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Wyndham Hotels & Resorts, Inc. WH Deferred loyalty program revenue — Other Non-Current Liabilities

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Other financials

Income statement

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Revenue$375.0M-5.5%
Operating income$174.0M+16.0%
Net income$102.0M+17.2%
EPS (diluted)$1.36+20.4%

Balance sheet

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Cash & equivalents$89.0M+78.0%
Total debt$2.7B+2.9%
Total equity$480.0M-15.8%
Total assets$4.3B+0.8%

Cash flow

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Operating cash flow$91.0M+30.0%
CapEx$14.0M+16.7%
Free cash flow$77.0M+32.8%

Valuation

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Market cap$5.58B-14.5%
Enterprise value$8.19B-10.0%
P/E15.7×-5.9×
P/S3.9×-0.6×

Profitability

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Operating margin32.9%-5.9pp
Net margin23.5%+5.3pp
FCF margin22.8%+2.8pp

Returns & leverage

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Return on equity58%+22.8pp
Debt / equity5.6×+1.0×
Current ratio0.0×

Where this comes from

Reported directly by Wyndham Hotels & Resorts, Inc. in its filing.

Tagged under the XBRL concept us-gaap:OtherLiabilitiesNoncurrent.

The source filing: Wyndham Hotels & Resorts, Inc.’s 10-K, filed February 19, 2026.

Filed
Feb 19, 2026, 1:23 PM EST
Fiscal year
FY2025
Accession
0001722684-26-000007

As members earn points through the loyalty program, the Company records a liability for the estimated future redemption costs, which is calculated based on (i) an estimated cost per point and (ii) an estimated redemption rate of the overall points earned, which is determined with the assistance of a third-party actuarial firm through historical experience, current trends and the use of an actuarial analysis. The Company estimates the value of the future redemption obligations by projecting the timing of future point redemptions based on historical levels, including an estimate of the points that will expire or never be redeemed, and an estimate of the points members will eventually redeem. The recorded liability related to the program totals $118 million and $105 million as of December 31, 2025 and 2024, respectively, of which $73 million and $65 million, respectively, are included in accrued expenses and other current liabilities, and $45 million and $40 million, respectively, are included in other non-current liabilities on the Company’s Consolidated Balance Sheets.

Item 16. Form 10-K Summary.

FAQ

What is Wyndham Hotels & Resorts, Inc.'s deferred loyalty program revenue — other non-current liabilities?
Wyndham Hotels & Resorts, Inc. (WH) reported deferred loyalty program revenue — other non-current liabilities of $45M in Q4 2025.
How has Wyndham Hotels & Resorts, Inc.'s deferred loyalty program revenue — other non-current liabilities changed year-over-year?
Wyndham Hotels & Resorts, Inc.'s deferred loyalty program revenue — other non-current liabilities increased by 12.5% year-over-year, from $40M to $45M.
What does deferred loyalty program revenue — other non-current liabilities mean?
This metric represents the long-term portion of the loyalty program liability that is not expected to be settled within the upcoming fiscal year. It provides insight into the long-term engagement of the customer base and the sustained future obligation the company carries for its loyalty program members.

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