Hilton Worldwide Holdings Inc.、合并资产负债表结构：负债和股东权益（季度数据）
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2024年6月30日 |
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2024年3月31日 |
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2023年12月31日 |
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2023年9月30日 |
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2023年6月30日 |
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2023年3月31日 |
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2022年12月31日 |
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2022年9月30日 |
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2022年6月30日 |
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2022年3月31日 |
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2021年12月31日 |
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2021年9月30日 |
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2021年6月30日 |
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2021年3月31日 |
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2020年12月31日 |
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2020年9月30日 |
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2020年6月30日 |
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2020年3月31日 |
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2019年12月31日 |
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2019年9月30日 |
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2019年6月30日 |
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2019年3月31日 |
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应付账款、应计费用及其他 |
12.16% | |
12.15% | |
12.85% | |
12.34% | |
11.07% | |
11.20% | |
11.54% | |
11.14% | |
10.71% | |
10.38% | |
10.15% | |
9.36% | |
8.95% | |
7.96% | |
7.77% | |
8.10% | |
8.01% | |
9.25% | |
11.39% | |
11.84% | |
10.94% | |
11.30% | |
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|
长期债务的当前到期日 |
3.43% | |
0.24% | |
0.25% | |
0.24% | |
0.23% | |
0.23% | |
0.25% | |
0.25% | |
0.27% | |
0.29% | |
0.35% | |
0.35% | |
0.33% | |
0.30% | |
0.33% | |
0.30% | |
0.26% | |
0.26% | |
0.25% | |
0.25% | |
0.24% | |
0.24% | |
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递延收入的当前部分 |
3.18% | |
3.22% | |
3.26% | |
3.03% | |
3.01% | |
2.92% | |
2.79% | |
1.72% | |
1.69% | |
1.75% | |
2.27% | |
1.95% | |
2.56% | |
2.28% | |
2.21% | |
1.43% | |
1.41% | |
1.53% | |
2.22% | |
1.92% | |
1.97% | |
2.17% | |
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宾客忠诚度计划的当前责任部分 |
8.09% | |
8.08% | |
7.80% | |
7.82% | |
8.15% | |
7.94% | |
7.16% | |
8.59% | |
8.11% | |
7.54% | |
6.78% | |
5.47% | |
6.57% | |
4.96% | |
4.20% | |
3.60% | |
3.78% | |
3.02% | |
5.34% | |
5.23% | |
5.20% | |
5.10% | |
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|
流动负债 |
26.85% |
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23.69% |
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24.17% |
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23.43% |
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22.46% |
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22.29% |
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21.74% |
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21.70% |
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20.77% |
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19.96% |
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19.55% |
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17.12% |
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18.42% |
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15.50% |
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14.51% |
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13.42% |
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13.46% |
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14.06% |
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19.20% |
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19.25% |
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18.36% |
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18.81% |
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长期债务，不包括当前到期的债务 |
61.21% | |
63.61% | |
59.46% | |
57.12% | |
56.85% | |
57.23% | |
56.14% | |
56.05% | |
56.57% | |
56.41% | |
56.42% | |
56.90% | |
57.76% | |
62.03% | |
62.26% | |
60.94% | |
60.94% | |
59.89% | |
53.19% | |
51.55% | |
51.33% | |
49.35% | |
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经营租赁负债，非流动负债 |
4.99% | |
4.86% | |
5.25% | |
5.29% | |
5.48% | |
5.46% | |
5.36% | |
5.07% | |
4.90% | |
5.32% | |
5.63% | |
5.87% | |
6.33% | |
6.07% | |
5.80% | |
5.57% | |
5.41% | |
6.12% | |
6.93% | |
6.66% | |
7.04% | |
7.43% | |
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递延收入 |
7.64% | |
7.23% | |
7.35% | |
7.22% | |
6.68% | |
6.52% | |
6.36% | |
5.45% | |
5.56% | |
5.47% | |
5.80% | |
5.16% | |
5.29% | |
5.82% | |
5.99% | |
8.23% | |
8.44% | |
5.88% | |
5.53% | |
5.54% | |
5.43% | |
5.59% | |
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递延所得税负债 |
2.34% | |
2.34% | |
2.60% | |
4.64% | |
4.64% | |
4.70% | |
4.74% | |
5.12% | |
4.73% | |
4.65% | |
4.53% | |
4.69% | |
4.54% | |
3.86% | |
3.87% | |
3.84% | |
3.91% | |
4.75% | |
5.32% | |
5.79% | |
5.69% | |
5.72% | |
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客人忠诚度计划的责任 |
10.33% | |
9.75% | |
9.93% | |
9.28% | |
8.68% | |
8.59% | |
8.28% | |
8.07% | |
8.14% | |
8.22% | |
8.53% | |
11.36% | |
10.56% | |
10.85% | |
10.54% | |
9.67% | |
9.49% | |
9.10% | |
7.09% | |
6.66% | |
6.51% | |
6.65% | |
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其他 |
6.20% | |
6.20% | |
6.48% | |
4.55% | |
4.51% | |
4.50% | |
4.46% | |
4.44% | |
4.47% | |
4.48% | |
4.83% | |
6.28% | |
6.49% | |
6.02% | |
5.90% | |
6.02% | |
5.89% | |
5.92% | |
5.90% | |
5.87% | |
5.79% | |
5.73% | |
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长期负债 |
92.71% |
|
93.99% |
|
91.07% |
|
88.11% |
|
86.85% |
|
87.00% |
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85.34% |
|
84.20% |
|
84.36% |
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84.55% |
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85.75% |
|
90.24% |
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90.97% |
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94.64% |
|
94.36% |
|
94.28% |
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94.07% |
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91.66% |
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83.96% |
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82.07% |
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81.79% |
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80.46% |
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负债合计 |
119.56% |
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117.68% |
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115.24% |
|
111.53% |
|
109.30% |
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109.29% |
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107.08% |
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105.89% |
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105.13% |
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104.51% |
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105.30% |
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107.37% |
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109.38% |
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110.14% |
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108.87% |
|
107.70% |
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107.54% |
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105.73% |
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103.16% |
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101.32% |
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100.15% |
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99.27% |
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可赎回非控制性权益 |
0.13% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
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普通股，面值 0.01 美元 |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
0.02% | |
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库存股，按成本计算 |
-62.15% | |
-56.87% | |
-54.50% | |
-50.31% | |
-45.47% | |
-42.66% | |
-38.94% | |
-35.76% | |
-32.82% | |
-29.58% | |
-28.77% | |
-29.04% | |
-29.47% | |
-27.88% | |
-26.58% | |
-26.02% | |
-26.02% | |
-28.26% | |
-27.87% | |
-24.73% | |
-21.82% | |
-19.67% | |
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额外实收资本 |
70.04% | |
68.75% | |
71.22% | |
71.88% | |
71.12% | |
71.10% | |
69.82% | |
69.58% | |
69.91% | |
69.23% | |
69.43% | |
69.57% | |
70.27% | |
66.03% | |
62.98% | |
61.25% | |
61.11% | |
66.15% | |
70.13% | |
69.42% | |
68.82% | |
69.84% | |
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累计赤字 |
-22.86% | |
-24.99% | |
-27.32% | |
-28.39% | |
-30.42% | |
-33.04% | |
-33.46% | |
-35.32% | |
-37.60% | |
-39.52% | |
-40.94% | |
-42.24% | |
-44.47% | |
-42.82% | |
-40.18% | |
-37.99% | |
-37.54% | |
-38.00% | |
-39.88% | |
-40.47% | |
-41.89% | |
-44.15% | |
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累计其他综合亏损 |
-4.85% | |
-4.70% | |
-4.75% | |
-4.79% | |
-4.60% | |
-4.76% | |
-4.55% | |
-4.42% | |
-4.64% | |
-4.66% | |
-5.05% | |
-5.67% | |
-5.74% | |
-5.51% | |
-5.13% | |
-4.98% | |
-5.14% | |
-5.69% | |
-5.62% | |
-5.63% | |
-5.32% | |
-5.37% | |
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希尔顿股东权益总额（赤字） |
-19.80% |
|
-17.78% |
|
-15.32% |
|
-11.60% |
|
-9.35% |
|
-9.34% |
|
-7.10% |
|
-5.89% |
|
-5.13% |
|
-4.52% |
|
-5.32% |
|
-7.37% |
|
-9.39% |
|
-10.16% |
|
-8.89% |
|
-7.73% |
|
-7.58% |
|
-5.79% |
|
-3.22% |
|
-1.38% |
|
-0.20% |
|
0.67% |
|
|
|
非控制性权益 |
0.11% | |
0.10% | |
0.08% | |
0.07% | |
0.05% | |
0.05% | |
0.03% | |
-0.01% | |
0.00% | |
0.01% | |
0.01% | |
0.00% | |
0.01% | |
0.02% | |
0.02% | |
0.03% | |
0.05% | |
0.06% | |
0.07% | |
0.06% | |
0.05% | |
0.05% | |
|
|
总权益（赤字） |
-19.69% |
|
-17.68% |
|
-15.24% |
|
-11.53% |
|
-9.30% |
|
-9.29% |
|
-7.08% |
|
-5.89% |
|
-5.13% |
|
-4.51% |
|
-5.30% |
|
-7.37% |
|
-9.38% |
|
-10.14% |
|
-8.87% |
|
-7.70% |
|
-7.54% |
|
-5.73% |
|
-3.16% |
|
-1.32% |
|
-0.15% |
|
0.73% |
|
|
|
负债总额、可赎回非控制性权益和权益（赤字） |
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
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根据报告：
10-Q (报告日期： 2024-06-30), 10-Q (报告日期： 2024-03-31), 10-K (报告日期： 2023-12-31), 10-Q (报告日期： 2023-09-30), 10-Q (报告日期： 2023-06-30), 10-Q (报告日期： 2023-03-31), 10-K (报告日期： 2022-12-31), 10-Q (报告日期： 2022-09-30), 10-Q (报告日期： 2022-06-30), 10-Q (报告日期： 2022-03-31), 10-K (报告日期： 2021-12-31), 10-Q (报告日期： 2021-09-30), 10-Q (报告日期： 2021-06-30), 10-Q (报告日期： 2021-03-31), 10-K (报告日期： 2020-12-31), 10-Q (报告日期： 2020-09-30), 10-Q (报告日期： 2020-06-30), 10-Q (报告日期： 2020-03-31), 10-K (报告日期： 2019-12-31), 10-Q (报告日期： 2019-09-30), 10-Q (报告日期： 2019-06-30), 10-Q (报告日期： 2019-03-31).
从所提供的财务数据中可以观察到公司负债结构的持续变化以及股东权益的逐步恶化。在2020年初，尤其是疫情爆发期间，整体负债比例显著上升，长期负债占比超过80%，表现出对债务融资的高度依赖，反映出在特殊时期公司为维持运营采取了大量的借款措施。
应付账款及相关应计费用的比例在整个期间保持相对稳定，略有上升，表明公司的短期应付负债比率逐步增加。同时，流动负债占总负债的比例呈逐步上升的趋势，尤其是2024年第二季度，已达26.85%，显示出短期融资压力逐渐加大，可能对公司的流动性带来压力。
长期债务占比虽在整体上保持较高水平（大约在56%至63%区间），但在疫情期间出现一定波动，尤其是2020年第一季度后逐渐提升，指示公司更倾向于以长期负债结构支撑其运营资金需求。这种债务结构加重意味着未来偿债压力可能逐步释放，但也表明企业依赖外部融资的程度较高。
递延收入的比例在2020年最大值达8.44%，之后逐渐回落至接近2023年水平（约7.2%），反映出收入确认政策和客户预付款的变化。宾客忠诚度计划的责任占比从5%左右逐步上升到接近10%，表明公司忠诚度计划责任规模扩大，可能对应客户基础的增长或相关责任账务的调整。
公司股东权益（赤字）持续恶化，从2020年中开始逐渐下降，2024年第三季度已达到-19.8%，显示公司在该时期内累计了大量亏损或减少的权益。这种亏损趋势伴随着负债比例的不断上升，意味着财务杠杆不断加大，权益的相对价值在持续下降。同时，库存股负债比例在逐步恶化，显示股东权益的摊薄趋势明显，反映投资者权益的缩水。
整体来看，公司的财务结构显示出较高的负债比例，尤其是长期负债居于主导地位，且权益部分持续亏损或负值，反映出财务状况压力较大。虽然疫情期间公司采取的债务融资策略帮助其渡过短期困难，但长期来看，权益的恶化加大了财务风险。未来需要关注公司偿债能力、权益修复和财务结构优化的潜在措施，以应对持续的债务压力与盈利不确定性。
