Marriott International Inc

Consumer Discretionary
Hotels/Resorts
www.marriott.com

Earnings Score
Safety Score

Market Cap $82.36B
Debt $13.63B
Cash $416.00M
EV $95.58B
FCF $2.64B

Earnings

loading chart...

Sales & Net Margins

loading chart...

Earnings	$2.77B
EBIT	$3.73B
ROA	14%
FCF	$2.64B
Equity	-$2.42B
Growth Stability	-18%
PE	29.76
PEG	0.54
PB	-34.02
P/FCF	31.2
P/S	3.33
Price/Cash	0.01
Debt/Equity	-5.63
Debt/FCF	5.16
Net Margins	10%
Op. Margins	15%
Earnings CAGR	10%
Sales Growth YoY	6%
Sales Growth QoQ	-3%
Sales CAGR	2%
FCF CAGR	4%
Equity CAGR	-7%
Earnings Stability	0.19
Earnings Growth YoY	-22%
Earnings Growth QoQ	-24%

Earnings CAGR 5Y	56%
Sales CAGR 5Y	15%
FCF CAGR 5Y	28%
Equity CAGR 5Y	1%
Earnings CAGR 3Y	21%
Sales CAGR 3Y	21%
FCF CAGR 3Y	34%
Equity CAGR 3Y	-9%
Market Cap	$82.36B
Revenue	$24.77B
Dividend Yield	1%
Payout Ratio	24%
Assets	$26.21B
Total Debt	$13.63B
Cash	$416.00M
Shares Outstanding	281.5M
EV	95.58B
Earnings Score	10%
Safety Score	30%
Working Capital	-4.95B
Current Ratio	0.42
Shares Growth 3y	-6%
Equity Growth QoQ	16%
Equity Growth YoY	266%

Assets & ROA

loading chart...

Stockholders Equity & ROE

loading chart...

Marriott operates nearly 1.5 million rooms across roughly 30 brands. At the end of 2021, luxury represented 10% of total rooms, while full service, limited service, and time-shares were 43%, 46%, and 2% of all units, respectively. Marriott, Courtyard, and Sheraton are the largest brands, while Autograph, Tribute, Moxy, Aloft, and Element are newer lifestyle brands. Managed and franchised represent 97% of total rooms. North America makes up two thirds of total rooms. Managed, franchise, and incentive fees represent the vast majority of revenue and profitability for the company.

SEC Filings

Direct access to Marriott International Inc (MAR) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Marriott International Inc compare to its competitors?

Loading chart...

Peter Lynch's Chart

This chart shows the current pricing of Marriott International Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 10%

Stability 19%

loading chart...

Marriott International Inc Discounted Cash Flow

Fully customizable DCF calculator online for Marriott International Inc .

Years

Calculation mode

= $35B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$2.6B	$2.8B	$2.9B	$3B	$3.1B	$3.3B	$3.4B	$3.6B	$3.7B	$3.9B	$4B	$40B
DCF		$2.5B	$2.4B	$2.3B	$2.1B	$2B	$1.9B	$1.8B	$1.7B	$1.6B	$1.6B	$16B
Value	$35B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	5%	6%	5%	6%	9%	6%	-3%	8%	11%	13%	10%
ROA	-	23%	6%	13%	10%	7%	0%	7%	14%	15%	14%
ROE	-	-24%	15%	37%	86%	181%	-62%	78%	415%	-452%	-

Good Net Margins (10.28%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	3.65	6.15	3.75	5.19	10.6	6.9	10.2	4.96	4.37	5.16
Debt over Equity	-1.72	-1.14	1.59	2.21	4.2	15.56	24.13	7.17	17.72	-17.41	-5.63
Growth Stability	-	-	-	100%	100%	94%	-18%	100%	100%	100%	-18%

Bad Debt/FCF ratio (5.16)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (-5.63)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-18%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	5%	18%	34%	-9%	1%	-50%	31%	50%	14%	15%
Earnings YoY growth	-	14%	-9%	76%	39%	-33%	-121%	-512%	115%	31%	56%
Equity YoY growth	-	63%	-249%	-30%	-40%	-68%	-39%	229%	-60%	-220%	1%
FCF YoY growth	-	38%	23%	59%	-18%	-43%	46%	-34%	104%	34%	28%