Tearsheet

Marriott International (MAR)


Market Price (9/16/2025): $265.11 | Market Cap: $72.7 Bil
Sector: Consumer Discretionary | Industry: Hotels, Resorts & Cruise Lines

Marriott International (MAR)


Market Price (9/16/2025): $265.11
Market Cap: $72.7 Bil
Sector: Consumer Discretionary
Industry: Hotels, Resorts & Cruise Lines

Investment Highlights

0 Attractive cash flow generation
CFO LTM is 2.5 Bil
Weak multi-year price returns
2Y Excs Rtn is -15%
Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 29x
1 Low stock price volatility
Vol 12M is 28%
  
0 Attractive cash flow generation
CFO LTM is 2.5 Bil
1 Low stock price volatility
Vol 12M is 28%
2 Weak multi-year price returns
2Y Excs Rtn is -15%
3 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 29x

Market Valuation

 9/16/252024202320222021
Share Price CYE$265.11$276.90$221.65$144.82$159.73
Market Cap CYE ($ Bil)72.777.365.245.852.4
Total Debt ($ Bil)16.515.212.811.111.2
Total Cash ($ Bil)0.70.40.30.51.4
Enterprise Value ($ Bil)88.692.578.056.963.6
Valuation Ratios     
P/S TTM2.83.22.92.33.9
P/EBIT TTM18.420.617.213.733.8
P/E TTM29.533.422.120.549.2
Sector Ratios     
P/S TTM (Sector)0.80.80.90.81.3
P/EBIT TTM (Sector)7.36.97.05.57.4
P/E TTM (Sector)9.68.18.97.39.2
 9/16/2520242023
Share Price CYE$265.11$276.90$221.65
Market Cap CYE ($ Bil)72.777.365.2
Total Debt ($ Bil)16.515.212.8
Total Cash ($ Bil)0.70.40.3
Enterprise Value ($ Bil)88.692.578.0
Valuation Ratios   
P/S TTM2.83.22.9
P/EBIT TTM18.420.617.2
P/E TTM29.533.422.1
Sector Ratios   
P/S TTM (Sector)0.80.80.9
P/EBIT TTM (Sector)7.36.97.0
P/E TTM (Sector)9.68.18.9

Business Description

Marriott International, Inc. operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through U.S. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
MAR Return-13%25%-9%53%25%-4%83%
Peers Return0%37%-19%20%21%-11%42%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HLT, H, WH, MTN, CHH. See MAR Returns vs. Peers.
[3] 2025 data is for the year up to 9/15/2025 (YTD)

Latest Trefis Analyses

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Peer Comparisons for Marriott International

Financials

MARHLTHWHMTNCHHMedian
NameMarriott.Hilton W.Hyatt Ho.Wyndham .Vail Res.Choice H. 
Mkt Price265.14271.25140.3884.12147.01109.78143.69
Mkt Cap72.764.313.46.55.55.19.9
Rev LTM25,69111,4826,7571,4502,9581,5774,858
Op Inc LTM3,9502,428439587553476570
FCF LTM1,6822,147132290397166343
FCF 3Y Avg2,2731,876420275385185402
CFO LTM2,4882,356300342632322487
CFO 3Y Avg2,8412,074603317630313617

Growth & Margins

MARHLTHWHMTNCHHMedian
NameMarriott.Hilton W.Hyatt Ho.Wyndham .Vail Res.Choice H. 
Rev Chg LTM5.1%6.3%0.9%3.9%2.4%1.7%3.2%
Rev Chg 3Y Avg13.2%15.4%14.2%-3.2%6.6%9.1%11.1%
Rev Chg Q4.7%6.3%6.2%8.2%1.0%-2.0%5.5%
QoQ Delta Rev Chg LTM1.2%1.6%1.6%2.1%0.4%-0.5%1.4%
Op Mgn LTM15.4%21.1%6.5%40.5%18.7%30.2%19.9%
Op Mgn 3Y Avg16.4%22.1%6.1%37.7%19.7%29.3%20.9%
QoQ Delta Op Mgn LTM-0.0%0.1%-0.8%0.5%-0.5%-0.4%-0.2%
CFO/Rev LTM9.7%20.5%4.4%23.6%21.4%20.4%20.5%
CFO/Rev 3Y Avg11.7%19.4%9.1%22.3%21.6%20.1%19.8%
FCF/Rev LTM6.5%18.7%2.0%20.0%13.4%10.5%12.0%
FCF/Rev 3Y Avg9.4%17.6%6.3%19.4%13.2%11.9%12.6%

Valuation

MARHLTHWHMTNCHHMedian
NameMarriott.Hilton W.Hyatt Ho.Wyndham .Vail Res.Choice H. 
Mkt Cap72.764.313.46.55.55.19.9
P/S2.85.62.04.51.93.23.0
P/EBIT18.426.115.011.49.410.213.2
P/E29.540.531.119.318.916.524.4
P/CFO29.227.344.718.98.715.723.1
Total Yield4.4%2.6%3.6%7.1%6.8%6.1%5.2%
Dividend Yield1.0%0.1%0.4%1.9%1.5%0.0%0.7%
FCF Yield 3Y Avg3.5%3.7%3.1%4.6%5.4%3.2%3.6%
D/E0.20.20.50.40.50.40.4
Net D/E0.20.20.40.40.50.40.4

Returns

MARHLTHWHMTNCHHMedian
NameMarriott.Hilton W.Hyatt Ho.Wyndham .Vail Res.Choice H. 
1M Rtn-0.0%1.4%-0.4%-3.9%-4.2%-10.0%-2.1%
3M Rtn3.1%9.7%4.3%5.8%-4.1%-11.0%3.7%
6M Rtn7.4%15.7%11.2%-7.8%-7.0%-16.7%0.2%
12M Rtn15.5%25.4%-3.2%9.7%-13.9%-11.5%3.2%
3Y Rtn76.4%109.4%59.4%37.8%-24.7%0.1%48.6%
1M Excs Rtn-2.8%-1.9%-3.9%-7.1%-5.8%-12.8%-4.9%
3M Excs Rtn-6.4%0.6%-3.0%-3.9%-12.2%-22.2%-5.1%
6M Excs Rtn-7.7%1.1%-2.2%-22.5%-22.6%-32.7%-15.1%
12M Excs Rtn-1.3%9.4%-22.0%-7.8%-31.4%-27.5%-14.9%
3Y Excs Rtn6.3%40.8%-9.2%-31.2%-91.6%-65.3%-20.2%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Single Segment23,71320,773   
Base management fees  6694431,180
Contract investment amortization  -75-132-62
Cost reimbursement revenue  10,4428,45215,599
Franchise fees  1,7901,1532,006
Incentive management fees  23587637
Owned, leased, and other revenue  7965681,612
Total23,71320,77313,85710,57120,972


Price Behavior

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity6,932,251
Short Interest: % Change Since 81520258.6%
Average Daily Volume1,102,158
Days-to-Cover Short Interest6.29
Basic Shares Quantity274,200,000
Short % of Basic Shares2.5%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/20250.2%-0.4%2.6%
5/6/20251.9%10.0%6.2%
2/11/2025-5.4%-5.3%-19.7%
11/4/2024-1.6%7.8%9.6%
7/31/2024-4.8%-9.9%-4.5%
5/1/2024-1.0%-0.1%-2.8%
2/13/2024-5.6%-2.4%1.2%
11/2/2023-1.6%2.0%11.1%
...
SUMMARY STATS   
# Positive121114
# Negative121310
Median Positive2.9%2.9%8.0%
Median Negative-2.9%-2.3%-5.1%
Max Positive5.8%19.9%31.8%
Max Negative-5.6%-9.9%-30.8%

SEC Filings

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Report DateFiling DateFiling
6302025805202510-Q 6/30/2025
3312025506202510-Q 3/31/2025
12312024211202510-K 12/31/2024
93020241104202410-Q 9/30/2024
6302024731202410-Q 6/30/2024
3312024501202410-Q 3/31/2024
12312023213202410-K 12/31/2023
93020231102202310-Q 9/30/2023
6302023801202310-Q 6/30/2023
3312023502202310-Q 3/31/2023
12312022214202310-K 12/31/2022
93020221103202210-Q 9/30/2022
6302022802202210-Q 6/30/2022
3312022504202210-Q 3/31/2022
12312021215202210-K 12/31/2021
93020211103202110-Q 9/30/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Capuano AnthonyPresident & CEO6022025Sell263.9012,0003,166,80032,741,281Form
1Breland Benjamin T.CHRO & EVP, Global Ops. Serv.5142025Sell270.211,000270,2105,599,801Form
2SCHWAB SUSAN C 2262025Sell277.481,054292,3321,262,944Form
3Oberg Kathleen K.EVP & CFO2242025Sell276.333,395938,1407,014,595Form
4Reiss Rena HozoreEVP & General Counsel2242025Sell286.653,5001,003,2757,089,714Form