AC FINANCIAL STATEMENTS

Accor S. A. — balance sheet, income statement and cash flow trends

ACAccor S. A.

🇫🇷 France · PA · Consumer Cyclical · Lodging

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q2 2025 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue5.6 B €+11.5%

Gross Profit3 B €+31.1%

Operating Income870 M €+20.2%

EBITDA1.2 B €+16.7%

Net Income449 M €-23.6%

Peer Comparison· Lodging

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
AC	0.6%	52.9%	21.3%	8.0%
H	93.6%	17.6%	11.8%	-0.5%
IHG	5.4%	30.7%	26.0%	14.6%
WH	1.6%	55.7%	33.8%	13.4%
CHH	1.2%	44.5%	38.7%	21.5%
HLT	8.7%	44.3%	24.5%	12.6%
Industry median	2.0%	44.3%	24.5%	9.7%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
AC	0.6%	52.9%	21.3%	8.0%
STLAP	-2.1%	-2.7%	-9.9%	-14.5%
ML	-4.4%	27.0%	17.9%	6.4%
KER	-14.7%	72.6%	25.0%	0.5%
RNO	3.0%	19.1%	-10.1%	-18.9%
Industry median	2.0%	44.3%	24.5%	9.7%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q2 2025

Equity4.3 B €38%
Current Liabilities2.8 B €25%
Long-term Liabilities4.3 B €38%

Key Figures

YoY change

Total Assets11.7 B €+4.2%

Total Liabilities7 B €+1.0%

Total Equity4.3 B €+9.0%

Cash & ST Investments1.2 B €-4.5%

Total Debt4.3 B €-1.7%

Net Debt3.1 B €+0.1%

Peer Comparison· Lodging

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
AC	1.05	100.3%	2.55	36.5%
H	0.60	139.8%	5.25	23.2%
IHG	0.97	-181.9%	2.86	-51.3%
WH	0.33	847.2%	7.63	10.5%
CHH	0.95	1,535.1%	3.32	4.7%
HLT	0.61	-221.1%	4.14	-36.0%
Industry median	0.68	7.1%	3.56	32.8%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
AC	1.05	100.3%	2.55	36.5%
STLAP	1.02	85.8%	-0.96	27.4%
ML	1.90	36.6%	0.57	51.6%
KER	1.34	160.5%	5.25	35.7%
RNO	1.03	331.6%	-8.52	17.2%
Industry median	0.68	7.1%	3.56	32.8%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q2 2025 · TTM

Key Figures

YoY change

Operating Cash Flow821 M €+19.5%

Capital Expenditures240 M €-5.5%

Free Cash Flow579 M €+33.7%

Dividends Paid-327 M €-205.1%

Peer Comparison· Lodging

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
AC	14.6%	10.3%	4.3%	182.9%
H	4.4%	1.0%	3.4%	-811.8%
IHG	17.3%	16.8%	0.5%	118.2%
WH	24.3%	21.1%	3.2%	181.3%
CHH	14.1%	15.3%	8.1%	65.6%
HLT	18.7%	17.6%	1.1%	148.8%
Industry median	14.6%	16.8%	6.3%	132.5%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 3, 26. This content is for informational purposes only and is not investment advice.