Marriott International (MAR) Financials

$223.49 -1.73 (-0.77%)

As of 04:00 PM Eastern

Annual Income Statements for Marriott International

This table shows Marriott International's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	859	808	1,459	1,907	1,273	-267	1,099	2,358	3,143	2,452
Consolidated Net Income / (Loss)	859	808	1,459	1,907	1,273	-267	1,099	2,358	3,083	2,375
Net Income / (Loss) Continuing Operations	859	808	1,459	1,907	1,273	-267	1,099	2,358	3,143	2,452
Total Pre-Tax Income	1,255	1,239	2,982	2,345	1,599	-466	1,180	3,114	3,378	3,151
Total Operating Income	1,350	1,424	2,504	2,366	1,800	84	1,750	3,462	3,864	3,767
Total Gross Profit	13,753	2,672	3,813	3,674	3,217	1,459	2,801	4,558	5,124	5,101
Total Revenue	14,486	15,407	20,452	20,758	20,972	10,571	13,857	20,773	23,713	25,100
Operating Revenue	14,486	15,407	20,452	20,758	20,972	10,571	13,857	20,773	23,713	25,100
Total Cost of Revenue	733	12,735	16,639	17,084	17,755	9,112	11,056	16,215	18,589	19,999
Operating Cost of Revenue	733	12,735	16,639	17,084	17,755	9,112	11,056	16,215	18,589	19,999
Total Operating Expenses	12,403	1,248	1,309	1,308	1,417	1,375	1,051	1,084	1,200	1,257
Selling, General & Admin Expense	634	743	921	927	938	762	823	891	1,011	1,074
Depreciation Expense	139	119	229	226	341	346	220	193	189	183
Total Other Income / (Expense), net	-95	-185	478	-21	-201	-550	-570	-348	-486	-616
Interest Expense	167	234	288	340	394	445	584	403	565	695
Interest & Investment Income	45	44	78	125	39	-114	4.00	44	39	48
Other Income / (Expense), net	27	5.00	688	194	154	9.00	10	11	40	31
Income Tax Expense	396	431	1,523	438	326	-199	81	756	295	776
Basic Earnings per Share	$3.22	$2.78	$3.89	$5.45	$3.83	($0.82)	$3.36	$7.27	$10.23	$8.36
Weighted Average Basic Shares Outstanding	267.30M	290.90M	375.20M	339.67M	324.21M	324.41M	326.31M	308.12M	289.49M	275.70M
Diluted Earnings per Share	$3.15	$2.73	$3.84	$5.38	$3.80	($0.82)	$3.34	$7.24	$10.18	$8.33
Weighted Average Diluted Shares Outstanding	267.30M	290.90M	375.20M	339.67M	324.21M	324.41M	326.31M	308.12M	289.49M	275.70M
Weighted Average Basic & Diluted Shares Outstanding	267.30M	290.90M	375.20M	339.67M	324.21M	324.41M	326.31M	308.12M	289.49M	275.70M
Cash Dividends to Common per Share	-	-	$1.29	$1.56	$1.85	$0.48	-	$1.00	$1.96	$2.41

This table shows Marriott International's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	630	692	757	866	765	755	564	945	584	359
Consolidated Net Income / (Loss)	630	673	757	726	752	848	564	772	584	455
Net Income / (Loss) Continuing Operations	630	692	757	866	765	755	564	945	584	359
Total Pre-Tax Income	869	891	844	964	989	581	727	1,040	786	598
Total Operating Income	958	996	951	1,096	1,099	718	876	1,195	944	752
Total Gross Profit	1,226	1,279	1,198	1,422	1,397	1,107	1,190	1,498	1,274	1,139
Total Revenue	5,313	5,923	5,615	6,075	5,928	6,095	5,977	6,439	6,255	6,429
Operating Revenue	5,313	5,923	5,615	6,075	5,928	6,095	5,977	6,439	6,255	6,429
Total Cost of Revenue	4,087	4,644	4,417	4,653	4,531	4,988	4,787	4,941	4,981	5,290
Operating Cost of Revenue	4,087	4,644	4,417	4,653	4,531	4,988	4,787	4,941	4,981	5,290
Total Operating Expenses	268	252	247	326	285	342	314	303	321	319
Selling, General & Admin Expense	216	236	202	240	239	330	261	248	276	289
Depreciation Expense	50	46	44	48	46	51	45	47	45	46
Total Other Income / (Expense), net	-89	-105	-107	8.00	-110	-277	-149	18	-158	-327
Interest & Investment Income	8.00	8.00	16	6.00	8.00	9.00	10	14	14	10
Other Income / (Expense), net	3.00	2.00	3.00	2.00	28	7.00	4.00	4.00	7.00	16
Income Tax Expense	239	218	87	238	237	-267	163	268	202	143
Basic Earnings per Share	$1.94	$2.12	$2.44	$2.39	$2.52	$2.88	$1.94	$2.70	$2.08	$1.64
Weighted Average Basic Shares Outstanding	316.54M	308.12M	303.35M	298.24M	293.69M	289.49M	285.62M	281.52M	277.89M	275.70M
Diluted Earnings per Share	$1.94	$2.10	$2.43	$2.38	$2.51	$2.86	$1.93	$2.69	$2.07	$1.64
Weighted Average Diluted Shares Outstanding	316.54M	308.12M	303.35M	298.24M	293.69M	289.49M	285.62M	281.52M	277.89M	275.70M
Weighted Average Basic & Diluted Shares Outstanding	316.54M	308.12M	303.35M	298.24M	293.69M	289.49M	285.62M	281.52M	277.89M	275.70M
Cash Dividends to Common per Share	$0.30	-	$0.40	$0.52	$0.52	$0.52	$0.52	$0.63	$0.63	$0.63

This table details how cash moves in and out of Marriott International's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-8.00	770	-458	-69	-107	641	527	-896	-159	59
Net Cash From Operating Activities	1,515	1,619	2,227	2,357	1,685	1,639	1,177	2,363	3,170	2,749
Net Cash From Continuing Operating Activities	1,515	1,619	2,227	2,357	1,685	1,639	1,187	2,363	3,170	2,749
Net Income / (Loss) Continuing Operations	859	808	1,459	1,907	1,273	-267	1,099	2,358	3,083	2,375
Consolidated Net Income / (Loss)	859	808	1,459	1,907	1,273	-267	1,099	2,358	3,083	2,375
Depreciation Expense	139	159	279	284	403	478	295	400	436	492
Non-Cash Adjustments To Reconcile Net Income	190	564	340	59	-285	288	-63	-346	-211	-636
Changes in Operating Assets and Liabilities, net	327	88	149	107	294	1,140	-144	-49	-138	518
Net Cash From Investing Activities	367	-2,346	1,211	-52	-284	35	-187	-297	-465	-734
Net Cash From Continuing Investing Activities	367	-2,346	1,211	-52	-284	35	-187	-297	-465	-734
Purchase of Property, Plant & Equipment	-305	-199	-240	-556	-653	-135	-183	-332	-452	-750
Acquisitions	-258	-2,392	-	-	-	-	-	0.00	-101	-26
Sale of Property, Plant & Equipment	765	278	1,605	527	446	268	52	15	132	52
Other Investing Activities, net	44	-33	-154	-23	-77	-98	-56	20	-44	-10
Net Cash From Financing Activities	-1,890	1,497	-3,896	-2,374	-1,508	-1,033	-463	-2,962	-2,864	-1,956
Net Cash From Continuing Financing Activities	-1,890	1,497	-3,896	-2,374	-1,508	-1,033	-463	-2,962	-2,864	-1,956
Repayment of Debt	-465	-350	-310	-526	-843	-1,895	-2,318	-969	-163	-395
Repurchase of Common Equity	-1,917	-568	-3,013	-2,850	-2,260	-150	0.00	-2,566	-3,953	-3,762
Payment of Dividends	-253	-374	-482	-543	-612	-156	0.00	-321	-587	-682
Issuance of Debt	790	2,855	60	1,646	2,348	1,271	1,943	983	1,918	2,948
Issuance of Common Equity	40	34	6.00	4.00	7.00	0.00	2.00	0.00	29	73
Other Financing Activities, net	-85	-100	-157	-105	-148	-103	-90	-89	-108	-138

This table details how cash moves in and out of Marriott International's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	501	-543	46	8.00	164	-377	82	-78	46	9.00
Net Cash From Operating Activities	874	441	887	651	881	751	779	772	880	318
Net Cash From Continuing Operating Activities	884	424	887	651	881	751	779	772	880	318
Net Income / (Loss) Continuing Operations	630	673	757	726	752	848	564	772	584	455
Consolidated Net Income / (Loss)	630	673	757	726	752	848	564	772	584	455
Depreciation Expense	72	188	65	70	69	232	68	74	71	279
Non-Cash Adjustments To Reconcile Net Income	126	-369	-2.00	-58	-24	-127	28	19	1.00	-684
Changes in Operating Assets and Liabilities, net	56	-68	67	-87	84	-202	119	-93	224	268
Net Cash From Investing Activities	-46	-160	-59	-184	-120	-102	-95	-130	-164	-345
Net Cash From Continuing Investing Activities	-46	-160	-59	-184	-120	-102	-95	-130	-164	-345
Purchase of Property, Plant & Equipment	-73	-140	-95	-99	-124	-134	-109	-125	-174	-342
Acquisitions	-	-	-	-	-	1.00	-	-	-	-26
Sale of Property, Plant & Equipment	3.00	3.00	31	2.00	63	36	9.00	-	5.00	38
Other Investing Activities, net	24	-23	5.00	15	-59	-5.00	5.00	-5.00	5.00	-15
Net Cash From Financing Activities	-327	-824	-782	-459	-597	-1,026	-602	-720	-670	36
Net Cash From Continuing Financing Activities	-327	-824	-782	-459	-597	-1,026	-602	-720	-670	36
Repayment of Debt	23	-416	-234	616	-639	94	-687	475	-992	809
Repurchase of Common Equity	-935	-1,331	-1,135	-911	-942	-965	-1,144	-1,012	-1,020	-586
Payment of Dividends	-97	-126	-124	-157	-154	-152	-151	-179	-176	-176
Other Financing Activities, net	-1.00	-1.00	-72	-7.00	-26	-3.00	-121	-4.00	-2.00	-11

This table presents Marriott International's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	6,082	24,140	23,846	23,696	25,051	24,701	25,553	24,815	25,674	26,182
Total Current Assets	1,384	3,371	2,740	2,706	3,127	2,825	3,626	3,313	3,311	3,485
Cash & Equivalents	96	858	383	316	225	877	1,393	507	338	396
Note & Lease Receivable	1,103	1,695	1,973	2,133	2,395	1,768	1,982	2,571	2,712	2,795
Prepaid Expenses	77	230	235	249	252	180	251	235	261	294
Plant, Property, & Equipment, net	1,029	2,335	1,793	1,956	1,904	1,514	1,503	1,585	1,581	1,833
Total Noncurrent Assets	3,669	18,434	19,313	19,034	20,020	20,362	20,424	19,917	20,782	20,864
Long-Term Investments	165	728	734	732	577	422	387	335	308	298
Noncurrent Note & Lease Receivables	215	245	142	125	117	159	144	152	138	136
Goodwill	943	7,598	9,207	9,039	9,048	9,175	9,073	8,872	8,886	8,731
Intangible Assets	1,451	9,270	8,544	-	8,641	8,989	8,926	8,747	9,190	9,488
Noncurrent Deferred & Refundable Income Taxes	672	116	93	171	154	249	228	240	673	650
Other Noncurrent Operating Assets	223	477	593	8,967	1,483	1,368	1,666	1,571	1,587	1,561
Total Liabilities & Shareholders' Equity	6,082	24,140	23,846	23,696	25,051	24,701	25,553	24,815	25,674	26,182
Total Liabilities	9,672	18,783	20,264	21,471	24,348	24,271	24,139	24,247	26,356	29,174
Total Current Liabilities	3,233	5,147	5,807	6,437	6,677	5,752	6,407	7,339	7,762	8,649
Short-Term Debt	300	309	398	833	977	1,173	805	684	553	1,309
Accounts Payable	593	687	783	767	720	527	726	746	738	763
Current Deferred Revenue	-	-	-	2,529	2,258	1,769	-	3,314	3,328	3,487
Current Employee Benefit Liabilities	861	1,174	1,214	1,345	1,339	831	1,187	1,299	1,390	1,449
Other Current Liabilities	527	1,111	3,412	963	1,383	1,452	3,689	1,296	1,753	1,641
Total Noncurrent Liabilities	6,439	13,636	14,457	15,034	17,671	18,519	17,732	16,908	18,594	20,525
Long-Term Debt	3,807	8,197	7,840	8,514	9,963	9,203	9,333	9,380	11,320	13,138
Noncurrent Deferred Revenue	1,622	2,675	-	3,663	4,300	6,044	-	4,339	4,696	5,135
Noncurrent Deferred & Payable Income Tax Liabilities	16	1,020	605	485	290	83	169	313	209	81
Other Noncurrent Operating Liabilities	994	1,744	6,012	2,372	3,118	3,189	8,230	2,876	2,369	2,171
Total Equity & Noncontrolling Interests	-3,590	5,357	3,582	2,225	703	430	1,414	568	-682	-2,992
Total Preferred & Common Equity	-3,590	5,357	3,582	2,225	703	430	1,414	568	-682	-2,992
Total Common Equity	-3,590	5,357	3,582	2,225	703	430	1,414	568	-682	-2,992
Common Stock	2,826	5,813	5,775	5,819	5,805	5,856	5,897	5,970	6,056	6,184
Retained Earnings	4,878	6,501	7,242	8,982	9,644	9,206	10,305	12,342	14,838	16,531
Accumulated Other Comprehensive Income / (Loss)	-196	-497	-17	-391	-361	-135	-342	-729	-647	-1,063
Other Equity Adjustments	-	-	-	-	-	-	-14,446	-17,015	-20,929	-24,644

This table presents Marriott International's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	24,763	24,815	24,863	25,087	25,267	25,674	25,756	25,740	26,209	26,182
Total Current Assets	3,684	3,313	3,264	3,444	3,682	3,311	3,450	3,500	3,573	3,485
Cash & Equivalents	1,045	507	554	563	717	338	429	349	394	396
Note & Lease Receivable	2,378	2,571	2,462	2,565	2,703	2,712	2,747	2,847	2,920	2,795
Prepaid Expenses	261	235	248	316	262	261	274	304	259	294
Plant, Property, & Equipment, net	1,509	1,585	1,595	1,560	1,572	1,581	1,570	1,558	1,624	1,833
Total Noncurrent Assets	19,570	19,917	20,004	20,083	20,013	20,782	20,736	20,682	21,012	20,864
Long-Term Investments	332	335	334	311	311	308	302	304	307	298
Noncurrent Note & Lease Receivables	132	152	126	140	159	138	136	146	144	136
Goodwill	8,765	8,872	8,904	8,850	8,795	8,886	8,815	8,783	8,890	8,731
Intangible Assets	8,607	8,747	8,832	8,995	8,993	9,190	9,252	9,263	9,497	9,488
Noncurrent Deferred & Refundable Income Taxes	228	240	240	240	240	673	673	644	629	650
Other Noncurrent Operating Assets	1,506	1,571	1,568	1,547	1,515	1,587	1,558	1,542	1,545	1,561
Total Liabilities & Shareholders' Equity	24,763	24,815	24,863	25,087	25,267	25,674	25,756	25,740	26,209	26,182
Total Liabilities	23,700	24,247	24,723	25,311	25,928	26,356	27,372	27,831	28,630	29,174
Total Current Liabilities	7,112	7,339	6,969	7,520	7,677	7,762	8,170	8,283	8,518	8,649
Short-Term Debt	558	684	358	894	898	553	910	960	960	1,309
Accounts Payable	746	746	722	670	696	738	793	826	807	763
Current Deferred Revenue	3,094	3,314	3,381	3,372	3,367	3,328	3,331	3,383	3,402	3,487
Current Employee Benefit Liabilities	1,260	1,299	1,027	1,092	1,229	1,390	1,079	1,136	1,288	1,449
Other Current Liabilities	1,454	1,296	1,481	1,492	1,487	1,753	2,057	1,978	2,061	1,641
Total Noncurrent Liabilities	16,588	16,908	17,754	17,791	18,251	18,594	19,202	19,548	20,112	20,525
Long-Term Debt	8,860	9,380	10,299	10,403	10,870	11,320	11,748	12,183	12,671	13,138
Noncurrent Deferred Revenue	4,637	4,339	4,413	4,452	4,434	4,696	4,906	4,994	5,033	5,135
Noncurrent Deferred & Payable Income Tax Liabilities	273	313	307	285	359	209	194	219	185	81
Other Noncurrent Operating Liabilities	2,818	2,876	2,735	2,651	2,588	2,369	2,354	2,152	2,223	2,171
Total Equity & Noncontrolling Interests	1,063	568	140	-224	-661	-682	-1,616	-2,091	-2,421	-2,992
Total Preferred & Common Equity	1,063	568	140	-224	-661	-682	-1,616	-2,091	-2,421	-2,992
Total Common Equity	1,063	568	140	-224	-661	-682	-1,616	-2,091	-2,421	-2,992
Common Stock	5,924	5,970	5,911	5,957	6,001	6,056	5,983	6,035	6,130	6,184
Retained Earnings	11,795	12,342	12,975	13,544	14,142	14,838	15,251	15,844	16,251	16,531
Accumulated Other Comprehensive Income / (Loss)	-990	-729	-647	-716	-849	-647	-794	-905	-714	-1,063
Other Equity Adjustments	-	-17,015	-18,099	-19,009	-19,955	-20,929	-22,056	-23,065	-24,088	-24,644

This table displays calculated financial ratios and metrics derived from Marriott International's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.00%	6.36%	32.74%	1.50%	1.03%	-49.59%	31.09%	49.91%	14.15%	5.85%
EBITDA Growth	15.29%	4.75%	118.58%	-18.06%	131.51%	-87.89%	259.89%	88.47%	12.06%	-1.15%
EBIT Growth	17.99%	3.78%	123.37%	-19.80%	105.31%	-97.62%	1,792.47%	97.33%	12.41%	-2.72%
NOPAT Growth	15.20%	0.50%	31.93%	57.05%	48.96%	-97.95%	2,671.89%	60.84%	34.52%	-19.49%
Net Income Growth	14.08%	-5.94%	80.57%	30.71%	-66.49%	-120.97%	511.61%	114.56%	30.75%	-22.96%
EPS Growth	24.02%	-13.33%	40.66%	40.10%	-58.74%	-121.58%	507.32%	116.77%	40.61%	-18.17%
Operating Cash Flow Growth	23.77%	6.86%	37.55%	5.84%	-57.02%	-2.73%	-28.19%	100.76%	34.15%	-13.28%
Free Cash Flow Firm Growth	111.03%	-702.63%	122.30%	-16.87%	-994.05%	175.25%	-88.36%	90.75%	6.45%	-5.35%
Invested Capital Growth	-82.38%	6,466.85%	-9.71%	-0.36%	1.33%	-55.10%	2.79%	0.18%	7.71%	2.05%
Revenue Q/Q Growth	1.03%	0.55%	7.63%	0.24%	0.79%	-23.23%	19.63%	7.65%	0.73%	1.35%
EBITDA Q/Q Growth	1.47%	15.41%	20.44%	-18.58%	219.02%	-52.10%	54.51%	13.95%	-5.01%	2.14%
EBIT Q/Q Growth	1.62%	14.60%	22.30%	-20.40%	197.36%	-85.17%	76.18%	11.53%	-6.54%	1.15%
NOPAT Q/Q Growth	1.86%	10.37%	-29.85%	44.67%	163.16%	-88.04%	12.45%	8.80%	7.98%	-13.88%
Net Income Q/Q Growth	0.59%	9.49%	-9.77%	11.91%	-5.80%	-251.70%	135.33%	9.52%	6.02%	-14.20%
EPS Q/Q Growth	2.94%	-3.87%	-8.13%	12.55%	-3.11%	-251.85%	135.21%	10.37%	8.07%	-12.77%
Operating Cash Flow Q/Q Growth	11.89%	-1.34%	2.91%	2.48%	-4.41%	-22.62%	54.66%	0.38%	10.84%	-13.61%
Free Cash Flow Firm Q/Q Growth	-7.68%	2.34%	13.77%	-18.58%	-2,436.27%	450.26%	40.35%	-10.36%	20.98%	-8.50%
Invested Capital Q/Q Growth	-42.02%	-2.46%	-9.45%	-0.57%	193.50%	4.22%	1.80%	7.54%	4.62%	2.40%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	94.94%	17.34%	18.64%	17.70%	30.68%	13.80%	20.21%	21.94%	21.61%	20.32%
EBITDA Margin	10.47%	10.31%	16.97%	13.70%	22.48%	5.40%	14.83%	18.64%	18.30%	17.09%
Operating Margin	9.32%	9.24%	12.24%	11.40%	17.17%	0.79%	12.63%	16.67%	16.29%	15.01%
EBIT Margin	9.51%	9.28%	15.61%	12.33%	18.63%	0.88%	12.70%	16.72%	16.46%	15.13%
Profit (Net Income) Margin	5.93%	5.24%	7.13%	9.19%	12.14%	-2.53%	7.93%	11.35%	13.00%	9.46%
Tax Burden Percent	68.45%	65.21%	48.93%	81.32%	159.22%	57.30%	93.14%	75.72%	91.27%	75.37%
Interest Burden Percent	91.14%	86.70%	93.42%	91.60%	163.66%	-501.08%	67.05%	89.66%	86.53%	82.96%
Effective Tax Rate	31.55%	34.79%	51.07%	18.68%	40.78%	0.00%	6.86%	24.28%	8.73%	24.63%
Return on Invested Capital (ROIC)	155.56%	15.65%	11.02%	18.26%	13.58%	0.38%	16.91%	26.80%	34.68%	26.65%
ROIC Less NNEP Spread (ROIC-NNEP)	153.70%	13.26%	14.53%	18.04%	23.64%	-1.88%	10.82%	23.80%	30.35%	22.94%
Return on Net Nonoperating Assets (RNNOA)	-185.23%	75.80%	21.63%	47.42%	146.74%	-47.75%	102.29%	211.14%	-5,443.46%	-155.94%
Return on Equity (ROE)	-29.67%	91.45%	32.64%	65.68%	173.91%	-47.37%	119.20%	237.94%	-5,408.77%	-129.29%
Cash Return on Invested Capital (CROIC)	295.63%	-178.35%	21.22%	18.62%	-147.66%	76.43%	14.16%	26.62%	27.26%	24.63%
Operating Return on Assets (OROA)	21.32%	9.46%	13.30%	10.77%	16.03%	0.37%	7.00%	13.79%	15.46%	14.65%
Return on Assets (ROA)	13.30%	5.35%	6.08%	8.02%	10.45%	-1.07%	4.37%	9.36%	12.21%	9.16%
Return on Common Equity (ROCE)	-29.67%	91.45%	32.64%	65.68%	173.91%	-47.37%	119.20%	237.94%	-5,408.77%	-129.29%
Return on Equity Simple (ROE_SIMPLE)	-23.93%	15.08%	81.46%	85.71%	362.16%	-62.09%	77.72%	415.14%	-452.05%	-79.38%
Net Operating Profit after Tax (NOPAT)	924	929	1,225	1,924	2,866	59	1,630	2,622	3,527	2,839
NOPAT Margin	6.38%	6.03%	5.99%	9.27%	13.67%	0.56%	11.76%	12.62%	14.87%	11.31%
Net Nonoperating Expense Percent (NNEP)	1.86%	2.39%	-3.52%	0.22%	3.52%	2.26%	6.09%	3.00%	4.34%	3.72%
Return On Investment Capital (ROIC_SIMPLE)	178.73%	6.70%	10.36%	16.63%	12.31%	0.54%	14.11%	24.66%	31.51%	24.79%
Cost of Revenue to Revenue	5.06%	82.66%	81.36%	82.30%	169.32%	86.20%	79.79%	78.06%	78.39%	79.68%
SG&A Expenses to Revenue	4.38%	4.82%	4.50%	4.47%	8.95%	7.21%	5.94%	4.29%	4.26%	4.28%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	85.62%	8.10%	6.40%	6.30%	13.51%	13.01%	7.58%	5.22%	5.06%	5.01%
Earnings before Interest and Taxes (EBIT)	1,377	1,429	3,192	2,560	3,908	93	1,760	3,473	3,904	3,798
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,516	1,588	3,471	2,844	4,714	571	2,055	3,873	4,340	4,290
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	5.61	13.02	15.88	138.17	96.68	36.98	81.12	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.09	1.95	2.28	1.70	4.63	3.93	3.77	2.22	2.76	3.08
Price to Earnings (P/E)	18.38	37.20	31.97	18.53	76.30	0.00	47.58	19.54	20.82	31.54
Dividend Yield	1.55%	1.49%	1.01%	1.51%	2.52%	1.50%	0.00%	0.69%	0.88%	0.87%
Earnings Yield	5.44%	2.69%	3.13%	5.40%	5.31%	0.00%	2.10%	5.12%	4.80%	3.17%
Enterprise Value to Invested Capital (EV/IC)	110.29	3.16	5.09	4.15	11.21	5.33	6.21	5.65	7.27	8.47
Enterprise Value to Revenue (EV/Rev)	1.36	2.40	2.63	2.10	5.60	4.79	4.38	2.66	3.23	3.63
Enterprise Value to EBITDA (EV/EBITDA)	12.95	23.28	15.49	15.34	49.81	88.70	29.51	14.28	17.66	21.23
Enterprise Value to EBIT (EV/EBIT)	14.26	25.87	16.84	17.04	60.09	544.62	34.46	15.92	19.64	23.99
Enterprise Value to NOPAT (EV/NOPAT)	21.25	39.81	43.89	22.68	82.84	861.39	37.21	21.09	21.74	32.08
Enterprise Value to Operating Cash Flow (EV/OCF)	12.96	22.84	24.14	18.51	34.45	30.90	51.53	23.40	24.18	33.14
Enterprise Value to Free Cash Flow (EV/FCFF)	11.18	0.00	22.78	22.24	0.00	4.32	44.43	21.24	27.66	34.73
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-1.14	1.59	2.30	4.20	31.12	24.13	7.17	17.72	-17.41	-4.83
Long-Term Debt to Equity	-1.06	1.53	2.19	3.83	28.34	21.40	6.60	16.51	-16.60	-4.39
Financial Leverage	-1.21	5.72	1.49	2.63	12.41	25.46	9.46	8.87	-179.38	-6.80
Leverage Ratio	-2.23	17.10	5.37	8.19	33.30	43.91	27.25	25.41	-442.89	-14.11
Compound Leverage Factor	-2.03	14.83	5.02	7.50	27.25	-220.03	18.27	22.79	-383.21	-11.71
Debt to Total Capital	794.39%	61.36%	69.70%	80.77%	187.92%	96.02%	87.76%	94.66%	106.09%	126.12%
Short-Term Debt to Total Capital	58.03%	2.23%	3.37%	7.20%	16.78%	10.86%	6.97%	6.43%	4.94%	11.43%
Long-Term Debt to Total Capital	736.36%	59.13%	66.33%	73.57%	171.14%	85.17%	80.79%	88.22%	101.15%	114.69%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-694.39%	38.64%	30.30%	19.23%	12.08%	3.98%	12.24%	5.34%	-6.09%	-26.12%
Debt to EBITDA	2.71	5.36	2.37	3.29	9.28	18.17	4.93	2.60	2.74	3.37
Net Debt to EBITDA	2.54	4.36	2.05	2.92	8.60	15.90	4.07	2.38	2.59	3.21
Long-Term Debt to EBITDA	2.51	5.16	2.26	2.99	8.45	16.12	4.54	2.42	2.61	3.06
Debt to NOPAT	4.44	9.16	6.72	4.86	15.27	176.46	6.22	3.84	3.37	5.09
Net Debt to NOPAT	4.16	7.45	5.81	4.31	14.15	154.37	5.13	3.52	3.18	4.84
Long-Term Debt to NOPAT	4.12	8.83	6.40	4.43	13.90	156.51	5.73	3.58	3.21	4.63
Altman Z-Score	4.87	2.08	2.95	2.56	5.35	1.85	2.50	2.94	3.52	3.68
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.43	0.65	0.47	0.42	0.94	0.49	0.57	0.45	0.43	0.40
Quick Ratio	0.37	0.50	0.41	0.38	0.78	0.46	0.53	0.42	0.39	0.37
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,756	-10,582	2,360	1,962	-15,580	11,724	1,365	2,604	2,772	2,623
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	8,127.59%	1,628.02%	0.00%	898.47%	745.43%	990.63%	393.84%
Free Cash Flow to Firm to Interest Expense	10.52	-45.22	8.19	5.77	-39.54	26.35	2.34	6.46	4.91	3.77
Operating Cash Flow to Interest Expense	9.07	6.92	7.73	6.93	8.55	3.68	2.02	5.86	5.61	3.96
Operating Cash Flow Less CapEx to Interest Expense	11.83	7.26	12.47	6.85	7.50	3.98	1.79	5.08	5.04	2.95
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.24	1.02	0.85	0.87	1.72	0.42	0.55	0.82	0.94	0.97
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	11.64	9.16	9.91	11.07	21.73	6.19	9.19	13.45	14.98	14.70
Accounts Payable Turnover	1.22	19.90	22.64	22.04	47.76	14.61	17.65	22.03	25.05	26.65
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	298.27	18.34	16.12	16.56	30.57	24.98	20.68	16.57	14.57	13.70
Cash Conversion Cycle (CCC)	-298.27	-18.34	-16.12	-16.56	-30.57	-24.98	-20.68	-16.57	-14.57	-13.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	178	11,689	10,554	10,516	21,172	9,507	9,772	9,790	10,545	10,761
Invested Capital Turnover	24.39	2.60	1.84	1.97	3.98	0.69	1.44	2.12	2.33	2.36
Increase / (Decrease) in Invested Capital	-832	11,511	-1,135	-38	21,312	-11,665	265	18	755	216
Enterprise Value (EV)	19,631	36,974	53,768	43,632	58,050	50,649	60,648	55,297	76,658	91,096
Market Capitalization	15,785	30,054	46,647	35,333	47,912	41,572	52,290	46,075	65,431	77,343
Book Value per Share	($13.96)	$13.72	$9.83	$6.52	$4.32	$1.33	$4.34	$1.79	($2.32)	($10.77)
Tangible Book Value per Share	($23.27)	($29.48)	($38.86)	($19.97)	($103.91)	($54.68)	($50.92)	($53.87)	($63.87)	($76.33)
Total Capital	517	13,863	11,820	11,572	23,286	10,806	11,552	10,632	11,191	11,455
Total Debt	4,107	8,506	8,238	9,347	21,880	10,376	10,138	10,064	11,873	14,447
Total Long-Term Debt	3,807	8,197	7,840	8,514	19,926	9,203	9,333	9,380	11,320	13,138
Net Debt	3,846	6,920	7,121	8,299	20,276	9,077	8,358	9,222	11,227	13,753
Capital Expenditures (CapEx)	-460	-79	-1,365	29	414	-133	131	317	320	698
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,645	-2,325	-3,052	-3,214	-5,596	-2,631	-3,369	-3,849	-4,236	-4,251
Debt-free Net Working Capital (DFNWC)	-1,549	-1,467	-2,669	-2,898	-5,146	-1,754	-1,976	-3,342	-3,898	-3,855
Net Working Capital (NWC)	-1,849	-1,776	-3,067	-3,731	-7,100	-2,927	-2,781	-4,026	-4,451	-5,164
Net Nonoperating Expense (NNE)	65	121	-234	17	320	326	531	264	444	464
Net Nonoperating Obligations (NNO)	3,768	6,332	6,972	8,291	19,766	9,077	8,358	9,222	11,227	13,753
Total Depreciation and Amortization (D&A)	139	159	279	284	806	478	295	400	436	492
Debt-free, Cash-free Net Working Capital to Revenue	-11.36%	-15.09%	-14.92%	-15.48%	-21.59%	-24.89%	-24.31%	-18.53%	-17.86%	-16.94%
Debt-free Net Working Capital to Revenue	-10.69%	-9.52%	-13.05%	-13.96%	-24.54%	-16.59%	-14.26%	-16.09%	-16.44%	-15.36%
Net Working Capital to Revenue	-12.76%	-11.53%	-15.00%	-17.97%	-33.85%	-27.69%	-20.07%	-19.38%	-18.77%	-20.57%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.22	$2.68	$3.66	$0.00	$7.66	($0.82)	$3.36	$7.27	$10.23	$8.36
Adjusted Weighted Average Basic Shares Outstanding	253.48M	383.56M	357.44M	0.00	324.21M	324.41M	326.31M	308.12M	289.49M	275.70M
Adjusted Diluted Earnings per Share	$3.15	$2.64	$3.61	$0.00	$7.60	($0.82)	$3.34	$7.24	$10.18	$8.33
Adjusted Weighted Average Diluted Shares Outstanding	253.48M	383.56M	357.44M	0.00	648.43M	324.41M	326.31M	308.12M	289.49M	275.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$3.83	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	253.48M	383.56M	357.44M	0.00	324.21M	324.41M	326.31M	308.12M	289.49M	275.70M
Normalized Net Operating Profit after Tax (NOPAT)	924	1,180	1,864	2,050	3,086	246	1,630	2,622	3,527	2,839
Normalized NOPAT Margin	6.38%	7.66%	9.11%	9.88%	14.71%	2.32%	11.76%	12.62%	14.87%	11.31%
Pre Tax Income Margin	8.66%	8.04%	14.58%	11.30%	15.25%	-4.41%	8.52%	14.99%	14.25%	12.55%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.25	6.11	11.08	7.53	9.92	0.21	3.01	8.62	6.91	5.46
NOPAT to Interest Expense	5.53	3.97	4.25	5.66	7.27	0.13	2.79	6.51	6.24	4.09
EBIT Less CapEx to Interest Expense	11.00	6.44	15.82	7.44	8.87	0.51	2.79	7.83	6.34	4.46
NOPAT Less CapEx to Interest Expense	8.29	4.31	8.99	5.57	6.22	0.43	2.57	5.72	5.68	3.08
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.45%	46.29%	33.04%	28.47%	96.15%	-58.43%	0.00%	13.61%	19.04%	28.72%
Augmented Payout Ratio	252.62%	116.58%	239.55%	177.92%	451.22%	-114.61%	0.00%	122.43%	147.26%	187.12%

This table displays calculated financial ratios and metrics derived from Marriott International's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	34.64%	33.22%	33.72%	13.81%	11.58%	2.90%	6.45%	5.99%	5.52%	5.48%
EBITDA Growth	63.97%	66.57%	60.73%	14.51%	15.78%	-19.31%	-6.97%	8.99%	-14.55%	9.40%
EBIT Growth	76.33%	56.18%	69.75%	15.34%	17.27%	-27.35%	-7.76%	9.20%	-15.62%	5.93%
NOPAT Growth	61.03%	38.73%	93.00%	12.52%	20.32%	39.30%	-20.33%	7.47%	-16.07%	-45.40%
Net Income Growth	186.36%	43.80%	100.80%	7.08%	19.37%	26.00%	-25.50%	6.34%	-22.34%	-46.34%
EPS Growth	189.55%	47.89%	113.16%	15.53%	29.38%	36.19%	-20.58%	13.03%	-17.53%	-42.66%
Operating Cash Flow Growth	41.20%	2.08%	122.86%	0.15%	0.80%	70.29%	-12.18%	18.59%	-0.11%	-57.66%
Free Cash Flow Firm Growth	2,702.61%	164.81%	9,741.83%	-72.14%	-111.72%	-60.10%	-64.50%	147.67%	294.74%	21.58%
Invested Capital Growth	-5.16%	0.18%	0.72%	5.68%	10.71%	7.71%	4.06%	1.96%	4.27%	2.05%
Revenue Q/Q Growth	-0.47%	11.48%	-5.20%	8.19%	-2.42%	2.82%	-1.94%	7.73%	-2.86%	2.78%
EBITDA Q/Q Growth	1.27%	14.81%	-14.08%	14.62%	2.40%	-19.98%	-0.94%	34.28%	-19.72%	2.45%
EBIT Q/Q Growth	0.95%	3.85%	-4.41%	15.09%	2.64%	-35.67%	21.38%	36.25%	-20.68%	-19.24%
NOPAT Q/Q Growth	-5.33%	8.32%	13.38%	-3.23%	1.24%	25.41%	-35.15%	30.53%	-20.93%	-18.42%
Net Income Q/Q Growth	-7.08%	6.83%	12.48%	-4.10%	3.58%	12.77%	-33.49%	36.88%	-24.35%	-22.09%
EPS Q/Q Growth	-5.83%	8.25%	15.71%	-2.06%	5.46%	13.94%	-32.52%	39.38%	-23.05%	-20.77%
Operating Cash Flow Q/Q Growth	34.46%	-49.54%	101.13%	-26.61%	35.33%	-14.76%	3.73%	-0.90%	13.99%	-63.86%
Free Cash Flow Firm Q/Q Growth	19.48%	-38.27%	6.49%	-64.52%	-150.24%	310.22%	-5.25%	147.51%	-60.50%	31.24%
Invested Capital Q/Q Growth	-5.67%	7.54%	1.22%	2.93%	-1.18%	4.62%	-2.22%	0.85%	1.06%	2.40%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	23.08%	21.59%	21.34%	23.41%	23.57%	18.16%	19.91%	23.26%	20.37%	17.72%
EBITDA Margin	19.44%	20.02%	18.15%	19.23%	20.18%	15.70%	15.86%	19.77%	16.34%	16.29%
Operating Margin	18.03%	16.82%	16.94%	18.04%	18.54%	11.78%	14.66%	18.56%	15.09%	11.70%
EBIT Margin	18.09%	16.85%	16.99%	18.07%	19.01%	11.90%	14.72%	18.62%	15.20%	11.95%
Profit (Net Income) Margin	11.86%	11.36%	13.48%	11.95%	12.69%	13.91%	9.44%	11.99%	9.34%	7.08%
Tax Burden Percent	72.50%	75.53%	89.69%	75.31%	76.04%	145.96%	77.58%	74.23%	74.30%	76.09%
Interest Burden Percent	90.43%	89.28%	88.47%	87.80%	87.76%	80.14%	82.61%	86.74%	82.65%	77.86%
Effective Tax Rate	27.50%	24.47%	10.31%	24.69%	23.96%	-45.96%	22.42%	25.77%	25.70%	23.91%
Return on Invested Capital (ROIC)	26.97%	26.98%	34.14%	31.39%	34.60%	40.10%	27.08%	32.69%	26.98%	20.97%
ROIC Less NNEP Spread (ROIC-NNEP)	26.20%	26.07%	33.06%	30.30%	33.71%	38.14%	26.01%	31.69%	25.99%	20.03%
Return on Net Nonoperating Assets (RNNOA)	221.17%	231.27%	308.41%	358.22%	1,574.76%	-6,842.19%	-382.33%	-313.62%	-199.57%	-136.20%
Return on Equity (ROE)	248.15%	258.24%	342.55%	389.61%	1,609.36%	-6,802.09%	-355.25%	-280.93%	-172.60%	-115.23%
Cash Return on Invested Capital (CROIC)	31.06%	26.62%	29.98%	25.96%	23.89%	27.26%	29.24%	31.27%	27.85%	24.63%
Operating Return on Assets (OROA)	14.17%	13.90%	15.05%	16.67%	17.89%	11.17%	14.01%	17.91%	14.63%	11.56%
Return on Assets (ROA)	9.29%	9.37%	11.94%	11.02%	11.94%	13.07%	8.98%	11.53%	8.98%	6.85%
Return on Common Equity (ROCE)	248.15%	258.24%	342.55%	389.61%	1,609.36%	-6,802.09%	-355.25%	-280.93%	-172.60%	-115.23%
Return on Equity Simple (ROE_SIMPLE)	202.54%	0.00%	1,955.71%	-1,243.75%	-439.94%	0.00%	-178.84%	-140.41%	-114.33%	0.00%
Net Operating Profit after Tax (NOPAT)	695	752	853	825	836	1,048	680	887	701	572
NOPAT Margin	13.07%	12.70%	15.19%	13.59%	14.10%	17.19%	11.37%	13.78%	11.21%	8.90%
Net Nonoperating Expense Percent (NNEP)	0.77%	0.90%	1.08%	1.09%	0.89%	1.96%	1.07%	1.00%	0.99%	0.94%
Return On Investment Capital (ROIC_SIMPLE)	6.63%	7.08%	7.90%	7.45%	7.52%	9.36%	6.15%	8.03%	6.26%	5.00%
Cost of Revenue to Revenue	76.92%	78.41%	78.66%	76.59%	76.43%	81.84%	80.09%	76.74%	79.63%	82.28%
SG&A Expenses to Revenue	4.07%	3.98%	3.60%	3.95%	4.03%	5.41%	4.37%	3.85%	4.41%	4.50%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	5.04%	4.25%	4.40%	5.37%	4.81%	5.61%	5.25%	4.71%	5.13%	4.96%
Earnings before Interest and Taxes (EBIT)	961	998	954	1,098	1,127	725	880	1,199	951	768
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,033	1,186	1,019	1,168	1,196	957	948	1,273	1,022	1,047
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	41.73	81.12	358.09	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.30	2.22	2.26	2.39	2.45	2.76	3.05	2.81	2.81	3.08
Price to Earnings (P/E)	20.78	19.54	18.31	18.60	18.76	20.82	24.87	22.63	24.46	31.54
Dividend Yield	0.44%	0.69%	0.86%	0.90%	0.95%	0.88%	0.83%	0.91%	0.93%	0.87%
Earnings Yield	4.81%	5.12%	5.46%	5.38%	5.33%	4.80%	4.02%	4.42%	4.09%	3.17%
Enterprise Value to Invested Capital (EV/IC)	5.76	5.65	6.05	6.39	6.80	7.27	8.27	7.79	7.86	8.47
Enterprise Value to Revenue (EV/Rev)	2.72	2.66	2.70	2.84	2.91	3.23	3.54	3.32	3.34	3.63
Enterprise Value to EBITDA (EV/EBITDA)	15.41	14.28	14.07	14.80	14.99	17.66	19.98	18.53	19.67	21.23
Enterprise Value to EBIT (EV/EBIT)	16.83	15.92	15.50	16.25	16.40	19.64	22.27	20.62	22.00	23.99
Enterprise Value to NOPAT (EV/NOPAT)	21.75	21.09	19.76	20.87	20.98	21.74	25.40	23.69	25.05	32.08
Enterprise Value to Operating Cash Flow (EV/OCF)	22.26	23.40	21.00	22.85	23.95	24.18	27.85	25.46	25.96	33.14
Enterprise Value to Free Cash Flow (EV/FCFF)	18.04	21.24	20.24	25.31	29.90	27.66	28.85	25.16	28.81	34.73
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	8.86	17.72	76.12	-50.43	-17.80	-17.41	-7.83	-6.29	-5.63	-4.83
Long-Term Debt to Equity	8.33	16.51	73.56	-46.44	-16.44	-16.60	-7.27	-5.83	-5.23	-4.39
Financial Leverage	8.44	8.87	9.33	11.82	46.72	-179.38	-14.70	-9.90	-7.68	-6.80
Leverage Ratio	24.87	25.41	26.20	32.11	124.45	-442.89	-34.29	-21.96	-16.70	-14.11
Compound Leverage Factor	22.49	22.69	23.18	28.19	109.21	-354.92	-28.33	-19.04	-13.80	-10.99
Debt to Total Capital	89.86%	94.66%	98.70%	102.02%	105.95%	106.09%	114.64%	118.92%	121.60%	126.12%
Short-Term Debt to Total Capital	5.32%	6.43%	3.32%	8.07%	8.09%	4.94%	8.24%	8.69%	8.56%	11.43%
Long-Term Debt to Total Capital	84.53%	88.22%	95.39%	93.95%	97.87%	101.15%	106.39%	110.23%	113.03%	114.69%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	10.14%	5.34%	1.30%	-2.02%	-5.95%	-6.09%	-14.64%	-18.92%	-21.60%	-26.12%
Debt to EBITDA	2.77	2.60	2.50	2.56	2.58	2.74	2.97	3.00	3.25	3.37
Net Debt to EBITDA	2.37	2.38	2.29	2.37	2.35	2.59	2.79	2.86	3.08	3.21
Long-Term Debt to EBITDA	2.61	2.42	2.42	2.36	2.38	2.61	2.75	2.79	3.02	3.06
Debt to NOPAT	3.91	3.84	3.52	3.62	3.60	3.37	3.77	3.84	4.13	5.09
Net Debt to NOPAT	3.34	3.52	3.22	3.34	3.29	3.18	3.55	3.65	3.92	4.84
Long-Term Debt to NOPAT	3.68	3.58	3.40	3.33	3.33	3.21	3.50	3.56	3.84	4.63
Altman Z-Score	2.53	2.61	2.79	2.92	3.01	3.11	3.26	3.22	3.17	3.29
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.52	0.45	0.47	0.46	0.48	0.43	0.42	0.42	0.42	0.40
Quick Ratio	0.48	0.42	0.43	0.42	0.45	0.39	0.39	0.39	0.39	0.37
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,190	734	782	277	-139	293	278	687	271	356
Operating Cash Flow to CapEx	1,248.57%	321.90%	1,385.94%	671.13%	1,444.26%	766.33%	779.00%	617.60%	520.71%	104.61%
Free Cash Flow to Firm to Interest Expense	11.90	6.39	6.21	0.00	-0.95	0.00	1.70	0.00	1.52	0.00
Operating Cash Flow to Interest Expense	8.74	3.83	7.04	0.00	6.03	0.00	4.78	0.00	4.92	0.00
Operating Cash Flow Less CapEx to Interest Expense	8.04	2.64	6.53	0.00	5.62	0.00	4.17	0.00	3.97	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.78	0.82	0.89	0.92	0.94	0.94	0.95	0.96	0.96	0.97
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	12.84	13.45	14.20	14.83	15.28	14.98	15.21	15.68	15.50	14.70
Accounts Payable Turnover	20.75	22.03	23.65	24.67	25.31	25.05	25.03	25.73	26.21	26.65
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	17.59	16.57	15.43	14.79	14.42	14.57	14.58	14.19	13.93	13.70
Cash Conversion Cycle (CCC)	-17.59	-16.57	-15.43	-14.79	-14.42	-14.57	-14.58	-14.19	-13.93	-13.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	9,104	9,790	9,909	10,199	10,079	10,545	10,311	10,399	10,509	10,761
Invested Capital Turnover	2.06	2.12	2.25	2.31	2.45	2.33	2.38	2.37	2.41	2.36
Increase / (Decrease) in Invested Capital	-495	18	71	548	975	755	402	200	430	216
Enterprise Value (EV)	52,395	55,297	59,902	65,197	68,509	76,658	85,291	81,041	82,603	91,096
Market Capitalization	44,354	46,075	50,133	54,774	57,769	65,431	73,364	68,551	69,673	77,343
Book Value per Share	$3.28	$1.79	$0.45	($0.74)	($2.22)	($2.32)	($5.66)	($7.32)	($8.60)	($10.77)
Tangible Book Value per Share	($50.25)	($53.87)	($57.11)	($59.56)	($61.86)	($63.87)	($68.91)	($70.50)	($73.91)	($76.33)
Total Capital	10,481	10,632	10,797	11,073	11,107	11,191	11,042	11,052	11,210	11,455
Total Debt	9,418	10,064	10,657	11,297	11,768	11,873	12,658	13,143	13,631	14,447
Total Long-Term Debt	8,860	9,380	10,299	10,403	10,870	11,320	11,748	12,183	12,671	13,138
Net Debt	8,041	9,222	9,769	10,423	10,740	11,227	11,927	12,490	12,930	13,753
Capital Expenditures (CapEx)	70	137	64	97	61	98	100	125	169	304
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-3,915	-3,849	-3,901	-3,745	-3,814	-4,236	-4,239	-4,172	-4,379	-4,251
Debt-free Net Working Capital (DFNWC)	-2,870	-3,342	-3,347	-3,182	-3,097	-3,898	-3,810	-3,823	-3,985	-3,855
Net Working Capital (NWC)	-3,428	-4,026	-3,705	-4,076	-3,995	-4,451	-4,720	-4,783	-4,945	-5,164
Net Nonoperating Expense (NNE)	65	79	96	99	84	200	116	115	117	117
Net Nonoperating Obligations (NNO)	8,041	9,222	9,769	10,423	10,740	11,227	11,927	12,490	12,930	13,753
Total Depreciation and Amortization (D&A)	72	188	65	70	69	232	68	74	71	279
Debt-free, Cash-free Net Working Capital to Revenue	-20.29%	-18.53%	-17.58%	-16.34%	-16.20%	-17.86%	-17.61%	-17.07%	-17.68%	-16.94%
Debt-free Net Working Capital to Revenue	-14.87%	-16.09%	-15.08%	-13.88%	-13.16%	-16.44%	-15.83%	-15.64%	-16.09%	-15.36%
Net Working Capital to Revenue	-17.77%	-19.38%	-16.70%	-17.78%	-16.97%	-18.77%	-19.61%	-19.57%	-19.97%	-20.57%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.94	$2.12	$2.44	$2.39	$2.52	$2.88	$1.94	$2.70	$2.08	$1.64
Adjusted Weighted Average Basic Shares Outstanding	316.54M	308.12M	303.35M	298.24M	293.69M	289.49M	285.62M	281.52M	277.89M	275.70M
Adjusted Diluted Earnings per Share	$1.94	$2.10	$2.43	$2.38	$2.51	$2.86	$1.93	$2.69	$2.07	$1.64
Adjusted Weighted Average Diluted Shares Outstanding	316.54M	308.12M	303.35M	298.24M	293.69M	289.49M	285.62M	281.52M	277.89M	275.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	316.54M	308.12M	303.35M	298.24M	293.69M	289.49M	285.62M	281.52M	277.89M	275.70M
Normalized Net Operating Profit after Tax (NOPAT)	695	752	853	825	836	503	680	887	701	572
Normalized NOPAT Margin	13.07%	12.70%	15.19%	13.59%	14.10%	8.25%	11.37%	13.78%	11.21%	8.90%
Pre Tax Income Margin	16.36%	15.04%	15.03%	15.87%	16.68%	9.53%	12.16%	16.15%	12.57%	9.30%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.61	8.68	7.57	0.00	7.72	0.00	5.40	0.00	5.31	0.00
NOPAT to Interest Expense	6.95	6.54	6.77	0.00	5.72	0.00	4.17	0.00	3.92	0.00
EBIT Less CapEx to Interest Expense	8.91	7.49	7.06	0.00	7.30	0.00	4.79	0.00	4.37	0.00
NOPAT Less CapEx to Interest Expense	6.25	5.35	6.26	0.00	5.31	0.00	3.56	0.00	2.97	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	9.06%	13.61%	16.25%	18.09%	19.29%	19.04%	21.25%	21.66%	23.77%	28.72%
Augmented Payout Ratio	66.42%	122.43%	151.42%	172.86%	167.81%	147.26%	158.34%	160.05%	173.37%	187.12%

Frequently Asked Questions About Marriott International's Financials

When does Marriott International's financial year end?

According to the most recent income statement we have on file, Marriott International's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Marriott International's net income changed over the last 9 years?

Marriott International's net income appears to be on an upward trend, with a most recent value of $2.38 billion in 2024, rising from $859 million in 2015. The previous period was $3.08 billion in 2023.

What is Marriott International's operating income?

Marriott International's total operating income in 2024 was $3.77 billion, based on the following breakdown:

Total Gross Profit: $5.10 billion
Total Operating Expenses: $1.26 billion

How has Marriott International revenue changed over the last 9 years?

Over the last 9 years, Marriott International's total revenue changed from $14.49 billion in 2015 to $25.10 billion in 2024, a change of 73.3%.

How much debt does Marriott International have?

Marriott International's total liabilities were at $29.17 billion at the end of 2024, a 10.7% increase from 2023, and a 201.6% increase since 2015.

How much cash does Marriott International have?

In the past 9 years, Marriott International's cash and equivalents has ranged from $96 million in 2015 to $1.39 billion in 2021, and is currently $396 million as of their latest financial filing in 2024.

How has Marriott International's book value per share changed over the last 9 years?

Over the last 9 years, Marriott International's book value per share changed from -13.96 in 2015 to -10.77 in 2024, a change of -22.9%.

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This page (NASDAQ:MAR) was last updated on 4/14/2025 by MarketBeat.com Staff

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Marriott International (MAR) Financials

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Marriott International (MAR) Financials

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