Wyndham Hotels & Resorts, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Earnings Per Share

Earnings Per Share

12 Months Ended

Dec. 31, 2025


4. EARNINGS PER SHARE

The computation of basic and diluted earnings per share (“EPS”) is based on net income divided by the basic weighted average number of common shares and diluted weighted average number of common shares, respectively.

The following table sets forth the computation of basic and diluted EPS (in millions, except per-share data) for the years ended December 31:


	2025		2024		2023
Net income	$	193	$	289	$	289

Basic weighted average shares outstanding	76.8		79.5		84.4
Stock options and restricted stock units (“RSUs”) (a)	0.4		0.6		0.5
Diluted weighted average shares outstanding	77.2		80.1		84.9

Earnings per share:
Basic	$	2.51	$	3.64	$	3.43
Diluted	2.50		3.61		3.41

Dividends:
Cash dividends declared per share	$	1.64	$	1.52	$	1.40
Aggregate dividends paid to stockholders	$	127	$	122	$	118

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(a) Diluted shares outstanding exclude shares related to stock options which were immaterial for 2025, 2024 and 2023. Diluted shares outstanding exclude shares related to PSUs of 0.1 million for 2025. Such PSUs were immaterial during 2024 and 2023. Diluted shares outstanding exclude shares related to RSUs of 0.2 million, 0.3 million and 0.4 million for 2025, 2024 and 2023, respectively. Such options, PSUs and RSUs were excluded as their effect would have been anti-dilutive under the treasury stock method.

Stock Repurchase Program

The following table summarizes stock repurchase activity under the current stock repurchase program (in millions, except per share data):


	Shares	Cost		Average Price Per Share
As of December 31, 2024	24.8	$	1,669	$	67.32
For the twelve months ended December 31, 2025	3.1	266		85.73
As of December 31, 2025	27.9	$	1,935	$	69.37

The Company had $274 million of remaining availability under its program as of December 31, 2025.

In the fourth quarter of 2025, the Company retired 28 million treasury stock shares with a cost of $1.9 billion which reduced additional paid-in capital and retained earnings by $1.7 billion and $0.2 billion, respectively.