤ 22.5

Net Current Asset Value

$-43.80

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign.

"Buy at two-thirds of net current assets." — Graham

Earnings Power Value

$75.55

Per share, no-growth floor. Compare to current price.

Cash Flow Analysis

Metric	2025	2024	2023	2022	2021
Capital Expenditure % of Net Income	23.8%	17.0%	12.8%	11.0%	N/A
Repurchase of Capital Stock	-$266M	-$310M	-$393M	-$448M	N/A
Free Cash Flow	$321M ▲	$241M ▼	$339M ▼	$360M •	N/A •
Warren's Owner Earnings	$301M	$409M	$402M	$471M	N/A

Peers & Industry

No auto-detected peers for Lodging. You can manually compare WH against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

2.44%

Low — management has little skin in the game

Return on Equity (ROE)

41.2%

Excellent — management generates strong returns on equity

Return on Assets (ROA)

4.6%

Fair — average asset utilization

Share Buybacks (Latest Year)

$266M

Management is returning capital to shareholders via buybacks

Debt Trend YoY

+3.9% YoY

Debt is roughly stable

Leadership Team

Geoffrey Ballotti

President, CEO & Director

Age 63

Pay: $1,551,882

0.804% of net income

Amit Sripathi

Chief Financial Officer

Matt Capuzzi

Senior Vice President of Investor Relations

Dimitris Manikis

President of Europe, Middle East, Eurasia & Africa

Joon Aun Ooi

President of Asia Pacific

Top Institutional Holders

Institution	% Owned	Shares
Capital Research Global Investors	10.93%	8,205,818
Vanguard Group Inc	9.80%	7,354,828
Blackrock Inc.	9.66%	7,247,511
T. Rowe Price Investment Management, Inc.	6.91%	5,188,239
Boston Partners	3.97%	2,977,029
NORGES BANK	3.87%	2,904,478
Morgan Stanley	3.83%	2,872,466
Bank of Montreal /CAN/	3.41%	2,562,843

⚠️ Very high debt-to-equity — leverage risk

⚠️ Current ratio below 1 — liquidity risk

Risk Analysis

Beta (Market Risk)

0.65

Low volatility — more stable than the market

Short Interest

9.2% of float

Moderate short interest

Debt-to-Equity

5.93x

High leverage — significant financial risk

Current Ratio

0.98x

Weak liquidity — current liabilities exceed current assets

52-Week Price Range

Low: $69.21 Current: $80.22 High: $92.69

Currently at 47% of 52-week range

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