Marriott International

Consumer Discretionary Hotels, Resorts & Cruise Lines Bethesda, Maryland Last filing Feb 10, 2026 · FY2025

                    Revenue
                    FY2025
                
$26.2B
                    3y CAGR +8.0%
                    
                    P64
                    
                    +4.3%
                    
                    Net income
                    FY2025
                
$2.6B
                    Net margin +9.9%
                    
                    P54
                    
                    +9.5%
                    
                    Total assets
                    FY2025
                
$27.5B
                    ROA +9.4%
                    
                    P48
                    
                    +5.2%
                    
                    Operating cash flow
                    FY2025
                
$3.2B
                    
                    +16.8%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

30 accounts · 5 years

Total assets $27.5B

Total liabilities $8.4B

Shareholders equity $-3.8B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	$371.0M -12.7%	$425.0M 16.1%	$366.0M -30.3%	$525.0M -63.1%	$1.4B
Accounts Receivable	$0	$0	$0	$0	$0
Prepaid Expenses	$317.0M 7.8%	$294.0M 12.6%	$261.0M 11.1%	$235.0M -6.4%	$251.0M
Other Current Assets	$0	$0	$0	$0	$0
Total Current Assets	$3.6B 2.8%	$3.5B 5.3%	$3.3B -0.1%	$3.3B -8.6%	$3.6B
Property,Plant and Equipment	$2.0B 6.6%	$1.8B 15.9%	$1.6B -0.3%	$1.6B 5.5%	$1.5B
Operating Lease Assets	$941.0M 11.4%	$845.0M -9.0%	$929.0M -5.9%	$987.0M -7.1%	$1.1B
Goodwill	$8.9B 2.0%	$8.7B -1.7%	$8.9B 0.2%	$8.9B -2.2%	$9.1B
Intangible Assets	$0 -100.0%	$9.5B 3.2%	$9.2B 5.1%	$8.7B -2.0%	$8.9B
Long Term Investments	$298.0M 0.0%	$298.0M -3.2%	$308.0M -8.1%	$335.0M -13.4%	$387.0M
Deferred Tax Assets	$570.0M -12.3%	$650.0M -3.4%	$673.0M 180.4%	$240.0M 5.3%	$228.0M
Other Noncurrent Assets	$799.0M 11.6%	$716.0M 8.8%	$658.0M 12.7%	$584.0M -3.3%	$604.0M
Total Assets	$27.5B 5.2%	$26.2B 2.0%	$25.7B 3.5%	$24.8B -2.9%	$25.6B
Liabilities
Accounts Payable	$814.0M 6.7%	$763.0M 3.4%	$738.0M -1.1%	$746.0M 2.8%	$726.0M
Accrued Liabilities	$1.4B -0.8%	$1.4B 4.2%	$1.4B 7.0%	$1.3B 9.4%	$1.2B
Other Current Liabilities	$1.4B -12.2%	$1.6B -6.4%	$1.8B 35.3%	$1.3B 11.1%	$1.2B
Total Current Liabilities	$8.4B -2.9%	$8.6B 11.4%	$7.8B 5.8%	$7.3B 14.5%	$6.4B
Long Term Debt	$23.0M -58.2%	$55.0M -1.8%	$56.0M -39.1%	$92.0M -31.9%	$135.0M
Operating Lease Liabilities Noncurrent	$879.0M 10.7%	$794.0M -10.5%	$887.0M -14.2%	$1.0B -5.8%	$1.1B
Deferred Tax Liabilities	$79.0M -2.5%	$81.0M -61.2%	$209.0M -33.2%	$313.0M 85.2%	$169.0M
Other Noncurrent Liabilities	$1.3B -8.1%	$1.4B -7.1%	$1.5B -19.5%	$1.8B -8.0%	$2.0B
Total Liabilities	$8.4B -2.9%	$8.6B 11.4%	$7.8B 5.8%	$7.3B 14.5%	$6.4B
Equity
Preferred Stock	$0	$0	$0	$0	$0
Common Stock	$5.0M 0.0%	$5.0M 0.0%	$5.0M 0.0%	$5.0M 0.0%	$5.0M
Additional Paid In Capital	$6.4B 2.8%	$6.2B 2.1%	$6.1B 1.4%	$6.0B 1.2%	$5.9B
Retained Earnings	$18.4B 11.4%	$16.5B 11.4%	$14.8B 20.2%	$12.3B 19.8%	$10.3B
Treasury Stock	$3.3B -12.4%	$3.8B -4.9%	$4.0B 52.1%	$2.6B -82.0%	$14.4B
Accumulated Other Comprehensive Income	$-642.0M 39.6%	$-1.1B -64.3%	$-647.0M 11.2%	$-729.0M -113.2%	$-342.0M
Total Stockholders Equity	$-3.8B -26.0%	$-3.0B -338.7%	$-682.0M -220.1%	$568.0M -59.8%	$1.4B
Total Liabilitiesand Equity	$27.5B 5.2%	$26.2B 2.0%	$25.7B 3.5%	$24.8B -2.9%	$25.6B

Income Statement

Revenue, expense, and profitability

17 accounts · 5 years

Revenue $26.2B

Operating income $4.1B

Net income $2.6B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	$26.2B 4.3%	$25.1B 5.8%	$23.7B 14.2%	$20.8B 49.9%	$13.9B
Expenses Cost of Revenue	$22.0B 3.3%	$21.3B 7.5%	$19.8B 14.7%	$17.3B 43.0%	$12.1B
Expenses Selling,General and Administrative	$870.0M -7.9%	$945.0M 9.0%	$867.0M -2.7%	$891.0M 8.3%	$823.0M
Expenses Depreciation and Amortization	$313.0M 22.7%	$255.0M 12.8%	$226.0M 14.7%	$197.0M	—
Expenses Share Based Compensation	$236.0M -0.4%	$237.0M 15.6%	$205.0M 6.8%	$192.0M 5.5%	$182.0M
Expenses Operating Expenses	$22.0B 3.3%	$21.3B 7.5%	$19.8B 14.7%	$17.3B 43.0%	$12.1B
Other Income Expense Operating Income	$4.1B 9.9%	$3.8B -2.5%	$3.9B 11.6%	$3.5B 97.8%	$1.8B
Other Income Expense Interest Income	$42.0M 5.0%	$40.0M 33.3%	$30.0M 15.4%	$26.0M -7.1%	$28.0M
Other Income Expense Other Income/expense	$9.0M -71.0%	$31.0M -22.5%	$40.0M 263.6%	$11.0M 10.0%	$10.0M
Other Income Expense Income Before Tax	$3.4B 7.7%	$3.2B -6.7%	$3.4B 8.5%	$3.1B 163.9%	$1.2B
Income Tax Income Tax Expense	$793.0M 2.2%	$776.0M 163.1%	$295.0M -61.0%	$756.0M 833.3%	$81.0M
net Income net Income	$2.6B 9.5%	$2.4B -23.0%	$3.1B 30.7%	$2.4B 114.6%	$1.1B
net Income Comprehensive Income	$3.0B 54.3%	$2.0B -38.1%	$3.2B 60.6%	$2.0B 121.0%	$892.0M
Earnings Per Share Basic Eps	$10 14.0%	$8 -18.3%	$10 40.7%	$7 116.4%	$3
Earnings Per Share Diluted Eps	$10 14.2%	$8 -18.2%	$10 40.6%	$7 116.8%	$3
Earnings Per Share Weighted Average Shares Basic	$272.9M -4.0%	$284.2M -5.7%	$301.5M -7.1%	$324.4M -0.9%	$327.2M
Earnings Per Share Weighted Average Shares Diluted	$273.6M -4.1%	$285.2M -5.8%	$302.9M -7.0%	$325.8M -1.1%	$329.3M

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 5 years

Operating cash flow $3.2B

Investing cash flow $-948.0M

Financing cash flow $-2.3B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	$2.6B 9.5%	$2.4B -23.0%	$3.1B 30.7%	$2.4B 114.6%	$1.1B
Operating Activities Depreciation and Amortization	$145.0M 13.3%	$128.0M 4.9%	$122.0M 7.0%	$114.0M -17.4%	$138.0M
Operating Activities Stock Based Compensation	$236.0M -0.4%	$237.0M 15.6%	$205.0M 6.8%	$192.0M 5.5%	$182.0M
Operating Activities Deferred Income Taxes	$62.0M 180.5%	$-77.0M 85.8%	$-543.0M -450.3%	$155.0M 31.4%	$118.0M
Operating Activities Other Non Cash Items	$176.0M 4300.0%	$4.0M 102.9%	$-138.0M -181.6%	$-49.0M 66.0%	$-144.0M
Operating Activities net Cash From Operating Activities	$3.2B 16.8%	$2.7B -13.3%	$3.2B 34.2%	$2.4B 100.8%	$1.2B
Investing Activities Other Investing Activities	$-10.0M	$0 100.0%	$-33.0M -6.5%	$-31.0M -172.1%	$43.0M
Investing Activities net Cash From Investing Activities	$-948.0M -29.2%	$-734.0M -57.8%	$-465.0M -56.6%	$-297.0M -58.8%	$-187.0M
Financing Activities Proceeds From Debt	$3.4B 16.6%	$2.9B 53.7%	$1.9B 95.1%	$983.0M -45.2%	$1.8B
Financing Activities Repayment of Debt	$1.3B 134.6%	$558.0M -18.4%	$684.0M -14.9%	$804.0M -63.0%	$2.2B
Financing Activities Repurchase of Common Stock	$3.3B -12.3%	$3.8B -4.8%	$4.0B 54.1%	$2.6B	$0
Financing Activities Dividends Paid	$718.0M 5.3%	$682.0M 16.2%	$587.0M 82.9%	$321.0M	$0
Financing Activities Proceeds From Stock Issuance	$92.0M 26.0%	$73.0M 151.7%	$29.0M	$0 -100.0%	$2.0M
Financing Activities Tax Withholding On Stock Based Compensation	$116.0M -15.9%	$138.0M 27.8%	$108.0M 21.3%	$89.0M -1.1%	$90.0M
Financing Activities Other Financing Activities	$0	$0 100.0%	$-25.0M -247.1%	$17.0M 54.5%	$11.0M
Financing Activities net Cash From Financing Activities	$-2.3B -18.5%	$-2.0B 31.7%	$-2.9B 3.3%	$-3.0B -539.7%	$-463.0M
Cash Reconciliation Effect of Exchange Rate On Cash	$371.0M -12.7%	$425.0M 16.1%	$366.0M -30.3%	$525.0M -63.1%	$1.4B
Cash Reconciliation net Change In Cash	$-54.0M -191.5%	$59.0M 137.1%	$-159.0M 82.3%	$-896.0M -270.0%	$527.0M
Cash Reconciliation Cash At Beginning of Period	$371.0M -12.7%	$425.0M 16.1%	$366.0M -30.3%	$525.0M -63.1%	$1.4B
Cash Reconciliation Cash At End of Period	$371.0M -12.7%	$425.0M 16.1%	$366.0M -30.3%	$525.0M -63.1%	$1.4B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+15.8%	+15.0%	+16.3%	+16.7%	+12.6%
Operating margin	+15.8%	+15.0%	+16.3%	+16.7%	+12.6%
Net margin	+9.9%	+9.5%	+13.0%	+11.4%	+7.9%
FCF margin	—	+8.0%	+11.5%	+9.8%	+7.2%
Growth
Revenue CAGR (3y)	+8.0%	+21.9%	+30.9%	-0.3%	-12.6%
Returns
ROE	-69.0%	-79.4%	-452.1%	+415.1%	+77.7%
ROA	+9.4%	+9.1%	+12.0%	+9.5%	+4.3%
ROIC	-77.0%	-84.5%	-355.5%	+1941.9%	+1273.3%
Liquidity
Current ratio	0.43x	0.40x	0.43x	0.45x	0.57x
Quick ratio	0.04x	0.05x	0.05x	0.07x	0.22x
Leverage
D/E	-2.23x	-2.89x	-11.38x	12.92x	4.53x
Interest coverage	—	—	6.84x	8.59x	4.17x
Efficiency
Asset turnover	0.95x	0.96x	0.92x	0.84x	0.54x
Cash conversion cycle	—	—	—	—	—

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Marriott International

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