Expedia Group vs Hilton Worldwide
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KIRA’s take AI analyst
I put Expedia Group and Hilton Worldwide side by side, using each one’s latest annual report. Here is what stands out:
- Expedia Group is the larger business, with $14.7B of revenue in fiscal 2025 against $12.0B for Hilton Worldwide.
- Hilton Worldwide kept more of each dollar of sales as operating profit (22.4% operating margin, against 12.7%).
- Expedia Group turned more of its sales into free cash flow (21.1% FCF margin, against 16.9%).
- Expedia Group earned a higher return on the capital invested in it (40.5%, against 31.1%).
- Investors pay more for each dollar of Hilton Worldwide’s earnings: a P/E of 51.3x against 18.0x for Expedia Group.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Expedia Group
EXPE
5/9
5-year growthFCF marginReturn on capitalPiotroski F-scoreNet debt / EBITDA
Hilton Worldwide
HLT
4/9
Revenue growthOperating marginNet marginShare count change
Side by side
Best in the row
| Latest fiscal year | EXPE FY25 | HLT FY25 |
|---|---|---|
| Size | ||
| Market cap | $35.4B | $80.1B |
| Revenue | $14.7B | $12.0B |
| Free cash flow | $3.1B | $2.0B |
| Net income | $1.3B | $1.5B |
| Growth | ||
| Revenue growth | 7.6% | 7.7% |
| 5-year growth | 23.2% | 22.8% |
| Share count change | −4.3% | −4.8% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 12.7% | 22.4% |
| Net margin | 8.8% | 12.1% |
| FCF margin | 21.1% | 16.9% |
| Return on capital | 40.5% | 31.1% |
| Return on equity | 91.1% | — |
| Balance sheet | ||
| Net debt | $428M | $11.4B |
| Net debt / EBITDA | 0.2x | 4.0x |
| Dividends and buybacks | $2.1B | $3.3B |
| Valuation & quality | ||
| P/E | 18.0x | 51.3x |
| Piotroski F-score | 8 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.