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Hilton Grand Vacations Inc. develops, markets, sells, manages, and operates the resorts, timeshare plans, and ancillary reservation services under the Hilton Grand Vacations brand in the United States, Japan, and Europe. The company operates through two segments: Real Estate Sales and Financing, and Resort Operations and Club Management segments. The Real Estate Sales and Financing segment market and sells the VOIs, and source VOIs through fee-for-service agreements; and provides consumer financing and services loans. The Resort Operations and Club Management segment manages and operates the clubs which provides exchange, leisure travel, and reservation services, as well as engages in the rental of inventory made available due to ownership exchanges through its club programs, and provides ancillary services including food and beverage, retail and spa at timeshare properties. Hilton Grand Vacations Inc. was founded in 1992 and is headquartered in Orlando, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $5.0B | $759M | $81M | $154M | 5.6% | 1.3% | 72.3% |
| 2024 | $5.0B | $733M | $47M | $183M | 2.5% | 25.2% | -85.0% |
| 2023 | $4.0B | $840M | $313M | $237M | 14.8% | 3.7% | -11.1% |
| 2022 | $3.8B | $867M | $352M | $650M | 16.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 3,835 | 3,978 | 4,981 | 5,047 |
| Cost Of Revenue | 2,560 | 1,417 | 1,796 | 1,821 |
| Gross Profit | 1,275 | 2,561 | 3,185 | 3,226 |
| Operating Expense | 580 | 1,826 | 2,406 | 2,573 |
| Operating Income | 695 | 735 | 779 | 653 |
| EBITDA | 867 | 840 | 733 | 759 |
| EBIT | 623 | 627 | 465 | 486 |
| Pretax Income | 481 | 449 | 136 | 175 |
| Tax Provision | 129 | 136 | 76 | 76 |
| Net Income | 352 | 313 | 47 | 81 |
| Net Income Common Stockholders | 352 | 313 | 47 | 81 |
| Total Expenses | 3,140 | 3,243 | 4,202 | 4,394 |
| Interest Expense | 142 | 178 | 329 | 311 |
| Selling General And Administration | 212 | 1,475 | 1,967 | 2,086 |
| Normalized EBITDA | 951 | 911 | 972 | 860 |
| Normalized Income | 413.47 | 362.49 | 235.81 | 160.79 |
| Basic EPS | 2.98 | 2.84 | 0.46 | 0.90 |
| Diluted EPS | 2.93 | 2.80 | 0.45 | 0.89 |
| Tax Effect Of Unusual Items | -22.53 | -21.51 | -50.19 | -21.21 |
| Tax Rate For Calcs | 0.27 | 0.30 | 0.21 | 0.21 |
| Total Unusual Items | -84 | -71 | -239 | -101 |
| Total Unusual Items Excluding Goodwill | -84 | -71 | -239 | -101 |
| Net Income From Continuing Operation Net Minority Interest | 352 | 313 | 47 | 81 |
| Reconciled Depreciation | 244 | 213 | 268 | 273 |
| Reconciled Cost Of Revenue | 2,560 | 1,417 | 1,796 | 1,821 |
| Net Interest Income | -142 | -229 | -411 | -403 |
| Net Income From Continuing And Discontinued Operation | 352 | 313 | 47 | 81 |
| Rent Expense Supplemental | 579 | 612 | 724 | 785 |
| Diluted Average Shares | 120.14 | 111.60 | 103.10 | 91.50 |
| Basic Average Shares | 118.12 | 110.21 | 102.17 | 89.90 |
| Diluted NI Availto Com Stockholders | 352 | 313 | 47 | 81 |
| Minority Interests | 0 | 0 | -13 | -18 |
| Net Income Including Noncontrolling Interests | 352 | 313 | 60 | 99 |
| Net Income Continuous Operations | 352 | 313 | 60 | 99 |
| Other Income Expense | -72 | -57 | -232 | -75 |
| Other Non Operating Income Expenses | -1 | 2 | -11 | 7 |
| Special Income Charges | -84 | -71 | -239 | -101 |
| Write Off | 17 | 3 | 2 | 3 |
| Restructuring And Mergern Acquisition | 67 | 68 | 237 | 98 |
| Earnings From Equity Interest | 13 | 12 | 18 | 19 |
| Net Non Operating Interest Income Expense | -142 | -229 | -411 | -403 |
| Total Other Finance Cost | 0 | 51 | 82 | 92 |
| Interest Expense Non Operating | 142 | 178 | 329 | 311 |
| Other Operating Expenses | 124 | 138 | 171 | 214 |
| Depreciation Amortization Depletion Income Statement | 244 | 213 | 268 | 273 |
| Depreciation And Amortization In Income Statement | 244 | 213 | 268 | 273 |
| Selling And Marketing Expense | 0 | 1,281 | 1,768 | 1,871 |
| General And Administrative Expense | 212 | 194 | 199 | 215 |
| Other Gand A | 212 | 194 | 199 | 215 |
| Operating Revenue | 3,835 | 3,978 | 4,981 | 5,047 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Hilton Grand Vacations Inc.this co. | HGV | $3.5B | 48.76↑ premium | 2.80 | 5.6% | 12.92 |
| Polaris Inc. | PII | $3.8B | - | 4.58 | -55.9% | 16.72 |
| Greif, Inc. | GEF | $3.7B | 27.04 | 1.25 | 12.0% | 8.25 |
| KB Home | KBH | $3.3B | 10.10 | 0.85 | 11.0% | 9.82 |
| Ermenegildo Zegna N.V. | ZGN | $3.1B |
| 26.16 |
| 2.59 |
| 9.0% |
| 15.69 |
| Madison Square Garden Entertainment Corp. | MSGE | $3.1B | 59.39 | 84.95 | -281.4% | 18.64 |
| Global Business Travel Group, Inc. | GBTG | $3.0B | 26.18 | 1.87 | 6.6% | 12.80 |
| Visteon Corporation | VC | $2.9B | 18.07 | 1.85 | 12.2% | 6.60 |
| FIGS, Inc. | FIGS | $2.5B | 79.11 | 5.70 | 7.8% | 47.90 |
| Peer Median | - | 26.18 | 2.23 | 8.4% | 14.24 | |