Marriott International, Inc. Class A Common Stock (MAR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$3.08	$3.19	+3.6%	—	—	—
Q3 26	$2.55	$2.72	+6.7%	—	—	—
Q2 26	$1.61	$1.87	+16.1%	—	—	—
Q1 26	$2.39	$2.47	+3.3%	—	—	—
Q4 25	$2.62	$2.65	+1.1%	—	—	—
Q3 25	$2.25	$2.32	+3.1%	—	—	—
Q2 25	$2.38	$2.45	+2.9%	—	—	—
Q1 25	$2.31	$2.26	-2.2%	—	—	—
Q4 24	$2.48	$2.5	+0.8%	—	—	—
Q3 24	$2.16	$2.13	-1.4%	—	—	—
Q2 24	$2.12	$3.57	+68.4%	—	—	—
Q1 24	$2.1	$2.11	+0.5%	—	—	—
Q4 23	$2.17	$2.26	+4.1%	—	—	—
Q3 23	$1.85	$2.09	+13.0%	—	—	—
Q2 23	$1.82	$1.96	+7.7%	—	—	—
Q1 23	$1.68	$1.69	+0.6%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$9.53	—	—	$26.2B	—
FY24	—	$8.36	—	—	$25.1B	—
FY23	—	$10.2	—	—	$23.7B	—
FY22	—	$7.27	—	—	$20.8B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$15.4B	$20.5B	$20.8B	$21B	$10.6B	$13.9B	$20.8B	$23.7B	$25.1B	$26.2B
YoY change	+6.36%	+32.7%	+1.5%	+1.03%	-49.6%	+31.1%	+49.9%	+14.2%	+5.85%	+4.33%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	15.4B	20.5B	20.8B	21B	10.6B	13.9B	20.8B	23.7B	25.1B	26.2B
Cost of revenue	12.7B	16.6B	17.1B	17.8B	9.1B	11.1B	16.2B	18.6B	20B	21B
Gross profit	2.7B	3.8B	3.7B	3.2B	1.5B	2.8B	4.6B	5.1B	5.1B	5.2B
Gross margin	17.3%	18.6%	17.7%	15.3%	13.8%	20.2%	21.9%	21.6%	20.3%	19.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	743M	921M	927M	938M	762M	823M	891M	1B	1.1B	870M
Operating expenses	743M	921M	927M	938M	762M	823M	891M	1B	1.1B	870M
Operating income	1.8B	2.7B	2.5B	1.9B	351M	1.8B	3.5B	3.9B	3.8B	4.1B
Operating margin	11.7%	13%	12.1%	9.24%	3.32%	12.7%	16.7%	16.5%	15.3%	15.8%
Non-operating income, net	-372M	569M	142M	29M	-399M	-186M	17M	-11M	-38M	22M
Pretax income	1.2B	3B	2.3B	1.6B	-466M	1.2B	3.1B	3.4B	3.2B	3.4B
Income tax	431M	1.5B	438M	326M	-199M	81M	756M	295M	776M	793M
Net income	808M	1.5B	1.9B	1.3B	-267M	1.1B	2.4B	3.1B	2.4B	2.6B
Net margin	5.24%	7.13%	9.19%	6.07%	-2.53%	7.93%	11.4%	13%	9.46%	9.93%
EBITDA	2B	3.7B	3.1B	2.5B	724M	2.1B	3.8B	4.3B	4.4B	4.8B
EPS	2.68	3.89	5.45	3.83	-0.82	3.36	7.27	10.2	8.36	9.53
Diluted EPS	2.64	3.84	5.38	3.8	-0.82	3.34	7.24	10.2	8.33	9.51

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	5.9B	6.1B	6B	6.4B	6.3B	6.4B	6.3B	6.7B	6.5B	6.7B	6.7B	7.1B
Cost of revenue	4.5B	5B	4.8B	4.9B	5B	5.3B	5B	5.2B	5.1B	5.7B	5.3B	5.5B
Gross profit	1.4B	1.1B	1.2B	1.5B	1.3B	1.1B	1.2B	1.5B	1.4B	1B	1.3B	1.6B
Gross margin	23.6%	18.2%	19.9%	23.3%	20.4%	17.7%	19.9%	22.9%	21.9%	15.1%	20.2%	22%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	239M	330M	261M	248M	276M	289M	245M	245M	234M	146M	219M	220M
Operating expenses	239M	330M	261M	248M	276M	289M	245M	245M	234M	146M	219M	220M
Operating income	1.1B	726M	884M	1.2B	953M	804M	949M	1.2B	1.1B	806M	1.1B	1.2B
Operating margin	18.8%	11.9%	14.8%	18.7%	15.2%	12.5%	15.2%	18.4%	17.6%	12%	16.1%	17.2%
Non-operating income, net	16M	-1M	-4M	1M	1M	-36M	-2M	1M	48M	-25M	-6M	26M
Pretax income	989M	581M	727M	1B	786M	598M	764M	1.1B	994M	582M	858M	1B
Income tax	237M	-267M	163M	268M	202M	143M	99M	291M	266M	137M	210M	278M
Net income	752M	848M	564M	772M	584M	455M	665M	763M	728M	445M	648M	766M
Net margin	12.7%	13.9%	9.44%	12%	9.34%	7.08%	10.6%	11.3%	11.2%	6.65%	9.74%	10.8%
EBITDA	1.2B	815M	966M	1.3B	1B	1.1B	1.1B	1.4B	1.3B	996M	1.2B	1.5B
EPS	2.52	2.88	1.94	2.7	2.08	1.63	2.4	2.78	2.68	1.66	2.44	2.9
Diluted EPS	2.51	2.87	1.93	2.69	2.07	1.63	2.39	2.78	2.67	1.65	2.43	2.9

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	24.1B	—	38B	50.4B	43B	54.1B	48.3B	68B	79.3B	84.7B	93.5B
Enterprise value	31.7B	—	47B	62B	53.3B	63.9B	58.9B	80.4B	94.1B	101.4B	109.1B
Shares outstanding	290.9M	375.2M	350.1M	332.7M	325.8M	327.2M	324.4M	301.5M	284.2M	272.9M	272.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	29.8	—	19.9	39.6	—	49.2	20.5	22.1	33.4	32.6	36.8
P/S	1.56	—	1.83	2.4	4.07	3.9	2.33	2.87	3.16	3.23	12.5
P/B	4.49	—	17.1	71.7	100	38.2	85	-99.7	-26.5	-22.5	-20.9
EV/EBITDA	15.7	—	15.1	24.5	73.6	30.9	15.5	18.8	21.3	21.1	22.7
EV/Sales	2.06	—	2.27	2.96	5.04	4.61	2.83	3.39	3.75	3.87	14.8
Earnings yield	3.36%	—	5.02%	2.53%	—	2.03%	4.88%	4.53%	3%	3.07%	2.72%
FCF yield	5.9%	—	4.74%	2.05%	3.5%	1.84%	4.2%	4%	2.52%	3.08%	2.2%
PEG	—	—	—	—	—	—	—	—	—	—	8.52

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	17.3%	18.6%	17.7%	15.3%	13.8%	20.2%	21.9%	21.6%	20.3%	19.9%	22%
Operating margin	11.7%	13%	12.1%	9.24%	3.32%	12.7%	16.7%	16.5%	15.3%	15.8%	65.3%
Net margin	5.24%	7.13%	9.19%	6.07%	-2.53%	7.93%	11.4%	13%	9.46%	9.93%	35%
ROE	15.1%	40.7%	85.7%	181.1%	-62.1%	77.7%	415.1%	-452.1%	-79.4%	-69%	-69%
ROA	3.35%	6.12%	8.05%	5.08%	-1.08%	4.3%	9.5%	12%	9.07%	9.44%	9.76%
ROIC	9.08%	11.4%	18.2%	12.5%	3.26%	14.5%	23.6%	30.5%	24.4%	24.5%	24.6%
Return on tangible assets	-8.42%	-12.5%	-17.1%	-12.3%	2.3%	-10.5%	-22.6%	-29.4%	-23.2%	-23.8%	-24.4%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.65	0.47	0.42	0.47	0.49	0.57	0.45	0.43	0.4	0.43	0.54
Quick ratio	0.65	0.47	0.42	0.47	0.49	0.57	0.45	0.43	0.4	0.43	0.53
Debt / equity	1.59	2.3	4.2	16.8	26	7.95	19.5	-18.7	-5.09	-4.53	-0.04
Debt / assets	0.35	0.35	0.39	0.47	0.45	0.44	0.45	0.5	0.58	0.62	0.63
Net debt / EBITDA	3.79	2.12	2.89	4.58	14.3	4.76	2.78	2.9	3.36	3.48	3.45
Interest coverage	6.29	11.4	7.9	5.06	-0.05	3.81	8.73	6.98	5.53	5.2	5.1
Effective tax rate	34.8%	51.1%	18.7%	20.4%	0%	6.86%	24.3%	8.73%	24.6%	23.4%	25.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	53	54.5	59.3	63	32.4	42.4	64	78.7	88.3	96	27.6
EPS (basic)	2.68	3.89	5.45	3.83	-0.82	3.36	7.27	10.2	8.36	9.53	9.53
EPS (diluted)	2.64	3.84	5.38	3.8	-0.82	3.34	7.24	10.2	8.33	9.51	9.65
Book value per share	18.4	9.55	6.36	2.11	1.32	4.32	1.75	-2.26	-10.5	-13.8	-17.3
FCF per share	4.88	5.3	5.14	3.1	4.62	3.04	6.26	9.01	7.03	9.56	11.8
Cash per share	2.95	1.02	0.9	0.68	2.69	4.26	1.56	1.12	1.39	1.31	1.77
Capex per share	0.73	3.78	1.37	1.19	0.8	0.04	0	0.24	0.06	2.21	2.25

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.37%	6.93%	2.31%	1.88%	2.46%	0.09%	0%	0.3%	0.06%	2.31%	2.22%
Capex / operating cash flow	12.2%	48.2%	18.2%	18.8%	15.6%	1.33%	0.03%	2.29%	0.57%	18.8%	16%
Payout ratio	46.3%	33%	28.5%	48.1%	-58.4%	0%	13.6%	19%	28.7%	27.6%	28.4%
Dividend yield	1.55%	—	1.43%	1.21%	0.36%	0%	0.66%	0.86%	0.86%	0.85%	0.81%

Yield

0.81%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.73

ex-dividend Aug 20, 2026

Payout ratio

28%

of earnings

Dividend growth

3 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 20, 2026	$0.73
May 22, 2026	$0.73
Feb 26, 2026	$0.67

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$5.9B	$6.1B	$6B	$6.4B	$6.3B	$6.4B	$6.3B	$6.7B	$6.5B	$6.7B	$6.7B	$7.1B
YoY change	+11.6%	+2.9%	+6.45%	+5.99%	+5.52%	+5.48%	+4.79%	+4.74%	+3.74%	+4.06%	+6.24%	+4.85%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	858M	383M	316M	225M	877M	1.4B	507M	338M	396M	358M
Receivables	1.7B	2B	2.1B	2.4B	1.8B	2B	2.6B	2.7B	2.8B	2.9B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	3.4B	2.7B	2.7B	3.1B	2.8B	3.6B	3.3B	3.3B	3.5B	3.6B
Property, plant & equipment	983M	741M	681M	1.7B	1.2B	1.6B	1.5B	1.4B	1.4B	1.6B
Goodwill & intangibles	33.7B	35.5B	34.8B	35.4B	36.3B	36B	35.2B	36.2B	36.4B	38.5B
Total assets	24.1B	23.8B	23.7B	25.1B	24.7B	25.6B	24.8B	25.7B	26.2B	27.5B
Accounts payable	687M	783M	767M	720M	527M	726M	746M	738M	763M	814M
Short-term debt	309M	398M	833M	977M	1.2B	805M	684M	553M	1.3B	1.2B
Total current liabilities	5.1B	5.8B	6.4B	6.7B	5.8B	6.4B	7.3B	7.8B	8.6B	8.4B
Long-term debt	8.2B	7.8B	8.5B	10.8B	10B	10.4B	10.4B	12.2B	13.9B	15.9B
Total liabilities	18.8B	20.3B	21.5B	24.3B	24.3B	24.1B	24.2B	26.4B	29.2B	31.3B
Shareholders' equity	5.4B	3.6B	2.2B	703M	430M	1.4B	568M	-682M	-3B	-3.8B
Total debt	8.5B	8.2B	9.3B	11.8B	11.2B	11.2B	11.1B	12.8B	15.2B	17.1B
Net debt	7.6B	7.9B	9B	11.6B	10.3B	9.8B	10.6B	12.4B	14.8B	16.7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	717M	338M	429M	349M	394M	396M	523M	671M	678M	358M	454M	462M
Receivables	2.7B	2.7B	2.7B	2.8B	2.9B	2.8B	2.9B	3B	3.1B	2.9B	3.1B	3.3B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	3.7B	3.3B	3.5B	3.5B	3.6B	3.5B	3.7B	4B	4.1B	3.6B	3.9B	4.2B
Property, plant & equipment	2.5B	1.4B	2.5B	2.4B	2.5B	1.4B	2.7B	2.8B	2.9B	1.6B	2.9B	2.8B
Goodwill & intangibles	35.6B	36.2B	36.1B	36.1B	36.8B	36.4B	36.8B	37.4B	38.2B	38.5B	38.5B	38.7B
Total assets	25.3B	25.7B	25.8B	25.7B	26.2B	26.2B	26.7B	27.3B	27.8B	27.5B	27.9B	28.1B
Accounts payable	696M	738M	793M	826M	807M	763M	812M	778M	759M	814M	763M	819M
Short-term debt	898M	553M	910M	960M	960M	1.3B	959M	1.1B	1.6B	1.2B	1.2B	460M
Total current liabilities	7.7B	7.8B	8.2B	8.3B	8.5B	8.6B	8.3B	8.2B	8.8B	8.4B	8.5B	7.9B
Long-term debt	11.8B	12.2B	12.6B	13B	13.5B	13.9B	14.9B	15.4B	15.3B	15.9B	16.2B	17.3B
Total liabilities	25.9B	26.4B	27.4B	27.8B	28.6B	29.2B	29.8B	30.3B	31B	31.3B	31.9B	32.6B
Shareholders' equity	-661M	-682M	-1.6B	-2.1B	-2.4B	-3B	-3.2B	-3B	-3.1B	-3.8B	-4.1B	-4.5B
Total debt	12.7B	12.8B	13.5B	14B	14.5B	15.2B	15.9B	16.5B	16.9B	17.1B	17.4B	17.8B
Net debt	12B	12.4B	13.1B	13.6B	14.1B	14.8B	15.3B	15.9B	16.2B	16.7B	17B	17.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	808M	1.5B	1.9B	1.3B	-267M	1.1B	2.4B	3.1B	2.4B	2.6B
Depreciation & amortization	159M	279M	284M	403M	478M	295M	282M	277M	492M	599M
Stock-based compensation	212M	181M	184M	187M	201M	182M	192M	205M	237M	236M
Change in working capital	—	—	—	—	—	—	—	—	—	—
Operating cash flow	1.7B	2.9B	2.6B	2.1B	1.7B	903M	2.9B	3.1B	2.8B	3.2B
Capital expenditure	211M	1.4B	479M	395M	260M	12M	1M	71M	16M	-604M
Investing cash flow	-2.1B	1.3B	504M	764M	430M	-4M	35M	-13M	16M	-957M
Dividends paid	-374M	-482M	-543M	-612M	-156M	0	-321M	-587M	-682M	-718M
Share repurchases	-568M	-3B	-2.9B	-2.3B	-150M	0	-2.6B	-4B	-3.8B	-3.3B
Financing cash flow	1.5B	-3.9B	-2.4B	-1.5B	-1B	-463M	-3B	-2.9B	-2B	-2.3B
Net change in cash	1.1B	310M	757M	1.4B	1.1B	436M	-22M	224M	891M	-63M
Free cash flow	1.4B	2B	1.8B	1B	1.5B	994M	2B	2.7B	2B	2.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	752M	848M	564M	772M	584M	455M	665M	763M	728M	445M	648M	766M
Depreciation & amortization	69M	73M	68M	26M	-27M	279M	136M	143M	143M	177M	162M	222M
Stock-based compensation	54M	58M	53M	57M	63M	64M	52M	58M	61M	65M	57M	66M
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	807M	541M	1B	805M	768M	238M	972M	643M	1.1B	829M	858M	948M
Capital expenditure	61M	10M	1M	0	3M	12M	0	-155M	-142M	-172M	-130M	-152M
Investing cash flow	4M	32M	14M	-5M	10M	12M	-8M	-143M	-498M	-173M	-151M	-120M
Dividends paid	-154M	-152M	-151M	-179M	-176M	-176M	-174M	-183M	-182M	-179M	-178M	-192M
Share repurchases	-942M	-965M	-1.1B	-1B	-1B	-586M	-751M	-749M	-800M	-1B	-700M	-1.1B
Financing cash flow	-597M	-1B	-602M	-720M	-670M	36M	-383M	-354M	-2.1B	-979M	-2B	-915M
Net change in cash	214M	-453M	432M	80M	108M	286M	581M	146M	-1.5B	-323M	-1.3B	-87M
Free cash flow	757M	617M	670M	647M	706M	-24M	512M	488M	951M	657M	728M	796M

Date	Ratio
Nov 22, 2011	1061:1000
Nov 17, 2009	1003:1000
Aug 18, 2009	1004:1000
Jun 23, 2009	1004:1000
Jun 12, 2006	2:1

Marriott International, Inc. Class A Common Stock Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history