Accor SA (ACCYY) AI Stock Analysis

• Market Cap: $12.40B
• Dividend Yield: 2.56%
• Average Volume (3M): 2.46K
• Price to Earnings (P/E): 30.8
• Beta (1Y): 1.11
• Revenue Growth: 7.02%
• EPS Growth: -5.37%
• Country: US
• Employees: 19,423
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Travel Lodging
• EPS (TTM): 0.20
• Shares Outstanding: 1,173,536,600
• 10 Day Avg. Volume: 2,336
• 30 Day Avg. Volume: 2,463
• PEG Ratio: -0.88
• Price to Book (P/B): 3.10
• Price to Sales (P/S): 2.36
• P/FCF Ratio: 21.70
• Enterprise Value/Market Cap: 1.11
• Enterprise Value/Revenue: 2.44
• Enterprise Value/Gross Profit: 4.60
• Enterprise Value/Ebitda: 11.91
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.54
• Revenue Forecast (FY): $7.00B

• Rating: 62 Neutral
• Price Target: $10.50 ▼(-6.91% Downside)
• Action: Downgraded Date: 03/01/26
• Date: Action: Downgraded 03/01/26

The score is driven primarily by steady but mixed fundamentals: strong post-pandemic profitability and positive free cash flow are tempered by a latest-year growth/earnings slowdown and higher leverage. Technicals are supportive (uptrend and positive MACD), while valuation is a headwind due to the high P/E despite a moderate dividend yield.

Positive Factors

Asset-light, diversified model

Accor’s asset-light model and broad brand portfolio (economy to luxury) generate recurring management and franchise fees. This reduces capital intensity, enhances scalability and margin stability, and diversifies revenue across geographies and owner-partners for durable cash generation.

Recovered profitability & margins

Net and EBIT margins normalized post-pandemic (EBIT margins ~11%–18%; net margins ~9%–13%), reflecting structural operating leverage and improved cost control. Sustained margins support resilience through cycles and provide a stronger base for fee-based earnings over the medium term.

Consistent positive free cash flow

Consistent and improving free cash flow since 2022 gives Accor enduring financial flexibility to reinvest in distribution and loyalty, pay down debt, and fund shareholder returns. Reliable FCF underpins long-term balance-sheet repair and supports strategic initiatives.

Negative Factors

Rising leverage

Leverage increased materially to about 1.0 debt/equity, reducing financial flexibility. Higher debt raises interest and refinancing risk, limits capital allocation choices, and makes the business more vulnerable to a cyclical downturn in travel demand or rising rates over the medium term.

Latest-year revenue & earnings slowdown

A sharp slowdown in 2025—flat revenue and weaker net income—signals possible demand or pricing pressure. If sustained, weaker top-line growth will reduce fee income growth, compress margins and slow recovery of returns, challenging medium-term earnings momentum.

Moderate cash conversion & low coverage

FCF trailing net income and modest operating cash versus debt implies limited capacity to rapidly deleverage. Slower cash conversion constrains investment, dividends and debt reduction, leaving Accor more exposed to shocks or interest-cost increases in the medium term.

Accor SA Business Overview & Revenue Model

Company Description

Accor SA operates a chain of hotels. It operates through two segments, HotelServices, and Hotel Assets & Other. The company owns, operates, manages, and franchises hotels. It also provides digital services to independent hotel operators through D-edge platform; ResDiary, a flat-rate online table reservation system that is designed for restaurant owners; Gekko solutions, including digital hotel distribution and loyalty platforms for the travel industry and large companies; and concierge and customized services through John Paul, as well as hotel booking services; and other services in events, fine dining, and entertainment through Paris Society and Potel & Chabot platforms. In addition, the company offers distribution activities, such as private sales of hotel accommodation and luxury vacations through VeryChic platform; rental of private residences operated by onefinestay; and coworking spaces through Wojo and Mama Works. Further, it provides hotel management, procurement, cash management, IT, and advertising services, as well as various advisory services. As of December 31, 2021, the company operated 5,298 hotels with 777,714 rooms in 110 countries worldwide. The company was founded in 1967 and is headquartered in Issy-les-Moulineaux, France.

How the Company Makes Money

Accor SA generates revenue primarily through hotel management and franchising fees, which are derived from the operation of hotels and the management of hotel brands under its portfolio. The company earns fees based on a percentage of hotel revenues and profits from properties it manages or franchises. Additionally, Accor benefits from ancillary services such as food and beverage sales, event hosting, and loyalty programs that attract repeat customers. Strategic partnerships with travel agencies, online booking platforms, and other travel service providers also contribute to its revenue streams. The company has been expanding its footprint through acquisitions and partnerships, enhancing its market presence and driving earnings growth.

Accor SA Financial Statement Overview

Summary

Profitability and margins recovered strongly post-2021 with solid net and EBIT margins and consistently positive free cash flow since 2022. Offsetting this, the latest year shows a clear slowdown (flat/negative revenue growth and lower net income/margin) and balance-sheet leverage has increased (debt-to-equity ~1.0), reducing flexibility if demand softens.

Income Statement

Profitability has largely normalized after the 2020–2021 disruption: net profit margin improved from deeply negative in 2020 to solidly positive in 2022–2024 (roughly 9%–13%), with healthy operating profitability in 2022–2025 (EBIT margin ~11%–18%). Gross margin expanded materially in 2023–2025, supporting earnings quality. The key weakness is the sharp slowdown in the most recent year, with 2025 revenue essentially flat versus 2024 and showing a large negative growth rate in the data, alongside a meaningful step-down in net income and net margin versus 2024.

Balance Sheet

Leverage is moderate-to-elevated for the profile: debt is roughly in line with equity in 2025 (debt-to-equity ~1.0), up from ~0.68–0.86 in 2022–2024, indicating incremental balance-sheet risk. Equity remains sizable relative to assets, but the rising debt load reduces flexibility if lodging demand softens. Returns to shareholders were healthy in 2022–2024, but the 2025 return measure is reported as 0.0, limiting confidence in the latest-year return trend.

Cash Flow

Cash generation is positive and improving from the 2020–2021 trough: operating cash flow and free cash flow have been consistently positive since 2022, and 2025 shows strong free cash flow growth versus 2024. However, cash conversion versus earnings is only moderate (free cash flow below net income in recent years), and operating cash flow is relatively small versus the debt balance (low coverage), which can constrain deleveraging speed in a weaker cycle.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.64B	5.61B	5.06B	4.22B	2.20B
Gross Profit	2.98B	2.74B	1.06B	1.82B	601.00M
EBITDA	1.15B	1.33B	904.00M	675.00M	22.00M
Net Income	431.28M	610.00M	633.00M	402.00M	50.00M
Balance Sheet
Total Assets	11.74B	12.06B	11.27B	11.71B	10.77B
Cash, Cash Equivalents and Short-Term Investments	1.21B	1.38B	1.28B	1.66B	1.67B
Total Debt	4.30B	3.74B	3.37B	4.34B	4.55B
Total Liabilities	7.03B	6.59B	5.96B	7.26B	7.17B
Stockholders Equity	4.29B	5.03B	4.93B	5.06B	4.28B
Cash Flow
Free Cash Flow	613.00M	440.00M	415.00M	385.00M	-343.00M
Operating Cash Flow	810.00M	733.00M	669.00M	496.00M	-263.00M
Investing Cash Flow	-331.00M	-358.00M	16.00M	-157.00M	-99.00M
Financing Cash Flow	-494.00M	-400.00M	-1.04B	-381.00M	-431.00M

Accor SA Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 11.28
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ACCYY, the sentiment is Negative. The current price of 11.28 is below the 20-day moving average (MA) of 11.39, above the 50-day MA of 11.19, and above the 200-day MA of 10.54, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 29.28 is Positive, neither overbought nor oversold. The STOCH value of 23.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ACCYY.

Accor SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HTHT	74 Outperform	$16.09B	14.58	32.28%	3.60%	5.70%	9.53%
IHG	71 Outperform	$19.82B	28.95	―	1.21%	8.89%	23.20%
HLT	69 Neutral	$70.15B	46.53	―	0.21%	6.68%	48.03%
H	68 Neutral	$15.46B	-294.43	-1.51%	0.36%	2.61%	-106.74%
MAR	68 Neutral	$89.01B	32.03	―	0.84%	4.68%	-1.10%
ACCYY	62 Neutral	$12.40B	30.85	15.48%	2.56%	7.02%	-5.37%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%