Short answer
Hilton Worldwide (HLT) filed its fiscal 2025 10-K annual report with the SEC on Feb 11, 2026. It reported revenue of $12.0B (+7.7% year over year) and net income of $1.5B.
- Top risk flagged: Regulatory risk due to potential governmental regulation on healthcare coverage costs for employees impacting expenses
FY2025 key financial metrics · XBRL
- Revenue
- $12.0B
- +7.7% YoY
- Net income
- $1.5B
- −5.1% YoY
- Operating margin
- 22.4%
- +1.2 pp YoY
- EPS (diluted)
- $6.12
- −0.3% YoY
- ROE
- -27.0%
- +14.1 pp YoY
- Operating cash flow
- $2.1B
- +5.8% YoY
Source: XBRL data from the Hilton Worldwide (HLT) FY2025 10-K on SEC EDGAR. USD.
Hilton Worldwide FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Global hospitality company operating 9,158 properties with 1.35M rooms across 143 countries, focusing on management, franchising, ownership, and timeshare segments
- New emphasis on global development pipeline: 3,703 hotels with 520,500 rooms planned, including entry into 26 new countries, nearly half rooms under construction
- Strategic shift towards sustainable operations with Travel with Purpose program and proprietary LightStay system to track environmental and community impact
- Employee base steady at approx. 182,000 managed/leased hotel and corporate staff; Hilton Honors membership surged 15% to 243 million members in 2025
- Unique achievement: 2025 ranked #1 World's Best Workplace by Fortune and Great Place to Work for ninth consecutive year, recognized in 67 countries
Management Discussion & Analysis
- Revenue growth mainly from management and franchise fees; system-wide hotels 9,158 with 1,351,351 rooms as of Dec 31, 2025; Hilton Honors members up 15% YoY
- Management and franchise segment focus, majority of pipeline expected in fee-based business with 3,703 hotels (520,500 rooms) in development pipeline
- System-wide net room additions 81,100 in 2025; 6.7% net unit growth YoY
- Ownership segment driven by room sales, F&B and other services; costs include fixed operating expenses affecting profitability in economic downturns
- No explicit profitability or margin % disclosed; strategic focus on expanding fee-based revenue streams with limited capital investment
- Management notes inflation, interest rates pose development risks including opening delays; growth dependent on third-party capital and developer relationships
Risk Factors
- Regulatory risk due to potential governmental regulation on healthcare coverage costs for employees impacting expenses
- Geopolitical risk from wars, political instability, or terrorist threats possibly foreclosing travel to key markets and reducing demand
- Operational vulnerability from reliance on third-party hotel owners’ investments to maintain brand standards and property quality
- Competitive disruption risk from home and apartment sharing services expanding market share against Hilton’s traditional hotel offerings
- Financial risk tied to third-party hotel owners’ inability to refinance debt in current interest rate environment, risking contract terminations
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