  We propose that a broad class of excited-state quantum phase transitions
(ESQPTs) gives rise to two different excited-state quantum phases. These phases
are identified by means of an operator, $\hat{\mathcal{C}}$, which is a
constant of motion only in one of them. Hence, the ESQPT critical energy splits
the spectrum into one phase where the equilibirium expectation values of
physical observables crucially depend on this constant of motion, and another
phase where the energy is the only relevant thermodynamic magnitude. The
trademark feature of this operator is that it has two different eigenvalues,
$\pm1$, and therefore it acts as a discrete symmetry in the first of these two
phases. This scenario is observed in systems with and without an additional
discrete symmetry; in the first case, $\hat{\mathcal{C}}$ explains the change
from degenerate doublets to non-degenerate eigenlevels upon crossing the
critical line. We present stringent numerical evidence in the Rabi and Dicke
models, suggesting that this result is exact in the thermodynamic limit, with
finite-size corrections that decrease as a power-law.
