Marriott International
LSE:0JYW
0JYW
LSE
$44B
Market Cap
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Company description
Marriott International, Inc. operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The last earnings update was 8 days ago. More info.
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0JYW Share Price and Events
7 Day Returns
-5.4%
LSE:0JYW
3.2%
GB Hospitality
1.3%
GB Market
1 Year Returns
-8.4%
LSE:0JYW
-7.7%
GB Hospitality
-5%
GB Market
0JYW Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Marriott International (0JYW) | -5.4% | -5.9% | - | -8.4% | - | - |
| GB Hospitality | 3.2% | 0.4% | -1.6% | -7.7% | 11.1% | 30.9% |
| GB Market | 1.3% | -1.6% | 1.9% | -5% | 15.8% | 2.5% |
1 Year Return vs Industry and Market
- 0JYW underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -5% over the past year.
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Marriott International
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data
Below are the data sources, inputs and calculation used to determine the intrinsic value for Marriott International.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 20 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.7% |
| Perpetual Growth Rate | 10-Year GB Government Bond Rate | 1.2% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year GB Govt Bond Rate | 1.2% |
| Equity Risk Premium | S&P Global | 6% |
| Hospitality Unlevered Beta | Simply Wall St/ S&P Global | 0.94 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.937 (1 + (1- 21%) (25.87%)) |
1.086 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.09 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.086 * 5.96%) |
7.7% |
Discounted Cash Flow Calculation for LSE:0JYW using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Marriott International is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 7.7%) |
|
|---|---|---|---|
| 2019 | 2,384.38 | Analyst x6 | 2,213.92 |
| 2020 | 2,500.80 | Analyst x8 | 2,156.02 |
| 2021 | 2,585.40 | Analyst x4 | 2,069.61 |
| 2022 | 2,872.00 | Analyst x1 | 2,134.67 |
| 2023 | 3,145.00 | Analyst x1 | 2,170.47 |
| 2024 | 3,332.70 | Est @ 5.97% | 2,135.58 |
| 2025 | 3,484.20 | Est @ 4.55% | 2,073.05 |
| 2026 | 3,607.89 | Est @ 3.55% | 1,993.19 |
| 2027 | 3,710.83 | Est @ 2.85% | 1,903.50 |
| 2028 | 3,798.61 | Est @ 2.37% | 1,809.22 |
| Present value of next 10 years cash flows | $20,659.25 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $3,798.61 × (1 + 1.23%) ÷ (7.7% – 1.23%) |
$59,409.62 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $59,409.62 ÷ (1 + 7.7%)10 |
$28,295.97 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $20,659.25 + $28,295.97 |
$48,955.22 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $48,955.22 / 332.99 |
$147.02 |
| Calculation | Result | |
|---|---|---|
| Non-primary Listing Adjustment Factor |
1 share in LSE:0JYW
represents 0.96784x
of
NasdaqGS:MAR
(This could be a different class, a depositary receipt, a different currency, or all of these things.) |
0.96784x |
| Value per Share (Listing Adjusted, USD) |
= Value per Share (USD) x Listing Adjustment Factor
= $ 147.02 x 0.96784 |
$142.29 |
| Value per share (USD) | From above. | $142.29 |
| Current discount | Discount to share price of
$126.70
= -1 x ($126.70 - $142.29) / $142.29 |
11% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Amount off the current price
Marriott International
is available for.
11%
Share price is
$126.7
vs Future cash flow value of
$142.29
Current Discount Checks
For
Marriott International
to be considered undervalued it must be available for at least 20% below the
current price. Less than 40% is even better.
- Marriott International's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- Marriott International's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Marriott International's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Marriott International's earnings available for a low price, and how does
this compare to other companies in the same industry?
Raw Data
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $5.39 |
| NasdaqGS:MAR Share Price ** | NasdaqGS (2019-05-13) in USD | $130.91 |
| United Kingdom of Great Britain and Northern Ireland Hospitality Industry PE Ratio | Median Figure of 34 Publicly-Listed Hospitality Companies | 17.95x |
| United Kingdom of Great Britain and Northern Ireland Market PE Ratio | Median Figure of 790 Publicly-Listed Companies | 16.24x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Marriott International.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NasdaqGS:MAR Share Price ÷ EPS (both in USD) = 130.91 ÷ 5.39 |
24.28x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Marriott International is overvalued based on earnings compared to the GB Hospitality industry average.
- Marriott International is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does
Marriott International's expected growth come at a high price?
Raw Data
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 24.28x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts |
8.9%per year |
| United Kingdom of Great Britain and Northern Ireland Hospitality Industry PEG Ratio | Median Figure of 28 Publicly-Listed Hospitality Companies | 2.06x |
| United Kingdom of Great Britain and Northern Ireland Market PEG Ratio | Median Figure of 573 Publicly-Listed Companies | 1.5x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 24.28x ÷ 8.9% |
2.73x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Marriott International is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Marriott International's
assets?
Raw Data
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $4.80 |
| NasdaqGS:MAR Share Price * | NasdaqGS (2019-05-13) in USD | $130.91 |
| United Kingdom of Great Britain and Northern Ireland Hospitality Industry PB Ratio | Median Figure of 54 Publicly-Listed Hospitality Companies | 1.39x |
| United Kingdom of Great Britain and Northern Ireland Market PB Ratio | Median Figure of 1,368 Publicly-Listed Companies | 1.51x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NasdaqGS:MAR Share Price ÷ Book Value per Share (both in USD) = 130.91 ÷ 4.80 |
27.28x |
* Primary Listing of Marriott International.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Marriott International is overvalued based on assets compared to the GB Hospitality industry average.
X
Value checks
We assess Marriott International's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Hospitality industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Hospitality industry average (and greater than 0)? (1 check) Marriott International has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
8.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is
Marriott International
expected to grow at an
attractive
rate?
- Marriott International's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
- Marriott International's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
- Marriott International's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
| Data Point | Source | Value (per year) |
|---|---|---|
| LSE:0JYW Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts | 8.9% |
| LSE:0JYW Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 20 Analysts | 10.9% |
| United Kingdom of Great Britain and Northern Ireland Hospitality Industry Earnings Growth Rate | Market Cap Weighted Average | 12.2% |
| United Kingdom of Great Britain and Northern Ireland Hospitality Industry Revenue Growth Rate | Market Cap Weighted Average | 5.8% |
| United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate | Market Cap Weighted Average | 10.8% |
| United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate | Market Cap Weighted Average | 4.9% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
Raw Data
All numbers in USD Millions and using
Trailing twelve months (TTM)
annual period rather than quarterly.
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 20 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | 26,855 | 1 | ||
| 2021-12-31 | 24,124 | 3,000 | 2,345 | 8 |
| 2020-12-31 | 22,571 | 2,709 | 2,203 | 15 |
| 2019-12-31 | 21,549 | 2,401 | 1,980 | 16 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 5,238 | 1,833 | 1,862 |
| 2018-12-31 | 5,215 | 2,357 | 1,907 |
| 2018-09-30 | 5,199 | 2,300 | 1,627 |
| 2018-06-30 | 5,131 | 2,170 | 1,629 |
| 2018-03-31 | 5,054 | 2,440 | 1,508 |
| 2017-12-31 | 4,997 | 2,227 | 1,459 |
| 2017-09-30 | 4,957 | 2,227 | 1,589 |
| 2017-06-30 | 4,499 | 2,006 | 1,174 |
| 2017-03-31 | 3,975 | 1,750 | 932 |
| 2016-12-31 | 3,473 | 1,619 | 808 |
| 2016-09-30 | 2,988 | 1,556 | 738 |
| 2016-06-30 | 2,892 | 1,540 | 878 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can
be gauged below. We look back 3 years and see if they were any good at
predicting what actually occurred. We also show the highest and lowest estimates
looking forward to see if there is a wide range.
Raw Data
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 20 Analyst Estimates (S&P Global) | See Below |
All data from Marriott International Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 7.82 | 8.16 | 7.24 | 9.00 |
| 2020-12-31 | 6.93 | 7.43 | 6.75 | 18.00 |
| 2019-12-31 | 5.92 | 6.22 | 5.71 | 17.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 5.39 |
| 2018-12-31 | 5.45 |
| 2018-09-30 | 4.57 |
| 2018-06-30 | 4.50 |
| 2018-03-31 | 4.09 |
| 2017-12-31 | 3.89 |
| 2017-09-30 | 4.17 |
| 2017-06-30 | 3.31 |
| 2017-03-31 | 2.88 |
| 2016-12-31 | 2.78 |
| 2016-09-30 | 2.86 |
| 2016-06-30 | 3.42 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Marriott International is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Marriott International has a total score of 3/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Future performance checks
We assess Marriott International's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Marriott International has a total score of 3/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Marriott International performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Below we compare
Marriott International's growth in the last year to its industry (Hospitality).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it
has maintained that growth in the year.
- Marriott International has delivered over 20% year on year earnings growth in the past 5 years.
- Marriott International's 1-year earnings growth exceeds its 5-year average (23.5% vs 22.6%)
- Marriott International's earnings growth has exceeded the GB Hospitality industry average in the past year (23.5% vs 12.8%).
Earnings and Revenue History
Marriott International's
revenue
and
profit
over the past 5 years is shown below, any years where they have experienced a
loss will show up in red.
Raw Data
All data from Marriott International Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 5,238.00 | 1,862.00 | 1,562.00 | |
| 2018-12-31 | 5,215.00 | 1,907.00 | 1,587.00 | |
| 2018-09-30 | 5,199.00 | 1,627.00 | 1,517.00 | |
| 2018-06-30 | 5,131.00 | 1,629.00 | 1,501.00 | |
| 2018-03-31 | 5,054.00 | 1,508.00 | 1,518.00 | |
| 2017-12-31 | 4,997.00 | 1,459.00 | 1,483.00 | |
| 2017-09-30 | 4,957.00 | 1,589.00 | 882.00 | |
| 2017-06-30 | 4,499.00 | 1,174.00 | 838.00 | |
| 2017-03-31 | 3,975.00 | 932.00 | 758.00 | |
| 2016-12-31 | 3,473.00 | 808.00 | 1,152.00 | |
| 2016-09-30 | 2,988.00 | 738.00 | 676.00 | |
| 2016-06-30 | 2,892.00 | 878.00 | 664.00 | |
| 2016-03-31 | 2,868.00 | 871.00 | 662.00 | |
| 2015-12-31 | 2,856.00 | 859.00 | 634.00 | |
| 2015-09-30 | 2,850.00 | 854.00 | 617.00 | |
| 2015-06-30 | 2,848.00 | 836.00 | 640.00 | |
| 2015-03-31 | 2,833.00 | 788.00 | 647.00 | |
| 2014-12-31 | 2,741.00 | 753.00 | 659.00 | |
| 2014-09-30 | 2,684.00 | 707.00 | 649.00 | |
| 2014-06-30 | 2,590.00 | 675.00 | 624.00 | |
| 2014-03-31 | 2,522.00 | 662.00 | 625.00 | |
| 2013-12-31 | 2,493.00 | 626.00 | 641.00 | |
| 2013-09-30 | 2,612.00 | 656.00 | 680.00 | |
| 2013-06-30 | 2,533.00 | 639.00 | 665.00 | |
| 2013-03-31 | 2,486.00 | 603.00 | 665.00 | |
| 2012-12-28 | 2,409.00 | 571.00 | 582.00 | |
| 2012-09-07 | 2,652.00 | 531.00 | 693.00 | |
| 2012-06-15 | 2,962.00 | 209.00 | 741.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Whilst Marriott International made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
- Marriott International used its assets more efficiently than the GB Hospitality industry average last year based on Return on Assets.
- Marriott International's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Marriott International has a total score of 4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Past performance checks
We assess Marriott International's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Hospitality industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Marriott International has a total score of 4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Marriott International's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Marriott International's finances.
The net worth of a company is the difference between its assets and liabilities.
- Marriott International's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Marriott International's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of
Marriott International's finances. If any of them are yellow this
indicates they may be out of proportion and red means they relate to one of the
checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
- Low level of unsold assets.
- Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data
All data from Marriott International Company Filings, last reported 1 month ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 1,603.00 | 11,276.00 | 258.00 |
| 2018-12-31 | 2,225.00 | 9,347.00 | 316.00 |
| 2018-09-30 | 2,324.00 | 9,327.00 | 373.00 |
| 2018-06-30 | 2,841.00 | 8,991.00 | 366.00 |
| 2018-03-31 | 3,566.00 | 8,846.00 | 701.00 |
| 2017-12-31 | 3,582.00 | 8,238.00 | 383.00 |
| 2017-09-30 | 4,512.00 | 8,669.00 | 508.00 |
| 2017-06-30 | 4,901.00 | 8,313.00 | 498.00 |
| 2017-03-31 | 5,168.00 | 8,470.00 | 738.00 |
| 2016-12-31 | 5,357.00 | 8,506.00 | 858.00 |
| 2016-09-30 | 5,841.00 | 8,822.00 | 1,078.00 |
| 2016-06-30 | -3,462.00 | 4,360.00 | 679.00 |
| 2016-03-31 | -3,667.00 | 4,159.00 | 99.00 |
| 2015-12-31 | -3,590.00 | 4,107.00 | 96.00 |
| 2015-09-30 | -3,589.00 | 4,304.00 | 95.00 |
| 2015-06-30 | -3,033.00 | 3,917.00 | 140.00 |
| 2015-03-31 | -2,537.00 | 4,028.00 | 120.00 |
| 2014-12-31 | -2,200.00 | 3,771.00 | 104.00 |
| 2014-09-30 | -1,842.00 | 3,528.00 | 150.00 |
| 2014-06-30 | -1,720.00 | 3,404.00 | 192.00 |
| 2014-03-31 | -1,625.00 | 3,302.00 | 184.00 |
| 2013-12-31 | -1,415.00 | 3,153.00 | 126.00 |
| 2013-09-30 | -1,409.00 | 3,156.00 | 144.00 |
| 2013-06-30 | -1,493.00 | 3,087.00 | 108.00 |
| 2013-03-31 | -1,377.00 | 3,255.00 | 221.00 |
| 2012-12-28 | -1,285.00 | 2,935.00 | 88.00 |
| 2012-09-07 | -1,296.00 | 2,509.00 | 105.00 |
| 2012-06-15 | -1,124.00 | 2,560.00 | 105.00 |
- Marriott International's level of debt (703.4%) compared to net worth is high (greater than 40%).
- Marriott International had negative shareholder equity 5 years ago, it is now positive therefore their debt level has improved.
- Debt is not well covered by operating cash flow (16.3%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 7.3x coverage).
X
Full details on the Health part of the Simply Wall St company analysis model.
Financial health checks
We assess Marriott International's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Marriott International has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is Marriott International's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
1.47%
Current annual income from
Marriott International
dividends.
Estimated to be
1.45%
next year.
If you bought
$2,000 of
Marriott International
shares you are expected to receive
$29
in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you
can get in a
savings account?
It is up there with the
best dividend paying companies?
- Marriott International's pays a lower dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.99%).
- Marriott International's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.21%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
Raw Data
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 20 Analyst Estimates (S&P Global) | See Below |
| United Kingdom of Great Britain and Northern Ireland Hospitality Industry Average Dividend Yield | Market Cap Weighted Average of 32 Stocks | 3.2% |
| United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield | Market Cap Weighted Average of 705 Stocks | 4.3% |
| United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield | 10th Percentile | 1% |
| United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield | 25th Percentile | 2% |
| United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield | 75th Percentile | 5.2% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | ||
| 2022-12-31 | 2.60 | 1.00 |
| 2021-12-31 | 1.98 | 10.00 |
| 2020-12-31 | 1.93 | 19.00 |
| 2019-12-31 | 1.78 | 19.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-05-10 | 1.920 | 1.472 |
| 2018-11-08 | 1.640 | 1.373 |
| 2018-08-09 | 1.640 | 1.344 |
| 2018-05-04 | 1.640 | 1.231 |
| 2018-02-09 | 1.320 | 0.960 |
| 2017-11-09 | 1.320 | 0.990 |
| 2017-08-10 | 1.320 | 1.215 |
| 2017-05-05 | 1.320 | 1.279 |
| 2017-02-10 | 1.200 | 1.323 |
| 2016-11-10 | 1.200 | 1.459 |
| 2016-09-13 | 1.200 | 1.757 |
| 2016-05-06 | 1.200 | 1.739 |
| 2016-02-11 | 1.000 | 1.465 |
| 2015-11-05 | 1.000 | 1.509 |
| 2015-08-06 | 1.000 | 1.384 |
| 2015-05-08 | 1.000 | 1.302 |
| 2015-02-12 | 0.800 | 0.984 |
| 2014-11-06 | 0.800 | 1.037 |
| 2014-08-07 | 0.800 | 1.160 |
| 2014-05-09 | 0.800 | 1.273 |
| 2014-02-14 | 0.680 | 1.230 |
| 2013-11-07 | 0.680 | 1.415 |
| 2013-08-08 | 0.680 | 1.605 |
| 2013-05-10 | 0.680 | 1.640 |
| 2013-02-15 | 0.520 | 1.270 |
| 2012-11-08 | 0.520 | 1.384 |
| 2012-08-09 | 0.520 | 1.363 |
| 2012-05-04 | 0.520 | 1.378 |
| 2012-02-10 | 0.400 | 1.074 |
| 2011-11-10 | 0.400 | 1.271 |
| 2011-08-04 | 0.400 | 1.388 |
| 2011-05-06 | 0.400 | 1.140 |
| 2011-02-11 | 0.350 | 0.950 |
| 2010-11-04 | 0.350 | 0.867 |
| 2010-08-05 | 0.160 | 0.452 |
| 2010-05-07 | 0.160 | 0.485 |
| 2010-02-11 | 0.160 | 0.521 |
| 2009-10-09 | 0.000 | 0.000 |
| 2009-10-08 | 0.000 | 0.000 |
| 2009-07-17 | 0.000 | 0.000 |
| 2009-07-16 | 0.000 | 0.000 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, Marriott International has been paying a dividend for less than 10 years.
- Dividend payments have increased, but Marriott International only paid a dividend in the past 9 years.
X
Full details on the Dividends part of the Simply Wall St company analysis model.
Income/ dividend checks
We assess Marriott International's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Marriott International afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Marriott International has a total score of 2/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
Management is one of the most important areas of a company. We look at
unreasonable CEO compensation, how long the team and board of directors have
been around for and insider trading.
CEO
Arne
Sorenson
| COMPENSATION | $12,933,992 |
| AGE | 59 |
| TENURE AS CEO | 7.2 years |
CEO Bio
Mr. Arne M. Sorenson has been the Chief Executive Officer of Marriott International, Inc. since March 31, 2012 and its President since May 1, 2009 with responsibility for the performance and growth of all of its worldwide brands and businesses. Mr. Sorenson served as the Chief Operating Officer of Marriott International, Inc. since May 1, 2009. He served as the President of Continental European Lodging at Marriott International Inc. since January 2003 and served as its Executive Vice President and Chief Financial Officer from 1998 to May 1, 2009 and was responsible for lodging operations and development in the continental European region, as well as its finance, treasury and financial planning and analysis functions. He served as the Principal Accounting Officer at Marriott International Inc. He joined Marriott in 1996 and served as its Senior Vice President of Business Development until 1998. He was instrumental in Marriott International Inc.'s acquisition of Renaissance Hotel Group in 1997. He served as a Partner of Latham & Watkins in Washington, D.C., where Mr. Sorenson played a key role from 1992 to 1993 in the distribution of Marriott by Marriott and specialized in mergers and acquisitions litigation. In 2008, he launched Marriott's rainforest preservation partnership with the Amazonas Sustainable Foundation in Brazil. He co-chairs Green Council of Marriott. He served as the Chairman at Corporation for Travel Promotion since January 22, 2015 until October 2016. He has been a Director of Corporation for Travel Promotion (aka: Brand USA) since October 1, 2012. He has been a Director of Marriott International, Inc. since February 2011. He served as an Independent Director of Wal-Mart Stores Inc. from June 6, 2008 to May 3, 2013. Mr. Sorenson served as Vice Chair of the President’s Export Council. He is the immediate past Board Chair for Brand USA and continues as a member of the Board. He was most recently elected to the Microsoft Board of Directors. Other affiliations include: Chair, U.S. Travel Association CEO Roundtable; member of Business Roundtable; member of the Business Council; member of the Board of the Warrior Scholar Project; member of the Luther College Board of Regents; Stewardship Board of the World Economic Forum System Initiative on Shaping the Future of Mobility; and member of the Board of Trustees for The Brookings Institution. e holds a Bachelor of Arts degree from Luther College in Decorah, Iowa and a J.D. from the University of Minnesota Law School.
CEO Compensation
- Arne's compensation has been consistent with company performance over the past year.
- Arne's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure
Average tenure and age of the Marriott International management team in years:
7.2
Average Tenure
57
Average Age
- The average tenure for the Marriott International management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Arne Sorenson
TITLE
President
COMPENSATION
$13M
AGE
59
TENURE
7.2 yrs
Leeny Oberg
TITLE
Executive VP & CFO
COMPENSATION
$5M
AGE
57
TENURE
3.3 yrs
Tony Capuano
TITLE
Executive VP & Global Chief Development Officer
COMPENSATION
$6M
AGE
52
TENURE
10.1 yrs
Stephanie Linnartz
TITLE
Executive VP & Global Chief Commercial Officer
COMPENSATION
$5M
AGE
49
TENURE
10.8 yrs
Dave Grissen
TITLE
Group President
COMPENSATION
$5M
AGE
61
TENURE
5.3 yrs
Bill Marriott
TITLE
Executive Chairman of the Board
COMPENSATION
$3M
AGE
86
Matt Muserlian
TITLE
Director Of Operations
Bao Giang Bauduin
TITLE
Controller & Chief Accounting Officer
AGE
42
TENURE
4.9 yrs
Bruce Hoffmeister
TITLE
Global Chief Information Officer
TENURE
8.1 yrs
Laura Paugh
TITLE
Senior Vice President of Investor Relations
Board of Directors Tenure
Average tenure and age of the Marriott International board of directors in years:
11
Average Tenure
63
Average Age
- The average tenure for the Marriott International board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors
Arne Sorenson
TITLE
President
COMPENSATION
$13M
AGE
59
TENURE
8.3 yrs
Bill Marriott
TITLE
Executive Chairman of the Board
COMPENSATION
$3M
AGE
86
TENURE
34.3 yrs
Arthur Gillis
TITLE
Non-Executive Chairman of Africa Development
TENURE
5.1 yrs
Debbie Harrison
TITLE
Global Officer of Marriott Culture & Business Councils and Director
AGE
61
TENURE
4.9 yrs
Larry Kellner
TITLE
Lead Director
COMPENSATION
$280K
AGE
59
Steve Reinemund
TITLE
Director
COMPENSATION
$265K
AGE
70
TENURE
12.1 yrs
Fritz Henderson
TITLE
Director
COMPENSATION
$270K
AGE
59
TENURE
6 yrs
George Muñoz
TITLE
Director
COMPENSATION
$286K
AGE
66
TENURE
16.8 yrs
Debra Lee
TITLE
Director
COMPENSATION
$264K
AGE
63
TENURE
14.9 yrs
Mary Bush
TITLE
Director
COMPENSATION
$260K
AGE
70
TENURE
11 yrs
Who owns this company?
Recent Insider Trading
- Marriott International insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 16. May 19 | Sell | Alex Kyriakidis | Individual | 15. May 19 | 15. May 19 | -11,000 | $128.79 | $-1,416,690 | ||
| 15. May 19 | Buy | Margaret McCarthy | Individual | 14. May 19 | 14. May 19 | 2,000 | $130.83 | $261,662 | ||
| 15. Mar 19 | Sell | William Brown | Individual | 13. Mar 19 | 13. Mar 19 | -11,640 | $121.53 | $-1,414,609 | ||
| 01. Apr 19 | Sell | Anthony Capuano | Individual | 29. Mar 19 | 29. Mar 19 | -44,594 | $125.13 | $-5,580,056 | ||
| 12. Mar 19 | Sell | Craig Smith | Individual | 11. Mar 19 | 11. Mar 19 | -16,743 | $120.35 | $-2,015,020 | ||
| 07. Mar 19 | Sell | John Marriott | Individual | 04. Mar 19 | 04. Mar 19 | -27 | $124.42 | $-3,359 | ||
| 14. Nov 18 | Sell | Eric Hippeau | Individual | 13. Nov 18 | 13. Nov 18 | -9,000 | $116.23 | $-1,046,070 | ||
| 10. Aug 18 | Buy | Frederick Henderson | Individual | 09. Aug 18 | 09. Aug 18 | 1,640 | $120.84 | $198,178 | ||
| 14. Jun 18 | Sell | Juliana Marriott | Individual | 12. Jun 18 | 12. Jun 18 | -3,206 | $140.09 | $-449,129 | ||
| 08. Jun 18 | Sell | Juliana Marriott | Individual | 07. Jun 18 | 07. Jun 18 | -4,294 | $141.49 | $-607,558 | ||
| 08. Jun 18 | Sell | David Marriott | Individual | 07. Jun 18 | 07. Jun 18 | -4,581 | $141.09 | $-646,333 | ||
X
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
Management checks
We assess Marriott International's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Marriott International has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
Company Info
Description
Marriott International, Inc. operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through North American Full-Service, North American Limited-Service, and Asia Pacific segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St. Regis, EDITION, Bulgari, Marriott Hotels, Sheraton, Delta Hotels, Marriott Executive Apartments, Marriott Vacation Club, Westin, Renaissance, Le Méridien, Autograph Collection, Gaylord Hotels, Tribute Portfolio, Design Hotels, Courtyard, Residence Inn, Fairfield by Marriott, SpringHill Suites, Four Points, TownePlace Suites, Aloft, AC Hotels by Marriott, Protea Hotels, Element, and Moxy brand names. As of April 10, 2019, it operated approximately 7,000 properties under 30 hotel brands in 130 countries and territories. Marriott International, Inc. was founded in 1927 and is headquartered in Bethesda, Maryland.
Details
| Name: | Marriott International, Inc. |
| 0JYW | |
| Exchange: | LSE |
| Founded: | 1927 |
| $43,591,568,258 | |
| 332,988,834 | |
| Website: | http://www.marriott.com |
| Address: |
Marriott International, Inc. 10400 Fernwood Road, Bethesda, Maryland, 20817, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NasdaqGS | MAR | Class A Common Stock | Nasdaq Global Select | US | USD | 23. Mar 1998 | |
| DB | MAQ | Class A Common Stock | Deutsche Boerse AG | DE | EUR | 23. Mar 1998 | |
| LSE | 0JYW | Class A Common Stock | London Stock Exchange | GB | USD | 23. Mar 1998 | |
| WBAG | MAR | Class A Common Stock | Wiener Boerse AG | AT | EUR | 23. Mar 1998 |
Number of employees
Current staff
176,000
Marriott International
employees.
Industry
| Hotels, Resorts and Cruise Lines | |
| Consumer Services |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/18 23:06 |
| End of day share price update: | 2019/05/13 00:00 |
| Last estimates confirmation: | 2019/05/18 |
| Last earnings filing: | 2019/05/10 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
