Hilton Grand Vacations (HGV) Gross Margin (2017 - 2026)
Hilton Grand Vacations (HGV) reported Gross Margin of 43.55% for Q3 2026, up 8.24 percentage points from 35.31% a year earlier and up 6.80 percentage points from the prior quarter.
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Analysis
Hilton Grand Vacations (HGV) Gross Margin (2017 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Hilton Grand Vacations' Gross Margin came in at 39.57%, up 4.35 percentage points year-over-year; for FY2025, it came in at 35.61%, down 1.56 percentage points from FY2024.
- Gross Margin has declined for four consecutive years, with a five-year change of -21.78 percentage points (FY2020 to FY2025).
- By year, Gross Margin came in at 37.16% in FY2024 (-3.44 pp), 40.60% in FY2023 (-0.39 pp), 40.99% in FY2022 (-31.04 pp) and 72.03% in FY2021 (+14.65 pp).
- The Q3 2026 figure ranks as the highest quarterly Gross Margin since Q3 2023.
- Year over year, Gross Margin has now increased in each of the last four quarters, with an average year-over-year change of +10.23 percentage points over the last eight quarters.
- The high point for year-over-year Gross Margin in five years was Q4 2024 (a gain of 74.14 percentage points); the low point was Q4 2022 (a drop of 116.17 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 36.75% (Q2 2026), 37.12% (Q1 2026) and 38.93% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 108.57 Bn | 106.84 Bn | 1.54 Bn | 22.03% |
| 2 | Royal Caribbean Cruises | 87.25 Bn | 84.19 Bn | 2.88 Bn | 51.51% |
| 3 | Hilton Worldwide Holdings | 83.02 Bn | 79.75 Bn | 3.05 Bn | 91.85% |
| 4 | Carnival | 40.37 Bn | 33.56 Bn | - | - |
| 5 | Viking Holdings | 38.85 Bn | 23.97 Bn | 996.62 Mn | 45.50% |
| 6 | Trip.com | 29.18 Bn | -15.85 Bn | 1.84 Bn | 79.81% |
| 7 | Intercontinental Hotels | 27.60 Bn | 23.56 Bn | - | - |
| 8 | Hyatt Hotels | 17.33 Bn | 14.74 Bn | 384.00 Mn | 22.03% |
| 9 | H World | 15.68 Bn | 7.08 Bn | 456.00 Mn | 43.43% |
| 10 | Hilton Grand Vacations | 3.39 Bn | 2.39 Bn | 854.00 Mn | 43.55% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 43.55% |
| Jun 30, 2026 | 36.75% |
| Mar 31, 2026 | 37.12% |
| Dec 31, 2025 | 38.93% |
| Sep 30, 2025 | 35.31% |
| Jun 30, 2025 | 34.44% |
| Mar 31, 2025 | 33.36% |
| Dec 31, 2024 | 37.54% |
| Sep 30, 2024 | 37.60% |
| Jun 30, 2024 | 35.38% |
| Mar 31, 2024 | 38.15% |
| Dec 31, 2023 | -36.60% |
| Sep 30, 2023 | 67.19% |
| Jun 30, 2023 | 66.63% |
| Mar 31, 2023 | 67.77% |
| Dec 31, 2022 | -42.54% |
| Sep 30, 2022 | 71.15% |
| Jun 30, 2022 | 70.04% |
| Mar 31, 2022 | 68.81% |
| Dec 31, 2021 | 73.63% |
API Access
Hilton Grand Vacations Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=HGV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "HGV", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=HGV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();