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HGV

Hilton Grand Vacations Inc.

HGV

Hilton Grand Vacations Inc. • NYSE
$42.83 ▲ 0.68% (+0.29)
Market Cap $3.66 B
52w High $52.08
52w Low $30.59
Dividend Yield 0%
P/E 77.87
Volume 438.81K
Outstanding Shares 85.54M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.3B ▲ $611M ▲ $60M ▲ 4.615% ▲ $0.63 ▲ $191M ▲
Q2-2025 $1.266B ▲ $169M ▼ $25M ▲ 1.975% ▲ $0.26 ▲ $181M ▲
Q1-2025 $1.148B ▼ $520M ▲ $-17M ▼ -1.481% ▼ $-0.18 ▼ $138M ▼
Q4-2024 $1.284B ▼ $169M ▼ $20M ▼ 1.558% ▼ $0.2 ▼ $198M ▼
Q3-2024 $1.306B $1.791B $154M 11.792% $1.52 $245M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $215M ▼ $11.68B ▼ $10.139B ▲ $1.385B ▼
Q2-2025 $269M ▲ $11.738B ▼ $10.098B ▲ $1.489B ▼
Q1-2025 $259M ▼ $11.789B ▲ $10.058B ▲ $1.583B ▼
Q4-2024 $328M ▲ $11.442B ▲ $9.547B ▲ $1.752B ▼
Q3-2024 $297M $11.154B $9.167B $1.845B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $30M ▲ $34M ▼ $-38M ▼ $-39M ▼ $-49M ▼ $13M ▼
Q2-2025 $25M ▲ $61M ▲ $-34M ▼ $-12M ▲ $22M ▲ $46M ▲
Q1-2025 $-12M ▼ $38M ▼ $-32M ▲ $-201M ▼ $-196M ▼ $6M ▼
Q4-2024 $30M ▼ $105M ▲ $-57M ▼ $185M ▲ $225M ▲ $48M ▼
Q3-2024 $32M $91M $-32M $-130M $-60M $59M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Cost Reimbursements
Cost Reimbursements
 $0 ▲$130.00M ▲$130.00M ▲$130.00M ▲
Financing
Financing
 $0 ▲$130.00M ▲$130.00M ▲$130.00M ▲
Rental And Ancillary Service
Rental And Ancillary Service
 $0 ▲$190.00M ▲$200.00M ▲$190.00M ▼
Resort And Club Management
Resort And Club Management
 $0 ▲$180.00M ▲$180.00M ▲$190.00M ▲
Sales Of Vacation Ownership Intervals Net
Sales Of Vacation Ownership Intervals Net
 $920.00M ▲$380.00M ▼$470.00M ▲$470.00M ▲
Sales Marketing Brand And Other Fees
Sales Marketing Brand And Other Fees
 $330.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown very strongly over the last several years, especially as travel rebounded and acquisitions were absorbed. Gross profit has scaled up with that growth, but operating profit has not improved at the same pace, suggesting rising costs or integration and marketing expenses eating into margins. EBITDA has been healthy but not rapidly expanding, which implies the business is growing more in size than in underlying profitability per dollar of sales. Net income dipped sharply in the most recent year despite record revenue, pointing to pressure from interest costs, amortization, or other below-the-line items. Overall, the income statement shows a business that is successfully driving top-line growth but still working to convert that into consistently strong bottom-line results.

Balance Sheet

Balance Sheet The balance sheet has expanded dramatically, mainly due to large acquisitions and growth in the resort portfolio. Assets have increased several-fold since the early 2020s, but this has been funded largely with debt rather than equity. Debt levels are now high compared with the company’s equity base, which increases financial leverage and sensitivity to interest rates and downturns in travel demand. Cash on hand is modest relative to total debt and assets, so the company relies on ongoing cash generation and access to financing. In short, the balance sheet is growth-oriented but carries meaningful leverage risk that needs to be managed carefully.

Cash Flow

Cash Flow Cash flow from operations has been positive and generally stable in recent years, but it has not risen in line with revenue growth. Free cash flow is positive, helped by relatively light spending on traditional capital projects, which fits a timeshare and vacation ownership model where much investment is in inventory and acquisitions. There was a standout year with very strong cash generation earlier in the period, followed by more muted, steady levels, suggesting some one-time working capital tailwinds that did not repeat. The current profile suggests the business can fund itself day to day, but the cushion is not especially large given the debt load, so consistent execution is important.

Competitive Edge

Competitive Edge Hilton Grand Vacations benefits from the strength of the Hilton brand, which gives it instant trust and recognition with travelers and vacation buyers. Its scale has increased meaningfully through acquisitions, giving members access to a wide network of resorts and experiences across many destinations and price tiers. The points-based membership model, ability to link with Hilton’s broader loyalty program, and experiential offerings like exclusive events create stickiness and recurring revenue from a loyal customer base. Competition remains intense from other vacation ownership companies, hotel groups, and alternative accommodations, and the business is cyclical, tied to consumer travel and discretionary spending. Overall, its brand partnership, size, and member network provide a solid competitive foundation, with ongoing integration and customer satisfaction as key swing factors.

Innovation and R&D

Innovation and R&D HGV is not a heavy research-and-development story; instead, it innovates mostly in how it packages and delivers vacation experiences. The company is using data and analytics to personalize offers, recommend trips, and improve marketing efficiency, moving toward a more tailored, “concierge-like” experience for members. Digital tools such as online booking, virtual tours, and app-based member services are now central to its model, though these are increasingly standard across the industry rather than uniquely differentiating. The real product innovation is in programs like HGV Max and Ultimate Access, which broaden where and how members can use their points and emphasize unique events and experiences. Future upside in innovation will likely come from better integration of technology with these membership benefits, rather than from breakthrough new tech.

Summary

HGV has transformed from a smaller, pandemic-hit business into a much larger vacation ownership platform with strong revenue growth and expanded reach. Profitability at the operating level is solid but has not kept pace with the growth in sales, and recent net earnings have been relatively thin, reflecting the costs and financial burden of expansion. The balance sheet shows a classic leveraged growth profile: substantial assets and scale supported by a high level of debt, which amplifies both opportunity and risk. Cash flows are positive and broadly supportive of the current structure, but they do not leave an especially wide margin for error given the leverage. Strategically, the company’s edge rests on the Hilton brand, a growing resort network, and flexible, experience-driven memberships; future outcomes will hinge on successful integration of acquisitions, maintaining member loyalty, managing debt, and navigating the ups and downs of global travel demand.

NEWS

November 17, 2025 · 4:15 PM UTC

Rasmussen University Announces New Corporate Alliance with Hilton Grand Vacations

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October 30, 2025 · 7:30 AM UTC

Hilton Grand Vacations Reports Third Quarter 2025 Results

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October 16, 2025 · 4:15 PM UTC

Hilton Grand Vacations to Report Third Quarter 2025 Results

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October 14, 2025 · 10:10 AM UTC

Hilton Grand Vacations Unveils All-Star Entertainment Lineup for 2026 HGV Tournament of Champions

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