HLT vs WH: Hilton Worldwide and Wyndham Hotels & Resorts 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 14.3 times Wyndham Hotels & Resorts.
- Hilton Worldwide grew revenue faster over the last year (+6.5% vs -5.5%).
- Wyndham Hotels & Resorts keeps more of each dollar of revenue as operating profit (30.3% vs 23.4%).
- On earnings, Wyndham Hotels & Resorts is the cheaper stock (28.0x vs 50.4x).
- Hilton Worldwide's price assumes faster free cash flow growth: about 13% a year, against 2% for Wyndham Hotels & Resorts (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 | WH |
|---|---|---|
| Market cap | $75.3B | $5.3B |
| Share price | $326.56 | $74.06 |
| Revenue (last fiscal year) | $12.0B | $1.4B |
| Free cash flow (last fiscal year) | $2.0B | $321M |
| Revenue growth, last year | +6.5% | -5.5% |
| Revenue growth per year, last 5 fiscal years | +20.1% | +3.5% |
| Operating margin | 23.4% | 30.3% |
| Net margin | 12.7% | 14.7% |
| Return on equity | — | 43.3% |
| P/E (trailing) | 50.4x | 28.0x |
| Price / free cash flow | 37.1x | 16.4x |
| EV / EBITDA | 28.5x | 10.9x |
| FCF growth the price implies | 13.1% | 2.4% |
| Dividend yield | 0.18% | 2.3% |
| Debt / equity | — | 8.03x |
| Fundamental grade | D | C |
| Superinvestors holding it | 8 | 5 |
| 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% |
Wyndham Hotels & Resorts
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.2B | $389M | 35.8% |
| 2022 | $1.4B | $360M | 41.2% |
| 2023 | $1.4B | $339M | 36.3% |
| 2024 | $1.4B | $241M | 35.3% |
| 2025 | $1.4B | $321M | 28.1% |
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%
Wyndham Hotels & Resorts · by segments, 2022
Hotel Franchising$1.3B85%
Hotel Management$221M15%
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 Wyndham Hotels & Resorts?
Hilton Worldwide (HLT), at $75.3B against $5.3B.
Is HLT or WH cheaper?
By trailing P/E, Wyndham Hotels & Resorts (28.0x) is cheaper than Hilton Worldwide (50.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, HLT or WH?
Hilton Worldwide: revenue grew +6.5% over the last year, against -5.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.