Forensic Analysis · General / Diversified · as of Jun 27, 2026

Hyatt Hotels Corp (H)

A forensic read on Hyatt Hotels Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Distress

Financial health

0.8

Altman Z-score

Clean

Earnings quality

Forensic signals

-1.0%

ROE

$18.6B

Market cap

0.31%

Dividend yield

Hyatt Hotels Corp earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is 0.8, placing it in the Distress zone. 5 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

0%Return on invested capital. Return on invested capital is 0% and slipping from 4% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.

1% of revStock-based comp load. Stock-based compensation ran 1% of revenue and 47% of free cash flow in FY2025 — about $0.77 per diluted share. Heavy — a large slice of 'free cash flow' is really being paid out in stock, so the true owner cash per share is well below the headline.

220% of FCFShareholder returns. Returned $350M to shareholders (buybacks + dividends) in FY2025 — 220% of free cash flow. More than free cash flow generated — and beyond operating cash too, so the extra is coming from debt or cash reserves, which isn't sustainable indefinitely.

$246MGoodwill impairments. Took $246M of goodwill writedowns across 4 year(s) (FY2020 ($38M), FY2022 ($7M), FY2024 ($163M)) — about 14% of net income over the span. Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.

-75%Dividend — cut. The payout was CUT ~75% in FY2020 (from FY2019). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies — weigh the cut when judging reliability.

Key fundamentals

Net Margin-0.7%

Debt / Equity1.28x

Free Cash Flow$159.0M

Latest Revenue$7.10B

Return on Equity-1.6%

Revenue Growth YoY+6.8%

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Data from SEC EDGAR public filings · metrics as of Jun 27, 2026. Forensic signals flag probability, not certainty.