NYSE · Consumer Cyclical

Hilton Worldwide Holdings Inc.

HLT · Lodging

$310.55

▼ -8.06 (-2.53%)

Data cached · refreshes every 10 min

Mr. Market is currently offering Hilton Worldwide Holdings Inc. at $310.55.

The business passes 4 of 7 of Graham's defensive criteria — adequate but not exceptional.

Overall Grade

Defensive

Enterprising

Profitability B

Gross Profit Margin 28.2%

Operating Margin 22.4%

Net Income Margin 12.1%

Fin. Health F

Years to Pay Off Debt 9.0 yrs

Working Capital vs Long-Term Debt -$13.8B

Working Capital -$1.5B

Valuation A

Price-to-Book -13.12x

Cash Flow A

Free Cash Flow $1.9B

CapEx % of Net Income 12.7%

Owner Earnings $1.8B

4/7

Graham Score

Enterprising

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

Market Data

Market Cap $70.7B

Enterprise Value $85.1B

P/E (TTM) 47.34

Dividend Yield 0.19%

Exchange NYSE

Key Margins

Gross Profit 28.2%

Operating Margin 22.4%

Net Margin 12.1%

Company Info

Sector Consumer Cyclical

Industry Lodging

Employees 182000

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering Hilton Worldwide Holdings Inc. at $310.55.

The business passes 4 of 7 of Graham's defensive criteria — adequate but not exceptional.

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign..

Conclusion: This stock is better suited for Graham's Enterprising investor — one willing to devote time and skill to security selection.

About Hilton Worldwide Holdings Inc.

Hilton Worldwide Holdings Inc., a hospitality company, engages in managing, franchising, and leasing hotels and resorts. It operates in two segments, Management and Franchise, and Ownership. The company engages in the hotel management and licensing of its brand names, trademarks, and service marks. It operates a brand portfolio of luxury, lifestyle, full service, focused service, all-suites hotel, and timeshare under the Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, Conrad Hotels & Resorts, Signia by Hilton, NoMad, Canopy by Hilton, Graduate by Hilton, Tempo by Hilton, Motto by Hilton, Hilton Hotels & Resorts, DoubleTree by Hilton, Curio Collection by Hilton, Tapestry Collection by Hilton, Outset Collection by Hilton, Embassy Suites by Hilton, Homewood Suites by Hilton, Home2 Suites by Hilton, LivSmart Studios by Hilton, Hilton Garden Inn, Hampton by Hilton, Tru by Hilton, Spark by Hilton, Hilton Grand Vacations, Small Luxury Hotels of the World, AutoCamp, and Hilton Honors brand names. The company has operations in North America, South America, and Central America, including various Caribbean nations; Europe, the Middle East, and Africa; and the Asia Pacific. Hilton Worldwide Holdings Inc. was founded in 1919 and is headquartered in McLean, Virginia.

Showing Key Metrics

Income Highlights

Metric	2025	2024	2023	2022	2021
Gross Profit %	28.2% ▲	27.4%	28.6%	30.8%	N/A
Operating Margin %	22.4% ▲	21.2%	22.1%	23.9%	N/A
Net Income %	12.1% ▼	13.7%	11.1%	14.3%	N/A
Diluted EPS	6.12 ▼	6.14	4.33	4.53	N/A

Balance Sheet Highlights

Metric	2025	2024	2023	2022	2021
Total Assets	$16.8B	$16.5B	$15.4B	$15.5B	N/A
Total Debt	$13.1B ↑	$11.9B	$10.1B	$9.7B	N/A
Working Capital	-$1.5B ▼	-$1.4B	-$1.1B	-$502M	N/A
Years to Pay Debt	8.99	7.74	8.87	7.72	N/A

Cash Flow Highlights

Metric	2025	2024	2023	2022	2021
Free Cash Flow	$1.9B ▲	$1.8B	$1.7B	$1.6B	N/A
Owner Earnings	$1.8B	$1.9B	$1.5B	$1.5B	N/A
CapEx % of Net Income	12.7%	12.9%	21.6%	8.1%	N/A

Income Statement

	2025	2024	2023	2022	2021
Tax Effect Of Unusual Items	-3,245	-958	-17,266	1,375
Tax Rate For Calcs	0	0	0	0
Normalized EBITDA	2,880,000	2,505,000	2,357,000	2,306,000
Total Unusual Items	-11,000	-7,000	-54,000	5,000
Total Unusual Items Excluding Goodwill	-11,000	-7,000	-54,000	5,000
Net Income From Continuing Operation Net Minority Interest	1,457,000	1,535,000	1,141,000	1,255,000
Reconciled Depreciation	177,000	146,000	147,000	162,000
Reconciled Cost Of Revenue	8,644,000	8,111,000	7,305,000	6,075,000
EBITDA	2,869,000	2,498,000	2,303,000	2,311,000
EBIT	2,692,000	2,352,000	2,156,000	2,149,000
Net Interest Income	-620,000	-569,000	-464,000	-415,000
Interest Expense	620,000	569,000	464,000	415,000
Normalized Income	1,464,755	1,541,042	1,177,734	1,251,375
Net Income From Continuing And Discontinued Operation	1,457,000	1,535,000	1,141,000	1,255,000
Total Expenses	9,346,000	8,809,000	7,972,000	6,679,000
Total Operating Income As Reported	2,693,000	2,370,000	2,225,000	2,094,000
Diluted Average Shares	238,000	250,000	264,000	277,000
Basic Average Shares	236,000	248,000	262,000	275,000
Diluted EPS	0	0	0	0
Basic EPS	0	0	0	0
Diluted NI Availto Com Stockholders	1,457,000	1,535,000	1,141,000	1,255,000
Net Income Common Stockholders	1,457,000	1,535,000	1,141,000	1,255,000
Net Income	1,457,000	1,535,000	1,141,000	1,255,000
Minority Interests	-4,000	-4,000	-10,000	-2,000
Net Income Including Noncontrolling Interests	1,461,000	1,539,000	1,151,000	1,257,000
Net Income Continuous Operations	1,461,000	1,539,000	1,151,000	1,257,000
Tax Provision	611,000	244,000	541,000	477,000
Pretax Income	2,072,000	1,783,000	1,692,000	1,734,000
Other Income Expense	-1,000	-13,000	-107,000	55,000
Other Non Operating Income Expenses	10,000	-6,000	39,000	50,000
Special Income Charges	0	5,000	-38,000	0
Gain On Sale Of Ppe	0	5,000	0	0
Other Special Charges					69,000
Impairment Of Capital Assets	0	0	38,000	0
Earnings From Equity Interest	0	0	-92,000	0
Gain On Sale Of Security	-11,000	-12,000	-16,000	5,000
Net Non Operating Interest Income Expense	-620,000	-569,000	-464,000	-415,000
Interest Expense Non Operating	620,000	569,000	464,000	415,000
Operating Income	2,693,000	2,365,000	2,263,000	2,094,000
Operating Expense	702,000	698,000	667,000	604,000
Other Operating Expenses	132,000	137,000	112,000	60,000
Depreciation Amortization Depletion Income Statement	177,000	146,000	147,000	162,000
Depreciation And Amortization In Income Statement	177,000	146,000	147,000	162,000
Selling General And Administration	393,000	415,000	408,000	382,000
General And Administrative Expense	393,000	415,000	408,000	382,000
Other Gand A	393,000	415,000	408,000	382,000
Gross Profit	3,395,000	3,063,000	2,930,000	2,698,000
Cost Of Revenue	8,644,000	8,111,000	7,305,000	6,075,000
Total Revenue	12,039,000	11,174,000	10,235,000	8,773,000
Operating Revenue	4,702,000	4,514,000	4,230,000	3,634,000

Balance Sheet

	2025	2024	2023	2022	2021
Treasury Shares Number	106,541	94,088	80,807	65,217
Ordinary Shares Number	230,433	241,806	253,488	267,860
Share Issued	336,974	335,894	334,295	333,077
Net Debt	11,445,000	9,850,000	8,396,000	7,538,000
Total Debt	13,093,000	11,886,000	10,120,000	9,691,000
Tangible Book Value	-17,169,000	-15,181,000	-13,495,000	-12,022,000
Invested Capital	6,975,000	7,424,000	6,836,000	7,645,000
Working Capital	-1,512,000	-1,428,000	-1,108,000	-502,000
Net Tangible Assets	-17,169,000	-15,181,000	-13,495,000	-12,022,000
Capital Lease Obligations	730,000	735,000	924,000	944,000
Common Stock Equity	-5,388,000	-3,727,000	-2,360,000	-1,102,000
Total Capitalization	6,950,000	6,889,000	6,797,000	7,606,000
Total Equity Gross Minority Interest	-5,346,000	-3,689,000	-2,347,000	-1,098,000
Minority Interest	42,000	38,000	13,000	4,000
Stockholders Equity	-5,388,000	-3,727,000	-2,360,000	-1,102,000
Gains Losses Not Affecting Retained Earnings	-729,000	-782,000	-731,000	-706,000
Other Equity Adjustments	-729,000	-782,000	-731,000	-706,000
Treasury Stock	14,428,000	11,256,000	8,393,000	6,040,000
Retained Earnings	-1,508,000	-2,822,000	-4,207,000	-5,190,000
Additional Paid In Capital	11,274,000	11,130,000	10,968,000	10,831,000
Capital Stock	3,000	3,000	3,000	3,000
Common Stock	3,000	3,000	3,000	3,000
Total Liabilities Net Minority Interest	22,120,000	20,211,000	17,748,000	16,610,000
Total Non Current Liabilities Net Minority Interest	17,612,000	15,511,000	14,026,000	13,238,000
Other Non Current Liabilities	2,574,000	2,538,000	1,609,000	1,351,000
Employee Benefits		17,000	34,000	40,000	25,000
Non Current Pension And Other Postretirement Benefit Plans		17,000	34,000	40,000	25,000
Tradeand Other Payables Non Current		618,000	645,000	349,000	385,000
Non Current Deferred Liabilities	1,970,000	1,622,000	1,619,000	1,812,000
Non Current Deferred Revenue	1,648,000	1,300,000	1,132,000	986,000
Non Current Deferred Taxes Liabilities	322,000	322,000	401,000	735,000
Long Term Debt And Capital Lease Obligation	13,068,000	11,351,000	9,965,000	9,540,000
Long Term Capital Lease Obligation	730,000	735,000	808,000	832,000
Long Term Debt	12,338,000	10,616,000	9,157,000	8,708,000
Long Term Provisions		158,000	154,000	146,000	151,000
Current Liabilities	4,508,000	4,700,000	3,722,000	3,372,000
Other Current Liabilities	2,583,000	2,455,000	1,917,000	1,779,000
Current Deferred Liabilities	858,000	664,000	502,000	433,000
Current Deferred Revenue	858,000	664,000	502,000	433,000
Current Debt And Capital Lease Obligation	25,000	535,000	155,000	151,000
Current Capital Lease Obligation		117,000	116,000	112,000	194,000
Current Debt	25,000	535,000	39,000	39,000
Other Current Borrowings		535,000	39,000	39,000
Pensionand Other Post Retirement Benefit Plans Current	666,000	637,000	592,000	555,000
Current Provisions		114,000	99,000	86,000	84,000
Payables And Accrued Expenses	376,000	409,000	457,000	368,000
Payables	376,000	409,000	457,000	368,000
Accounts Payable	376,000	409,000	457,000	368,000
Total Assets	16,774,000	16,522,000	15,401,000	15,512,000
Total Non Current Assets	13,778,000	13,250,000	12,787,000	12,642,000
Other Non Current Assets	484,000	500,000	512,000	576,000
Non Current Deferred Assets	252,000	318,000	140,000	204,000
Non Current Deferred Taxes Assets	252,000	318,000	140,000	204,000
Goodwill And Other Intangible Assets	11,781,000	11,454,000	11,135,000	10,920,000
Other Intangible Assets	6,700,000	6,419,000	6,083,000	5,888,000
Goodwill	5,081,000	5,035,000	5,052,000	5,032,000
Net PPE	1,261,000	978,000	1,000,000	942,000
Accumulated Depreciation	-486,000	-499,000	-520,000	-489,000
Gross PPE	1,747,000	1,477,000	1,520,000	1,431,000
Construction In Progress	57,000	65,000	37,000	24,000
Other Properties	903,000	661,000	704,000	744,000
Machinery Furniture Equipment	385,000	375,000	407,000	299,000
Buildings And Improvements	394,000	368,000	364,000	355,000
Land And Improvements	8,000	8,000	8,000	9,000
Current Assets	2,996,000	3,272,000	2,614,000	2,870,000
Other Current Assets	117,000	120,000	121,000	152,000
Restricted Cash	52,000	75,000	75,000	77,000
Prepaid Assets	219,000	193,000	131,000	105,000
Receivables	1,690,000	1,583,000	1,487,000	1,327,000
Accounts Receivable	1,690,000	1,583,000	1,487,000	1,327,000
Allowance For Doubtful Accounts Receivable	-163,000	-145,000	-131,000	-117,000
Gross Accounts Receivable	1,853,000	1,728,000	1,618,000	1,444,000
Cash Cash Equivalents And Short Term Investments	918,000	1,301,000	800,000	1,209,000
Cash And Cash Equivalents	918,000	1,301,000	800,000	1,209,000

Cash Flow

	2025	2024	2023	2022	2021
Free Cash Flow	1,944,000	1,815,000	1,699,000	1,579,000
Repurchase Of Capital Stock	-3,182,000	-2,893,000	-2,338,000	-1,590,000
Repayment Of Debt	-1,916,000	-330,000	-183,000	-48,000
Issuance Of Debt	2,875,000	2,283,000	609,000	23,000
Capital Expenditure	-185,000	-198,000	-247,000	-102,000
Interest Paid Supplemental Data	648,000	562,000	492,000	385,000
Income Tax Paid Supplemental Data	523,000	492,000	478,000	389,000
End Cash Position	970,000	1,376,000	875,000	1,286,000
Beginning Cash Position	1,376,000	875,000	1,286,000	1,512,000
Effect Of Exchange Rate Changes	3,000	-21,000	-12,000	-19,000
Changes In Cash	-409,000	522,000	-399,000	-207,000
Financing Cash Flow	-2,348,000	-1,045,000	-2,040,000	-1,765,000
Cash Flow From Continuing Financing Activities	-2,348,000	-1,045,000	-2,040,000	-1,765,000
Net Other Financing Charges	-58,000	-48,000	-21,000	-56,000
Proceeds From Stock Option Exercised	76,000	93,000	51,000	29,000
Cash Dividends Paid	-143,000	-150,000	-158,000	-123,000
Common Stock Dividend Paid	-143,000	-150,000	-158,000	-123,000
Net Common Stock Issuance	-3,182,000	-2,893,000	-2,338,000	-1,590,000
Common Stock Payments	-3,182,000	-2,893,000	-2,338,000	-1,590,000
Net Issuance Payments Of Debt	959,000	1,953,000	426,000	-25,000
Net Long Term Debt Issuance	959,000	1,953,000	426,000	-25,000
Long Term Debt Payments	-1,916,000	-330,000	-183,000	-48,000
Long Term Debt Issuance	2,875,000	2,283,000	609,000	23,000
Investing Cash Flow	-190,000	-446,000	-305,000	-123,000
Cash Flow From Continuing Investing Activities	-190,000	-446,000	-305,000	-123,000
Net Other Investing Changes	-3,000		-17,000	-47,000	27,000
Net Investment Purchase And Sale	5,000	-7,000	-26,000	79,000
Sale Of Investment	5,000
Purchase Of Investment		-7,000	-26,000
Net Business Purchase And Sale	-7,000	-241,000	-15,000	-53,000
Purchase Of Business	-7,000	-241,000	-15,000	-53,000
Capital Expenditure Reported	-185,000	-198,000	-247,000	-102,000
Operating Cash Flow	2,129,000	2,013,000	1,946,000	1,681,000
Cash Flow From Continuing Operating Activities	2,129,000	2,013,000	1,946,000	1,681,000
Change In Working Capital	525,000	504,000	880,000	179,000
Change In Other Working Capital	542,000	330,000	215,000	174,000
Change In Other Current Liabilities	-117,000	184,000	621,000	20,000
Change In Other Current Assets	10,000	5,000	16,000	78,000
Change In Payables And Accrued Expense	212,000	155,000	181,000	198,000
Change In Payable	212,000	155,000	181,000	198,000
Change In Account Payable	212,000	155,000	181,000	198,000
Change In Prepaid Assets	-23,000	-67,000	-27,000	-21,000
Change In Receivables	-99,000	-103,000	-126,000	-270,000
Changes In Account Receivables	-99,000	-103,000	-126,000	-270,000
Other Non Cash Items	-279,000	-112,000	-283,000	-108,000
Stock Based Compensation	170,000	176,000	169,000	162,000
Asset Impairment Charge	0	0	38,000	0
Deferred Tax	64,000	-247,000	-264,000	34,000
Deferred Income Tax	64,000	-247,000	-264,000	34,000
Depreciation Amortization Depletion	177,000	146,000	147,000	162,000
Depreciation And Amortization	177,000	146,000	147,000	162,000
Operating Gains Losses	11,000	7,000	108,000	-5,000
Earnings Losses From Equity Investments	0	0	92,000	0
Net Foreign Currency Exchange Gain Loss	11,000	12,000	16,000	-5,000
Net Income From Continuing Operations	1,461,000	1,539,000	1,151,000	1,257,000

These metrics estimate what Hilton Worldwide Holdings Inc. is worth based on its fundamentals — independent of what the market currently prices it at. Graham's Fair Value and NCAV are conservative floors rooted in 1930s–60s principles. EPV assumes zero growth. None are price targets — they are reference points for judging whether the current price offers a margin of safety.

Graham's Fair Value

N/A

Margin of Safety

—

Market Cap ÷ Company Value

-1.30

P/B Ratio

-13.12

Warren's Owner Earnings

$1.8B

Latest fiscal year

Graham's 7 Criteria

Defensive Investor Checklist

4/7 — Enterprising Investor

✅ Adequate Size

$12.0B

vs > $1.5B revenue

❌ Strong Financial Condition

0.66x

vs Current Ratio > 2.0x

✅ Earnings Stability

No loss years (4 yrs data)

vs No negative EPS years

✅ Dividend Record

0.19%

vs Uninterrupted dividends

✅ Earnings Growth

+35.1% EPS growth

vs > 33% EPS growth

❌ Moderate P/E Ratio

47.3x

vs P/E ≤ 15.0x

❌ Moderate Price-to-Book

N/A (negative book value)

vs P/B ≤ 1.5x | P/E × P/B ≤ 22.5

Net Current Asset Value

$-84.01

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign.

"Buy at two-thirds of net current assets." — Graham

Earnings Power Value

N/A

Per share, no-growth floor. Compare to current price.

Cash Flow Analysis

Metric	2025	2024	2023	2022	2021
Capital Expenditure % of Net Income	12.7%	12.9%	21.6%	8.1%	N/A
Repurchase of Capital Stock	-$3.2B	-$2.9B	-$2.3B	-$1.6B	N/A
Free Cash Flow	$1.9B ▲	$1.8B ▲	$1.7B ▲	$1.6B •	N/A •
Warren's Owner Earnings	$1.8B	$1.9B	$1.5B	$1.5B	N/A

Peers & Industry

No auto-detected peers for Lodging. You can manually compare HLT against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

2.19%

Low — management has little skin in the game

Return on Assets (ROA)

8.7%

Strong — management uses assets efficiently

Share Buybacks (Latest Year)

$3.2B

Management is returning capital to shareholders via buybacks

Debt Trend YoY

+10.2% YoY

Debt is growing — management is leveraging up

Leadership Team

Christopher Nassetta

President, CEO & Director

Age 62

Pay: $4,574,717

0.314% of net income

Kevin Jacobs

Executive VP & Chief Financial Officer

Age 53

Pay: $2,189,785

0.150% of net income

Christopher Silcock

President of Global Brands and Commercial Services

Age 53

Pay: $2,140,968

0.147% of net income

Charlie Ruehr

Vice President of Corporate Finance & Investor Relations

Frank Passanante

Senior Vice President of Group Sales

Top Institutional Holders

Institution	% Owned	Shares
Vanguard Group Inc	11.12%	25,309,726
Blackrock Inc.	9.08%	20,673,687
FMR, LLC	4.54%	10,331,737
JPMORGAN CHASE & CO	4.28%	9,742,967
State Street Corporation	4.18%	9,519,648
Principal Financial Group, Inc.	4.12%	9,371,706
Geode Capital Management, LLC	2.83%	6,448,978
Franklin Resources, Inc.	2.77%	6,294,665

⚠️ Current ratio below 1 — liquidity risk

Risk Analysis

Beta (Market Risk)

1.07

Moderate volatility — moves slightly more than market

Short Interest

2.9% of float

Low short interest — market is not heavily bearish

Current Ratio

0.61x

Weak liquidity — current liabilities exceed current assets

52-Week Price Range

Low: $235.99 Current: $310.55 High: $344.75

Currently at 69% of 52-week range

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