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Marriott International

Nasdaq:MAR
Snowflake Description

Proven track record with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MAR
Nasdaq
$45B
Market Cap
  1. Home
  2. US
  3. Consumer Services
Company description

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
2.2%
NasdaqGS:MAR
0.9%
US Hospitality
1.2%
US Market
1 Year Returns
-0.2%
NasdaqGS:MAR
-9.1%
US Hospitality
2.3%
US Market
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.
Price Volatility
MAR
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Marriott International undervalued based on future cash flows and its price relative to the stock market?

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.

NasdaqGS:MAR Discounted Cash Flow Data Sources
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.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:MAR
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.

NasdaqGS:MAR DCF 1st Stage: Next 10 year cash flow forecast
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
NasdaqGS:MAR DCF 2nd Stage: Terminal Value
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
NasdaqGS:MAR Total Equity Value
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
NasdaqGS:MAR Discount to Share Price
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.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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
NasdaqGS:MAR PE (Price to Earnings) Ratio Data Sources
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.

NasdaqGS:MAR PE (Price to Earnings) Ratio Calculation
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?
Raw Data
NasdaqGS:MAR PEG (Price to Earnings to Growth) Ratio Data Sources
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 .

NasdaqGS:MAR PEG (Price to Earnings to Growth) Ratio Calculation
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?
Raw Data
NasdaqGS:MAR PB (Price to Book) Ratio Data Sources
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
NasdaqGS:MAR PB (Price to Book) Ratio Calculation
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.
X
Value checks
We assess Marriott International's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Hospitality industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Hospitality industry average (and greater than 0)? (1 check)
  5. 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

 How is Marriott International expected to perform in the next 1 to 3 years based on estimates from 20 analysts?

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!
Annual Growth Rate
7.4%
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 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
Raw Data
NasdaqGS:MAR Future Growth Rates Data Sources
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
Raw Data
NasdaqGS:MAR Analysts Growth Expectations Data Sources
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 numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:MAR Future Estimates Data
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
NasdaqGS:MAR Past Financials Data
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.

Super high growth metrics
High Growth Checks
  • Marriott International's earnings are expected to grow by 7.4% yearly, however this is not considered high growth (20% yearly).
  • Marriott International's revenue is expected to grow by 10.9% yearly, however this is not considered high growth (20% yearly).
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
NasdaqGS:MAR 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.

NasdaqGS:MAR Future Estimates Data
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
NasdaqGS:MAR Past Financials Data
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
Future performance checks
We assess Marriott International's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
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 US Hospitality industry average in the past year (23.5% vs 1%).
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 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:MAR Past Revenue, Cash Flow and Net Income Data
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).
X
Past performance checks
We assess Marriott International's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Hospitality industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
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.
Net Worth
  • 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 0.3x 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.
Raw Data

All data from Marriott International Company Filings, last reported 2 months ago.

NasdaqGS:MAR Past Debt and Equity Data
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).
X
Financial health checks
We assess Marriott International's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Marriott International has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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
Dividend payments
1.42%
Current annual income from Marriott International dividends. Estimated to be 1.42% next year.
If you bought $2,000 of Marriott International shares you are expected to receive $28 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 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.
Raw Data
NasdaqGS:MAR Annualized Past and Future Dividends
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.

NasdaqGS:MAR Future Dividends Estimate Data
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
NasdaqGS:MAR Past Annualized Dividends Data
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.
Current Payout to shareholders
What portion of Marriott International's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.9x coverage).
X
Income/ dividend checks
We assess Marriott International's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. 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)
  7. 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

 What is the CEO of Marriott International's salary, the management and board of directors tenure and is there insider trading?

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 7.3 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:

7.3
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
7.3 yrs

Leeny Oberg

TITLE
Executive VP & CFO
COMPENSATION
$5M
AGE
57
TENURE
3.4 yrs

Tony Capuano

TITLE
Executive VP & Global Chief Development Officer
COMPENSATION
$6M
AGE
52
TENURE
10.2 yrs

Stephanie Linnartz

TITLE
COMPENSATION
$5M
AGE
49
TENURE
10.9 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
5 yrs

Bruce Hoffmeister

TITLE
Global Chief Information Officer
TENURE
8.2 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:

11.1
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
34.4 yrs

Arthur Gillis

TITLE
Non-Executive Chairman of Africa Development
TENURE
5.2 yrs

Debbie Harrison

TITLE
Global Officer of Marriott Culture & Business Councils and Director
AGE
61
TENURE
5 yrs

Larry Kellner

TITLE
Lead Director
COMPENSATION
$280K
AGE
59

Steve Reinemund

TITLE
Director
COMPENSATION
$265K
AGE
70
TENURE
12.2 yrs

Fritz Henderson

TITLE
Director
COMPENSATION
$270K
AGE
59
TENURE
6.1 yrs

George Muñoz

TITLE
Director
COMPENSATION
$286K
AGE
66
TENURE
16.8 yrs

Debra Lee

TITLE
Director
COMPENSATION
$264K
AGE
63
TENURE
15 yrs

Mary Bush

TITLE
Director
COMPENSATION
$260K
AGE
70
TENURE
11.1 yrs
Who owns this company?
Recent Insider Trading
  • Marriott International insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) 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
X
Management checks
We assess Marriott International's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. 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 -

Calculating 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 -

What 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 -

Marriott 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 -

Why 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 -

Why 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 -

Marriott 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 -

Do 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 -

Is 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 -

If 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 -

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 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
Staff numbers
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: 2019/06/19 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.