Marriott International, Inc. (MAR) Key Metrics
MAR valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $101.19B
- Enterprise value
- $115.26B
- P/E (TTM)
- 40.1 10-yr median 32.1
- Forward P/E
- 26.5
- PEG ratio
- 1.76
- Price / sales
- 13.7 10-yr median 2.7
- Price / book
- 443.6 10-yr median 38.5
- EV / EBITDA
- 19.7 10-yr median 20.2
- Dividend yield
- 0.75% $2.92 a year
- Beta
- 1.17
MAR key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMAR valuation Price multiples at each fiscal year-end price.
MAR returns How much profit the business earns on the capital it uses.
MAR per-share figures Results divided by the shares outstanding at year-end.
MAR financial health Debt, liquidity and how easily interest is covered.
MAR efficiency & capital use Working capital cycle and where the cash goes.
MAR valuation history
MAR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MAR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MAR cash returned to shareholders
MAR price vs earnings per share
MAR key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $83.58B | $79.55B | $68.31B | $48.51B | $54.41B | $42.98B | $50.80B | $38.45B | $51.56B | $24.05B |
| Enterprise value | $100.30B | $94.40B | $80.73B | $59.10B | $64.26B | $53.30B | $62.40B | $47.48B | $59.42B | $31.70B |
| P/E ratio | 32.1 | 33.5 | 22.2 | 20.6 | 49.5 | — | 39.9 | 20.2 | 35.3 | 29.8 |
| Price / sales | 3.2 | 3.2 | 2.9 | 2.3 | 3.9 | 4.1 | 2.4 | 1.9 | 2.5 | 1.6 |
| Price / book | — | — | — | 85.4 | 38.5 | 100.0 | 72.3 | 17.3 | 14.4 | 4.5 |
| Price / free cash flow | 32.0 | 39.8 | 25.1 | 23.9 | 54.7 | 28.6 | 49.2 | 21.4 | 26.0 | 16.9 |
| Price / operating cash flow | 26.0 | 28.9 | 21.5 | 20.5 | 46.2 | 26.2 | 30.2 | 16.3 | 23.2 | 14.9 |
| EV / sales | 3.8 | 3.8 | 3.4 | 2.8 | 4.6 | 5.0 | 3.0 | 2.3 | 2.9 | 2.1 |
| EV / EBITDA | 20.9 | 21.8 | 18.4 | 15.1 | 33.9 | 116.6 | 26.0 | 16.0 | 16.7 | 19.4 |
| EV / free cash flow | 38.5 | 47.2 | 29.7 | 29.1 | 64.6 | 35.4 | 60.5 | 26.4 | 29.9 | 22.3 |
| Earnings yield | 3.1% | 3.0% | 4.5% | 4.9% | 2.0% | −0.6% | 2.5% | 5.0% | 2.8% | 3.4% |
| Free cash flow yield | 3.1% | 2.5% | 4.0% | 4.2% | 1.8% | 3.5% | 2.0% | 4.7% | 3.9% | 5.9% |
| Dividend yield | 0.9% | 0.9% | 0.9% | 0.7% | 0.2% | 0.4% | 1.2% | 1.4% | 0.9% | 1.6% |
| Shareholder yield (dividends + buybacks) | 4.8% | 5.6% | 6.6% | 6.0% | 0.3% | 0.7% | 5.7% | 8.8% | 6.8% | 3.9% |
| Share price at fiscal year-end | $310.24 | $278.94 | $225.51 | $148.89 | $165.24 | $131.92 | $151.43 | $108.56 | $135.73 | $82.68 |
| Per share | ||||||||||
| Revenue per share | $97.20 | $88.01 | $78.29 | $63.76 | $42.08 | $32.45 | $62.51 | $58.61 | $53.84 | $52.96 |
| Earnings per share | $9.65 | $8.33 | $10.18 | $7.24 | $3.34 | −$0.82 | $3.79 | $5.38 | $3.84 | $2.78 |
| Operating cash flow per share | $11.92 | $9.64 | $10.47 | $7.25 | $3.57 | $5.03 | $5.02 | $6.65 | $5.86 | $5.57 |
| Free cash flow per share | $9.68 | $7.01 | $8.97 | $6.23 | $3.02 | $4.62 | $3.08 | $5.08 | $5.23 | $4.88 |
| Cash per share | $1.33 | $1.39 | $1.12 | $1.56 | $4.23 | $2.69 | $0.67 | $0.89 | $1.01 | $2.95 |
| Book value per share | −$14.00 | −$10.49 | −$2.25 | $1.74 | $4.29 | $1.32 | $2.10 | $6.28 | $9.43 | $18.42 |
| Tangible book value per share | −$85.43 | −$74.37 | −$61.93 | −$52.34 | −$50.36 | −$54.43 | −$50.63 | −$42.90 | −$37.98 | −$39.57 |
| Dividends per share | $2.67 | $2.39 | $1.94 | $0.99 | $0.27 | $0.48 | $1.82 | $1.53 | $1.27 | $1.29 |
| Capex per share | $2.24 | $2.63 | $1.49 | $1.02 | $0.56 | $0.41 | $1.95 | $1.57 | $0.63 | $0.68 |
| Debt per share | $63.41 | $53.44 | $42.13 | $34.06 | $34.12 | $34.37 | $35.24 | $26.39 | $21.68 | $29.24 |
| Shares outstanding | 269.4M | 285.2M | 302.9M | 325.8M | 329.3M | 325.8M | 335.5M | 354.2M | 379.9M | 290.9M |
| Change in shares outstanding | −5.5% | −5.8% | −7.0% | −1.1% | +1.1% | −2.9% | −5.3% | −6.8% | +30.6% | +6.6% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | — | — | — | 237.9% | 119.2% | −47.1% | 87.0% | 65.7% | 32.6% | 91.5% |
| Return on invested capital (ROIC) | 25.6% | 24.1% | 30.8% | 23.4% | 14.8% | 0.6% | 12.2% | 17.0% | 10.2% | 13.8% |
| Return on assets (ROA) | 9.7% | 9.2% | 12.2% | 9.4% | 4.4% | −1.1% | 5.2% | 8.0% | 6.1% | 5.3% |
| Return on tangible assets | 31.3% | 29.8% | 40.6% | 32.8% | 14.5% | −4.1% | 17.3% | 30.4% | 24.6% | 11.1% |
| Free cash flow margin | 10.0% | 8.0% | 11.5% | 9.8% | 7.2% | 14.2% | 4.9% | 8.7% | 9.7% | 9.2% |
| Income quality (OCF / net income) | 1.23 | 1.16 | 1.03 | 1.00 | 1.07 | — | 1.32 | 1.24 | 1.53 | 2.00 |
| Financial health | ||||||||||
| Total debt | $17.08B | $15.24B | $12.76B | $11.10B | $11.24B | $11.20B | $11.82B | $9.35B | $8.24B | $8.51B |
| Cash & short-term investments | $358.0M | $396.0M | $338.0M | $507.0M | $1.39B | $877.0M | $225.0M | $316.0M | $383.0M | $858.0M |
| Net debt | $16.73B | $14.85B | $12.42B | $10.59B | $9.84B | $10.32B | $11.60B | $9.03B | $7.86B | $7.65B |
| Debt / equity | — | — | — | 19.54 | 7.95 | 26.04 | 16.82 | 4.20 | 2.30 | 1.59 |
| Debt / assets | 0.62 | 0.58 | 0.50 | 0.45 | 0.44 | 0.45 | 0.47 | 0.39 | 0.34 | 0.35 |
| Net debt / EBITDA | 3.49 | 3.42 | 2.84 | 2.70 | 5.19 | 22.59 | 4.84 | 3.04 | 2.21 | 4.69 |
| Current ratio | 0.43 | 0.40 | 0.43 | 0.45 | 0.57 | 0.49 | 0.47 | 0.42 | 0.47 | 0.65 |
| Quick ratio | 0.43 | 0.40 | 0.43 | 0.45 | −0.02 | −0.03 | −0.02 | 0.42 | 0.47 | 0.51 |
| Interest coverage | 5.1 | 5.4 | 6.8 | 8.6 | 4.2 | 0.2 | 4.6 | 7.0 | 8.7 | 6.1 |
| Working capital | −$4.81B | −$5.16B | −$4.45B | −$4.03B | −$2.78B | −$2.93B | −$3.55B | −$3.73B | −$3.06B | −$1.78B |
| Invested capital | $12.95B | $11.85B | $11.74B | $11.16B | $11.26B | $10.75B | $12.30B | $11.26B | $11.44B | $13.01B |
| Tangible asset value | −$23.01B | −$21.21B | −$18.76B | −$17.05B | −$16.59B | −$17.73B | −$16.99B | −$15.19B | −$14.33B | −$11.51B |
| Net current asset value | −$27.73B | −$25.69B | −$23.05B | −$20.93B | −$20.51B | −$21.45B | −$21.22B | −$18.77B | −$17.52B | −$15.41B |
| Graham number | — | — | — | $16.85 | $17.96 | — | $13.37 | $27.59 | $28.54 | $33.92 |
| Graham net-net per share | −$106.80 | −$93.55 | −$79.18 | −$66.95 | −$58.84 | −$63.16 | −$61.71 | −$55.21 | −$48.44 | −$55.95 |
| Capital allocation | ||||||||||
| Dividends paid | $718.0M | $682.0M | $587.0M | $321.0M | $90.0M | $156.0M | $612.0M | $543.0M | $482.0M | $374.0M |
| Share buybacks (net) | $3.30B | $3.76B | $3.95B | $2.57B | $90.0M | $150.0M | $2.26B | $2.85B | $3.01B | $568.0M |
| Dividend payout ratio | 27.6% | 28.7% | 19.0% | 13.6% | 8.2% | — | 48.1% | 28.5% | 33.0% | 46.3% |
| Dividends + buybacks / free cash flow | 154.1% | 222.3% | 167.0% | 142.1% | 18.1% | 20.3% | 278.3% | 188.4% | 175.9% | 66.3% |
| Capex / revenue | 2.3% | 3.0% | 1.9% | 1.6% | 1.3% | 1.3% | 3.1% | 2.7% | 1.2% | 1.3% |
| Capex / operating cash flow | 18.8% | 27.3% | 14.3% | 14.0% | 15.5% | 8.2% | 38.8% | 23.6% | 10.8% | 12.3% |
| Capex / depreciation | 1.01 | 1.52 | 1.04 | 1.18 | 0.62 | 0.28 | 1.62 | 1.96 | 0.86 | 1.25 |
| Stock-based compensation / revenue | 0.9% | 0.9% | 0.9% | 0.9% | 1.3% | 1.9% | 0.9% | 0.9% | 0.9% | 1.4% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 3.7% | 4.3% | 4.3% | 4.3% | 5.9% | 9.8% | 4.5% | 4.5% | 4.5% | 7.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 39.8 | 40.0 | 40.7 | 40.0 | 49.4 | 71.9 | 39.4 | 36.1 | 32.7 | 33.1 |
| Days of inventory on hand | — | — | — | — | 111.5 | 124.7 | 66.7 | — | — | 13.1 |
| Days payables outstanding | 14.0 | 13.7 | 14.6 | 16.6 | 20.7 | 25.0 | 15.3 | 16.6 | 16.1 | 18.3 |
| Cash conversion cycle (days) | 25.8 | 26.3 | 26.1 | 23.4 | 140.2 | 171.6 | 90.8 | 19.5 | 24.9 | 27.9 |
| Receivables turnover | 9.18 | 9.12 | 8.98 | 9.12 | 7.39 | 5.08 | 9.26 | 10.11 | 11.15 | 11.01 |
| Payables turnover | 26.12 | 26.65 | 25.05 | 22.03 | 17.65 | 14.61 | 23.88 | 22.04 | 22.64 | 19.90 |
| Inventory turnover | — | — | — | — | 3.27 | 2.93 | 5.47 | — | — | 27.96 |
| Asset turnover | 0.97 | 0.97 | 0.94 | 0.82 | 0.55 | 0.42 | 0.86 | 0.87 | 0.85 | 1.02 |
| Average receivables | $2.85B | $2.75B | $2.64B | $2.28B | $1.88B | $2.08B | $2.26B | $2.05B | $1.83B | $1.40B |
| Average payables | $788.5M | $750.5M | $742.0M | $736.0M | $626.5M | $623.5M | $743.5M | $775.0M | $735.0M | $640.0M |
| Average inventory | — | — | — | — | $3.38B | $3.11B | $3.24B | — | $378.0M | $455.5M |
| Intangibles / total assets | 69.9% | 69.6% | 70.4% | 71.0% | 70.4% | 73.5% | 70.6% | 73.5% | 75.2% | 69.9% |
Computed from MAR's annual financial statements (latest annual report filed February 10, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MAR valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Marriott traded at 32.1 times earnings, against a 10-year median of 32.1. Based on the latest twelve months, the trailing P/E is 40.1 and the forward P/E is 26.5. Marriott earned a return on invested capital of 25.6% in fiscal 2025. It ended the year with $17.1 billion of debt and $358.0 million in cash and short-term investments, net debt of $16.7 billion. It returned $4.0 billion to shareholders: $718.0 million in dividends and $3.3 billion in share buybacks, 154% of free cash flow. The share count fell 7.4% from 290.9M to 269.4M over 9 years.
See the MAR income statement, the MAR chart for price history, or the MAR stock overview for the latest quote and news.
MAR key metrics FAQ
What is Marriott's P/E ratio?
Marriott's trailing P/E ratio is 40.1 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 26.5. At the end of fiscal 2025 it was 32.1, compared with a 10-year median of 32.1.
What is Marriott's EV/EBITDA?
Marriott's enterprise value was 20.9 times EBITDA at the end of fiscal 2025 (enterprise value $100.3 billion, EBITDA $4.8 billion); the current EV/EBITDA is 19.7.
What is Marriott's ROIC?
Marriott's return on invested capital was 25.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Marriott have?
Marriott had total debt of $17.1 billion at the end of fiscal 2025 and $16.7 billion of net debt (3.49 times EBITDA).
What is Marriott's dividend yield?
Marriott's forward dividend yield is 0.75%. Marriott paid $718.0 million in dividends in fiscal 2025 ($2.67 per share), a payout ratio of 27.6%.
Does Marriott buy back its shares?
Yes. Marriott spent $3.3 billion on net share repurchases in fiscal 2025 Shares outstanding changed −5.5% over the year, to 269.4M..
What is Marriott's free cash flow yield?
Marriott generated $2.6 billion of free cash flow in fiscal 2025, a free cash flow yield of 3.1% on its market value at year-end ($83.6 billion).
What is Marriott's current ratio?
Marriott's current ratio was 0.43 at the end of fiscal 2025: current assets were 0.43 times current liabilities.