Hyatt Hotels
H · NYSEHotels & Motels · Fiscal year ends Dec 31
Hyatt Hotels reported revenue of $7.1B in the fiscal year ended Dec 2025, up 6.8% from the year before. Net income was −$52M. Operating cash flow of $379M less capital expenditure of $220M left free cash flow of $159M. Net debt was $3.5B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $3B | $5.9B | $6.7B | $6.6B | $7.1B |
| Selling, general & admin | $366M | $464M | $615M | – | – |
| Interest expense | $163M | $150M | $145M | $180M | $317M |
| Pre-tax income | $44M | $363M | $310M | $1.6B | $81M |
| Income tax | $266M | −$92M | $90M | $267M | $130M |
| Net income | −$222M | $455M | $220M | $1.3B | −$52M |
| Diluted EPS | −2.13 | 4.09 | 2.05 | 12.65 | −0.55 |
| Diluted shares | 104M | 111M | 108M | 102M | 96M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $960M | $991M | $881M | $1B | $787M |
| Receivables | $633M | $834M | $883M | $1.1B | $1.1B |
| Inventory | $10M | $9M | $9M | $8M | $8M |
| Current assets | $2.1B | $2.3B | $2.1B | $2.7B | $2.2B |
| Net PP&E | $2.8B | $2.4B | $2.3B | $1.7B | $1.6B |
| Goodwill | $3B | $3.1B | $3.2B | $2.5B | $3.5B |
| Total assets | $12.6B | $12.3B | $12.8B | $13.3B | $14B |
| Payables | $523M | $500M | $493M | $475M | $451M |
| Deferred revenue | $1.2B | $1.4B | $1.6B | $1.6B | $1.6B |
| Current liabilities | $2.2B | $3.3B | $3.6B | $3.3B | $2.9B |
| Long-term debt | $4B | $2.5B | $2.3B | $3.3B | $4.3B |
| Total liabilities | $9B | $8.6B | $9.3B | $9.5B | $10.4B |
| Shareholders' equity | $3.6B | $3.7B | $3.6B | $3.5B | $3.3B |
| Backlog (remaining obligations) | $945M | $470M | $575M | $125M | $135M |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $315M | $674M | $800M | $633M | $379M |
| Capital expenditure | $111M | $201M | $198M | $170M | $220M |
| Free cash flow | $204M | $473M | $602M | $463M | $159M |
| Depreciation & amortisation | $310M | $426M | $397M | $333M | $325M |
| Stock-based compensation | $59M | $61M | $75M | $64M | $74M |
| Acquisitions | $2.9B | $174M | $175M | $609M | $1.3B |
| Share buybacks | $0 | $369M | $453M | $1.2B | $293M |
| Dividends paid | $0 | $0 | $47M | $60M | $57M |
| Dividend per share | – | – | 0.15 | 0.15 | 0.15 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 94.6% | 13.2% | −0.3% | 6.8% |
| EPS growth (YoY) | – | – | −49.9% | 517.1% | −104.3% |
| Net margin | −7.3% | 7.7% | 3.3% | 19.5% | −0.7% |
| Return on equityBlank when equity is negative | −6.2% | 12.3% | 6.2% | 36.5% | −1.6% |
| Free cash flow margin | 6.7% | 8.0% | 9.0% | 7.0% | 2.2% |
| Cash conversion (CFO ÷ net income) | −1.42x | 1.48x | 3.64x | 0.49x | −7.29x |
| Receivable days | 76 | 52 | 48 | 62 | 58 |
| Debt ÷ equity | 1.11x | 0.66x | 0.65x | 0.94x | 1.28x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $3B | $1.5B | $1.4B | $2.3B | $3.5B |
| Current ratio | 0.92x | 0.68x | 0.60x | 0.83x | 0.75x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.