Latest Ratios: P/E Ratio 57.7x · EV/EBITDA 13.1x · 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 | $4.2B | $4.1B | $4.0B | $4.5B | $4.6B | $5.3B | $2.7B | $3.1B | $2.6B | $4.2B | — |
| Enterprise Value | $11.0B | $10.9B | $10.7B | $8.5B | $8.2B | $9.2B | $4.1B | $4.7B | $3.8B | $5.0B | — |
| P/E Ratio → | 57.69 | 50.28 | 84.67 | 14.35 | 13.15 | 29.95 | — | 14.21 | 8.68 | 12.79 | — |
| P/S Ratio | 0.83 | 0.81 | 0.81 | 1.13 | 1.21 | 2.26 | 2.99 | 1.67 | 1.29 | 2.45 | — |
| P/B Ratio | 3.26 | 2.84 | 2.12 | 2.12 | 2.15 | 2.65 | 7.14 | 5.39 | 4.20 | 8.10 | — |
| P/FCF | 18.14 | 17.80 | 21.94 | 18.92 | 7.12 | 35.12 | 55.63 | 37.45 | — | 13.58 | — |
| P/OCF | 13.91 | 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 | 13.13 | 13.04 | 11.10 | 9.46 | 8.78 | 14.69 | — | 12.72 | 8.17 | 13.70 | — |
| EV / EBIT | 19.52 | 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 | 1.7% | 2.0% | 1.2% | 7.0% | 7.6% | 3.3% | — | 7.0% | 11.5% | 7.8% | — |
| FCF Yield | 5.5% | 5.6% | 4.6% | 5.3% | 14.1% | 2.8% | 1.8% | 2.7% | — | 7.4% | — |
| Buyback Yield | 14.4% | 14.7% | 10.8% | 8.2% | 5.9% | 0.1% | 0.4% | 9.2% | 7.1% | 0.0% | — |
| Total Shareholder Yield | 14.4% | 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 |
High debt-to-equity leverage
According to recent market data, HGV trades at a trailing P/E of 61.45, which appears significantly elevated compared to its forward P/E of 9.98, suggesting that investors are pricing in a sharp recovery in earnings that may be vulnerable to ongoing macroeconomic and integration-related headwinds.
The wide gap between trailing and forward multiples indicates that the market is discounting current earnings volatility as transitory, likely tied to the Diamond Resorts integration. However, given the company's high debt load, this valuation assumes a level of operational stability that may be overly optimistic if consumer discretionary spending continues to soften.
Based on quarterly financial reports, HGV's ROIC has remained suppressed, hovering between 0.8% and 2.3% over the last ten quarters, which suggests that the company is struggling to generate returns on invested capital that exceed its cost of debt in the current high-interest environment.
The persistent low ROIC reflects the capital-intensive nature of the timeshare business model, where significant investment is required for inventory development and financing. Investors should monitor whether the shift toward a fee-for-service model can eventually drive higher capital efficiency, as current returns appear insufficient to justify the company's aggressive debt-funded expansion strategy.
As reported in recent filings, HGV's cash conversion cycle has shown extreme volatility, peaking at 1,155 days in 2025Q4, which indicates significant inefficiencies in managing inventory and collecting on consumer financing receivables compared to historical norms and industry peers.
The extended DIO and DSO figures suggest that the company is carrying substantial inventory and facing longer collection periods, which ties up critical liquidity. This inefficiency appears to be a structural byproduct of the timeshare sales process, but the recent spikes warrant investigation into whether sales quality or credit standards are deteriorating.
Based on the latest quarterly data, HGV's debt-to-equity ratio has climbed to 5.48, a concerning increase from 2.17 in 2023Q4, which suggests that the company's reliance on debt to fund growth and share repurchases is significantly outpacing its ability to generate sustainable equity growth.
With interest coverage ratios falling as low as 0.84 in recent periods, the company's ability to service its debt appears increasingly sensitive to interest rate fluctuations. This leverage profile limits management's capacity to navigate cyclical downturns and suggests that future capital allocation may need to prioritize debt reduction over shareholder returns.
The P/E ratio is frequently misapplied to HGV's business model, as it fails to account for the non-cash nature of loan loss provisions and the significant impact of inventory accounting under ASC 606, which can artificially depress or inflate reported earnings in any given quarter.
Investors should instead focus on free cash flow and the recurring revenue generated from club management fees, which provide a more accurate picture of the company's underlying earning power. Relying on P/E multiples obscures the volatility inherent in the real estate sales segment and ignores the annuity-like stability of the management business.
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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 57.7x. The historical average is 28.5x. This places it at the 88th percentile of its historical range.
Hilton Grand Vacations Inc.'s current EV/EBITDA is 13.1x. 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 57.7x. This is at the 88th percentile of its historical P/E range. 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.