HLT vs MAR: Hilton Worldwide and Marriott International compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Marriott International is the larger company, worth $102.1B, about 1.4 times Hilton Worldwide.
- Hilton Worldwide grew revenue faster over the last year (+6.5% vs +4.8%).
- Hilton Worldwide keeps more of each dollar of revenue as operating profit (23.4% vs 15.8%).
- On earnings, Marriott International is the cheaper stock (40.5x vs 50.4x).
- Marriott International's price assumes faster free cash flow growth: about 14% a year, against 13% for Hilton Worldwide (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 | MAR |
|---|---|---|
| Market cap | $75.3B | $102.1B |
| Share price | $326.56 | $365.88 |
| Revenue (last fiscal year) | $12.0B | $26.2B |
| Free cash flow (last fiscal year) | $2.0B | $2.6B |
| Revenue growth, last year | +6.5% | +4.8% |
| Revenue growth per year, last 5 fiscal years | +20.1% | +17.2% |
| Operating margin | 23.4% | 15.8% |
| Net margin | 12.7% | 9.6% |
| Return on equity | — | — |
| P/E (trailing) | 50.4x | 40.5x |
| Price / free cash flow | 37.1x | 39.1x |
| EV / EBITDA | 28.5x | 23.7x |
| FCF growth the price implies | 13.1% | 13.8% |
| Dividend yield | 0.18% | 0.69% |
| Debt / equity | — | — |
| Fundamental grade | D | D |
| Superinvestors holding it | 8 | 10 |
| Insider purchases, last 12 months | 8 | 3 |
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% |
Marriott International
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $13.9B | $994M | 12.6% |
| 2022 | $20.8B | $2.0B | 16.7% |
| 2023 | $23.7B | $2.7B | 16.3% |
| 2024 | $25.1B | $2.0B | 15.0% |
| 2025 | $26.2B | $2.6B | 15.8% |
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%
Marriott International · by segments, 2025
U.S. & Canada$19.3B83%
EMEA$2.4B10%
APEC$1.1B5%
Greater China$590M3%
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 Marriott International?
Marriott International (MAR), at $102.1B against $75.3B.
Is HLT or MAR cheaper?
By trailing P/E, Marriott International (40.5x) is cheaper than Hilton Worldwide (50.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, HLT or MAR?
Hilton Worldwide: revenue grew +6.5% over the last year, against +4.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.