Marriott International, Inc. (MAR) Income Statement
MAR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMAR revenue and net income
Where MAR's revenue goes
2025Each bar shows an amount and its share of revenue. MAR kept 9.9% of revenue as net income.
MAR profit margins
MAR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +4.3% | +8.0% | +19.9% | +6.1% |
| Gross profit | +9.5% | +7.0% | +30.8% | +10.2% |
| Operating income | +9.9% | +6.2% | +118.1% | +11.9% |
| Net income | +9.5% | +3.3% | — | +11.7% |
| EPS (diluted) | +7.3% | +14.4% | — | +12.3% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MAR quarterly EPS vs estimates
Marriott beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 2, 2026 (estimate $2.84).
MAR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $26.19B | $25.10B | $23.71B | $20.77B | $13.86B | $10.57B | $20.97B | $20.76B | $20.45B | $15.41B |
| Cost of revenue | $20.60B | $20.00B | $18.59B | $16.21B | $11.06B | $9.11B | $17.75B | $17.08B | $16.64B | $12.73B |
| Gross profit | $5.59B | $5.10B | $5.12B | $4.56B | $2.80B | $1.46B | $3.22B | $3.67B | $3.81B | $2.67B |
| Research & development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $965.0M | $1.07B | $1.01B | $891.0M | $823.0M | $1.04B | $938.0M | $927.0M | $921.0M | $1.15B |
| Total operating expenses | $1.45B | $1.33B | $1.26B | $1.10B | $1.05B | $1.38B | $1.42B | $1.31B | $1.31B | $1.25B |
| Operating income | $4.14B | $3.77B | $3.86B | $3.46B | $1.75B | $84.0M | $1.80B | $2.37B | $2.50B | $1.42B |
| Interest income | $42.0M | $40.0M | $29.0M | $26.0M | $28.0M | $27.0M | $26.0M | $22.0M | $38.0M | $35.0M |
| Interest expense | $809.0M | $695.0M | $565.0M | $403.0M | $420.0M | $445.0M | $394.0M | $340.0M | $288.0M | $234.0M |
| Income before taxes | $3.39B | $3.15B | $3.38B | $3.11B | $1.18B | −$466.0M | $1.60B | $2.35B | $2.98B | $1.24B |
| Income taxes | $793.0M | $776.0M | $295.0M | $756.0M | $81.0M | −$199.0M | $326.0M | $438.0M | $1.52B | $431.0M |
| Net income | $2.60B | $2.38B | $3.08B | $2.36B | $1.10B | −$267.0M | $1.27B | $1.91B | $1.46B | $808.0M |
| EBITDA | $4.79B | $4.34B | $4.38B | $3.92B | $1.90B | $457.0M | $2.40B | $2.97B | $3.55B | $1.63B |
| EPS (diluted) | $10.02 | $9.34 | $10.03 | $6.70 | $3.18 | −$0.20 | $6.01 | $5.69 | $4.36 | $3.66 |
| Gross margin | 21.3% | 20.3% | 21.6% | 21.9% | 20.2% | 13.8% | 15.3% | 17.7% | 18.6% | 17.3% |
| Operating margin | 15.8% | 15.0% | 16.3% | 16.7% | 12.6% | 0.8% | 8.6% | 11.4% | 12.2% | 9.2% |
| Net margin | 9.9% | 9.5% | 13.0% | 11.4% | 7.9% | −2.5% | 6.1% | 9.2% | 7.1% | 5.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.07B | $6.65B | $6.69B | $6.49B | $6.74B | $6.26B | $6.43B | $6.25B | $6.44B | $5.98B | $6.09B | $5.93B |
| Cost of revenue | $5.52B | $5.31B | $5.58B | $5.07B | $4.93B | $5.02B | $5.29B | $4.98B | $4.94B | $4.79B | $4.99B | $4.53B |
| Gross profit | $1.55B | $1.34B | $1.11B | $1.42B | $1.81B | $1.25B | $1.14B | $1.27B | $1.50B | $1.19B | $1.11B | $1.40B |
| Sales, general & admin | $220.0M | $219.0M | $241.0M | $234.0M | $245.0M | $245.0M | $289.0M | $276.0M | $248.0M | $261.0M | $330.0M | $239.0M |
| Total operating expenses | $325.0M | $277.0M | $329.0M | $244.0M | $581.0M | $297.0M | $387.0M | $330.0M | $303.0M | $314.0M | $389.0M | $298.0M |
| Operating income | $1.23B | $1.06B | $777.0M | $1.18B | $1.24B | $948.0M | $752.0M | $944.0M | $1.20B | $876.0M | $718.0M | $1.10B |
| Interest income | $20.0M | $10.0M | $9.0M | $12.0M | $12.0M | $9.0M | $10.0M | $11.0M | $9.0M | $10.0M | $9.0M | $7.0M |
| Interest expense | $221.0M | $214.0M | $208.0M | $206.0M | $203.0M | $192.0M | $180.0M | $179.0M | $173.0M | $163.0M | $153.0M | $146.0M |
| Income before taxes | $1.04B | $858.0M | $582.0M | $994.0M | $1.05B | $764.0M | $598.0M | $786.0M | $1.04B | $727.0M | $581.0M | $989.0M |
| Income taxes | −$278.0M | $210.0M | $137.0M | $266.0M | $291.0M | $99.0M | $143.0M | $202.0M | $268.0M | $163.0M | −$267.0M | $237.0M |
| Net income | $766.0M | $648.0M | $445.0M | $728.0M | $763.0M | $665.0M | $455.0M | $584.0M | $772.0M | $564.0M | $848.0M | $752.0M |
| EBITDA | $1.49B | $1.23B | $967.0M | $1.34B | $1.40B | $1.09B | $1.06B | $1.04B | $1.26B | $1.01B | $807.0M | $1.20B |
| EPS (diluted) | $3.19 | $2.72 | $2.58 | $2.47 | $2.65 | $2.32 | $2.45 | $2.26 | $2.50 | $2.13 | $3.57 | $2.11 |
| Gross margin | 22.0% | 20.2% | 16.5% | 21.9% | 26.9% | 19.9% | 17.7% | 20.4% | 23.3% | 19.9% | 18.2% | 23.6% |
| Operating margin | 17.4% | 16.0% | 11.6% | 18.2% | 18.3% | 15.1% | 11.7% | 15.1% | 18.6% | 14.7% | 11.8% | 18.5% |
| Net margin | 10.8% | 9.7% | 6.7% | 11.2% | 11.3% | 10.6% | 7.1% | 9.3% | 12.0% | 9.4% | 13.9% | 12.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MAR's financial statements (latest annual report filed February 10, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MAR financial results
In fiscal year 2025 (ended December 31, 2025), Marriott reported revenue of $26.2 billion, up 4.3% from the year before. It had net income of $2.6 billion (up 9.5%), a net profit margin of 9.9%. Diluted earnings per share came to $10.02. Over five years revenue grew at an average rate of 19.9% a year.
See the MAR stock overview for the latest quote and news, or the MAR chart for price history and technical indicators.
MAR income statement FAQ
What is Marriott's annual revenue?
Marriott reported total revenue of $26.2 billion for fiscal year 2025, which ended on December 31, 2025. That was up 4.3% from $25.1 billion the previous year.
Is Marriott profitable?
Yes. Marriott reported net income of $2.6 billion in fiscal 2025, a net profit margin of 9.9%; its operating margin was 15.8%.
What is Marriott's gross margin?
Marriott's gross margin was 21.3% in fiscal 2025: for every $100 of revenue, Marriott kept $21 after the direct cost of its products and services.
How fast is Marriott growing?
Revenue grew 19.9% a year on average over the last five fiscal years, from $10.6 billion to $26.2 billion.
What are Marriott's earnings per share?
Marriott earned $10.02 per diluted share in fiscal 2025, compared with $9.34 a year earlier.
When will Marriott report its next earnings?
Marriott is expected to report results for the quarter ending September 30, 2026 on November 2, 2026 before the market opens.
When does Marriott's fiscal year end?
Marriott's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 10, 2026.