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Hilton Worldwide (HLT) stock

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NYSE: HLT NYSE Hotels, Resorts & Cruise Lines Next results ~February 10, 2027

C+ Fundamentals grade

Hilton Worldwide is a US-listed company in the hotels, resorts & cruise lines industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$210

Cash-flow model

Base case. Range ~$140–$300 across our lower- and higher-growth cases (3.1%–13.1% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 42% below it.

Price used: $364.71, November 2, 2026

Hilton Worldwide valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Hilton Worldwide files

10-Q filed October 27: Hilton Worldwide

Revenue for the twelve months to September 2026 was $12.7bn, up 8.1% on a year earlier, slower than the 8.7% growth a quarter earlier. Free-cash-flow margin fell to 15.2% from 20.4% a year earlier. Operating margin widened to 24.0% from 22.0%. The diluted share count is down 4.5% on a year earlier, which lifts each remaining share. Our model value is little changed at $208 a share, against a share price of $359. The rating stays Sell. At that price, our model says the market is pricing in about 16.2% a year of cash-flow growth for five years, close to the 17.0% a year revenue growth it has delivered.

Source: 10-Q filed October 27, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed July 28: Hilton Worldwide

Revenue for the twelve months to June 2026 was $12.7bn, up 8.1% on a year earlier, slower than the 8.7% growth a quarter earlier. Free-cash-flow margin fell to 15.2% from 20.4% a year earlier. Operating margin widened to 24.0% from 22.0%. The diluted share count is down 4.5% on a year earlier, which lifts each remaining share. Our model value is little changed at $210 a share, against a share price of $338. The rating stays Sell. At that price, our model says the market is pricing in about 16.4% a year of cash-flow growth for five years, close to the 17.0% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Where Hilton Worldwide stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $12.5bn, up 8.7% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin fell to 16.3% from 19.6% a year earlier. Operating margin widened to 23.3% from 21.1%. The diluted share count is down 4.5% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 0 of our 3 financial-health checks. Our cash-flow model value is $215 a share, against a share price of $360. At that price, our model says the market is pricing in about 18.0% a year of cash-flow growth for five years, close to the 16.6% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 10, 2027 (estimated)

Hilton Worldwide's trailing-twelve-month revenue grew 8.1% year on year, with a free-cash-flow margin of 15.2%. Where it lags: long-term debt as % of assets of 75.8% ranks 22 of 24 hotels, resorts & cruise lines companies we cover.

Our discounted-cash-flow model values the business at ~$210 per share in the base case (~$140–$300 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 19.2% while net income grew 2.1%: a 21pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 4.5% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $364.71 is 42% above our value per share of $210.
  • High earnings multiple. The shares trade at 49 times the last 12 months' earnings, so expectations are demanding.
  • Insiders selling. 4 insiders sold $92M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 75.8% ranks 22 of 24 hotels, resorts & cruise lines companies we cover (median 41.9%).

Latest results: FY2026 Q3

Filed October 27, 2026
Earnings per share
$2.45 against an average estimate of $2.37: beat by 3.6%
Revenue
$3.33bn, up 6.6% on a year earlier
Share reaction
-0.6% in the first session after the results on October 27, 2026, against +0.9% for the S&P 500
Guidance given
system-wide comparable RevPAR growth growth 4% to 4.5% (Full Year 2026); diluted EPS $8.38 to $8.44 (Full Year 2026)
Next report
October 27, 2026; average EPS estimate $2.38

Hilton Worldwide's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.2%
  • 1 week+3.6%
  • 1 month+14.2%
  • This year+27.1%
  • 1 year+42.2%
  • 5 years+154.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$12.7B
Operating margin
24.0%
Net margin
13.4%
EPS (TTM, diluted)
$7.39

Growth

Revenue growth
+8.1%
Change in growth rate
−0.6 pts
Share count change
−4.5%

Cash

Free cash flow (TTM)
$1.9B
FCF margin
15.2%
Stock pay % of revenue
1.6%

Earnings

Last results
October 27, 2026
Next results (est.)
February 10, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Results
  3. Guidance
  4. Our research
  5. Our research
  6. Announcement
  7. Leadership
  8. Insider trade
  9. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Hilton Worldwide valuation models and calculator

What the price is pricing in

The share price implies about 16.4% a year of cash-flow growth for five years.That is close to the 17.0% a year revenue growth Hilton Worldwide has delivered.

  • Priced in16.4%
  • Last 12 months8.1%
  • 3 years a year8.0%
  • 5 years a year17.0%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($363.48, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$210
Price used
$363.48close November 3, 2026
Implied change
▼ 42%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Hilton Worldwide's free cash flow after stock-based pay with after-tax interest added back ($2.5B, FY2026 Q3 TTM), growing 8.8% and 8.2% in the next two years (forecasts, guidance and its record), then back to 8.1% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$140–~$300 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Hilton Worldwide's free cash flow after stock-based pay ( $2.5B, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Hilton Worldwide as an operating company, with every model that fits that kind of business. Cost of equity 9.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.98 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$210 ~$140–$300 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$150 ~$130–$200 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$190 ~$150–$210 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Hilton Worldwide with Hotels, Resorts & Cruise Lines in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −32%
  • Revenue growth 5 points higher ▲ +41%
  • Free-cash-flow margin 1 point lower ▼ −7%
  • Last year's free-cash-flow margin change, if it persists ▼ −25%
  • Discount rate 1 point higher ▼ −19%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $106$164$242$343$476$648
8.5% $68$110$166$239$333$455
10% $45$77$120$176$248$340

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$41.70$53.67$77.53$70.24$109.22$109.73$153.84$125.05$180.92$246.25$286.85$364.71
Market value$13.8bn$17.7bn$25.4bn$21.4bn$31.7bn$30.4bn$43.2bn$34.6bn$47.8bn$61.6bn$68.3bn$83.9bn
+ Net debt (− = net cash)$9.4bn$5.6bn$6.1bn$7.0bn$7.5bn$7.4bn$7.4bn$7.6bn$8.5bn$9.9bn$11.5bn$12.7bn
Enterprise value$23.2bn$23.3bn$31.5bn$28.4bn$39.2bn$37.8bn$50.7bn$42.2bn$56.2bn$71.5bn$79.8bn$96.6bn
Multiples
Price / sales 1.9x2.7x3.1x2.4x3.4x7.1x7.5x3.9x4.7x5.5x5.7x6.6x
Price / earnings 9.8x52.2x23.4x28.0x36.0x—105.4x27.6x41.9x40.1x46.9x49.3x
Price / free cash flow 12.1x17.8x32.1x18.1x24.3x45.9xn/m21.1x26.6x32.1x33.7x43.4x
EV / EBITDA 18.1x19.1x21.4x16.2x19.6x—42.3x18.7x23.7x28.4x27.8x29.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

67 /100

Moderate moat

How hard Hilton Worldwide's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 9 / 20

    Net income has been a median 6.7% of total assets over 10 years.

  • Durability 7 / 20

    Operating margin has been a median 19.3%; its worst year was 2.2%.

  • Cash conversion 17 / 20

    Free cash flow was positive in 9 of 10 years, at a median 15.6% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 17.4% over five years; stock-based pay has been a median 1.6% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $9.10 +12% $13.0bn +8%
Next $10.42 +14% $14.1bn +9%

Next year's EPS estimate has moved −0.2% in 90 days, across 29 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.8% on 90 days ago. In the last 30 days, 3 analysts raised Hilton Worldwide's forecast and 2 cut it.

Consensus EPS forecast Hilton Worldwide, last 90 days
$9.00 $9.50 $10.00 $10.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $9.03 Current fiscal year, 60 days ago: $9.04 Current fiscal year, 30 days ago: $9.04 Current fiscal year, 7 days ago: $9.05 Current fiscal year, Now: $9.10 $9.10 Next fiscal year, 90 days ago: $10.44 Next fiscal year, 60 days ago: $10.46 Next fiscal year, 30 days ago: $10.46 Next fiscal year, 7 days ago: $10.42 Next fiscal year, Now: $10.42 $10.42

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $9.03$10.44
60 days ago $9.04$10.46
30 days ago $9.04$10.46
7 days ago $9.05$10.42
Now $9.10$10.42

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $2.37 $2.45 +3.6%
Jun 2026 $2.27 $2.29 +0.8%
Mar 2026 $1.97 $2.01 +1.8%
Dec 2025 $2.02 $2.08 +3.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 27, 2026
  • Diluted EPS Full Year 2026 $8.38 to $8.44 GAAP
    “Diluted EPS is projected to be between $8.38 and $8.44.” source
  • Diluted EPS, adjusted for special items Full Year 2026 $9.07 to $9.13 Non-GAAP Raised vs 8.89 to 9.01
    “Diluted EPS, adjusted for special items, is projected to be between $9.07 and $9.13.” source
  • Diluted EPS Fourth Quarter 2026 $2.25 to $2.31 GAAP
    “Diluted EPS is projected to be between $2.25 and $2.31.” source
  • Diluted EPS, adjusted for special items Fourth Quarter 2026 $2.32 to $2.38 Non-GAAP
    “Diluted EPS, adjusted for special items, is projected to be between $2.32 and $2.38.” source
  • System-wide comparable RevPAR growth Full Year 2026 4% growth to 4.5% growth Lowered vs 6 to 7
    “System-wide comparable RevPAR, on a currency neutral basis, is projected to increase between 4.0 percent and 4.5 percent compared to 2025.” source
  • Net income Full Year 2026 $1,909m to $1,923m GAAP
    “Net income is projected to be between $1,909 million and $1,923 million.” source
Show 8 more items
  • Adjusted EBITDA Full Year 2026 $4,060m to $4,080m Non-GAAP Lowered
    “Adjusted EBITDA is projected to be between $4,060 million and $4,080 million, which incorporates lower expectations for performance in the Middle East and timeshare license fees compared to our prior guidance.” source
  • Contract acquisition costs and capital expenditures, excluding amounts reimbursed by third parties Full Year 2026 $350m to $375m Raised vs about 300m
    “Contract acquisition costs and capital expenditures, excluding amounts reimbursed by third parties, are projected to be between $350 million and $375 million.” source
  • Capital return Full Year 2026 about $3.5bn Maintained vs about 3.5bn
    “Capital return is projected to be approximately $3.5 billion.” source
  • General and administrative expenses Full Year 2026 about $400m Maintained vs about 400m
    “General and administrative expenses are projected to be approximately $400 million.” source
  • Net unit growth Full Year 2026 6% growth to 7% growth Maintained vs 6 to 7
    “Net unit growth is projected to be between 6.0 percent and 7.0 percent, with expectations around the midpoint of the range, reflecting expected sequential growth in net additional rooms in the fourth quarter.” source
  • System-wide comparable RevPAR growth Fourth Quarter 2026 3% growth to 3.5% growth
    “System-wide comparable RevPAR, on a currency neutral basis, is projected to increase between 3.0 percent and 3.5 percent compared to the fourth quarter of 2025.” source
  • Net income Fourth Quarter 2026 $508m to $522m GAAP
    “Net income is projected to be between $508 million and $522 million.” source
  • Adjusted EBITDA Fourth Quarter 2026 $1,047m to $1,067m Non-GAAP
    “Adjusted EBITDA is projected to be between $1,047 million and $1,067 million.” source

How earlier guidance turned out

  • Net income, Third Quarter 2026 guided $502m to $516m Above range: $536m
  • Diluted EPS, Third Quarter 2026 guided $2.20 to $2.26 Above range: $2.37

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Hilton Worldwide's revenue by +8.8% next year and +8.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+9.1%, weight 70%) and the company's own record (+8.1%, weight 30%) . How the weights are set.

Analyst recommendations

29 analysts, Oct 2026
Buy1862%
Hold1034%
Sell13%

Monthly trend

  1. Oct 20264141029
  2. Sep 20264131028
  3. Aug 2026413927
  4. Jul 20264101025

Counts of recommendations published by analysts covering Hilton Worldwide, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.6%
of tradable shares
Days to cover
3.23
at average volume
Short interest, 1 month
−4%
to October 15, 2026
Held by institutions
97%
of shares
Held by insiders
2.2%
of shares
Employees
182,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +42.2%

$256.46 on October 31, 2025 to $364.71

ThenNowEffect
Revenue (last 12 months) $11.5bn $12.5bn +8.7%
Net margin 13.8% 12.7% −8.3%
P/E multiple 39.3x 53.6x +36.2%
Share count 244m 233m +4.7%

Biggest factor: p/e multiple.

Last 3 years +134.3%

$155.66 on November 3, 2023 to $364.71

ThenNowEffect
Revenue (last 12 months) $9.8bn $12.5bn +27.9%
Net margin 13.2% 12.7% −4.1%
P/E multiple 32.6x 53.6x +64.6%
Share count 270m 233m +16.1%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
HLT+40%−19%+45%+36%+17%+27%
Industry peers (median)+26%−27%+46%+24%+6%+17%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
HLT50%50%67%75%67%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
HLT−14%−33%−14%−12%−26%−14%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 51% from January 17, 2020 to April 3, 2020. Getting back needed a 103% gain, reached on January 8, 2021, 280 days after the low.

Price behaviour

52-week range
$258.13 – $364.71
From 52-week high
0.0%
vs 50-day average
+12.0%
vs 200-day average
+13.6%
Volatility (1 year)
24%
Beta vs S&P 500
0.63

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±2.0%
After a week
5 up, 6 down
typical move ±2.8%
After a month
7 up, 4 down
typical move ±4.5%
Results releasedNext dayS&P 500 next day5 days21 days
October 27, 2026 −0.6% +0.9% — —
July 28, 2026 −2.8% −1.3% −5.7% +0.6%
April 28, 2026 −5.4% −0.5% −5.9% +1.6%
February 11, 2026 −0.5% −1.6% −3.4% −9.9%
October 22, 2025 +0.6% +0.1% −2.1% −0.6%
July 23, 2025 −2.3% +0.9% −0.2% −1.7%
April 29, 2025 +1.8% +0.7% +6.8% +12.1%
February 6, 2025 +4.6% −0.6% +4.5% −7.3%
October 23, 2024 −1.2% −0.7% +0.1% +5.8%
August 7, 2024 −1.0% +1.6% +0.3% +3.0%
April 24, 2024 +3.5% −0.4% +0.4% +1.6%
February 7, 2024 0.0% +0.9% −1.0% +5.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Hilton Worldwide’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look fairly priced

Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.

  • Implied is 1.29× the last 60 days’ realised volatility , richer than 71% of the 229 stocks we screen today.
  • Puts and calls are priced at about the same implied volatility.
  • Why: implied is not far enough above realised, or not unusual against our coverage.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

HLT Hilton Worldwide Grade C+ $363.1

Own 100 shares, sell the $380 call expiring December 18, 2026 (46 days) for $6.80 a share — $680 per contract.

Previous session · Bid $6.80, ask $8.40, quoted Mon 2 Nov, 17:25 New York time with HLT at $363.1. Option prices move with the shares: check the live chain at your broker before trading.

  • If HLT ends below $380: you keep your shares and the $680 — 1.9% extra on the position, 14.9% a year at that pace.
  • If it ends above $380: your shares are sold at $380, a total return of 6.5% including the premium — at or above our value of ~$210.
$2.4k $0 −$7.1k Break-even $356.3 Price $363.1 ← Our value ~$210
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$680
Annualised
14.9%
Break-even
$356.3
Max gain
$2,370.5
Chance of selling
~36%

Collar

Own the shares, buy the $340 put and sell the $380 call, both expiring December 18, 2026 (46 days).

  • Net credit of $1.90 a share ($190 per contract of 100 shares).
  • Worst case at expiry: -5.8%, if the shares fall below $340 (-6.4% from today).
  • Best case at expiry: +5.2%, if the shares rise above $380 (+4.7%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $210: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Hilton Worldwide in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Hilton Worldwide
$10B $11B $12B $13B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $10.2B Revenue (TTM), FY24 Q1: $10.5B Revenue (TTM), FY24 Q2: $10.8B Revenue (TTM), FY24 Q3: $11B Revenue (TTM), FY24 Q4: $11.2B Revenue (TTM), FY25 Q1: $11.3B Revenue (TTM), FY25 Q2: $11.5B Revenue (TTM), FY25 Q3: $11.7B Revenue (TTM), FY25 Q4: $12B Revenue (TTM), FY26 Q1: $12.3B Revenue (TTM), FY26 Q2: $12.5B Revenue (TTM), FY26 Q3: $12.7B $12.7B

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $10.2B
FY24 Q1 $10.5B
FY24 Q2 $10.8B
FY24 Q3 $11B
FY24 Q4 $11.2B
FY25 Q1 $11.3B
FY25 Q2 $11.5B
FY25 Q3 $11.7B
FY25 Q4 $12B
FY26 Q1 $12.3B
FY26 Q2 $12.5B
FY26 Q3 $12.7B
Revenue growth, TTM YoY Hilton Worldwide
5% 10% 15% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 16.7% Revenue growth, TTM YoY, FY24 Q1: 12.5% Revenue growth, TTM YoY, FY24 Q2: 10.7% Revenue growth, TTM YoY, FY24 Q3: 9.2% Revenue growth, TTM YoY, FY24 Q4: 9.2% Revenue growth, TTM YoY, FY25 Q1: 7.4% Revenue growth, TTM YoY, FY25 Q2: 6.3% Revenue growth, TTM YoY, FY25 Q3: 6.7% Revenue growth, TTM YoY, FY25 Q4: 7.7% Revenue growth, TTM YoY, FY26 Q1: 8.7% Revenue growth, TTM YoY, FY26 Q2: 8.7% Revenue growth, TTM YoY, FY26 Q3: 8.1% 8.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 16.7%
FY24 Q1 12.5%
FY24 Q2 10.7%
FY24 Q3 9.2%
FY24 Q4 9.2%
FY25 Q1 7.4%
FY25 Q2 6.3%
FY25 Q3 6.7%
FY25 Q4 7.7%
FY26 Q1 8.7%
FY26 Q2 8.7%
FY26 Q3 8.1%
Operating margin (TTM) Hilton Worldwide
20% 21% 22% 23% 24% 25% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 21.7% Operating margin (TTM), FY24 Q1: 21.5% Operating margin (TTM), FY24 Q2: 21.4% Operating margin (TTM), FY24 Q3: 20.7% Operating margin (TTM), FY24 Q4: 21.2% Operating margin (TTM), FY25 Q1: 21.0% Operating margin (TTM), FY25 Q2: 21.1% Operating margin (TTM), FY25 Q3: 22.0% Operating margin (TTM), FY25 Q4: 22.4% Operating margin (TTM), FY26 Q1: 23.1% Operating margin (TTM), FY26 Q2: 23.3% Operating margin (TTM), FY26 Q3: 24.0% 24.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 21.7%
FY24 Q1 21.5%
FY24 Q2 21.4%
FY24 Q3 20.7%
FY24 Q4 21.2%
FY25 Q1 21.0%
FY25 Q2 21.1%
FY25 Q3 22.0%
FY25 Q4 22.4%
FY26 Q1 23.1%
FY26 Q2 23.3%
FY26 Q3 24.0%
FCF margin (TTM) Hilton Worldwide
14% 16% 18% 20% 22% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 17.5% FCF margin (TTM), FY24 Q1: 17.5% FCF margin (TTM), FY24 Q2: 16.8% FCF margin (TTM), FY24 Q3: 16.4% FCF margin (TTM), FY24 Q4: 17.2% FCF margin (TTM), FY25 Q1: 17.9% FCF margin (TTM), FY25 Q2: 19.6% FCF margin (TTM), FY25 Q3: 20.4% FCF margin (TTM), FY25 Q4: 16.8% FCF margin (TTM), FY26 Q1: 17.9% FCF margin (TTM), FY26 Q2: 16.3% FCF margin (TTM), FY26 Q3: 15.2% 15.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 17.5%
FY24 Q1 17.5%
FY24 Q2 16.8%
FY24 Q3 16.4%
FY24 Q4 17.2%
FY25 Q1 17.9%
FY25 Q2 19.6%
FY25 Q3 20.4%
FY25 Q4 16.8%
FY26 Q1 17.9%
FY26 Q2 16.3%
FY26 Q3 15.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Hilton Worldwide took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $12B
  2. Selling, general and admin $393M · 3.3%
  3. Other operating costs $9B · 74.4%
  4. Operating income $2.7B · 22.4%
  5. Income tax $611M · 5.1%
  6. Interest and other $625M · 5.2%
  7. Net income $1.5B · 12.1%

Shares of revenue. Source: Hilton Worldwide's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 9.3 9.7 10.5 7.1 6.6 8.1 8.9 9.5 4.3 5.8 8.8 10.2 11.2 12.0 12.7
EBITDA 1.7 1.7 2.3 1.3 1.2 1.5 1.8 2.0 −0.1 1.2 2.3 2.4 2.5 2.9 3.2
Operating income 1.1 1.1 1.7 0.9 0.9 1.1 1.4 1.7 −0.4 1.0 2.1 2.2 2.4 2.7 3.0
Net income 0.4 0.4 0.7 1.4 0.3 1.1 0.8 0.9 −0.7 0.4 1.3 1.1 1.5 1.5 1.7
Diluted EPS $0.78 $0.45 $2.05 $4.26 $1.03 $3.32 $2.50 $3.04 −$2.58 $1.46 $4.53 $4.33 $6.14 $6.12 $7.39
Growth (year on year)
Revenue — +4.9% +7.9% −32.1% −7.8% +23.6% +9.5% +6.1% −54.4% +34.4% +51.6% +16.7% +9.2% +7.7% +8.1%
EBITDA — +3.3% +35.0% −44.2% −5.0% +20.2% +19.7% +14.0% −104.3% — +88.3% +5.1% +6.1% +14.1% +18.0%
Operating income — +0.2% +51.8% −46.2% −3.6% +30.4% +26.5% +15.7% −125.2% — +107.3% +6.3% +6.5% +13.6% +18.1%
Net income — +17.9% +62.2% +108.6% −75.9% +220.7% −29.5% +15.3% −181.2% — +206.1% −9.1% +34.5% −5.1% +2.1%
Diluted EPS — −42.3% +355.6% +107.8% −75.8% +222.3% −24.7% +21.6% −184.9% — +210.3% −4.4% +41.8% −0.3% +6.9%
Margins
EBITDA margin 17.8% 17.5% 21.9% 18.0% 18.6% 18.1% 19.7% 21.2% −2.0% 20.7% 25.7% 23.2% 22.5% 23.8% 25.6%
Operating margin 11.9% 11.3% 15.9% 12.6% 13.2% 13.9% 16.1% 17.5% −9.7% 17.4% 23.9% 21.7% 21.2% 22.4% 24.0%
Net margin 3.8% 4.3% 6.4% 19.7% 5.1% 13.3% 8.6% 9.3% −16.6% 7.1% 14.3% 11.1% 13.7% 12.1% 13.4%
Free-cash-flow margin 7.3% 19.0% 9.9% 15.9% 15.1% 9.7% 13.3% 13.8% 15.4% 1.3% 18.7% 17.5% 17.2% 16.8% 15.2%
Cash flow
Cash from operations 1.1 2.1 1.3 1.4 1.3 0.8 1.3 1.4 0.7 0.1 1.7 1.9 2.0 2.1 2.0
Capital spending 0.4 0.3 0.3 0.3 0.3 0.1 0.1 0.1 0.0 0.0 0.0 0.2 0.1 0.1 0.1
Free cash flow 0.7 1.8 1.0 1.1 1.0 0.8 1.2 1.3 0.7 0.1 1.6 1.8 1.9 2.0 1.9
Stock-based pay 0.1 0.3 0.1 0.1 0.1 0.1 0.1 0.2 0.1 0.2 0.2 0.2 0.2 0.2 0.2
Free cash flow after stock pay 0.6 1.6 1.0 1.0 0.9 0.7 1.1 1.1 0.6 −0.1 1.5 1.6 1.7 1.9 1.7
Balance sheet
Cash 0.8 0.6 0.6 0.6 1.1 0.6 0.4 0.5 3.2 1.4 1.2 0.8 1.3 0.9 0.8
Total debt 0.0 11.8 10.8 10.1 6.7 6.7 7.4 8.1 10.6 8.9 8.8 9.3 11.2 12.5 13.5
Net debt (negative = net cash) −0.8 11.2 10.2 9.4 5.6 6.1 7.0 7.5 7.4 7.4 7.6 8.5 9.9 11.5 12.7
Diluted shares 449m 450m 329m 330m 329m 327m 305m 290m 277m 281m 277m 264m 250m 238m 230m
Returned to shareholders
Dividends — 0.0 0.0 0.1 0.3 0.2 0.2 0.2 0.0 0.0 0.1 0.2 0.2 0.1 0.1
Buybacks — — — 0.0 0.0 0.9 1.7 1.5 0.3 0.0 1.6 2.3 2.9 3.2 3.4
Total returned — 0.0 0.0 0.1 0.3 1.1 1.9 1.7 0.3 0.0 1.7 2.5 3.0 3.3 3.6

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 5 checks passed · September 30, 2026
What it owns · $16.8bn
Short-term assets $3.1bnLonger-term assets $13.7bn
What it owes, and who funded it · $23.4bn
Short-term liabilities $5.3bnLonger-term liabilities $18.1bnShareholders' equity $-6.6bn
  • Short-term assets cover short-term liabilities $3.1bn of assets due within a year against $5.3bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.1bn short-term assets against $18.1bn of longer-dated liabilities.
  • More cash than debt $774m of cash against $12.7bn of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $2.0bn of operating cash flow against $12.7bn of debt.
  • Operating profit covers interest at least five times over Operating income of $3.0bn against $694m of interest.

From Hilton Worldwide's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$3.4B
Dividends (TTM)
$138M
Returned to shareholders
184%
of free cash flow
Buybacks, last 3 fiscal years
$8.4B
Diluted share count
−4.5%
year over year
Total shareholder yield
4.4%
dividends 0.2% + buybacks 4.2% of market value
Dividend payout ratio
8%
of net income paid out
Days sales outstanding
52 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in hotels, resorts & cruise lines
Last 12 months unless stated HLT ABNB EXPE NCLH TCOM RCL Median
Revenue, last 12 months $12.7bn $13.2bn $15.7bn $10.2bn $8.7bn $19.1bn $5.2bn
Revenue growth, last 12 months 8.1% 13.6% 12.0% 4.9% 17.2% 9.7% 9.7%
Revenue growth, 3-year average 8.0% 13.1% 8.6% 7.9% 110.6% 13.3% 8.0%
Revenue growth, latest quarter 6.6% 16.5% 14.0% 0.3% — 8.8% 8.1%
Gross margin — 82.9% 82.1% 41.4% 80.6% 49.1% 47.7%
Operating margin 24.0% 20.8% 16.0% 13.8% 25.3% 27.6% 16.0%
Operating margin, 3-year average 22.2% 19.5% 11.3% 15.0% 9.7% 26.4% 15.3%
Net margin 13.4% 20.4% 13.0% 8.2% 53.3% 23.8% 11.4%
Cash from operations / revenue 15.9% 36.9% 33.2% 21.3% 23.0% 36.0% 20.4%
Free-cash-flow margin 15.2% 36.9% 28.4% −5.6% 21.8% 7.9% 12.1%
Free-cash-flow margin, 3-year average 17.3% 38.6% 19.3% −4.4% 18.6% 5.8% 10.3%
Stock pay / revenue 1.6% 13.0% 2.6% 0.9% 3.6% 0.7% 1.3%
Change in share count −4.5% −3.8% −5.4% −3.5% 1.4% −3.3% −3.4%

Median of all 25 companies we cover in hotels, resorts & cruise lines. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

25 hotels, resorts & cruise lines companies
Measure Company Peer median Rank
Revenue growth Growth 8.1% 9.7% 14 of 25
Change in growth rate Growth -0.6pp -0.5pp 15 of 25
Operating margin Profitability 24.0% 16.0% 6 of 22
Net margin Profitability 13.4% 11.4% 10 of 25
Free-cash-flow margin Cash generation 15.2% 12.7% 10 of 24
Stock pay as % of revenue Cash generation 1.6% 1.4% 15 of 24
Long-term debt as % of assets Balance sheet 75.8% 41.9% 22 of 24
Change in share count Balance sheet -4.5% -3.5% 8 of 23
Days sales outstanding Balance sheet 52 days 52 days 9 of 17

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Reimbursement Revenue $7.1B 58.9% ▲ 10.2%
Totalrevenuesexcludingreimbursablerevenues $5B 41.1% ▲ 4.4%
Franchiseandlicensingfees $2.8B 56.1% ▲ 6.9%
Ownership $1.2B 24.9% ▼ 1.8%
Management Service Base $376M 7.6% ▲ 1.9%
Management Service Incentive $313M 6.3% ▲ 7.9%
Hotel Other $252M 5.1% ▲ 8.6%
Geography
Region Revenue Share YoY
United States $9.5B 79.1% ▲ 8.5%
Outside the US $2.5B 20.9% ▲ 5.1%

From Hilton Worldwide's 10-K filed February 11, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$70.6B
Institutions reporting
1,282
Shares held vs prior quarter
▼ 1.3%
Positions opened / closed
179 / 85

Top buyers and sellers, Q2 2026: 676 institutions bought and 499 sold ; the biggest buyer was Jane Street Group, LLC (+1.7M shares) and the biggest seller T. Rowe Price Investment Management, Inc (−3.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $6.3B 19.0M 8.9% ▼ 10.4%
Vanguard Capital Management LLC $4.9B 14.9M 7.0% ▼ 0.2%
FMR LLC $3.7B 11.2M 5.3% ▼ 3.7%
State Street Corp $3.2B 9.7M 4.5% ▲ 3.4%
Jpmorgan Chase & Co $2.6B 7.9M 3.7% ▼ 24.7%
Vanguard Portfolio Management LLC $2.5B 7.6M 3.6% ▼ 1.2%
Principal Financial Group Inc $1.9B 5.8M 2.7% ▼ 11.6%
Franklin Resources Inc $1.9B 5.7M 2.7% ▼ 10.4%
Geode Capital Management, LLC $1.8B 5.5M 2.6% ▼ 16.4%
Bank Of America Corp $1.7B 5.2M 2.5% ▼ 11.8%
Price T Rowe Associates Inc $1.5B 4.4M 2.1% ▼ 9.7%
Morgan Stanley $1.4B 4.2M 2.0% ▲ 2.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Hilton Worldwide's complete shareholder register. Values are as reported by the filers ; 6 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $92.5M 14 trades by 4 insiders · 0% under pre-set plans
Net ▼ $92.5M net selling
Insider Date Trade Shares Price Value
Jacobs Kevin J See Remarks October 29, 2026 Sell 1,191 $358.79 $427,318
Jacobs Kevin J See Remarks October 29, 2026 Sell 42,794 $358.05 $15.3M
Jacobs Kevin J See Remarks October 29, 2026 Sell 28,531 $357.24 $10.2M
Jacobs Kevin J See Remarks October 29, 2026 Sell 10,667 $355.99 $3.8M
Jacobs Kevin J See Remarks October 29, 2026 Sell 38,108 $355.06 $13.5M
Jacobs Kevin J See Remarks October 29, 2026 Sell 21,895 $354.19 $7.8M
Jacobs Kevin J See Remarks October 29, 2026 Sell 7,864 $353.18 $2.8M
Carr Chris Director September 14, 2026 Sell 439 $310.34 $136,239
Fuentes Laura See Remarks September 14, 2026 Sell 2,893 $309.82 $896,324
Fuentes Laura See Remarks September 14, 2026 Sell 4,396 $309.80 $1.4M
Nassetta Christopher J See Remarks February 17, 2026 Sell 9,375 $319.30 $3M
Nassetta Christopher J See Remarks February 17, 2026 Sell 27,376 $318.37 $8.7M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 18 trades and filings

In the last 12 months, 1 member of Congress disclosed 1 purchase and 0 sales of Hilton Worldwide shares.

  • Jonathan L. Jackson(D-IL 1):Purchase, $1,001 - $15,000, traded June 15, 2026, filed July 15, 2026
  • Val T. Hoyle(D-OR 4):Sale (full), $1,001 - $15,000, traded September 23, 2025, filed October 10, 2025
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (full), $1,001 - $15,000, traded May 7, 2025, filed June 6, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 10, 2027 estimated from the company's past filing pattern, not announced

  • October 27, 2026
  • July 28, 2026
  • April 28, 2026
  • February 11, 2026
  • October 22, 2025
  • July 23, 2025

Recent SEC filings

Data status

When each part of this page on Hilton Worldwide was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Hilton Worldwide in brief

What does Hilton Worldwide do?
Hilton Worldwide is a US-listed company in the hotels, resorts & cruise lines industry. Its financial year ends in December.
What is Hilton Worldwide's stock ticker?
Hilton Worldwide trades under the ticker HLT on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Hilton Worldwide's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Hilton Worldwide reported revenue of $12.7B, 8.1% higher than a year earlier, according to its SEC filings.
What is Hilton Worldwide's free cash flow?
Hilton Worldwide's free-cash-flow margin is 15.2% of revenue over the trailing twelve months, ranking 10 of the 24 hotels, resorts & cruise lines companies we cover.
What is Hilton Worldwide's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Hilton Worldwide's free cash flow after stock-based pay gives ~$210 per share in the base case, and ~$140–$300 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Hilton Worldwide's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and FMR LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Hilton Worldwide buying back stock, and does it pay a dividend?
Hilton Worldwide spent $3.4B on share repurchases over the trailing twelve months, and its diluted share count fell 4.5% over the year.
What is Hilton Worldwide's market cap?
On November 2, 2026, Hilton Worldwide's market capitalisation was about $83.9B, with a price-to-earnings ratio of 49.3 and net debt of $12.7B. Market figures come from third-party market data and may be delayed.
Does Hilton Worldwide pay a dividend?
Yes: Hilton Worldwide paid $138M in dividends over the trailing twelve months, a dividend yield of 0.17% and a payout ratio of 8.1%.
Who are Hilton Worldwide's competitors?
In our Hotels, Resorts & Cruise Lines peer group, the companies closest to Hilton Worldwide are Airbnb, Expedia Group, Norwegian Cruise Line Holdings, Trip.com Group Ltd and Royal Caribbean Group. The side-by-side comparison below sets their revenue, margins and growth against Hilton Worldwide's.
Are insiders buying or selling Hilton Worldwide stock?
Over the last 12 months, Hilton Worldwide's directors and officers reported 0 open-market purchases and 14 sales on Form 4. The insider trading page charts every trade.
When is Hilton Worldwide's next earnings date?
Around February 10, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Hilton Worldwide announces its own schedule.