Invesaro

Stocks MAR Financial statements

Financial statements

MARRIOTT INTERNATIONAL INC /MD/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data MARRIOTT INTERNATIONAL INC /MD/ files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue15,40720,45220,75820,97210,57113,85720,77323,71325,10026,186
General and administrative743921927938762823891867945870
Operating income1,4242,5042,3661,800841,7503,4623,8643,7674,141
Interest expense234288340394445420403565695809
Interest income35382226272826304042
Other non-operating income56881941549101140319
Pre-tax income1,2392,9822,3451,599-4661,1803,1143,3783,1513,394
Income tax4311,523438326-19981756295776793
Net income8081,4591,9071,273-2671,0992,3583,0832,3752,601
EBITDA1,5812,7352,6222,1464061,8883,5763,9863,8954,286
EPS, basic2.783.895.453.83-0.823.367.2710.238.369.53
EPS, diluted2.733.845.383.80-0.823.347.2410.188.339.51
Shares, basic (weighted)291375350333326327324302284273
Shares, diluted (weighted)296380354336326329326303285274
Dividend per share1.291.561.850.481.001.962.412.64

Balance sheet

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash and equivalents8583833162258771,393507338396358
Receivables1,6951,9732,1332,3951,7681,9822,5712,7122,7952,909
Other current assets62317
Total current assets3,3712,7402,7063,1272,8253,6263,3133,3113,4853,584
Property, plant and equipment2,3351,7931,9561,9041,5141,5031,5851,5811,8331,954
Lease right-of-use assets8887521,062987929845941
Goodwill7,5989,2079,0399,0489,1759,0738,8728,8868,7318,907
Intangible assets9,2708,5448,3808,6418,9898,9268,7479,1909,48810,336
Other non-current assets477593587595616604584658716799
Total assets24,14023,84623,69625,05124,70125,55324,81525,67426,18227,540
Accounts payable687783767720527726746738763814
Accrued liabilities1,1741,2141,3451,3398311,1871,2991,3901,4491,438
Short-term debt3093988339771,1738056845531,3091,209
Total current liabilities5,1475,8076,4376,6775,7526,4077,3397,7628,6498,398
Long-term debt8,1977,8408,5149,9639,2039,3339,38011,32013,13814,995
Lease liabilities08828231,0981,034887794879
Other non-current liabilities1,7442,6102,3722,2362,3662,0021,8421,4821,3771,265
Total liabilities19,01920,26421,47124,34824,27124,13924,24726,35629,17431,311
Total debt8,5068,2389,34724714313592565523
Paid-in capital5,8085,7705,8145,8005,8515,8925,9656,0516,1796,352
Retained earnings6,5017,2428,9829,6449,20610,30512,34214,83816,53118,414
Treasury stock-6,460-9,418-12,185-14,385-14,497-14,446-17,015-20,929-24,644-27,900
Other comprehensive income-497-17-391-361-135-342-729-647-1,063-642
Shareholders' equity5,1213,5822,2257034301,414568-682-2,992-3,771
Total equity5,1213,5822,2257034301,414568-682-2,992-3,771
Total liabilities and equity24,14023,84623,69625,05124,70125,55324,81525,67426,18227,540
Shares outstanding386359339324324326311291277266

Cash flow statement

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net income8081,4591,9071,273-2671,0992,3583,0832,3752,601
Depreciation and amortization157231256346322138114122128145
Stock-based compensation212181184187201182192205237236
Deferred income tax131-60-109-164-309118155-543-7762
Cash from operations1,6192,2272,3571,6851,6391,1772,3633,1702,7493,212
Capital expenditures-199-240-556-653-135-183-332-452-750-604
Acquisitions-2,39200
Cash from investing-2,3461,211-52-28435-187-297-465-734-948
Debt issued1,48201,6461,3973,5611,7939831,9182,9483,436
Debt repaid-326-310-397-835-1,887-2,174-804-684-558-1,309
Stock issued34647020297392
Share buybacks-568-3,013-2,850-2,260-1500-2,566-3,953-3,762-3,300
Dividends paid-374-482-543-612-1560-321-587-682-718
Cash from financing1,497-3,896-2,374-1,508-1,033-463-2,962-2,864-1,956-2,318
Net change in cash770-458-69-107641527-896-15959-54
Free cash flow1,4201,9871,8011,0321,5049942,0312,7181,9992,608
Interest paid165234290348377391345476599698
Income taxes paid2936366785262793624769079471,070

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $352.03 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Operating margin15.8%Operating income / revenue.
Pre-tax margin12.9%Pre-tax income / revenue.
Net margin9.6%Net income / revenue.
Operating cash flow margin13.9%Cash from operations / revenue.
Effective tax rate25.6%Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)9.2%Net income / average total assets.
Stock-based pay / revenue0.8%Stock-based compensation (from the cash flow statement) / revenue.

Growth

MetricValueHow it is calculated
Revenue growth, 1y4.3%Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y8.0%Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y19.9%Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y9.9%Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y6.2%Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y118.1%Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y10.0%EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y6.2%Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y60.2%Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y9.5%Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y3.3%Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y14.2%EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y9.5%Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y16.8%Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y10.8%Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y14.4%Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y30.5%Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y8.7%Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y11.6%Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y9.5%Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y38.2%Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y40.6%Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y5.2%Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y3.5%Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y2.2%Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y-4.1%Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y-5.7%Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y-3.4%Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

MetricValueHow it is calculated
Current ratio0.53xCurrent assets / current liabilities.
Quick ratio0.48x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio0.06x(Cash + short-term investments) / current liabilities.
Debt / assets0.1%Total debt / total assets.
Liabilities / assets116.1%Total liabilities / total assets.
Net debt-$439.0MTotal debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage5.01xOperating income / interest expense.
Working capital-$3.68BCurrent assets - current liabilities.
Goodwill and intangibles / assets31.6%(Goodwill + intangible assets) / total assets.
Tangible book value-$13.40BShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover0.96xRevenue / average total assets.
Fixed asset turnover14.6xRevenue / average property, plant and equipment.
Receivables turnover8.06xRevenue / average receivables.
Days sales outstanding45 days365 x average receivables / revenue.

Per share

MetricValueHow it is calculated
EPS, diluted$9.78Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share$101.72Revenue / diluted weighted shares.
Operating cash flow per share$14.09Cash from operations / diluted weighted shares.
Book value per share-$17.11Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share-$50.67Tangible book value / shares outstanding.
Cash per share$1.75(Cash + short-term investments) / shares outstanding.
Payout ratio28.3%Dividends paid / net income, when net income is positive.

Valuation

MetricValueHow it is calculated
Market cap$91.80BShare price x shares outstanding.
Enterprise value$91.36BMarket cap + total debt - cash - short-term investments.
P/E35.5xMarket cap / net income. Only when net income is positive.
P/S3.41xMarket cap / revenue.
P/OCF24.6xMarket cap / cash from operations, when positive.
EV/Sales3.40xEnterprise value / revenue.
EV/EBIT21.5xEnterprise value / operating income, when both are positive.
Earnings yield2.8%Net income / market cap (the inverse of P/E).
Dividend yield0.8%Dividends paid over the period / market cap.
Shareholder yield4.7%(Dividends paid + share buybacks) / market cap.
PEG3.73xP/E / EPS growth per year over 3 years (in percent). Only when both are positive.
What was MARRIOTT INTERNATIONAL INC /MD/'s revenue in fiscal 2025?

MARRIOTT INTERNATIONAL INC /MD/ reported revenue of $26.19B for fiscal 2025, 4.3% higher than the year before.

Was MARRIOTT INTERNATIONAL INC /MD/ profitable in fiscal 2025?

Yes. Net income was $2.60B, a net margin of 9.9%.

How much free cash flow did MARRIOTT INTERNATIONAL INC /MD/ generate in fiscal 2025?

Cash from operations of $3.21B minus capital expenditures of $604.0M left free cash flow of $2.61B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to MARRIOTT INTERNATIONAL INC /MD/