Hilton Worldwide Holdings (HLT) FY2018 results: revenue $8.9 billion, up 9.5% on the year
Hilton Worldwide Holdings Inc. (HLT) reported revenue of $8.9 billion for fiscal 2018, the year ended 31 December 2018, up 9.5% on the year before. Net income was $764 million, down 29.5%, and diluted earnings per share $2.50. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$8.9 billion
+9.5% on the year
FY2012FY2018
Operating margin
16.1%
13.9% a year earlier
FY2012FY2018
Net income
$764 million
-29.5% on the year
FY2012FY2018
Diluted EPS
$2.50
-24.7% on the year
FY2012FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
8,906
8,131
6,576
+9.5%
Operating income
1,432
1,132
868
+26.5%
Operating margin
16.1%
13.9%
13.2%
Interest expense
371
351
334
+5.7%
Pre-tax income
1,078
753
540
+43.2%
Income tax
-309
336
-557
Effective tax rate
-28.7%
44.6%
-103.1%
Net income
764
1,084
338
-29.5%
Net margin
8.6%
13.3%
5.1%
Diluted EPS
$2.50
$3.32
$1.03
-24.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,255
849
1,310
+47.8%
Capital expenditure
72.0
58.0
317
+24.1%
Free cash flow
1,183
791
993
+49.6%
Free cash flow margin
13.3%
9.7%
15.1%
Cash from investing
-131
-147
-423
Cash from financing
-1,300
-1,724
-44.0
Depreciation and amortisation
325
336
353
-3.3%
Share-based compensation
127
121
91.0
+5.0%
Buybacks
1,721
891
0.0
+93.2%
Dividends paid
181
195
277
-7.2%
Dividend per share
$0.60
$0.60
$0.84
0.0%
Diluted shares, weighted
305m
327m
329m
-6.7%
Shares outstanding at period end
295m
317m
329m
-7.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
551
1,688
5,899
-67.4%
Non-controlling interest
7.0
3.0
-50.0
+133.3%
Debt
7,266
6,602
6,583
+10.1%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
6,171
5,935
13,779
+4.0%
Total liabilities and equity
13,995
14,228
26,211
-1.6%
Fixed assets
367
353
341
+4.0%
Goodwill
5,160
5,190
5,218
-0.6%
Intangible assets
872
1,342
1,410
-35.0%
Cash and equivalents
403
570
1,062
-29.3%
Receivables
1,150
1,005
755
+14.4%
Inventory
n/a
n/a
541
Other assets
6,043
5,768
16,884
+4.8%
Total assets
13,995
14,228
26,211
-1.6%
10-K for the year ended 31 December 2018, filed 13 February 2019: the filing.