financial statements

The full income statement, balance sheet, and cash-flow statement for Marriott International (MAR), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	26.2B YoY+4.3%	25.1B YoY+5.8%	23.7B YoY+14.2%	20.8B YoY+49.9%	13.9B YoY+31.1%
Selling, general & administrative	870M YoY-7.9%	945M YoY+9.0%	867M YoY-2.7%	891M YoY+8.3%	823M YoY+8.0%
General & administrative	870M YoY-7.9%	945M YoY+9.0%	867M YoY-2.7%	891M YoY+8.3%	823M YoY+8.0%
Restructuring	—	68.0M	—	—	—
Amortization of intangibles	313M YoY+22.7%	255M YoY+12.8%	226M YoY+14.7%	197M	—
Provision for credit losses	—	—	29.0M YoY+7.4%	27.0M YoY+22.7%	22.0M YoY-83.8%
Operating income	4.14B YoY+9.9%	3.77B YoY-2.5%	3.86B YoY+11.6%	3.46B YoY+97.8%	1.75B YoY+1983.3%
Interest expense	809M YoY+16.4%	695M YoY+23.0%	565M YoY+40.2%	403M YoY-4.0%	420M YoY-5.6%
Interest & investment income	42.0M YoY+5.0%	40.0M YoY+33.3%	30.0M YoY+15.4%	26.0M YoY-7.1%	28.0M YoY+3.7%
Other non-operating income	9.00M YoY-71.0%	31.0M YoY-22.5%	40.0M YoY+263.6%	11.0M YoY+10.0%	10.0M YoY+11.1%
Equity-method income	11.0M YoY+37.5%	8.00M YoY-11.1%	9.00M YoY-50.0%	18.0M YoY+175.0%	-24.0M YoY+83.0%
Pre-tax income	3.39B YoY+7.7%	3.15B YoY-6.7%	3.38B YoY+8.5%	3.11B YoY+163.9%	1.18B YoY+353.2%
Income tax	793M YoY+2.2%	776M YoY+163.1%	295M YoY-61.0%	756M YoY+833.3%	81.0M YoY+140.7%
Net income	2.60B YoY+9.5%	2.38B YoY-23.0%	3.08B YoY+30.7%	2.36B YoY+114.6%	1.10B YoY+511.6%
	$9.51 YoY+14.2%	$8.33 YoY-18.2%	$10.18 YoY+40.6%	$7.24 YoY+116.8%	$3.34 YoY+507.3%
EPS (basic)	$9.53 YoY+14.0%	$8.36 YoY-18.3%	$10.23 YoY+40.7%	$7.27 YoY+116.4%	$3.36 YoY+509.8%
Weighted-avg shares (basic)	273M YoY-4.0%	284M YoY-5.7%	302M YoY-7.1%	324M YoY-0.9%	327M YoY+0.4%
Weighted-avg shares (diluted)	274M YoY-4.1%	285M YoY-5.8%	303M YoY-7.0%	326M YoY-1.1%	329M YoY+1.1%
Dividends per share	$2.64 YoY+9.5%	$2.41 YoY+23.0%	$1.96 YoY+96.0%	$1.00	—
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	3.58B YoY+2.8%	3.48B YoY+5.3%	3.31B YoY-0.1%	3.31B YoY-8.6%	3.63B YoY+28.4%
Cash & equivalents	358M YoY-9.6%	396M YoY+17.2%	338M YoY-33.3%	507M YoY-63.6%	1.39B YoY+58.8%
Inventory	11.0M YoY+0.0%	11.0M YoY+0.0%	11.0M YoY+0.0%	11.0M YoY+0.0%	11.0M YoY+0.0%
Prepaid expenses	168M YoY+0.0%	168M YoY+0.0%	168M YoY+0.0%	168M YoY+0.0%	168M YoY+0.0%
Other current assets	62.0M YoY+0.0%	62.0M YoY+0.0%	62.0M YoY+0.0%	62.0M YoY+0.0%	62.0M YoY+0.0%
	27.5B YoY+5.2%	26.2B YoY+2.0%	25.7B YoY+3.5%	24.8B YoY-2.9%	25.6B YoY+3.4%
Property, plant & equipment	1.95B YoY+6.6%	1.83B YoY+15.9%	1.58B YoY-0.3%	1.58B YoY+5.5%	1.50B YoY-0.7%
Operating lease right-of-use	941M YoY+11.4%	845M YoY-9.0%	929M YoY-5.9%	987M YoY-7.1%	1.06B YoY+41.2%
Goodwill	8.91B YoY+2.0%	8.73B YoY-1.7%	8.89B YoY+0.2%	8.87B YoY-2.2%	9.07B YoY-1.1%
Intangible assets	10.3B YoY+8.9%	9.49B YoY+3.2%	9.19B YoY+5.1%	8.75B YoY-2.0%	8.93B YoY-0.7%
Deferred tax assets	570M YoY-12.3%	650M YoY-3.4%	673M YoY+180.4%	240M YoY+5.3%	228M YoY-8.4%
Other non-current assets	799M YoY+11.6%	716M YoY+8.8%	658M YoY+12.7%	584M YoY-3.3%	604M YoY-1.9%
	8.40B YoY-2.9%	8.65B YoY+11.4%	7.76B YoY+5.8%	7.34B YoY+14.5%	6.41B YoY+11.4%
Accounts payable	814M YoY+6.7%	763M YoY+3.4%	738M YoY-1.1%	746M YoY+2.8%	726M YoY+37.8%
Short-term & current debt	755M YoY+0.0%	755M YoY+0.0%	755M YoY+0.0%	755M YoY+0.0%	755M YoY+0.0%
Current lease liability	99.0M YoY-4.8%	104M YoY-1.0%	105M YoY-0.9%	106M YoY-29.3%	150M YoY+2.0%
Other current liabilities	1.44B YoY-12.2%	1.64B YoY-6.4%	1.75B YoY+35.3%	1.30B YoY+11.1%	1.17B YoY-19.6%
Long-term debt	23.0M YoY-58.2%	55.0M YoY-1.8%	56.0M YoY-39.1%	92.0M YoY-31.9%	135M YoY-5.6%
Non-current lease liability	879M YoY+10.7%	794M YoY-10.5%	887M YoY-14.2%	1.03B YoY-5.8%	1.10B YoY+33.4%
Deferred tax liabilities	79.0M YoY-2.5%	81.0M YoY-61.2%	209M YoY-33.2%	313M YoY+85.2%	169M YoY+103.6%
Other non-current liabilities	1.26B YoY-8.1%	1.38B YoY-7.1%	1.48B YoY-19.5%	1.84B YoY-8.0%	2.00B YoY-15.4%
	-3.77B YoY-26.0%	-2.99B YoY-338.7%	-682M YoY-220.1%	568M YoY-59.8%	1.41B YoY+228.8%
Common stock	5.00M YoY+0.0%	5.00M YoY+0.0%	5.00M YoY+0.0%	5.00M YoY+0.0%	5.00M YoY+0.0%
Additional paid-in capital	6.35B YoY+2.8%	6.18B YoY+2.1%	6.05B YoY+1.4%	5.96B YoY+1.2%	5.89B YoY+0.7%
Retained earnings	18.4B YoY+11.4%	16.5B YoY+11.4%	14.8B YoY+20.2%	12.3B YoY+19.8%	10.3B YoY+11.9%
Treasury stock	27.9B YoY+13.2%	24.6B YoY+17.8%	20.9B YoY+23.0%	17.0B YoY+17.8%	14.4B YoY-0.4%
Accumulated other comprehensive income	-642M YoY+39.6%	-1.06B YoY-64.3%	-647M YoY+11.2%	-729M YoY-113.2%	-342M YoY-153.3%
Non-controlling interest	0.00	0.00	0.00	0.00	0.00
Total equity incl. non-controlling	568M YoY+0.0%	568M YoY+0.0%	568M YoY+0.0%	568M YoY-59.8%	1.41B YoY+228.8%
Total liabilities & equity	27.5B YoY+5.2%	26.2B YoY+2.0%	25.7B YoY+3.5%	24.8B YoY-2.9%	25.6B YoY+3.4%
Common shares outstanding	266M YoY-3.9%	277M YoY-4.8%	291M YoY-6.5%	311M YoY-4.8%	326M YoY+0.6%
Shares outstanding (cover)	268M YoY-3.4%	278M YoY-5.4%	294M YoY-7.2%	317M YoY-2.8%	326M YoY+0.4%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	3.21B YoY+16.8%	2.75B YoY-13.3%	3.17B YoY+34.2%	2.36B YoY+100.8%	1.18B YoY-28.2%
Depreciation & amortization	145M YoY+13.3%	128M YoY+4.9%	122M YoY+7.0%	114M YoY-17.4%	138M YoY-57.1%
Share-based compensation	236M YoY-0.4%	237M YoY+15.6%	205M YoY+6.8%	192M YoY+5.5%	182M YoY-9.5%
Deferred income taxes	62.0M YoY+180.5%	-77.0M YoY+85.8%	-543M YoY-450.3%	155M YoY+31.4%	118M YoY+138.2%
Other operating activities	176M YoY+4300.0%	4.00M YoY+102.9%	-138M YoY-181.6%	-49.0M YoY+66.0%	-144M YoY-112.6%
	-948M YoY-29.2%	-734M YoY-57.8%	-465M YoY-56.6%	-297M YoY-58.8%	-187M YoY-634.3%
Capital expenditure	604M YoY-19.5%	750M YoY+65.9%	452M YoY+36.1%	332M YoY+81.4%	183M YoY+35.6%
Proceeds from sale of PP&E	9.00M YoY-43.8%	16.0M YoY-77.5%	71.0M YoY+7000.0%	1.00M YoY-91.7%	12.0M YoY-95.4%
Other investing activities	-10.0M	0.00 YoY+100.0%	-33.0M YoY-6.5%	-31.0M YoY-172.1%	43.0M YoY-24.6%
	-2.32B YoY-18.5%	-1.96B YoY+31.7%	-2.86B YoY+3.3%	-2.96B YoY-539.7%	-463M YoY+55.2%
Long-term debt issued	3.44B YoY+16.6%	2.95B YoY+53.7%	1.92B YoY+95.1%	983M YoY-45.2%	1.79B YoY-49.6%
Long-term debt repaid	1.31B YoY+134.6%	558M YoY-18.4%	684M YoY-14.9%	804M YoY-63.0%	2.17B YoY+15.2%
Common stock issued	92.0M YoY+26.0%	73.0M YoY+151.7%	29.0M	0.00 YoY-100.0%	2.00M
Common stock repurchased	3.30B YoY-12.3%	3.76B YoY-4.8%	3.95B YoY+54.1%	2.57B	0.00 YoY-100.0%
Dividends paid	718M YoY+5.3%	682M YoY+16.2%	587M YoY+82.9%	321M	0.00 YoY-100.0%
Other financing activities	0.00	0.00 YoY+100.0%	-25.0M YoY-247.1%	17.0M YoY+54.5%	11.0M YoY+237.5%
Net change in cash	-54.0M YoY-191.5%	59.0M YoY+137.1%	-159M YoY+82.3%	-896M YoY-270.0%	527M YoY-17.8%
Interest paid	698M YoY+16.5%	599M YoY+25.8%	476M YoY+38.0%	345M YoY-11.8%	391M YoY+3.7%
Income taxes paid	1.07B YoY+13.0%	947M YoY+4.4%	907M YoY+90.5%	476M YoY+31.5%	362M YoY+29.7%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	83.3B YoY+7.4%	77.5B YoY+17.0%	66.2B YoY+40.5%	47.1B YoY-12.4%	53.8B YoY+25.8%
P/E	32.0× YoY-1.9%	32.6× YoY+41.1%	23.1× YoY+3.0%	22.4× YoY-54.2%	49.0×
P/S	3.2× YoY+2.9%	3.1× YoY+8.1%	2.9× YoY+14.1%	2.5× YoY-35.5%	3.9× YoY-4.0%
P/B	—	—	—	45.5× YoY+19.4%	38.1× YoY-61.8%
P/FCF	31.9× YoY-17.7%	38.8× YoY+38.5%	28.0× YoY+21.3%	23.1× YoY-57.4%	54.1× YoY+90.3%
Earnings yield	3.1% YoY+2.0%	3.1% YoY-29.1%	4.3% YoY-3.0%	4.5% YoY+118.2%	2.0%
FCF yield	3.1% YoY+21.5%	2.6% YoY-27.8%	3.6% YoY-17.5%	4.3% YoY+134.5%	1.8% YoY-47.5%
Dividend yield	0.9% YoY-1.5%	0.9% YoY-0.6%	0.9% YoY+29.4%	0.7%	—
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: MAR's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MAR filings on SEC EDGAR → Not investment advice.

MAR▼ financial statements

About this data

financial statements