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Side-by-side financial comparison of A. O. Smith (AOS) and Hilton Grand Vacations Inc. (HGV). Click either name above to swap in a different company.
Hilton Grand Vacations Inc. is the larger business by last-quarter revenue ($1.2B vs $945.6M, roughly 1.3× A. O. Smith). A. O. Smith runs the higher net margin — 12.5% vs 4.0%, a 8.5% gap on every dollar of revenue. On growth, Hilton Grand Vacations Inc. posted the faster year-over-year revenue change (3.7% vs -2.0%). Hilton Grand Vacations Inc. produced more free cash flow last quarter ($147.0M vs $118.9M). Over the past eight quarters, Hilton Grand Vacations Inc.'s revenue compounded faster (7.4% CAGR vs -3.9%).
A. O. Smith Corporation is an American manufacturer of both residential and commercial water heaters and boilers, and the largest manufacturer and marketer of water heaters in North America. It also supplies water treatment and purification products in the Asian market. The company has 27 locations worldwide, including five manufacturing facilities in North America, as well as plants in Bengaluru in India, Nanjing in China and Veldhoven in The Netherlands.
Hilton Grand Vacations Inc. is a multi-national company that is based in Orlando, Florida, United States. It manages and operates the Hilton Worldwide timeshare and vacation ownership brands under an exclusive licensing agreement with Hilton Worldwide. HGV was formerly a wholly owned subsidiary of Hilton Worldwide until it was spun off into a publicly traded company in 2017. Even though HGV is an independent company post spin-off, Hilton Worldwide still retains full ownership of the Hilton Gr...
AOS vs HGV — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $945.6M | $1.2B |
| Net Profit | $118.0M | $48.0M |
| Gross Margin | 38.7% | — |
| Operating Margin | — | 7.8% |
| Net Margin | 12.5% | 4.0% |
| Revenue YoY | -2.0% | 3.7% |
| Net Profit YoY | -14.0% | 140.0% |
| EPS (diluted) | $0.85 | $0.53 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $945.6M | — | ||
| Q4 25 | $912.5M | $1.2B | ||
| Q3 25 | $942.5M | $1.2B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $963.9M | $1.0B | ||
| Q4 24 | $912.4M | $1.1B | ||
| Q3 24 | $902.6M | $1.2B | ||
| Q2 24 | $1.0B | $1.1B |
| Q1 26 | $118.0M | — | ||
| Q4 25 | $125.4M | $48.0M | ||
| Q3 25 | $132.0M | $25.0M | ||
| Q2 25 | $152.2M | $25.0M | ||
| Q1 25 | $136.6M | $-17.0M | ||
| Q4 24 | $109.7M | $20.0M | ||
| Q3 24 | $120.1M | $29.0M | ||
| Q2 24 | $156.2M | $2.0M |
| Q1 26 | 38.7% | — | ||
| Q4 25 | 38.4% | — | ||
| Q3 25 | 38.7% | — | ||
| Q2 25 | 39.3% | — | ||
| Q1 25 | 38.9% | — | ||
| Q4 24 | 37.1% | — | ||
| Q3 24 | 37.4% | — | ||
| Q2 24 | 38.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 17.9% | 7.8% | ||
| Q3 25 | 18.6% | 3.9% | ||
| Q2 25 | 20.4% | 3.8% | ||
| Q1 25 | 19.1% | -0.6% | ||
| Q4 24 | 10.1% | 4.3% | ||
| Q3 24 | 19.5% | 7.9% | ||
| Q2 24 | 21.9% | 0.6% |
| Q1 26 | 12.5% | — | ||
| Q4 25 | 13.7% | 4.0% | ||
| Q3 25 | 14.0% | 2.1% | ||
| Q2 25 | 15.0% | 2.2% | ||
| Q1 25 | 14.2% | -1.7% | ||
| Q4 24 | 12.0% | 1.7% | ||
| Q3 24 | 13.3% | 2.5% | ||
| Q2 24 | 15.2% | 0.2% |
| Q1 26 | $0.85 | — | ||
| Q4 25 | $0.89 | $0.53 | ||
| Q3 25 | $0.94 | $0.28 | ||
| Q2 25 | $1.07 | $0.25 | ||
| Q1 25 | $0.95 | $-0.17 | ||
| Q4 24 | $0.75 | $0.19 | ||
| Q3 24 | $0.82 | $0.28 | ||
| Q2 24 | $1.06 | $0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $185.2M | $239.0M |
| Total DebtLower is stronger | $574.2M | $4.5B |
| Stockholders' EquityBook value | $1.9B | $1.3B |
| Total Assets | $3.7B | $11.5B |
| Debt / EquityLower = less leverage | 0.31× | 3.53× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $185.2M | — | ||
| Q4 25 | $193.2M | $239.0M | ||
| Q3 25 | $172.8M | $215.0M | ||
| Q2 25 | $177.9M | $269.0M | ||
| Q1 25 | $200.2M | $259.0M | ||
| Q4 24 | $276.1M | $328.0M | ||
| Q3 24 | $255.6M | $297.0M | ||
| Q2 24 | $233.3M | $328.0M |
| Q1 26 | $574.2M | — | ||
| Q4 25 | $155.0M | $4.5B | ||
| Q3 25 | — | $4.7B | ||
| Q2 25 | — | $4.6B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | $193.2M | $4.6B | ||
| Q3 24 | — | $5.0B | ||
| Q2 24 | — | $4.9B |
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $1.3B | ||
| Q3 25 | $1.8B | $1.4B | ||
| Q2 25 | $1.8B | $1.5B | ||
| Q1 25 | $1.9B | $1.6B | ||
| Q4 24 | $1.9B | $1.8B | ||
| Q3 24 | $1.9B | $1.8B | ||
| Q2 24 | $1.9B | $1.9B |
| Q1 26 | $3.7B | — | ||
| Q4 25 | $3.1B | $11.5B | ||
| Q3 25 | $3.2B | $11.7B | ||
| Q2 25 | $3.2B | $11.7B | ||
| Q1 25 | $3.3B | $11.8B | ||
| Q4 24 | $3.2B | $11.4B | ||
| Q3 24 | $3.2B | $11.2B | ||
| Q2 24 | $3.2B | $11.5B |
| Q1 26 | 0.31× | — | ||
| Q4 25 | 0.08× | 3.53× | ||
| Q3 25 | — | 3.41× | ||
| Q2 25 | — | 3.07× | ||
| Q1 25 | — | 2.83× | ||
| Q4 24 | 0.10× | 2.63× | ||
| Q3 24 | — | 2.73× | ||
| Q2 24 | — | 2.55× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $167.0M |
| Free Cash FlowOCF − Capex | $118.9M | $147.0M |
| FCF MarginFCF / Revenue | 12.6% | 12.3% |
| Capex IntensityCapex / Revenue | 1.1% | 1.7% |
| Cash ConversionOCF / Net Profit | — | 3.48× |
| TTM Free Cash FlowTrailing 4 quarters | $647.5M | $230.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $183.1M | $167.0M | ||
| Q3 25 | $255.4M | $34.0M | ||
| Q2 25 | $139.6M | $61.0M | ||
| Q1 25 | $38.7M | $38.0M | ||
| Q4 24 | $221.9M | $105.0M | ||
| Q3 24 | $195.9M | $91.0M | ||
| Q2 24 | $57.4M | $113.0M |
| Q1 26 | $118.9M | — | ||
| Q4 25 | $165.5M | $147.0M | ||
| Q3 25 | $240.6M | $13.0M | ||
| Q2 25 | $122.5M | $46.0M | ||
| Q1 25 | $17.4M | $24.0M | ||
| Q4 24 | $191.3M | $90.0M | ||
| Q3 24 | $163.4M | $81.0M | ||
| Q2 24 | $34.5M | $106.0M |
| Q1 26 | 12.6% | — | ||
| Q4 25 | 18.1% | 12.3% | ||
| Q3 25 | 25.5% | 1.1% | ||
| Q2 25 | 12.1% | 4.0% | ||
| Q1 25 | 1.8% | 2.4% | ||
| Q4 24 | 21.0% | 7.8% | ||
| Q3 24 | 18.1% | 6.9% | ||
| Q2 24 | 3.4% | 9.6% |
| Q1 26 | 1.1% | — | ||
| Q4 25 | 1.9% | 1.7% | ||
| Q3 25 | 1.6% | 1.8% | ||
| Q2 25 | 1.7% | 1.3% | ||
| Q1 25 | 2.2% | 1.4% | ||
| Q4 24 | 3.4% | 1.3% | ||
| Q3 24 | 3.6% | 0.9% | ||
| Q2 24 | 2.2% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.46× | 3.48× | ||
| Q3 25 | 1.93× | 1.36× | ||
| Q2 25 | 0.92× | 2.44× | ||
| Q1 25 | 0.28× | — | ||
| Q4 24 | 2.02× | 5.25× | ||
| Q3 24 | 1.63× | 3.14× | ||
| Q2 24 | 0.37× | 56.50× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AOS
Segment breakdown not available.
HGV
| Sales Of Vacation Ownership Intervals Net | $492.0M | 41% |
| Fee For Services Commissions Package Sales And Other Fees | $169.0M | 14% |
| Cost Reimbursements | $141.0M | 12% |
| Resort Management | $118.0M | 10% |
| Other | $116.0M | 10% |
| Club Management | $101.0M | 8% |
| Related Party | $42.0M | 4% |
| Ancillary Services | $13.0M | 1% |
