Hilton Grand Vacations Inc. HGV

Consumer discretionary SIC 7000 - Hotels, Rooming Houses, Camps & Other Lodging Places NAICS Accommodation and Food Services › Accommodation derived NYSE

On January 3, 2017, HGV became an independent publicly traded company as a result of Hilton Worldwide Holdings Inc.'s ("Hilton") tax-free spin-off of each of HGV and Park Hotels & Resorts Inc. ("Park"). HGV's common stock is listed on the New York Stock Exchange under the symbol "HGV." Following the spin-off, Hilton did not retain any ownership in HGV. In connection with the spin-off, we entered into agreements with Hilton and other third parties, including licenses to use the Hilton Grand Vacations brand. For more information regarding these agreements, see "—Business—Agreements with Hilton Worldwide Holdings."

On August 2, 2021, we completed the acquisition of Dakota Holdings, Inc. ("Diamond"), the parent of Diamond Resorts International (the "Diamond Acquisition"), by exchanging 100% of the outstanding equity interests of Diamond for shares of HGV common stock. As a result of the Diamond Acquisition, certain funds controlled by Apollo Global Management Inc. ("Apollo") and other minority shareholders, which previously owned 100% of Diamond, held 28% of HGV's common stock at the time the Diamond Acquisition was completed.

Last close 35.89 2026-10-23
Market cap $2.79B 2026-06-30 share count
52-week range 33.98 - 55.40

Valuation FY2025 figures against the last close

P/S0.6x
P/E40.3x
P/FCF12.1x
EV/EBITDA—
Dividend yield—
Diluted EPS0.89

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Real estate and financing
  • Resort Operations and Club Management
Revenue by segment, 2 categories over 3 years. The same figures are in the table below. FY2025 Real estate and financing, FY2025: 3B (66.2%) 66% Real estate and financing Resort Operations and Club Management, FY2025: 1.5B (33.8%) 34% Resort Operations and Club Management FY2024 Real estate and financing, FY2024: 3B (67.4%) 67% Resort Operations and Club Management, FY2024: 1.5B (32.6%) 33% FY2023 Real estate and financing, FY2023: 2.4B (65.6%) 66% Resort Operations and Club Management, FY2023: 1.2B (34.4%) 34%
Segment FY2025FY2024FY2023
Real estate and financing $2.99B $3.01B $2.36B
Resort Operations and Club Management $1.52B $1.46B $1.24B

As the company reported it, from the “REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Disaggregated Revenues by Segment from Contracts with Customers (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $4.51B$4.46B$3.59B$3.54B$2.33B$894.0M$1.84B$2.00B$1.71B$1.58B
SG&A $215.0M$199.0M$194.0M$212.0M$151.0M$92.0M$118.0M$120.0M$104.0M$92.0M
Total operating expenses $4.59B$4.52B$3.37B$3.22B$1.95B$1.14B$1.52B$1.56B$1.37B$1.26B
Interest expense $311.0M$329.0M$178.0M$142.0M$105.0M$43.0M$43.0M$30.0M$27.0M$3.0M
Pre-tax income $175.0M$136.0M$449.0M$481.0M$269.0M-$280.0M$273.0M$403.0M$311.0M$293.0M
Income tax $76.0M$76.0M$136.0M$129.0M$93.0M$79.0M$57.0M$105.0M$16.0M$125.0M
Net income $81.0M$47.0M$313.0M$352.0M$176.0M-$201.0M$215.7M$298.1M$326.8M$167.6M
EPS, basic 0.900.462.842.981.77-2.362.433.073.301.70
EPS, diluted 0.890.452.802.931.75-2.362.423.053.281.70
Shares, diluted (wtd. avg.) 91.5M103.1M111.6M119.6M101.1M85.0M89.3M97.9M99.6M99.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $239.0M$328.0M$589.0M$555.0M$695.0M$526.0M$152.0M$180.0M$297.0M$151.0M
Receivables $270.0M$315.0M$507.0M$511.0M$302.0M$119.0M$174.0M$153.0M——
Property, plant and equipment $859.0M$792.0M$758.0M$798.0M$756.0M$501.0M$778.0M$559.0M$238.0M$256.0M
Goodwill $1.99B$1.99B$1.42B$1.42B$1.38B$0————
Other intangibles $1.67B$1.79B$1.16B$1.28B$1.44B$81.0M$77.0M$81.0M$72.0M$70.0M
Total assets $11.54B$11.44B$8.69B$8.00B$8.01B$3.13B$3.08B$2.75B$2.38B$2.18B
Long-term debt $4.54B$4.60B$3.05B$2.65B$2.91B$1.16B$828.0M$604.0M$482.0M$490.0M
Total liabilities $10.10B$9.55B$6.57B$5.85B$6.02B$2.76B$2.51B$2.14B$1.87B$2.01B
Retained earnings $34.0M$352.0M$593.0M$529.0M$357.0M$181.0M$390.0M$441.0M$355.0M$28.0M
Total equity $1.29B$1.75B$2.12B$2.15B$1.99B$374.0M$570.0M$616.0M$518.0M$167.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $300.0M$309.0M$312.0M$747.0M$168.0M$79.0M$143.0M-$164.0M$356.0M$182.0M
Depreciation and amortisation $273.0M$268.0M$213.0M$244.0M$126.0M$45.0M$44.0M$33.0M$29.0M$24.0M
Stock-based compensation $64.0M$47.0M$40.0M$46.0M$48.0M$15.0M$22.0M$16.0M$15.0M$0
Capital expenditure $70.0M$42.0M$31.0M$58.0M$18.0M$8.0M$37.0M$44.0M$35.0M$26.0M
Investing cash flow -$146.0M-$1.57B-$158.0M-$97.0M-$1.63B-$33.0M-$63.0M-$57.0M-$87.0M-$34.0M
Financing cash flow -$338.0M$1.16B$183.0M-$782.0M$1.64B$328.0M-$108.0M$104.0M-$123.0M-$76.0M
Buybacks $600.0M$432.0M$368.0M$272.0M$0$10.0M$283.0M$183.0M——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001674168-26-000017.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B 6B Revenue, FY2016: 1.6B Net income, FY2016: 167.6M Revenue, FY2017: 1.7B Net income, FY2017: 326.8M Revenue, FY2018: 2B Net income, FY2018: 298.1M Revenue, FY2019: 1.8B Net income, FY2019: 215.7M Revenue, FY2020: 894M Net income, FY2020: -201M Revenue, FY2021: 2.3B Net income, FY2021: 176M Revenue, FY2022: 3.5B Net income, FY2022: 352M Revenue, FY2023: 3.6B Net income, FY2023: 313M Revenue, FY2024: 4.5B Net income, FY2024: 47M Revenue, FY2025: 4.5B Net income, FY2025: 81M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.58B $1.71B $2.00B $1.84B $894.0M $2.33B $3.54B $3.59B $4.46B $4.51B
Gross profit — — — — — — — — — —
Net income $167.6M $326.8M $298.1M $215.7M -$201.0M $176.0M $352.0M $313.0M $47.0M $81.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Material agreement signed Item 1.01
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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