Hilton Worldwide (HLT)财务
NYSE · Consumer Cyclical · Travel Lodging · 员工182,000人 · CEO Christopher J. Nassetta
- 股价
- $357.03 +0.03%
- 市值
- $794亿
- 企业价值
- $926亿
- 最近财报
- Q3 '26 2026-10-27提交
- 下次财报
- 2027-02-10 EPS预期 $2.43
营收(TTM)$127亿+8.1% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)24.0%+2.0 百分点 对比去年同期营业利润 $30.5亿
净利润(TTM)$17亿+2.1% 对比去年同期税后,含营业外收益
自由现金流(TTM)$19.3亿-17.8% 对比去年同期资本支出 $8400万
稀释EPS(TTM)$7.41+7.5% 对比去年同期最近4个季度之和
净现金-$132亿-16.9% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $794亿 EV $926亿
- 营收
- $127亿 过去12个月
- 营收增速
- +8% FY2026年一致预期
- 净利润率
- 13.4% 净利润 / 营收,TTM
- P/E
- 47.7× 预期 39.1×(FY2026)
- P/S
- 6.3× 股价 / 营收,TTM
- EV / EBITDA
- 29.0× TTM
- 自由现金流
- $19.3亿 过去12个月
- 净利润
- $17亿 过去12个月
- 营收预期
- $130亿 FY2026年一致预期
- 盈利
- 2027-02-10 营收预期 $33.5亿
- 股息
- $0.60 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-27):营收低于预期1.4%,EPS 超预期3.4%营收$33.3亿,预期$33.7亿(-1.4%);EPS $2.45,预期$2.37(+3.4%)。
- 营收增长放缓:同比6.6%Q3 '26营收$33.3亿,此前四个季度的平均值为8.8%。
- 营业利润率24.0%(TTM),较去年同期+2.0 百分点营收增长8.1%,营业利润增长18.1%。
- 税前利润的29.7%被营业外亏损吞噬税前利润$23.5亿,营业利润$30.5亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的0.7%(去年为1.4%)最近4个季度投入$8400万(同比-47.8%)。自由现金流$19.3亿,相当于净利润的113.5%。
- 股东回报$35.5亿 = 自由现金流的183.9%回购$34.1亿(去年为$31.7亿),股息$1.38亿,股权激励$2亿(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少5.8%Q3 '26稀释股数2.26亿,一年前为2.4亿。
- 净债务 $132亿现金 + 短期投资 $7.74亿,含租赁债务 $140亿;一年前净债务 $113亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $33.3亿 | $31.2亿 | +6.6% |
| 毛利率 | 33.2% | 30.2% | +3.0 百分点 |
| 营业利润 | $9.09亿 | $7.77亿 | +17.0% |
| 营业利润率 | 27.3% | 24.9% | +2.4 百分点 |
| 净利润 | $5.36亿 | $4.2亿 | +27.6% |
| 稀释EPS | $2.37 | $1.77 | +33.9% |
| 经营现金流 | $7.21亿 | $8.16亿 | -11.6% |
| 资本支出 | $3200万 | $5000万 | -36.0% |
| 自由现金流 | $6.89亿 | $7.66亿 | -10.1% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $5900万 | $4400万 | +34.1% |
实际 vs 一致预期
2026-10-27| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $33.3亿 | $33.7亿 | -1.4% |
| EPS(一致预期口径) | $2.45 | $2.37 | +3.4% |
来自2026-10-27发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Reimbursement Revenue | $19.7亿 | +7.1% | 65.1% | $75.1亿 | -12.2% | |
| Management and Franchise | $8.15亿 | +10.3% | 27.0% | $29.9亿 | -13.1% | |
| Management Service, Base | $9600万 | +3.2% | 3.2% | $3.88亿 | -14.3% | |
| Management Service, Incentive | $7100万 | +9.2% | 2.4% | $3.17亿 | -13.4% | |
| Hotel, Other | $7200万 | +12.5% | 2.4% | $2.75亿 | -11.6% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '24分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Management And Franchise | – | – | $8.73亿 | – | – | – | – |
| Ownership | – | – | $3300万 | – | – | – | – |
各分部营业利润
季度各分部营业利润率
季度利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $20.1亿
- 资本支出
- -$8400万
- 股票回购
- -$34.1亿
- 股息
- -$1.38亿
- 收购
- -$300万
- 债务净发行
- $14.7亿
- 股权激励费用
- $2亿
- 自由现金流
- $19.3亿
- 股东回报 / FCF
- 183.9%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 47.7× | 52.4× | 27.7× – 106.1× |
| EV / EBITDA | 29.0× | 29.1× | 18.7× – 45.3× |
| EV / 营收 | 7.3× | 6.5× | 4.9× – 9.0× |
| 股价 / FCF | 41.2× | 313.9× | 22.0× – 1,450.7× |
| 股价 / 净资产 | -12.1× | – | – |
| FCF收益率 | 2.4% | 2.8% | 0.1% – 4.5% |
| 投入资本回报率 | 18.1% | 12.6% | 5.8% – 16.4% |
| 净资产收益率 | -28.1% | -56.1% | -113.9% – -27.0% |
分析师
一致目标价 $371.40 (+4.0%)
区间 $316.00 – $421.00 · 评级 Buy
强烈买入0
买入29
持有20
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $130亿 | +7.8% | $9.12 | +49.0% | 39.1× | 14 |
| FY2027 | $141亿 | +8.8% | $10.39 | +13.9% | 34.4× | 18 |
| FY2028 | $153亿 | +8.4% | $11.99 | +15.4% | 29.8× | 10 |
| FY2029 | $164亿 | +7.2% | $14.05 | +17.2% | 25.4× | 4 |
| FY2030 | $173亿 | +5.6% | $16.23 | +15.4% | 22.0× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Hilton Worldwide Holdings Inc.在近期10-Q / 10-K文件中标记的全部251项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable and Accrued Liabilities, Current | $24.5亿 | $26亿 | -5.7% | $23.4亿 | $21.2亿 | +10.0% |
| Accounts Payable, Current | $3.76亿2025-12-31 | $4.09亿 | -8.1% | $3.76亿 | $4.09亿 | -8.1% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $18亿 | $16.5亿 | +9.0% | $16.9亿 | $15.8亿 | +6.8% |
| Accounts Receivable, Allowance for Credit Loss, Current | $1.75亿 | $1.6亿 | +9.4% | $1.63亿 | $1.45亿 | +12.4% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $4.86亿2025-12-31 | $4.99亿 | -2.6% | $4.86亿 | $4.99亿 | -2.6% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$7.39亿 | -$7.13亿 | -3.6% | -$7.29亿 | -$7.82亿 | +6.8% |
| Additional Paid in Capital | $114亿 | $112亿 | +1.6% | $113亿 | $111亿 | +1.3% |
| Amortization of Acquisition Costs | $1600万 | $1500万 | +6.7% | $5700万 | $5000万 | +14.0% |
| Amortization of Debt Issuance Costs and Discounts | – | – | – | $1900万 | $1700万 | +11.8% |
| Amortization of Intangible Assets | $1600万 | $1500万 | +6.7% | $2.88亿2017-12-31 | $3.12亿 | -7.7% |
| Asset Impairment Charges | – | – | – | $0 | $0 | – |
| Assets | $168亿 | $166亿 | +1.0% | $168亿 | $165亿 | +1.5% |
| Assets, Current | $31.1亿 | $31.2亿 | -0.2% | $30亿 | $32.7亿 | -8.4% |
| Assets, Noncurrent | $137亿 | $135亿 | +1.2% | $138亿 | $133亿 | +4.0% |
| Buildings and Improvements, Gross | $3.94亿2025-12-31 | $3.68亿 | +7.1% | $3.94亿 | $3.68亿 | +7.1% |
| Cash and Cash Equivalents, at Carrying Value | $7.74亿 | $10.6亿 | -26.8% | $9.18亿 | $13亿 | -29.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $8.3亿 | $11.3亿 | -26.3% | $9.7亿 | $13.8亿 | -29.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$2.34亿 | $6.78亿 | -134.5% | -$4.06亿 | $5.01亿 | -181.0% |
| Common Stock, Capital Shares Reserved for Future Issuance | 910万2025-12-31 | 970万 | -6.2% | 910万 | 970万 | -6.2% |
| Common Stock, Dividends, Per Share, Declared | $0.15 | $0.15 | 0.0% | $0.60 | $0.60 | 0.0% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 100亿 | 100亿 | 0.0% | 100亿 | 100亿 | 0.0% |
| Common Stock, Shares, Outstanding | 2.23亿 | 2.33亿 | -4.3% | 2.3亿 | 2.42亿 | -4.7% |
| Common Stock, Value, Outstanding | $300万 | $300万 | 0.0% | $300万 | $300万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $100万 | $0 | – | $400万 | $300万 | +33.3% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $5.44亿 | $4.12亿 | +32.0% | $15.1亿 | $14.8亿 | +1.8% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $5.45亿 | $4.12亿 | +32.3% | $15.1亿 | $14.9亿 | +1.8% |
| Construction in Progress, Gross | $5700万2025-12-31 | $6500万 | -12.3% | $5700万 | $6500万 | -12.3% |
| Contract with Customer, Liability | $24.5亿 | $19.8亿 | +24.1% | $23.5亿 | $18.3亿 | +28.7% |
| Contract with Customer, Liability, Revenue Recognized | $2.37亿 | $1.8亿 | +31.7% | -$5.7亿 | -$4.18亿 | -36.4% |
| Costs and Expenses | $24.2亿 | $23.4亿 | +3.1% | $93.5亿 | $88.1亿 | +6.1% |
| Current Federal Tax Expense (Benefit) | – | – | – | $3.29亿 | $3.57亿 | -7.8% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1.19亿 | $5200万 | +128.8% |
| Current Income Tax Expense (Benefit) | – | – | – | $5.47亿 | $4.91亿 | +11.4% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $9900万 | $8200万 | +20.7% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | -$9600万 | -$8800万 | -9.1% | -$9600万 | -$8500万 | -12.9% |
| Deferred Compensation Arrangement with Individual, Allocated Share-based Compensation Expense | $5900万 | $4400万 | +34.1% | $1.7亿 | $1.76亿 | -3.4% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$800万 | -$5100万 | +84.3% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $7400万 | -$1.81亿 | +140.9% |
| Deferred Income Tax Expense (Benefit) | -$200万 | $4800万 | -104.2% | $6400万 | -$2.47亿 | +125.9% |
| Deferred Income Taxes and Other Assets, Noncurrent | $2.02亿 | $3.18亿 | -36.5% | $2.52亿 | $3.18亿 | -20.8% |
| Deferred Revenue, Current | $8.28亿 | $6.37亿 | +30.0% | $8.58亿 | $6.64亿 | +29.2% |
| Deferred Revenue, Noncurrent | $17.2亿 | $14.2亿 | +21.4% | $16.5亿 | $13亿 | +26.8% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$200万 | -$1500万 | +86.7% |
| Deferred Tax Assets, Deferred Income | $7.53亿2025-12-31 | $6.59亿 | +14.3% | $7.53亿 | $6.59亿 | +14.3% |
| Deferred Tax Assets, Gross | $27.1亿2025-12-31 | $26亿 | +4.2% | $27.1亿 | $26亿 | +4.2% |
| Deferred Tax Assets, Net of Valuation Allowance | $14.8亿2025-12-31 | $14亿 | +5.6% | $14.8亿 | $14亿 | +5.6% |
| Deferred Tax Assets, Operating Loss Carryforwards | $4.93亿2025-12-31 | $5.25亿 | -6.1% | $4.93亿 | $5.25亿 | -6.1% |
| Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration | $4.61亿2025-12-31 | $4.98亿 | -7.4% | $4.61亿 | $4.98亿 | -7.4% |
| Deferred Tax Assets, Operating Loss Carryforwards, State and Local | $4.93亿2025-12-31 | $5.25亿 | -6.1% | $4.93亿 | $5.25亿 | -6.1% |
| Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | $3200万2025-12-31 | $2700万 | +18.5% | $3200万 | $2700万 | +18.5% |
| Deferred Tax Assets, Other | $1.4亿2025-12-31 | $1.27亿 | +10.2% | $1.4亿 | $1.27亿 | +10.2% |
| Deferred Tax Assets, Tax Credit Carryforwards, Foreign | $7900万2025-12-31 | $7000万 | +12.9% | $7900万 | $7000万 | +12.9% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Compensation | $1.15亿2025-12-31 | $1.18亿 | -2.5% | $1.15亿 | $1.18亿 | -2.5% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Deferred Rent | $3.37亿2025-12-31 | $2.82亿 | +19.5% | $3.37亿 | $2.82亿 | +19.5% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Other | $5100万2025-12-31 | $5700万 | -10.5% | $5100万 | $5700万 | -10.5% |
| Deferred Tax Assets, Valuation Allowance | $12.3亿2025-12-31 | $12亿 | +2.5% | $12.3亿 | $12亿 | +2.5% |
| Deferred Tax Liabilities, Deferred Expense | $2.44亿 | $3.35亿 | -27.2% | $3.22亿 | $3.22亿 | 0.0% |
| Deferred Tax Liabilities, Gross | $15.5亿2025-12-31 | $14.1亿 | +10.3% | $15.5亿 | $14.1亿 | +10.3% |
| Deferred Tax Liabilities, Net | $7000万2025-12-31 | $400万 | +1,650.0% | $7000万 | $400万 | +1,650.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01