Filing Flows

Filing Flows › Companies › Hilton Worldwide Holdings › Cash flow

Hilton Worldwide Holdings cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$689M in Q3 2026 · $1.9B over twelve months

Operating cash flow$721M
Capital spending−$32.0M
Free cash flow+$689M
Cash / net income1.3×

Analysis

In Q3 2026, Hilton Worldwide Holdings generated $721M of operating cash flow and spent $32.0M on capital projects, leaving free cash flow of $689M. That is $98.0M less than in Q3 2025 ($787M).

Over the twelve months to Sep 30, 2026, operating cash flow was $2.0B; the largest uses were buybacks ($3.4B), dividends ($138M), other investing ($126M); besides operations, cash came from net borrowing (+) / repaid (−) ($1.5B), shares issued ($84.0M); the cash balance fell by $296M.

Operating cash flow was $721M against net income of $536M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$59.0M, depreciation & amortization +$52.0M, deferred revenue +$17.0M.

Free cash flow

Hilton Worldwide Holdings: free cash flow by quarterHilton Worldwide Holdings: free cash flow by quarter$534MQ4 2024$433MQ1 2025$635MQ2 2025$787MQ3 2025$173MQ4 2025$609MQ1 2026$460MQ2 2026$689MQ3 2026
Operating cash flow less capital spending.
Hilton Worldwide Holdings: operating cash flow against capital spendingHilton Worldwide Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$582M$48.0MQ4 2024$452M$19.0MQ1 2025$658M$23.0MQ2 2025$816M$29.0MQ3 2025$203M$30.0MQ4 2025$618M$9.0MQ1 2026$472M$12.0MQ2 2026$721M$32.0MQ3 2026
Latest (Q3 2026): Operating cash flow $721M, Capital spending $32.0M.

Capital allocation, year by year

Hilton Worldwide Holdings: where the cash came from (up) and went (down), by fiscal yearHilton Worldwide Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $109MFY2021: Net borrowing −$1.8BFY2021: Shares issued $52.0MFY2021: Asset sales $6.0MFY2021: Capital spending −$35.0M$167MFY2021FY2022: Operating cash flow $1.7BFY2022: Net borrowing −$25.0MFY2022: Shares issued $29.0MFY2022: Capital spending −$39.0MFY2022: Buybacks −$1.6BFY2022: Dividends −$123M$1.7BFY2022FY2023: Operating cash flow $1.9BFY2023: Net borrowing $386MFY2023: Shares issued $51.0MFY2023: Asset sales $5.0MFY2023: Capital spending −$151MFY2023: Buybacks −$2.3BFY2023: Dividends −$158M$2.4BFY2023FY2024: Operating cash flow $2.0BFY2024: Net borrowing $1.9BFY2024: Shares issued $93.0MFY2024: Asset sales $8.0MFY2024: Capital spending −$96.0MFY2024: Acquisitions −$236MFY2024: Buybacks −$2.9BFY2024: Dividends −$150M$4.0BFY2024FY2025: Operating cash flow $2.1BFY2025: Net borrowing $918MFY2025: Shares issued $76.0MFY2025: Capital spending −$101MFY2025: Acquisitions −$4.0MFY2025: Buybacks −$3.2BFY2025: Dividends −$143M$3.1BFY2025
Over these 5 years operating cash flow totalled $7.9B; the largest uses were buybacks ($10.0B) and net borrowing ($1.8B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$774M
Debt$13.4B
Net debt$12.6B
Due within a year$25.0M

Hilton Worldwide Holdings funds itself: free cash flow was $1.9B over the last twelve months, and $774M of cash and investments stands against $13.4B of debt ($25.0M due within a year, 31.0× covered by cash).

Hilton Worldwide Holdings: debt maturities by year (FY2025)Hilton Worldwide Holdings: debt maturities by year (FY2025)$25.0MYear 1$619MYear 2$12.0MYear 3$1.4BYear 4$4.1BYear 5$6.3BAfter year 5
Principal due in each year as disclosed in the annual report, against $774M of cash and investments now.

Where the cash came from and went

Hilton Worldwide Holdings: sources (+) and uses (−) of cash, Q3 2026Hilton Worldwide Holdings: sources (+) and uses (−) of cash, Q3 2026Buybacks−$846MOperating cash flow$721MCash drawn (+) / kept (−)$234MOther investing−$37.0MDividends−$34.0MCapital spending−$32.0MNet borrowing (+) / repaid (−)−$8.0MShares issued$4.0MTaxes on employees’ shares−$1.0MExchange rates−$1.0M
Hilton Worldwide Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Hilton Worldwide Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Buybacks−$3.4BOperating cash flow$2.0BNet borrowing (+) / repaid (−)$1.5BCash drawn (+) / kept (−)$296MDividends−$138MOther investing−$126MShares issued$84.0MCapital spending−$83.0MTaxes on employees’ shares−$73.0MOther financing−$21.0MExchange rates−$9.0M

From profit to cash

Hilton Worldwide Holdings: net income to operating cash flow, Q3 2026Hilton Worldwide Holdings: net income to operating cash flow, Q3 2026Net income$536MDepreciation & amortization$52.0MStock-based pay$59.0MDeferred taxes−$2.0MDeferred revenue$17.0MOperating cash flow$721M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$721M−$32.0M—−$846M−$34.0M−$8.0M$4.0M$234M$689M
Q2 2026$472M−$12.0M—−$966M−$34.0M−$572M$40.0M−$445M$460M
Q1 2026$618M−$9.0M—−$821M−$35.0M−$8.0M$11.0M$351M$609M
Q4 2025$203M−$30.0M−$2.0M−$779M−$35.0M$491M$29.0M$156M$173M
Q3 2025$816M−$29.0M—−$759M−$35.0M$699M$7.0M−$678M$787M
Q2 2025$658M−$23.0M—−$769M−$36.0M−$221M$31.0M$359M$635M
Q1 2025$452M−$19.0M—−$875M−$37.0M—$9.0M$569M$433M
Q4 2024$582M−$48.0M—−$766M−$37.0M−$15.0M$36.0M$279M$534M

Hilton Worldwide Holdings: income statement and cash flow

Hilton Worldwide Holdings, Q3 2026: revenue $3.3B (+7% year over year), operating margin 27.3%. The chart follows the revenue to costs, profit and cash.

Hilton Worldwide Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.