Overview
MARRIOTT INTERNATIONAL INC /MD/
Latest 10-K: FY2025, filed Feb 10, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $26.19B
- 4.3%YoYup from FY2024
- TotalRevenue
- Gross profit
- Not reported
- Operating income
- $4.14B
- 9.9%YoYup from FY2024
- OperatingIncome
- Net income
- $2.60B
- 9.5%YoYup from FY2024
- NetIncome
- Diluted EPS
- $9.51
- 14.2%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 273.6M
- 4.1%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- MARRIOTT INTERNATIONAL INC /MD/ reported revenue of $26.19B for fiscal 2025, up 4.3% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 4 of the last 5 fiscal years.
Profitability
- Operating margin was 15.8% and net margin was 9.9%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $9.51, up 14.2% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 25, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $26.19B4.3%up S&P 500 6.4% | $25.10B5.8%up S&P 500 4.5% | $23.71B14.2%up S&P 500 4.8% | $20.77B49.9%up S&P 500 10.3% | $13.86B31.1%up S&P 500 13.8% | 17.2% S&P 500 6.6% |
| Gross Profit Median of 315 / 498 | — | — | — | — | — | — S&P 500 6.2% |
| Operating Income Median of 373 / 498 | $4.14B9.9%up S&P 500 7.3% | $3.77B2.5%down S&P 500 7.4% | $3.86B11.6%up S&P 500 4.9% | $3.46B97.8%up S&P 500 7.5% | $1.75B1983.3%up S&P 500 23.5% | 24.0% S&P 500 7.2% |
| Net Income | $2.60B9.5%up S&P 500 4.8% | $2.38B23.0%down S&P 500 5.7% | $3.08B30.7%up S&P 500 1.9% | $2.36B114.6%up S&P 500 1.3% | $1.10Bn/m S&P 500 33.9% | 24.0% S&P 500 4.1% |
| EPS (Diluted) | $9.5114.2%up S&P 500 6.2% | $8.3318.2%down S&P 500 7.9% | $10.1840.6%up S&P 500 1.9% | $7.24116.8%up S&P 500 1.5% | $3.34n/m S&P 500 34.8% | 29.9% S&P 500 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $27.54B5.2%up S&P 500 5.6% | $26.18B2.0%up S&P 500 3.4% | $25.67B3.5%up S&P 500 4.1% | $24.82B2.9%down S&P 500 2.2% | $25.55B3.4%up S&P 500 6.7% | 1.9% S&P 500 4.7% |
| Total Liabilities Median of 357 / 498 | — | — | — | — | — | — S&P 500 4.4% |
| Stockholders' Equity | negative: -$3.77Bn/m S&P 500 6.8% | negative: -$2.99Bn/m S&P 500 5.4% | negative: -$0.68B220.1%down S&P 500 7.3% | $0.57B59.8%down S&P 500 2.5% | $1.41B228.8%up S&P 500 9.0% | n/m S&P 500 6.1% |
| Cash & Equivalents | $0.36B9.6%down S&P 500 5.2% | $0.40B17.2%up S&P 500 1.9% | $0.34B33.3%down S&P 500 6.7% | $0.51B63.6%down S&P 500 -8.6% | $1.39B58.8%up S&P 500 -2.9% | -28.8% S&P 500 2.0% |
| Total Debt Median of 393 / 498 | $16.20B12.2%up S&P 500 2.3% | $14.45B21.7%up S&P 500 0.1% | $11.87B18.0%up S&P 500 0.1% | $10.06B0.7%down S&P 500 0.1% | $10.14B2.3%down S&P 500 0.0% | 12.4% S&P 500 3.7% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.21B16.8%up S&P 500 6.3% | $2.75B13.3%down S&P 500 4.8% | $3.17B34.2%up S&P 500 9.9% | $2.36B100.8%up S&P 500 -0.7% | $1.18B28.2%down S&P 500 10.7% | 28.5% S&P 500 7.0% |
| Capital Expenditures | $604.00M19.5%down S&P 500 5.4% | $750.00M65.9%up S&P 500 2.8% | $452.00M36.1%up S&P 500 11.3% | $332.00M81.4%up S&P 500 14.0% | $183.00M35.6%up S&P 500 8.1% | 34.8% S&P 500 9.0% |
| Free Cash Flow Median of 378 / 498 | $2.61B30.5%up S&P 500 7.3% | $2.00B26.5%down S&P 500 6.1% | $2.72B33.8%up S&P 500 8.8% | $2.03B104.3%up S&P 500 -11.3% | $0.99B33.9%down S&P 500 10.2% | 27.3% S&P 500 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
S&P 500 median = median of the companies in the index on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-20. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
3.1%
Wall Street
on net earnings
FY2024 3.0%
3.1%
Value investor
on free cash flow
FY2024 2.5%
Gap Same: Both views read the same
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 32.6×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
4.4%
Wall Street
on EBITDA
FY2024 4.3%
4.1%
Value investor
on EBIT
FY2024 4.0%
Gap −0.3 pts: Value-investor figure 0.3 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 22.6×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
n/m
Wall Street
on book equity
FY2024 n/m
n/m
Value investor
on tangible book
FY2024 n/m
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
n/m
Wall Street
ROE: net income ÷ equity
FY2024 n/m
15.9%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 15.3%
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
17.0%
Wall Street
EBITDA margin
FY2024 16.0%
10.0%
Value investor
Free-cash-flow margin
FY2024 8.0%
Gap −7.0 pts: Value-investor figure 7.0 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
0.43×
Wall Street
Current ratio
FY2024 0.40×
0.43×
Value investor
Quick ratio, inventory excluded
FY2024 0.40×
Gap Same: Both views read the same
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
0.27×
Wall Street
EBITDA ÷ total debt
FY2024 0.28×
0.16×
Value investor
FCF ÷ total debt
FY2024 0.14×
Gap −0.11×: Value-investor figure 0.11 lower
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net debt/EBITDA 3.56×Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Balance sheet · Interest cover
How many times earnings pay the year's interest
5.5×
Wall Street
EBITDA ÷ interest
FY2024 5.8×
5.1×
Value investor
EBIT ÷ interest
FY2024 5.4×
Gap −0.4×: Value-investor figure 0.4 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on MAR yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on MAR and publish the result to your public profile.
Cite this page
Data as of Oct 25, 2026. Canonical address: https://valuein.biz/data/MAR
Valuein. (2026, October 25). MARRIOTT INTERNATIONAL INC /MD/ (MAR) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/MAR
@misc{valuein_mar_2026,
author = {{Valuein}},
title = {MARRIOTT INTERNATIONAL INC /MD/ (MAR) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/MAR}},
note = {Data as of 2026-10-25; source: SEC EDGAR filings}
}10-K filed Feb 10, 2026 · accession 0001048286-26-000007
Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.
point-in-time · survivorship-free · every number traceable to its SEC filing