Latest Ratios: P/E Ratio -357.7x · EV/EBITDA 25.3x · 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 | $18.4B | $15.3B | $16.1B | $14.0B | $10.1B | $10.0B | $7.5B | $9.5B | $7.8B | $9.3B | $7.4B |
| Enterprise Value | $22.5B | $19.3B | $19.1B | $16.5B | $12.5B | $13.4B | $10.0B | $10.7B | $8.8B | $10.2B | $8.5B |
| P/E Ratio → | -357.70 | — | 12.41 | 63.93 | 22.11 | — | — | 12.44 | 10.12 | 23.88 | 36.12 |
| P/S Ratio | 2.58 | 2.14 | 4.88 | 3.89 | 3.08 | 6.90 | 9.65 | 3.73 | 3.12 | 3.44 | 2.92 |
| P/B Ratio | 5.04 | 4.18 | 4.20 | 3.94 | 2.72 | 2.80 | 2.34 | 2.40 | 2.12 | 2.62 | 1.89 |
| P/FCF | 116.02 | 96.29 | 34.50 | 23.45 | 21.28 | 48.88 | — | 353.17 | 176.87 | 32.15 | 26.25 |
| P/OCF | 48.67 | 40.40 | 25.28 | 17.63 | 14.93 | 31.65 | — | 24.08 | 22.82 | 15.83 | 15.01 |
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 | — | 2.70 | 5.80 | 4.58 | 3.83 | 9.25 | 12.78 | 4.18 | 3.54 | 3.79 | 3.35 |
| EV / EBITDA | 25.35 | 21.81 | 16.11 | 13.66 | 9.70 | 31.47 | 129.43 | 11.70 | 8.75 | 10.49 | 8.96 |
| EV / EBIT | 40.04 | 48.92 | 45.98 | 49.96 | 29.33 | — | — | 54.27 | 26.65 | 39.38 | 31.65 |
| EV / FCF | — | 121.53 | 41.05 | 27.61 | 26.48 | 65.55 | — | 395.94 | 201.06 | 35.43 | 30.08 |
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 | 5.8% | 5.8% | 9.9% | 10.0% | 9.9% | 1.4% | -3.2% | 8.9% | 11.1% | 9.9% | 9.2% |
| ROCE | 4.7% | 4.7% | 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 | 1.31 | 1.31 | 1.06 | 0.94 | 0.93 | 1.22 | 1.14 | 0.52 | 0.44 | 0.41 | 0.40 |
| Debt / EBITDA | 5.42 | 5.42 | 3.42 | 2.78 | 2.67 | 10.26 | 47.40 | 2.24 | 1.62 | 1.49 | 1.65 |
| Net Debt / Equity | — | 1.10 | 0.80 | 0.70 | 0.66 | 0.95 | 0.76 | 0.29 | 0.29 | 0.27 | 0.28 |
| Net Debt / EBITDA | 4.53 | 4.53 | 2.57 | 2.06 | 1.90 | 8.00 | 31.73 | 1.26 | 1.05 | 0.97 | 1.14 |
| Debt / FCF | — | 25.23 | 6.54 | 4.16 | 5.20 | 16.68 | — | 42.78 | 24.18 | 3.28 | 3.84 |
| 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 | 58.02 | 58.02 | 0.83 | 0.60 | 0.68 | 0.92 | 2.60 | 1.57 | 1.27 | 1.37 | 1.23 |
| Quick Ratio | 58.02 | 58.02 | 0.83 | 0.59 | 0.68 | 0.92 | 2.60 | 1.56 | 1.25 | 1.36 | 1.20 |
| Cash Ratio | 19.85 | 19.85 | 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 | — | — | 236.75 | 246.33 | 219.00 | 96.40 | 76.89 | 129.75 | 106.71 | 121.07 | 57.64 |
| Days Sales Outstanding | — | 79.88 | 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 | — | — | 8.1% | 1.6% | 4.5% | — | — | 8.0% | 9.9% | 4.2% | 2.8% |
| FCF Yield | 0.9% | 1.0% | 2.9% | 4.3% | 4.7% | 2.0% | — | 0.3% | 0.6% | 3.1% | 3.8% |
| Buyback Yield | 1.7% | 2.1% | 7.4% | 3.2% | 3.7% | 0.0% | 0.9% | 4.4% | 12.2% | 8.0% | 3.7% |
| Total Shareholder Yield | 2.0% | 2.5% | 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 |
Margin Compression and Integration
According to current market data, Hyatt trades at a forward P/E of 55.60 and an EV/EBITDA of 25.84, suggesting that investors are pricing in significant future recovery despite the company's recent history of negative trailing earnings and inconsistent operational performance across its global hotel portfolio.
The elevated valuation multiples appear to reflect a scarcity premium for Hyatt's luxury-focused brand portfolio rather than immediate earnings power. Investors should monitor whether the company can justify these multiples through sustained margin expansion, as the current forward-looking pricing implies a high degree of confidence in the asset-light transition that has yet to fully materialize in the bottom line.
Based on reported figures, Hyatt’s ROIC has hovered between 1.1% and 2.9% over the last ten quarters, which indicates that the company is struggling to generate returns on invested capital that exceed its cost of capital, particularly following the capital-intensive acquisition of the Apple Leisure Group.
The persistent low ROIC suggests that the company's asset-heavy legacy and recent inorganic growth initiatives are currently diluting overall capital efficiency. This trend warrants further investigation into whether the ongoing asset-disposition strategy can effectively recycle capital into higher-yielding management contracts or if the current portfolio remains structurally burdened by lower-returning owned assets.
As reported in financial statements, Hyatt’s cash conversion cycle has exhibited significant instability, ranging from negative 1 day to 35 days, which suggests that the company faces ongoing challenges in managing its working capital efficiency amidst the integration of diverse, all-inclusive resort business models.
The volatility in the cash conversion cycle appears to reflect the operational complexity of managing both traditional hotel management and the more inventory-intensive all-inclusive segment. Investors should monitor whether these fluctuations are temporary integration pains or a sign of structural difficulty in aligning cash inflows with the company's broader service-oriented cost structure.
According to recent SEC filings, Hyatt’s interest coverage ratio has remained thin, dropping to 1.88 in 2026Q1, which indicates that the company's ability to service its debt obligations is becoming increasingly sensitive to fluctuations in operating income and the broader macroeconomic environment for travel.
The reliance on external financing to support growth, combined with a debt-to-equity ratio that has trended upward, suggests that the company's balance sheet flexibility may be narrowing. This leverage profile appears to leave little room for error should the cyclical nature of the lodging industry lead to a sustained downturn in RevPAR or occupancy rates.
Based on the provided data, the P/E ratio is the most commonly misapplied metric for Hyatt, as it fails to account for the significant non-cash charges and one-time gains associated with the company's ongoing asset-disposition strategy and the complex accounting of the Apple Leisure Group acquisition.
Using P/E to evaluate Hyatt obscures the underlying cash-generating capability of the management and franchising segments, which are the core drivers of long-term value. Analysts should instead prioritize EV/EBITDA or adjusted free cash flow metrics to better capture the operational reality of the business, as these measures strip away the noise created by property sales and accounting-driven earnings volatility.
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 -357.7x. The historical average is 42.3x.
Hyatt Hotels Corporation's current EV/EBITDA is 25.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.2x.
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 -357.7x. Compare with industry peers and growth rates for a complete picture.
Hyatt Hotels Corporation's current dividend yield is 0.31%.
Hyatt Hotels Corporation has 11.2% gross margin and 7.8% operating margin.
Hyatt Hotels Corporation's Debt/EBITDA ratio is 5.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.