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Hilton Grand Vacations HGV License fee expense — Expenses

Other product segments

Sales and marketing
$437M+2.8%
Rental and ancillary services
$216M+4.9%
Cost reimbursements
$149M+12.0%
Resort and club management
$59M+9.3%
Financing
$51M-7.3%
Cost of VOI sales
$45M+80.0%
Acquisition and integration-related expense
$12M-57.1%

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TNLVacation Ownership — Licensing fees
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TNLTravel and Membership — Licensing fees
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OLEDRoyalty expense
$104K-8.8%
Wyndham Hotels & Resorts, Inc. logo
WHLicense and other fees — Royalties and franchise fee revenues
$30M+11.1%
Caterpillar logo
CATLicense fee income
$35.75M+0.7%
Construction Partners logo
ROADRoyalty expense
$800K0.0%

Other financials

Income statement

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Revenue$1.3B+11.9%
Net income$66.0M+488%
EPS (diluted)$0.79+565%

Balance sheet

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Cash & equivalents$552.0M-3.2%
Total debt$4.8B+5.6%
Total equity$1.2B-24.4%
Total assets$11.9B+1.2%

Cash flow

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Operating cash flow$128.0M+237%
CapEx$6.0M-57.1%
Free cash flow$122.0M+408%

Valuation

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Market cap$4.14B-10.2%
Enterprise value$8.43B-1.2%
P/E25.2×-110×
P/S0.8×-0.1×

Profitability

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Net margin3.2%+2.5pp
FCF margin6.3%+0.3pp

Returns & leverage

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Return on equity11.8%+9.9pp
Debt / equity+1.1×

Where this comes from

Reported directly by Hilton Grand Vacations in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

The official record: Hilton Grand Vacations’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Hilton Grand Vacations's license fee expense — expenses?
Hilton Grand Vacations (HGV) reported license fee expense — expenses of $53M in Q1 2026.
How has Hilton Grand Vacations's license fee expense — expenses changed year-over-year?
Hilton Grand Vacations's license fee expense — expenses increased by 8.2% year-over-year, from $49M to $53M.
What is the long-term trend for Hilton Grand Vacations's license fee expense — expenses?
Over 4 years (2021 to 2025), Hilton Grand Vacations's license fee expense — expenses has grown at a 27.9% compound annual growth rate (CAGR), from $80M to $214M.
What does license fee expense — expenses mean?
This metric represents the recurring costs incurred by the company for the right to use a third-party brand name, intellectual property, or proprietary reservation systems in its operations. It reflects the royalty or licensing obligations paid to external partners to leverage established brand equity within the timeshare and hospitality market. Monitoring this expense provides insight into the cost structure associated with brand-dependent business models and the impact of brand licensing agreements on operating margins.