Hyatt vs Hilton Grand Vacations
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The short version
- Hyatt is the larger business, with $7.1B of revenue in fiscal 2025 against $5.0B for Hilton Grand Vacations.
- Hyatt grew revenue faster (6.8%, against 1.3%).
- Hilton Grand Vacations turned more of its sales into free cash flow (4.6% FCF margin, against 2.2%).
- Hilton Grand Vacations earned a higher return on the capital invested in it (4.6%, against 3.0%).
| Latest fiscal year | H · FY25 | HGV · FY25 |
|---|---|---|
| Size | ||
| Market cap | $16.7B | $2.9B |
| Revenue | $7.1B | $5.0B |
| Free cash flow | $159M | $230M |
| Net income | −$52.0M | $81.0M |
| Growth | ||
| Revenue growth | 6.8% | 1.3% |
| 5-year growth | 28.0% | 41.4% |
| Share count change | −6.8% | −11.3% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | −0.7% | 1.6% |
| FCF margin | 2.2% | 4.6% |
| Return on capital | 3.0% | 4.6% |
| Return on equity | −1.5% | 5.3% |
| Balance sheet | ||
| Net debt | $3.5B | $4.3B |
| Net debt / EBITDA | 4.8x | 5.7x |
| Dividends and buybacks | $350M | $600M |
| Valuation & quality | ||
| P/E | — | 20.5x |
| Piotroski F-score | 4 | — |
Revenue
FY16
H $4.4B
HGV $1.6B
FY17
H $4.7B
HGV $1.7B
FY18
H $4.5B
HGV $2.0B
FY19
H $5.0B
HGV $1.8B
FY20
H $2.1B
HGV $894M
FY21
H $3.0B
HGV $2.3B
FY22
H $5.9B
HGV $3.8B
FY23
H $6.7B
HGV $4.0B
FY24
H $6.6B
HGV $5.0B
FY25
H $7.1B
HGV $5.0B
H
HGV
Operating margin
FY16
H —
HGV —
FY17
H —
HGV —
FY18
H —
HGV —
FY19
H —
HGV —
FY20
H —
HGV —
FY21
H —
HGV —
FY22
H —
HGV —
FY23
H —
HGV —
FY24
H —
HGV —
FY25
H —
HGV —
H
HGV
Free cash flow
FY16
H $251M
HGV $156M
FY17
H $289M
HGV $321M
FY18
H $44.0M
HGV −$208M
FY19
H $27.0M
HGV $106M
FY20
H −$733M
HGV $71.0M
FY21
H $204M
HGV $150M
FY22
H $473M
HGV $689M
FY23
H $602M
HGV $281M
FY24
H $463M
HGV $267M
FY25
H $159M
HGV $230M
H
HGV
Return on capital
FY16
H 5.2%
HGV —
FY17
H 8.8%
HGV 49.6%
FY18
H 17.7%
HGV 34.3%
FY19
H 17.7%
HGV 20.5%
FY20
H −14.2%
HGV −15.4%
FY21
H 1.9%
HGV 8.8%
FY22
H 8.5%
HGV 10.1%
FY23
H 5.7%
HGV 9.6%
FY24
H 24.2%
HGV 4.3%
FY25
H 3.0%
HGV 4.6%
H
HGV
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.