Saturday 31 October 2026 Export MAR’s income statement to Excel — free account

Marriott International, Inc.

Marriott International, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $26.2 billion, up 4.33% from fiscal 2024. In the quarter to June 2026, revenue grew 4.85%, EPS grew 4.32%, free cash flow grew 81.8% and total debt rose 8.05%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; dividend growth for five consecutive years, revenue growth for five.

399.69 0.04 +0.01%

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Market cap: $104.2B
P/E: 41.3×
Fwd P/E: 34.9×
Dividend yield: 0.70%
F-score: 8/9
Altman Z: 3.80
Beneish M: −2.55
Dividend safety: 72/100

Overview Business Profile Earnings & Analysis Segments Filings

Insider Decisions trades per month

Total sells 66.40

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	6	1	—	8	—	—	2	—	—	—	3	—

Insider Ownership 21.62%

Capital & Financial Ratios $m

Market Cap 104,220.00

Revenue 26,904.00

Net Income 2,587.00

Free Cash Flow 2,884.00

Net Debt 16,453.00

Current Ratio 0.53

Debt/Equity (3.74)

P/E ratio 41.29

Fwd P/E 34.90

P/S ratio 3.92

P/B ratio 0.00

Past 5Y EPS Growth —

This Y EPS Growth 17.25%

Next Y EPS Growth 11.53%

Next Y revenue growth 6.06%

Next 5Y EPS Growth 13.21%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 86.65%

10-year low 10-year high

P/S against its own 10 years 89.97%

10-year low 10-year high

EV/Sales against its own 10 years 89.31%

10-year low 10-year high

EV/FCF against its own 10 years 74.00%

10-year low 10-year high

Dividends

Payout Ratio 0.29

Annual Dividend Rate 2.80

Annual Dividend Yield 0.70%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	2.87	0.67 0.73 0.73
2025	2.64	0.63 0.67 0.67 0.67
2024	2.41	0.52 0.63 0.63 0.63
2023	1.96	0.40 0.52 0.52 0.52
2022	1.00	0.30 0.30 0.40
2021	Powerpack
2020	0.48	0.48
2019	1.85	0.41 0.48 0.48 0.48
2018	1.56	0.33 0.41 0.41 0.41
2017	1.29	0.30 0.33 0.33 0.33
2016	1.15	0.25 0.30 0.30 0.30

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	338	396	358	462
Receivables	2,712	2,795	2,909	3,338
Inventory	—	—	—	—
Other	—	—	—	—
	3,311	3,485	3,584	4,226

	2023	2024	2025	Q'26
Payables	738	763	814	819
ST’ Debt	553	1,309	1,209	460
Other	3,328	3,487	3,497	3,680
	7,762	8,649	8,398	7,904

Compound Annual Growth %

	10y	5y	3y
Sales	6.10%	19.89%	8.02%
Cash Flow	7.80%	14.40%	10.77%
Earnings	11.72%	0.00%	3.32%
Book Value	0.00%	0.00%	0.00%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 3.06 Actual 3.19

2.29 2.55 2.80 3.05 3.31

Q3 FY25 Beat +0.06

Q4 FY25 Miss −0.06

Q1 FY26 Beat +0.14

Q2 FY26 Beat +0.13

Q3 FY26 — Nov 2

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Q3 FY25	2.41	2.47	Beat by 0.06
Q4 FY25	2.64	2.58	Miss by 0.06
Q1 FY26	2.58	2.72	Beat by 0.14
Q2 FY26	3.06	3.19	Beat by 0.13
Q3 FY26	2.86	—	Reports 2 November 2026

EPS $

	Mar	Jun	Sep	Dec	Year
’26	2.43	2.90	—	—	—
’25	2.39	2.78	2.67	1.65	9.51
’24	1.93	2.69	2.07	1.63	8.33
’23	2.43	2.38	2.51	2.87	10.18
’22	1.14	2.06	1.94	2.12	7.24
’21	(0.03)	1.28	0.67	1.42	3.34
’20	0.09	(0.72)	0.31	(0.50)	(0.82)

Fiscal quarters ending in the months shown.

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	6,654	7,071	—	—	—
’25	6,263	6,744	6,489	6,690	26,186
’24	5,977	6,439	6,255	6,429	25,100
’23	5,615	6,075	5,928	6,095	23,713
’22	4,199	5,338	5,313	5,923	20,773
’21	2,316	3,149	3,946	4,446	13,857
’20	4,681	1,464	2,254	2,172	10,571

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	858	948	—	—	—
’25	647	643	1,093	829	3,212
’24	779	772	880	318	2,749
’23	887	651	881	751	3,170
’22	398	650	874	441	2,363
’21	27	99	619	432	1,177
’20	514	991	118	16	1,639

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	730	887	—	—	—
’25	512	488	611	656	2,267
’24	671	647	709	(38)	1,989
’23	792	450	818	628	2,688
’22	349	580	801	302	2,032
’21	4	59	576	367	1,006
’20	715	971	100	(22)	1,764

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
												Ten-year view		Analyst estimates Powerpack
Price, $
Price, $	Low	56.43	81.04	100.62	101.57	46.56	115.50	131.01	147.10	204.55	205.40		+15.4%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	High	86.15	137.60	149.21	153.39	152.60	171.68	195.90	226.63	295.45	316.69		+15.6%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
People
People	Employees	226,500	177,000	176,000	174,000	121,000	120,000	377,000	411,000	418,000	414,000		+6.9%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	Revenue/emp, $m	0.07	0.12	0.12	0.12	0.09	0.12	0.06	0.06	0.06	0.06		(0.8%)	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
Income, $m
Income, $m	Revenue	15,407	20,452	20,758	20,972	10,571	13,857	20,773	23,713	25,100	26,186		+6.1%	27,772	29,419	31,031	+5.8%
	Gross margin, %	17.34	93.10	17.70	15.34	13.80	20.21	21.94	21.00	19.81	19.94		+2.6 pt	Powerpack Marriott International, Inc.’s next three years, line by line Analysts expect revenue to grow 5.8% a year to 2028 — in line with the 6.1% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	1,239	2,982	2,345	1,599	(466)	1,180	3,114	3,378	3,151	3,394		+11.8%
	EBT margin, %	8.04	14.58	11.30	7.62	(4.41)	8.52	14.99	14.25	12.55	12.96		+4.9 pt
	Net income	808	1,459	1,907	1,273	(267)	1,099	2,358	3,083	2,375	2,601		+13.9%
	Depreciation	159	279	284	403	478	295	400	436	492	599		+15.9%
Per share, $
Per share, $	Revenue	52.96	54.51	59.29	63.04	32.45	42.35	64.04	78.65	88.32	95.95		+6.8%
	Earnings	2.68	3.66	5.45	3.83	(0.82)	3.36	7.27	10.23	8.36	9.53		+15.1%
	Cash flow	5.57	5.94	6.73	5.06	5.03	3.60	7.28	10.51	9.67	11.77		+8.7%
	Capex	0.04	3.14	(0.22)	(0.78)	0.38	(0.52)	(1.02)	(1.60)	(2.67)	(3.46)		n/m
	Free cash flow	5.61	9.08	6.51	4.29	5.41	3.07	6.26	8.92	7.00	8.31		+4.5%
	Book value	18.42	9.55	6.36	2.11	1.32	4.32	1.75	(2.26)	(10.53)	(13.82)		n/m
	Shares, m	291	375	350	333	326	327	324	302	284	273		(0.7%)
Valuation, ×
Valuation, ×	P/E	30.33	39.11	21.04	39.64	0.00	49.18	20.30	21.69	33.41	32.59		28.7
	P/S	1.56	2.45	1.83	2.40	4.07	3.90	2.31	2.82	3.16	3.23		2.8
	P/B	4.48	14.01	17.08	71.67	99.95	38.24	84.38	0.00	0.00	0.00		33.0
	EV/Sales	2.05	2.84	2.27	2.91	4.96	4.53	2.77	3.31	3.72	3.84		3.3
	EV/FCF	20.50	17.49	21.45	45.59	31.29	68.35	29.56	30.15	49.07	46.11		36.0
Cash, $m
Cash, $m	Operating cash flow	1,619	2,227	2,357	1,685	1,639	1,177	2,363	3,170	2,749	3,212		+7.9%
	Capex	12	1,178	(77)	(258)	125	(171)	(331)	(482)	(760)	(945)		n/m
	Free cash flow	1,631	3,405	2,280	1,427	1,764	1,006	2,032	2,688	1,989	2,267		+3.7%
Balance, $m
Balance, $m	Working capital	(1,776)	(3,067)	(3,731)	(3,550)	(2,927)	(2,781)	(4,026)	(4,451)	(5,164)	(4,814)		+11.7%
	Total debt	8,506	8,238	9,347	10,940	10,376	10,138	10,064	11,873	14,447	16,204		+7.4%
	Net debt	7,648	7,855	9,031	10,715	9,499	8,745	9,557	11,535	14,051	15,846		+8.4%
	Shareholders’ equity	5,357	3,582	2,225	703	430	1,414	568	(682)	(2,992)	(3,771)		n/m
Returns, %
Returns, %	ROA	5.35	6.08	8.02	5.22	(1.07)	4.37	9.36	12.21	9.16	9.68		+4.3 pt
	ROIC	6.84	13.68	13.14	9.85	0.53	10.77	21.37	22.25	21.29	21.43		+14.6 pt
	ROE	91.45	32.64	65.68	86.95	(47.13)	119.20	237.94	(5,408.77)	(129.29)	(76.92)		(168.4) pt

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by products and services, and margins
Reimbursements	19,204	73.34%
Net fee revenues	5,303	20.25%
Owned, leased, and other	1,679	6.41%
Gross margin		19.94%
Operating margin		15.81%
Pre-tax margin		12.96%

Revenue by segment since 2008

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
MAR Marriott International, Inc.	$104.2B	41.3×	34.9×	+4.85% (above 0%: growing)	+4.32% (above 0%: growing)	+81.76% (above 0%: growing)	21.98%	17.38%
HLT Hilton Worldwide Holdings Inc.	$79.4B	52.0×	41.7×	+6.50% (above 0%: growing)	+14.59% (above 0%: growing)	−29.27% (below 0%: shrinking)	92.04%	25.68%	Compare
IHG Intercontinental Hotels Group	$24.8B	28.4×	27.5×	+93.76% (above 0%: growing)	+931.26% (above 0%: growing)	+155.56% (above 0%: growing)	25.15%	0.00%	Compare
H Hyatt Hotels Corporation	$17.4B	211×	53.5×	+1.16% (above 0%: growing)	n/m	+125.23% (above 0%: growing)	20.78%	6.94%	Compare
HTHT H World Group Limited Sponsored ADR	$14.4B	20.3×	17.6×	+17.06% (above 0%: growing)	+5.71% (above 0%: growing)	+917.02% (above 0%: growing)	43.43%	31.05%	Compare
WH Wyndham Hotels & Resorts	$5.6B	27.4×	16.2×	−5.54% (below 0%: shrinking)	+21.24% (above 0%: growing)	+32.76% (above 0%: growing)	93.07%	46.40%	Compare
CHH Choice Hotels International, Inc.	$5.1B	15.6×	20.6×	+3.36% (above 0%: growing)	−19.32% (below 0%: shrinking)	+25.40% (above 0%: growing)	94.22%	23.63%	Compare
ATAT Atour Lifestyle Holdings Limited Sponsored ADR	$3.7B	15.7×	14.3×	+49.28% (above 0%: growing)	+42.86% (above 0%: growing)	+19.35% (above 0%: growing)	43.60%	22.15%	Compare
CVEO Civeo Corporation	$315.8M	— (loss-making)	— (loss-making)	+10.65% (above 0%: growing)	n/m	+233.36% (above 0%: growing)	23.00%	2.83%	Compare
Median of peers	$10.0B	27.4×	20.6×	+8.57%	+17.92%	+78.99%	43.52%	22.89%

All 12 Lodging stocks →

Business profile

Updated 27 October 2026

Marriott International is a worldwide franchisor, operator and licensor of hotels, residences, timeshare properties and other lodging offerings. Founded on 1993-10-08 and headquartered in Bethesda, it serves travelers while selling brand affiliation, distribution, operating services and technology to hotel owners and other counterparties. Anthony G. Capuano is President and Chief Executive Officer.

The company organizes its hotel brands by Classic and Distinctive styles and by Luxury, Premium, Select and Midscale tiers, with longer-stay brands spanning multiple tiers. Its system had 9,805 properties and 1,779,936 rooms in 145 countries and territories at year-end 2025. It owns or leases less than one percent of the lodging properties in its system.

Read the full business profile →

From the latest earnings call

Updated 26 October 2026

Tony Capuano said global RevPAR rose 3.4% in Q2, while the Middle East conflict reduced international RevPAR and delayed construction projects.
Jen Mason said Marriott raised its full-year global RevPAR growth outlook to 3% to 3.5% and expects Q3 growth of 3.5% to 4%.

Read the Earnings & Analysis →

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 62.01%

Held by the ten largest 33.04%

Holder	Shares	Stake	Change
Vanguard	20.38m	7.82%	−145.36k
BlackRock	16.05m	6.16%	+558.47k
State Street	9.64m	3.70%	+272.04k
Invesco	9.64m	3.70%	−197.99k
Fidelity (FMR)	6.81m	2.61%	−265.29k
Wellington Management	5.47m	2.10%	−374.58k
Geode Capital Management	5.35m	2.05%	+41.15k
Morgan Stanley	4.98m	1.91%	+278.69k
JPMorgan Chase	4.10m	1.57%	+1.04m
MFS Investment Management	3.71m	1.42%	−552.53k

13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.