Hilton Worldwide Holdings Inc.

HLT
Financial Analysis · Updated May 13, 2026 · Coverage 2026-Q2
Latest Q Revenue
$2.9B
Q1 2026 · +8.9% YoY
TTM ROIC
2.9%
FY2025 · NOPAT / Invested Capital (EV-based: Net Debt + Market Cap) · WACC ~8.3% · Moat spread +-5.4pp

Financial Snapshot


ticker: HLT step: 04 generated: 2026-05-12 source: quick-research

Hilton Worldwide Holdings Inc. (HLT) — Financial Snapshot

Income Statement Summary

Metric FY2022 FY2023 FY2024 YoY
Revenue ~$8.77B $10.24B $11.17B +9%
Adj. EBITDA $2.60B $3.09B $3.43B +11%
Adj. EBITDA Margin ~30% ~30% ~31%
Net Income $1.26B $1.15B $1.54B +34%
EPS (adj. diluted) $4.89 $6.21 $7.12 +15%

Note: FY2025 was a record year — adj. EPS $8.11 (+14%), adj. EBITDA $3.73B (+9%). Operating margin at fee business level exceeds 54%.

Cash Flow & Balance Sheet (FY2024)

Metric Value
Operating Cash Flow ~$2.1B
Free Cash Flow ~$1.9B
Cash & Equivalents ~$1.3B
Total Debt ~$12.5B

Key Ratios (approximate)

  • P/E (forward FY2026): ~40–44x | EV/EBITDA: ~22x | FCF Yield: ~2–3%
  • System-wide RevPAR Growth (FY2024): +2.7% | Net Unit Growth: ~6–7% annually

Growth Profile

Hilton compounds through two engines: (1) RevPAR growth (pricing × occupancy) which flows almost entirely to fee income; and (2) net unit growth (~6–7%/year) which expands the royalty base permanently. Combined, these drivers generate ~12–15% annual adjusted EPS growth even in moderate demand environments, amplified by ~$3–3.5B in annual buybacks that shrink the share count. FY2025 record results (adj. EPS $8.11) extended a multi-year streak of double-digit EPS growth.

Forward Estimates

  • FY2026: Adj. EPS guidance $8.28–$8.40 (below ~$9.05 consensus due to RevPAR softness and Middle East impacts); RevPAR growth guided flat to +2%; net unit growth 6–7%; $3.5B capital return authorization
  • 2026 FIFA World Cup: Management estimates ~$900M in incremental sector revenue; Hilton positioned to benefit significantly in host city markets

Deeper Financial Analysis

The fundamental tier adds 9 additional research dimensions for $HLT.

Revenue Breakdown
Segment revenue, geographic mix, product-line contribution margins, and cohort dynamics.
Financial Trends
Quarter-over-quarter momentum, leading indicators, and inflection point analysis.
Balance Sheet
Debt structure, liquidity runway, dilution risk, and working capital dynamics.
Capital Allocation
Buyback cadence, M&A appetite, dividend policy, and reinvestment priorities.
Returns on Capital (ROIC)
Multi-year ROIC vs. WACC, marginal returns on reinvestment, sales-to-invested-capital efficiency, and moat spread.
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