FirmAtlas
Company handbook · MAR · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
MAR · CIK 1048286 · LATEST FILING: 10-Q JUN '26 · FILED AUG 3, 2026
MARRIOTT INTERNATIONAL INC /MD/
$388.05
+2.34 (+0.61%)
Close, Oct 16, 2026 · 52-week $257–411
Last fiscal year
MARRIOTT INTERNATIONAL INC /MD/ reported revenue of $26.2B for the year ended Dec 31, 2025 (FY25), up 4.3% from FY24. Net income was $2.6B, operating cash flow $3.2B and free cash flow $2.6B. Source: 10-K filed Feb 10, 2026.
Market cap
$103.2B
P/E
39.9
EV/EBITDA
27.8x
P/B
n/m
Div yield
0.72%
ROIC
27.5%
Revenue 1Y
4.3%/yr
EPS 1Y
14.2%/yr
Shares 1Y
−4%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOAnthony G. Capuano
HQBethesda, MD
AuditorErnst & Young LLP
Employees148,000
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
19.1%
19.4%
25.3%
49.8%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$9.8B deployed
Capex
$1.4B
13.8%
Dividends
$1.4B
14.3%
Buybacks
$7.1B
71.9%
Operating cash flow over the period: $6.0B. Total debt changed by +$1.8B.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
Per-share figures are split-adjusted (2-for-1 split after FY15).
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
25,100
26,186+4.3%
26,904
YoY
+4.3%
Operating income
3,767
4,141+9.9%
4,250
Operating margin
15.0%
15.8%+0.8 pp
—
EBITDA
3,895
4,286+10.0%
—
EBITDA margin
15.5%
16.4%+0.8 pp
—
Interest expense
695
809+16.4%
—
Interest coverage
5.60x
5.30x−0.31x
—
Net income
2,375
2,601+9.5%
2,587
YoY
+9.5%
Net margin
9.5%
9.9%+0.5 pp
—
EPS (diluted, $)
8.33
9.51+14.2%
9.67
YoY
+14.2%
Balance sheet
Total assets
26,182
27,540+5.2%
28,085
Cash & short-term investments
425
371−12.7%
—
Net PP&E
1,833
1,954+6.6%
—
Other assets
23,924
25,215+5.4%
—
Total liabilities
29,174
31,311+7.3%
32,610
Total debt
14,447
16,204+12.2%
16,915
Other liabilities
14,727
15,107+2.6%
—
Shareholders’ equity
(2,992)
(3,771)n/m
(4,525)
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
2,749
3,212+16.8%
3,728
Net income
2,375
2,601+9.5%
—
Depreciation & amortization
128
145+13.3%
—
Stock-based compensation
237
236−0.4%
—
Working capital & other
9
230+2455.6%
—
Cash from investing
(734)
(948)n/m
—
Capex
(750)
(604)n/m
—
PP&E sold
16
9−43.8%
—
Other investing
0
(353)n/m
—
Cash from financing
(1,956)
(2,318)n/m
—
Debt raised
2,948
3,436+16.6%
—
Debt repaid
(558)
(1,309)n/m
—
Dividends
(682)
(718)n/m
—
Buybacks
(3,762)
(3,300)n/m
—
Shares issued
73
92+26.0%
—
Other financing
25
(519)−2176.0%
—
Net change in cash
59
(54)−191.5%
—
Free cash flow (OCF − capex)
1,999
2,608+30.5%
3,132
Where the cash went
Operating cash flow
2,749
3,212+16.8%
3,728
Reinvested in the business
750
604−19.5%
—
% of operating cash flow
27.3%
18.8%
Capex
750
604−19.5%
596
Free cash flow
1,999
2,608+30.5%
3,132
YoY
+30.5%
Returned to shareholders
4,444
4,018−9.6%
—
% of free cash flow
222.3%
154.1%
Dividends
682
718+5.3%
—
Buybacks
3,762
3,300−12.3%
—
Change in total debt
—
1,757
—
Cash left over
—
347
—
FCF conversion (FCF ÷ net income)
84.2%
100.3%+16.1 pp
—
Buyback yield
4.9%
4.0%−0.9 pp
—
Returns & ratios
ROIC (all capital)
25.7%
27.5%+1.7 pp
—
ROIC (operating)
154.9%
167.6%+12.7 pp
—
Net debt / EBITDA
3.60x
3.69x+0.09x
—
ROE
−79.4%
−69.0%+10.4 pp
—
ROA
9.1%
9.4%+0.4 pp
—
ROCE
21.5%
21.6%+0.1 pp
—
NOPAT
2,839
3,173+11.8%
—
Invested capital (operating)
1,833
1,954+6.6%
—
Invested capital (all)
11,030
12,062+9.4%
—
Reinvestment rate
—
3.8%
—
Net debt is 3.7x EBITDA (FY25).
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
6,489
6,690
6,654
7,071
vs year-ago quarter
Operating income
1,180
777
1,064
1,229
Net income
728
445
648
766
vs year-ago quarter
Net margin
11.2%
6.7%
9.7%
10.8%
EPS (diluted, $)
2.67
1.67
2.43
2.90
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
27,833
27,540
27,857
28,085
Cash & equivalents
694
371
468
472
Total debt
15,999
16,204
16,530
16,915
Shareholders’ equity
(3,119)
(3,771)
(4,092)
(4,525)
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
1,093
829
858
948
Capex
142
172
130
152
Free cash flow
951
657
728
796
vs year-ago quarter