Filing Flows › Hilton Worldwide Holdings (HLT) › Q3 2026 › vs Q3 2025
Hilton Worldwide Holdings (HLT) Q3 2026 vs Q3 2025 (year over year)
Hilton Worldwide Holdings's revenue rose $205M (+7%) from $3.1B in Q3 2025 to $3.3B in Q3 2026. The biggest changes: Reimbursement Revenue +$130M (+7%); Total revenues excluding reimbursable revenues +$75.0M (+6%). Operating margin 27.3% against 24.9% (+2.4 pts).
Hilton Worldwide Holdings, Q3 2026: revenue $3.3B (+7% year over year), operating margin 27.3%, net earnings $536M, operating cash flow $721M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 27.3% | 24.9% | +2.4 pts |
| Net margin | 16.1% | 13.5% | +2.6 pts |
| Free cash flow margin | 20.7% | 25.2% | -4.5 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Franchise and licensing fees | $815M | $739M | $76.0M | +10% |
| Ownership | $304M | $322M | −$18.0M | -6% |
| Base and other management fees | $96.0M | $93.0M | $3.0M | +3% |
| Other revenues | $72.0M | $64.0M | $8.0M | +12% |
| Incentive management fees | $71.0M | $65.0M | $6.0M | +9% |
| Total revenues excluding reimbursable revenues | $1.4B | $1.3B | $75.0M | +6% |
| Reimbursement Revenue | $2.0B | $1.8B | $130M | +7% |
| Revenue | $3.3B | $3.1B | $205M | +7% |
| Operating profit | $909M | $777M | $132M | +17% |
| Costs & expenses | $2.4B | $2.3B | $73.0M | +3% |
| Pre-tax earnings | $722M | $604M | $118M | +20% |
| Other expense, net | $187M | $173M | $14.0M | +8% |
| General & admin | $110M | $95.0M | $15.0M | +16% |
| Other operating costs | $2.3B | $2.2B | $58.0M | +3% |
| Net earnings | $536M | $421M | $115M | +27% |
| Income tax | $186M | $183M | $3.0M | +2% |
| Depreciation & amortization | $52.0M | $46.0M | $6.0M | +13% |
| Share-based compensation | $59.0M | $44.0M | $15.0M | +34% |
| Working capital & other | $74.0M | $305M | −$231M | -76% |
| Operating cash flow | $721M | $816M | −$95.0M | -12% |
| Free cash flow (OCF − capex) | $689M | $787M | −$98.0M | -12% |
| Capital expenditures | $32.0M | $29.0M | $3.0M | +10% |
Questions
How much did Hilton Worldwide Holdings's revenue grow year over year in Q3 2026?
Hilton Worldwide Holdings's revenue rose $205M (+7%) from $3.1B in Q3 2025 to $3.3B in Q3 2026.
What drove Hilton Worldwide Holdings's revenue change in Q3 2026?
Reimbursement Revenue +$130M (+7%); Total revenues excluding reimbursable revenues +$75.0M (+6%).