Hilton Grand Vacations Inc. HGV
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.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 0.90 | 0.46 | 2.84 | 2.98 | 1.77 | -2.36 | 2.43 | 3.07 | 3.30 | 1.70 |
| EPS, diluted | 0.89 | 0.45 | 2.80 | 2.93 | 1.75 | -2.36 | 2.42 | 3.05 | 3.28 | 1.70 |
| Shares, diluted (wtd. avg.) | $91.5M | $103.1M | $111.6M | $119.6M | $101.1M | $85.0M | $89.3M | $97.9M | $99.6M | $99.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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.
Others in SIC 7000
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| TH | Target Hospitality Corp. | $1.94B | — | 3.4% |
| CVEO | Civeo Corp | $352.9M | — | -6.3% |