Latest Ratios: P/E Ratio 95.5x · EV/EBITDA 23.0x · ROE -1.4%. (2007–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $17.5B | $15.3B | $16.1B | $14.0B | $10.1B | $10.0B | $7.5B | $9.5B | $7.8B | $9.3B | $7.4B |
| Enterprise Value | $21.2B | $19.1B | $19.1B | $16.5B | $12.5B | $13.4B | $10.0B | $10.7B | $8.8B | $10.2B | $8.5B |
| P/E Ratio → | 95.48 | — | 12.41 | 63.93 | 22.11 | — | — | 12.44 | 10.12 | 23.88 | 36.12 |
| P/S Ratio | 2.45 | 2.14 | 4.88 | 3.89 | 3.08 | 6.90 | 9.65 | 3.73 | 3.12 | 3.44 | 2.92 |
| P/B Ratio | 4.81 | 4.18 | 4.20 | 3.94 | 2.72 | 2.80 | 2.34 | 2.40 | 2.12 | 2.62 | 1.89 |
| P/FCF | 53.93 | 96.29 | 34.73 | 23.34 | 21.28 | 48.88 | — | 353.17 | 176.87 | 32.15 | 29.49 |
| P/OCF | 46.11 | 40.40 | 25.40 | 17.56 | 14.93 | 31.65 | — | 24.08 | 22.82 | 15.83 | 16.02 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.67 | 5.80 | 4.58 | 3.83 | 9.25 | 12.78 | 4.18 | 3.54 | 3.79 | 3.35 |
| EV / EBITDA | 23.02 | 20.74 | 15.64 | 13.20 | 9.44 | 29.59 | 92.28 | 11.27 | 8.75 | 10.49 | 9.11 |
| EV / EBIT | 37.87 | 48.30 | 45.98 | 49.96 | 29.33 | — | — | 54.27 | 26.65 | 39.38 | 31.65 |
| EV / FCF | — | 120.00 | 41.31 | 27.47 | 26.48 | 65.55 | — | 395.94 | 201.06 | 35.43 | 33.80 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 11.2% | 11.2% | 42.5% | 38.6% | 39.7% | 33.3% | 11.3% | 39.2% | 40.2% | 37.2% | 36.3% |
| Operating Margin | 7.8% | 7.8% | 25.9% | 22.6% | 26.4% | 8.0% | -29.9% | 22.9% | 27.4% | 23.3% | 23.9% |
| Net Profit Margin | -0.7% | -0.7% | 39.3% | 6.1% | 13.9% | -15.4% | -90.1% | 29.9% | 30.8% | 9.2% | 8.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -1.4% | -1.4% | 35.1% | 6.1% | 12.5% | -6.5% | -19.6% | 20.0% | 21.3% | 6.7% | 5.2% |
| ROA | -0.4% | -0.4% | 9.9% | 1.7% | 3.7% | -2.0% | -8.0% | 9.5% | 10.0% | 3.2% | 2.7% |
| ROIC | 5.9% | 5.9% | 9.9% | 10.0% | 9.9% | 1.4% | -3.2% | 8.9% | 11.1% | 9.9% | 9.2% |
| ROCE | 5.3% | 5.3% | 8.8% | 8.9% | 8.9% | 1.2% | -3.0% | 8.4% | 10.3% | 9.3% | 9.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.25 | 1.25 | 1.06 | 0.94 | 0.93 | 1.22 | 1.14 | 0.52 | 0.44 | 0.41 | 0.40 |
| Debt / EBITDA | 4.95 | 4.95 | 3.32 | 2.69 | 2.60 | 9.65 | 33.80 | 2.16 | 1.62 | 1.49 | 1.68 |
| Net Debt / Equity | — | 1.03 | 0.80 | 0.70 | 0.66 | 0.95 | 0.76 | 0.29 | 0.29 | 0.27 | 0.28 |
| Net Debt / EBITDA | 4.10 | 4.10 | 2.49 | 1.99 | 1.85 | 7.53 | 22.62 | 1.22 | 1.05 | 0.97 | 1.16 |
| Debt / FCF | — | 23.70 | 6.59 | 4.13 | 5.20 | 16.68 | — | 42.78 | 24.18 | 3.28 | 4.31 |
| Interest Coverage | 1.26 | 1.26 | — | — | — | — | — | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.75 | 0.75 | 0.83 | 0.60 | 0.68 | 0.92 | 2.60 | 1.57 | 1.27 | 1.37 | 1.23 |
| Quick Ratio | 0.75 | 0.75 | 0.83 | 0.59 | 0.68 | 0.92 | 2.60 | 1.56 | 1.25 | 1.36 | 1.20 |
| Cash Ratio | 0.28 | 0.28 | 0.42 | 0.25 | 0.35 | 0.53 | 1.91 | 0.88 | 0.65 | 0.57 | 0.58 |
| Asset Turnover | — | 0.51 | 0.25 | 0.28 | 0.27 | 0.11 | 0.09 | 0.30 | 0.33 | 0.35 | 0.33 |
| Inventory Turnover | 793.75 | 793.75 | 236.75 | 246.33 | 219.00 | 96.40 | 76.89 | 129.75 | 106.71 | 121.07 | 57.64 |
| Days Sales Outstanding | — | 57.32 | 124.14 | 89.30 | 93.06 | 159.89 | 147.87 | 60.05 | 62.39 | 47.31 | 43.79 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.3% | 0.4% | 0.4% | 0.3% | — | — | 0.3% | 0.8% | 0.9% | — | — |
| Payout Ratio | — | — | 4.6% | 21.4% | — | — | — | 10.4% | 8.8% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.0% | — | 8.1% | 1.6% | 4.5% | — | — | 8.0% | 9.9% | 4.2% | 2.8% |
| FCF Yield | 1.9% | 1.0% | 2.9% | 4.3% | 4.7% | 2.0% | — | 0.3% | 0.6% | 3.1% | 3.4% |
| Buyback Yield | 1.7% | 1.9% | 7.4% | 3.2% | 3.7% | 0.0% | 0.9% | 4.4% | 12.2% | 8.0% | 3.7% |
| Total Shareholder Yield | 2.0% | 2.3% | 7.8% | 3.6% | 3.7% | 0.0% | 1.2% | 5.3% | 13.0% | 8.0% | 3.7% |
| Shares Outstanding | — | $96M | $102M | $108M | $111M | $104M | $101M | $106M | $115M | $126M | $134M |
Includes 30+ ratios · 19 years · Updated daily
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Quick answers to the most common questions about buying H stock.
Hyatt Hotels Corporation's current P/E ratio is 95.5x. The historical average is 42.3x. This places it at the 92th percentile of its historical range.
Hyatt Hotels Corporation's current EV/EBITDA is 23.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.5x.
Hyatt Hotels Corporation's return on equity (ROE) is -1.4%. The historical average is 5.8%.
Based on historical data, Hyatt Hotels Corporation is trading at a P/E of 95.5x. This is at the 92th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Hyatt Hotels Corporation's current dividend yield is 0.32%.
Hyatt Hotels Corporation has 11.2% gross margin and 7.8% operating margin.
Hyatt Hotels Corporation's Debt/EBITDA ratio is 5.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Thin margins and cash burn
Metrics are mathematically derived from official filings.
Scarcity Premium Priced on Forward Recovery
Based on the supplied figures, Hyatt trades at 24.19x EV/EBITDA and 50.34x forward P/E, with trailing P/E at -340.33 signalling negative reported earnings and a valuation anchored to recovery expectations rather than current profits.
The negative trailing P/E means the market is not valuing Hyatt on reported earnings, so the multiple depends on EBITDA and forward estimates. Compared with Marriott at 28.28x and Hilton at 34.65x EV/EBITDA, Hyatt's 24.19x looks discounted, which may reflect its higher asset intensity and weaker ROIC of roughly 1 to 2 percent versus peers near 25 percent. Investors should monitor whether the forward EBITDA recovery materialises, since a 109.58x P/FCF multiple leaves little margin for error on cash generation.
Gross Margin Diluted by Pass-Throughs
As reported in the quarterly ratio series, gross margin fell from roughly 43 percent in mid-2024 to 19.5 to 22.0 percent in 2026, while net margin has oscillated around zero, leaving bottom-line earning power difficult to establish.
The structural gross margin compression appears driven by reimbursed costs and all-inclusive package accounting rather than pricing deterioration alone, which makes gross margin a weak proxy for underlying economics. Operating margin of 6.9 to 11.6 percent in 2026 is the more informative measure, though it is still well below the 27 to 29 percent seen in 2024, which may indicate the ALG integration has diluted core profitability. Net margin swings between -7.4 and 61.8 percent are dominated by asset disposition gains and should be stripped out before assessing earning power.
ROIC Stuck Near Cost of Capital
Based on the supplied ratio data, ROIC has remained between 1.1 and 2.9 percent across the ten quarters, while ROE swung from 12.5 percent to negative readings, indicating returns on invested capital have not compounded.
A sustained ROIC in the low single digits suggests Hyatt is earning little above its likely cost of capital on the asset base built through the Apple Leisure Group acquisition, which warrants further investigation. The ROE spike in Q3 2024 reflects disposition gains rather than recurring returns, so the trend in ROIC is the more reliable signal. Peer ROIC of 9 to 25 percent for Marriott, Hilton and Wyndham highlights a material gap that appears structural rather than cyclical.
Interest Cover Recovering From Thin Levels
According to the reported quarterly figures, interest coverage ranged from 0.82x to 3.84x and debt-to-EBITDA moved between 11.9x and 30.7x, indicating debt service comfort has been volatile rather than steadily improving.
Debt-to-EBITDA well above 10x in most quarters is elevated for a hospitality operator and suggests limited headroom if EBITDA softens again. The recent improvement in coverage to 2.22x in Q3 2026 is encouraging but still thin, and the reported debt-to-equity of 1.33 conflicts with the leverage implied by EBITDA multiples, so investors should verify the debt figures. Refinancing and covenant exposure cannot be assessed fully from the supplied data.
Current Ratio Below One Throughout
Based on Hyatt's reported quarterly figures, the current ratio stayed between 0.60 and 0.98 across the period, with cash falling to roughly $454 million by Q3 2026, leaving little buffer against short-term obligations.
A current ratio below 1.0 is common in asset-light hotel models that carry large deferred revenue and loyalty liabilities, so the ratio alone overstates risk, but the thinning cash balance is a more concerning trend. Under a severe demand shock, the reliance on operating cash flow and working capital inflows would be tested, given the negative free cash flow margin of -9.0 percent in the latest quarter. Liquidity appears adequate only if asset disposals continue to supplement cash.
Asset-Light Ratios Are Misapplied
The most misapplied metric for Hyatt is gross margin, which the supplied peer data shows at about 20 percent versus Wyndham's 58.9 percent, a gap largely produced by reimbursed-cost accounting rather than economic inferiority.
Gross margin treats pass-through costs as operating cost and therefore penalises a fee-based manager relative to peers, obscuring the true fee economics. A more appropriate measure would be fee-based EBITDA or RevPAR-linked management fee income, adjusted for reimbursed costs. Using it instead would show whether the scarcity premium is supported by earnings quality or simply reflects accounting presentation.