Huazhu Group Ltd
NASDAQ: HTHT · CONSUMER CYCLICAL · LODGING
Updated 2026-06-05
Huazhu Group Ltd (HTHT) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $-68.25M | $-13.74M | $296.34M | $469.13M | $467.06M | $715.72M | $1.07B | $1.45B | $1.75B | $2.05B | $2.45B | $3.05B | $3.29B | $609.00M | $1.34B | $1.56B | $7.67B | $7.62B | $8.15B |
| Capital expenditures | $259.83M | $470.35M | $264.78M | $404.88M | $783.43M | $1.00B | $1.08B | $941.35M | $649.04M | $516.69M | $827.38M | $1.20B | $1.53B | $1.78B | $1.68B | $1.05B | $901.00M | $895.51M | $815.17M |
| Depreciation | $32.90M | $90.84M | $145.57M | $171.54M | $236.86M | $347.57M | $463.15M | $570.72M | $661.40M | $694.89M | $789.25M | $891.00M | $1.02B | $1.45B | $1.56B | $1.51B | $1.41B | $1.33B | — |
| Stock-based comp | $14.79M | $4.82M | $7.96M | $13.11M | $15.48M | $20.84M | $30.47M | $31.94M | $52.53M | $55.44M | $66.37M | $83.00M | $110.00M | $122.00M | $109.00M | $87.00M | $143.00M | $322.00M | $420.00M |
| Free cash flow | $-328.09M | $-484.09M | $31.56M | $64.24M | $-316.37M | $-285.86M | $-6.77M | $512.67M | $1.10B | $1.53B | $1.63B | $1.85B | $1.76B | $-1.17B | $-333.00M | $511.00M | $6.77B | $6.73B | $7.34B |
| Investing cash flow | $-284.01M | $-451.59M | $-256.03M | $-515.31M | $-734.58M | $-1.07B | $-1.15B | $-1.06B | $-1.55B | $183.76M | $-6.72B | $-6.34B | $-285.00M | $-8.10B | $-1.40B | $-522.00M | $-1.48B | $-2.27B | — |
| Financing cash flow | $499.31M | $482.48M | $47.06M | $845.84M | $5.51M | $19.89M | $30.65M | $21.68M | $232.28M | $-247.55M | $4.54B | $4.25B | $6.04B | $883.00M | $-1.80B | $-1.39B | $-3.72B | $-5.58B | — |
| Dividends paid | — | $1.01M | $2.20M | $2.30M | $3.15M | — | — | $5.36M | $4.60M | $276.26M | $306.34M | $5.00M | $658.00M | $678.00M | $416.00M | $416.00M | $0.00 | $3.53B | $3.80B |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Debt repayment | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net change in cash | — | — | — | — | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — |
Frequently asked questions
What is Huazhu Group Ltd's revenue?
Huazhu Group Ltd's trailing twelve-month revenue is $25.91B. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is HTHT?
In its most recent fiscal year, HTHT ran a gross margin of 39.39%, an operating margin of 25.43%, and a net margin of 20.07%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does HTHT generate?
HTHT produced $7.34B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is HTHT's balance sheet healthy?
HTHT holds $10.54B in cash and equivalents against $479.00M in long-term debt, on $12.81B of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.