HGVHIGH SIGNALFINANCIAL10-K

HGV shows significant financial stress with a 27% decline in stockholders' equity and 61% increase in credit losses, despite higher net income.

The substantial decline in stockholders' equity from $1.8B to $1.3B combined with a dramatic 61% increase in provision for credit losses indicates potential deterioration in loan portfolio quality and financial position. While net income increased 72%, this appears overshadowed by the underlying balance sheet weakening and increased credit risk provisions suggesting customers may be struggling to pay their vacation ownership loans.

Comparing 2026-02-26 vs 2025-03-03View on EDGAR →
FINANCIAL ANALYSIS

HGV presents a mixed but concerning financial picture with net income surging 72% to $81M while credit losses spiked 61% to $121M and interest expenses rose 25% to $178M. The balance sheet deteriorated significantly with stockholders' equity falling 26% to $1.3B and cash declining 27% to $239M, even as the company aggressively bought back $600M in shares (up 39%). This combination of increased credit provisions, declining equity, and reduced cash position alongside aggressive capital returns suggests potential financial strain despite improved reported earnings.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
+72.3%
$47.0M→$81.0M

Net income grew 72.3% — bottom-line growth signals improving overall business health.

Capital Expenditure
Cash Flow
+66.7%
$42.0M→$70.0M

Capital expenditure jumped 66.7% — major investment cycle underway; assess returns on deployment.

Provision for Credit Losses
P&L
+61.3%
$75.0M→$121.0M

Credit loss provisions surged 61.3% — management flagging significant deterioration in loan quality ahead.

Share Buybacks
Cash Flow
+38.9%
$432.0M→$600.0M

Share repurchases increased 38.9% — management returning capital, signals confidence in intrinsic value.

Cash & Equivalents
Balance Sheet
-27.1%
$328.0M→$239.0M

Cash decreased 27.1% — monitor burn rate and upcoming capital needs.

Stockholders Equity
Balance Sheet
-26.4%
$1.8B→$1.3B

Equity decreased 26.4% — buybacks or losses reducing book value, monitor solvency ratios.

Interest Expense
P&L
+25.4%
$142.0M→$178.0M

Interest costs rose 25.4% — monitor debt levels and coverage ratio in rising rate environment.

Accounts Receivable
Balance Sheet
-14.3%
$315.0M→$270.0M

Receivables declined — improved collection efficiency or conservative revenue recognition.

LANGUAGE CHANGES
NEW — 2026-02-26
PRIOR — 2025-03-03
ADDED
o Yes x No As of June 30, 2025, the aggregate market value of the registrant s common stock held by non-affiliates of the registrant was $ 3,607 million (based on the closing sale price of the common stock on that date on the New York Stock Exchange).
There were 81,423,992 shares of the registrant s Common Stock outstanding as of February 19, 2026.
Following the spin-off, Hilton did not retain any ownership in HGV.
Our operations primarily consist of: selling VOIs for us and third parties; financing and servicing loans provided to consumers for their VOI purchases; operating resorts and timeshare plans; and managing our exchange programs through which members may receive HGV Max benefits.
Together our timeshare plans and exchange programs are collectively referred to as Clubs .
+7 more — sign up free →
REMOVED
o Yes x No As of June 28, 2024, the aggregate market value of the registrant s common stock held by non-affiliates of the registrant was $ 4,042 million (based on the closing sale price of the common stock on that date on the New York Stock Exchange).
There were 95,280,832 shares of the registrant s Common Stock outstanding as of February 20, 2025.
Legacy-HGV refers to our business and operations that existed both prior to and following the Diamond and Bluegreen Acquisitions (as defined below).
Following the spin-off, Hilton did not retain any ownership in our company.
We refer to the business that we acquired from Diamond as Legacy-Diamond .
+7 more — sign up free →
MORE FINANCIAL SIGNALS
PNRGHIGHPNRG achieved exceptional profitability improvement with net income surging 2,21...
2026-04-16
BNAIHIGHBNAI underwent a dramatic reverse stock split that reduced share count by 86% wh...
2026-04-16
LAKEHIGHLAKE's financial performance deteriorated significantly with operating losses wo...
2026-04-16
NXXTHIGHNextNRG experienced massive financial deterioration with operating losses explod...
2026-04-16
ANALYZE ANY FILING FREE

See what changed in your portfolio's filings

500+ US-listed companies analyzed. Language delta, financial analysis, instant signal scoring.

Try Tracenotes free →