Hilton Worldwide
HLT · NYSEHotels & Motels · Fiscal year ends Dec 31
Hilton Worldwide reported revenue of $12B in the fiscal year ended Dec 2025, up 7.7% from the year before. Operating income was $2.7B, an operating margin of 22.4%, and net income was $1.5B. Operating cash flow of $2.1B less capital expenditure of $101M left free cash flow of $2B. Net debt was $11.4B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $5.8B | $8.8B | $10.2B | $11.2B | $12B |
| Operating income | $1B | $2.1B | $2.2B | $2.4B | $2.7B |
| Interest expense | $397M | $415M | $464M | $569M | $620M |
| Pre-tax income | $560M | $1.7B | $1.7B | $1.8B | $2.1B |
| Income tax | $153M | $477M | $541M | $244M | $611M |
| Net income | $410M | $1.3B | $1.1B | $1.5B | $1.5B |
| Diluted EPS | 1.46 | 4.53 | 4.33 | 6.14 | 6.12 |
| Diluted shares | 281M | 277M | 264M | 250M | 238M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $1.4B | $1.2B | $800M | $1.3B | $918M |
| Receivables | $1.1B | $1.3B | $1.5B | $1.6B | $1.7B |
| Current assets | $2.9B | $2.9B | $2.6B | $3.3B | $3B |
| Net PP&E | $305M | $280M | $382M | $411M | $684M |
| Goodwill | $5.1B | $5B | $5.1B | $5B | $5.1B |
| Total assets | $15.4B | $15.5B | $15.4B | $16.5B | $16.8B |
| Payables | $274M | $368M | $457M | $409M | $376M |
| Deferred revenue | $1.2B | $1.3B | $1.5B | $1.8B | $2.4B |
| Current liabilities | $3B | $3.4B | $3.7B | $4.7B | $4.5B |
| Long-term debt | $8.7B | $8.7B | $9.2B | $10.6B | $12.3B |
| Total liabilities | $16.3B | $16.6B | $17.7B | $20.2B | $22.1B |
| Shareholders' equity | −$821M | −$1.1B | −$2.4B | −$3.7B | −$5.4B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $109M | $1.7B | $1.9B | $2B | $2.1B |
| Capital expenditure | $35M | $39M | $151M | $96M | $101M |
| Free cash flow | $74M | $1.6B | $1.8B | $1.9B | $2B |
| Depreciation & amortisation | $188M | $162M | $147M | $146M | $177M |
| Stock-based compensation | $193M | $162M | $169M | $176M | $170M |
| Acquisitions | – | $0 | $0 | $236M | $4M |
| Share buybacks | $0 | $1.6B | $2.3B | $2.9B | $3.2B |
| Dividends paid | $0 | $123M | $158M | $150M | $143M |
| Dividend per share | 0.00 | 0.45 | 0.60 | 0.60 | 0.60 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 51.6% | 16.7% | 9.2% | 7.7% |
| Operating income growth (YoY) | – | 107.3% | 6.3% | 6.5% | 13.6% |
| EPS growth (YoY) | – | 210.3% | −4.4% | 41.8% | −0.3% |
| Operating margin | 17.4% | 23.9% | 21.7% | 21.2% | 22.4% |
| Net margin | 7.1% | 14.3% | 11.1% | 13.7% | 12.1% |
| ROCEEBIT ÷ (assets − current liabilities) | 8.1% | 17.2% | 19.1% | 20.0% | 22.0% |
| Free cash flow margin | 1.3% | 18.7% | 17.5% | 17.2% | 16.8% |
| Cash conversion (CFO ÷ net income) | 0.27x | 1.34x | 1.71x | 1.31x | 1.46x |
| Receivable days | 67 | 55 | 53 | 52 | 51 |
| Interest cover | 2.54x | 5.05x | 4.80x | 4.17x | 4.34x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $7.3B | $7.5B | $8.4B | $9.3B | $11.4B |
| Current ratio | 0.95x | 0.85x | 0.70x | 0.70x | 0.66x |
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.