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Stock Analysis on Net

Hilton Worldwide Holdings Inc. (NYSE:HLT)

This company has been moved to the archive! The financial data has not been updated since August 7, 2024.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

Hilton Worldwide Holdings Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Accrued employee compensation and benefits 3.84 3.58 3.33 2.41 3.70
Accounts payable 2.97 2.37 1.77 1.34 2.03
Operating lease liabilities, current 0.75 0.72 0.91 1.01 0.89
Insurance reserves, current 0.64 0.55 0.54 0.41 0.64
Other current liabilities and accrued expenses 4.64 4.31 3.60 2.60 4.13
Accounts payable, accrued expenses and other 12.85% 11.54% 10.15% 7.77% 11.39%
Current maturities of long-term debt 0.25 0.25 0.35 0.33 0.25
Current portion of deferred revenues 3.26 2.79 2.27 2.21 2.22
Current portion of liability for guest loyalty program 7.80 7.16 6.78 4.20 5.34
Current liabilities 24.17% 21.74% 19.55% 14.51% 19.20%
Long-term debt, excluding current maturities 59.46 56.14 56.42 62.26 53.19
Operating lease liabilities, non-current 5.25 5.36 5.63 5.80 6.93
Deferred revenues 7.35 6.36 5.80 5.99 5.53
Deferred income tax liabilities 2.60 4.74 4.53 3.87 5.32
Liability for guest loyalty program 9.93 8.28 8.53 10.54 7.09
Other long-term tax liabilities 4.19 2.25 2.49 2.39 2.47
Insurance reserves 1.00 0.94 0.98 1.13 1.19
Deferred employee compensation and benefits 0.56 0.59 0.72 0.69 0.79
Pension obligations 0.22 0.26 0.16 0.85 0.90
Other 0.51 0.43 0.48 0.84 0.56
Other long-term liabilities 6.48% 4.46% 4.83% 5.90% 5.90%
Long-term liabilities 91.07% 85.34% 85.75% 94.36% 83.96%
Total liabilities 115.24% 107.08% 105.30% 108.87% 103.16%
Common stock, $0.01 par value 0.02 0.02 0.02 0.02 0.02
Treasury stock, at cost -54.50 -38.94 -28.77 -26.58 -27.87
Additional paid-in capital 71.22 69.82 69.43 62.98 70.13
Accumulated deficit -27.32 -33.46 -40.94 -40.18 -39.88
Accumulated other comprehensive loss -4.75 -4.55 -5.05 -5.13 -5.62
Total Hilton stockholders’ deficit -15.32% -7.10% -5.32% -8.89% -3.22%
Noncontrolling interests 0.08 0.03 0.01 0.02 0.07
Total deficit -15.24% -7.08% -5.30% -8.87% -3.16%
Total liabilities and equity (deficit) 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

The financial structure is characterized by a persistent and expanding stockholders' deficit, with total liabilities consistently exceeding 100% of the total liabilities and equity balance. Total liabilities rose from 103.16% in 2019 to 115.24% by the end of 2023, indicating a highly leveraged capital structure where total obligations exceed the total assets of the entity.

Liability Composition and Debt Trends
Long-term debt is the primary component of the balance sheet, fluctuating between 53.19% and 62.26% over the five-year period and ending at 59.46% in 2023. Long-term liabilities as a whole increased from 83.96% in 2019 to 91.07% in 2023. Other significant long-term obligations include deferred revenues and the liability for guest loyalty programs, the latter of which showed a notable increase to 9.93% in 2023 from 7.09% in 2019.
Current Liability Analysis
Current liabilities exhibited a general upward trajectory, moving from 19.20% in 2019 to 24.17% in 2023, despite a temporary decline to 14.51% in 2020. This growth is largely driven by increases in accounts payable, accrued expenses, and the current portion of the guest loyalty program liability, which rose from 5.34% to 7.80% over the period. Current maturities of long-term debt remained relatively stable and low, consistently staying at or below 0.35%.
Equity and Capital Management
The total stockholders' deficit widened significantly, moving from -3.22% in 2019 to -15.32% in 2023. The most prominent driver of this deficit is the treasury stock account, which expanded from -27.87% to -54.50%, suggesting an aggressive program of share repurchases. This is partially offset by an improvement in the accumulated deficit, which narrowed from -39.88% in 2019 to -27.32% in 2023, indicating a trend toward retained earnings growth despite the overall negative equity position.
Other Long-term Obligations
Deferred income tax liabilities saw a significant reduction by the end of the period, dropping to 2.60% in 2023 from 5.32% in 2019. Conversely, other long-term tax liabilities increased from 2.47% in 2019 to 4.19% in 2023. Pension obligations have diminished considerably, falling from 0.90% in 2019 to 0.22% in 2023.

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