# Wyndham Hotels & Resorts, Inc. (WH)

> Source: Nexqual · https://nexqual.com/WH · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Wyndham Hotels & Resorts, Inc. (WH), nexqual.com/WH" · informational, not investment advice.

**Price:** USD 75.07 (-4.20% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 78.36 · day 74.47–79.82 · 52w 66.87–90.35 · market cap $5.57B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.42B, net income $208M (14.7% margin), free cash flow $323M (SEC filings).
- Valuation: P/E 26.8x (avg 27.2x at the last 3 fiscal year-ends), EV/EBITDA 16.6x, net debt $2.61B.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $4.9M; 1 not under a Rule 10b5-1 plan ($601K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.94 on a 1–5 scale) (18 analysts), mean target USD 96 (range 80–115).
- Total return with dividends: 1Y +1.0% vs S&P 500 +14.9%; 5Y +0.8% vs S&P 500 +80.3%.
- Next earnings: 2026-10-21, EPS estimate USD 1, revenue estimate $371M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.56B | $1.50B | $1.40B | $1.41B | $1.43B | $1.42B |
| Operating income | $446M | $558M | $503M | $495M | $402M | $430M |
| Net income | $244M | $355M | $289M | $289M | $193M | $208M |
| EPS (diluted) | $2.60 | $3.91 | $3.41 | $3.61 | $2.50 | — |
| Free cash flow | $389M | $360M | $339M | $241M | $321M | $323M |
| Operating margin | 28.5% | 37.2% | 36.0% | 35.2% | 28.1% | 30.3% |
| Net margin | 15.6% | 23.7% | 20.7% | 20.5% | 13.5% | 14.7% |
| Revenue growth | +20.4% | -4.3% | -6.7% | +0.8% | +1.5% | — |
| Cash + short-term investments | $171M | $161M | $66.0M | $103M | $64.0M | — |
| Total debt | $2.08B | $2.08B | $2.20B | $2.46B | $2.56B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 26.8x · P/S 3.9x · EV/EBITDA 16.6x · EV/Sales 5.8x · P/FCF 17.2x · P/B 11.6x · FCF yield 5.80% · Earnings yield 3.73% · Dividend yield (paid, TTM) 2.30% · Buyback yield (TTM) 3.95% · Net debt $2.61B · EV $8.18B
P/E at fiscal year-ends: Dec 2025 30.2x, Dec 2024 27.9x, Dec 2023 23.6x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
3 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-15 | Ballotti Geoffrey A | President and CEO | 19,295 | $1.4M | 3.4% | Yes (adopted March 11, 2026) | Too little history (no open-market trades in 2023) |
| 2026-08-17 | Ballotti Geoffrey A | President and CEO | 19,414 | $1.4M | 3.4% | Yes (adopted March 11, 2026) | Too little history (no open-market trades in 2023) |
| 2026-06-15 | Ballotti Geoffrey A | President and CEO | 18,516 | $1.5M | 3.3% | Yes (adopted March 11, 2026) | Too little history (no open-market trades in 2023) |
| 2026-05-07 | Rossi Nicola | Chief Accounting Officer | 7,055 | $601K | 68.8% | No | Too little history (no open-market trades in 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.94 on a 1–5 scale), 18 analysts; mean target USD 96 (low 80, high 115).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Morgan Stanley | Target raised | Overweight | $92 → $97 |
| 2026-10-22 | Stifel | Target raised | Buy | $98 → $99 |
| 2026-10-14 | Freedom Broker | Initiated | Buy | $88 |
| 2026-10-12 | Morgan Stanley | Target raised | Overweight | $91 → $92 |
| 2026-09-10 | Truist Securities | Target lowered | Buy | $107 → $104 |
| 2026-08-18 | Morgan Stanley | Target lowered | Overweight | $93 → $91 |
| 2026-08-11 | Susquehanna | Target lowered | Neutral | $90 → $80 |
| 2026-07-21 | JP Morgan | Target lowered | Overweight | $100 → $97 |
| 2026-07-21 | Barclays | Target lowered | Overweight | $104 → $102 |
| 2026-07-17 | Morgan Stanley | Target raised | Overweight | $89 → $93 |
| 2026-07-16 | Wells Fargo | Target raised | Equal-Weight | $96 → $98 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +1.0% | +0.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +1.0% | +0.2% |
| Volatility (annualized) | 30.2% | 26.6% |
| Max drawdown | -24.4% (Apr 2026→Sep 2026) | -35.4% (Feb 2025→Sep 2026) |

## Peers (Lodging)
CHH (Choice Hotels International, In) USD 111.98 -1.48% · ATAT (Atour Lifestyle Holdings Limite) USD 32.58 -1.75% · HTHT (H World Group Limited) USD 46.31 +1.18% · H (Hyatt Hotels Corporation) USD 176.96 -0.92% · IHG (Intercontinental Hotels Group) USD 167.78 -1.81% · HLT (Hilton Worldwide Holdings Inc.) USD 358.07 -1.15%

## More
Full page: https://nexqual.com/WH · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in WH's own 10-K filed 2026-02-19 (https://www.sec.gov/Archives/edgar/data/1722684/000172268426000007/wh-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Sabre Corp (SABR) | "We rely on information technologies and systems to operate our business, which involves reliance on third-party service providers (including cloud-based service providers), such as Sabre Corporation and its SynXis Platfo…" |
| Supplier | Salesforce (CRM) | "We rely on information technologies and systems to operate our business, which involves reliance on third-party service providers (including cloud-based service providers), such as Sabre Corporation and its SynXis Platfo…" |
| Supplier | Oracle (ORCL) | "We rely on information technologies and systems to operate our business, which involves reliance on third-party service providers (including cloud-based service providers), such as Sabre Corporation and its SynXis Platfo…" |

## Revenue by product line (quarter ended 2026-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Marketing, reservation and loyalty | $158.0M | 38.5% | +6.0% |
| Royalties and franchise fees | $156.0M | 38.0% | +6.1% |
| Marketing and reservation fees | $135.0M | 32.9% | +5.5% |
| Other | $52.0M | 12.7% | +6.1% |
| License and other fees | $36.0M | 8.8% | +2.9% |
| Partnership fees | $27.0M | 6.6% | +12.5% |
| Other Products and Services Excluding Partnership Fees | $25.0M | 6.1% | +0.0% |
| Deferred loyalty program revenues | $23.0M | 5.6% | +9.5% |
| Management and other fees | $8.0M | 2.0% | +300.0% |
| Owned Hotel Revenues | $6.0M | 1.5% | — |
| Deferred initial franchise fee revenues | $5.0M | 1.2% | +25.0% |
| Management fees | $2.0M | 0.5% | +0.0% |
| Total revenue | $410.0M | 100% | — |
The lines above cover 154.4% of total revenue.

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $1.13B | 79.4% | +0.8% |
| Non Us | $295.0M | 20.6% | +4.2% |
| Total revenue | $1.43B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $1.00 | $1.01 | -0.5% | $370.6M | 15 |
| Next quarter (ends 2027-03-31) | $1.03 | $1.01 | +2.2% | $346.2M | 11 |
| Current fiscal year (ends 2026-12-31) | $4.85 | $4.79 | +1.3% | $1.48B | 18 |
| Next fiscal year (ends 2027-12-31) | $5.34 | $5.35 | -0.2% | $1.57B | 18 |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 34.6% | ±7.9% |
| 2026-12-18 | 56 | 30.5% | ±9.8% |
| 2027-02-19 | 119 | 34.2% | ±15.7% |
| 2027-05-21 | 210 | 34.9% | ±21.1% |