HLT vs IHG: Hilton Worldwide and InterContinental Hotels Group PLC ADR compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Hilton Worldwide is the larger company, worth $75.3B, about 3.2 times InterContinental Hotels Group PLC ADR.
- Hilton Worldwide grew revenue faster over the last year (+6.5% vs +5.4%).
- Hilton Worldwide keeps more of each dollar of revenue as operating profit (23.4% vs 23.1%).
- On earnings, InterContinental Hotels Group PLC ADR is the cheaper stock (33.0x vs 50.4x).
- Hilton Worldwide's price assumes faster free cash flow growth: about 13% a year, against 9% for InterContinental Hotels Group PLC ADR (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HLT | IHG |
|---|---|---|
| Market cap | $75.3B | $23.9B |
| Share price | $326.56 | $160.68 |
| Revenue (last fiscal year) | $12.0B | $5.2B |
| Free cash flow (last fiscal year) | $2.0B | $870M |
| Revenue growth, last year | +6.5% | +5.4% |
| Revenue growth per year, last 5 fiscal years | +20.1% | +15.6% |
| Operating margin | 23.4% | 23.1% |
| Net margin | 12.7% | 14.6% |
| Return on equity | — | — |
| P/E (trailing) | 50.4x | 33.0x |
| Price / free cash flow | 37.1x | 27.4x |
| EV / EBITDA | 28.5x | 20.5x |
| FCF growth the price implies | 13.1% | 9.1% |
| Dividend yield | 0.18% | 1.1% |
| Debt / equity | — | — |
| Fundamental grade | D | C |
| Superinvestors holding it | 8 | 0 |
| Insider purchases, last 12 months | 8 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Hilton Worldwide
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $5.8B | $74M | 17.4% |
| 2022 | $8.8B | $1.6B | 23.9% |
| 2023 | $10.2B | $1.8B | 21.7% |
| 2024 | $11.2B | $1.9B | 21.2% |
| 2025 | $12.0B | $2.0B | 22.4% |
InterContinental Hotels Group PLC ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.9B | $584M | 17.0% |
| 2022 | $3.9B | $547M | 16.1% |
| 2023 | $4.6B | $811M | 23.1% |
| 2024 | $4.9B | $646M | 21.1% |
| 2025 | $5.2B | $870M | 23.1% |
Where the revenue comes from
Hilton Worldwide · by products, 2025
Cost reimbursement revenues$7.1B59%
Franchise and licensing fees$2.8B23%
Ownership$1.2B10%
Base and other management fees$376M3%
Incentive management fees$313M3%
Other revenues$252M2%
InterContinental Hotels Group PLC ADR · by segments, 2025
Americas$1.1B46%
EMEAA$811M33%
Central$363M15%
Greater China$165M7%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HLT in InvestinglyQuestions
Which is bigger, Hilton Worldwide or InterContinental Hotels Group PLC ADR?
Hilton Worldwide (HLT), at $75.3B against $23.9B.
Is HLT or IHG cheaper?
By trailing P/E, InterContinental Hotels Group PLC ADR (33.0x) is cheaper than Hilton Worldwide (50.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, HLT or IHG?
Hilton Worldwide: revenue grew +6.5% over the last year, against +5.4%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.