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Hilton Grand Vacations

HGV NYSE Hotels, Resorts & Cruise Lines Financials FY2016–FY2025

Hilton Grand Vacations' revenue rose 1.3% to $5.0 billion in fiscal 2025. Its net margin was 1.6%, up from 0.9% a year earlier. Free cash flow was $230 million, down 13.9%. It paid out $600 million in dividends and buybacks, 261% of free cash flow. The diluted share count fell 11.2%.

Last close · Oct 23, 2026

$35.89

3.2%
Value it Compare
Revenue Total sales reported in the income statement.
$5.0B
1.3% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$81.0M
72.3%
Free cash flow Cash from operations minus capital spending.
$230M
13.9%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
4.6%
0.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$2.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
20.5x
On $1.75 EPS (TTM)

What Hilton Grand Vacations does

No business description yet.

Legal name
Hilton Grand Vacations Inc.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001674168-26-000017
0001674168

Revenue and margins

Hilton Grand Vacations had $5.0B of revenue in fiscal 2025, up 1.3% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew −6.9% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $230M in fiscal 2025, 4.6% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Hilton Grand Vacations returned $600M to shareholders in fiscal 2025, 261% of free cash flow. The diluted share count fell 11.3%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Hilton Grand Vacations yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$4.3B and divides by 91.5M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 20.5x · peers — · sector 17.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably Hilton Grand Vacations can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $432M$223M$589M$328M$239M
Debt incl. finance leases $2.9B$2.7B$3.0B$4.6B$4.5B
Net debt / EBITDA 5.0x2.8x2.9x5.8x5.7x
Debt / equity 1.5x1.2x1.4x2.6x3.5x
Interest coverage 3.6x4.4x3.5x1.4x1.6x
Total assets $8.0B$8.0B$8.7B$11.4B$11.5B
Total liabilities $6.0B$5.9B$6.6B$9.5B$10.1B
Shareholders' equity $2.0B$2.2B$2.1B$1.8B$1.3B
Net debt (− = net cash) $2.5B$2.4B$2.5B$4.3B$4.3B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$14.1M

3 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 6, 2026 Charles R. Corbin Jr.See Remarks Sold 20,691 $46.90 $1.0M Form 4
May 28, 2026 Mark D WangSee Remarks, Director Sold 190,813 $51.93 $9.9M Form 4
May 21, 2026 Charles R. Corbin Jr.See Remarks Sold 32,907 $47.66 $1.6M Form 4
May 19, 2026 Carlos HernandezSee Remarks Sold 5,595 $46.69 $0.3M Form 4
Nov 7, 2025 Carlos HernandezSee Remarks Sold 2,867 $39.99 $0.1M Form 4
Nov 3, 2025 Charles R. Corbin Jr.See Remarks Sold 30,426 $41.81 $1.3M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✓
Cash from operations exceeds net income ✕ ✓ ✓
Debt fell relative to assets ✕ ✕ ✓
Current ratio rose — — —
Share count didn't rise ✓ ✓ ✓
Gross margin rose — — —
Revenue rose relative to assets ✓ ✓ ✕
F-score — / 9— / 9— / 9
Accruals ratio 0.0%−2.6%−1.9%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Hilton Grand Vacations HGV $2.9B 1.3% — 4.6% 4.6% 20.5x —
Marriott Vacations Worldwide VAC $4.2B 1.3% — −0.6% — — — Compare →
IHG Hotels & Resorts IHG $25.3B 5.4% 23.1% 16.8% — — 8 Compare →
Travel + Leisure TNL $4.1B 4.1% 13.8% 13.0% 8.5% 17.5x — Compare →
Hyatt H $16.7B 6.8% — 2.2% 3.0% — 4 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.6B $1.7B $2.0B $1.8B $894M $2.3B $3.8B $4.0B $5.0B $5.0B
Interest expense $3.0M $27.0M $30.0M $43.0M $43.0M $105M $142M $178M $329M $311M
Pretax income $293M $311M $403M $273M −$280M $269M $481M $449M $136M $175M
Income tax $125M −$16.0M $105M $57.0M −$79.0M $93.0M $129M $136M $76.0M $76.0M
Net income $168M $327M $298M $216M −$201M $176M $352M $313M $47.0M $81.0M
Diluted EPS $1.70 $3.28 $3.05 $2.42 −$2.36 $1.75 $2.93 $2.80 $0.45 $0.89
Diluted shares 0.10B 0.10B 0.10B 0.09B 0.09B 0.10B 0.12B 0.11B 0.10B 0.09B
Cash flow
Cash from operations $182M $356M −$164M $143M $79.0M $168M $747M $312M $309M $300M
Capital expenditure $26.0M $35.0M $44.0M $37.0M $8.0M $18.0M $58.0M $31.0M $42.0M $70.0M
Free cash flow $156M $321M −$208M $106M $71.0M $150M $689M $281M $267M $230M
Depreciation and amortization $24.0M $29.0M $33.0M $44.0M $45.0M $126M $244M $213M $268M $273M
Stock-based compensation $0.0M $15.0M $16.0M $22.0M $15.0M $48.0M $46.0M $40.0M $47.0M $64.0M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $1.6B $0.0M $74.0M $1.4B $0.0M
Share buybacks $0.0M $0.0M $183M $283M $10.0M $0.0M $272M $368M $432M $600M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $183M $283M $10.0M $0.0M $272M $368M $432M $600M
Balance sheet
Cash and short-term investments $48.0M $246M $108M $67.0M $428M $432M $223M $589M $328M $239M
Total debt $490M $482M $604M $828M $1.2B $2.9B $2.7B $3.0B $4.6B $4.5B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $256M $238M $559M $778M $501M $756M $798M $758M $792M $859M
Total assets $2.2B $2.4B $2.8B $3.1B $3.1B $8.0B $8.0B $8.7B $11.4B $11.5B
Total liabilities $2.0B $1.9B $2.1B $2.5B $2.8B $6.0B $5.9B $6.6B $9.5B $10.1B
Shareholders' equity $167M $518M $616M $570M $374M $2.0B $2.2B $2.1B $1.8B $1.3B
Margins
EBITDA margin 20.2% 21.5% 23.3% 19.6% −21.5% 21.4% 22.6% 21.1% 14.7% 15.0%
Net margin 10.6% 19.1% 14.9% 11.7% −22.5% 7.5% 9.2% 7.9% 0.9% 1.6%
FCF margin 9.9% 18.8% −10.4% 5.8% 7.9% 6.4% 18.0% 7.1% 5.4% 4.6%
Returns
Return on capital — 49.6% 34.3% 20.5% −15.4% 8.8% 10.1% 9.6% 4.3% 4.6%
Return on equity — 95.4% 52.6% 36.4% −42.6% 14.9% 17.0% 14.7% 2.4% 5.3%
Return on assets — 14.3% 11.6% 7.4% −6.5% 3.2% 4.4% 3.8% 0.5% 0.7%
Growth
Revenue growth 7.3% 8.1% 16.8% −8.1% −51.4% 161.2% 64.2% 3.7% 25.2% 1.3%
Net income growth −3.7% 95.0% −8.8% −27.7% −193.2% — 100.0% −11.1% −85.0% 72.3%
EPS growth −3.4% 92.9% −7.0% −20.7% −197.5% — 67.4% −4.4% −83.9% 97.8%
FCF growth 11.4% 105.8% −164.8% — −33.0% 111.3% 359.3% −59.2% −5.0% −13.9%
Share count change 0.0% 0.6% −1.7% −8.8% −4.8% 18.9% 18.3% −6.7% −7.6% −11.3%
Financial health
Net debt / EBITDA 1.4x 0.6x 1.1x 2.1x — 5.0x 2.8x 2.9x 5.8x 5.7x
Debt / equity 2.9x 0.9x 1.0x 1.5x 3.1x 1.5x 1.2x 1.4x 2.6x 3.5x
Interest coverage 98.7x 12.5x 14.4x 7.4x −5.5x 3.6x 4.4x 3.5x 1.4x 1.6x
Capital allocation
Capex / revenue 1.6% 2.1% 2.2% 2.0% 0.9% 0.8% 1.5% 0.8% 0.8% 1.4%
Stock comp / revenue 0.0% 0.9% 0.8% 1.2% 1.7% 2.1% 1.2% 1.0% 0.9% 1.3%
Payouts / FCF 0.0% 0.0% — 267.0% 14.1% 0.0% 39.5% 131.0% 161.8% 260.9%
Quality scores
Accruals ratio — −1.3% 18.0% 2.5% −9.0% 0.1% −4.9% 0.0% −2.6% −1.9%

Source: SEC EDGAR XBRL filings (CIK 0001674168). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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