Explain this page
Arphra AIPlain-English read on Hilton Worldwide Holdings Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +28.59% | +30.75% | +28.63% | +27.41% | +41.15% | +31.59% | +33.03% | +32.77% | +32.20% |
| Operating margin | +17.45% | +23.87% | +21.74% | +21.21% | +22.37% | +22.38% | +21.47% | +21.69% | +22.43% |
| EBITDA margin | +19.78% | +26.34% | +22.50% | +22.36% | +23.84% | +22.54% | +22.88% | +23.47% | +23.26% |
| EBIT margin | +16.53% | +24.50% | +21.06% | +21.05% | +22.37% | +21.72% | +21.50% | +21.64% | +21.06% |
| Pre-tax margin | +9.68% | +19.77% | +16.53% | +15.96% | +17.21% | +16.10% | +16.88% | +16.15% | +16.41% |
| Net margin | +7.08% | +14.31% | +11.15% | +13.74% | +12.10% | +12.37% | +12.55% | +12.49% | +12.65% |
| Cost structure | |||||||||
| Cost of revenue / sales | +71.41% | +69.25% | +71.37% | +72.59% | +58.85% | +68.24% | +67.38% | +66.51% | +65.72% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +7.00% | +4.35% | +3.99% | +3.71% | +3.26% | +3.72% | +3.60% | +3.55% | +3.72% |
| Effective tax rate | +27.32% | +27.51% | +31.97% | +13.68% | +29.68% | +26.49% | +24.63% | +25.93% | +24.89% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | -50.06% | -114.30% | -48.62% | -41.61% | -27.25% | -36.33% | -37.10% | -36.77% | -37.01% |
| Return on assets (ROA) | +2.66% | +8.09% | +7.41% | +9.29% | +8.69% | +8.39% | +8.68% | +8.70% | +8.54% |
| Return on capital (ROC) | +11.28% | +24.37% | +28.62% | +28.51% | +26.09% | +28.72% | +26.73% | +28.66% | +29.95% |
| Return on invested capital (ROIC) | +4.58% | +14.60% | +14.68% | +18.46% | +14.11% | +15.87% | +15.64% | +16.50% | +16.90% |
| Asset turnover | +37.48% | +56.56% | +66.46% | +67.63% | +71.77% | +67.89% | +69.10% | +69.63% | +67.55% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +7.08% | +14.31% | +11.15% | +13.74% | +12.10% | +12.37% | +12.55% | +12.49% | +12.65% |
| Asset turnover (× revenue / assets) | +37.48% | +56.56% | +66.46% | +67.63% | +71.77% | +67.89% | +69.10% | +69.63% | +67.55% |
| Equity multiplier (× assets / equity) | -1885.35% | -1412.75% | -656.20% | -447.87% | -313.77% | -432.74% | -427.62% | -422.79% | -433.15% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.37 | 0.57 | 0.66 | 0.68 | 0.72 | 0.68 | 0.69 | 0.70 | 0.68 |
| Fixed-asset turnover | 5.79 | 9.31 | 10.23 | 11.43 | 9.55 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 5.42 | 6.61 | 6.88 | 7.06 | 7.12 | — | — | — | — |
| Payables turnover | 15.08 | 16.51 | 15.98 | 19.83 | — | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 67.35 | 55.21 | 53.03 | 51.71 | 51.24 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 24.20 | 22.11 | 22.83 | 18.41 | — | — | — | — | — |
| Cash conversion cycle | 43.15 | 33.10 | 30.19 | 33.30 | 51.24 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 0.27 | 1.34 | 1.71 | 1.31 | 1.46 | 1.46 | 1.48 | 1.44 | 1.44 |
| FCF / Net income | 0.07 | 1.26 | 1.49 | 1.18 | 1.39 | 1.31 | 1.35 | 1.36 | 1.28 |
| FCF margin | +0.52% | +18.00% | +16.60% | +16.24% | +16.85% | +16.19% | +16.89% | +16.97% | +16.15% |
| OCF margin | +1.88% | +19.16% | +19.01% | +18.02% | +17.68% | +18.10% | +18.55% | +17.97% | +18.25% |
| CapEx / Revenue | +1.36% | +1.16% | +2.41% | +1.77% | +0.84% | +1.69% | +1.63% | +1.69% | +1.64% |
| CapEx / D&A | 0.42 | 0.63 | 1.68 | 1.36 | 1.77 | — | — | — | — |
| Stock-based comp / Revenue | +3.33% | +1.85% | +1.65% | +1.58% | +1.41% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 1.46 | 4.53 | 4.32 | 6.14 | 6.12 | 9.03 | 10.38 | 11.90 | 14.05 |
| EPS · basic | 1.47 | 4.56 | 4.35 | 6.20 | 6.18 | 9.12 | 10.37 | 11.94 | 14.13 |
| Book value / share | -2.91 | -3.96 | -8.89 | -14.91 | -22.46 | -18.63 | -20.27 | -21.84 | -23.43 |
| Tangible BV / share | -41.73 | -43.39 | -51.07 | -61.18 | -72.83 | -18.63 | -20.27 | -21.84 | -23.43 |
| Sales / share | 20.60 | 31.67 | 38.77 | 45.15 | 50.58 | 54.72 | 59.90 | 64.29 | 68.56 |
| Operating CF / share | 0.39 | 6.07 | 7.37 | 8.13 | 8.95 | 9.91 | 11.11 | 11.55 | 12.51 |
| Free cash flow / share | 0.11 | 5.70 | 6.44 | 7.33 | 8.52 | 8.86 | 10.12 | 10.91 | 11.07 |
| Dividends / share | 0.00 | 0.44 | 0.60 | 0.61 | 0.60 | 0.73 | 0.79 | 0.87 | 0.92 |
| Payout ratio | 0.00% | +9.80% | +13.85% | +9.77% | +9.81% | +10.77% | +10.51% | +10.89% | +10.62% |
| Retention ratio | +100.00% | +90.20% | +86.15% | +90.23% | +90.19% | +89.23% | +89.49% | +89.11% | +89.38% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +51.57% | +16.66% | +9.17% | +7.74% | +8.38% | +8.22% | +7.74% | +8.28% | +13.97% |
| Gross profit · YoY | — | +63.02% | +8.60% | +4.54% | +61.74% | -16.80% | +13.15% | +6.88% | +6.40% | +15.67% |
| Profit | ||||||||||
| Operating income · YoY | — | +107.33% | +6.26% | +6.52% | +13.63% | +8.41% | +3.81% | +8.89% | +11.93% | +17.60% |
| EBITDA · YoY | — | +101.83% | -0.35% | +8.47% | +14.89% | +2.47% | +9.86% | +10.50% | +7.31% | +16.30% |
| Net income · YoY | — | +206.10% | -9.08% | +34.53% | -5.08% | +10.74% | +9.87% | +7.17% | +9.68% | +22.53% |
| Operating | ||||||||||
| EBIT · YoY | — | +124.56% | +0.33% | +9.09% | +14.50% | +5.25% | +7.08% | +8.48% | +5.38% | +17.47% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +210.27% | -4.64% | +42.13% | -0.33% | +47.56% | +14.92% | +14.64% | +18.11% | +32.72% |
| EPS · basic · YoY | — | +210.20% | -4.61% | +42.53% | -0.32% | +47.61% | +13.72% | +15.15% | +18.27% | +32.69% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $9.78B | $9.69B | $10.12B | $12B | $15.67B | $14.61B | $16.12B | $16.68B | $17.96B |
| Net debt | $8.35B | $8.48B | $9.32B | $10.7B | $14.7B | $13.44B | $14.83B | $15.25B | $16.45B |
| Net debt / EBITDA | 7.29 | 3.67 | 4.05 | 4.28 | 5.12 | 4.57 | 4.59 | 4.27 | 4.29 |
| Debt / equity | -11.94 | -8.83 | -4.31 | -3.25 | -2.93 | -3.29 | -3.37 | -3.23 | -3.19 |
| Debt / assets | +63.31% | +62.47% | +65.71% | +72.65% | +93.41% | +76.00% | +78.87% | +76.36% | +73.65% |
| Equity / assets | -5.30% | -7.08% | -15.24% | -22.33% | -31.87% | -23.11% | -23.39% | -23.65% | -23.09% |
| Coverage | |||||||||
| EBITDA / interest expense | 2.88 | 5.57 | 4.96 | 4.39 | 4.63 | 4.50 | 4.78 | 4.78 | 4.80 |
| Operating income / interest | 2.54 | 5.05 | 4.80 | 4.17 | 4.34 | 4.47 | 4.49 | 4.42 | 4.63 |
| Interest expense | $397M | $415M | $464M | $569M | $620M | $653.48M | $675.71M | $747.09M | $798.26M |
| Liquidity | |||||||||
| Current ratio | 0.95 | 0.85 | 0.70 | 0.70 | 10.81 | — | — | — | — |
| Quick ratio | 0.83 | 0.75 | 0.61 | 0.61 | 10.81 | — | — | — | — |
| Cash ratio | 0.47 | 0.36 | 0.21 | 0.28 | 3.94 | — | — | — | — |
| Working capital | -$148M | -$502M | -$1.11B | -$1.43B | $2.41B | — | — | — | — |
| Working capital / revenue | -2.56% | -5.72% | -10.83% | -12.78% | +20.05% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).