Total Asset Turnover
since 2013
Calculation
Hilton Worldwide Holdings Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 0.66 | = | 10,235) | ÷ | 15,401) |
| Dec 31, 2022 | 0.57 | = | 8,773) | ÷ | 15,512) |
| Dec 31, 2021 | 0.37 | = | 5,788) | ÷ | 15,441) |
| Dec 31, 2020 | 0.26 | = | 4,307) | ÷ | 16,755) |
| Dec 31, 2019 | 0.63 | = | 9,452) | ÷ | 14,957) |
| Dec 31, 2018 | 0.64 | = | 8,906) | ÷ | 13,995) |
| Dec 31, 2017 | 0.64 | = | 9,140) | ÷ | 14,308) |
| Dec 31, 2016 | 0.44 | = | 11,663) | ÷ | 26,211) |
| Dec 31, 2015 | 0.44 | = | 11,272) | ÷ | 25,716) |
| Dec 31, 2014 | 0.40 | = | 10,502) | ÷ | 26,125) |
| Dec 31, 2013 | 0.37 | = | 9,735) | ÷ | 26,562) |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).
1 US$ in millions
Total asset turnover exhibited significant volatility between 2013 and 2023, characterized by an initial period of steady growth, a structural shift in the asset base, a severe pandemic-induced contraction, and a subsequent strong recovery to peak efficiency levels.
- Initial Growth Phase (2013–2016)
- A gradual improvement in asset utilization is observed, with the total asset turnover ratio increasing from 0.37 in 2013 to 0.44 in 2016. This trend was driven by consistent revenue growth from 9.7 billion to 11.6 billion while the total asset base remained relatively stable at approximately 26 billion.
- Structural Asset Adjustment (2017–2019)
- A significant increase in the turnover ratio to 0.64 occurred in 2017. This shift was not driven by revenue growth—which actually experienced a slight decline—but by a substantial reduction in total assets, which fell from 26.2 billion in 2016 to 14.3 billion in 2017. This indicates a transition toward a more asset-light business model, allowing the entity to generate similar revenue levels with significantly fewer assets.
- Pandemic Contraction (2020)
- The asset turnover ratio plummeted to a period low of 0.26 in 2020. This decline was the result of a sharp drop in revenues, which fell to 4.3 billion, coinciding with an increase in total assets to 16.7 billion, representing a severe temporary impairment of asset productivity.
- Recovery and Peak Efficiency (2021–2023)
- A consistent upward trajectory in turnover is observed following the 2020 low, reaching 0.66 by December 31, 2023. This recovery was fueled by a robust rebound in revenues, which climbed back to 10.2 billion, while total assets remained stabilized around 15.4 billion. The 2023 turnover ratio represents the highest level of asset efficiency recorded in the provided period.
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Comparison to Competitors
Hilton Worldwide Holdings Inc., total asset turnover, long-term trends, comparison to competitors
| Hilton Worldwide Holdings Inc. | Airbnb Inc. | Booking Holdings Inc. | Chipotle Mexican Grill Inc. | DoorDash, Inc. | McDonald’s Corp. | Starbucks Corp. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 0.66 | 0.48 | 0.88 | 1.23 | 0.80 | 0.45 | 1.22 |
| Dec 31, 2022 | 0.57 | 0.52 | 0.67 | 1.25 | 0.67 | 0.46 | 1.15 |
| Dec 31, 2021 | 0.37 | 0.44 | 0.46 | 1.13 | 0.72 | 0.43 | 0.93 |
| Dec 31, 2020 | 0.26 | 0.32 | 0.31 | 1.00 | 0.45 | 0.36 | 0.80 |
| Dec 31, 2019 | 0.63 | — | 0.70 | 1.09 | — | 0.44 | 1.38 |
| Dec 31, 2018 | 0.64 | — | 0.64 | 2.15 | — | 0.64 | 1.02 |
| Dec 31, 2017 | 0.64 | — | 0.50 | 2.19 | — | 0.68 | 1.56 |
| Dec 31, 2016 | 0.44 | — | 0.54 | 1.93 | — | 0.79 | 1.49 |
| Dec 31, 2015 | 0.44 | — | 0.53 | 1.65 | — | 0.67 | 1.54 |
| Dec 31, 2014 | 0.40 | — | 0.57 | 1.61 | — | 0.80 | 1.53 |
| Dec 31, 2013 | 0.37 | — | 0.65 | 1.60 | — | 0.77 | 1.29 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).
Comparison to Sector (Consumer Services)
Hilton Worldwide Holdings Inc., total asset turnover, long-term trends, comparison to sector (consumer services)
| Hilton Worldwide Holdings Inc. | Consumer Services | |
|---|---|---|
| Dec 31, 2023 | 0.66 | 0.74 |
| Dec 31, 2022 | 0.57 | 0.70 |
| Dec 31, 2021 | 0.37 | 0.60 |
| Dec 31, 2020 | 0.26 | 0.49 |
| Dec 31, 2019 | 0.63 | 0.73 |
| Dec 31, 2018 | 0.64 | 0.80 |
| Dec 31, 2017 | 0.64 | 0.82 |
| Dec 31, 2016 | 0.44 | 0.90 |
| Dec 31, 2015 | 0.44 | 0.83 |
| Dec 31, 2014 | 0.40 | 0.90 |
| Dec 31, 2013 | 0.37 | 0.87 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).
Comparison to Industry (Consumer Discretionary)
Hilton Worldwide Holdings Inc., total asset turnover, long-term trends, comparison to industry (consumer discretionary)
| Hilton Worldwide Holdings Inc. | Consumer Discretionary | |
|---|---|---|
| Dec 31, 2023 | 0.66 | 0.97 |
| Dec 31, 2022 | 0.57 | 0.96 |
| Dec 31, 2021 | 0.37 | 0.88 |
| Dec 31, 2020 | 0.26 | 0.84 |
| Dec 31, 2019 | 0.63 | 0.94 |
| Dec 31, 2018 | 0.64 | 0.96 |
| Dec 31, 2017 | 0.64 | 0.93 |
| Dec 31, 2016 | 0.44 | 0.96 |
| Dec 31, 2015 | 0.44 | 0.98 |
| Dec 31, 2014 | 0.40 | 1.02 |
| Dec 31, 2013 | 0.37 | 1.04 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).