Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Paying user area
Try for free
Hilton Worldwide Holdings Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2013
- Operating Profit Margin since 2013
- Price to Book Value (P/BV) since 2013
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Hilton Worldwide Holdings Inc. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Long-term Activity Ratios (Summary)
Hilton Worldwide Holdings Inc., long-term (investment) activity ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net fixed asset turnover | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset) | ||||||
| Total asset turnover | ||||||
| Equity turnover |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
- Net fixed asset turnover
- The net fixed asset turnover ratio exhibited significant fluctuations over the five-year period. It declined sharply from 24.87 in 2019 to 12.45 in 2020, indicating reduced efficiency in utilizing fixed assets during that year. Subsequently, it improved to 18.98 in 2021 and surged notably to 31.33 in 2022, suggesting enhanced asset utilization. However, in 2023, there was a slight decrease to 26.79, still maintaining a relatively high level compared to the beginning of the period.
- Net fixed asset turnover (including operating lease, right-of-use asset)
- This ratio, which adjusts for operating lease assets, demonstrated a parallel trend but at a consistently lower magnitude. The figure started at 7.58 in 2019, dropped to 3.85 in 2020, and then gradually recovered to 5.79 in 2021. The upward trajectory continued in 2022 and 2023, reaching 9.31 and 10.24 respectively. This indicates increased efficiency in the use of fixed assets including leased assets, with a steady recovery and growth post-2020.
- Total asset turnover
- Total asset turnover experienced a marked decline in 2020, falling from 0.63 in 2019 to 0.26, reflecting lower asset utilization possibly related to operational constraints during that year. The ratio then improved progressively to 0.37 in 2021, 0.57 in 2022, and reached 0.66 in 2023, surpassing the 2019 level. This upward trend suggests a recovery in overall asset efficiency and better revenue generation relative to total assets as conditions stabilized.
- Equity turnover
- Data for equity turnover were not provided across the period, limiting the ability to assess trends in this metric.
Net Fixed Asset Turnover
Hilton Worldwide Holdings Inc., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | ||||||
| Property and equipment, net | ||||||
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | ||||||
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Airbnb Inc. | ||||||
| Booking Holdings Inc. | ||||||
| Chipotle Mexican Grill Inc. | ||||||
| McDonald’s Corp. | ||||||
| Starbucks Corp. | ||||||
| Net Fixed Asset Turnover, Sector | ||||||
| Consumer Services | ||||||
| Net Fixed Asset Turnover, Industry | ||||||
| Consumer Discretionary | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Net fixed asset turnover = Revenues ÷ Property and equipment, net
= ÷ =
2 Click competitor name to see calculations.
- Revenues
- Revenues exhibited a significant decline from 2019 to 2020, dropping from 9,452 million US dollars to 4,307 million US dollars. This decline was followed by a gradual recovery over the next three years, with revenues increasing to 5,788 million in 2021, 8,773 million in 2022, and reaching 10,235 million in 2023. Overall, revenues surpassed the 2019 level by 2023, indicating a strong rebound and growth.
- Property and equipment, net
- The net value of property and equipment showed a declining trend from 380 million US dollars in 2019 to 280 million in 2022. In 2023, there was a noticeable increase to 382 million, slightly above the 2019 level. This pattern indicates some level of asset divestiture or depreciation over the initial years, followed by asset additions or revaluations in the latest period.
- Net fixed asset turnover
- The net fixed asset turnover ratio decreased sharply from 24.87 in 2019 to 12.45 in 2020, reflecting reduced efficiency in generating revenue from fixed assets during that period. The ratio improved in the subsequent years, rising to 18.98 in 2021 and peaking at 31.33 in 2022. In 2023, it slightly declined to 26.79 but remained higher than the 2019 level. This indicates an overall enhancement in asset utilization efficiency despite some recent moderation.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Hilton Worldwide Holdings Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | ||||||
| Property and equipment, net | ||||||
| Operating lease right-of-use assets | ||||||
| Property and equipment, net (including operating lease, right-of-use asset) | ||||||
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | ||||||
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Airbnb Inc. | ||||||
| Booking Holdings Inc. | ||||||
| Chipotle Mexican Grill Inc. | ||||||
| McDonald’s Corp. | ||||||
| Starbucks Corp. | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Consumer Services | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Consumer Discretionary | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property and equipment, net (including operating lease, right-of-use asset)
= ÷ =
2 Click competitor name to see calculations.
The financial data over the five-year period reveals significant fluctuations and recovery patterns in key performance indicators.
- Revenues
- Revenues experienced a sharp decline from US$9,452 million in 2019 to US$4,307 million in 2020, reflecting a considerable contraction of more than 50%. This decline was followed by a gradual recovery, with revenues increasing to US$5,788 million in 2021 and further rising to US$8,773 million in 2022. By 2023, revenues exceeded pre-decline levels, reaching US$10,235 million, indicating a strong rebound and growth beyond the initial value seen in 2019.
- Property and equipment, net (including operating lease, right-of-use asset)
- The net value of property and equipment showed a steady declining trend from US$1,247 million in 2019 down to US$942 million in 2022. A slight increase was observed in 2023, with the net value rising to US$1,000 million. The overall trend suggests persistent asset reductions or depreciation over the period, with a minor reversal occurring in the latest year.
- Net fixed asset turnover (including operating lease, right-of-use asset)
- This ratio exhibited considerable volatility. It decreased sharply from 7.58 in 2019 to 3.85 in 2020, mirroring the revenue decline and possibly reduced operational efficiency or asset utilization. Subsequently, the ratio improved significantly, reaching 5.79 in 2021, followed by further increases to 9.31 in 2022 and 10.24 in 2023. The rising turnover ratio in the later years reflects enhanced revenue generation relative to fixed assets and suggests improved efficiency in asset utilization compared to the earlier period.
Overall, the data indicates that after a significant downturn in 2020, there was a strong recovery in revenue and asset utilization efficiency. The decline in property and equipment values points to a reduction or rationalization of assets over the period, though recent signs of stabilization or modest growth are evident. The rising net fixed asset turnover ratio supports the view that asset efficiency has improved markedly post-2020.
Total Asset Turnover
Hilton Worldwide Holdings Inc., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | ||||||
| Total assets | ||||||
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | ||||||
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Airbnb Inc. | ||||||
| Booking Holdings Inc. | ||||||
| Chipotle Mexican Grill Inc. | ||||||
| McDonald’s Corp. | ||||||
| Starbucks Corp. | ||||||
| Total Asset Turnover, Sector | ||||||
| Consumer Services | ||||||
| Total Asset Turnover, Industry | ||||||
| Consumer Discretionary | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Total asset turnover = Revenues ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
The financial data reveals several notable trends over the five-year period under review.
- Revenues
- Revenues experienced a significant decline from 2019 to 2020, dropping from 9,452 million US dollars to 4,307 million US dollars, reflecting the impact of adverse market conditions during that time. Subsequently, revenues demonstrated a consistent recovery, increasing to 5,788 million in 2021, 8,773 million in 2022, and reaching 10,235 million in 2023, surpassing the pre-decline level of 2019.
- Total Assets
- Total assets increased from 14,957 million US dollars in 2019 to a peak of 16,755 million in 2020. This was followed by a gradual decline over the next three years, settling at 15,401 million by the end of 2023. The asset base thus showed some volatility, with an initial accumulation likely connected to strategic adjustments during the downturn, then a moderate reduction reflecting possible asset optimization or divestitures.
- Total Asset Turnover
- The total asset turnover ratio, which measures efficiency in using assets to generate revenue, deteriorated sharply from 0.63 in 2019 to 0.26 in 2020, in line with the revenue drop and increased assets in that year. Thereafter, the ratio improved steadily to 0.37 in 2021, 0.57 in 2022, and 0.66 in 2023, ultimately exceeding the 2019 level. This upward trend signifies enhanced operational efficiency and better utilization of assets to generate sales over time.
Overall, the period is characterized by an initial external shock causing a steep decline in revenues and a consequential drop in asset utilization efficiency. However, the subsequent recovery phase is marked by growth in revenues and a progressive improvement in asset turnover, reflecting successful management responses and operational recovery efforts.
Equity Turnover
Hilton Worldwide Holdings Inc., equity turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | ||||||
| Total Hilton stockholders’ deficit | ||||||
| Long-term Activity Ratio | ||||||
| Equity turnover1 | ||||||
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Airbnb Inc. | ||||||
| Booking Holdings Inc. | ||||||
| Chipotle Mexican Grill Inc. | ||||||
| McDonald’s Corp. | ||||||
| Starbucks Corp. | ||||||
| Equity Turnover, Sector | ||||||
| Consumer Services | ||||||
| Equity Turnover, Industry | ||||||
| Consumer Discretionary | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Equity turnover = Revenues ÷ Total Hilton stockholders’ deficit
= ÷ =
2 Click competitor name to see calculations.
- Revenues
- Over the five-year period, revenues experienced significant fluctuations. There was a sharp decline from 9,452 million US dollars in 2019 to 4,307 million US dollars in 2020, indicating a substantial reduction in revenue by more than half. This drop is followed by a moderate recovery in 2021 where revenues increased to 5,788 million US dollars. The upward trend continued more robustly in 2022, reaching 8,773 million US dollars, and further improved in 2023 to 10,235 million US dollars. Overall, revenues demonstrated resilience and recovery after the considerable downturn in 2020, ultimately surpassing pre-2019 levels by the end of 2023.
- Total Hilton stockholders’ deficit
- The stockholders’ deficit exhibited increased volatility throughout the period. Initially, a deficit of 482 million US dollars was recorded in 2019, which deepened sharply in 2020 to 1,490 million US dollars, correlating with the substantial revenue decline observed during the same year. In 2021, the deficit contracted to 821 million US dollars, suggesting some improvement in equity positions. However, the deficit widened again in 2022 to 1,102 million US dollars, and further escalated significantly in 2023, reaching a deficit of 2,360 million US dollars. This upward trajectory in deficit indicates ongoing challenges in equity management or financial stability despite growth in revenues after 2020.
- Equity turnover
- No data was available regarding equity turnover ratios during the reported periods, leaving an incomplete picture for analysis of asset utilization relative to equity.