Marriott International
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Marriott International, Inc. operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The last earnings update was 40 days ago. More info.
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MAR Share Price and Events
7 Day Returns
1 Year Returns
MAR Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Marriott International (MAR) | 2.2% | 6.1% | 8.5% | -0.2% | 100.3% | 113.9% |
| US Hospitality | 0.9% | 1.2% | 2.4% | -9.1% | 41.6% | 21.5% |
| US Market | 1.2% | 2% | 2% | 2.3% | 37.9% | 39.8% |
1 Year Return vs Industry and Market
- MAR outperformed the Hospitality industry which returned -9.1% over the past year.
- MAR underperformed the Market in United States of America which returned 2.3% 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.
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 | 9.1% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
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 US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Hospitality Unlevered Beta | Simply Wall St/ S&P Global | 0.93 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.926 (1 + (1- 21%) (24.96%)) |
1.073 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.07 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.073 * 5.96%) |
9.12% |
Discounted Cash Flow Calculation for NasdaqGS:MAR 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 (@ 9.12%) |
|
|---|---|---|---|
| 2019 | 2,285.76 | Analyst x7 | 2,094.65 |
| 2020 | 2,493.18 | Analyst x8 | 2,093.71 |
| 2021 | 2,572.40 | Analyst x4 | 1,979.63 |
| 2022 | 2,825.00 | Analyst x2 | 1,992.25 |
| 2023 | 3,059.00 | Analyst x2 | 1,976.91 |
| 2024 | 3,236.70 | Est @ 5.81% | 1,916.86 |
| 2025 | 3,394.82 | Est @ 4.89% | 1,842.42 |
| 2026 | 3,538.72 | Est @ 4.24% | 1,759.94 |
| 2027 | 3,672.70 | Est @ 3.79% | 1,673.86 |
| 2028 | 3,800.11 | Est @ 3.47% | 1,587.13 |
| Present value of next 10 years cash flows | $18,917.36 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $3,800.11 × (1 + 2.73%) ÷ (9.12% – 2.73%) |
$61,059.36 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $61,059.36 ÷ (1 + 9.12%)10 |
$25,501.62 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $18,917.36 + $25,501.62 |
$44,418.98 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $44,418.98 / 332.99 |
$133.39 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $133.39 |
| Current discount | Discount to share price of
$135.68
= -1 x ($135.68 - $133.39) / $133.39 |
-1.7% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Marriott International is above its future cash flow value.
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?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $5.39 |
| NasdaqGS:MAR Share Price ** | NasdaqGS (2019-06-19) in USD | $135.68 |
| United States of America Hospitality Industry PE Ratio | Median Figure of 74 Publicly-Listed Hospitality Companies | 22.6x |
| United States of America Market PE Ratio | Median Figure of 3,092 Publicly-Listed Companies | 17.87x |
* 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) = 135.68 ÷ 5.39 |
25.17x |
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 US Hospitality industry average.
- Marriott International is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Marriott International's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 25.17x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts |
7.4%per year |
| United States of America Hospitality Industry PEG Ratio | Median Figure of 55 Publicly-Listed Hospitality Companies | 1.98x |
| United States of America Market PEG Ratio | Median Figure of 2,128 Publicly-Listed Companies | 1.53x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 25.17x ÷ 7.4% |
3.4x |
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?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $4.80 |
| NasdaqGS:MAR Share Price * | NasdaqGS (2019-06-19) in USD | $135.68 |
| United States of America Hospitality Industry PB Ratio | Median Figure of 112 Publicly-Listed Hospitality Companies | 2.22x |
| United States of America Market PB Ratio | Median Figure of 5,246 Publicly-Listed Companies | 1.8x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NasdaqGS:MAR Share Price ÷ Book Value per Share (both in USD) = 135.68 ÷ 4.80 |
28.28x |
* 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 US Hospitality industry average.
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!
Earnings growth vs Low Risk Savings
- Marriott International's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Marriott International's earnings growth is positive but not above the United States of America market average.
- Marriott International's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NasdaqGS:MAR Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts | 7.4% |
| NasdaqGS:MAR Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 20 Analysts | 10.9% |
| United States of America Hospitality Industry Earnings Growth Rate | Market Cap Weighted Average | 16.7% |
| United States of America Hospitality Industry Revenue Growth Rate | Market Cap Weighted Average | 7.4% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.9% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.4% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months 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 | 3,240 | 2,526 | ||
| 2022-12-31 | 26,855 | 3,043 | 2,368 | 1 |
| 2021-12-31 | 24,123 | 2,920 | 2,341 | 9 |
| 2020-12-31 | 22,576 | 2,678 | 2,203 | 15 |
| 2019-12-31 | 21,526 | 2,270 | 1,965 | 15 |
| 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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months 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 2 months 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 | 9.21 | 9.21 | 9.21 | 1.00 |
| 2022-12-31 | 8.23 | 8.23 | 8.23 | 1.00 |
| 2021-12-31 | 7.78 | 8.16 | 7.24 | 10.00 |
| 2020-12-31 | 6.92 | 7.43 | 6.74 | 18.00 |
| 2019-12-31 | 5.90 | 6.22 | 5.71 | 16.00 |
| 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%).
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 States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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
Past Earnings growth analysis
- 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 US Hospitality industry average in the past year (23.5% vs 1%).
Earnings and Revenue History
All data from Marriott International Company Filings, last reported 2 months 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 |
*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 US 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).
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
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is not covered by short term assets, assets are 0.3x 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.
All data from Marriott International Company Filings, last reported 2 months 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 |
- Marriott International's level of debt (639.8%) 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 (17.9%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 7.3x coverage).
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
If you bought
$2,000 of
Marriott International
shares you are expected to receive
$28
in your first year as a dividend.
Dividend Amount
- Marriott International's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
- Marriott International's dividend is below the markets top 25% of dividend payers in United States of America (3.69%).
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.
| 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 States of America Hospitality Industry Average Dividend Yield | Market Cap Weighted Average of 47 Stocks | 2.7% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2011 Stocks | 2.4% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
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 | 2.10 | 1.00 |
| 2022-12-31 | 2.30 | 2.00 |
| 2021-12-31 | 2.00 | 11.00 |
| 2020-12-31 | 1.95 | 19.00 |
| 2019-12-31 | 1.80 | 19.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-05-10 | 1.920 | 1.484 |
| 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.
Income/ dividend checks
We assess Marriott International's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - 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
CEO
| COMPENSATION | $12,933,992 |
| AGE | 59 |
| TENURE AS CEO | 7.3 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, both up more than 20%.
- Arne's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Marriott International management team in years:
- 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
President
$13M
59
7.3 yrs
Leeny Oberg
Executive VP & CFO
$5M
57
3.4 yrs
Tony Capuano
Executive VP & Global Chief Development Officer
$6M
52
10.2 yrs
Stephanie Linnartz
$5M
49
10.9 yrs
Dave Grissen
Group President
$5M
61
5.3 yrs
Bill Marriott
Executive Chairman of the Board
$3M
86
Matt Muserlian
Director Of Operations
Bao Giang Bauduin
Controller & Chief Accounting Officer
42
5 yrs
Bruce Hoffmeister
Global Chief Information Officer
8.2 yrs
Laura Paugh
Senior Vice President of Investor Relations
Board of Directors Tenure
Average tenure and age of the Marriott International board of directors in years:
- 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
President
$13M
59
8.3 yrs
Bill Marriott
Executive Chairman of the Board
$3M
86
34.4 yrs
Arthur Gillis
Non-Executive Chairman of Africa Development
5.2 yrs
Debbie Harrison
Global Officer of Marriott Culture & Business Councils and Director
61
5 yrs
Larry Kellner
Lead Director
$280K
59
Steve Reinemund
Director
$265K
70
12.2 yrs
Fritz Henderson
Director
$270K
59
6.1 yrs
George Muñoz
Director
$286K
66
16.8 yrs
Debra Lee
Director
$264K
63
15 yrs
Mary Bush
Director
$260K
70
11.1 yrs
Who owns this company?
Recent Insider Trading
- Marriott International insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 29. May 19 | Sell | George Muñoz | Individual | 28. May 19 | 28. May 19 | -3,428 | $125.20 | $-429,186 | ||
| 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 | $198,178 | ||
Management checks
We assess Marriott International's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Marriott International has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
How Much Did Marriott International, Inc.'s (NASDAQ:MAR) CEO Pocket Last Year?
Arne Sorenson has been the CEO of Marriott International, Inc. … View our latest analysis for Marriott International How Does Arne Sorenson's Compensation Compare With Similar Sized Companies? … Boasting a total shareholder return of 110% over three years, Marriott International, Inc.
Simply Wall St - – Full articleCalculating The Intrinsic Value Of Marriott International, Inc. (NASDAQ:MAR)
(NASDAQ:MAR) by projecting its future cash flows and then discounting them to today's value. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $2.29k $2.49k $2.57k $2.83k $3.06k $3.24k $3.39k $3.54k $3.67k $3.80k Growth Rate Estimate Source Analyst x7 Analyst x8 Analyst x4 Analyst x2 Analyst x2 Est @ 5.81% Est @ 4.89% Est @ 4.24% Est @ 3.79% Est @ 3.47% Present Value ($, Millions) Discounted @ 9.1% $2.10k $2.09k $1.98k $1.99k $1.98k $1.92k $1.85k $1.76k $1.68k $1.59k Present Value of 10-year Cash Flow (PVCF)= $18.94b "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = US$3.8b × (1 + 2.7%) ÷ (9.1% – 2.7%) = US$61b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = $US$61b ÷ ( 1 + 9.1%)10 = $25.65b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is $44.59b.
Simply Wall St - – Full articleWhat Does Marriott International, Inc.'s (NASDAQ:MAR) P/E Ratio Tell You?
Check out our latest analysis for Marriott International How Do I Calculate Marriott International's Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Marriott International: P/E of 24.18 = $131.71 ÷ $5.45 (Based on the trailing twelve months to December 2018.) Is A High Price-to-Earnings Ratio Good? … How Does Marriott International's P/E Ratio Compare To Its Peers?
Simply Wall St - – Full articleMarriott International, Inc. (NASDAQ:MAR) Has Attractive Fundamentals
Help shape the future of investing tools and you could win a $250 gift card! … Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Marriott International, Inc.
Simply Wall St - – Full articleWhy Dividend Hunters Love Marriott International, Inc. (NASDAQ:MAR)
(NASDAQ:MAR) be an attractive dividend share to own for the long haul? Investors are often drawn to a company for its dividend.. … Yet sometimes, investors buy a stock for its dividend and lose money because the share price falls by more than they earned in dividend payments.. … Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1
Simply Wall St - – Full articleWhy Marriott International, Inc.'s (NASDAQ:MAR) High P/E Ratio Isn't Necessarily A Bad Thing
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … How Do I Calculate Marriott International's Price To Earnings Ratio … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleMarriott International, Inc. (NASDAQ:MAR): Poised For Long-Term Success?
Marriott International, Inc.'s (NASDAQ:MAR) announced its latest earnings update in December 2018, whicha
Simply Wall St - – Full articleDo Insiders Own Shares In Marriott International, Inc. (NASDAQ:MAR)?
We'd expect to see both institutions and retail investors owning a portion of the company. … Our analysis of the ownership of the company, below, shows that. … See our latest analysis for Marriott International
Simply Wall St - – Full articleIs Marriott International, Inc.'s (NASDAQ:MAR) CEO Salary Justified?
This report will, first, examine the CEO compensation levels in comparison to CEO compensation at other big companies. … How Does Arne Sorenson's Compensation Compare With Similar Sized Companies. … has a market capitalization of US$42b, and pays its CEO total annual compensation worth US$13m.
Simply Wall St - – Full articleIf You Had Bought Marriott International Stock Five Years Ago, You Could Pocket A 136% Gain Today
One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, Marriott International achieved compound earnings per share (EPS) growth of 19% per year. … That makes the EPS growth particularly close to the yearly share price growth of 19%.
Simply Wall St - – Full articleCompany 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 June 4, 2019, it operated approximately 7,000 properties under 30 hotel brands in 131 countries and territories. Marriott International, Inc. was founded in 1927 and is headquartered in Bethesda, Maryland.
Details
| Name: | Marriott International, Inc. |
| MAR | |
| Exchange: | NasdaqGS |
| Founded: | 1927 |
| $45,179,924,997 | |
| 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
Industry
| Hotels, Resorts and Cruise Lines | |
| Consumer Services |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/06/19 23:41 |
| End of day share price update: | 2019/06/19 00:00 |
| Last estimates confirmation: | 2019/06/19 |
| 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.
