Hilton Worldwide Holdings Inc. HLT
Hilton is one of the largest global hospitality companies, with 9,158 properties comprising 1,351,351 rooms in 143 countries and territories as of December 31, 2025. Founded in 1919, Hilton has been an innovator in the industry for over 105 years, driven by the vision of founder Conrad Hilton "to fill the earth with the light and warmth of hospitality." Our premier brand portfolio includes luxury, lifestyle, full service, focused service and all-suites hotel brands, as well as timeshare brands. As of December 31, 2025, we had 243 million members in our award-winning guest loyalty program, Hilton Honors, an increase of 15 percent from December 31, 2024; refer to "—Our Brand Portfolio" and "—Our Guest Loyalty Program" below for additional information on our brands, including Hilton Honors.
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 | $12.04B | $11.17B | $10.23B | $8.77B | $5.79B | $4.31B | $9.45B | $8.91B | $8.13B | $6.58B |
| SG&A | $393.0M | $415.0M | $408.0M | $382.0M | $405.0M | $311.0M | $441.0M | $443.0M | $439.0M | $409.0M |
| Total operating expenses | $9.35B | $8.81B | $8.01B | $6.68B | $4.77B | $4.72B | $7.88B | $7.47B | $7.00B | $5.72B |
| Operating income | $2.69B | $2.37B | $2.23B | $2.09B | $1.01B | -$418.0M | $1.66B | $1.43B | $1.13B | $868.0M |
| Interest expense | $620.0M | $569.0M | $464.0M | $415.0M | $397.0M | $429.0M | $414.0M | $371.0M | $351.0M | $334.0M |
| Pre-tax income | $2.07B | $1.78B | $1.69B | $1.73B | $560.0M | -$924.0M | $1.24B | $1.08B | $753.0M | $540.0M |
| Income tax | $611.0M | $244.0M | $541.0M | $477.0M | $153.0M | $204.0M | $358.0M | $309.0M | $336.0M | $557.0M |
| Net income | $1.46B | $1.53B | $1.14B | $1.25B | $410.0M | -$715.0M | $881.0M | $764.0M | $1.08B | $338.0M |
| EPS, basic | 6.18 | 6.20 | 4.36 | 4.56 | 1.47 | -2.58 | 3.07 | 2.53 | 3.34 | 1.03 |
| EPS, diluted | 6.12 | 6.14 | 4.33 | 4.53 | 1.46 | -2.58 | 3.04 | 2.50 | 3.32 | 1.03 |
| Shares, diluted (wtd. avg.) | $238.0M | $250.0M | $264.0M | $277.0M | $281.0M | $277.0M | $290.0M | $305.0M | $327.0M | $329.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $918.0M | $1.30B | $875.0M | $1.29B | $1.51B | $3.26B | $630.0M | $484.0M | $670.0M | $1.68B |
| Receivables | $1.69B | $1.58B | $1.49B | $1.33B | $1.07B | $771.0M | $1.26B | $1.15B | $1.00B | $755.0M |
| Inventory | — | — | — | — | — | — | — | — | — | $541.0M |
| Total current assets | $3.00B | $3.27B | $2.61B | $2.87B | $2.87B | $4.20B | $2.09B | $1.98B | $2.01B | $3.56B |
| Property, plant and equipment | $684.0M | $411.0M | $382.0M | $280.0M | $305.0M | $346.0M | $380.0M | $367.0M | $353.0M | $341.0M |
| Goodwill | $5.08B | $5.04B | $5.05B | $5.03B | $5.07B | $5.09B | $5.16B | $5.16B | $5.19B | $5.22B |
| Other intangibles | $447.0M | $429.0M | $298.0M | — | — | $653.0M | $780.0M | $872.0M | $953.0M | $963.0M |
| Total assets | $16.77B | $16.52B | $15.40B | $15.51B | $15.44B | $16.75B | $14.96B | $13.99B | $14.23B | $26.21B |
| Accounts payable | $376.0M | $409.0M | $457.0M | $368.0M | $274.0M | $224.0M | $303.0M | $283.0M | $282.0M | $314.0M |
| Short-term debt | — | — | — | — | — | — | — | — | $46.0M | $33.0M |
| Total current liabilities | $4.51B | $4.70B | $3.72B | $3.37B | $3.02B | $2.43B | $2.87B | $2.62B | $2.46B | $2.68B |
| Total liabilities | $22.12B | $20.21B | $17.75B | $16.61B | $16.26B | $18.24B | $15.43B | $13.44B | $12.54B | $20.36B |
| Retained earnings | -$1.51B | -$2.82B | -$4.21B | -$5.19B | -$6.32B | -$6.73B | -$5.96B | -$6.42B | -$6.98B | -$3.32B |
| Total equity | -$5.39B | -$3.73B | -$2.35B | -$1.10B | -$819.0M | -$1.49B | -$472.0M | $558.0M | $1.69B | $5.63B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.13B | $2.01B | $1.95B | $1.68B | $109.0M | $708.0M | $1.38B | $1.25B | $849.0M | $1.31B |
| Depreciation and amortisation | $177.0M | $146.0M | $147.0M | $162.0M | $188.0M | $331.0M | $346.0M | $325.0M | $336.0M | $353.0M |
| Stock-based compensation | $170.0M | $176.0M | $169.0M | $162.0M | $193.0M | $97.0M | $154.0M | $127.0M | $121.0M | $91.0M |
| Capital expenditure | $101.0M | $96.0M | $151.0M | $39.0M | $35.0M | $46.0M | $81.0M | $72.0M | $58.0M | $317.0M |
| Investing cash flow | -$190.0M | -$446.0M | -$305.0M | -$123.0M | -$57.0M | -$107.0M | -$123.0M | -$131.0M | -$147.0M | -$423.0M |
| Financing cash flow | -$2.35B | -$1.04B | -$2.04B | -$1.76B | -$1.79B | $2.03B | -$1.11B | -$1.30B | -$1.72B | -$44.0M |
| Dividends paid | $143.0M | $150.0M | $158.0M | $123.0M | $0 | $42.0M | $172.0M | $181.0M | $195.0M | $277.0M |
| Buybacks | $3.18B | $2.89B | $2.34B | $1.59B | $0 | $296.0M | $1.54B | $1.72B | $891.0M | $0 |
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 0001585689-26-000007.
Others in SIC 7011
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MAR | MARRIOTT INTERNATIONAL INC /MD/ | $87.75B | 35.4x | 4.3% |
| LVS | LAS VEGAS SANDS CORP | $28.74B | 18.9x | 15.2% |
| H | Hyatt Hotels Corp | $15.64B | — | 6.8% |
| MGM | MGM Resorts International | $10.37B | 54.2x | 1.7% |
| WYNN | WYNN RESORTS LTD | $9.43B | 29.2x | 0.1% |
| CZR | Caesars Entertainment, Inc. | $6.05B | — | 2.1% |
| BYD | BOYD GAMING CORP | $5.67B | 3.5x | 4.1% |
| WH | WYNDHAM HOTELS & RESORTS, INC. | $5.33B | 28.7x | 1.8% |