Stock Analysis on Net
Stock Analysis on Net

Marriott International Inc. (NASDAQ:MAR)

This company has been moved to the archive! The financial data has not been updated since May 11, 2020.

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Marriott International Inc., adjusted financial ratios

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Activity Ratio
Total Asset Turnover
Reported 0.84 0.88 0.96 0.71 2.38
Adjusted 0.84 0.83 0.89 0.67 2.32
Liquidity Ratio
Current Ratio
Reported 0.47 0.42 0.46 0.65 0.43
Adjusted 0.49 0.44 0.46 0.66 0.44
Solvency Ratios
Debt to Equity
Reported 15.56 4.20 2.21 1.59 —
Adjusted 6.37 3.19 2.35 1.58 —
Debt to Capital
Reported 0.94 0.81 0.69 0.61 7.94
Adjusted 0.86 0.76 0.70 0.61 7.10
Financial Leverage
Reported 35.63 10.65 6.42 4.51 —
Adjusted 13.32 7.34 6.02 4.05 —
Profitability Ratios
Net Profit Margin
Reported 6.07% 9.19% 5.99% 4.57% 5.93%
Adjusted 6.06% 7.63% 7.61% 3.39% 5.96%
Return on Equity (ROE)
Reported 181.08% 85.71% 36.77% 14.56% —
Adjusted 68.16% 46.39% 40.79% 9.20% —
Return on Assets (ROA)
Reported 5.08% 8.05% 5.73% 3.23% 14.12%
Adjusted 5.12% 6.32% 6.78% 2.27% 13.84%

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Marriott International Inc. adjusted total asset turnover ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Marriott International Inc. adjusted current ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Marriott International Inc. adjusted debt-to-equity ratio deteriorated from 2017 to 2018 and from 2018 to 2019.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Marriott International Inc. adjusted debt-to-capital ratio deteriorated from 2017 to 2018 and from 2018 to 2019.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Marriott International Inc. adjusted financial leverage ratio increased from 2017 to 2018 and from 2018 to 2019.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Marriott International Inc. adjusted net profit margin ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Marriott International Inc. adjusted ROE improved from 2017 to 2018 and from 2018 to 2019.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Marriott International Inc. adjusted ROA deteriorated from 2017 to 2018 and from 2018 to 2019.

Marriott International Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Revenues 20,972 20,758 22,894 17,072 14,486
Total assets 25,051 23,696 23,948 24,140 6,082
Activity Ratio
Total asset turnover1 0.84 0.88 0.96 0.71 2.38
Adjusted
Selected Financial Data (US$ in millions)
Adjusted revenues2 21,101 20,904 22,894 17,072 14,486
Adjusted total assets3 24,973 25,212 25,703 25,452 6,241
Activity Ratio
Adjusted total asset turnover4 0.84 0.83 0.89 0.67 2.32

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

1 2019 Calculation
Total asset turnover = Revenues ÷ Total assets
= 20,972 ÷ 25,051 = 0.84

2 Adjusted revenues. See details »

3 Adjusted total assets. See details »

4 2019 Calculation
Adjusted total asset turnover = Adjusted revenues ÷ Adjusted total assets
= 21,101 ÷ 24,973 = 0.84

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Marriott International Inc. adjusted total asset turnover ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Current assets 3,127 2,706 2,747 3,371 1,384
Current liabilities 6,677 6,437 6,010 5,147 3,233
Liquidity Ratio
Current ratio1 0.47 0.42 0.46 0.65 0.43
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 3,203 2,772 2,776 3,391 1,409
Adjusted current liabilities3 6,557 6,337 6,010 5,147 3,233
Liquidity Ratio
Adjusted current ratio4 0.49 0.44 0.46 0.66 0.44

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

1 2019 Calculation
Current ratio = Current assets ÷ Current liabilities
= 3,127 ÷ 6,677 = 0.47

2 Adjusted current assets. See details »

3 Adjusted current liabilities. See details »

4 2019 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= 3,203 ÷ 6,557 = 0.49

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Marriott International Inc. adjusted current ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Total debt 10,940 9,347 8,238 8,506 4,107
Shareholders’ equity (deficit) 703 2,225 3,731 5,357 (3,590)
Solvency Ratio
Debt to equity1 15.56 4.20 2.21 1.59 —
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 11,952 10,968 10,057 9,914 4,913
Adjusted shareholders’ equity (deficit)3 1,875 3,436 4,271 6,281 (4,221)
Solvency Ratio
Adjusted debt to equity4 6.37 3.19 2.35 1.58 —

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

1 2019 Calculation
Debt to equity = Total debt ÷ Shareholders’ equity (deficit)
= 10,940 ÷ 703 = 15.56

2 Adjusted total debt. See details »

3 Adjusted shareholders’ equity (deficit). See details »

4 2019 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted shareholders’ equity (deficit)
= 11,952 ÷ 1,875 = 6.37

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Marriott International Inc. adjusted debt-to-equity ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Total debt 10,940 9,347 8,238 8,506 4,107
Total capital 11,643 11,572 11,969 13,863 517
Solvency Ratio
Debt to capital1 0.94 0.81 0.69 0.61 7.94
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 11,952 10,968 10,057 9,914 4,913
Adjusted total capital3 13,827 14,404 14,328 16,195 692
Solvency Ratio
Adjusted debt to capital4 0.86 0.76 0.70 0.61 7.10

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

1 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= 10,940 ÷ 11,643 = 0.94

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2019 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 11,952 ÷ 13,827 = 0.86

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Marriott International Inc. adjusted debt-to-capital ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Total assets 25,051 23,696 23,948 24,140 6,082
Shareholders’ equity (deficit) 703 2,225 3,731 5,357 (3,590)
Solvency Ratio
Financial leverage1 35.63 10.65 6.42 4.51 —
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 24,973 25,212 25,703 25,452 6,241
Adjusted shareholders’ equity (deficit)3 1,875 3,436 4,271 6,281 (4,221)
Solvency Ratio
Adjusted financial leverage4 13.32 7.34 6.02 4.05 —

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

1 2019 Calculation
Financial leverage = Total assets ÷ Shareholders’ equity (deficit)
= 25,051 ÷ 703 = 35.63

2 Adjusted total assets. See details »

3 Adjusted shareholders’ equity (deficit). See details »

4 2019 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted shareholders’ equity (deficit)
= 24,973 ÷ 1,875 = 13.32

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Marriott International Inc. adjusted financial leverage ratio increased from 2017 to 2018 and from 2018 to 2019.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Net income 1,273 1,907 1,372 780 859
Revenues 20,972 20,758 22,894 17,072 14,486
Profitability Ratio
Net profit margin1 6.07% 9.19% 5.99% 4.57% 5.93%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 1,278 1,594 1,742 578 864
Adjusted revenues3 21,101 20,904 22,894 17,072 14,486
Profitability Ratio
Adjusted net profit margin4 6.06% 7.63% 7.61% 3.39% 5.96%

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

1 2019 Calculation
Net profit margin = 100 × Net income ÷ Revenues
= 100 × 1,273 ÷ 20,972 = 6.07%

2 Adjusted net income. See details »

3 Adjusted revenues. See details »

4 2019 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Adjusted revenues
= 100 × 1,278 ÷ 21,101 = 6.06%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Marriott International Inc. adjusted net profit margin ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Net income 1,273 1,907 1,372 780 859
Shareholders’ equity (deficit) 703 2,225 3,731 5,357 (3,590)
Profitability Ratio
ROE1 181.08% 85.71% 36.77% 14.56% —
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 1,278 1,594 1,742 578 864
Adjusted shareholders’ equity (deficit)3 1,875 3,436 4,271 6,281 (4,221)
Profitability Ratio
Adjusted ROE4 68.16% 46.39% 40.79% 9.20% —

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

1 2019 Calculation
ROE = 100 × Net income ÷ Shareholders’ equity (deficit)
= 100 × 1,273 ÷ 703 = 181.08%

2 Adjusted net income. See details »

3 Adjusted shareholders’ equity (deficit). See details »

4 2019 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted shareholders’ equity (deficit)
= 100 × 1,278 ÷ 1,875 = 68.16%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Marriott International Inc. adjusted ROE improved from 2017 to 2018 and from 2018 to 2019.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Reported
Selected Financial Data (US$ in millions)
Net income 1,273 1,907 1,372 780 859
Total assets 25,051 23,696 23,948 24,140 6,082
Profitability Ratio
ROA1 5.08% 8.05% 5.73% 3.23% 14.12%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 1,278 1,594 1,742 578 864
Adjusted total assets3 24,973 25,212 25,703 25,452 6,241
Profitability Ratio
Adjusted ROA4 5.12% 6.32% 6.78% 2.27% 13.84%

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

1 2019 Calculation
ROA = 100 × Net income ÷ Total assets
= 100 × 1,273 ÷ 25,051 = 5.08%

2 Adjusted net income. See details »

3 Adjusted total assets. See details »

4 2019 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × 1,278 ÷ 24,973 = 5.12%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Marriott International Inc. adjusted ROA deteriorated from 2017 to 2018 and from 2018 to 2019.