Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Marriott International delivered solid FY2025 results with revenue rising 4.3% to $26.2B and net income growing 9.5% to $2.6B, driven by strong operating leverage and robust free cash flow generation, even as negative stockholders' equity deepened due to aggressive share buybacks.
Revenue
$26.19B
+4.33% YoY
EPS (Diluted)
$9.51
+14.17% YoY
Operating Income
$4.14B
+9.93% YoY
Source: SEC XBRL
Marriott International (MAR) reported FY2025 revenue of $26.19B, up 4.3% year over year. Operating margin was 15.8%, up 0.8 points from 15.0% a year earlier. Operating cash flow was $3.21B, up 16.8% year over year.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 3.19 | 3.12 | Beat +2.2% |
| Mar 2026 | 2.72 | 2.58 | Beat +5.5% |
| Dec 2025This filing | 2.58 | 2.64 | Miss -2.2% |
| Sep 2025 | 2.47 | 2.42 | Beat +2.2% |
Reported EPS of $2.58 versus the $2.64 analyst consensus — a -2.2% miss for Dec 2025.
Compiled by AI from this SEC filing
Total revenue increased 4.3% year-over-year to $26.2B in FY2025 (from $25.1B in FY2024), reflecting sustained demand across Marriott's global portfolio of managed and franchised properties.
Source: 10-K Income Statement, Financial Data
Operating income grew 9.9% to $4.1B, outpacing revenue growth and expanding the operating margin from 15.0% to 15.8%, indicating effective cost management and favorable business mix.
Source: 10-K Income Statement & Key Ratios, Financial Data
Operating cash flow surged 16.8% to $3.2B, while investing outflows increased to $948M, reflecting continued investment in the business. Free cash flow remains robust, supporting capital returns to shareholders.
Source: 10-K Cash Flow Statement, Financial Data
Marriott returned approximately $3.3B to shareholders through share buybacks in FY2025 (down from $3.8B in FY2024), contributing to a 14.0% increase in basic EPS to $9.53 as the share count declined.
Source: 10-K Cash Flow Statement & Income Statement, Financial Data
Stockholders' equity deteriorated further to -$3.8B from -$3.0B in FY2024, a 26% decline, primarily driven by the cumulative impact of share repurchases exceeding retained earnings — a common but notable feature of Marriott's capital structure.
Source: 10-K Balance Sheet, Financial Data
Compiled by AI from this SEC filing · 2 high, 2 medium, 1 low
Marriott's stockholders' equity stands at -$3.8B, worsening from -$3.0B the prior year. This reflects years of share buybacks funded by debt and operating cash flows, which, while EPS-accretive, leaves the balance sheet technically insolvent on a book-value basis and increases financial fragility if earnings deteriorate.
Source: 10-K Balance Sheet, Financial Data
The current ratio of 0.43 indicates that Marriott's current liabilities of $8.4B significantly exceed current assets of $3.6B. While this is partly structural for asset-light hotel companies, it limits the company's short-term financial flexibility in a downturn.
Source: 10-K Balance Sheet & Key Ratios, Financial Data
With only $358M in cash and equivalents (down 9.6% YoY), Marriott spent $3.3B on buybacks in FY2025. Sustaining this pace depends heavily on continued strong operating cash flow, making the program vulnerable to any cyclical softening in travel demand.
Source: 10-K Balance Sheet & Cash Flow Statement, Financial Data
ROE of -69.0% is mathematically distorted by the negative equity base rather than reflecting poor profitability — ROA of 9.4% confirms solid asset-level returns. However, the capital structure amplifies downside risk and may concern lenders or counterparties evaluating creditworthiness.
Source: 10-K Key Ratios & Balance Sheet, Financial Data
Investing cash outflows grew 29.2% to $948M in FY2025, suggesting rising capital expenditure or acquisition activity. If this trend continues without a commensurate increase in operating cash flow, it could pressure free cash flow available for debt service and shareholder returns.
Source: 10-K Cash Flow Statement, Financial Data
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 26.19 $B | 25.10 $B | +4.33% |
Operating Income $B | 4.14 $B | 3.77 $B | +9.93% |
Net Income $B | 2.60 $B | 2.38 $B | +9.52% |
EPS (Basic) $ | 9.53 $ | 8.36 $ | +14.00% |
EPS (Diluted) $ | 9.51 $ | 8.33 $ | +14.17% |
Answers draw on this SEC filing and the data on this page
Marriott's Q2 FY2026 net fee revenues grew strongly on co-branded credit card momentum, but impairment and litigation charges capped profit growth.
Marriott International delivered solid Q1 2026 revenue growth of 6.2% to $6.65B with operating income up 12.2%, though net income dipped 2.6% to $648M and the company continues to carry a deeply negative stockholders' equity driven by aggressive share buybacks.
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