Marriott International Balance Sheet Health
Financial Health criteria checks 2/6
Marriott International has a total shareholder equity of $-4.1B and total debt of $16.4B, which brings its debt-to-equity ratio to -401.1%. Its total assets and total liabilities are $27.9B and $31.9B respectively. Marriott International's EBIT is $4.3B making its interest coverage ratio 5.4. It has cash and short-term investments of $454.0M.
Key information
-401.10%
Debt to equity ratio
US$16.41b
Debt
| Interest coverage ratio | 5.4x |
| Cash | US$454.00m |
| Equity | -US$4.09b |
| Total liabilities | US$31.95b |
| Total assets | US$27.86b |
Recent financial health updates
No updates
Recent updates
Narrative Update • May 14
MAR: Future Outlook Will Balance Buybacks With Expanding Luxury Wellness And Legal Risks
Analysts have slightly raised their price target on Marriott International to about $377 from roughly $372, citing updates to their models that reflect a modestly lower discount rate, a somewhat different revenue growth profile, a higher profit margin assumption near 12.2%, and a revised future P/E estimate around 30.4x. What's in the News A class action lawsuit was filed alleging violations of the Americans with Disabilities Act and California state laws related to exposure to fragrance compounds at various Marriott locations, with claims of short term and chronic health effects for customers and employees (Lawsuits & Legal Issues).Seeking Alpha • May 07
Marriott International: Its Upside Has Already Traveled Too Long, Too Far
Summary Marriott International demonstrates robust growth and margin expansion, driven by strategic pricing, brand strength, and a resilient travel market. Q1 2026 revenue grew 6.2% YoY to $6.65B, with operating margin rising to 16.0%, reflecting effective cost management and global expansion. Despite strong fundamentals, MAR appears fully priced; technicals signal waning optimism and increased selling pressures after recent overbuying. I maintain a hold rating on MAR, citing high valuation, potential downside risks, and early bearish technical signals despite continued operational strength. Read the full article on Seeking AlphaNarrative Update • Apr 27
MAR: Future Outlook Will Balance Share Repurchases With Expanding Luxury Wellness Platform
Analysts have lifted their price target for Marriott International to $371.88 from $356.92, citing updated assumptions for long term revenue growth, profit margins and future P/E. These factors feed into a refreshed fair value view.Narrative Update • Apr 10
MAR: Future Outlook Will Balance Buybacks With Expanding Luxury Wellness Resort Platform
Analysts have nudged their fair value estimate for Marriott International slightly higher from $356.12 to $356.92, reflecting updated views on revenue growth, profit margins, and forward P/E assumptions. What's in the News Marriott plans a joint venture with the Leali family to bring luxury wellness brand Lefay into its portfolio, with Lefay positioned as the first brand in the group focused exclusively on luxury wellness hospitality, including two existing Italian resorts and a pipeline of three additional properties in Tuscany, Southern Italy, and the Swiss Alps (Key Developments).Narrative Update • Mar 26
MAR: Future Outlook Will Balance Ongoing Buybacks With Expanding Luxury Resort Footprint
Analysts have nudged their fair value estimate for Marriott International slightly higher from $354.84 to $356.12, reflecting updated assumptions around the discount rate, long term profit margin expectations, and a modestly higher future P/E multiple. What's in the News Marriott signed an agreement with Kemmons Wilson Hospitality Partners to bring The Resort at Kapalua Bay, a luxury oceanfront property on Maui's northwest coast, into its luxury portfolio, with Marriott management effective March 14, 2026 (Key Developments).Narrative Update • Mar 12
MAR: Future Outlook Will Balance Buybacks With Expanding Midscale And Resort Footprint
Analysts have nudged their price target for Marriott International higher to $354.84 from $353.76, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations. What's in the News Several banks, including Scotia Capital (USA) Inc., HSBC Securities (USA) Inc., BofA Securities, Inc., U.S. Bancorp Investments, Inc., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, and Truist Securities, Inc., have been added as co lead underwriters for Marriott International, Inc.'s US$594.462m fixed income offering (Key Developments).Narrative Update • Feb 24
MAR: Future Outlook Will Balance Midscale Expansion, Buybacks And Measured Room Growth
Analysts have raised their price target for Marriott International to $353.76 from $321.48, citing updated assumptions around revenue growth, margins and future P/E expectations that together support a higher estimated fair value for the shares. What's in the News Marriott International has appointed multiple firms, including BofA Securities, U.S. Bancorp Investments, Wells Fargo Securities, HSBC Securities, Scotia Capital, J.P. Morgan Securities, and Truist Securities, as co lead underwriters for a $594.462 million fixed income offering, expanding the banking group supporting its debt issuance.
New Narrative • Feb 23
Asset-Light but Valuation-Heavy: A Fundamental Breakdown of Marriott ($MAR)
1. Business Model (How Marriott makes money) Marriott’s actual business is not about owning or building hotels; it acts as a global brand and technology platform that leverages an "Asset-Light" strategy.Analysis Article • Feb 13
Marriott International, Inc. Just Missed Earnings - But Analysts Have Updated Their Models
Investors in Marriott International, Inc. ( NASDAQ:MAR ) had a good week, as its shares rose 8.8% to close at US$355...Narrative Update • Feb 10
MAR: Future Outlook Will Balance Midscale Expansion, New Brands And Moderate Room Growth
Analysts now set a higher fair value estimate for Marriott International, lifting it by about US$6 to US$321.48, citing updated assumptions around the discount rate, long term revenue growth, profit margin profile and future P/E expectations. What's in the News Marriott reached 100 signed agreements for City Express by Marriott properties in the U.S. and Canada, with six hotels open in 2025 and four more expected by year end, highlighting ongoing build out of its midscale offering.Narrative Update • Jan 26
MAR: Future Outlook Will Balance Midscale Expansion, Brand Extensions And Moderate Room Growth
Analysts have lifted their implied price outlook for Marriott International from about US$302 to roughly US$316, citing updated assumptions for discount rates, revenue growth, profit margins, and a higher future P/E multiple. What's in the News Marriott has reached 100 signed agreements for City Express by Marriott properties in the U.S. and Canada, with six locations already open in 2025 and four more expected by year end, expanding its midscale presence across leisure and airport adjacent markets such as Kissimmee, Dulles, Amarillo, Sandusky, and Carson City (Key Developments).Narrative Update • Jan 11
MAR: Future Outlook Will Balance Midscale Expansion, Brand Extensions And Moderate Room Growth
Analysts have nudged their fair value estimate for Marriott International up from US$294.48 to US$301.76, citing updated assumptions around revenue growth, profit margins and forward P/E expectations. What's in the News Marriott has reached 100 signed agreements for City Express by Marriott properties across the U.S. and Canada, with six hotels already open in 2025 and four more expected by year end.Narrative Update • Dec 25
MAR: Future Outlook Will Balance New Hotel Expansion And Moderate Room Growth
Analysts have nudged their price target on Marriott International modestly higher, citing a slightly improved fair value estimate of around $294.50 per share. This revision is supported by incremental increases in projected revenue growth and future valuation multiples, which more than offset minor adjustments to discount rate and profit margin assumptions.Narrative Update • Dec 11
MAR: Future Outlook Will Balance New Series Brand Expansion And Steady Buybacks
Analysts have nudged their fair value estimate for Marriott International slightly higher, from approximately $291.92 to $292.12 per share. This reflects modestly increased confidence in the company’s long term earnings power despite a marginally higher discount rate.Narrative Update • Nov 27
MAR: Future Outlook Will Weigh Steady Profits Against New Market Expansion
Analysts have slightly increased their price target for Marriott International from $289.79 to $291.92, citing modest improvements in profit margin and a lower discount rate that supports long-term valuation. What's in the News Marriott launches Series by Marriott in India, adding 26 eco-sensitive hotels under The Fern Hotels & Resorts banner.Narrative Update • Nov 12
MAR: Future Expansion and Stable Profit Outlook Signal Balanced Opportunity Ahead
Analysts have raised their fair value target for Marriott International from $285.29 to $289.79 per share. They cited modest improvements in profit margin outlook and a lower discount rate as key factors behind the adjustment.Narrative Update • Sep 18
APAC And EMEA Expansion Will Shape Future Hospitality Trends
Marriott International's consensus analyst price target saw a slight increase to $285.29, as future P/E and discount rate metrics remained largely stable, supporting a minor upward valuation revision. What's in the News Marriott and Noble Investment Group continue rapid expansion of the StudioRes extended-stay brand, marking their 10th joint groundbreaking and maintaining a pipeline of over 50 projects, with about half under construction.Analysis Article • Sep 09
Is It Time To Consider Buying Marriott International, Inc. (NASDAQ:MAR)?
Marriott International, Inc. ( NASDAQ:MAR ) received a lot of attention from a substantial price movement on the...Analysis Article • Jul 30
Estimating The Fair Value Of Marriott International, Inc. (NASDAQ:MAR)
Key Insights Marriott International's estimated fair value is US$262 based on 2 Stage Free Cash Flow to Equity Marriott...Seeking Alpha • Mar 25
Holding On To Marriott Hotels As 2025 Recession Risk Paints Mixed Picture
Summary Marriott International gets its prior hotel rating from 2023 reaffirmed again, agreeing with the Seeking Alpha quant system rating but more cautious than analysts. The company is a leader among global hotel companies, with a diversified brand portfolio, and a rooms growth pipeline that could benefit from positive macro demand forecasts. Although having a strong profit margin in its sector, it is lagging in cashflow growth and also is very indebted with a negative equity. Although data and sentiments are mixed, there is increased recession risk in 2025 as per major financial websites, a potential downside for the travel sector. Read the full article on Seeking AlphaSeeking Alpha • Jan 23
Marriott International: When Fundamentals And Technicals Agree
Summary Marriott International, Inc. is a buy due to its market dominance, strategic business diversification, and strong liquidity. MAR's Q3 FY24 performance showed stable topline growth with a 6.6% YoY increase, driven by franchise fees and strategic pricing amid market recovery. Marriott's liquidity remains robust with stable borrowings and a high FCF/Sales Ratio of 41%, ensuring efficient revenue management and expansion returns. Despite limited growth potential, Marriott's strategic focus on a franchised-based model offers flexibility and stability, making it a good buy at the current price. The DCF Model and technical analysis agree and support its upside potential. Read the full article on Seeking AlphaSeeking Alpha • Jan 16
Marriott International Vs. InterContinental Hotels Group: Which High-Margin Hotel Stock Is The Better Buy?
Summary Hotel chains are under-considered investments for most investors, despite their strong historical and financial performance. Marriott and IHG Group are leading hotel operators with robust profit margins and growth prospects, but we think IHG is the better buy. MAR boasts higher profitability, but IHG's potential for margin improvement and a strong pipeline makes it a compelling investment with more room for appreciation. Both companies face some risks, but IHG's top and bottom line growth potential make it appear attractive in today's market. Read the full article on Seeking AlphaSeeking Alpha • Nov 30
Marriott International: A High-Expectation Investment
Summary Marriott International stock has been on a good run over the past year, outperforming the S&P 500. Marriott's underlying fee business is attractive. Given strong unit and revPAR growth, it is also performing quite well right now. That said, the stock trades on a circa 19x EV/EBITDA multiple and for 31x consensus EPS. Assumptions needed to justify this look quite aggressive. Read the full article on Seeking AlphaSeeking Alpha • Oct 22
Marriott International: The Right Time Will Come But It Is Not Now
Summary In 2Q24, Marriott International reported $6.4 billion in revenues, a 6% year-on-year growth, with a 4.9% increase in global RevPAR. Industry outlook remains strong despite slowdown in the United States. MAR expects global RevPAR to grow between 3% to 4% for the year. Concerns surrounding China is overblown. China's economy showed signs of bottoming out and is poised for a recovery. Valuation analysis suggests that MAR is overpriced and has an implied share price of $106.75, exhibiting a poor risk to reward profile. Read the full article on Seeking AlphaFinancial Position Analysis
Short Term Liabilities: MAR has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.
Long Term Liabilities: MAR has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.
Debt to Equity History and Analysis
Debt Level: MAR has negative shareholder equity, which is a more serious situation than a high debt level.
Reducing Debt: MAR's has negative shareholder equity, so we do not need to check if its debt has reduced over time.
Debt Coverage: MAR's debt is well covered by operating cash flow (20.9%).
Interest Coverage: MAR's interest payments on its debt are well covered by EBIT (5.4x coverage).
Balance Sheet
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/31 21:55 |
| End of Day Share Price | 2026/05/29 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Marriott International, Inc. is covered by 50 analysts. 20 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| John Staszak | Argus Research Company |
| Michael Bellisario | Baird |
| Felicia Kantor Hendrix | Barclays |