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Hilton Worldwide HLT Franchise and licensing fees — Revenue

Other product segments

Cost reimbursement revenues
$1.98B+9.4%
Ownership
$311M-6.3%
Base and other management fees
$99M+2.1%
Other revenues
$72M-6.5%
Incentive management fees
$69M-8.0%

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Other financials

Income statement

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Revenue$3.3B+6.5%
Operating income$858.0M+10.3%
Net income$482.0M+9.5%
EPS (diluted)$2.10+14.1%

Balance sheet

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Cash & equivalents$1.1B+138%
Total debt$15.1B+27.7%
Total equity-$6.3B-37.3%
Total assets$16.9B+6.4%

Cash flow

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Operating cash flow$472.0M-28.3%
CapEx$12.0M-47.8%
Free cash flow$460.0M-27.6%

Valuation

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Market cap$72.47B+18.1%
Enterprise value$86.48B+18.9%
P/E45.8×+7.1×
P/S5.8×+0.5×

Profitability

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Operating margin23.3%+2.2pp
Net margin12.7%-1.2pp
FCF margin16.3%-3.3pp

Returns & leverage

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Return on equity82.6%
Debt / equity89.7×
Current ratio0.6×+0.1×

Where this comes from

Reported directly by Hilton Worldwide in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Hilton Worldwide’s 10-Q, filed July 28, 2026.

Filed
Jul 28, 2026, 10:06 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001585689-26-000043
Line itemThree Months Ended / June 30, 2026Three Months Ended / June 30, 2025Six Months Ended / June 30, 2026Six Months Ended / June 30, 2025
Revenues
Franchise and licensing fees$808$745$1,504$1,370
Base and other management fees9997194185
Incentive management fees6975145147
Ownership311332560566
Other revenues7277138123
1,3591,3262,5412,391
Cost reimbursement revenues1,9821,8113,7373,441

Item 1. Financial Statements

FAQ

What is Hilton Worldwide's franchise and licensing fees — revenue?
Hilton Worldwide (HLT) reported franchise and licensing fees — revenue of $808M in Q2 2026.
How has Hilton Worldwide's franchise and licensing fees — revenue changed year-over-year?
Hilton Worldwide's franchise and licensing fees — revenue increased by 8.5% year-over-year, from $745M to $808M.
What is the long-term trend for Hilton Worldwide's franchise and licensing fees — revenue?
Over 4 years (2021 to 2025), Hilton Worldwide's franchise and licensing fees — revenue has grown at a 16.8% compound annual growth rate (CAGR), from $1.49B to $2.78B.
What does franchise and licensing fees — revenue mean?
This metric represents the total revenue generated from franchise and licensing agreements where third-party owners operate properties under the company's brand names. These fees are typically calculated as a percentage of gross room revenue and other property-level income, providing a high-margin, recurring revenue stream that scales with the company's global footprint. It serves as a primary indicator of the company's asset-light business model performance and brand equity strength.

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