Hyatt Hotels Corp financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Hyatt Hotels Corp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	4,429	4,685	4,454	5,020	2,066	3,028	5,891	6,667	6,648	7,101
Selling, general and administrative	315	377	320	417	321	366	464	615
General and administrative							435	578	548	555
Interest expense	76	80	76	75	128	163	150	145	180	317
Interest income	19	110	28	25	30	28	44	74	123	137
Other non-operating income	12	42	-49	127	-92	-19	-34	124	257	101
Pre-tax income	282	722	951	1,006	-960	44	363	310	1,563	81
Income tax	76	332	182	240	-257	266	-92	90	267	130
Net income to minority interests	0	1	0	0	0	0	0	0	0	3
Net income	206	389	769	766	-703	-222	455	220	1,296	-52
EPS, basic	1.55	3.12	6.79	7.33	-6.93	-2.13	4.17	2.10	12.99	-0.55
EPS, diluted	1.53	3.08	6.68	7.21	-6.93	-2.13	4.09	2.05	12.65	-0.55
Shares, basic (weighted)	133	125	113	105	101	104	109	105	99.8	95.5
Shares, diluted (weighted)	134	126	115	106	101	104	111	108	102	95.5
Dividend per share			0.15	0.19	0.20			0.15	0.15	0.15

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	482	503	570	893	1,207	960	991	881	1,011	787
Short-term investments	56	49	116	68	675	227	158	15	372	26
Receivables	304	350	427	421	316	633	834	883	1,121	1,123
Inventory	28	14	14	12	9	10	9	9	8	8
Other current assets	153	153	149	134	64	149	180	195	174	241
Total current assets	1,139	1,327	1,345	1,706	2,563	2,062	2,250	2,130	2,733	2,177
Property, plant and equipment	4,270	4,034	3,608	3,456	3,126	2,848	2,384	2,340	1,689	1,577
Lease right-of-use assets				493	474	446	385	369	328	328
Goodwill	125	150	283	326	288	2,965	3,101	3,205	2,541	3,454
Intangible assets	599	305	628	437	385	1,977	1,668	1,670	2,167	2,229
Long-term investments	186	212	233	232						672
Other non-current assets	1,098	1,384	1,353	1,588	1,797	2,034	2,029	2,477	2,843	3,125
Total assets	7,749	7,572	7,643	8,417	9,129	12,603	12,312	12,833	13,324	14,036
Accounts payable	162	136	151	150	102	523	500	493	475	451
Accrued liabilities	514	352	361	304	200	299	415	468	565	627
Deferred revenue		348	388	445	282	1,178	1,438	1,598	1,553	1,584
Short-term debt	119	11	11	11	260	10	660	751	456	6
Total current liabilities	924	992	1,061	1,086	984	2,232	3,287	3,578	3,274	2,894
Long-term debt	1,445	1,440	1,623	1,612	2,984	3,968	2,453	2,305	3,326	4,272
Lease liabilities				393	377	349	298	273	245	243
Other non-current liabilities	1,472	863	840	884	911	1,139	1,077	1,351	1,810	1,956
Total liabilities	3,841	3,719	3,966	4,450	5,915	9,037	8,610	9,266	9,498	10,377
Total debt	1,565	1,440	1,623	1,612	2,984	3,968	2,453	2,305	3,326	4,272
Paid-in capital	1,686	967	50	0	13	640	318	0	0	0
Retained earnings	2,493	3,054	3,819	4,170	3,389	3,167	3,622	3,738	3,815	3,482
Other comprehensive income	-277	-185	-200	-209	-192	-245	-242	-175	-269	-149
Shareholders' equity	3,903	3,837	3,670	3,962	3,211	3,563	3,699	3,564	3,547	3,334
Minority interests	5	6	7	5	3	3	3	3	279	325
Total equity	4,080	3,843	3,677	3,966	3,214	3,566	3,702	3,567	3,826	3,659
Total liabilities and equity	7,749	7,572	7,643	8,417	9,129	12,603	12,312	12,833	13,324	14,036

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	206	390	769	766	-703	-222	455	220	1,296	-49
Depreciation and amortization	326	348	327	329	310	310	426	397	333	325
Stock-based compensation	26	32	28	35	28	59	61	75	64	74
Deferred income tax	-12	56	-33	28	-59	200	-259	-125	-123	-60
Change in receivables	-14	-37	14	-26	120	-85	-209	0	-15	58
Change in inventory	2	12	0	1
Change in payables	7	102	-130	-33	-256	87	96	-29	56	-176
Cash from operations	462	587	341	396	-611	315	674	800	633	379
Capital expenditures	-211	-298	-297	-369	-122	-111	-201	-198	-170	-220
Acquisitions	-492	-259	-678	-18	0	-2,916	-174	-175	-609	-1,274
Purchases of investments	-464	-469
Cash from investing	-372	457	374	585	-736	-1,772	416	-365	81	357
Debt repaid	-438
Stock issued				0	0	575	0	0
Share buybacks	-272	-743	-946	-421	-69	0	-369	-453	-1,190	-293
Dividends paid	0	0	-68	-80	-20	0	0	-47	-60	-57
Cash from financing	-96	-858	-850	-541	1,525	1,288	-1,106	-578	-618	-954
Exchange rate effect	12	-7	5	1	-4	-3	18	-2	-3	-9
Net change in cash	6	179	-130	441	174	-172	2	-148	96	-227
Free cash flow	251	289	44	27	-733	204	473	602	463	159
Interest paid	75	80	73	79	105	145	138	115	167	277
Income taxes paid	95	175	292	175	63	-210	101	153	160	214

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $158.48 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	3.2%	Pre-tax income / revenue.
Net margin	1.1%	Net income / revenue.
FCF margin	3.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.2%	Cash from operations / revenue.
Effective tax rate	64.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	2.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.6%	Net income / average total assets.
Stock-based pay / revenue	1.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.7%	Capital expenditures / revenue.
D&A / revenue	4.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	6.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	28.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-104.0%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-104.3%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-40.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-17.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	-65.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-30.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 5y	-5.6%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-6.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-3.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	0.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	9.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-6.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-5.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.62x	Current assets / current liabilities.
Quick ratio	0.53x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.18x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.29x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	30.6%	Total debt / total assets.
Liabilities / assets	74.1%	Total liabilities / total assets.
Net debt	$3.68B	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	-$1.25B	Current assets - current liabilities.
Goodwill and intangibles / assets	39.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$2.27B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.51x	Revenue / average total assets.
Fixed asset turnover	4.62x	Revenue / average property, plant and equipment.
Receivables turnover	6.25x	Revenue / average receivables.
Days sales outstanding	58 days	365 x average receivables / revenue.
FCF conversion	319.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	43.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.82	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$73.96	Revenue / diluted weighted shares.
FCF per share	$2.61	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.58	Cash from operations / diluted weighted shares.
Book value per share	$34.19	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$23.43	Tangible book value / shares outstanding.
Cash per share	$6.27	(Cash + short-term investments) / shares outstanding.
Payout ratio	72.2%	Dividends paid / net income, when net income is positive.
Dividends / FCF	22.6%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	115.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$14.93B	Share price x shares outstanding.
Enterprise value	$18.61B	Market cap + total debt - cash - short-term investments.
P/E	189x	Market cap / net income. Only when net income is positive.
P/S	2.09x	Market cap / revenue.
P/B	4.52x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	59.3x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	33.7x	Market cap / cash from operations, when positive.
EV/Sales	2.60x	Enterprise value / revenue.
EV/FCF	73.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	1.7%	Free cash flow / market cap.
Earnings yield	0.5%	Net income / market cap (the inverse of P/E).
Dividend yield	0.4%	Dividends paid over the period / market cap.
Shareholder yield	2.3%	(Dividends paid + share buybacks) / market cap.

What was Hyatt Hotels Corp's revenue in fiscal 2025?

Hyatt Hotels Corp reported revenue of $7.10B for fiscal 2025, 6.8% higher than the year before.

Was Hyatt Hotels Corp profitable in fiscal 2025?

No. It reported a net loss of $52.0M.

How much free cash flow did Hyatt Hotels Corp generate in fiscal 2025?

Cash from operations of $379.0M minus capital expenditures of $220.0M left free cash flow of $159.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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