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Hilton Worldwide HLT Management and Franchise — Segment Adjusted EBITDA

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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$73.05B+19.0%
Enterprise value$87.06B+19.7%
P/E46.1×+7.5×
P/S5.9×+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 hlt:AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization.

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
Management and franchise(1)(2)$1,009$941$1,902$1,745
Ownership(1)(2)45576065
Segment Adjusted EBITDA1,0549981,9621,810
Corporate and other(3)10(7)(7)
Interest expense(183)(151)(345)(296)
Depreciation and amortization expenses(49)(43)(99)(84)
Gain (loss) on foreign currency transactions(7)(1)(12)1
FF&E replacement reserves(13)(19)(23)(32)

Item 1. Financial Statements

FAQ

What is Hilton Worldwide's management and franchise — segment adjusted EBITDA?
Hilton Worldwide (HLT) reported management and franchise — segment adjusted EBITDA of $1.01B in Q2 2026.
How has Hilton Worldwide's management and franchise — segment adjusted EBITDA changed year-over-year?
Hilton Worldwide's management and franchise — segment adjusted EBITDA increased by 7.2% year-over-year, from $941M to $1.01B.
What is the long-term trend for Hilton Worldwide's management and franchise — segment adjusted EBITDA?
Over 3 years (2022 to 2025), Hilton Worldwide's management and franchise — segment adjusted EBITDA has grown at a 10.9% compound annual growth rate (CAGR), from $2.62B to $3.58B.
What does management and franchise — segment adjusted EBITDA mean?
This metric measures the profitability of the management and franchise business segment by excluding non-operating items, depreciation, and amortization from segment earnings. It highlights the high-margin nature of the company's fee-based operations and the efficiency of its centralized support systems. Investors use this to assess the core operating performance and cash-generating capability of the brand licensing and management business.

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