Enterprise Value (EV)
Current Enterprise Value (EV)
Hilton Worldwide Holdings Inc., current enterprise value calculation
| Current share price (P) | $203.52 |
| No. shares of common stock outstanding | 246,427,097 |
| US$ in millions | |
| Common equity (market value)1 | 50,153) |
| Add: Noncontrolling interests (per books) | 13) |
| Total equity | 50,166) |
| Add: Current maturities of long-term debt (per books) | 39) |
| Add: Long-term debt, excluding current maturities (per books) | 9,157) |
| Total equity and debt | 59,362) |
| Less: Cash and cash equivalents | 800) |
| Less: Restricted cash and cash equivalents | 75) |
| Enterprise value (EV) | 58,487) |
Based on: 10-K (reporting date: 2023-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 203.52 × 246,427,097
Historical Enterprise Value (EV)
Hilton Worldwide Holdings Inc., EV calculation
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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Hilton Worldwide Holdings Inc. Annual Report.
3 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 196.03 × 252,160,518
The enterprise value (EV) of the organization exhibited a general upward trajectory between 2019 and 2023, characterized by a period of stagnation during 2020 followed by significant growth and a moderate correction in 2022.
- Market Value of Common Equity
- The market value of common equity remained relatively stable between 2019 and 2020, with a slight decrease from 31,335 million USD to 30,934 million USD. A substantial increase occurred in 2021, where the value rose to 43,641 million USD. Following a minor decline to 40,181 million USD in 2022, the market value reached its peak in 2023 at 49,431 million USD, representing a cumulative growth of approximately 57.7% over the five-year period.
- Capitalization and Debt Trends
- Total equity and debt showed a consistent increase from 39,338 million USD in 2019 to 58,640 million USD in 2023. Notably, in 2020, total equity and debt increased to 41,425 million USD despite a slight decline in common equity, suggesting an increase in debt obligations during that fiscal year. This trend of expansion continued through 2021, followed by a contraction in 2022 to 48,932 million USD, and a subsequent surge to the period high in 2023.
- Enterprise Value (EV) Analysis
- Enterprise value mirrored the volatility and growth patterns of the market value of equity. The EV declined marginally from 38,708 million USD in 2019 to 38,162 million USD in 2020. A sharp appreciation was observed in 2021, with EV climbing to 50,897 million USD. After a correction to 47,646 million USD in 2022, the EV accelerated to 57,765 million USD by the end of 2023. The close alignment between EV and total equity and debt indicates that the organization's total valuation is heavily driven by its combined equity and debt structure.
The data indicates a strong recovery and valuation expansion starting in 2021, with 2023 marking the highest valuation across all measured metrics. The correlation between common equity market value and enterprise value suggests that investor sentiment and market capitalization have been the primary drivers of the overall enterprise value growth.
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