Hilton Grand Vacations Inc. (HGV) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.01	$0.89	-11.9%	—	$1.4B	—
Q1 26	$0.59	$0.99	+67.8%	—	$1.3B	—
Q4 25	$1.16	$0.88	-24.1%	—	$1.3B	—
Q3 25	$0.97	$0.6	-38.1%	—	$1.3B	—
Q2 25	$0.81	$0.54	-33.3%	—	$1.3B	—
Q1 25	$0.53	$0.09	-83.0%	—	$1.1B	—
Q4 24	$0.73	$0.49	-32.9%	—	$1.3B	—
Q3 24	$0.66	$0.67	+1.5%	—	$1.3B	—
Q2 24	$1.05	$0.62	-41.0%	—	$1.2B	—
Q1 24	$0.74	$0.95	+28.4%	—	$1.2B	—
Q4 23	$0.93	$1.01	+8.6%	—	$1B	—
Q3 23	$0.93	$0.98	+5.4%	—	$1B	—
Q2 23	$0.84	$0.85	+1.2%	—	$1B	—
Q1 23	$0.56	$0.79	+41.1%	—	$934M	—
Q4 22	$0.77	$1.01	+31.2%	—	$992M	—
Q3 22	$0.77	$1.4	+81.8%	—	$1.1B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.9	—	—	$5B	—
FY24	—	$0.46	—	—	$5B	—
FY23	—	$2.84	—	—	$4B	—
FY22	—	$2.98	—	—	$3.8B	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.6B	$1.7B	$2B	$1.8B	$894M	$2.3B	$3.8B	$4B	$5B	$5B
YoY change	+7.32%	+8.09%	+16.8%	-8.05%	-51.4%	+161.2%	+64.2%	+3.73%	+25.2%	+1.33%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.6B	1.7B	2B	1.8B	894M	2.3B	3.8B	4B	5B	5B
Cost of revenue	1.1B	1.2B	1.3B	1.3B	742M	1.5B	2.6B	2.7B	3.6B	1.8B
Gross profit	519M	557M	685M	578M	152M	855M	1.3B	1.2B	1.3B	3.2B
Gross margin	32.8%	32.6%	34.3%	31.4%	17%	36.6%	33.2%	30.9%	26.8%	63.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	92M	104M	120M	118M	92M	151M	212M	194M	199M	2.1B
Operating expenses	172M	191M	218M	219M	143M	231M	336M	332M	370M	2.3B
Operating income	323M	337M	434M	315M	-36M	498M	695M	684M	697M	653M
Operating margin	20.4%	19.7%	21.7%	17.1%	-4.03%	21.3%	18.1%	17.2%	14%	12.9%
Non-operating income, net	-1M	1M	-1M	1M	-201M	-124M	-72M	-57M	-232M	-75M
Pretax income	293M	311M	403M	273M	-280M	269M	481M	449M	136M	175M
Income tax	125M	-16M	105M	57M	-79M	93M	129M	136M	76M	76M
Net income	168M	327M	298M	216M	-201M	176M	352M	313M	60M	99M
Net margin	10.6%	19.1%	14.9%	11.8%	-22.5%	7.54%	9.18%	7.87%	1.2%	1.96%
EBITDA	346M	367M	466M	360M	17M	608M	951M	911M	972M	860M
EPS	1.7	3.3	3.07	2.43	-2.36	1.77	2.98	2.84	0.46	0.9
Diluted EPS	1.7	3.28	3.05	2.42	-2.36	1.75	2.93	2.8	0.45	0.89

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	1B	1B	1.2B	1.2B	1.3B	1.3B	1.1B	1.3B	1.3B	1.3B	1.3B	1.4B
Cost of revenue	696M	686M	837M	907M	945M	937M	898M	958M	973M	-1B	957M	1B
Gross profit	322M	333M	319M	328M	361M	347M	250M	308M	327M	2.3B	328M	349M
Gross margin	31.6%	32.7%	27.6%	26.6%	27.6%	27%	21.8%	24.3%	25.2%	175.6%	25.5%	25.7%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	40M	64M	45M	58M	44M	52M	46M	58M	58M	1.9B	49M	67M
Operating expenses	77M	101M	80M	98M	93M	99M	95M	110M	114M	2B	102M	125M
Operating income	192M	175M	177M	162M	200M	178M	88M	139M	146M	280M	155M	153M
Operating margin	18.9%	17.2%	15.3%	13.1%	15.3%	13.9%	7.67%	11%	11.2%	21%	12.1%	11.3%
Non-operating income, net	-11M	-22M	-111M	-48M	-23M	-50M	-17M	-17M	-22M	-19M	-8M	-60M
Pretax income	136M	108M	-13M	7M	93M	49M	-6M	43M	45M	93M	74M	23M
Income tax	44M	40M	-11M	3M	61M	23M	6M	15M	15M	40M	6M	8M
Net income	92M	68M	-2M	4M	32M	26M	-12M	28M	30M	53M	68M	15M
Net margin	9.04%	6.67%	-0.17%	0.32%	2.45%	2.02%	-1.05%	2.21%	2.31%	3.98%	5.29%	1.1%
EBITDA	246M	236M	239M	210M	281M	242M	166M	208M	216M	270M	230M	226M
EPS	0.84	0.63	-0.04	0.02	0.28	0.2	-0.17	0.26	0.28	0.56	0.81	0.15
Diluted EPS	0.83	0.62	-0.04	0.02	0.28	0.19	-0.17	0.25	0.28	0.55	0.79	0.15

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	4.2B	2.6B	3.1B	2.7B	—	—	4.4B	4B	—	2.8B
Enterprise value	—	5B	3.8B	4.6B	4.2B	—	—	8.4B	10.7B	—	10.5B
Shares outstanding	99M	99.1M	97.1M	88.9M	85.2M	99.4M	118.1M	110.2M	102.2M	90M	90M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	12.7	8.6	14.2	—	—	—	14.1	66.3	—	20.1
P/S	—	2.43	1.28	1.66	2.99	—	—	1.11	0.8	—	0.58
P/B	—	8.02	4.16	5.36	7.14	—	—	2.09	2.1	—	2.5
EV/EBITDA	—	13.6	8.19	12.9	249.1	—	—	9.26	11	—	11.3
EV/Sales	—	2.91	1.91	2.52	4.74	—	—	2.12	2.14	—	2.23
Earnings yield	—	7.87%	11.6%	7.07%	—	—	—	7.07%	1.51%	—	4.98%
FCF yield	—	7.43%	-8.67%	2.68%	1.8%	—	—	5.35%	4.6%	—	-4.55%
PEG	—	—	—	—	—	—	—	—	—	—	-0.47

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	32.8%	32.6%	34.3%	31.4%	17%	36.6%	33.2%	30.9%	26.8%	63.9%	25.7%
Operating margin	20.4%	19.7%	21.7%	17.1%	-4.03%	21.3%	18.1%	17.2%	14%	12.9%	12.7%
Net margin	10.6%	19.1%	14.9%	11.8%	-22.5%	7.54%	9.18%	7.87%	1.2%	1.96%	3.21%
ROE	100.6%	63.1%	48.4%	37.9%	-53.7%	8.85%	16.4%	14.8%	3.17%	6.88%	11.5%
ROA	7.71%	13.7%	10.8%	7.02%	-6.41%	2.2%	4.4%	3.6%	0.52%	0.86%	3.35%
ROIC	14.2%	25.2%	17.2%	11.6%	-1.86%	5.54%	8.81%	7.79%	3.58%	4.32%	5.87%
Return on tangible assets	8.24%	14.6%	11.5%	7.38%	-6.76%	7.42%	13.4%	8.86%	1.54%	2.34%	3.27%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	6.23	5.07	5.5	4.83	5.11	4.81	3.6	4.51	4.87	4.1	4.81
Quick ratio	4.46	3.78	4.05	3.52	3.6	3.38	2.59	3.25	3.18	2.53	2.2
Debt / equity	7.09	2.06	2.21	2.9	5.33	2.18	1.79	2.17	3.7	5.1	6.24
Debt / assets	0.54	0.45	0.5	0.54	0.64	0.54	0.48	0.53	0.61	0.64	0.64
Net debt / EBITDA	3.28	2.23	2.69	4.4	92	6.41	3.81	4.4	6.88	8.27	8.05
Interest coverage	11.1	12.5	14.4	7.35	-5.51	3.56	4.39	3.52	1.41	1.56	1.79
Effective tax rate	42.7%	0%	26.1%	20.9%	0%	34.6%	26.8%	30.3%	55.9%	43.4%	29.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	16	17.3	20.6	20.7	10.5	23.5	32.5	36.1	48.8	56.1	56.3
EPS (basic)	1.7	3.3	3.07	2.43	-2.36	1.77	2.98	2.84	0.46	0.9	0.9
EPS (diluted)	1.7	3.28	3.05	2.42	-2.36	1.75	2.93	2.8	0.45	0.89	1.76
Book value per share	1.69	5.23	6.35	6.41	4.39	20	18.2	19.2	18.5	16	14.1
FCF per share	1.49	3.12	-2.29	0.92	0.56	1.3	5.5	2.15	1.79	1.71	4.23
Cash per share	0.48	2.48	1.11	0.75	5.03	4.34	1.89	5.34	3.21	2.66	3.73
Capex per share	—	—	—	—	—	—	—	—	—	1.62	1.5

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	2.89%	2.29%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	48.7%	26.1%
Payout ratio	0%	0%	—	—	—	—	—	—	—	—	0%
Dividend yield	—	0%	—	—	—	—	—	—	—	—	—

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$1B	$1B	$1.2B	$1.2B	$1.3B	$1.3B	$1.1B	$1.3B	$1.3B	$1.3B	$1.3B	$1.4B
YoY change	-8.78%	+2.72%	+23.8%	+22.6%	+28.3%	+26%	-0.69%	+2.51%	-0.46%	+3.82%	+11.9%	+7.27%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	48M	246M	108M	67M	428M	432M	223M	589M	328M	239M
Receivables	1.1B	1.2B	1.3B	1.3B	1.1B	1.9B	2.1B	2.5B	3.2B	200M
Inventory	513M	509M	527M	558M	702M	1.2B	1.2B	1.4B	2.2B	2.5B
Total current assets	1.8B	2B	2B	2.1B	2.4B	4.2B	4.1B	5B	6.5B	6.6B
Property, plant & equipment	71M	56M	264M	552M	303M	421M	471M	404M	385M	362M
Goodwill & intangibles	140M	144M	162M	154M	162M	5.6B	5.4B	5.2B	7.5B	7.3B
Total assets	2.2B	2.4B	2.8B	3.1B	3.1B	8B	8B	8.7B	11.4B	11.5B
Accounts payable	31M	45M	51M	24M	20M	63M	83M	144M	180M	58M
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	291M	396M	363M	425M	466M	866M	1.1B	1.1B	1.3B	1.6B
Long-term debt	1.2B	1.1B	1.4B	1.7B	2B	4.3B	3.8B	4.6B	7B	7.3B
Total liabilities	2B	1.9B	2.1B	2.5B	2.8B	6B	5.9B	6.6B	9.5B	10.1B
Shareholders' equity	167M	518M	616M	570M	374M	2B	2.2B	2.1B	1.9B	1.4B
Total debt	1.2B	1.1B	1.4B	1.7B	2B	4.3B	3.8B	4.6B	7B	7.3B
Net debt	1.1B	819M	1.3B	1.6B	1.6B	3.9B	3.6B	4B	6.7B	7.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	227M	589M	355M	328M	297M	328M	259M	269M	215M	239M	261M	272M
Receivables	308M	2.5B	360M	346M	249M	3.2B	251M	265M	279M	200M	205M	224M
Inventory	1.3B	1.4B	1.8B	1.9B	2.2B	2.2B	2.3B	2.4B	2.5B	2.5B	2.5B	2.5B
Total current assets	4.1B	5B	6B	6B	6.2B	6.5B	6.2B	6.4B	6.5B	6.6B	6.5B	7B
Property, plant & equipment	851M	404M	1B	986M	738M	385M	946M	905M	928M	362M	940M	962M
Goodwill & intangibles	5.2B	5.2B	7.7B	7.6B	7.5B	7.5B	7.6B	7.5B	7.4B	7.3B	7.2B	7.2B
Total assets	8B	8.7B	11.7B	11.5B	11.2B	11.4B	11.8B	11.7B	11.7B	11.5B	11.9B	12.2B
Accounts payable	942M	144M	1.2B	1.2B	1.1B	180M	1.3B	1.2B	1.1B	58M	1.3B	1.2B
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	1.2B	1.1B	1.6B	1.5B	1.3B	1.3B	1.9B	1.8B	1.7B	1.6B	2.1B	2B
Long-term debt	3.8B	4.6B	6.8B	6.7B	6.7B	7B	7B	7.2B	7.3B	7.3B	7.4B	7.9B
Total liabilities	5.9B	6.6B	9.5B	9.4B	9.2B	9.5B	10.1B	10.1B	10.1B	10.1B	10.6B	11B
Shareholders' equity	2.1B	2.1B	2.2B	2.1B	2B	1.9B	1.7B	1.6B	1.5B	1.4B	1.4B	1.3B
Total debt	3.8B	4.6B	6.8B	6.7B	6.7B	7B	7B	7.2B	7.3B	7.3B	7.4B	7.9B
Net debt	3.6B	4B	6.4B	6.4B	6.4B	6.7B	6.8B	6.9B	7.1B	7.1B	7.1B	7.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	168M	327M	298M	216M	-201M	176M	352M	313M	60M	99M
Depreciation & amortization	24M	29M	33M	44M	45M	126M	244M	213M	268M	273M
Stock-based compensation	0	15M	16M	22M	15M	48M	46M	40M	47M	64M
Change in working capital	-87M	51M	-315M	-65M	83M	-375M	-50M	-401M	-381M	-504M
Operating cash flow	133M	299M	-235M	73M	-200M	53M	601M	134M	-68M	300M
Capital expenditure	—	—	—	—	—	—	—	—	—	-146M
Investing cash flow	0	-80M	1M	-2M	-2M	-1.6B	0	-83M	-1.4B	-146M
Dividends paid	0	0	—	—	—	—	—	—	—	—
Share repurchases	0	0	-183M	-283M	-10M	0	-272M	-368M	-432M	-600M
Financing cash flow	-76M	-124M	107M	-111M	325M	1.6B	-789M	166M	1.1B	-366M
Net change in cash	57M	95M	-127M	-40M	123M	83M	-188M	217M	-376M	-212M
Free cash flow	148M	309M	-222M	82M	48M	129M	650M	237M	183M	154M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	92M	68M	-2M	4M	32M	26M	-12M	28M	30M	53M	68M	15M
Depreciation & amortization	53M	57M	62M	68M	68M	70M	67M	59M	67M	80M	71M	71M
Stock-based compensation	12M	2M	9M	18M	11M	9M	12M	23M	19M	10M	11M	25M
Change in working capital	-96M	-164M	-127M	-93M	-154M	-7M	-75M	-150M	-224M	-55M	-108M	-153M
Operating cash flow	48M	-59M	-61M	21M	-30M	31M	-41M	61M	34M	167M	128M	134M
Capital expenditure	—	—	—	—	—	—	—	-34M	-38M	-42M	-20M	-21M
Investing cash flow	0	—	-1.5B	10M	0	0	0	-34M	-38M	-42M	-20M	-21M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-62M	-100M	-99M	-100M	-108M	-125M	-150M	-150M	-150M	-150M	-150M	-150M
Financing cash flow	-120M	449M	1.3B	-177M	-130M	178M	-201M	-22M	-48M	-95M	-123M	-19M
Net change in cash	-72M	390M	-249M	-146M	-160M	209M	-242M	5M	-52M	30M	-15M	94M
Free cash flow	70M	-28M	-19M	95M	59M	48M	6M	27M	-4M	125M	108M	113M

Hilton Grand Vacations Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement