Latest Ratios: P/E Ratio 8.3x · EV/EBITDA 8.0x · ROE 4.9%. (2014–2025 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 | $3.5B | $4.1B | $4.0B | $4.5B | $4.6B | $5.3B | $2.7B | $3.1B | $2.6B | $4.2B | — |
| Enterprise Value | $10.2B | $10.9B | $10.7B | $8.5B | $8.2B | $9.2B | $4.1B | $4.7B | $3.8B | $5.0B | — |
| P/E Ratio → | 8.28 | 50.28 | 84.67 | 14.35 | 13.15 | 29.95 | — | 14.21 | 8.68 | 12.79 | — |
| P/S Ratio | 0.56 | 0.81 | 0.81 | 1.13 | 1.21 | 2.26 | 2.99 | 1.67 | 1.29 | 2.45 | — |
| P/B Ratio | 2.79 | 2.84 | 2.12 | 2.12 | 2.15 | 2.65 | 7.14 | 5.39 | 4.20 | 8.10 | — |
| P/FCF | 7.16 | 17.80 | 21.94 | 18.92 | 7.12 | 35.12 | 55.63 | 37.45 | — | 13.58 | — |
| P/OCF | 11.50 | 13.65 | 13.00 | 14.37 | 6.19 | 31.36 | 33.80 | 21.18 | — | 11.78 | — |
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 | — | 2.15 | 2.15 | 2.13 | 2.15 | 3.92 | 4.63 | 2.53 | 1.92 | 2.93 | — |
| EV / EBITDA | 7.99 | 13.04 | 11.10 | 9.46 | 8.78 | 14.69 | — | 12.72 | 8.17 | 13.70 | — |
| EV / EBIT | 18.23 | 22.37 | 23.03 | 13.54 | 13.24 | 24.50 | — | 14.73 | 8.87 | 14.83 | — |
| EV / FCF | — | 47.28 | 58.51 | 35.81 | 12.69 | 61.09 | 86.18 | 56.76 | — | 16.23 | — |
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 | 56.7% | 56.7% | 56.9% | 30.9% | 33.2% | 36.6% | 17.0% | 28.7% | 34.3% | 32.6% | 32.8% |
| Operating Margin | 11.1% | 11.1% | 14.0% | 17.2% | 18.1% | 21.3% | — | 17.1% | 21.7% | 19.7% | 20.4% |
| Net Profit Margin | 1.6% | 1.6% | 0.9% | 7.9% | 9.2% | 7.5% | -22.5% | 11.8% | 14.9% | 19.1% | 10.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.9% | 4.9% | 2.3% | 14.7% | 17.0% | 14.9% | -42.6% | 36.4% | 52.6% | 95.5% | 550.8% |
| ROA | 0.7% | 0.7% | 0.5% | 3.8% | 4.4% | 3.2% | -6.5% | 7.4% | 11.6% | 14.3% | 8.6% |
| ROIC | 5.0% | 5.0% | 7.1% | 8.6% | 8.9% | 9.7% | — | 11.7% | 20.3% | 19.1% | 20.8% |
| ROCE | 5.5% | 5.5% | 7.9% | 9.5% | 9.9% | 10.3% | — | 12.9% | 21.4% | 18.9% | 20.8% |
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 | 5.10 | 5.10 | 3.70 | 2.17 | 1.79 | 2.18 | 5.33 | 2.90 | 2.21 | 2.06 | 7.09 |
| Debt / EBITDA | 8.81 | 8.81 | 7.27 | 5.12 | 4.10 | 6.94 | — | 4.51 | 2.90 | 2.91 | 3.41 |
| Net Debt / Equity | — | 4.71 | 3.53 | 1.89 | 1.68 | 1.96 | 3.92 | 2.78 | 2.04 | 1.58 | 6.80 |
| Net Debt / EBITDA | 8.13 | 8.13 | 6.93 | 4.46 | 3.86 | 6.24 | — | 4.33 | 2.67 | 2.24 | 3.27 |
| Debt / FCF | — | 29.47 | 36.56 | 16.89 | 5.58 | 25.97 | 30.54 | 19.32 | — | 2.65 | 9.16 |
| Interest Coverage | 1.56 | 1.56 | 1.41 | 3.52 | 4.39 | 3.56 | -5.51 | 7.35 | 14.43 | 12.52 | 11.10 |
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 | 5.20 | 5.20 | 4.87 | 4.39 | 3.60 | 4.81 | 3.89 | 4.83 | 3.81 | 3.60 | 4.12 |
| Quick Ratio | 3.17 | 3.17 | 3.18 | 3.17 | 2.59 | 3.38 | 2.72 | 3.52 | 2.79 | 2.68 | 2.95 |
| Cash Ratio | 0.46 | 0.46 | 0.25 | 0.52 | 0.19 | 0.50 | 0.88 | 0.16 | 0.21 | 0.45 | 0.11 |
| Asset Turnover | — | 0.44 | 0.44 | 0.46 | 0.48 | 0.29 | 0.29 | 0.60 | 0.73 | 0.72 | 0.73 |
| Inventory Turnover | 0.87 | 0.87 | 0.96 | 1.96 | 2.21 | 1.19 | 1.06 | 2.35 | 2.49 | 2.27 | 2.07 |
| Days Sales Outstanding | — | 244.80 | 245.48 | 240.40 | 218.43 | 322.79 | 446.25 | 264.12 | 232.44 | 252.36 | 264.70 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 12.1% | 2.0% | 1.2% | 7.0% | 7.6% | 3.3% | — | 7.0% | 11.5% | 7.8% | — |
| FCF Yield | 14.0% | 5.6% | 4.6% | 5.3% | 14.1% | 2.8% | 1.8% | 2.7% | — | 7.4% | — |
| Buyback Yield | 17.4% | 14.7% | 10.8% | 8.2% | 5.9% | 0.1% | 0.4% | 9.2% | 7.1% | 0.0% | — |
| Total Shareholder Yield | 17.4% | 14.7% | 10.8% | 8.2% | 5.9% | 0.1% | 0.4% | 9.2% | 7.1% | 0.0% | — |
| Shares Outstanding | — | $92M | $103M | $112M | $120M | $101M | $85M | $89M | $98M | $100M | $99M |
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying HGV stock.
Hilton Grand Vacations Inc.'s current P/E ratio is 8.3x. The historical average is 28.5x.
Hilton Grand Vacations Inc.'s current EV/EBITDA is 8.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.5x.
Hilton Grand Vacations Inc.'s return on equity (ROE) is 4.9%. The historical average is 21.7%.
Based on historical data, Hilton Grand Vacations Inc. is trading at a P/E of 8.3x. Compare with industry peers and growth rates for a complete picture.
Hilton Grand Vacations Inc. has 56.7% gross margin and 11.1% operating margin. Operating margin between 10-20% is typical for established companies.
Hilton Grand Vacations Inc.'s Debt/EBITDA ratio is 8.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Leverage and earnings quality volatility
Metrics are mathematically derived from official filings.
Trailing Multiples Overstate Earnings Scarcity
According to reported figures, HGV trades at 49.38 trailing P/E but 7.27 forward P/E, a gap that suggests the market is looking through depressed trailing earnings toward a sharp recovery in profitability.
The collapse from a trailing to forward multiple implies analysts expect net income to rebound substantially, yet the Q2 2026 EPS print of $0.15 against a $1.37 estimate indicates that consensus forecasts have proven unreliable recently. EV/EBITDA of 12.27 trailing and 8.29 forward sits above VAC's 12.54 only modestly and aligns with TNL's 11.02, suggesting HGV is priced in line with peers on an enterprise basis despite its leverage. Investors should monitor whether forward EBITDA estimates hold, since the valuation case rests on earnings conversion rather than current cash generation.
Debt Load Constrains Equity Upside
Based on reported quarterly figures, HGV's debt-to-equity ratio rose from 3.23 in Q2 2024 to 5.37 in Q3 2026, with debt-to-EBITDA at 14.02, a combination that limits financial flexibility.
Rising leverage alongside contracting equity suggests the capital structure is becoming more fragile rather than deleveraging, and the 6.31 interest coverage ratio in Q3 2026 appears comfortable only because the most recent quarter was unusually strong. The quarter-to-quarter swing in interest coverage from 1.33 in Q2 2026 to 6.31 in Q3 2026 indicates coverage depends heavily on lumpy operating income. Debt service may become more burdensome if revenue reverts toward the sub-2x coverage levels seen in several prior quarters, warranting further investigation of refinancing terms.
Return Metrics Prove Highly Unstable
Based on reported figures, HGV's ROIC ranged between 0.8% and 1.8% across the ten quarters, with only the most recent ROE of 21.3% standing out against a low-return baseline.
The persistently low ROIC suggests the company has not been compounding invested capital efficiently, and the Q3 2026 ROE spike to 21.3% appears driven by a shrinking equity base and one strong quarter rather than a durable change in economics. Because ROE is inflated by 5.37 leverage, a return of this magnitude may not reflect the underlying return on the asset base, which remains closer to 1% to 2%. Investors should focus on ROIC rather than ROE to assess whether returns are genuinely improving.
Current Ratio Masks Thin Cash Buffer
As reported in financial statements, HGV's current ratio of 4.30 in Q3 2026 and quick ratio of 2.80 look comfortable, yet cash of roughly $227.0M against $7.9B of total debt leaves a modest liquid cushion.
Headline liquidity ratios appear strong largely because a substantial portion of current assets consists of inventory and receivables tied to vacation ownership sales, which may not convert to cash quickly under stress. The quick ratio dropping to 0.42 in Q2 2026 suggests liquidity can deteriorate sharply within a single quarter. Under severe stress, dependence on working capital inflows could leave the company vulnerable despite the favorable headline ratios.
Working Capital Days Obscure Real Efficiency
Based on reported figures, HGV's cash conversion cycle ranged from 112 to 1155 days across recent quarters, making the metric poorly suited to judge operating efficiency in a business with lumpy inventory and financing cycles.
The conventional cash conversion cycle is misapplied here because DIO and DSO are distorted by the timing of vacation ownership inventory and consumer note receivables rather than conventional trade working capital. The swing from a 2025 Q4 DIO of 1579 days to a 2024 Q3 value of negative 280 days shows how inventory accounting dominates the metric. Asset turnover of 0.16 in Q3 2026 may be more informative, though it too should be read alongside the financing book rather than treated as a standalone efficiency signal.