Cash flow Marriott International, Inc.

Equities

MAR

US5719032022

Hotels, Motels & Cruise Lines

Market Closed - Nasdaq Other stock markets 04:00:00 2025-07-09 pm EDT			5-day change	1st Jan Change
279.19 ^USD	-0.28%		+0.40%	+0.09%

Jul. 08	Caliber Announces Chief Operating Officer Changes, Effective July 7, 2025	CI
Jul. 08	HSBC Adjusts Price Target on Marriott International to $332 From $288, Maintains Buy Rating	MT

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Published financial data: MARRIOTT INTERNATIONAL, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	2.25B	3.49B	5.44B	6.39B	6.72B
Other Revenues, Total	-132M	-75M	-89M	-88M	-103M
Total Revenues	2.12B	3.42B	5.36B	6.3B	6.62B
Cost of Goods Sold, Total	677M	762M	1.07B	1.16B	1.2B
Gross Profit	1.44B	2.65B	4.28B	5.14B	5.42B
Selling General & Admin Expenses, Total	1.04B	1.31B	1.53B	1.8B	2.07B
Depreciation & Amortization - (IS)	230M	220M	193M	189M	183M
Other Operating Expenses	-293M	-590M	-911M	-783M	-707M
Other Operating Expenses, Total	975M	941M	808M	1.21B	1.54B
Operating Income	467M	1.71B	3.47B	3.92B	3.88B
Interest Expense, Total	-445M	-420M	-403M	-565M	-695M
Interest And Investment Income	27M	28M	26M	30M	40M
Net Interest Expenses	-418M	-392M	-377M	-535M	-655M
Income (Loss) On Equity Invest.	-141M	-24M	18M	9M	8M
Other Non Operating Income (Expenses)	12M	10M	11M	40M	31M
EBT, Excl. Unusual Items	-80M	1.31B	3.13B	3.44B	3.26B
Restructuring Charges	-267M	-8M	-12M	-	-68M
Merger & Related Restructuring Charges	-	-	-	-60M	-40M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-3M	-	-	-	-
Asset Writedown	-116M	-	-	-	-
Legal Settlements	-	18M	-	-	-
Other Unusual Items	-	-136M	-	-	-
EBT, Incl. Unusual Items	-466M	1.18B	3.11B	3.38B	3.15B
Income Tax Expense	-199M	81M	756M	295M	776M
Earnings From Continuing Operations	-267M	1.1B	2.36B	3.08B	2.38B
Net Income to Company	-267M	1.1B	2.36B	3.08B	2.38B
Net Income - (IS)	-267M	1.1B	2.36B	3.08B	2.38B
Net Income to Common Incl Extra Items	-267M	1.1B	2.36B	3.08B	2.38B
Net Income to Common Excl. Extra Items	-267M	1.1B	2.36B	3.08B	2.38B
Per Share Items
Net EPS - Basic	-0.82	3.36	7.27	10.23	8.36
Basic EPS - Continuing Operations	-0.82	3.36	7.27	10.23	8.36
Basic Weighted Average Shares Outstanding	326M	327M	324M	302M	284M
Net EPS - Diluted	-0.82	3.34	7.24	10.18	8.33
Diluted EPS - Continuing Operations	-0.82	3.34	7.24	10.18	8.33
Diluted Weighted Average Shares Outstanding	326M	329M	326M	303M	285M
Normalized Basic EPS	-0.15	2.49	6.02	7.13	7.17
Normalized Diluted EPS	-0.15	2.48	6	7.09	7.14
Dividend Per Share	0.48	-	1	1.96	2.41
Payout Ratio	-58.43	-	13.61	19.04	28.72
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	886M	2.02B	3.76B	4.27B	4.26B
EBITA	564M	1.88B	3.67B	4.15B	4.13B
EBIT	467M	1.71B	3.47B	3.92B	3.88B
EBITDAR	1.1B	2.22B	4.01B	4.56B	4.52B
Total Revenues (As Reported)	10.57B	13.86B	20.77B	23.71B	25.1B
Effective Tax Rate - (Ratio)	42.7	6.86	24.28	8.73	24.63
Current Domestic Taxes	32M	-123M	446M	589M	571M
Current Foreign Taxes	78M	86M	155M	249M	282M
Total Current Taxes	110M	-37M	601M	838M	853M
Deferred Domestic Taxes	-261M	159M	154M	-110M	-144M
Deferred Foreign Taxes	-48M	-41M	1M	-433M	67M
Total Deferred Taxes	-309M	118M	155M	-543M	-77M
Normalized Net Income	-50M	816M	1.95B	2.15B	2.04B
Interest Capitalized	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	276M	470M	635M	794M	993M
Selling and Marketing Expenses	276M	470M	635M	794M	993M
General and Administrative Expenses	762M	841M	891M	1.01B	1.07B
Net Rental Expense, Total	217M	200M	255M	283M	265M
Imputed Operating Lease Interest Expense	66.32M	59.12M	72.79M	106M	104M
Imputed Operating Lease Depreciation	151M	141M	182M	177M	161M
Stock-Based Comp., Other (Total)	201M	182M	192M	205M	237M
Total Stock-Based Compensation	201M	182M	192M	205M	237M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	877M	1.39B	507M	338M	396M
Total Cash And Short Term Investments	877M	1.39B	507M	338M	396M
Accounts Receivable, Total	1.77B	1.98B	2.57B	2.71B	2.8B
Notes Receivable	-	-	-	-	-
Total Receivables	1.77B	1.98B	2.57B	2.71B	2.8B
Prepaid Expenses	172M	251M	235M	261M	294M
Other Current Assets, Total	8M	-	-	-	-
Total Current Assets	2.82B	3.63B	3.31B	3.31B	3.48B
Gross Property Plant And Equipment	3.15B	3.42B	3.45B	3.4B	3.56B
Accumulated Depreciation	-888M	-850M	-874M	-890M	-881M
Net Property Plant And Equipment	2.27B	2.56B	2.57B	2.51B	2.68B
Long-term Investments	422M	387M	335M	308M	298M
Goodwill	9.18B	9.07B	8.87B	8.89B	8.73B
Other Intangibles, Total	8.99B	8.93B	8.75B	9.19B	9.49B
Loans Receivable Long-Term	159M	144M	152M	138M	136M
Deferred Tax Assets Long-Term	249M	228M	240M	673M	650M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	616M	604M	584M	658M	716M
Total Assets	24.7B	25.55B	24.82B	25.67B	26.18B
Liabilities
Accounts Payable, Total	527M	726M	746M	738M	763M
Accrued Expenses, Total	1.98B	1.83B	2.46B	3.01B	2.92B
Current Portion of Long-Term Debt	1.17B	798M	676M	545M	1.3B
Current Portion of Leases	154M	157M	114M	113M	113M
Unearned Revenue Current, Total	1.77B	2.87B	3.31B	3.33B	3.49B
Other Current Liabilities	159M	32M	32M	29M	70M
Total Current Liabilities	5.75B	6.41B	7.34B	7.76B	8.65B
Long-Term Debt	9.06B	9.19B	9.25B	11.2B	13.02B
Long-Term Leases	969M	1.24B	1.16B	1.01B	909M
Unearned Revenue Non Current	6.04B	5.13B	4.34B	4.7B	5.14B
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non Current	83M	169M	313M	209M	81M
Other Non Current Liabilities	2.37B	2B	1.84B	1.48B	1.38B
Total Liabilities	24.27B	24.14B	24.25B	26.36B	29.17B
Common Stock, Total	5M	5M	5M	5M	5M
Additional Paid In Capital	5.85B	5.89B	5.96B	6.05B	6.18B
Retained Earnings	9.21B	10.3B	12.34B	14.84B	16.53B
Treasury Stock	-14.5B	-14.45B	-17.02B	-20.93B	-24.64B
Comprehensive Income and Other	-135M	-342M	-729M	-647M	-1.06B
Total Common Equity	430M	1.41B	568M	-682M	-2.99B
Total Equity	430M	1.41B	568M	-682M	-2.99B
Total Liabilities And Equity	24.7B	25.55B	24.82B	25.67B	26.18B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	324M	326M	308M	289M	276M
ECS Total Common Shares Outstanding	324M	326M	311M	290M	277M
Book Value / Share	1.33	4.33	1.83	-2.35	-10.81
Tangible Book Value	-17.73B	-16.58B	-17.05B	-18.76B	-21.21B
Tangible Book Value Per Share	-54.67	-50.83	-54.9	-64.57	-76.66
Total Debt	11.35B	11.39B	11.2B	12.86B	15.34B
Net Debt	10.47B	9.99B	10.7B	12.53B	14.95B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	-	-
Debt Equivalent Oper. Leases	1.74B	1.6B	2.04B	2.26B	2.12B
Equity Method Investments, Total	422M	387M	335M	308M	298M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	688M	686M	688M	669M	768M
Buildings, Total	1.04B	985M	1.09B	1.11B	1.24B
Machinery, Total	640M	545M	649M	622M	619M
Full Time Employees	121K	120K	377K	411K	418K
Accumulated Allowance for Doubtful Accounts (Supple)	207M	187M	191M	197M	199M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	-267M	1.1B	2.36B	3.08B	2.38B
Depreciation & Amortization - CF	322M	138M	85M	122M	128M
Amortization of Goodwill and Intangible Assets - (CF)	97M	165M	197M	226M	255M
Depreciation & Amortization, Total	419M	303M	282M	348M	383M
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	103M
(Gain) Loss From Sale Of Asset	3M	-3M	-	-	-
Asset Writedown & Restructuring Costs	316M	-10M	-8M	-	-278M
Stock-Based Compensation (CF)	201M	182M	192M	205M	237M
Other Operating Activities, Total	995M	-504M	81M	-535M	11M
Change in Other Net Operating Assets	-28M	110M	-542M	69M	-82M
Cash from Operations	1.64B	1.18B	2.36B	3.17B	2.75B
Capital Expenditure	-135M	-183M	-332M	-452M	-776M
Sale of Property, Plant, and Equipment	260M	12M	1M	71M	16M
Cash Acquisitions	-	-	-	-101M	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-33M	27M	3M	-16M	26M
Other Investing Activities, Total	-57M	-43M	31M	33M	-
Cash from Investing	35M	-187M	-297M	-465M	-734M
Long-Term Debt Issued, Total	3.56B	1.94B	983M	2.46B	3.11B
Total Debt Issued	3.56B	1.94B	983M	2.46B	3.11B
Long-Term Debt Repaid, Total	-4.18B	-2.17B	-986M	-684M	-558M
Total Debt Repaid	-4.18B	-2.17B	-986M	-684M	-558M
Issuance of Common Stock	-	2M	-	29M	73M
Repurchase of Common Stock	-253M	-90M	-2.66B	-4.06B	-3.9B
Common Dividends Paid	-156M	-	-321M	-587M	-682M
Common & Preferred Stock Dividends Paid	-156M	-	-321M	-587M	-682M
Other Financing Activities, Total	-8M	-144M	17M	-25M	-
Cash from Financing	-1.03B	-463M	-2.96B	-2.86B	-1.96B
Net Change in Cash	641M	527M	-896M	-159M	59M
Supplemental Items
Cash Interest Paid	377M	391M	345M	476M	599M
Cash Income Tax Paid (Refund)	279M	362M	476M	907M	947M
Levered Free Cash Flow	315M	1.84B	2.59B	2.59B	1.95B
Unlevered Free Cash Flow	593M	2.11B	2.84B	2.94B	2.38B
Change In Net Working Capital	184M	-735M	-524M	-388M	-16M
Net Debt Issued / Repaid	-616M	-231M	-3M	1.78B	2.55B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	1.17	4.26	8.62	9.71	9.34
Return on Total Capital	2.39	8.71	17.67	20.48	19.74
Return On Equity %	-47.13	119.2	237.94	-5.41K	-129.29
Return on Common Equity	-47.13	119.2	237.94	-5.41K	-129.29
Margin Analysis
Gross Profit Margin %	68.05	77.69	79.95	81.51	81.87
SG&A Margin	48.99	38.39	28.49	28.65	31.23
EBITDA Margin %	41.81	59	70.13	67.81	64.34
EBITA Margin %	26.62	54.96	68.54	65.87	62.41
EBIT Margin %	22.04	50.13	64.86	62.29	58.55
Income From Continuing Operations Margin %	-12.6	32.18	44.03	48.94	35.89
Net Income Margin %	-12.6	32.18	44.03	48.94	35.89
Net Avail. For Common Margin %	-12.6	32.18	44.03	48.94	35.89
Normalized Net Income Margin	-2.36	23.9	36.48	34.11	30.78
Levered Free Cash Flow Margin	14.85	54.01	48.27	41.09	29.47
Unlevered Free Cash Flow Margin	27.98	61.7	52.97	46.69	36.04
Asset Turnover
Asset Turnover	0.09	0.14	0.21	0.25	0.26
Fixed Assets Turnover	0.84	1.41	2.09	2.48	2.55
Receivables Turnover (Average Receivables)	1.08	1.86	2.39	2.42	2.44
Short Term Liquidity
Current Ratio	0.49	0.57	0.45	0.43	0.4
Quick Ratio	0.46	0.53	0.42	0.39	0.37
Operating Cash Flow to Current Liabilities	0.28	0.18	0.32	0.41	0.32
Days Sales Outstanding (Average Receivables)	338.44	196.1	152.6	150.93	149.95
Average Days Payable Outstanding	337.08	300.09	250.13	232.47	228.9
Long Term Solvency
Total Debt/Equity	2.64K	805.23	1.97K	-1.89K	-512.87
Total Debt / Total Capital	96.35	88.95	95.17	105.6	124.22
LT Debt/Equity	2.33K	737.69	1.83K	-1.79K	-465.64
Long-Term Debt / Total Capital	85.14	81.49	88.46	100.2	112.78
Total Liabilities / Total Assets	98.26	94.47	97.71	102.66	111.43
EBIT / Interest Expense	1.05	4.08	8.62	6.95	5.58
EBITDA / Interest Expense	2.48	5.27	9.95	8.06	6.51
(EBITDA - Capex) / Interest Expense	2.18	4.84	9.13	7.26	5.39
Total Debt / EBITDA	10.29	5.14	2.79	2.82	3.39
Net Debt / EBITDA	9.49	4.51	2.67	2.75	3.31
Total Debt / (EBITDA - Capex)	11.72	5.6	3.05	3.14	4.1
Net Debt / (EBITDA - Capex)	10.82	4.92	2.91	3.05	3.99
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-60.56	61.16	56.84	17.62	5.05
Gross Profit, 1 Yr. Growth %	-64.46	83.98	59.72	19.92	5.51
EBITDA, 1 Yr. Growth %	-64.39	127.43	84.57	12.87	-0.33
EBITA, 1 Yr. Growth %	-73.67	232.8	92.7	13.05	-0.48
EBIT, 1 Yr. Growth %	-77.07	266.6	99.66	12.95	-1.25
Earnings From Cont. Operations, 1 Yr. Growth %	-120.97	-511.61	114.56	30.75	-22.96
Net Income, 1 Yr. Growth %	-120.97	-511.61	114.56	30.75	-22.96
Normalized Net Income, 1 Yr. Growth %	-104.74	-1.67K	134.33	9.98	-4.54
Diluted EPS Before Extra, 1 Yr. Growth %	-121.58	-507.32	116.77	40.61	-18.17
Accounts Receivable, 1 Yr. Growth %	-26.18	12.1	29.72	5.48	3.06
Net Property, Plant and Equip., 1 Yr. Growth %	-18.84	13.2	0.27	-2.41	6.69
Total Assets, 1 Yr. Growth %	-1.4	3.45	-2.89	3.46	1.98
Tangible Book Value, 1 Yr. Growth %	4.4	-6.48	2.81	10.01	13.08
Common Equity, 1 Yr. Growth %	-38.83	228.84	-59.83	-220.07	338.71
Cash From Operations, 1 Yr. Growth %	-2.73	-28.19	100.76	34.15	-13.28
Capital Expenditures, 1 Yr. Growth %	-79.33	35.56	81.42	36.14	40.33
Levered Free Cash Flow, 1 Yr. Growth %	-32.44	486.02	39.45	-0.99	-24.26
Unlevered Free Cash Flow, 1 Yr. Growth %	-16.75	255.39	34.05	2.63	-18.56
Dividend Per Share, 1 Yr. Growth %	-74.05	-	-	96	22.96
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-36.26	-20.28	58.98	35.82	11.16
Gross Profit, 2 Yr. CAGR %	-39.26	-19.13	72.32	38.4	12.49
EBITDA, 2 Yr. CAGR %	-44.61	-10.01	112.86	43.97	6.06
EBITA, 2 Yr. CAGR %	-53.71	-6.39	155.12	46.9	6.07
EBIT, 2 Yr. CAGR %	-56.96	-8.32	172.74	49.4	5.61
Earnings From Cont. Operations, 2 Yr. CAGR %	-62.58	-7.09	197.18	67.49	0.36
Net Income, 2 Yr. CAGR %	-62.58	-7.09	197.18	67.49	0.36
Normalized Net Income, 2 Yr. CAGR %	-81.37	-15.66	513.7	59.46	2.11
Diluted EPS Before Extra, 2 Yr. CAGR %	-60.96	-6.25	197.14	74.58	7.26
Accounts Receivable, 2 Yr. CAGR %	-8.96	-9.03	20.59	16.98	4.27
Net Property, Plant and Equip., 2 Yr. CAGR %	7.63	-4.15	6.54	-1.08	2.04
Total Assets, 2 Yr. CAGR %	2.1	1	0.23	0.24	2.72
Tangible Book Value, 2 Yr. CAGR %	8.04	-1.19	-1.94	6.35	11.53
Common Equity, 2 Yr. CAGR %	-56.04	41.82	14.93	-30.55	129.51
Cash From Operations, 2 Yr. CAGR %	-16.61	-16.42	20.07	64.11	7.86
Capital Expenditures, 2 Yr. CAGR %	-50.72	-47.06	56.82	57.16	52.88
Levered Free Cash Flow, 2 Yr. CAGR %	-54.5	98.98	216.71	17.55	-15.06
Unlevered Free Cash Flow, 2 Yr. CAGR %	-41.5	72.01	130.1	17.36	-10.17
Dividend Per Share, 2 Yr. CAGR %	-44.53	-	44.34	-	55.24
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-24.87	-13.16	-0.11	43.79	24.67
Gross Profit, 3 Yr. CAGR %	-26.19	-12.12	1.82	52.71	26.43
EBITDA, 3 Yr. CAGR %	-33.48	-11.31	14.72	72.73	27.36
EBITA, 3 Yr. CAGR %	-41.23	-10.66	19.67	94.5	29.02
EBIT, 3 Yr. CAGR %	-44.03	-12.1	19.48	103.3	30.14
Earnings From Cont. Operations, 3 Yr. CAGR %	-43.23	-16.78	22.81	126.02	29.29
Net Income, 3 Yr. CAGR %	-43.23	-16.78	22.81	126.02	29.29
Normalized Net Income, 3 Yr. CAGR %	-68.06	-17.26	19.41	246	34.08
Diluted EPS Before Extra, 3 Yr. CAGR %	-40.23	-14.69	23.97	131.55	35.61
Accounts Receivable, 3 Yr. CAGR %	-3.59	-2.42	2.39	15.33	12.14
Net Property, Plant and Equip., 3 Yr. CAGR %	8.12	9.46	-2.7	3.47	1.45
Total Assets, 3 Yr. CAGR %	1.18	2.55	-0.32	1.3	0.81
Tangible Book Value, 3 Yr. CAGR %	7.77	2.96	0.13	1.89	8.55
Common Equity, 3 Yr. CAGR %	-50.67	-14.02	-6.86	16.62	28.38
Cash From Operations, 3 Yr. CAGR %	-9.71	-20.66	11.93	24.59	32.68
Capital Expenditures, 3 Yr. CAGR %	-17.45	-30.96	-20.19	49.6	61.86
Levered Free Cash Flow, 3 Yr. CAGR %	-49.88	6.66	77.05	115.75	1.36
Unlevered Free Cash Flow, 3 Yr. CAGR %	-39.52	6.74	58.53	76.4	3.75
Dividend Per Share, 3 Yr. CAGR %	-28.07	-	-18.54	59.83	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-5.79	-0.34	1.4	3.85	4.26
Gross Profit, 5 Yr. CAGR %	-7.44	0.62	3.61	5.61	5.96
EBITDA, 5 Yr. CAGR %	-10.55	0.17	4.53	8.15	11.35
EBITA, 5 Yr. CAGR %	-16.8	0.39	5.73	9.53	14.03
EBIT, 5 Yr. CAGR %	-19.13	-1.11	5.46	9.25	13.72
Earnings From Cont. Operations, 5 Yr. CAGR %	-20.84	6.34	10.08	10.08	13.28
Net Income, 5 Yr. CAGR %	-20.84	6.34	10.08	10.08	13.28
Normalized Net Income, 5 Yr. CAGR %	-42.11	-4.29	4.96	8.32	12.16
Diluted EPS Before Extra, 5 Yr. CAGR %	-23.6	4.12	13.52	13.6	17
Accounts Receivable, 5 Yr. CAGR %	10.02	3.21	5.44	4.92	3.14
Net Property, Plant and Equip., 5 Yr. CAGR %	17.1	1.9	7.48	5.11	-0.83
Total Assets, 5 Yr. CAGR %	32.35	1.14	0.8	1.62	0.89
Tangible Book Value, 5 Yr. CAGR %	24.27	7.58	3.77	4.3	4.54
Common Equity, 5 Yr. CAGR %	-34.59	-23.39	-30.81	-21.06	33.6
Cash From Operations, 5 Yr. CAGR %	1.59	-6.18	1.19	6.11	10.28
Capital Expenditures, 5 Yr. CAGR %	-15.04	-1.66	6.71	-4.06	3.51
Levered Free Cash Flow, 5 Yr. CAGR %	-21.57	-0.23	0.68	11.23	33.16
Unlevered Free Cash Flow, 5 Yr. CAGR %	-12.63	0.92	1.15	11.17	27.34
Dividend Per Share, 5 Yr. CAGR %	-12.76	-	-4.97	4.67	5.43