Hilton Worldwide Holdings Inc. (HLT) Income Statement
HLT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHLT revenue and net income
Where HLT's revenue goes
2025Each bar shows an amount and its share of revenue. HLT kept 12.1% of revenue as net income.
HLT profit margins
HLT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.7% | +11.1% | +22.8% | +0.7% |
| Gross profit | +61.7% | +22.5% | +53.4% | +11.2% |
| Operating income | +13.6% | +8.7% | — | +11.6% |
| Net income | −5.1% | +5.1% | — | +0.4% |
| EPS (diluted) | +13.9% | +18.3% | +146.0% | +12.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HLT quarterly EPS vs estimates
Hilton beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 27, 2026 (estimate $2.35).
HLT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.04B | $11.17B | $10.23B | $8.77B | $5.79B | $4.31B | $9.45B | $8.91B | $3.40B | $6.58B |
| Cost of revenue | $7.08B | $8.11B | $7.30B | $6.08B | $4.13B | $3.72B | $7.02B | $6.66B | $6.17B | $4.89B |
| Gross profit | $4.95B | $3.06B | $2.93B | $2.70B | $1.66B | $583.0M | $2.44B | $2.25B | $1.96B | $1.69B |
| Research & development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $393.0M | $415.0M | $411.0M | $382.0M | $405.0M | $311.0M | $441.0M | $443.0M | $449.0M | $417.0M |
| Total operating expenses | $2.26B | $693.0M | $705.0M | $604.0M | $645.0M | $1.00B | $778.0M | $819.0M | $831.0M | $820.0M |
| Operating income | $2.69B | $2.37B | $2.23B | $2.09B | $1.01B | −$418.0M | $1.66B | $1.43B | $1.13B | $868.0M |
| Interest income | $631.0M | $581.0M | $572.0M | $410.0M | $404.0M | $456.0M | $416.0M | $382.0M | $348.0M | $12.0M |
| Interest expense | $620.0M | $569.0M | $464.0M | $415.0M | $397.0M | $429.0M | $414.0M | $371.0M | $351.0M | $334.0M |
| Income before taxes | $2.07B | $1.78B | $1.69B | $1.73B | $560.0M | −$924.0M | $1.24B | $1.08B | $753.0M | $540.0M |
| Income taxes | $615.0M | $244.0M | $541.0M | $477.0M | $153.0M | −$204.0M | $358.0M | $309.0M | −$336.0M | $557.0M |
| Net income | $1.46B | $1.53B | $1.14B | $1.25B | $410.0M | −$715.0M | $881.0M | $764.0M | $1.08B | $338.0M |
| EBITDA | $2.87B | $2.50B | $2.30B | $2.31B | $1.15B | −$164.0M | $2.00B | $1.77B | $1.44B | $1.55B |
| EPS (diluted) | $8.11 | $7.12 | $6.22 | $4.90 | $2.08 | $0.09 | $3.91 | $2.81 | $2.00 | $2.65 |
| Gross margin | 41.1% | 27.4% | 28.6% | 30.8% | 28.6% | 13.5% | 25.8% | 25.3% | 57.7% | 25.7% |
| Operating margin | 22.4% | 21.2% | 21.7% | 23.9% | 17.4% | −9.7% | 17.5% | 16.1% | 33.3% | 13.2% |
| Net margin | 12.1% | 13.7% | 11.1% | 14.3% | 7.1% | −16.6% | 9.3% | 8.6% | 31.8% | 5.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.34B | $2.94B | $3.09B | $3.12B | $3.14B | $2.69B | $2.78B | $2.87B | $2.95B | $2.57B | $2.61B | $2.67B |
| Cost of revenue | $2.32B | $1.75B | $727.0M | $2.18B | $2.18B | $2.00B | $2.11B | $2.08B | $2.04B | $1.88B | $2.00B | $1.86B |
| Gross profit | $1.02B | $1.18B | $2.36B | $941.0M | $956.0M | $697.0M | $669.0M | $789.0M | $909.0M | $696.0M | $613.0M | $815.0M |
| Sales, general & admin | $114.0M | $103.0M | $95.0M | $95.0M | $109.0M | $94.0M | $97.0M | $101.0M | $115.0M | $104.0M | $110.0M | $96.0M |
| Total operating expenses | $160.0M | $504.0M | $1.76B | $164.0M | $178.0M | $161.0M | $180.0M | $166.0M | $184.0M | $163.0M | $213.0M | $162.0M |
| Operating income | $858.0M | $678.0M | $602.0M | $777.0M | $778.0M | $536.0M | $489.0M | $623.0M | $725.0M | $533.0M | $400.0M | $653.0M |
| Interest income | — | — | $168.0M | $168.0M | $152.0M | $143.0M | $164.0M | $143.0M | — | — | — | $120.0M |
| Interest expense | $183.0M | $162.0M | $165.0M | $159.0M | $151.0M | $145.0M | $157.0M | $140.0M | $141.0M | $131.0M | $124.0M | $113.0M |
| Income before taxes | $680.0M | $518.0M | $429.0M | $604.0M | $629.0M | $410.0M | $336.0M | $491.0M | $591.0M | $365.0M | $274.0M | $548.0M |
| Income taxes | $198.0M | $135.0M | $135.0M | $183.0M | $187.0M | $110.0M | −$169.0M | $147.0M | $169.0M | $97.0M | $124.0M | $169.0M |
| Net income | $482.0M | $385.0M | $297.0M | $420.0M | $440.0M | $300.0M | $505.0M | $344.0M | $421.0M | $265.0M | $147.0M | $377.0M |
| EBITDA | $912.0M | $730.0M | $642.0M | $809.0M | $823.0M | $596.0M | $532.0M | $668.0M | $766.0M | $532.0M | $431.0M | $701.0M |
| EPS (diluted) | $2.29 | $2.01 | $2.08 | $2.11 | $2.20 | $1.72 | $1.76 | $1.92 | $1.91 | $1.53 | $1.68 | $1.67 |
| Gross margin | 30.5% | 40.2% | 76.4% | 30.2% | 30.5% | 25.9% | 24.0% | 27.5% | 30.8% | 27.1% | 23.5% | 30.5% |
| Operating margin | 25.7% | 23.1% | 19.5% | 24.9% | 24.8% | 19.9% | 17.6% | 21.7% | 24.6% | 20.7% | 15.3% | 24.4% |
| Net margin | 14.4% | 13.1% | 9.6% | 13.5% | 14.0% | 11.1% | 18.1% | 12.0% | 14.3% | 10.3% | 5.6% | 14.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HLT's financial statements (latest annual report filed February 11, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HLT financial results
In fiscal year 2025 (ended December 31, 2025), Hilton reported revenue of $12.0 billion, up 7.7% from the year before. It had net income of $1.5 billion (down 5.1%), a net profit margin of 12.1%. Diluted earnings per share came to $8.11. Over five years revenue grew at an average rate of 22.8% a year.
See the HLT stock overview for the latest quote and news, or the HLT chart for price history and technical indicators.
HLT income statement FAQ
What is Hilton's annual revenue?
Hilton reported total revenue of $12.0 billion for fiscal year 2025, which ended on December 31, 2025. That was up 7.7% from $11.2 billion the previous year.
Is Hilton profitable?
Yes. Hilton reported net income of $1.5 billion in fiscal 2025, a net profit margin of 12.1%; its operating margin was 22.4%.
What is Hilton's gross margin?
Hilton's gross margin was 41.1% in fiscal 2025: for every $100 of revenue, Hilton kept $41 after the direct cost of its products and services.
How fast is Hilton growing?
Revenue grew 22.8% a year on average over the last five fiscal years, from $4.3 billion to $12.0 billion.
What are Hilton's earnings per share?
Hilton earned $8.11 per diluted share in fiscal 2025, compared with $7.12 a year earlier.
When will Hilton report its next earnings?
Hilton is expected to report results for the quarter ending September 30, 2026 on October 27, 2026 before the market opens.
When does Hilton's fiscal year end?
Hilton's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 11, 2026.