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.

Price to FCFE (P/FCFE)

Microsoft Excel

Free Cash Flow to Equity (FCFE)

Marriott International Inc., FCFE calculation

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net income 1,273 1,907 1,372 780 859
Net noncash charges 685 526 983 979 697
Working capital changes (273) (76) 81 (177) (126)
Net cash provided by operating activities 1,685 2,357 2,436 1,582 1,430
Capital expenditures (653) (556) (240) (199) (305)
Contract acquisition costs (189) (80) (121)
Commercial paper/Credit Facility, net 951 (129) 25 1,365 (140)
Issuance of long-term debt 1,397 1,646 1,482 790
Repayment of long-term debt (835) (397) (310) (326) (325)
Free cash flow to equity (FCFE) 2,545 2,921 1,722 3,824 1,329

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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Marriott International Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Marriott International Inc. FCFE increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.

Price to FCFE Ratio, Current

Marriott International Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 324,255,928
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 2,545
FCFE per share 7.85
Current share price (P) 82.31
Valuation Ratio
P/FCFE 10.49
Benchmarks
P/FCFE, Competitors1
Airbnb Inc. 23.56
Booking Holdings Inc. 19.72
Chipotle Mexican Grill Inc. 0.06
McDonald’s Corp. 20.58
Starbucks Corp. 26.99
P/FCFE, Sector
Consumer Services 30.75
P/FCFE, Industry
Consumer Discretionary 63.67

Based on: 10-K (reporting date: 2019-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

Marriott International Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
No. shares of common stock outstanding1 324,214,545 339,668,839 357,437,289 383,561,428 253,481,935
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 2,545 2,921 1,722 3,824 1,329
FCFE per share3 7.85 8.60 4.82 9.97 5.24
Share price1, 4 119.64 124.45 141.29 87.99 64.94
Valuation Ratio
P/FCFE5 15.24 14.47 29.33 8.83 12.39
Benchmarks
P/FCFE, Competitors6
Airbnb Inc.
Booking Holdings Inc. 15.41
Chipotle Mexican Grill Inc. 59.04
McDonald’s Corp. 17.47
Starbucks Corp. 20.35 5.44
P/FCFE, Sector
Consumer Services 18.62
P/FCFE, Industry
Consumer Discretionary 28.99

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 Data adjusted for splits and stock dividends.

2 See details »

3 2019 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 2,545,000,000 ÷ 324,214,545 = 7.85

4 Closing price as at the filing date of Marriott International Inc. Annual Report.

5 2019 Calculation
P/FCFE = Share price ÷ FCFE per share
= 119.64 ÷ 7.85 = 15.24

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Marriott International Inc. P/FCFE ratio decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.