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Hyatt

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

Hyatt runs a global hotel business with brands such as Park Hyatt, Grand Hyatt, Hyatt Regency, Andaz, Hyatt Place and a range of all-inclusive beach resorts. At December 31, 2025, its system had 1,528 hotels and all-inclusive resorts with 372,763 rooms. It also sells vacation packages through ALG Vacations and offers stays at unaffiliated boutique and luxury hotels through its Mr & Mrs Smith travel platform.

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Last close Β· Oct 26, 2026

$171.96

0.4%
Value it Compare

What Hyatt does

H Β· Hotels, Resorts & Cruise Lines

From its latest annual report

Hyatt runs a global hotel business with brands such as Park Hyatt, Grand Hyatt, Hyatt Regency, Andaz, Hyatt Place and a range of all-inclusive beach resorts. At December 31, 2025, its system had 1,528 hotels and all-inclusive resorts with 372,763 rooms. It also sells vacation packages through ALG Vacations and offers stays at unaffiliated boutique and luxury hotels through its Mr & Mrs Smith travel platform.

Hyatt reports three segments. Management and franchising earns fees for running hotels that other people own, or for letting them use a Hyatt brand, and for licensing its name to co-branded credit cards and a vacation club. Owned and leased covers the hotels Hyatt owns or rents itself. Distribution covers ALG Vacations and Mr & Mrs Smith. Revenue in 2025 was $7,101 million, and about 30% came from outside the U.S. Hyatt says it competes with other major hotel chains, smaller chains and independent hotels, cruise lines, online travel sites, and home rental sites such as Airbnb and Vrbo.

About 242,000 people worked across Hyatt's offices and hotels at the end of 2025, but Hyatt directly employed about 50,000 of them; the rest work for hotel owners and franchisees. In June 2025 Hyatt bought Playa Hotels & Resorts, which owned 15 all-inclusive resorts in Mexico, the Dominican Republic and Jamaica. It then sold the resorts and signed long-term agreements to manage 13 of them.

Filing details

Legal name
Hyatt Hotels Corp
Fiscal year ends
December 31, 2025
Latest annual report
10-K Β· Feb 13, 2026
Accession Β· CIK
0001468174-26-000007 Β· 0001468174
Biggest risks, in its own words

Earnings calendar Β· Hyatt

Every quarter, companies publish how much they sold and earned. These are the days Hyatt did it, and the next one. Share prices often move a lot on those days.

Next results

October 29, 2026

Thursday Β· in 3 days

Time
Before the market opens
Covers
Period ended Sep 30, 2026
Expected EPS
$0.68
Source
Earnings calendar
See who else reports that week β†’
Date Results for Time Source
Jul 30, 2026 Q2 '26 Before the market opens 8-K β†—
Apr 30, 2026 Q1 '26 Before the market opens 8-K β†—
Feb 12, 2026 Q4 '25 Before the market opens 8-K β†—
Nov 6, 2025 Q3 '25 Before the market opens 8-K β†—
Aug 7, 2025 Q2 '25 Before the market opens 8-K β†—
May 1, 2025 Q1 '25 Before the market opens 8-K β†—
Feb 13, 2025 Q4 '24 Before the market opens 8-K β†—
Oct 31, 2024 Q3 '24 Before the market opens 8-K β†—

From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.

KIRA’s summary AI analyst

Hi! I read Hyatt’s latest annual report (fiscal 2025). Here is what stands out:

2 strengths 3 to watch

1.Sales and profit

See section β†’
  • Hyatt had $7.1B of revenue in fiscal 2025, up 6.8% on the year before. Over five years, revenue changed +28.0% a year on average.
  • Hyatt lost $52.0M in fiscal 2025.

2.Cash and shareholders

See section β†’
  • Free cash flow was $159M in fiscal 2025, 2.2% of revenue.
  • Hyatt returned $350M to shareholders in fiscal 2025, 220% of free cash flow. The diluted share count fell 6.8%.
  • In the last 12 months, insiders sold $123M of shares on the open market and bought none.

3.Financial health

See section β†’
  • Hyatt owes $3.5B more than it holds in cash, about 4.8 years of operating profit.
  • Its return on capital was 3.0%: every 100 invested in the business earned about 3 in a year.
  • Hyatt passes 4 of 8 financial health tests (Piotroski F-score).

Biggest risks, in its own words

  • Hotel demand falls in downturns, and disasters, disease, war or terrorism can keep travelers away.
  • Bookings shifting to online travel agents and other outside sites, which could weaken loyalty to its brands.
  • Its reliance on good relationships with the owners and franchisees of hotels it does not own.
  • Management and franchise agreements ending early, or guarantees it gave owners on hotel profits coming due.
  • Hotels in its development pipeline may not open, or may open later than planned.

Hyatt in 30 seconds

Good So-so Weak

Good

Are sales growing?

+6.8%

Yes. Sales grew 6.8% last year.

Weak

Does it make a profit?

βˆ’0.7%

No. It lost money last year.

So-so

Does profit turn into cash?

2.2%

Partly. 2.2% of sales ends up as free cash.

Weak

Is debt under control?

4.8x

Heavy. Repaying its debt would take 4.8 years of operating profit.

So-so

How healthy are the accounts?

4 / 8

Mixed. It passes 4 of 8 health tests.

Rules of thumb on reported numbers. A starting point, not a recommendation.

Key numbers, fiscal 2025

Market cap Last close times the latest diluted share count, so it is approximate.
$16.6B
Oct 26 close
P/E Last close divided by diluted earnings per share over the last four quarters.
β€”
On $0.82 EPS (TTM)

Revenue

Total sales reported in the income statement.

KIRA Β· Hyatt had $7.1B of revenue in fiscal 2025, up 6.8% on the year before. Over five years, revenue changed +28.0% a year on average.

See the full section β†’

Operating margin

Operating income as a share of revenue.

See the full section β†’

Net income

Profit after all expenses, interest and tax.

KIRA Β· Hyatt lost $52.0M in fiscal 2025.

See the full section β†’

Free cash flow

Cash from operations minus capital spending.

KIRA Β· Free cash flow was $159M in fiscal 2025, 2.2% of revenue.

See the full section β†’

Return on capital

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

KIRA Β· Its return on capital was 3.0%: every 100 invested in the business earned about 3 in a year.

See the full section β†’
Charts by

Sales and profit

Is it selling more, and how much does it keep?

Revenue and margins

KIRA Β· Hyatt had $7.1B of revenue in fiscal 2025, up 6.8% on the year before. Over five years, revenue changed +28.0% a year on average.

In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).

Revenue

Revenue

Margins, % of revenue

Gross Operating Net FCF

Margins, % of revenue

Gross Operating Net FCF

Net income and earnings per share

KIRA Β· Hyatt lost $52.0M in fiscal 2025.

Loss periods are shown in red.

In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.

Net income

Net income

Diluted EPS

Diluted EPS

Cash and shareholders

How much cash comes in, and where does it go?

Cash flow

KIRA Β· Free cash flow was $159M in fiscal 2025, 2.2% of revenue.

Cash from operations minus capital spending.

In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.

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

KIRA Β· Hyatt returned $350M to shareholders in fiscal 2025, 220% of free cash flow. The diluted share count fell 6.8%.

In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).

Dividends and buybacks

Dividends Buybacks

Dividends and buybacks

Dividends Buybacks

Diluted shares outstanding (annual)

Insider trades

KIRA Β· In the last 12 months, insiders sold $123M of shares on the open market and bought none.

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

In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$123M

14 insiders

Of sales under plans

2%

$2.6M

DateInsiderTradeSharesPriceValueFiling
Oct 16, 2026 Joan BottariniSee Remarks Sold plan 1,826 $172.00 $0.3M Form 4
Sep 14, 2026 Amar LalvaniSee Remarks Sold 1,364 $163.06 $0.2M Form 4
Aug 17, 2026 Susan D KronickDirector Sold plan 1,700 $179.88 $0.3M Form 4
Aug 3, 2026 Joan BottariniSee Remarks Sold plan 1,825 $170.37 $0.3M Form 4
Jun 22, 2026 Mark Samuel HoplamazianSee Remarks, Director Sold 84,791 $197.12 $16.7M Form 4
Jun 18, 2026 Mark Samuel HoplamazianSee Remarks, Director Sold 35,209 $203.29 $7.2M Form 4
Jun 2, 2026 David UdellSee Remarks Sold 2,087 $188.00 $0.4M Form 4
May 29, 2026 Peter SearsSee Remarks Sold 10,217 $185.66 $1.9M Form 4
May 29, 2026 Mark R VondrasekSee Remarks Sold 8,200 $185.26 $1.5M Form 4
May 22, 2026 Susan D KronickDirector Sold plan 1,119 $174.51 $0.2M Form 4
May 22, 2026 Cary D McMillanDirector Sold 1,119 $174.96 $0.2M Form 4
May 18, 2026 David UdellSee Remarks Sold 8,682 $172.00 $1.5M Form 4
May 15, 2026 Susan D KronickDirector Sold plan 1,700 $169.96 $0.3M Form 4
May 1, 2026 Joan BottariniSee Remarks Sold plan 1,825 $168.24 $0.3M Form 4
Apr 17, 2026 JNP Parachute Mirror Trust LSee Remarks Sold 42,689 $167.75 $7.2M Form 4
Apr 17, 2026 JNP Parachute Mirror Trust KSee Remarks Sold 35,573 $167.75 $6.0M Form 4
Apr 17, 2026 JNP 2010-PG TrustSee Remarks Sold 213,434 $167.75 $35.8M Form 4
Mar 23, 2026 Mark R VondrasekSee Remarks Sold 6,500 $147.18 $1.0M Form 4
Mar 23, 2026 Kinsey WolfSee Remarks Sold 400 $147.28 $0.1M Form 4
Mar 19, 2026 Kinsey WolfSee Remarks Sold 400 $144.34 $0.1M Form 4
Feb 25, 2026 Susan D KronickDirector Sold plan 1,700 $166.07 $0.3M Form 4
Feb 25, 2026 Amar LalvaniSee Remarks Sold 739 $163.63 $0.1M Form 4
Feb 19, 2026 Joan BottariniSee Remarks Sold plan 1,825 $166.61 $0.3M Form 4
Dec 23, 2025 Javier AguilaSee Remarks Sold 9,548 $165.87 $1.6M Form 4
Dec 15, 2025 Mark Samuel HoplamazianSee Remarks, Director Sold 82,000 $166.14 $13.6M Form 4
Dec 1, 2025 Susan D KronickDirector Sold plan 1,600 $163.36 $0.3M Form 4
Nov 26, 2025 David UdellSee Remarks Sold 4,300 $166.00 $0.7M Form 4
Nov 12, 2025 Mark Samuel HoplamazianSee Remarks, Director Sold 2,500 $155.01 $0.4M Form 4
Nov 11, 2025 Mark R VondrasekSee Remarks Sold 4,930 $155.91 $0.8M Form 4
Nov 11, 2025 Mark Samuel HoplamazianSee Remarks, Director Sold 64,000 $156.57 $10.0M Form 4
Nov 10, 2025 Peter SearsSee Remarks Sold 12,394 $155.51 $1.9M Form 4
Nov 10, 2025 Mark Samuel HoplamazianSee Remarks, Director Sold 63,500 $157.18 $10.0M Form 4
Nov 10, 2025 Margaret C. EganSee Remarks Sold 1,300 $157.40 $0.2M Form 4
Nov 10, 2025 David UdellSee Remarks Sold 3,010 $157.00 $0.5M Form 4
Nov 7, 2025 David UdellSee Remarks Sold 4,131 $151.10 $0.6M Form 4

Financial health

Can it carry its debts, and how well does it use its money?

Balance sheet

KIRA Β· Hyatt owes $3.5B more than it holds in cash, about 4.8 years of operating profit.

Cash, debt and the ratios that show how comfortably Hyatt can carry it.

In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.

Cash vs debt (incl. leases)

Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $1.2B$1.1B$896M$1.4B$813M
Debt incl. finance leases $4.0B$3.1B$3.1B$3.8B$4.3B
Net debt / EBITDA 5.5x2.1x2.6x1.2x4.8x
Debt / equity 1.1x0.9x0.9x1.1x1.3x
Interest coverage 1.3x3.4x3.1x9.7x1.3x
Current ratio 0.9x0.7x0.6x0.8x0.8x
Quick ratio 0.9x0.7x0.6x0.8x0.8x
Total assets $12.6B$12.3B$12.8B$13.3B$14.0B
Total liabilities $9.0B$8.6B$9.3B$9.5B$10.4B
Shareholders' equity $3.6B$3.7B$3.6B$3.5B$3.3B
Net debt (βˆ’ = net cash) $2.8B$2.0B$2.2B$2.4B$3.5B

Returns on capital

KIRA Β· Its return on capital was 3.0%: every 100 invested in the business earned about 3 in a year.

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

In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.

Return on capital, equity and assets (annual)

Return on capital Return on equity Return on assets

Piotroski F-score

KIRA Β· Hyatt passes 4 of 8 financial health tests (Piotroski F-score).

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

In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.

TestFY23FY24FY25
Net income is positive βœ“ βœ“ βœ•
Cash from operations is positive βœ“ βœ“ βœ“
Return on assets rose βœ• βœ“ βœ•
Cash from operations exceeds net income βœ“ βœ• βœ“
Debt fell relative to assets βœ“ βœ• βœ•
Current ratio rose βœ• βœ“ βœ•
Share count didn't rise βœ“ βœ“ βœ“
Gross margin rose β€” β€” β€”
Revenue rose relative to assets βœ“ βœ• βœ“
F-score 6 / 85 / 84 / 8
Accruals ratio βˆ’4.6%5.1%βˆ’3.2%
Altman Z'' 0.851.971.03

Price and value

What does the share cost, and how does it compare?

Value Hyatt yourself

KIRA Β· At $171.96 a share, the company is worth $16.6B.

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

In plain words: Move the sliders to try your own guesses about growth. The result is what one share would be worth if those guesses came true. Different guesses give very different answers.

Discounted cash flow

Value per share

β€”

Adds net cash of βˆ’$3.5B and divides by 95.5M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

β€”

Reference multiples: today β€” Β· peers 14.9x Β· sector 17.8x.

Similar companies

KIRA Β· Hyatt grew sales faster than 4 of its 4 similar companies.

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

In plain words: The same numbers for similar companies, so you can tell whether a figure is high or low for this kind of business.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Hyatt H $16.6B 6.8% β€” 2.2% 3.0% β€” 4
IHG Hotels & Resorts IHG $26.1B 5.4% 23.1% 16.8% β€” β€” 8 Compare β†’
Norwegian Cruise Line NCLH $7.1B 3.7% 15.9% βˆ’11.9% 9.8% 9.4x 7 Compare β†’
Hilton Grand Vacations HGV $2.9B 1.3% β€” 4.6% 4.6% 20.4x β€” Compare β†’
Marriott Vacations Worldwide VAC $4.2B 1.3% β€” βˆ’0.6% β€” β€” β€” Compare β†’

All figures

Every number, year by year.

10 years of figures

Amounts in USD. Hover a ratio’s name for its definition.

In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $4.4B $4.7B $4.5B $5.0B $2.1B $3.0B $5.9B $6.7B $6.6B $7.1B
Interest expense $76.0M $80.0M $76.0M $75.0M $128M $163M $150M $145M $180M $317M
Pretax income $282M $722M $951M $1.0B βˆ’$960M $44.0M $363M $310M $1.6B $81.0M
Income tax $76.0M $332M $182M $240M βˆ’$257M $266M βˆ’$92.0M $90.0M $267M $130M
Net income $206M $389M $769M $766M βˆ’$703M βˆ’$222M $455M $220M $1.3B βˆ’$52.0M
Diluted EPS $1.53 $3.08 $6.68 $7.21 βˆ’$6.93 βˆ’$2.13 $4.09 $2.05 $12.65 βˆ’$0.55
Diluted shares 0.13B 0.13B 0.12B 0.11B 0.10B 0.10B 0.11B 0.11B 0.10B 0.10B
Cash flow
Cash from operations $462M $587M $341M $396M βˆ’$611M $315M $674M $800M $633M $379M
Capital expenditure $211M $298M $297M $369M $122M $111M $201M $198M $170M $220M
Free cash flow $251M $289M $44.0M $27.0M βˆ’$733M $204M $473M $602M $463M $159M
Depreciation and amortization $326M $348M $327M $329M $310M $310M $426M $397M $333M $325M
Stock-based compensation $26.0M $32.0M $28.0M $35.0M $28.0M $59.0M $61.0M $75.0M $64.0M $74.0M
Acquisitions $492M $259M $678M $18.0M $0.0M $2.9B $174M $175M $609M $1.3B
Share buybacks $272M $743M $946M $421M $69.0M $0.0M $369M $453M $1.2B $293M
Dividends paid $0.0M $0.0M $68.0M $80.0M $20.0M $0.0M $0.0M $47.0M $60.0M $57.0M
Dividends and buybacks $272M $743M $1.0B $501M $89.0M $0.0M $369M $500M $1.3B $350M
Balance sheet
Cash and short-term investments $538M $552M $686M $961M $1.9B $1.2B $1.1B $896M $1.4B $813M
Total debt $1.5B $1.5B $1.7B $1.6B $3.3B $4.0B $3.1B $3.1B $3.8B $4.3B
Finance lease liabilities $0.0M $0.0M $0.0M $11.0M $9.0M $7.0M $7.0M $6.0M $4.0M $3.0M
Current assets $1.1B $1.3B $1.3B $1.7B $2.6B $2.1B $2.3B $2.1B $2.7B $2.2B
Current liabilities $924M $992M $1.1B $1.1B $984M $2.2B $3.3B $3.6B $3.3B $2.9B
Inventory $28.0M $14.0M $14.0M $12.0M $9.0M $10.0M $9.0M $9.0M $8.0M $8.0M
Property and equipment, net $4.3B $4.0B $3.6B $3.5B $3.1B $2.8B $2.4B $2.3B $1.7B $1.6B
Total assets $7.7B $7.6B $7.6B $8.4B $9.1B $12.6B $12.3B $12.8B $13.3B $14.0B
Total liabilities $3.8B $3.7B $4.0B $4.5B $5.9B $9.0B $8.6B $9.3B $9.5B $10.4B
Shareholders' equity $3.9B $3.8B $3.7B $4.0B $3.2B $3.6B $3.7B $3.6B $3.5B $3.3B
Margins
EBITDA margin 15.4% 24.6% 30.4% 28.1% βˆ’25.3% 17.1% 15.9% 12.8% 31.2% 10.2%
Net margin 4.7% 8.3% 17.3% 15.3% βˆ’34.0% βˆ’7.3% 7.7% 3.3% 19.5% βˆ’0.7%
FCF margin 5.7% 6.2% 1.0% 0.5% βˆ’35.5% 6.7% 8.0% 9.0% 7.0% 2.2%
Returns
Return on capital 5.2% 8.8% 17.7% 17.7% βˆ’14.2% 1.9% 8.5% 5.7% 24.2% 3.0%
Return on capital employed 5.4% 12.0% 15.6% 15.5% βˆ’10.8% 2.2% 5.3% 5.0% 18.1% 3.8%
Return on equity 5.2% 10.1% 20.5% 20.1% βˆ’19.6% βˆ’6.6% 12.5% 6.1% 36.5% βˆ’1.5%
Return on assets 2.7% 5.1% 10.1% 9.5% βˆ’8.0% βˆ’2.0% 3.7% 1.8% 9.9% βˆ’0.4%
Growth
Revenue growth 2.3% 5.8% βˆ’4.9% 12.7% βˆ’58.8% 46.6% 94.6% 13.2% βˆ’0.3% 6.8%
Net income growth 66.1% 88.8% 97.7% βˆ’0.4% βˆ’191.8% β€” β€” βˆ’51.7% 489.1% βˆ’104.0%
EPS growth 77.9% 101.3% 116.9% 7.9% βˆ’196.1% β€” β€” βˆ’49.9% 517.1% βˆ’104.4%
FCF growth βˆ’6.7% 15.1% βˆ’84.8% βˆ’38.6% βˆ’2,814.8% β€” 131.9% 27.3% βˆ’23.1% βˆ’65.7%
Share count change βˆ’7.0% βˆ’5.7% βˆ’8.9% βˆ’7.7% βˆ’4.7% 2.6% 7.0% βˆ’3.2% βˆ’4.9% βˆ’6.8%
Financial health
Net debt / EBITDA 1.5x 0.8x 0.7x 0.5x β€” 5.5x 2.1x 2.6x 1.2x 4.8x
Debt / equity 0.4x 0.4x 0.5x 0.4x 1.0x 1.1x 0.9x 0.9x 1.1x 1.3x
Interest coverage 4.7x 10.0x 13.5x 14.4x βˆ’6.5x 1.3x 3.4x 3.1x 9.7x 1.3x
Current ratio 1.2x 1.3x 1.3x 1.6x 2.6x 0.9x 0.7x 0.6x 0.8x 0.8x
Quick ratio 1.2x 1.3x 1.3x 1.6x 2.6x 0.9x 0.7x 0.6x 0.8x 0.8x
Capital allocation
Capex / revenue 4.8% 6.4% 6.7% 7.4% 5.9% 3.7% 3.4% 3.0% 2.6% 3.1%
Stock comp / revenue 0.6% 0.7% 0.6% 0.7% 1.4% 2.0% 1.0% 1.1% 1.0% 1.0%
Payouts / FCF 108.4% 257.1% 2,304.6% 1,855.6% β€” 0.0% 78.0% 83.1% 270.0% 220.1%
Quality scores
Piotroski F-score 7.0 8.0 4.0 6.0 3.0 5.0 6.0 6.0 5.0 4.0
Altman Z'' 2.7 3.4 3.8 3.9 2.3 1.3 1.1 0.9 2.0 1.0
Accruals ratio βˆ’3.3% βˆ’2.6% 5.6% 4.6% βˆ’1.1% βˆ’4.9% βˆ’1.8% βˆ’4.6% 5.1% βˆ’3.2%

Source: SEC EDGAR XBRL filings (CIK 0001468174). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β€” not investment advice. Check the original filings before relying on any figure.

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