Hilton Worldwide (HLT) Financials

$275.88 -0.42 (-0.15%)

Closing price 08/29/2025 03:59 PM Eastern

Extended Trading

$271.32 -4.56 (-1.65%)

As of 08/29/2025 05:13 PM Eastern

Annual Income Statements for Hilton Worldwide

This table shows Hilton Worldwide's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	673	1,404	1,179	422	764	881	-715	410	1,255	1,141	1,535
Consolidated Net Income / (Loss)	682	1,416	1,163	1,089	769	886	-720	407	1,257	1,151	1,539
Net Income / (Loss) Continuing Operations	682	881	-17	417	1,387	886	-720	407	1,257	1,151	1,539
Total Pre-Tax Income	1,147	533	606	753	1,078	1,244	-924	560	1,734	1,692	1,783
Total Operating Income	1,673	900	868	1,132	1,432	1,657	-418	1,010	2,094	2,225	2,370
Total Gross Profit	2,792	1,708	1,688	3,232	2,251	2,435	583	1,655	2,698	2,930	3,063
Total Revenue	10,502	7,133	6,576	8,131	8,906	9,452	4,307	5,788	8,773	10,235	11,174
Operating Revenue	10,502	7,133	6,576	8,131	8,906	9,452	4,307	5,788	8,773	10,235	11,174
Total Cost of Revenue	7,710	5,425	4,888	4,899	6,655	7,017	3,724	4,133	6,075	7,305	8,111
Operating Cost of Revenue	7,710	5,425	4,888	-	6,655	7,017	3,724	4,133	6,075	7,305	8,111
Total Operating Expenses	1,119	808	754	2,100	819	778	1,001	645	604	705	693
Selling, General & Admin Expense	491	537	409	439	494	513	371	405	382	408	415
Depreciation Expense	628	385	353	336	325	346	331	188	162	147	146
Other Operating Expenses / (Income)	-	49	-	1,325	-	-	-	45	60	112	137
Impairment Charge	0.00	-	-	-	0.00	0.00	258	0.00	0.00	38	0.00
Other Special Charges / (Income)	0.00	-163	-8.00	0.00	0.00	-81	0.00	7.00	0.00	0.00	-5.00
Total Other Income / (Expense), net	-526	-367	-328	-379	-354	-413	-506	-450	-360	-533	-587
Interest Expense	618	377	334	411	371	414	429	397	415	464	569
Interest & Investment Income	29	-	-	-	-	-	-	0.00	0.00	-92	0.00
Other Income / (Expense), net	63	10	6.00	32	17	1.00	-77	-53	55	23	-18
Income Tax Expense	465	-348	-557	-336	309	358	-204	153	477	541	244
Net Income / (Loss) Attributable to Noncontrolling Interest	9.00	12	-16	5.00	5.00	5.00	-5.00	-3.00	2.00	10	4.00
Basic Earnings per Share	$2.05	$4.27	$1.03	$3.34	$2.53	$3.07	($2.58)	$1.47	$4.56	$4.36	$6.20
Weighted Average Basic Shares Outstanding	985M	329M	329M	279.40M	302M	554.90M	555.22M	558.28M	532.90M	504.32M	240.60M
Diluted Earnings per Share	$2.05	$4.26	$1.03	$3.32	$2.50	$3.04	($2.58)	$1.46	$4.53	$4.33	$6.14
Weighted Average Diluted Shares Outstanding	985M	329M	329M	279.40M	302M	554.90M	555.22M	558.28M	532.90M	504.32M	240.60M
Weighted Average Basic & Diluted Shares Outstanding	985M	329M	329M	279.40M	302M	554.90M	555.22M	558.28M	532.90M	504.32M	240.60M
Cash Dividends to Common per Share	$0.00	$0.42	$0.84	$0.60	$0.60	$0.60	$0.15	$0.00	$0.45	$0.60	$0.60

This table shows Hilton Worldwide's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	328	206	411	377	147	265	421	344	505	300	440
Consolidated Net Income / (Loss)	333	209	413	379	150	268	422	344	505	300	442
Net Income / (Loss) Continuing Operations	333	209	413	379	150	268	422	344	505	300	442
Total Pre-Tax Income	403	302	568	548	274	365	591	491	336	410	629
Total Operating Income	504	498	674	653	400	533	725	623	489	536	778
Total Gross Profit	663	647	855	815	613	2,326	2,653	789	669	2,456	2,851
Total Revenue	3,149	2,293	2,660	2,673	2,609	2,573	2,951	2,867	2,783	2,695	3,137
Operating Revenue	3,149	2,293	2,660	2,673	2,609	2,573	2,951	2,867	2,783	2,695	3,137
Total Cost of Revenue	2,486	1,646	1,805	1,858	1,996	247	298	2,078	2,114	239	286
Operating Cost of Revenue	2,486	1,646	1,805	1,858	1,996	247	298	2,078	2,114	239	286
Total Operating Expenses	159	149	181	162	213	1,793	1,928	166	180	1,920	2,073
Selling, General & Admin Expense	60	91	111	96	110	134	113	101	97	120	135
Depreciation Expense	39	37	37	40	33	36	34	37	39	41	43
Other Operating Expenses / (Income)	-	21	33	26	32	1,630	1,781	26	44	1,759	1,895
Other Special Charges / (Income)	-	0.00	0.00	0.00	-	-7.00	0.00	2.00	-	0.00	0.00
Total Other Income / (Expense), net	-101	-196	-106	-105	-126	-168	-134	-132	-153	-126	-149
Interest Expense	120	116	111	113	124	131	141	140	157	145	151
Other Income / (Expense), net	19	12	5.00	8.00	-2.00	-37	7.00	8.00	4.00	19	2.00
Income Tax Expense	70	93	155	169	124	97	169	147	-169	110	187
Net Income / (Loss) Attributable to Noncontrolling Interest	5.00	3.00	2.00	2.00	3.00	3.00	1.00	0.00	-	0.00	2.00
Basic Earnings per Share	$1.20	$0.77	$1.56	$1.45	$0.58	$1.05	$1.69	$1.40	$2.06	$1.25	$1.85
Weighted Average Basic Shares Outstanding	532.90M	264.63M	261.51M	256.44M	504.32M	250.05M	246.43M	243.78M	240.60M	237.70M	235.19M
Diluted Earnings per Share	$1.20	$0.77	$1.55	$1.44	$0.57	$1.04	$1.67	$1.38	$2.05	$1.23	$1.84
Weighted Average Diluted Shares Outstanding	532.90M	264.63M	261.51M	256.44M	504.32M	250.05M	246.43M	243.78M	240.60M	237.70M	235.19M
Weighted Average Basic & Diluted Shares Outstanding	532.90M	264.63M	261.51M	256.44M	504.32M	250.05M	246.43M	243.78M	240.60M	237.70M	235.19M
Cash Dividends to Common per Share	$0.15	$0.15	$0.15	$0.15	$0.15	$0.15	$0.15	$0.15	$0.15	$0.15	$0.15

This table details how cash moves in and out of Hilton Worldwide's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-92	88	383	90	30	148	2,633	-1,741	-207	-399	522
Net Cash From Operating Activities	1,307	1,446	1,310	849	1,255	1,384	708	109	1,681	1,946	2,013
Net Cash From Continuing Operating Activities	1,307	1,446	865	895	1,461	1,384	708	109	1,681	1,946	2,013
Net Income / (Loss) Continuing Operations	682	1,416	354	1,089	769	886	-720	407	1,257	1,151	1,539
Consolidated Net Income / (Loss)	682	1,416	354	1,089	769	886	-720	407	1,257	1,151	1,539
Depreciation Expense	628	692	-	336	325	346	331	188	162	147	146
Amortization Expense	50	38	48	32	43	45	46	48	54	59	67
Non-Cash Adjustments To Reconcile Net Income	18	-115	58	-57	35	-52	332	49	76	82	78
Changes in Operating Assets and Liabilities, net	-71	-585	405	-551	83	159	719	-583	132	507	183
Net Cash From Investing Activities	-310	414	-423	-147	-131	-123	-107	-57	-123	-305	-446
Net Cash From Continuing Investing Activities	-310	414	-423	-147	-131	-123	-107	-57	-123	-305	-446
Purchase of Property, Plant & Equipment	-268	-310	-317	-58	-72	-81	-46	-35	-39	-151	-96
Acquisitions	-134	-1,501	-81	-75	-87	-124	-46	-44	-63	-96	-338
Purchase of Investments	-	-	-	-	-	-	-3.00	0.00	26	-41	-12
Sale of Property, Plant & Equipment	44	2,205	-	0.00	0.00	120	0.00	6.00	0.00	5.00	8.00
Other Investing Activities, net	48	20	-28	-21	-22	-38	-12	21	-47	-22	-8.00
Net Cash From Financing Activities	-1,075	-1,753	-44	-1,724	-1,300	-1,113	2,032	-1,793	-1,765	-2,040	-1,045
Net Cash From Continuing Financing Activities	-1,075	-1,753	-44	-658	-1,300	-1,113	2,032	-1,793	-1,765	-2,040	-1,045
Repayment of Debt	-1,433	-1,624	-4,435	-1,930	-1,030	-1,576	-2,193	-3,306	-48	-203	-362
Repurchase of Common Equity	-	0.00	0.00	-891	-1,721	-1,538	-296	0.00	-1,590	-2,338	-2,893
Payment of Dividends	-5.00	-146	-309	-195	-181	-172	-42	0.00	-123	-158	-150
Issuance of Debt	350	48	4,715	1,824	1,676	2,200	4,590	1,510	23	609	2,283
Issuance of Common Equity	-	-	-	-	-	17	31	52	29	51	93
Other Financing Activities, net	13	-31	-15	-532	-44	-44	-58	-49	-56	-1.00	-16

This table details how cash moves in and out of Hilton Worldwide's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	-78	-302	-89	-100	92	545	-602	847	-268	-569	-359
Net Cash From Operating Activities	482	330	464	687	465	346	421	664	582	452	658
Net Cash From Continuing Operating Activities	482	330	464	687	465	346	421	664	582	452	658
Net Income / (Loss) Continuing Operations	333	209	413	379	150	268	422	344	505	300	442
Consolidated Net Income / (Loss)	333	209	413	379	150	268	422	344	505	300	442
Depreciation Expense	39	37	37	40	33	36	34	37	39	41	43
Amortization Expense	26	10	11	11	27	12	13	12	30	14	13
Non-Cash Adjustments To Reconcile Net Income	15	20	24	234	-196	-32	46	39	25	-17	17
Changes in Operating Assets and Liabilities, net	69	54	-21	23	451	62	-94	232	-17	114	143
Net Cash From Investing Activities	-25	-85	-69	-74	-77	-27	-291	-49	-79	-50	-36
Net Cash From Continuing Investing Activities	-25	-85	-69	-74	-77	-27	-291	-49	-79	-50	-36
Purchase of Property, Plant & Equipment	-20	-44	-30	-35	-42	-16	-15	-17	-48	-19	-23
Acquisitions	-20	-19	-23	-26	-28	-18	-259	-30	-31	-21	-22
Purchase of Investments	14	-14	-16	-13	2.00	-1.00	-2.00	-2.00	-7.00	-10	9.00
Net Cash From Financing Activities	-535	-547	-484	-713	-296	238	-744	232	-771	-974	-986
Net Cash From Continuing Financing Activities	-535	-547	-484	-713	-296	238	-744	232	-771	-974	-986
Repayment of Debt	-13	-21	-9.00	-19	-154	-222	-95	-28	-17	-10	-871
Repurchase of Common Equity	-498	-450	-470	-675	-743	-666	-736	-725	-766	-875	-769
Payment of Dividends	-41	-41	-40	-39	-38	-39	-37	-37	-37	-37	-36
Issuance of Debt	-	0.00	-	3.00	606	1,200	83	1,000	-	0.00	650
Issuance of Common Equity	13	5.00	23	4.00	19	20	27	10	36	9.00	31
Other Financing Activities, net	4.00	-40	12	13	14	-55	14	12	13	-61	9.00
Effect of Exchange Rate Changes	-	-	-	-	-	-12	-	-	-	3.00	5.00

This table presents Hilton Worldwide's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	26,125	25,622	26,211	14,228	13,995	14,957	16,755	15,441	15,512	15,401	16,522
Total Current Assets	2,499	2,585	3,557	2,007	1,983	2,093	4,202	2,871	2,870	2,614	3,272
Cash & Equivalents	566	609	1,062	570	403	538	3,218	1,427	1,209	800	1,301
Restricted Cash	202	247	121	100	81	92	45	85	77	75	75
Accounts Receivable	844	876	755	1,005	1,150	1,261	771	1,068	1,327	1,487	1,583
Prepaid Expenses	133	147	89	127	160	130	70	89	105	131	193
Other Current Assets	90	38	39	169	189	72	98	202	152	121	120
Plant, Property, & Equipment, net	7,483	9,119	341	353	367	380	346	305	280	382	411
Total Noncurrent Assets	16,143	13,918	22,313	11,868	11,645	12,484	12,207	12,265	12,362	12,405	12,839
Goodwill	6,154	5,887	5,218	5,190	5,160	5,159	5,095	5,071	5,032	5,052	5,035
Intangible Assets	6,943	6,654	6,258	6,276	6,156	6,078	5,823	5,835	5,888	6,083	6,419
Noncurrent Deferred & Refundable Income Taxes	155	78	82	111	90	100	194	213	204	140	318
Other Noncurrent Operating Assets	1,899	274	408	291	239	1,147	1,095	1,146	1,238	1,130	1,067
Total Liabilities & Shareholders' Equity	26,125	25,622	26,211	14,228	13,995	14,957	16,755	15,441	15,512	15,401	16,522
Total Liabilities	21,411	19,671	20,362	12,537	13,437	15,429	18,241	16,260	16,610	17,748	20,211
Total Current Liabilities	2,257	2,443	2,684	2,462	2,615	2,871	2,431	3,019	3,372	3,722	4,700
Short-Term Debt	137	204	33	46	16	37	56	54	39	39	535
Accounts Payable	2,099	2,206	1,821	1,416	1,549	1,703	1,302	1,568	1,790	1,979	2,124
Current Deferred Revenue	-	-	-	366	350	332	370	350	433	502	664
Other Current Liabilities	-	-	-	622	700	799	703	1,047	1,110	1,202	1,377
Total Noncurrent Liabilities	19,154	17,228	17,678	10,075	10,822	12,558	15,810	13,241	13,238	14,026	15,511
Long-Term Debt	11,555	10,249	6,583	6,556	7,266	7,956	10,431	8,712	8,708	9,157	10,616
Capital Lease Obligations	-	-	-	-	0.00	1,037	971	870	832	808	735
Noncurrent Deferred Revenue	1,215	1,067	931	1,668	1,795	827	1,004	896	986	1,132	1,300
Noncurrent Deferred & Payable Income Tax Liabilities	5,216	4,630	1,778	931	898	795	649	700	735	401	322
Other Noncurrent Operating Liabilities	1,168	1,282	1,492	920	863	1,943	2,755	2,063	1,977	2,528	2,538
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	-	-	-	0.00	17
Total Equity & Noncontrolling Interests	4,714	5,951	5,849	1,691	558	-472	-1,486	-819	-1,098	-2,347	-3,706
Total Preferred & Common Equity	4,752	5,985	5,899	1,688	551	-482	-1,490	-821	-1,102	-2,360	-3,727
Total Common Equity	4,752	5,985	5,899	1,688	551	-482	-1,490	-821	-1,102	-2,360	-3,727
Common Stock	10,038	10,161	10,223	10,301	10,375	10,492	10,555	10,723	10,834	10,971	11,133
Retained Earnings	-4,658	-3,392	-3,323	-6,981	-6,417	-5,965	-6,732	-6,322	-5,190	-4,207	-2,822
Treasury Stock	-	-	0.00	-891	-2,625	-4,169	-4,453	-4,443	-6,040	-8,393	-11,256
Accumulated Other Comprehensive Income / (Loss)	-628	-784	-1,001	-741	-782	-840	-860	-779	-706	-731	-782
Noncontrolling Interest	-38	-34	-50	3.00	7.00	10	4.00	2.00	4.00	13	21

This table presents Hilton Worldwide's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	15,512	15,211	15,297	15,200	15,401	15,932	15,737	16,689	16,522	16,043	15,904
Total Current Assets	2,870	2,561	2,580	2,484	2,614	3,183	2,689	3,573	3,272	2,764	2,469
Cash & Equivalents	1,209	901	806	698	800	1,346	731	1,580	1,301	731	371
Restricted Cash	77	77	77	81	75	74	71	75	75	76	77
Accounts Receivable	1,327	1,298	1,402	1,396	1,487	1,467	1,578	1,597	1,583	1,575	1,676
Prepaid Expenses	105	158	146	157	131	193	166	191	193	234	207
Other Current Assets	152	127	149	152	121	103	143	130	120	148	138
Plant, Property, & Equipment, net	280	287	297	305	382	377	378	395	411	420	437
Total Noncurrent Assets	12,362	12,363	12,420	12,411	12,405	12,372	12,670	12,721	12,839	12,859	12,998
Goodwill	5,032	5,041	5,048	5,033	5,052	5,044	5,042	5,065	5,035	5,049	5,084
Intangible Assets	5,888	5,962	5,964	5,984	6,083	6,091	6,382	6,413	6,419	6,432	6,481
Noncurrent Deferred & Refundable Income Taxes	204	204	204	204	140	140	140	140	318	318	318
Other Noncurrent Operating Assets	1,238	1,156	1,204	1,190	1,130	1,097	1,106	1,103	1,067	1,060	1,115
Total Liabilities & Shareholders' Equity	15,512	15,211	15,297	15,200	15,401	15,932	15,737	16,689	16,522	16,043	15,904
Total Liabilities	16,610	16,624	16,720	16,953	17,748	18,749	18,815	20,119	20,211	20,382	20,453
Total Current Liabilities	3,372	3,390	3,435	3,561	3,722	3,774	4,226	4,491	4,700	4,835	4,585
Short-Term Debt	39	35	35	37	39	38	539	538	535	535	35
Accounts Payable	1,790	1,704	1,694	1,876	1,979	1,935	1,913	2,074	2,124	2,160	2,304
Current Deferred Revenue	433	444	460	460	502	513	501	543	664	660	712
Other Current Liabilities	1,110	1,207	1,246	1,188	1,202	1,288	1,273	1,336	1,377	1,480	1,534
Total Noncurrent Liabilities	13,238	13,234	13,285	13,392	14,026	14,975	14,589	15,628	15,511	15,547	15,868
Long-Term Debt	8,708	8,706	8,696	8,682	9,157	10,135	9,633	10,626	10,616	10,617	10,909
Capital Lease Obligations	832	831	839	804	808	775	786	798	735	728	749
Noncurrent Deferred Revenue	986	992	1,022	1,098	1,132	1,152	1,202	1,241	1,300	1,311	1,337
Noncurrent Deferred & Payable Income Tax Liabilities	735	715	710	706	401	373	368	357	322	296	287
Other Noncurrent Operating Liabilities	1,977	1,990	2,018	2,102	2,528	2,540	2,600	2,606	2,538	2,595	2,586
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	0.00	-	21	20	17	16	15
Total Equity & Noncontrolling Interests	-1,098	-1,413	-1,423	-1,753	-2,347	-2,817	-3,099	-3,450	-3,706	-4,355	-4,564
Total Preferred & Common Equity	-1,102	-1,420	-1,431	-1,763	-2,360	-2,833	-3,116	-3,470	-3,727	-4,378	-4,590
Total Common Equity	-1,102	-1,420	-1,431	-1,763	-2,360	-2,833	-3,116	-3,470	-3,727	-4,378	-4,590
Common Stock	10,834	10,818	10,882	10,928	10,971	10,957	11,025	11,075	11,133	11,104	11,177
Retained Earnings	-5,190	-5,025	-4,654	-4,316	-4,207	-3,981	-3,597	-3,290	-2,822	-2,559	-2,155
Treasury Stock	-6,040	-6,489	-6,956	-7,647	-8,393	-9,060	-9,781	-10,514	-11,256	-12,154	-12,907
Accumulated Other Comprehensive Income / (Loss)	-706	-724	-703	-728	-731	-749	-763	-741	-782	-769	-705
Noncontrolling Interest	4.00	7.00	8.00	10	13	16	17	20	21	23	26

This table displays calculated financial ratios and metrics derived from Hilton Worldwide's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.88%	-32.08%	-7.81%	23.65%	9.53%	6.13%	-54.43%	34.39%	51.57%	16.66%	9.17%
EBITDA Growth	42.67%	-32.06%	-43.78%	66.16%	18.60%	12.77%	-105.76%	1,111.02%	98.24%	3.76%	4.52%
EBIT Growth	63.16%	-47.58%	-3.96%	33.18%	24.48%	14.42%	-129.86%	293.33%	124.56%	4.61%	4.63%
NOPAT Growth	36.97%	49.55%	11.98%	-1.72%	-37.60%	15.53%	-124.79%	350.87%	106.79%	-0.29%	35.15%
Net Income Growth	48.26%	107.62%	-17.87%	-6.36%	-29.38%	15.21%	-181.26%	156.53%	208.85%	-8.43%	33.71%
EPS Growth	48.26%	107.62%	-17.87%	222.33%	-24.70%	21.60%	-184.87%	156.59%	210.27%	-4.42%	41.80%
Operating Cash Flow Growth	-37.79%	10.64%	-9.41%	-35.19%	47.82%	10.28%	-48.84%	-84.60%	1,442.20%	15.76%	3.44%
Free Cash Flow Firm Growth	109.28%	9.95%	543.81%	-88.55%	13.12%	-52.80%	52.33%	-85.10%	1,079.23%	18.34%	4.16%
Invested Capital Growth	-2.59%	-0.38%	-53.76%	6.99%	-3.50%	7.78%	-15.38%	8.88%	-1.51%	-5.74%	0.58%
Revenue Q/Q Growth	3.68%	-37.61%	54.37%	14.59%	2.53%	0.86%	-25.56%	24.69%	14.53%	-5.01%	1.58%
EBITDA Q/Q Growth	20.46%	-38.55%	28.77%	30.72%	10.52%	0.05%	-131.13%	43.73%	12.09%	-5.03%	4.23%
EBIT Q/Q Growth	25.25%	-54.32%	2,470.59%	-0.68%	13.38%	-0.42%	-1,803.85%	65.57%	13.76%	-5.27%	4.21%
NOPAT Q/Q Growth	25.16%	39.46%	8,399.06%	-9.93%	-25.32%	-36.04%	-8,460.00%	-25.57%	15.46%	-11.29%	30.36%
Net Income Q/Q Growth	16.58%	86.56%	-25.54%	40.34%	-39.64%	-36.67%	20.27%	164.29%	17.26%	-13.72%	29.98%
EPS Q/Q Growth	16.58%	86.56%	-25.54%	-1.48%	127.27%	-38.71%	-120.51%	1,023.08%	17.36%	-12.70%	31.76%
Operating Cash Flow Q/Q Growth	-33.86%	3.36%	-8.01%	-9.29%	7.45%	-9.13%	-32.44%	168.13%	26.39%	-0.87%	6.17%
Free Cash Flow Firm Q/Q Growth	0.00%	-20.23%	1,582.10%	-88.81%	9.30%	-59.41%	-55.92%	-68.43%	658.24%	-6.80%	19.21%
Invested Capital Q/Q Growth	-2.16%	3.16%	-54.41%	4.93%	-1.31%	1.63%	17.64%	16.84%	-2.14%	-2.99%	-0.81%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	26.59%	23.95%	25.67%	39.75%	25.28%	25.76%	13.54%	28.59%	30.75%	28.63%	27.41%
EBITDA Margin	22.99%	22.99%	14.02%	18.84%	20.40%	21.68%	-2.74%	20.61%	26.96%	23.98%	22.96%
Operating Margin	15.93%	12.62%	13.20%	13.92%	16.08%	17.53%	-9.71%	17.45%	23.87%	21.74%	21.21%
EBIT Margin	16.53%	12.76%	13.29%	14.32%	16.27%	17.54%	-11.49%	16.53%	24.50%	21.96%	21.05%
Profit (Net Income) Margin	6.49%	19.85%	17.69%	13.39%	8.63%	9.37%	-16.72%	7.03%	14.33%	11.25%	13.77%
Tax Burden Percent	59.46%	265.67%	191.91%	144.62%	71.34%	71.22%	77.92%	72.68%	72.49%	68.03%	86.32%
Interest Burden Percent	66.07%	58.57%	69.34%	64.69%	74.40%	75.03%	186.67%	58.52%	80.69%	75.27%	75.81%
Effective Tax Rate	40.54%	-65.29%	-91.91%	-44.62%	28.66%	28.78%	0.00%	27.32%	27.51%	31.97%	13.68%
Return on Invested Capital (ROIC)	6.35%	9.64%	14.78%	22.20%	13.64%	15.44%	-4.00%	10.48%	20.94%	21.66%	30.08%
ROIC Less NNEP Spread (ROIC-NNEP)	3.55%	8.93%	5.42%	6.99%	9.67%	11.57%	-9.15%	6.47%	17.76%	17.50%	24.92%
Return on Net Nonoperating Assets (RNNOA)	8.83%	16.92%	4.93%	6.68%	54.75%	2,045.02%	77.54%	-45.79%	-152.08%	-88.48%	-81.07%
Return on Equity (ROE)	15.17%	26.55%	19.71%	28.89%	68.39%	2,060.47%	73.54%	-35.31%	-131.14%	-66.82%	-50.99%
Cash Return on Invested Capital (CROIC)	8.97%	10.01%	88.31%	15.45%	17.20%	7.96%	12.66%	1.97%	22.45%	27.57%	29.50%
Operating Return on Assets (OROA)	6.59%	3.52%	3.37%	5.76%	10.27%	11.45%	-3.12%	5.94%	13.89%	14.54%	14.74%
Return on Assets (ROA)	2.59%	5.47%	4.49%	5.39%	5.45%	6.12%	-4.54%	2.53%	8.12%	7.45%	9.64%
Return on Common Equity (ROCE)	15.38%	26.73%	19.85%	29.07%	68.08%	1,653.16%	74.07%	-35.41%	-131.55%	-67.15%	-51.42%
Return on Equity Simple (ROE_SIMPLE)	14.35%	23.66%	19.72%	64.51%	139.56%	-183.82%	48.32%	-49.57%	-114.07%	-48.77%	-41.29%
Net Operating Profit after Tax (NOPAT)	995	1,488	1,666	1,637	1,022	1,180	-293	734	1,518	1,514	2,046
NOPAT Margin	9.47%	20.86%	25.33%	20.13%	11.47%	12.49%	-6.79%	12.68%	17.30%	14.79%	18.31%
Net Nonoperating Expense Percent (NNEP)	2.80%	0.71%	9.37%	15.21%	3.97%	3.87%	5.15%	4.01%	3.18%	4.16%	5.16%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	17.90%	19.77%	25.01%
Cost of Revenue to Revenue	73.41%	76.06%	74.33%	60.25%	74.72%	74.24%	86.46%	71.41%	69.25%	71.37%	72.59%
SG&A Expenses to Revenue	4.68%	7.53%	6.22%	5.40%	5.55%	5.43%	8.61%	7.00%	4.35%	3.99%	3.71%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	10.66%	11.33%	11.47%	25.83%	9.20%	8.23%	23.24%	11.14%	6.88%	6.89%	6.20%
Earnings before Interest and Taxes (EBIT)	1,736	910	874	1,164	1,449	1,658	-495	957	2,149	2,248	2,352
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,414	1,640	922	1,532	1,817	2,049	-118	1,193	2,365	2,454	2,565
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.53	2.32	3.03	14.78	38.02	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.60	1.94	2.72	3.07	2.35	3.28	7.11	7.45	3.87	4.55	5.39
Price to Earnings (P/E)	24.90	9.87	15.17	59.12	27.42	35.18	0.00	105.18	27.05	40.81	39.25
Dividend Yield	0.00%	1.00%	1.94%	0.77%	1.06%	0.55%	0.54%	0.00%	0.36%	0.33%	0.24%
Earnings Yield	4.02%	10.13%	6.59%	1.69%	3.65%	2.84%	0.00%	0.95%	3.70%	2.45%	2.55%
Enterprise Value to Invested Capital (EV/IC)	1.78	1.51	3.27	4.05	3.77	4.97	5.79	7.02	5.87	8.21	10.38
Enterprise Value to Revenue (EV/Rev)	2.62	3.26	3.54	3.80	3.12	4.17	9.01	8.85	4.81	5.44	6.34
Enterprise Value to EBITDA (EV/EBITDA)	11.38	14.20	25.24	20.16	15.28	19.23	0.00	42.96	17.86	22.70	27.60
Enterprise Value to EBIT (EV/EBIT)	15.83	25.59	26.62	26.53	19.16	23.77	0.00	53.55	19.66	24.78	30.10
Enterprise Value to NOPAT (EV/NOPAT)	27.62	15.65	13.97	18.86	27.17	33.39	0.00	69.82	27.83	36.81	34.61
Enterprise Value to Operating Cash Flow (EV/OCF)	21.02	16.11	17.76	36.38	22.12	28.47	54.83	470.19	25.13	28.63	35.17
Enterprise Value to Free Cash Flow (EV/FCFF)	19.54	15.07	2.34	27.11	21.54	64.79	41.90	371.24	25.95	28.92	35.28
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.48	1.76	1.13	3.90	13.05	-19.13	-7.71	-11.77	-8.72	-4.26	-3.22
Long-Term Debt to Equity	2.45	1.72	1.13	3.88	13.02	-19.05	-7.67	-11.70	-8.69	-4.25	-3.08
Financial Leverage	2.49	1.90	0.91	0.96	5.66	176.72	-8.48	-7.08	-8.56	-5.06	-3.25
Leverage Ratio	5.86	4.85	4.39	5.36	12.55	336.65	-16.20	-13.97	-16.15	-8.97	-5.29
Compound Leverage Factor	3.87	2.84	3.05	3.47	9.34	252.59	-30.23	-8.17	-13.03	-6.75	-4.01
Debt to Total Capital	71.27%	63.72%	53.08%	79.61%	92.88%	105.52%	114.90%	109.29%	112.95%	130.65%	145.00%
Short-Term Debt to Total Capital	0.84%	1.24%	0.26%	0.55%	0.20%	0.43%	0.56%	0.61%	0.46%	0.51%	6.53%
Long-Term Debt to Total Capital	70.43%	62.48%	52.81%	79.05%	92.68%	105.08%	114.34%	108.68%	112.49%	130.14%	138.48%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	-0.23%	-0.21%	-0.40%	0.04%	0.09%	0.12%	0.04%	0.02%	0.05%	0.17%	0.46%
Common Equity to Total Capital	28.97%	36.49%	47.32%	20.35%	7.03%	-5.63%	-14.94%	-9.31%	-12.99%	-30.82%	-45.47%
Debt to EBITDA	4.84	6.37	7.18	4.31	4.01	4.41	-97.10	8.08	4.05	4.08	4.63
Net Debt to EBITDA	4.45	5.77	5.89	3.87	3.74	4.10	-69.45	6.81	3.51	3.72	4.10
Long-Term Debt to EBITDA	4.79	6.25	7.14	4.28	4.00	4.39	-96.63	8.03	4.03	4.06	4.43
Debt to NOPAT	11.75	7.03	3.97	4.03	7.13	7.65	-39.16	13.13	6.31	6.61	5.81
Net Debt to NOPAT	10.81	6.36	3.26	3.62	6.65	7.12	-28.01	11.07	5.46	6.03	5.14
Long-Term Debt to NOPAT	11.62	6.89	3.95	4.00	7.11	7.62	-38.97	13.05	6.28	6.58	5.55
Altman Z-Score	0.85	0.64	0.75	1.31	1.22	1.58	0.73	1.59	1.74	2.25	2.59
Noncontrolling Interest Sharing Ratio	-1.39%	-0.68%	-0.71%	-0.62%	0.44%	19.77%	-0.72%	-0.26%	-0.31%	-0.49%	-0.84%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.11	1.06	1.33	0.82	0.76	0.73	1.73	0.95	0.85	0.70	0.70
Quick Ratio	0.68	0.66	0.68	0.64	0.59	0.63	1.64	0.83	0.75	0.61	0.61
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,406	1,546	9,951	1,139	1,289	608	926	138	1,628	1,927	2,007
Operating Cash Flow to CapEx	583.48%	0.00%	413.25%	1,463.79%	1,743.06%	0.00%	1,539.13%	375.86%	4,310.26%	1,332.88%	2,287.50%
Free Cash Flow to Firm to Interest Expense	2.27	4.10	29.79	2.77	3.47	1.47	2.16	0.35	3.92	4.15	3.53
Operating Cash Flow to Interest Expense	2.11	3.84	3.92	2.07	3.38	3.34	1.65	0.27	4.05	4.19	3.54
Operating Cash Flow Less CapEx to Interest Expense	1.75	8.86	2.97	1.92	3.19	3.44	1.54	0.20	3.96	3.88	3.38
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.40	0.28	0.25	0.40	0.63	0.65	0.27	0.36	0.57	0.66	0.70
Accounts Receivable Turnover	13.34	8.29	8.06	9.24	8.27	7.84	4.24	6.29	7.33	7.27	7.28
Inventory Turnover	19.28	12.83	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.27	0.86	1.39	23.43	24.74	25.31	11.87	17.78	29.99	30.92	28.18
Accounts Payable Turnover	3.69	2.52	2.43	3.03	4.49	4.32	2.48	2.88	3.62	3.88	3.95
Days Sales Outstanding (DSO)	27.37	44.01	45.26	39.50	44.16	46.55	86.10	57.99	49.82	50.18	50.14
Days Inventory Outstanding (DIO)	18.94	28.46	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	98.90	144.82	150.35	120.59	81.31	84.58	147.26	126.73	100.88	94.16	92.32
Cash Conversion Cycle (CCC)	-52.59	-72.36	-105.09	-81.08	-37.15	-38.03	-61.16	-68.74	-51.06	-43.98	-42.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	15,468	15,410	7,125	7,623	7,356	7,928	6,709	7,305	7,195	6,782	6,821
Invested Capital Turnover	0.67	0.46	0.58	1.10	1.19	1.24	0.59	0.83	1.21	1.46	1.64
Increase / (Decrease) in Invested Capital	-411	-58	-8,285	498	-267	572	-1,219	596	-110	-413	39
Enterprise Value (EV)	27,474	23,288	23,267	30,883	27,757	39,403	38,817	51,251	42,241	55,707	70,801
Market Capitalization	16,758	13,863	17,884	24,948	20,952	30,993	30,618	43,125	33,944	46,565	60,253
Book Value per Share	$4.83	$6.06	$5.96	$5.28	$1.86	($1.71)	($5.37)	($2.95)	($4.07)	($9.20)	($15.29)
Tangible Book Value per Share	($8.48)	($6.64)	($5.63)	($30.56)	($36.30)	($41.53)	($44.72)	($42.07)	($44.45)	($52.62)	($62.27)
Total Capital	16,406	16,404	12,465	8,293	7,840	8,558	9,972	8,817	8,481	7,657	8,197
Total Debt	11,692	10,453	6,616	6,602	7,282	9,030	11,458	9,636	9,579	10,004	11,886
Total Long-Term Debt	11,555	10,249	6,583	6,556	7,266	8,993	11,402	9,582	9,540	9,965	11,351
Net Debt	10,754	9,459	5,433	5,932	6,798	8,400	8,195	8,124	8,293	9,129	10,510
Capital Expenditures (CapEx)	224	-1,895	317	58	72	-39	46	29	39	146	88
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-389	-510	-277	-1,079	-1,100	-1,371	-1,436	-1,606	-1,749	-1,944	-2,269
Debt-free Net Working Capital (DFNWC)	379	346	906	-409	-616	-741	1,827	-94	-463	-1,069	-893
Net Working Capital (NWC)	242	142	873	-455	-632	-778	1,771	-148	-502	-1,108	-1,428
Net Nonoperating Expense (NNE)	313	72	503	548	253	294	427	327	261	363	507
Net Nonoperating Obligations (NNO)	10,754	9,459	1,276	5,932	6,798	8,400	8,195	8,124	8,293	9,129	10,510
Total Depreciation and Amortization (D&A)	678	730	48	368	368	391	377	236	216	206	213
Debt-free, Cash-free Net Working Capital to Revenue	-3.70%	-7.15%	-4.21%	-13.27%	-12.35%	-14.50%	-33.34%	-27.75%	-19.94%	-18.99%	-20.31%
Debt-free Net Working Capital to Revenue	3.61%	4.85%	13.78%	-5.03%	-6.92%	-7.84%	42.42%	-1.62%	-5.28%	-10.44%	-7.99%
Net Working Capital to Revenue	2.30%	1.99%	13.28%	-5.60%	-7.10%	-8.23%	41.12%	-2.56%	-5.72%	-10.83%	-12.78%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.04	$4.26	$1.06	$3.88	$2.53	$3.07	($2.58)	$1.47	$4.56	$4.36	$6.20
Adjusted Weighted Average Basic Shares Outstanding	328.21M	329.29M	329.73M	316.12M	292.85M	554.90M	555.22M	558.28M	532.90M	504.32M	240.60M
Adjusted Diluted Earnings per Share	$2.04	$4.26	$1.05	$3.85	$2.50	$3.04	($2.56)	$1.46	$4.53	$4.33	$6.14
Adjusted Weighted Average Diluted Shares Outstanding	328.21M	329.29M	329.73M	316.12M	292.85M	554.90M	555.22M	558.28M	532.90M	504.32M	240.60M
Adjusted Basic & Diluted Earnings per Share	$2.04	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	328.21M	329.29M	329.73M	316.12M	292.85M	554.90M	555.22M	558.28M	532.90M	504.32M	240.60M
Normalized Net Operating Profit after Tax (NOPAT)	995	516	602	792	1,022	1,122	-83	739	1,518	1,539	2,041
Normalized NOPAT Margin	9.47%	7.23%	9.15%	9.75%	11.47%	11.88%	-1.93%	12.77%	17.30%	15.04%	18.27%
Pre Tax Income Margin	10.92%	7.47%	9.22%	9.26%	12.10%	13.16%	-21.45%	9.68%	19.77%	16.53%	15.96%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.81	2.41	2.62	2.83	3.91	4.00	-1.15	2.41	5.18	4.84	4.13
NOPAT to Interest Expense	1.61	3.95	4.99	3.98	2.75	2.85	-0.68	1.85	3.66	3.26	3.60
EBIT Less CapEx to Interest Expense	2.45	7.44	1.67	2.69	3.71	4.10	-1.26	2.34	5.08	4.53	3.98
NOPAT Less CapEx to Interest Expense	1.25	8.97	4.04	3.84	2.56	2.94	-0.79	1.78	3.56	2.95	3.44
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.73%	10.31%	26.57%	17.91%	23.54%	19.41%	-5.83%	0.00%	9.79%	13.73%	9.75%
Augmented Payout Ratio	0.73%	10.31%	26.57%	99.72%	247.33%	193.00%	-46.94%	0.00%	136.28%	216.85%	197.73%

This table displays calculated financial ratios and metrics derived from Hilton Worldwide's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	54.67%	49.28%	34.14%	26.98%	-17.15%	12.21%	10.94%	7.26%	6.67%	4.74%	6.30%
EBITDA Growth	76.58%	28.64%	9.82%	4.40%	-22.11%	-2.33%	7.15%	-4.49%	22.71%	12.13%	7.32%
EBIT Growth	98.86%	33.86%	10.95%	4.42%	-23.90%	-2.75%	7.81%	-4.54%	23.87%	11.90%	6.56%
NOPAT Growth	100.27%	28.81%	14.55%	10.41%	-47.42%	13.55%	5.63%	-3.35%	235.63%	0.22%	5.61%
Net Income Growth	125.00%	-0.95%	12.53%	9.54%	-54.96%	28.23%	2.18%	-9.23%	236.67%	11.94%	4.74%
EPS Growth	126.42%	2.67%	17.42%	14.29%	-52.50%	35.06%	7.74%	-4.17%	259.65%	18.27%	10.18%
Operating Cash Flow Growth	267.94%	69.23%	39.34%	2.38%	-3.53%	4.85%	-9.27%	-3.35%	25.16%	30.64%	56.29%
Free Cash Flow Firm Growth	235.67%	144.48%	186.68%	217.61%	20.04%	58.15%	-12.16%	-32.26%	10.12%	-57.14%	31.98%
Invested Capital Growth	-1.51%	-2.71%	-4.11%	-4.91%	-5.74%	-6.55%	-2.56%	-1.63%	0.58%	0.34%	-5.40%
Revenue Q/Q Growth	49.60%	-27.18%	16.01%	0.49%	-2.39%	-10.04%	14.69%	-2.85%	-2.93%	-3.16%	16.40%
EBITDA Q/Q Growth	-13.78%	-5.27%	30.52%	-2.06%	-35.67%	18.78%	43.20%	-12.71%	-17.35%	8.54%	37.05%
EBIT Q/Q Growth	-17.38%	-2.49%	33.14%	-2.65%	-39.79%	24.62%	47.58%	-13.80%	-21.87%	12.58%	40.54%
NOPAT Q/Q Growth	1.82%	-17.24%	42.20%	-7.85%	-51.51%	78.72%	32.28%	-15.69%	68.38%	-46.64%	39.40%
Net Income Q/Q Growth	-3.76%	-37.24%	97.61%	-8.23%	-60.42%	78.67%	57.46%	-18.48%	46.80%	-40.59%	47.33%
EPS Q/Q Growth	-4.76%	-35.83%	101.30%	-7.10%	-60.42%	82.46%	60.58%	-17.37%	48.55%	-40.00%	49.59%
Operating Cash Flow Q/Q Growth	-28.17%	-31.54%	40.61%	48.06%	-32.31%	-25.59%	21.68%	57.72%	-12.35%	-22.34%	45.58%
Free Cash Flow Firm Q/Q Growth	176.19%	3.45%	47.08%	1.44%	-22.23%	36.29%	-18.31%	-21.77%	26.43%	-46.95%	151.55%
Invested Capital Q/Q Growth	-2.14%	-0.19%	1.16%	-3.76%	-2.99%	-1.05%	5.47%	-2.84%	-0.81%	-1.28%	-0.56%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	21.05%	28.22%	32.14%	30.49%	23.50%	27.05%	30.80%	27.52%	24.04%	91.13%	90.88%
EBITDA Margin	18.67%	24.29%	27.33%	26.64%	17.55%	21.14%	26.40%	23.72%	20.19%	22.63%	26.65%
Operating Margin	16.01%	21.72%	25.34%	24.43%	15.33%	20.72%	24.57%	21.73%	17.57%	19.89%	24.80%
EBIT Margin	16.61%	22.24%	25.53%	24.73%	15.25%	19.28%	24.81%	22.01%	17.71%	20.59%	24.86%
Profit (Net Income) Margin	10.57%	9.11%	15.53%	14.18%	5.75%	10.42%	14.30%	12.00%	18.15%	11.13%	14.09%
Tax Burden Percent	82.63%	69.21%	72.71%	69.16%	54.74%	73.42%	71.40%	70.06%	150.30%	73.17%	70.27%
Interest Burden Percent	77.06%	59.22%	83.65%	82.90%	68.84%	73.59%	80.74%	77.81%	68.15%	73.87%	80.64%
Effective Tax Rate	17.37%	30.79%	27.29%	30.84%	45.26%	26.58%	28.60%	29.94%	-50.30%	26.83%	29.73%
Return on Invested Capital (ROIC)	16.00%	19.67%	25.35%	25.39%	12.29%	23.03%	26.44%	24.15%	43.39%	24.45%	29.06%
ROIC Less NNEP Spread (ROIC-NNEP)	14.99%	18.05%	24.44%	24.53%	11.50%	21.66%	25.42%	23.18%	41.04%	23.56%	28.08%
Return on Net Nonoperating Assets (RNNOA)	-128.34%	-142.59%	-188.41%	-156.46%	-58.16%	-92.81%	-106.42%	-85.20%	-133.54%	-67.82%	-78.78%
Return on Equity (ROE)	-112.34%	-122.91%	-163.06%	-131.07%	-45.87%	-69.79%	-79.98%	-61.05%	-90.16%	-43.37%	-49.73%
Cash Return on Invested Capital (CROIC)	22.45%	24.71%	26.59%	28.82%	27.57%	29.20%	24.69%	24.28%	29.50%	29.99%	35.58%
Operating Return on Assets (OROA)	9.41%	13.82%	16.99%	17.35%	10.10%	13.02%	17.27%	15.18%	12.40%	14.55%	18.05%
Return on Assets (ROA)	5.99%	5.66%	10.33%	9.95%	3.81%	7.03%	9.96%	8.28%	12.70%	7.87%	10.23%
Return on Common Equity (ROCE)	-112.69%	-123.38%	-163.65%	-131.52%	-46.09%	-70.17%	-80.80%	-61.64%	-90.92%	-43.70%	-50.24%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-88.38%	-90.92%	-75.67%	0.00%	-42.71%	-39.12%	-34.12%	0.00%	-35.88%	-34.66%
Net Operating Profit after Tax (NOPAT)	416	345	490	452	219	391	518	436	735	392	547
NOPAT Margin	13.23%	15.03%	18.42%	16.90%	8.39%	15.21%	17.54%	15.22%	26.41%	14.55%	17.43%
Net Nonoperating Expense Percent (NNEP)	1.02%	1.63%	0.90%	0.85%	0.79%	1.36%	1.02%	0.97%	2.34%	0.90%	0.98%
Return On Investment Capital (ROIC_SIMPLE)	4.91%	-	-	-	2.86%	-	-	-	8.98%	5.21%	7.67%
Cost of Revenue to Revenue	78.95%	71.78%	67.86%	69.51%	76.50%	72.95%	69.20%	72.48%	75.96%	8.87%	9.12%
SG&A Expenses to Revenue	1.91%	3.97%	4.17%	3.59%	4.22%	4.04%	3.83%	3.52%	3.49%	4.45%	4.30%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	5.05%	6.50%	6.80%	6.06%	8.16%	6.34%	6.24%	5.79%	6.47%	71.24%	66.08%
Earnings before Interest and Taxes (EBIT)	523	510	679	661	398	496	732	631	493	555	780
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	588	557	727	712	458	544	779	680	562	610	836
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.87	3.92	3.76	3.63	4.55	5.20	5.05	5.16	5.39	4.85	5.51
Price to Earnings (P/E)	27.05	29.94	29.71	29.62	40.81	45.58	45.09	48.26	39.25	34.87	39.84
Dividend Yield	0.36%	0.43%	0.52%	0.40%	0.33%	0.28%	0.28%	0.26%	0.24%	0.26%	0.23%
Earnings Yield	3.70%	3.34%	3.37%	3.38%	2.45%	2.19%	2.22%	2.07%	2.55%	2.87%	2.51%
Enterprise Value to Invested Capital (EV/IC)	5.87	6.41	6.48	6.85	8.21	9.57	9.15	9.76	10.38	9.78	11.14
Enterprise Value to Revenue (EV/Rev)	4.81	4.83	4.61	4.45	5.44	6.11	5.99	6.10	6.34	5.83	6.50
Enterprise Value to EBITDA (EV/EBITDA)	17.86	18.48	18.43	18.54	22.70	26.32	25.97	27.29	27.60	25.03	27.75
Enterprise Value to EBIT (EV/EBIT)	19.66	20.19	20.08	20.19	24.78	28.76	28.31	29.75	30.10	27.32	30.34
Enterprise Value to NOPAT (EV/NOPAT)	27.83	28.77	28.33	28.08	36.81	41.23	40.87	42.79	34.61	32.29	36.06
Enterprise Value to Operating Cash Flow (EV/OCF)	25.13	25.33	24.18	24.41	28.63	32.74	33.74	35.42	35.17	31.08	31.66
Enterprise Value to Free Cash Flow (EV/FCFF)	25.95	25.57	23.87	23.18	28.92	31.68	36.58	39.89	35.28	32.66	30.44
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-8.72	-6.77	-6.73	-5.43	-4.26	-3.89	-3.56	-3.49	-3.22	-2.74	-2.57
Long-Term Debt to Equity	-8.69	-6.75	-6.70	-5.41	-4.25	-3.87	-3.39	-3.33	-3.08	-2.61	-2.56
Financial Leverage	-8.56	-7.90	-7.71	-6.38	-5.06	-4.28	-4.19	-3.68	-3.25	-2.88	-2.81
Leverage Ratio	-16.15	-14.54	-13.87	-11.51	-8.97	-7.36	-6.89	-6.15	-5.29	-4.47	-4.15
Compound Leverage Factor	-12.44	-8.61	-11.60	-9.55	-6.18	-5.42	-5.57	-4.79	-3.60	-3.30	-3.35
Debt to Total Capital	112.95%	117.32%	117.47%	122.56%	130.65%	134.65%	139.06%	140.20%	145.00%	157.54%	163.68%
Short-Term Debt to Total Capital	0.46%	0.43%	0.43%	0.48%	0.51%	0.47%	6.84%	6.31%	6.53%	7.09%	0.49%
Long-Term Debt to Total Capital	112.49%	116.89%	117.04%	122.08%	130.14%	134.18%	132.22%	133.90%	138.48%	150.44%	163.19%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.05%	0.09%	0.10%	0.13%	0.17%	0.20%	0.48%	0.47%	0.46%	0.52%	0.57%
Common Equity to Total Capital	-12.99%	-17.40%	-17.56%	-22.69%	-30.82%	-34.84%	-39.54%	-40.67%	-45.47%	-58.06%	-64.25%
Debt to EBITDA	4.05	3.85	3.75	3.69	4.08	4.49	4.40	4.86	4.63	4.52	4.35
Net Debt to EBITDA	3.51	3.45	3.40	3.38	3.72	3.90	4.07	4.19	4.10	4.21	4.18
Long-Term Debt to EBITDA	4.03	3.83	3.73	3.67	4.06	4.47	4.18	4.64	4.43	4.31	4.34
Debt to NOPAT	6.31	5.99	5.76	5.58	6.61	7.03	6.92	7.62	5.81	5.83	5.65
Net Debt to NOPAT	5.46	5.38	5.23	5.13	6.03	6.11	6.41	6.57	5.14	5.43	5.44
Long-Term Debt to NOPAT	6.28	5.97	5.74	5.56	6.58	7.00	6.58	7.28	5.55	5.56	5.64
Altman Z-Score	1.40	1.56	1.70	1.76	1.86	2.12	2.14	2.14	2.22	2.05	2.39
Noncontrolling Interest Sharing Ratio	-0.31%	-0.38%	-0.36%	-0.34%	-0.49%	-0.54%	-1.02%	-0.96%	-0.84%	-0.77%	-1.04%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.85	0.76	0.75	0.70	0.70	0.84	0.64	0.80	0.70	0.57	0.54
Quick Ratio	0.75	0.65	0.64	0.59	0.61	0.75	0.55	0.71	0.61	0.48	0.45
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	526	545	801	813	632	861	704	550	696	369	929
Operating Cash Flow to CapEx	2,410.00%	750.00%	1,546.67%	1,962.86%	1,256.76%	4,325.00%	2,806.67%	3,905.88%	1,212.50%	2,378.95%	2,860.87%
Free Cash Flow to Firm to Interest Expense	4.39	4.70	7.22	7.19	5.10	6.58	4.99	3.93	4.43	2.55	6.15
Operating Cash Flow to Interest Expense	4.02	2.84	4.18	6.08	3.75	2.64	2.99	4.74	3.71	3.12	4.36
Operating Cash Flow Less CapEx to Interest Expense	3.85	2.47	3.91	5.77	3.45	2.58	2.88	4.62	3.40	2.99	4.21
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.57	0.62	0.67	0.70	0.66	0.68	0.70	0.69	0.70	0.71	0.73
Accounts Receivable Turnover	7.33	8.10	7.59	8.06	7.27	7.61	7.25	7.35	7.28	7.43	7.06
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	29.99	33.03	33.19	35.86	30.92	31.67	32.02	31.43	28.18	28.35	28.18
Accounts Payable Turnover	3.62	4.05	4.33	4.31	3.88	4.14	4.31	4.05	3.95	3.96	3.84
Days Sales Outstanding (DSO)	49.82	45.04	48.11	45.29	50.18	47.99	50.33	49.66	50.14	49.15	51.72
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	100.88	90.11	84.20	84.73	94.16	88.13	84.69	90.19	92.32	92.23	95.12
Cash Conversion Cycle (CCC)	-51.06	-45.07	-36.09	-39.44	-43.98	-40.14	-34.36	-40.53	-42.18	-43.08	-43.40
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,195	7,181	7,264	6,991	6,782	6,711	7,078	6,877	6,821	6,734	6,696
Invested Capital Turnover	1.21	1.31	1.38	1.50	1.46	1.51	1.51	1.59	1.64	1.68	1.67
Increase / (Decrease) in Invested Capital	-110	-200	-311	-361	-413	-470	-186	-114	39	23	-382
Enterprise Value (EV)	42,241	45,997	47,081	47,907	55,707	64,245	64,754	67,148	70,801	65,860	74,595
Market Capitalization	33,944	37,396	38,386	39,153	46,565	54,701	54,560	56,801	60,253	54,748	63,309
Book Value per Share	($4.07)	($5.33)	($5.41)	($6.74)	($9.20)	($11.33)	($12.46)	($14.08)	($15.29)	($18.20)	($19.31)
Tangible Book Value per Share	($44.45)	($46.62)	($47.02)	($48.87)	($52.62)	($55.86)	($58.15)	($60.66)	($62.27)	($65.92)	($67.96)
Total Capital	8,481	8,159	8,147	7,770	7,657	8,131	7,880	8,532	8,197	7,541	7,144
Total Debt	9,579	9,572	9,570	9,523	10,004	10,948	10,958	11,962	11,886	11,880	11,693
Total Long-Term Debt	9,540	9,537	9,535	9,486	9,965	10,910	10,419	11,424	11,351	11,345	11,658
Net Debt	8,293	8,594	8,687	8,744	9,129	9,528	10,156	10,307	10,510	11,073	11,245
Capital Expenditures (CapEx)	20	44	30	35	37	8.00	15	17	48	19	23
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,749	-1,772	-1,703	-1,819	-1,944	-1,973	-1,800	-2,035	-2,269	-2,343	-2,529
Debt-free Net Working Capital (DFNWC)	-463	-794	-820	-1,040	-1,069	-553	-998	-380	-893	-1,536	-2,081
Net Working Capital (NWC)	-502	-829	-855	-1,077	-1,108	-591	-1,537	-918	-1,428	-2,071	-2,116
Net Nonoperating Expense (NNE)	83	136	77	73	69	123	96	92	230	92	105
Net Nonoperating Obligations (NNO)	8,293	8,594	8,687	8,744	9,129	9,528	10,156	10,307	10,510	11,073	11,245
Total Depreciation and Amortization (D&A)	65	47	48	51	60	48	47	49	69	55	56
Debt-free, Cash-free Net Working Capital to Revenue	-19.94%	-18.59%	-16.68%	-16.88%	-18.99%	-18.76%	-16.66%	-18.50%	-20.31%	-20.74%	-22.03%
Debt-free Net Working Capital to Revenue	-5.28%	-8.33%	-8.03%	-9.65%	-10.44%	-5.26%	-9.24%	-3.45%	-7.99%	-13.60%	-18.12%
Net Working Capital to Revenue	-5.72%	-8.70%	-8.38%	-10.00%	-10.83%	-5.62%	-14.22%	-8.35%	-12.78%	-18.33%	-18.43%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.20	$0.77	$1.56	$1.45	$0.58	$1.05	$1.69	$1.40	$2.06	$1.25	$1.85
Adjusted Weighted Average Basic Shares Outstanding	532.90M	264.63M	261.51M	256.44M	504.32M	250.05M	246.43M	243.78M	240.60M	237.70M	235.19M
Adjusted Diluted Earnings per Share	$1.20	$0.77	$1.55	$1.44	$0.57	$1.04	$1.67	$1.38	$2.05	$1.23	$1.84
Adjusted Weighted Average Diluted Shares Outstanding	532.90M	264.63M	261.51M	256.44M	504.32M	250.05M	246.43M	243.78M	240.60M	237.70M	235.19M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	532.90M	264.63M	261.51M	256.44M	504.32M	250.05M	246.43M	243.78M	240.60M	237.70M	235.19M
Normalized Net Operating Profit after Tax (NOPAT)	416	345	490	452	219	386	518	438	342	392	547
Normalized NOPAT Margin	13.23%	15.03%	18.42%	16.90%	8.39%	15.01%	17.54%	15.27%	12.30%	14.55%	17.43%
Pre Tax Income Margin	12.80%	13.17%	21.35%	20.50%	10.50%	14.19%	20.03%	17.13%	12.07%	15.21%	20.05%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.36	4.40	6.12	5.85	3.21	3.79	5.19	4.51	3.14	3.83	5.17
NOPAT to Interest Expense	3.47	2.97	4.42	4.00	1.77	2.99	3.67	3.12	4.68	2.70	3.62
EBIT Less CapEx to Interest Expense	4.19	4.02	5.85	5.54	2.91	3.73	5.09	4.39	2.83	3.70	5.01
NOPAT Less CapEx to Interest Expense	3.30	2.59	4.14	3.69	1.47	2.93	3.57	3.00	4.38	2.57	3.47
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	9.79%	13.07%	12.53%	12.07%	13.73%	12.89%	12.55%	12.75%	9.75%	9.42%	9.24%
Augmented Payout Ratio	136.28%	165.98%	160.42%	168.97%	216.85%	223.97%	243.89%	255.15%	197.73%	206.87%	206.29%

Key Financial Trends

Hilton Worldwide Holdings Inc. (NYSE: HLT) has demonstrated steady financial performance and operational resilience over the past several years through Q2 2025. The company's key financial metrics reflect its ability to generate solid revenue, maintain healthy profitability, and manage its capital structure amid ongoing investments and financing activities.

Positive Highlights:

Consistent Operating Revenue Growth: Hilton's quarterly operating revenue has shown a general upward trend, reaching $3.14 billion in Q2 2025 compared to $2.29 billion in Q1 2023 and approximately $2.6 billion to $3.1 billion range in preceding years.
Robust Net Income: The company posted a net income of $442 million in Q2 2025, up from $209 million in Q1 2023 and a clear increase compared to prior periods, showcasing improved profitability.
Strong Operating Cash Flow: Net cash from operating activities reached $658 million in Q2 2025, reflecting strong cash generation capabilities, supporting ongoing operations and investments.
Moderate Depreciation and Amortization: Depreciation and amortization expenses have remained proportionate to asset levels, indicating managed wear and tear and intangible asset usage without excessive cost escalation.
Dividend Consistency: Hilton has maintained a stable dividend payout of $0.15 per share per quarter over the reviewed period, signaling shareholder return commitment.
Capital Expenditures Supporting Growth: Hilton continues investing in property, plant, and equipment (e.g., $23 million in Q2 2025), facilitating capacity expansion and asset modernization.
Reduction in Treasury Stock: Although negative equity persists, treasury stock values increased (more negative) over time, indicating ongoing share repurchases that may enhance shareholder value.

Neutral Observations:

Stable Interest Expense: Interest costs remain in the $110 million to $150 million quarterly range, consistent with the company's leveraged capital structure.
Goodwill and Intangible Assets Stability: These non-current asset balances remain stable around $5 billion and $6.4 billion, respectively, reflecting no major impairments or acquisitions altering asset base sharply.
Cash and Equivalents Fluctuation: Cash balances vary quarter to quarter, ranging from $371 million in Q2 2025 to $1.3 billion in Q4 2024, influenced by timing of cash flows and financing activities.

Negative Factors:

High Debt Levels: Hilton's total liabilities remain very high, around $20 billion, with long-term debt exceeding $10 billion, indicating significant leverage exposure.
Negative Total Common Equity: Equity levels are substantially negative (about -$4.6 billion as of Q2 2025), mainly driven by accumulated treasury stock and retained earnings deficits, posing potential financial risks.
Significant Share Repurchase and Debt Repayment Outflows: Large cash outflows for repurchasing common equity (e.g., $769 million in Q2 2025) and debt repayments ($871 million in Q2 2025) strain liquidity.
Ongoing Net Cash Outflows from Financing Activities: Negative financing cash flows reached nearly $1 billion in Q2 2025, reflecting aggressive capital restructuring that may pressure cash reserves.
Fluctuating Other Operating Expenses: Notably, "Other Operating Expenses" were unusually high at $1.9 billion in Q2 2025, compared to lower amounts in prior quarters, suggesting volatility or one-time costs impacting operating profitability.
Volatility in Net Cash from Investing Activities: Periodic high spending on acquisitions and investments, such as $291 million in Q2 2024 and $259 million in Q2 2024 respectively, impact free cash flow availability.

Overall, Hilton Worldwide has managed to grow its revenues and income while generating strong operating cash flow in recent quarters. However, the company carries a significant debt load and negative equity position, supplemented by substantial repurchases and repayments that challenge liquidity and balance sheet strength. Investors should monitor the company's ability to sustain earnings growth and manage leverage while continuing capital investments and shareholder returns.

08/30/25 05:28 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Hilton Worldwide's Financials

When does Hilton Worldwide's fiscal year end?

According to the most recent income statement we have on file, Hilton Worldwide's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Hilton Worldwide's net income changed over the last 10 years?

Over the last 10 years, Hilton Worldwide's net income changed from $682 million in 2014 to $1.54 billion in 2024, a change of 125.7%. See Hilton Worldwide's forecast for analyst expectations on what’s next for the company.

What is Hilton Worldwide's operating income?

Hilton Worldwide's total operating income in 2024 was $2.37 billion, based on the following breakdown:

Total Gross Profit: $3.06 billion
Total Operating Expenses: $693 million

How has Hilton Worldwide's revenue changed over the last 10 years?

Over the last 10 years, Hilton Worldwide's total revenue changed from $10.50 billion in 2014 to $11.17 billion in 2024, a change of 6.4%.

How much debt does Hilton Worldwide have?

Hilton Worldwide's total liabilities were at $20.21 billion at the end of 2024, a 13.9% increase from 2023, and a 5.6% decrease since 2014.

How much cash does Hilton Worldwide have?

In the past 10 years, Hilton Worldwide's cash and equivalents has ranged from $403 million in 2018 to $3.22 billion in 2020, and is currently $1.30 billion as of their latest financial filing in 2024.

How has Hilton Worldwide's book value per share changed over the last 10 years?

Over the last 10 years, Hilton Worldwide's book value per share changed from 4.83 in 2014 to -15.29 in 2024, a change of -416.8%.

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This page (NYSE:HLT) was last updated on 8/30/2025 by MarketBeat.com Staff

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Hilton Worldwide (HLT) Financials

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