MAR Consumer Cyclical

Marriott International, Inc.

$416.38+0.02%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Consumer Cyclical
Industry: Lodging
Country: United States
Market cap: 108.6B USD
Enterprise value: 117.6B USD
Full-time employees: 414,000

Overall health

Strength: more profitable than most peersmore profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.17 vs a peer median of 0.63) and less short-term liquidity (current ratio 0.53 vs a peer median of 1.48)higher risk: bigger price swings (beta 1.17 vs peers 0.63) and less liquidity (current ratio 0.53 vs peers 1.48)
About average: growth

Ranks #1,012 of 1,502 consumer cyclical companies (bottom 33%)

See how it ranks against its peers

Worth knowing

Negative shareholders' equity. Liabilities exceed assets on the balance sheet.
Marriott International's liabilities exceed its assets on the balance sheet. Large share buybacks can cause this in healthy companies, but so can accumulated losses; either way, debt-based ratios need care.
Returning more cash than it generates. Paid out $13.0B vs $7.3B of free cash flow over the 3 fiscal years to 2025.
Marriott International returned $13.0B to shareholders over three years, 178% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.
Borrowing rising faster than profit. Since 2022: debt +61%, operating profit +20%.
Marriott International's debt grew 61% since 2022 while operating profit changed +20%.
Share count shrinking. Shares outstanding down 16% from December 2022 to July 2026.
Marriott International had 16% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

StockQuotient Score

43/ 100

Oct 5 44 → Nov 4 43 (-1)

Valuation

Is the price right?

23/100

Weak▼ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 24 → 23

Share price +6.7%-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ EBITDA yield
▼ FCF yield
▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.4%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.61Sector median: 0.0439 · MAD: 0.0329

EBITDA yield3.8%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -1.07Sector median: 0.0877 · MAD: 0.0461

Free cash flow yield2.9%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.60Sector median: 0.0614 · MAD: 0.0545

Other data (not scored)

Book yield-4.2%

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.5650 · MAD: 0.3500

Growth

Is it growing?

55/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth9.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.20Sector median: 0.0420 · MAD: 0.2537

3-year revenue growth5.5%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.19Sector median: 0.0425 · MAD: 0.0636

Revenue growth4.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.15Sector median: 0.0373 · MAD: 0.0653

Profitability

Does it earn well?

91/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROIC
▲ ROA
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin15.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.04Sector median: 0.0638 · MAD: 0.0461

Return on assets9.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.32Sector median: 0.0331 · MAD: 0.0254

Return on invested capital28.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 3.47Sector median: 0.0733 · MAD: 0.0600

Other data (not scored)

Gross margin79.2%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.3025 · MAD: 0.1399

Return on equityUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.0746 · MAD: 0.0674

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity
▼ Current ratio
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.17

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.79Sector median: 0.6345 · MAD: 0.2980

Current ratio0.53×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.70Sector median: 1.4800 · MAD: 0.5570

Debt / equityUnavailable

Shareholders' equity is negative, so debt/equity counts as among the highest in its peer group33% base weight · Z-score -9.02Sector median: 0.4646 · MAD: 0.3556

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Marriott International

Is Marriott International getting weaker?: Its latest SEC filing (Aug 3, 2026) showed no major changes. Its overall score is unchanged at 43/100 since Oct 28, 2026.
How is Marriott International valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 23/100 against 1,612 consumer cyclical peers. EBITDA yield 3.8% vs a peer median of 8.8% (weaker than 78% of peers).EBITDA yield 3.8% vs peers 8.8% (weaker than 78% of peers).
Is Marriott International growing?: At about the same pace as its peers. Growth scores 55/100 against 1,612 consumer cyclical peers.
How profitable is Marriott International?: More profitable than most of its peers. Profitability scores 91/100 against 1,612 consumer cyclical peers. Return on invested capital 28.1% vs a peer median of 7.3% (stronger than 91% of peers).Return on invested capital 28.1% vs peers 7.3% (stronger than 91% of peers).
How risky is Marriott International?: Higher risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Current ratio 0.53× vs a peer median of 1.48× (weaker than 94% of peers).Current ratio 0.53× vs peers 1.48× (weaker than 94% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 3, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	26.6B USD	26.9B USD	+1.2%
Net income (12 months)	2.6B USD	2.6B USD	+0.1%
Operating margin	16.0%	15.8%	−0.2 pts
Free cash flow (12 months)	2.8B USD	3.1B USD	+10.9%
Debt	16.5B USD	16.9B USD	+2.3%
Cash	454.0M USD	462.0M USD	+1.8%
Shares outstanding	263.7M	260.8M	−1.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Consumer Cyclical · 182 companies

Valuations in Consumer Cyclical are within their usual range since 2016.

36% of months since 2016 were valued lower than now.
15% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +0% and earnings +10% (medians): prices and earnings moved broadly together.
Median price-to-sales is −55% vs the whole market, against a usual −41%.

2016Shaded: most expensive fifth of its range2026

Shown for Consumer Cyclical: too few Lodging companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	12.6%	16.7%	16.3%	15.0%	15.8%	▲ 0.8 pts
Net margin	7.9%	11.4%	13.0%	9.5%	9.9%	▲ 0.5 pts
Return on assets (ROA)	4.3%	9.5%	12.0%	9.1%	9.4%	▲ 0.4 pts
Return on equity (ROE)	77.7%	415.1%	—	—	—	—
Free cash flow margin	7.2%	9.8%	11.5%	8.0%	10.0%	▲ 2.0 pts
Current ratio	0.57×	0.45×	0.43×	0.40×	0.43×	▲ 5.9%
Debt to equity	7.17×	17.72×	—	—	—	—
Interest coverage	4.17×	8.59×	6.84×	5.42×	5.12×	▼ 5.6%

MAR price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.17 vs a peer median of 0.63) and less short-term liquidity (current ratio 0.53 vs a peer median of 1.48)higher risk: bigger price swings (beta 1.17 vs peers 0.63) and less liquidity (current ratio 0.53 vs peers 1.48)

About average: growth

Ranks #1,012 of 1,502 consumer cyclical companies (bottom 33%)

See how it ranks against its peers

Worth knowing

Negative shareholders' equity. Liabilities exceed assets on the balance sheet.

Marriott International's liabilities exceed its assets on the balance sheet. Large share buybacks can cause this in healthy companies, but so can accumulated losses; either way, debt-based ratios need care.

Returning more cash than it generates. Paid out $13.0B vs $7.3B of free cash flow over the 3 fiscal years to 2025.

Marriott International returned $13.0B to shareholders over three years, 178% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.

Borrowing rising faster than profit. Since 2022: debt +61%, operating profit +20%.

Marriott International's debt grew 61% since 2022 while operating profit changed +20%.

Share count shrinking. Shares outstanding down 16% from December 2022 to July 2026.

Marriott International had 16% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

Questions investors ask about Marriott International

Is Marriott International getting weaker?

Its latest SEC filing (Aug 3, 2026) showed no major changes. Its overall score is unchanged at 43/100 since Oct 28, 2026.

How is Marriott International valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 23/100 against 1,612 consumer cyclical peers. EBITDA yield 3.8% vs a peer median of 8.8% (weaker than 78% of peers).EBITDA yield 3.8% vs peers 8.8% (weaker than 78% of peers).

Is Marriott International growing?

At about the same pace as its peers. Growth scores 55/100 against 1,612 consumer cyclical peers.

How profitable is Marriott International?

More profitable than most of its peers. Profitability scores 91/100 against 1,612 consumer cyclical peers. Return on invested capital 28.1% vs a peer median of 7.3% (stronger than 91% of peers).Return on invested capital 28.1% vs peers 7.3% (stronger than 91% of peers).

How risky is Marriott International?

Higher risk relative to 1,612 consumer cyclical peers, judged on debt, liquidity and share-price swings. Current ratio 0.53× vs a peer median of 1.48× (weaker than 94% of peers).Current ratio 0.53× vs peers 1.48× (weaker than 94% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

26.6B USD

26.9B USD

+1.2%

Net income (12 months)

2.6B USD

2.6B USD

+0.1%

Operating margin

16.0%

15.8%

−0.2 pts

Free cash flow (12 months)

2.8B USD

3.1B USD

+10.9%

Debt

16.5B USD

16.9B USD

+2.3%

Cash

454.0M USD

462.0M USD

+1.8%

Shares outstanding

263.7M

260.8M

−1.1%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

12.6%

16.7%

16.3%

15.0%

15.8%

▲ 0.8 pts

Net margin

7.9%

11.4%

13.0%

9.5%

9.9%

▲ 0.5 pts

Return on assets (ROA)

4.3%

9.5%

12.0%

9.1%

9.4%

▲ 0.4 pts

Return on equity (ROE)

77.7%

415.1%

—

Free cash flow margin

7.2%

9.8%

11.5%

8.0%

10.0%

▲ 2.0 pts

Current ratio

0.57×

0.45×

0.43×

0.40×

0.43×

▲ 5.9%

Debt to equity

7.17×

17.72×

—

Interest coverage

4.17×

8.59×

6.84×

5.42×

5.12×

▼ 5.6%