Latest revenue
$2.94B
as of 2026-03-31
Latest net income
$385.0M
as of 2026-03-31
Net margin
13.1%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $73.09B
- Enterprise value
- $84.89B
- P/E (trailing)
- 50.2×
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 0.2%
- 52-wk high
- $344.75
- 52-wk low
- $241.45
- Beta
- —
- Shares out
- 227.6M
5-year trend
What this company does
Hilton operates one of the world's largest hotel networks, managing and franchising properties under brands like Hilton, Waldorf Astoria, and Hampton, while licensing its trademarks to third-party owners. The company earns most of its money from franchise and licensing fees paid by hotel owners, supplemented by management fees and its Hilton Honors loyalty program. Hilton runs an asset-light model with a $5.9 billion stockholders' deficit driven by aggressive buybacks, repurchasing $821 million of stock in the quarter while growing Q1 revenue 9% to $2.94 billion.
Generated from HLT's filing dated 2026-02-11
Key risks
- Stockholders' deficit widened to $5.9B as aggressive buybacks ($821M in Q1) outpace earnings, leaving negative book equity against $12.3B long-term debt.
- Refinancing wall: $600M 4.875% notes due 2027 and $1.35B due 2029 must be rolled at materially higher rates than current coupons.
- Loyalty/deferred revenue liabilities total ~$5.6B (Honors $1.55B unearned), creating margin risk if redemption costs rise above booked transaction prices.
Generated from HLT's filing dated 2026-02-11
Profitability
Operating margin
22.4%
5.5%Net margin
12.1%
11.9%Return on equity
-27.0%
34.3%Return on assets
8.7%
6.5%Leverage
Debt / equity
-4.11×
24.3%Long-term debt / equity
-2.29×
19.6%Debt / assets
132.1%
7.8%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $2.94B | +9.0% | $385.0M | +28.3% | 13.1% |
Q4 2025 2025-12-31 | $3.09B | +10.9% | $297.0M | -41.2% | 9.6% |
Q3 2025 2025-09-30 | $3.12B | +8.8% | $420.0M | +22.1% | 13.5% |
Q2 2025 2025-06-30 | $3.14B | +6.3% | $440.0M | +4.5% | 14.0% |
Q1 2025 2025-03-31 | $2.69B | +4.7% | $300.0M | +13.2% | 11.1% |
Q4 2024 2024-12-31 | $2.78B | — | $505.0M | — | 18.1% |
Q3 2024 2024-09-30 | $2.87B | +7.3% | $344.0M | -8.8% | 12.0% |
Q2 2024 2024-06-30 | $2.95B | +10.9% | $421.0M | +2.4% | 14.3% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Hotels & Motels · SIC 7011
Your notes
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Insider activity
Insider buying
$0
Insider selling
$39.5M
Net activity
−$39.5M
Distinct insiders
2
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns HLT
Institutional value
$20.88B
Total shares held
71.6M
Distinct holders
750
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 14.9M | $4.53B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 7.7M | $2.34B | — | New |
| 3 | PRINCIPAL FINANCIAL GROUP INC | 6.6M | $2.01B | — | New |
| 4 | JENNISON ASSOCIATES LLC | 3.2M | $986.9M | — | New |
| 5 | Nuveen, LLC | 2.7M | $822.6M | — | New |
| 6 | Invesco Ltd. | 2.5M | $754.1M | — | New |
| 7 | TD ASSET MANAGEMENT INC | 1.5M | $461.5M | — | New |
| 8 | Bank of New York Mellon Corp | 1.3M | $408.8M | — | New |
| 9 | VANGUARD FIDUCIARY TRUST CO | 1.3M | $402.2M | — | New |
| 10 | Legal & General Group Plc | 1.3M | $388.0M | — | New |
| 11 | WELLS FARGO & COMPANY/MN | 1.0M | $314.1M | — | New |
| 12 | AGF MANAGEMENT LTD | 809.7K | $246.2M | — | New |
| 13 | DIMENSIONAL FUND ADVISORS LP | 774.9K | $235.6M | — | New |
| 14 | UBS Group AG | 761.1K | $231.4M | — | New |
| 15 | PineStone Asset Management Inc. | 736.7K | $224.0M | — | New |
| 16 | Gray Foundation | 731.7K | $222.5M | — | New |
| 17 | HSBC HOLDINGS PLC | 709.3K | $215.0M | — | New |
| 18 | Swiss National Bank | 682.1K | $207.4M | — | New |
| 19 | DEUTSCHE BANK AG\ | 637.6K | $193.9M | — | New |
| 20 | National Pension Service | 629.9K | $191.5M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
With $12.3B long-term debt and a $5.9B stockholders' deficit, why continue $821M quarterly buybacks rather than deleverage given rising interest expense?
- 2
Franchise fees grew 11% to $696M—how much was rate versus net unit growth, and what's RevPAR trending into Q2?
- 3
The $3.0B Hilton Honors liability grew again; what's the breakage assumption sensitivity, and are redemption costs outpacing co-brand fee inflows?
Refreshed when HLT files a new report · last from 2026-02-11