Cash flow Hilton Grand Vacations Inc.

Equities

HGV

US43283X1054

Hotels, Motels & Cruise Lines

Market Closed - Nyse Other stock markets 04:00:02 2025-01-15 pm EST			Pre-market 07:53:09 am
39.42 ^USD	+0.87%		39.42	-0.01%

Jan. 06	Morgan Stanley Initiates Hilton Grand Vacations at Overweight	MT
Dec. 13	Barclays Downgrades Hilton Grand Vacations Equalweight From Overweight, Cuts Price Target to $41 From $44	MT

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Published financial data: HILTON GRAND VACATIONS INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	1.5B	592M	1.95B	3.27B	3.28B
Finance Div. Revenues	170M	165M	183M	267M	307M
Total Revenues	1.67B	757M	2.13B	3.54B	3.59B
Cost of Goods Sold, Total	1.14B	603M	1.29B	2.28B	2.4B
Interest Expense - Finance Division	53M	53M	65M	103M	99M
Gross Profit	477M	101M	775M	1.15B	1.09B
Selling General & Admin Expenses, Total	111M	92M	116M	197M	161M
Depreciation & Amortization - (IS)	51M	45M	126M	244M	213M
Other Operating Expenses	0	0	0	0	0
Other Operating Expenses, Total	162M	137M	242M	441M	374M
Operating Income	315M	-36M	533M	710M	717M
Interest Expense, Total	-43M	-43M	-105M	-142M	-178M
Net Interest Expenses	-43M	-43M	-105M	-142M	-178M
Income (Loss) On Equity Invest.	4M	5M	10M	13M	12M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	-3M	3M	-6M	-1M	2M
EBT, Excl. Unusual Items	273M	-71M	432M	580M	553M
Merger & Related Restructuring Charges	-	-	-106M	-67M	-68M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-209M	-2M	-17M	-3M
Legal Settlements	-	-	-	-15M	-33M
Other Unusual Items	-	-	-55M	-	-
EBT, Incl. Unusual Items	273M	-280M	269M	481M	449M
Income Tax Expense	57M	-79M	93M	129M	136M
Earnings From Continuing Operations	216M	-201M	176M	352M	313M
Net Income to Company	216M	-201M	176M	352M	313M
Net Income - (IS)	216M	-201M	176M	352M	313M
Net Income to Common Incl Extra Items	216M	-201M	176M	352M	313M
Net Income to Common Excl. Extra Items	216M	-201M	176M	352M	313M
Per Share Items
Net EPS - Basic	2.43	-2.36	1.76	2.98	2.84
Basic EPS - Continuing Operations	2.43	-2.36	1.76	2.98	2.84
Basic Weighted Average Shares Outstanding	88.76M	85.18M	99.75M	118M	110M
Net EPS - Diluted	2.42	-2.36	1.75	2.93	2.8
Diluted EPS - Continuing Operations	2.42	-2.36	1.75	2.93	2.8
Diluted Weighted Average Shares Outstanding	89.29M	85.18M	101M	120M	112M
Normalized Basic EPS	1.92	-0.52	2.71	3.07	3.14
Normalized Diluted EPS	1.91	-0.52	2.67	3.02	3.1
Payout Ratio	-	-	-	-	-
Supplemental Items
EBITDA	366M	9M	659M	954M	930M
EBITA	331M	-21M	623M	902M	880M
EBIT	315M	-36M	533M	710M	717M
EBITDAR	387M	29M	681M	992M	969M
Total Revenues (As Reported)	1.84B	894M	2.34B	3.84B	3.98B
Effective Tax Rate - (Ratio)	20.88	28.21	34.57	26.82	30.29
Current Domestic Taxes	46M	41M	4M	121M	123M
Current Foreign Taxes	8M	3M	31M	46M	36M
Total Current Taxes	54M	44M	35M	167M	159M
Deferred Domestic Taxes	4M	-121M	60M	-37M	-23M
Deferred Foreign Taxes	-1M	-2M	-2M	-1M	-
Total Deferred Taxes	3M	-123M	58M	-38M	-23M
Normalized Net Income	171M	-44.38M	270M	362M	346M
Interest on Long-Term Debt	-	-	-	-	-
Supplemental Operating Expense Items
Selling and Marketing Expenses	-	-	-	-	-
General and Administrative Expenses	111M	92M	116M	197M	161M
Net Rental Expense, Total	21M	20M	22M	38M	39M
Imputed Operating Lease Interest Expense	4.79M	3.78M	5.85M	10.56M	13.16M
Imputed Operating Lease Depreciation	16.21M	16.22M	16.15M	27.44M	25.84M
Stock-Based Comp., G&A Exp. (Total)	22M	15M	48M	-	-
Stock-Based Comp., Other (Total)	-	-	-	46M	40M
Total Stock-Based Compensation	22M	15M	48M	46M	40M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	67M	428M	432M	223M	589M
Trading Asset Securities, Total	-	-	-	63M	42M
Total Cash And Short Term Investments	67M	428M	432M	286M	631M
Accounts Receivable, Total	174M	119M	200M	329M	343M
Other Receivables	-	-	118M	199M	185M
Total Receivables	174M	119M	318M	528M	528M
Inventory	565M	709M	1.24B	1.17B	1.4B
Prepaid Expenses	13M	12M	123M	117M	89M
Finance Division Loans and Leases Current	1.16B	974M	1.75B	1.77B	2.11B
Restricted Cash	85M	98M	263M	332M	296M
Other Current Assets, Total	-	41M	41M	-	-
Total Current Assets	2.06B	2.38B	4.17B	4.2B	5.06B
Gross Property Plant And Equipment	948M	684M	981M	1.04B	1.04B
Accumulated Depreciation	-110M	-131M	-155M	-169M	-223M
Net Property Plant And Equipment	838M	553M	826M	874M	819M
Long-term Investments	44M	51M	59M	72M	71M
Goodwill	-	-	1.38B	1.42B	1.42B
Other Intangibles, Total	89M	81M	1.44B	1.28B	1.16B
Deferred Tax Assets Long-Term	-	-	7M	8M	9M
Deferred Charges Long-Term	12M	25M	32M	33M	39M
Other Long-Term Assets, Total	36M	43M	99M	126M	113M
Total Assets	3.08B	3.13B	8.01B	8B	8.68B
Liabilities
Accounts Payable, Total	24M	20M	63M	83M	144M
Accrued Expenses, Total	188M	170M	510M	661M	572M
Current Portion of Long-Term Debt	-	-	-	282M	272M
Current Portion of Leases	17M	18M	25M	26M	20M
Current Income Taxes Payable	8M	2M	23M	34M	11M
Other Current Liabilities	-	-	-	124M	123M
Total Current Liabilities	237M	210M	621M	1.21B	1.14B
Long-Term Debt	1.58B	1.92B	4.24B	3.47B	4.24B
Long-Term Leases	59M	49M	62M	68M	58M
Unearned Revenue Non Current	360M	427M	393M	391M	448M
Deferred Tax Liability Non Current	259M	137M	670M	659M	631M
Other Non Current Liabilities	19M	12M	33M	54M	48M
Total Liabilities	2.51B	2.76B	6.02B	5.85B	6.57B
Common Stock, Total	1M	1M	1M	1M	1M
Additional Paid In Capital	179M	192M	1.63B	1.58B	1.5B
Retained Earnings	390M	181M	357M	529M	593M
Comprehensive Income and Other	-	-	-	39M	17M
Total Common Equity	570M	374M	1.99B	2.15B	2.12B
Total Equity	570M	374M	1.99B	2.15B	2.12B
Total Liabilities And Equity	3.08B	3.13B	8.01B	8B	8.68B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	85.54M	85.24M	120M	112M	104M
ECS Total Common Shares Outstanding	85.54M	85.21M	120M	114M	106M
Book Value / Share	6.66	4.39	16.58	18.93	19.96
Tangible Book Value	481M	293M	-830M	-542M	-461M
Tangible Book Value Per Share	5.62	3.44	-6.92	-4.77	-4.35
Total Debt	1.65B	1.99B	4.33B	3.85B	4.59B
Net Debt	1.58B	1.56B	3.9B	3.56B	3.96B
Debt Equivalent Oper. Leases	168M	160M	176M	304M	312M
Equity Method Investments, Total	44M	51M	59M	72M	71M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Work In Process, Total	59M	186M	20M	62M	140M
Inventories - Finished Goods, Total	241M	515M	1.22B	1.1B	1.26B
Inventories - Others	258M	1M	1M	1M	1M
Land - (BS)	154M	109M	193M	235M	232M
Buildings, Total	286M	250M	405M	403M	415M
Machinery, Total	65M	65M	82M	78M	113M
Full Time Employees	9.11K	4.9K	13K	14.5K	15K
Part Time Employees	-	1.8K	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	21M	20M	39M	52M	60M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	216M	-201M	176M	352M	313M
Depreciation & Amortization - CF	35M	30M	36M	52M	50M
Amortization of Goodwill and Intangible Assets - (CF)	16M	15M	90M	192M	163M
Depreciation & Amortization, Total	51M	45M	126M	244M	213M
Amortization of Deferred Charges, Total - (CF)	10M	18M	39M	52M	33M
(Gain) Loss From Sale Of Asset	3M	-1M	14M	3M	-2M
Asset Writedown & Restructuring Costs	-	209M	2M	17M	3M
Provision for Credit Losses	74M	75M	121M	142M	171M
(Income) Loss On Equity Investments - (CF)	-4M	-5M	-8M	-13M	4M
Stock-Based Compensation (CF)	22M	15M	48M	46M	40M
Other Operating Activities, Total	4M	-123M	58M	-38M	-23M
Change In Accounts Receivable	-20M	56M	-124M	-177M	10M
Change In Inventories	-172M	-127M	-18M	92M	-103M
Change In Accounts Payable	-17M	-56M	-48M	294M	-86M
Change in Unearned Revenues	105M	78M	-174M	-9M	62M
Change in Other Net Operating Assets	-127M	96M	-44M	-258M	-323M
Cash from Operations	145M	79M	168M	747M	312M
Capital Expenditure	-37M	-8M	-18M	-58M	-31M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-	-	-1.59B	-	-74M
Sale (Purchase) of Intangible assets	-26M	-23M	-21M	-39M	-44M
Investment in Marketable and Equity Securities, Total	-2M	-2M	-	-	-1M
Other Investing Activities, Total	-	-	-	-	-8M
Cash from Investing	-65M	-33M	-1.63B	-97M	-158M
Long-Term Debt Issued, Total	850M	990M	3.21B	809M	1.63B
Total Debt Issued	850M	990M	3.21B	809M	1.63B
Long-Term Debt Repaid, Total	-666M	-640M	-1.51B	-1.3B	-1.07B
Total Debt Repaid	-666M	-640M	-1.51B	-1.3B	-1.07B
Issuance of Common Stock	3M	3M	14M	7M	17M
Repurchase of Common Stock	-287M	-14M	-6M	-280M	-382M
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Other Financing Activities, Total	-8M	-11M	-73M	-15M	-11M
Cash from Financing	-108M	328M	1.64B	-782M	183M
Foreign Exchange Rate Adjustments	-	-	-4M	-8M	-7M
Net Change in Cash	-28M	374M	169M	-140M	330M
Supplemental Items
Cash Interest Paid	63M	64M	66M	177M	187M
Cash Income Tax Paid (Refund)	74M	54M	54M	141M	187M
Levered Free Cash Flow	105M	9.62M	-930M	729M	-19.12M
Unlevered Free Cash Flow	122M	18.5M	-903M	766M	59.12M
Change In Net Working Capital	85M	-12M	1.37B	-129M	567M
Net Debt Issued / Repaid	184M	350M	1.7B	-494M	559M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	6.75	-0.72	5.98	5.54	5.37
Return on Total Capital	9.38	-0.98	7.67	7.21	7.05
Return On Equity %	36.42	-42.58	14.9	17.01	14.67
Return on Common Equity	36.42	-42.58	14.9	17.01	14.67
Margin Analysis
Gross Profit Margin %	28.56	13.34	36.33	32.53	30.37
SG&A Margin	6.65	12.15	5.44	5.57	4.48
EBITDA Margin %	21.92	1.19	30.9	26.96	25.89
EBITA Margin %	19.82	-2.77	29.21	25.49	24.5
EBIT Margin %	18.86	-4.76	24.99	20.07	19.96
Income From Continuing Operations Margin %	12.93	-26.55	8.25	9.95	8.71
Net Income Margin %	12.93	-26.55	8.25	9.95	8.71
Net Avail. For Common Margin %	12.93	-26.55	8.25	9.95	8.71
Normalized Net Income Margin	10.22	-5.86	12.66	10.25	9.62
Levered Free Cash Flow Margin	6.29	1.27	-43.58	20.6	-0.53
Unlevered Free Cash Flow Margin	7.3	2.44	-42.33	21.64	1.65
Asset Turnover
Asset Turnover	0.57	0.24	0.38	0.44	0.43
Fixed Assets Turnover	2.39	1.09	3.09	4.16	4.24
Receivables Turnover (Average Receivables)	9.17	4.04	15.23	12.37	9.78
Inventory Turnover (Average Inventory)	2	0.95	1.32	1.89	1.87
Short Term Liquidity
Current Ratio	8.69	11.34	6.71	3.47	4.43
Quick Ratio	5.89	7.24	4.02	2.13	2.87
Operating Cash Flow to Current Liabilities	0.61	0.38	0.27	0.62	0.27
Days Sales Outstanding (Average Receivables)	39.78	90.57	23.96	29.51	37.33
Days Outstanding Inventory (Average Inventory)	182.18	386.64	275.51	192.65	195.19
Average Days Payable Outstanding	12.09	10.78	8.29	12.06	15.72
Cash Conversion Cycle (Average Days)	209.87	466.43	291.18	210.1	216.8
Long Term Solvency
Total Debt/Equity	289.65	532.62	217.71	178.85	217.16
Total Debt / Total Capital	74.34	84.19	68.52	64.14	68.47
LT Debt/Equity	286.67	527.81	216.45	164.53	203.36
Long-Term Debt / Total Capital	73.57	83.43	68.13	59	64.12
Total Liabilities / Total Assets	81.49	88.07	75.17	73.13	75.65
EBIT / Interest Expense	7.33	-0.84	5.08	5	4.03
EBITDA / Interest Expense	9	0.67	6.49	6.99	5.44
(EBITDA - Capex) / Interest Expense