# Marriott International Class A Common Stock (MAR) — Stock CV

Marriott International is a $95.4B consumer company. Revenue grew 4.7% over the last year, it keeps 10¢ of every dollar of sales as profit, and its net debt equals ~5.1 years of free cash flow. It trades at 36.9× earnings — in the most expensive third of its own history.

> Marriott operates 1.8 million rooms across roughly 30 brands. At the end of 2025, luxury represented roughly 10% of total rooms, premium was 42%, select service was 46%, and midscale was 2%.

## Identity

- **Ticker**: MAR
- **Sector**: Consumer Cyclical
- **Industry**: Travel Services
- **Headquarters**: BETHESDA, MD
- **Employees**: 414 000
- **Website**: https://www.marriott.com
- **Market cap**: $95.4B
- **Last price**: $365.88
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $26.9B
- **Net income**: $2.59B
- **Free cash flow**: $3.13B
- **Net debt**: $15.8B
- **P/E**: 36.9
- **Revenue growth (YoY)**: 4.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 44 |
| Growth | 70 |
| Profitability | 78 |
| Health | 18 |
| Quality | 97 |
| Moat | 75 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +4.7% YoY
- [x] Profitable — $2.59B TTM
- [x] Profit growing — +9.5% YoY
- [x] Generates cash — $3.13B TTM
- [ ] Debt under control — ~5.1y of cash flow to repay
- [x] Established company — $95.4B market cap
- [x] Not printing shares — -16.0% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [ ] Financially stable — health score 18/100
- [x] Pays a dividend — yield 0.77%
- [x] Valuation not extreme — P/E 36.9

## Experience (career milestones)

- **2024** — Marriott announced plans to expand into outdoor-focused lodging through the acquisition of…
- **FY2023** — Best year on record: $3.08B net income
- **FY2016** — First recorded profitable year: $780M net income
- **FY2016** — Revenue already above $10B: $17.1B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **Sep 23, 2016** — Following receipt of regulatory approvals, Marriott closed the merger with Starwood on September 23, 2016, creating…
- **Nov 16, 2015** — Marriott announced the acquisition of Starwood for $13 billion
- **2007** — Marriott became the first hotel chain to serve food that is completely free of trans fats at all of its…
- **2003** — The company completed the corporate spin-off of its senior-living properties (now part of Sunrise Senior…
- **1998** — Marriott acquired majority ownership of the Ritz-Carlton
- **1995** — Marriott acquired a 49% interest in the Ritz-Carlton Hotel Company
- **1972** — The Marriott lodging division acquired the Greek-based Sun Line cruise line
- **1967** — Hot Shoppes, Inc. was renamed the Marriott Corporation in 1967
- **1953** — Hot Shoppes, Inc. became a public company via an initial public offering

## Strengths

- Interest covered 5.5× by operating earnings
- High returns on invested capital (ROIC 21.5%)
- Piotroski F-Score 7/9 — fundamentally strong checklist

## Watch-outs

- Loss-making in 1 of the recent years
- Net debt equals ~5.1 years of free cash flow

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $13.9B | $1.10B | $994M |
| FY2022 | $20.8B | $2.36B | $2.03B |
| FY2023 | $23.7B | $3.08B | $2.72B |
| FY2024 | $25.1B | $2.38B | $2.00B |
| FY2025 | $26.2B | $2.60B | $2.61B |

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Source: https://stockcv.com/MAR — derived from company filings; may be delayed or incomplete. Information, not investment advice.