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Hilton Worldwide key statistics and ratios

In fiscal 2025, Hilton Worldwide had an operating margin of 22.4% and a current ratio of 0.66. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Operating margin11.9%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 margin3.8%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 margin7.3%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%
Return on equity16.3%12.7%14.8%26.2%5.7%28.6%68.2%————————
Return on assets—1.6%2.6%5.4%1.3%5.4%5.4%6.1%−4.5%2.5%8.1%7.4%9.6%8.8%10.1%
Asset turnover—0.370.400.280.250.400.630.650.270.360.570.660.700.720.76
Current ratio—1.111.111.061.330.820.760.731.730.950.850.700.700.660.59
Debt to equity0.0%269.4%227.5%168.1%113.7%395.9%>999%————————
Interest cover (operating income ÷ interest)1.9x1.8x2.7x2.4x2.6x3.2x3.9x4.0xn/m2.5x5.0x4.8x4.2x4.3x4.4x
Effective tax rate37.3%34.1%40.5%——44.6%−28.7%28.8%—27.3%27.5%32.0%13.7%29.5%27.7%
Capital spending as % of revenue4.7%2.6%2.6%4.3%4.8%0.7%0.8%0.9%1.1%0.6%0.4%1.5%0.9%0.8%0.7%
Free cash flow ÷ net income192.3%445.1%154.4%80.9%293.8%73.0%154.8%147.9%—18.0%130.8%157.3%124.9%139.2%113.6%
Dividends ÷ net income—0.0%0.0%9.8%82.0%18.0%23.7%19.5%—0.0%9.8%13.8%9.8%9.8%8.1%
Dividends and buybacks ÷ free cash flow—0.0%0.0%12.1%27.9%137.3%160.8%131.2%51.1%0.0%104.3%139.1%158.7%164.0%183.8%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

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Figures from Hilton Worldwide's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Hilton Worldwide.