Hilton Worldwide (HLT) financial statements
Hilton Worldwide reported revenue of $12.0B in fiscal 2025, up 7.0% a year over 9 years.
Net income was $1.5B and the operating margin 22.4%, against 13.2% in 2016.
Free cash flow was $2.0B, and the company returned $143M in dividends and $3.2B in net buybacks.
The diluted share count fell 28% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Hilton Worldwide's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.6B | $8.1B | $8.9B | $9.5B | $4.3B | $5.8B | $8.8B | $10.2B | $11.2B | $12.0B |
| Selling, general and admin | $409M | $439M | $443M | $441M | $311M | $405M | $382M | $408M | $415M | $393M |
| Operating income | $868M | $1.1B | $1.4B | $1.7B | -$418M | $1.0B | $2.1B | $2.2B | $2.4B | $2.7B |
| Interest expense | $334M | $351M | $371M | $414M | $429M | $397M | $415M | $464M | $569M | $620M |
| Pre-tax income | $540M | $753M | $1.1B | $1.2B | -$924M | $560M | $1.7B | $1.7B | $1.8B | $2.1B |
| Income tax | -$557M | $336M | -$309M | $358M | -$204M | $153M | $477M | $541M | $244M | $611M |
| Net income | $338M | $1.1B | $764M | $881M | -$715M | $410M | $1.3B | $1.1B | $1.5B | $1.5B |
| EPS (diluted) | $1.03 | $3.32 | $2.50 | $3.04 | -$2.58 | $1.46 | $4.53 | $4.33 | $6.14 | $6.12 |
| Diluted shares | 329M | 327M | 305M | 290M | 277M | 281M | 277M | 264M | 250M | 238M |
| Operating margin | 13.2% | 13.9% | 16.1% | 17.5% | -9.7% | 17.4% | 23.9% | 21.7% | 21.2% | 22.4% |
| Net margin | 5.1% | 13.3% | 8.6% | 9.3% | -16.6% | 7.1% | 14.3% | 11.1% | 13.7% | 12.1% |
Balance sheet
Fiscal years, from Hilton Worldwide's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.1B | $570M | $403M | $538M | $3.2B | $1.4B | $1.2B | $800M | $1.3B | $918M |
| Receivables | $755M | $1.0B | $1.1B | $1.3B | $771M | $1.1B | $1.3B | $1.5B | $1.6B | $1.7B |
| Inventory | $541M | — | — | — | — | — | — | — | — | — |
| Total current assets | $3.6B | $2.0B | $2.0B | $2.1B | $4.2B | $2.9B | $2.9B | $2.6B | $3.3B | $3.0B |
| Property, plant and equipment | $341M | $353M | $367M | $380M | $346M | $305M | $280M | $382M | $411M | $684M |
| Goodwill | $5.2B | $5.2B | $5.2B | $5.2B | $5.1B | $5.1B | $5.0B | $5.1B | $5.0B | $5.1B |
| Total assets | $26.2B | $14.2B | $14.0B | $15.0B | $16.8B | $15.4B | $15.5B | $15.4B | $16.5B | $16.8B |
| Total current liabilities | $2.7B | $2.5B | $2.6B | $2.9B | $2.4B | $3.0B | $3.4B | $3.7B | $4.7B | $4.5B |
| Long-term debt | $6.6B | $6.6B | $7.3B | $8.0B | $10.4B | $8.7B | $8.7B | $9.2B | $10.6B | $12.3B |
| Total liabilities | $20.4B | $12.5B | $13.4B | $15.4B | $18.2B | $16.3B | $16.6B | $17.7B | $20.2B | $22.1B |
| Shareholders' equity | $5.9B | $1.7B | $551M | -$482M | -$1.5B | -$821M | -$1.1B | -$2.4B | -$3.7B | -$5.4B |
| Net debt | $5.6B | $6.0B | $6.9B | $7.4B | $7.2B | $7.3B | $7.5B | $8.4B | $9.3B | $11.4B |
Cash flow
Fiscal years, from Hilton Worldwide's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.3B | $849M | $1.3B | $1.4B | $708M | $109M | $1.7B | $1.9B | $2.0B | $2.1B |
| Capital spending | $317M | $58M | $72M | $81M | $46M | $35M | $39M | $151M | $96M | $101M |
| Free cash flow | $993M | $791M | $1.2B | $1.3B | $662M | $74M | $1.6B | $1.8B | $1.9B | $2.0B |
| Stock-based compensation | $91M | $121M | $127M | $154M | $97M | $193M | $162M | $169M | $176M | $170M |
| Dividends paid | $277M | $195M | $181M | $172M | $42M | $0 | $123M | $158M | $150M | $143M |
| Share buybacks (net) | $0 | -$891M | -$1.7B | -$1.5B | -$296M | $0 | -$1.6B | -$2.3B | -$2.9B | -$3.2B |
| Free cash flow margin | 15.1% | 9.7% | 13.3% | 13.8% | 15.4% | 1.3% | 18.7% | 17.5% | 17.2% | 16.8% |
| Dividends per share | $0.84 | $0.60 | $0.59 | $0.59 | $0.15 | — | $0.44 | $0.60 | $0.60 | $0.60 |
Questions
What was Hilton Worldwide's revenue in 2025?
$12.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does Hilton Worldwide generate?
$2.0B in fiscal 2025 (operating cash flow minus capital spending).
From Hilton Worldwide's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.