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Hilton Grand Vacations HGV Sales of VOIs — Deferred revenues

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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$3.61B-8.8%
Enterprise value$7.9B-1.7%
P/E22×-47.4×
P/S0.7×-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:IncreaseDecreaseInDeferredRevenue.

The source filing: Hilton Grand Vacations’s 10-K, filed February 26, 2026.

Filed
Feb 26, 2026, 2:10 PM EST
Fiscal year
FY2025
Accession
0001674168-26-000017

During the year ended December 31, 2025, we deferred $368 million of Sales of VOI, net related to projects under construction. We expect to recognize the revenue, costs of VOI sales and direct selling costs related to the projects under construction as of December 31, 2025, upon their completion in 2026.

ITEM 8. Financial Statements and Supplementary Data

FAQ

What is Hilton Grand Vacations's sales of vois — deferred revenues?
Hilton Grand Vacations (HGV) reported sales of vois — deferred revenues of $92M in Q4 2025.
What does sales of vois — deferred revenues mean?
The total balance of revenue related to vacation ownership intervals that has been received or invoiced but remains unearned at the reporting date. This liability reflects the company's obligation to provide future resort access or services to customers. A growing balance typically indicates strong forward-looking sales activity.

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