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Hilton Grand Vacations vs Target Hospitality: revenue, profit, margins and growth compared

Hilton Grand Vacations brought in $5B of revenue in fiscal 2025, Target Hospitality $320.6M in fiscal 2025. Revenue changed by +1.3% at Hilton Grand Vacations and -17.0% at Target Hospitality on the year before, so Hilton Grand Vacations grew faster. Hilton Grand Vacations kept 1.6% of its revenue as net profit, Target Hospitality -11.6%.

Side by side, latest fiscal year

HGVTH
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$5B$320.6M
Revenue growth+1.3%-17.0%
Net income$81M-$37.1M
Net margin1.6%-11.6%
Free cash flow$230Mn/a
Free cash flow margin4.6%n/a
Earnings per share (diluted)$0.89-$0.37
Cash$239M$8.3M
Debt$4.5B$3.8M
Price to earnings40.2n/a
Market value$2.8B$2.1B
Dividend yieldn/an/a
Rank by revenue in sector#201 of 778 · Consumer discretionary#611 of 778 · Consumer discretionary

Over the years

Revenue
HGV FY2017: $2BHGV FY2019: $1.8BHGV FY2020: $894MHGV FY2021: $2.3BHGV FY2022: $3.8BHGV FY2023: $4BHGV FY2024: $5BHGV FY2025: $5BTH FY2018: $240.6MTH FY2019: $321.1MTH FY2020: $225.1MTH FY2021: $291.3MTH FY2022: $502MTH FY2023: $563.6MTH FY2024: $386.3MTH FY2025: $320.6MFY17FY18FY19FY20FY21FY22FY23FY24FY25
HGV $5BTH $320.6M
Net income
HGV FY2017: $298.1MHGV FY2019: $215.7MHGV FY2020: -$201MHGV FY2021: $176MHGV FY2022: $352MHGV FY2023: $313MHGV FY2024: $47MHGV FY2025: $81MTH FY2018: $5MTH FY2019: $12MTH FY2020: -$25.1MTH FY2021: -$4.6MTH FY2022: $73.9MTH FY2023: $173.7MTH FY2024: $71.3MTH FY2025: -$37.1MFY17FY18FY19FY20FY21FY22FY23FY24FY25
HGV $81MTH -$37.1M
Net margin
HGV FY2017: 14.9%HGV FY2019: 11.7%HGV FY2020: -22.5%HGV FY2021: 7.5%HGV FY2022: 9.2%HGV FY2023: 7.9%HGV FY2024: 0.9%HGV FY2025: 1.6%TH FY2018: 2.1%TH FY2019: 3.7%TH FY2020: -11.2%TH FY2021: -1.6%TH FY2022: 14.7%TH FY2023: 30.8%TH FY2024: 18.4%TH FY2025: -11.6%FY17FY18FY19FY20FY21FY22FY23FY24FY25
HGV 1.6%TH -11.6%
Revenue growth
HGV FY2019: -8.1%HGV FY2020: -51.4%HGV FY2021: +161.2%HGV FY2022: +64.2%HGV FY2023: +3.7%HGV FY2024: +25.2%HGV FY2025: +1.3%TH FY2019: +33.5%TH FY2020: -29.9%TH FY2021: +29.4%TH FY2022: +72.3%TH FY2023: +12.3%TH FY2024: -31.5%TH FY2025: -17.0%FY19FY20FY21FY22FY23FY24FY25
HGV +1.3%TH -17.0%
Free cash flow
HGV FY2017: -$208MHGV FY2019: $106MHGV FY2020: $71MHGV FY2021: $150MHGV FY2022: $689MHGV FY2023: $281MHGV FY2024: $267MHGV FY2025: $230MFY17FY19FY20FY21FY22FY23FY24FY25
HGV $230MTH

Fiscal years as each company reports them; the two may end in different months.

Questions about Hilton Grand Vacations and Target Hospitality

Which is bigger by revenue, Hilton Grand Vacations or Target Hospitality?

Hilton Grand Vacations is bigger by revenue: $5B in fiscal 2025, against $320.6M for Target Hospitality in fiscal 2025.

Which keeps more of its revenue as profit, Hilton Grand Vacations or Target Hospitality?

Hilton Grand Vacations had a net margin of 1.6% in fiscal 2025; Target Hospitality had -11.6% in fiscal 2025.

Which grew revenue faster, Hilton Grand Vacations or Target Hospitality?

In their latest fiscal years revenue changed by +1.3% at Hilton Grand Vacations and -17.0% at Target Hospitality.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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