Hyatt Hotels Corporation (H) Balance Sheet
H balance sheet, 2025
December 31, 2025 · U.S. dollars$14.04B assets = $10.38B liabilities + $3.66B equity
Both columns are drawn to the same scale: what H owns equals what it owes plus shareholders’ equity. Hover a block for its value.
H financial health
Current ratio0.75
Tight · current assets cover current liabilities 0.75×
Debt / equity1.37
Moderate leverage · $1.37 of debt for each $1 of equity
Equity / assets23.8%
Balanced · of assets funded by shareholders
Cash / debt17.8%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles40.5%
Acquisition-heavy · of total assets
Descriptive bands, not a rating. Fiscal 2025.
H balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $7.75B2016 | $14.04B2025 | +6.8%/yr | |
| Total liabilities | $3.84B2016 | $10.38B2025 | +11.7%/yr | |
| Shareholders’ equity | $3.90B2016 | $3.33B2025 | −1.7%/yr | |
| Cash & short-term investments | $538.0M2016 | $813.0M2025 | +4.7%/yr | |
| Total debt | $1.56B2016 | $4.56B2025 | +12.6%/yr | |
| Net cash (debt) | −$1.03B2016 | −$3.74B2025 | −$2.7B | |
| Working capital | $215.0M2016 | −$717.0M2025 | −$932.0M | |
| Book value per share | $29.142016 | $34.912025 | +2.0%/yr | |
| Current ratio | 1.232016 | 0.752025 | −0.48 | |
| Debt / equity | 0.402016 | 1.372025 | +0.97 | |
| Shares outstanding | 133.9M2016 | 95.5M2025 | −3.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
H assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
H liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
H debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
H balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $813.0M | $1.38B | $896.0M | $1.15B | $1.19B | $1.88B | $961.0M | $686.0M | $552.0M | $538.0M |
| Cash & equivalents | $787.0M | $1.01B | $881.0M | $991.0M | $960.0M | $1.21B | $893.0M | $570.0M | $503.0M | $482.0M |
| Short-term investments | $26.0M | $372.0M | $15.0M | $158.0M | $227.0M | $675.0M | $68.0M | $116.0M | $49.0M | $56.0M |
| Receivables | $1.12B | $1.12B | $883.0M | $834.0M | $633.0M | $316.0M | $421.0M | $427.0M | $350.0M | $304.0M |
| Inventory | $8.0M | $8.0M | $9.0M | $9.0M | $10.0M | $9.0M | $12.0M | $14.0M | $14.0M | $28.0M |
| Other current assets | $233.0M | $221.0M | $342.0M | $258.0M | $232.0M | $356.0M | $312.0M | $218.0M | $411.0M | $269.0M |
| Total current assets | $2.18B | $2.73B | $2.13B | $2.25B | $2.06B | $2.56B | $1.71B | $1.34B | $1.33B | $1.14B |
| Property, plant & equipment (net) | $1.91B | $2.02B | $2.71B | $2.77B | $3.29B | $3.60B | $3.95B | $3.61B | $4.03B | $4.27B |
| Goodwill & intangible assets | $5.68B | $4.71B | $4.88B | $4.77B | $4.94B | $673.0M | $763.0M | $911.0M | $833.0M | $724.0M |
| Long-term investments | $1.45B | $1.34B | $993.0M | $238.0M | $257.0M | $289.0M | $267.0M | $246.0M | $230.0M | $205.0M |
| Other non-current assets | $2.83B | $2.52B | $2.13B | $2.29B | $2.05B | $2.00B | $1.73B | $1.53B | $1.25B | $1.41B |
| Total assets | $14.04B | $13.32B | $12.83B | $12.31B | $12.60B | $9.13B | $8.42B | $7.64B | $7.67B | $7.75B |
| Liabilities | ||||||||||
| Accounts payable | $451.0M | $475.0M | $493.0M | $500.0M | $523.0M | $102.0M | $150.0M | $151.0M | $136.0M | $162.0M |
| Short-term debt | $41.0M | $489.0M | $792.0M | $699.0M | $45.0M | $289.0M | $43.0M | $11.0M | $11.0M | $119.0M |
| Deferred revenue | $1.58B | $1.55B | $1.60B | $1.44B | $1.18B | $282.0M | $445.0M | $388.0M | $348.0M | — |
| Total current liabilities | $2.89B | $3.27B | $3.58B | $3.29B | $2.23B | $984.0M | $1.09B | $1.06B | $966.0M | $924.0M |
| Long-term debt | $4.27B | $3.33B | $2.31B | $2.45B | $3.97B | $2.98B | $1.61B | $1.62B | $1.44B | $1.45B |
| Lease obligations | $278.0M | $278.0M | $314.0M | $337.0M | $384.0M | $406.0M | $425.0M | — | — | — |
| Other long-term liabilities | $3.21B | $2.90B | $3.38B | $2.87B | $2.84B | $1.95B | $1.75B | $1.28B | $1.73B | $1.47B |
| Total liabilities | $10.38B | $9.50B | $9.27B | $8.61B | $9.04B | $5.92B | $4.45B | $3.97B | $4.13B | $3.84B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $968.0M | $1.69B |
| Retained earnings (deficit) | $3.48B | $3.81B | $3.74B | $3.62B | $3.17B | $3.39B | $4.17B | $3.82B | $2.74B | $2.49B |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$149.0M | −$269.0M | −$175.0M | −$242.0M | −$245.0M | −$192.0M | −$209.0M | −$200.0M | −$185.0M | −$277.0M |
| Minority interest | $325.0M | $279.0M | $3.0M | $3.0M | $3.0M | $3.0M | $5.0M | $7.0M | $6.0M | $5.0M |
| Total shareholders' equity | $3.33B | $3.55B | $3.56B | $3.70B | $3.56B | $3.21B | $3.96B | $3.67B | $3.52B | $3.90B |
| Key figures | ||||||||||
| Total debt | $4.56B | $4.06B | $3.37B | $3.45B | $4.36B | $3.65B | $2.05B | $1.63B | $1.45B | $1.56B |
| Net cash (debt) | −$3.74B | −$2.68B | −$2.47B | −$2.30B | −$3.17B | −$1.77B | −$1.09B | −$948.0M | −$899.0M | −$1.03B |
| Working capital | −$717.0M | −$541.0M | −$1.45B | −$1.04B | −$170.0M | $1.58B | $620.0M | $284.0M | $361.0M | $215.0M |
| Tangible book value | −$2.35B | −$1.16B | −$1.31B | −$1.07B | −$1.38B | $2.54B | $3.20B | $2.76B | $2.69B | $3.18B |
| Book value per share | $34.91 | $34.63 | $33.08 | $33.24 | $34.27 | $31.69 | $37.27 | $31.88 | $27.90 | $29.14 |
| Shares outstanding | 95.5M | 102.4M | 107.7M | 111.3M | 104.0M | 101.3M | 106.3M | 115.1M | 126.3M | 133.9M |
| Current ratio | 0.75 | 0.83 | 0.60 | 0.68 | 0.92 | 2.60 | 1.57 | 1.27 | 1.37 | 1.23 |
| Quick ratio | 0.67 | 0.76 | 0.50 | 0.60 | 0.82 | 2.23 | 1.27 | 1.05 | 0.93 | 0.91 |
| Debt / equity | 1.37 | 1.14 | 0.95 | 0.93 | 1.22 | 1.14 | 0.52 | 0.45 | 0.41 | 0.40 |
| Equity / assets | 23.8% | 26.6% | 27.8% | 30.0% | 28.3% | 35.2% | 47.1% | 48.0% | 45.9% | 50.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $606.0M | $671.0M | $813.0M | $749.0M | $912.0M | $1.80B | $1.38B | $1.13B | $1.96B | $794.0M | $896.0M | $727.0M |
| Cash & equivalents | $537.0M | $593.0M | $787.0M | $697.0M | $846.0M | $1.74B | $1.01B | $1.09B | $1.25B | $740.0M | $881.0M | $701.0M |
| Short-term investments | $69.0M | $78.0M | $26.0M | $52.0M | $66.0M | $70.0M | $372.0M | $39.0M | $704.0M | $54.0M | $15.0M | $26.0M |
| Receivables | $1.11B | $1.10B | $1.12B | $930.0M | $982.0M | $1.24B | $1.12B | $960.0M | $866.0M | $895.0M | $883.0M | $762.0M |
| Inventory | $0 | $0 | $8.0M | $9.0M | $9.0M | $8.0M | $8.0M | $8.0M | $9.0M | $9.0M | $9.0M | $10.0M |
| Other current assets | $321.0M | $316.0M | $233.0M | $429.0M | $416.0M | $231.0M | $221.0M | $214.0M | $252.0M | $309.0M | $342.0M | $252.0M |
| Total current assets | $2.04B | $2.08B | $2.18B | $2.12B | $2.32B | $3.28B | $2.73B | $2.32B | $3.08B | $2.01B | $2.13B | $1.75B |
| Property, plant & equipment (net) | $1.86B | $1.88B | $1.91B | $2.06B | $2.07B | $2.03B | $2.02B | $1.97B | $2.42B | $2.60B | $2.71B | $2.74B |
| Goodwill & intangible assets | $5.57B | $5.61B | $5.68B | $5.71B | $5.76B | $4.76B | $4.71B | $3.80B | $3.83B | $3.84B | $4.88B | $4.93B |
| Long-term investments | $1.48B | $1.46B | $1.45B | $1.27B | $1.27B | $1.38B | $1.34B | $1.40B | $1.16B | $1.16B | $993.0M | $953.0M |
| Other non-current assets | $3.03B | $2.87B | $2.83B | $4.54B | $4.49B | $2.55B | $2.52B | $2.38B | $2.26B | $2.11B | $2.13B | $1.94B |
| Total assets | $13.98B | $13.90B | $14.04B | $15.71B | $15.91B | $14.00B | $13.32B | $11.87B | $12.76B | $11.72B | $12.83B | $12.32B |
| Liabilities | ||||||||||||
| Accounts payable | $530.0M | $612.0M | $451.0M | $360.0M | $476.0M | $560.0M | $475.0M | $346.0M | $488.0M | $539.0M | $493.0M | $369.0M |
| Short-term debt | $605.0M | $605.0M | $41.0M | $442.0M | $442.0M | $440.0M | $489.0M | $489.0M | $1.24B | $788.0M | $792.0M | $46.0M |
| Deferred revenue | $1.47B | $1.53B | $1.58B | $1.33B | $1.45B | $1.56B | $1.55B | $1.30B | $1.39B | $1.46B | $1.60B | $1.35B |
| Total current liabilities | $3.29B | $3.45B | $2.89B | $3.08B | $3.29B | $3.35B | $3.27B | $2.94B | $3.74B | $3.38B | $3.58B | $2.41B |
| Long-term debt | $3.68B | $3.67B | $4.27B | $5.61B | $5.63B | $3.92B | $3.33B | $2.69B | $2.68B | $2.30B | $2.31B | $3.05B |
| Lease obligations | $228.0M | $234.0M | $278.0M | $286.0M | $291.0M | $279.0M | $278.0M | $285.0M | $283.0M | $289.0M | $314.0M | $316.0M |
| Other long-term liabilities | $3.39B | $3.23B | $3.21B | $3.21B | $3.10B | $2.97B | $2.90B | $2.54B | $2.48B | $2.37B | $3.38B | $3.27B |
| Total liabilities | $10.35B | $10.35B | $10.38B | $11.90B | $12.02B | $10.24B | $9.50B | $8.16B | $8.90B | $8.06B | $9.27B | $8.73B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M |
| Retained earnings (deficit) | $3.48B | $3.38B | $3.48B | $3.60B | $3.67B | $3.68B | $3.81B | $3.89B | $4.08B | $3.85B | $3.74B | $3.78B |
| Accumulated other comprehensive income | −$177.0M | −$155.0M | −$149.0M | −$135.0M | −$134.0M | −$224.0M | −$269.0M | −$190.0M | −$233.0M | −$197.0M | −$175.0M | −$224.0M |
| Minority interest | $318.0M | $323.0M | $325.0M | $324.0M | $326.0M | — | — | — | — | — | — | — |
| Total shareholders' equity | $3.31B | $3.23B | $3.33B | $3.48B | $3.56B | $3.46B | $3.55B | $3.70B | $3.85B | $3.66B | $3.56B | $3.59B |
| Key figures | ||||||||||||
| Total debt | $4.51B | $4.51B | $4.56B | $6.30B | $6.33B | $4.61B | $4.06B | $3.43B | $4.17B | $3.34B | $3.37B | $3.37B |
| Net cash (debt) | −$3.90B | −$3.84B | −$3.74B | −$5.55B | −$5.41B | −$2.80B | −$2.68B | −$2.29B | −$2.21B | −$2.55B | −$2.47B | −$2.64B |
| Working capital | −$1.25B | −$1.36B | −$717.0M | −$967.0M | −$975.0M | −$62.0M | −$541.0M | −$620.0M | −$660.0M | −$1.38B | −$1.45B | −$657.0M |
| Tangible book value | −$2.27B | −$2.39B | −$2.35B | −$2.23B | −$2.20B | −$1.30B | −$1.16B | −$106.0M | $17.0M | −$181.0M | −$1.31B | −$1.34B |
| Book value per share | $34.19 | $33.32 | $35.09 | $36.48 | $36.45 | $35.29 | $36.87 | $36.36 | $37.13 | $34.53 | $33.59 | $33.56 |
| Shares outstanding | 96.7M | 96.9M | 95.0M | 95.5M | 97.7M | 98.1M | 96.2M | 101.7M | 103.7M | 105.9M | 106.1M | 106.9M |
| Current ratio | 0.62 | 0.60 | 0.75 | 0.69 | 0.70 | 0.98 | 0.83 | 0.79 | 0.82 | 0.59 | 0.60 | 0.73 |
| Quick ratio | 0.52 | 0.51 | 0.67 | 0.54 | 0.57 | 0.91 | 0.76 | 0.71 | 0.75 | 0.50 | 0.50 | 0.62 |
| Debt / equity | 1.36 | 1.40 | 1.37 | 1.81 | 1.78 | 1.33 | 1.14 | 0.93 | 1.08 | 0.91 | 0.95 | 0.94 |
| Equity / assets | 23.7% | 23.2% | 23.8% | 22.2% | 22.4% | 24.7% | 26.6% | 31.2% | 30.2% | 31.2% | 27.8% | 29.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 13, 2026); data from EODHD.
H financial position
At the end of fiscal 2025 (December 31, 2025), Hyatt had total assets of $14.0 billion (up 5.3% from a year earlier), total liabilities of $10.4 billion and shareholders' equity of $3.3 billion. It held $813.0 million in cash and short-term investments against $4.6 billion of debt, net debt of $3.7 billion. Its current ratio was 0.75. In the latest quarter (ended June 30, 2026) total assets were $14.0 billion and equity $3.3 billion.
Related: H income statement, H cash flow statement, H key metrics. See the H stock overview for the latest quote and news.
H balance sheet FAQ
What are Hyatt's total assets?
Hyatt reported total assets of $14.0 billion at the end of fiscal 2025 (December 31, 2025), compared with $13.3 billion a year earlier.
How much debt does Hyatt have?
Hyatt had $4.6 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.37.
How much cash does Hyatt have?
Hyatt held $813.0 million in cash and short-term investments at the end of fiscal 2025; with $4.6 billion of debt that is net debt of $3.7 billion.
What is Hyatt's book value?
Hyatt's shareholders' equity (book value) was $3.3 billion at the end of fiscal 2025, or $34.91 per share.
What is Hyatt's current ratio?
Hyatt had current assets of $2.2 billion and current liabilities of $2.9 billion, a current ratio of 0.75 (current liabilities exceed current assets).
How much goodwill does Hyatt have?
Hyatt carried $5.7 billion of goodwill and intangible assets, 40.5% of total assets, at the end of fiscal 2025.