Hotels · 11/36 against 13/36 checks · to 2026-09-08
HLT vs MAR.
HiltonFranchises and manages hotels under Hilton, Hampton, Waldorf Astoria and other brands.
MarriottFranchises and manages hotels under Marriott, Sheraton, Westin and other brands.→Hilton (HLT) and Marriott (MAR) are within reach of each other at $68.5B and $85.7B, and on the filings Marriott passes more, 13 checks of 36 against 11.
Which passes more checks?
widest gap first→No axis separates them by more than 1 of six checks, and the widest is Value.
| HLT | MAR | |
|---|---|---|
| Value | 0/6 | 1/6 |
| Quality | 4/6 | 3/6 |
| Health | 1/6 | 2/6 |
| Trend analysis | 0/6 | 1/6 |
| Growth | 2/6 | 2/6 |
| Shareholder returns | 4/6 | 4/6 |
| All checks | 11/36 | 13/36 |
→Marriott turns over $26.9B to Hilton's $12.5B, 2.2 times as much. Hilton keeps 12.7% of revenue as profit against 9.6% at Marriott.
Which is cheaper?
→Marriott is the cheaper of the two on earnings, 34.8x against 45.7x. Against their own histories, Hilton is above its 34.3x median and Marriott is above its 24.9x.
| HLT | MAR | |
|---|---|---|
| Share price | $304.47 | $328.79 |
| Market cap | $68.5B | $85.7B |
| P/E | 45.7x | 34.8x |
| P/E, own median own 10-year median / own 10-year median | 34.3x | 24.9x |
| P/S | 5.5x | 3.2x |
| Free cash flow yield | 3.0% | 3.7% |
Which keeps more of each sale?
→Hilton keeps more of each sale: operating margin of 23.3% against 15.8%, a gap of 8 points that flows into everything below it.
| HLT | MAR | |
|---|---|---|
| Gross margin | - | - |
| Operating margin | 23.3% | 15.8% |
| Return on equity | - | - |
Which balance sheet is stronger?
| HLT | MAR | |
|---|---|---|
| Debt / equity | - | - |
| Interest coverage | 4.4x | 5.0x |
| Cash and short-term investments | $1.0B | $462M |
Which is growing faster, HLT or MAR?
→Hilton grew revenue faster last year, +8.7% against +4.7% at Marriott - 4 points apart. Over three years the order is the same, Hilton at +11.1% and Marriott at +8.0%.
| HLT | MAR | |
|---|---|---|
| Revenue (TTM) | $12.5B | $26.9B |
| Revenue growth, 1 year | +8.7% | +4.7% |
| Revenue CAGR, 3 years | +11.1% | +8.0% |
| Net income (TTM) | $1.6B | $2.6B |
| Free cash flow (TTM) | $2.0B | $3.1B |
Which hands more back to owners?
→Both pay: Marriott yields the more at 0.8% against 0.2%. A yield rises when a price falls, so read it beside the payout checks in each report.
| HLT | MAR | |
|---|---|---|
| Dividend yield | 0.2% | 0.8% |
| Payout ratio | 9.0% | 27.8% |
| Years of unbroken dividend | - | - |
Where they differ most
the checks behind the gapValue: Marriott 1 ahead
- Free cash flow yield above 3% 3.7% vs 3.0%
- Earnings yield beats a long bond (4%) 2.2% vs 4.0%
- Free cash flow yield above 3% 3.0% vs 3.0%
- Cheap on enterprise value 25.82 vs 14.00 (peer median)
Quality: Hilton 1 ahead
- Runs leaner than peers (operating margin) 23.3% vs 21.8% (sector 70th pct, n=23)
- Actually profitable TTM net income $1.6B
- Earns a real return on the capital it employs 24.6% vs 10.0%
- Better net margins than peers 9.6% vs 13.7% (sector 70th pct, n=27)
- Runs leaner than peers (operating margin) 15.8% vs 21.8% (sector 70th pct, n=23)
- Earns well on shareholders' money negative equity