Marriott International, Inc. Financial Ratios — MAR Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	6.08	16.97	17.02	18.52	18.73	14.19	21.22	23.49	13.66	-2.83	11.26	20.81	22.68	15.14	14.88
Return on Assets (%)	2.66	9.32	9.53	11.05	13.3	5.35	6.08	8.02	5.22	-1.07	4.37	9.36	12.21	9.16	9.68
Return on Capital (%)	5.03	11.2	10.56	11.06	11.42	8	10.49	12.91	7.97	- -	7.1	11.84	14.1	9.76	9.57
Return on Invested Capital (%)	10.08	41.59	40.7	48.48	88.51	16.42	10.15	17.53	12.81	- -	13.59	21.98	30.67	24.21	25.22
Gross Margin (%)	10.38	13.75	13.8	14.25	14.66	17.34	18.64	17.7	15.34	13.8	20.21	21.94	21	19.81	19.94
EBITDA Margin (%)	5.44	8.82	8.72	9.47	10.28	12.78	14.38	13.51	11.16	7.84	14.82	18.65	18.39	17.27	18.09
Operating Margin (%)	4.27	7.96	7.73	8.4	9.32	11.75	13.02	12.14	9.24	3.32	12.69	16.72	16.55	15.31	15.81
Incremental Operating Margin (%)	-27	-82.31	4.95	16.9	27.68	49.95	16.91	-46.41	-272.43	15.26	42.82	24.81	15.31	-5.77	27.16
Pretax Margin (%)	2.89	7.19	7.02	7.89	8.66	8.04	14.58	11.3	7.62	-4.41	8.52	14.99	14.25	12.55	12.96
Profit Margin (%)	1.61	4.83	4.9	5.46	5.93	5.24	7.13	9.19	6.07	-2.53	7.93	11.35	13	9.46	9.93
Net Income to Common Margin (%)	1.61	4.83	4.9	5.46	5.93	5.24	7.13	9.19	6.07	-2.53	7.93	11.35	13	9.46	9.93
Effective Tax Rate (%)	44.38	32.74	30.21	30.79	31.55	34.79	51.07	18.68	20.39	- -	6.86	24.28	8.73	24.63	23.36
Dvd Payout Ratio (%)	67.68	33.45	31.31	29.61	29.45	46.29	33.04	28.47	48.08	-58.43	- -	13.61	19.04	28.72	27.6
Sustainable Growth Rate (%)	1.97	11.29	11.69	13.03	13.21	7.62	14.21	16.8	7.09	-4.49	11.26	17.98	18.36	10.79	10.77

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	2,171	2,935	3,153	3,771	4,107	8,506	8,238	9,347	11,822	11,199	11,236	11,098	12,760	15,241	17,083
ST Debt	355	407	6	324	300	309	398	833	977	1,173	805	684	553	1,309	1,209
LT Debt	1,816	2,528	3,147	3,447	3,807	8,197	7,840	8,514	10,845	10,026	10,431	10,414	12,207	13,932	15,874
Total Debt/EBITDA	3.24	2.82	2.83	2.89	2.76	4.32	2.8	3.33	5.05	13.51	5.47	2.86	2.93	3.51	3.61
Net Debt/EBITDA	3.09	2.73	2.71	2.81	2.69	3.88	2.67	3.22	4.58	11.46	4.26	2.47	2.65	3.24	3.34
Total Debt/EBIT	4.13	3.12	3.19	3.25	3.04	4.7	3.09	3.71	6.1	31.91	6.39	3.19	3.25	3.96	4.13
Net Debt/EBIT	3.93	3.03	3.06	3.16	2.97	4.23	2.95	3.58	5.53	27.06	4.97	2.75	2.94	3.66	3.83
EBITDA to Interest Expense	4.09	7.61	9.29	11.37	8.92	8.41	10.22	8.25	5.94	1.86	4.89	9.61	7.72	6.24	5.86
EBITDA-CapEx/Interest Expense	3.63	5.76	8.78	10.8	8.19	8.07	9.56	8.25	5.94	1.86	4.89	9.61	7.72	6.24	5.86
EBIT to Interest Expense	3.21	6.86	8.23	10.08	8.08	7.74	9.25	7.41	4.92	0.79	4.19	8.62	6.95	5.53	5.12
Interest Expense	164	137	120	115	167	234	288	340	394	445	420	403	565	695	809
Common Equity/Total Assets	54.43	55.41	56.55	62.8	80.29	26.95	30.39	37.93	38.52	37.29	40.35	49.76	57.81	63.16	66.88
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	153.01	218.87	382.65	1,542.67	2,331.63	737.69	1,833.45	- -	- -	- -
Long-Term Debt/Capital (%)	33.7	39.2	44.99	42.76	42.35	54.6	50.63	46.44	50.51	49.12	48.41	44.42	44.22	43.84	44.71
Long-Term Debt/Total Assets (%)	30.73	39.86	46.32	50.45	62.59	33.96	32.88	35.93	43.29	40.59	40.82	41.97	47.55	53.21	57.64
Total Debt/Equity (%)	-277.98	-228.4	-222.83	-171.41	-114.4	158.78	229.98	420.09	1,681.65	2,604.42	794.63	1,953.87	-1,870.97	-509.39	-453.01
Total Debt/Capital (%)	40.29	45.51	45.08	46.77	45.68	56.66	53.2	50.98	55.06	54.87	52.15	47.34	46.23	47.96	48.12
Total Debt/Total Assets (%)	36.73	46.28	46.41	55.19	67.53	35.24	34.55	39.45	47.19	45.34	43.97	44.72	49.7	58.21	62.03
Net Debt to Equity	-264.92	-221.56	-213.92	-166.68	-111.73	142.77	219.29	405.89	1,524.18	2,209.07	618.46	1,682.57	-1,691.35	-469.62	-420.21
Net Debt/Capital (%)	39.14	44.76	44.07	46.08	45.1	54.03	52.01	50.12	50.43	48.63	43.39	41.66	42.31	44.78	45.09
EBITDA	670	1,042	1,115	1,307	1,489	1,969	2,942	2,805	2,341	829	2,053	3,874	4,360	4,336	4,738
EBITDA-CapEx	596	789	1,054	1,242	1,368	1,889	2,753	2,805	2,341	829	2,053	3,874	4,360	4,336	4,738
Operating Income (Loss)	526	940	988	1,159	1,350	1,810	2,663	2,521	1,938	351	1,758	3,474	3,924	3,844	4,139

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.04	0.03	0.05	0.03	0.03	0.17	0.07	0.05	0.03	0.15	0.22	0.07	0.04	0.05	0.04
Current Ratio	0.52	0.53	0.71	0.53	0.43	0.65	0.47	0.42	0.47	0.49	0.57	0.45	0.43	0.4	0.43
Quick Ratio	0.38	0.4	0.45	0.4	0.37	0.5	0.41	0.38	0.39	0.46	0.53	0.42	0.39	0.37	0.39
CFO/Avg Current Liab	0.43	0.37	0.42	0.43	0.48	0.39	0.41	0.39	0.26	0.26	0.19	0.34	0.42	0.34	0.38
Common Equity/Total Assets	54.43	55.41	56.55	62.8	80.29	26.95	30.39	37.93	38.52	37.29	40.35	49.76	57.81	63.16	66.88
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	153.01	218.87	382.65	1,542.67	2,331.63	737.69	1,833.45	- -	- -	- -
Long-Term Debt/Capital (%)	33.7	39.2	44.99	42.76	42.35	54.6	50.63	46.44	50.51	49.12	48.41	44.42	44.22	43.84	44.71
Long-Term Debt/Total Assets (%)	30.73	39.86	46.32	50.45	62.59	33.96	32.88	35.93	43.29	40.59	40.82	41.97	47.55	53.21	57.64
Total Debt/Equity (%)	-277.98	-228.4	-222.83	-171.41	-114.4	158.78	229.98	420.09	1,681.65	2,604.42	794.63	1,953.87	-1,870.97	-509.39	-453.01
Total Debt/Capital (%)	40.29	45.51	45.08	46.77	45.68	56.66	53.2	50.98	55.06	54.87	52.15	47.34	46.23	47.96	48.12
Total Debt/Total Assets (%)	36.73	46.28	46.41	55.19	67.53	35.24	34.55	39.45	47.19	45.34	43.97	44.72	49.7	58.21	62.03
CFO/Total Liabilities	16.28	12.97	13.89	13.55	15.66	8.62	10.99	10.98	6.92	6.75	4.88	9.75	12.03	9.42	10.26
CFO/CapEx	14.72	3.91	18.69	18.83	12.52	20.24	11.78	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	4.99	5.14	5.38	6.28	7.5	4.67	7.36	6.98	6.21	4.29	5.41	7.4	8.4	8.5	8.84

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	28.15	12.42	12.12	12.65	13.15	11.01	11.15	10.11	9.26	5.08	7.39	9.12	8.98	9.12	9.18
Days Sales Outstanding	12.96	29.4	30.11	28.85	27.75	33.14	32.73	36.1	39.4	71.87	49.39	40	40.66	40.04	39.75
Inventory Turnover	14.72	617.58	1,001.82	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	24.8	0.59	0.36	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	16.18	18.26	19.53	20.36	20.64	19.9	22.64	22.04	23.88	14.61	17.65	22.03	25.25	26.82	26.59
Accounts Payable Turnover Days	22.56	19.98	18.68	17.93	17.68	18.34	16.12	16.56	15.28	24.98	20.68	16.57	14.46	13.61	13.73
Cash Conversion Cycle	15.2	10	11.79	10.93	10.07	14.8	16.61	19.54	24.12	46.9	28.71	23.43	26.2	26.43	26.02
Inventory to Cash Days	-11.83	28.81	29.74	28.85	27.75	33.14	32.73	36.1	39.4	71.87	49.39	40	40.66	40.04	39.75
Inventories	11	22	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	11	22	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	10,212	12,023	15,052	22,621	17,920	24,052	50,926	38,007	50,381	42,980	54,067	48,300	67,991	79,275	84,664
- Cash & Cash Equivalents	102	88	126	104	96	858	383	316	225	877	1,393	507	338	396	358
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	2,171	2,935	3,153	3,771	4,107	8,506	8,238	9,347	11,822	11,199	11,236	11,098	12,760	15,241	17,083
Enterprise Value	12,281	14,870	18,079	26,288	21,931	31,700	58,781	47,038	61,978	53,302	63,910	58,891	80,413	94,120	101,389
Total Capital	5,388	6,449	6,995	8,062	8,990	15,012	15,485	18,334	21,471	20,410	21,546	23,445	27,603	31,777	35,502
Total Debt/Capital (%)	40.29	45.51	45.08	46.77	45.68	56.66	53.2	50.98	55.06	54.87	52.15	47.34	46.23	47.96	48.12
Total Debt / EV	0.18	0.2	0.17	0.14	0.19	0.27	0.14	0.2	0.19	0.21	0.18	0.19	0.16	0.16	0.17
EV/Sales	1	1.26	1.41	1.91	1.51	2.06	2.87	2.27	2.96	5.04	4.61	2.83	3.39	3.75	3.87
EV/EBITDA	18.33	14.27	16.21	20.11	14.73	16.1	19.98	16.77	26.47	64.3	31.13	15.2	18.44	21.71	21.4
EV/EBIT	23.35	15.82	18.3	22.68	16.25	17.51	22.07	18.66	31.98	151.86	36.35	16.95	20.49	24.48	24.5
EV/Cash Flow to Firm	10.41	13.75	14.77	20.17	13.46	17.89	24.82	17.86	31.01	28.14	40.75	22.07	21.82	28.76	26.46
EV/Free Cash Flow to Firm	9.79	11.15	14.07	19.21	12.53	17.12	22.99	17.86	31.01	28.14	40.75	22.07	21.82	28.76	26.46
Diluted Market Cap	10,568	12,407	15,052	23,159	18,289	24,448	51,564	38,452	50,805	42,980	54,414	48,508	68,307	79,554	84,882
Diluted Enterprise Value	12,637	15,254	18,079	26,826	22,300	32,096	59,419	47,483	62,402	53,302	64,257	59,099	80,729	94,399	101,607
EV per Share	35.08	46.1	59.27	90.68	82.05	108.97	156.67	134.36	186.29	163.6	195.32	181.54	266.71	331.17	371.53
TTM Sales	12,317	11,814	12,784	13,796	14,486	15,407	20,452	20,758	20,972	10,571	13,857	20,773	23,713	25,100	26,186
TTM EBITDA	670	1,042	1,115	1,307	1,489	1,969	2,942	2,805	2,341	829	2,053	3,874	4,360	4,336	4,738
TTM Operating Income	526	940	988	1,159	1,350	1,810	2,663	2,521	1,938	351	1,758	3,474	3,924	3,844	4,139
TTM Cash Flow to Firm	1,180	1,081	1,224	1,304	1,629	1,772	2,368	2,633	1,999	1,894	1,568	2,668	3,686	3,273	3,832
TTM Free Cash Flow to Firm	1,254	1,334	1,285	1,369	1,750	1,852	2,557	2,633	1,999	1,894	1,568	2,668	3,686	3,273	3,832

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	9.09	9.99	12.53	17.97	11.18	14.39	21.34	16.31	30.15	26.22	46.23	20.53	21.55	28.94	26.43
EV/EBIT	23.35	15.82	18.3	22.68	16.25	17.51	22.07	18.66	31.98	151.86	36.35	16.95	20.49	24.48	24.5
Enterprise Value	12,281	14,870	18,079	26,288	21,931	31,700	58,781	47,038	61,978	53,302	63,910	58,891	80,413	94,120	101,389
Low Price	24.03	29.73	38.14	47.21	63.95	56.43	81.04	100.62	101.57	46.56	115.5	131.01	147.1	204.55	205.4
EV/Sales	1	1.26	1.41	1.91	1.51	2.06	2.87	2.27	2.96	5.04	4.61	2.83	3.39	3.75	3.87
EV/EBITDA	18.33	14.27	16.21	20.11	14.73	16.1	19.98	16.77	26.47	64.3	31.13	15.2	18.44	21.71	21.4
Price/Earnings	51.58	21.06	24.04	30.04	20.86	29.77	34.9	19.93	39.58	- -	49.2	20.48	22.05	33.38	32.55
Price/Earnings Average	56.53	20.96	20.55	24.37	23.58	25.05	26.55	23.79	33.81	-127.97	43.02	21.94	18.14	29.62	28.26
Price/Earnings High	71.29	23.64	24.28	30.51	26.45	31.02	35.39	27.39	40.09	-186.21	51.11	26.95	22.16	35.35	33.23
Price/Earnings Low	42.49	16.8	18.58	18.18	19.9	20.32	20.84	18.47	26.55	-56.81	34.39	18.02	14.39	24.48	21.55
Price/Book Value	3.17	3.42	3.92	5.27	3.67	3.7	7.03	4.23	5.22	4.67	5.24	3.91	4.58	4.79	4.6
Price/Book Value Average	3.48	3.41	3.35	4.28	4.15	3.11	5.35	5.05	4.46	3.71	4.59	4.19	3.77	4.25	3.99
Price/Book Value High	4.39	3.84	3.96	5.35	4.65	3.85	7.12	5.81	5.29	5.4	5.45	5.15	4.6	5.08	4.69
Price/Book Value Low	2.62	2.73	3.03	3.19	3.5	2.52	4.2	3.92	3.5	1.65	3.67	3.44	2.99	3.52	3.04
Price/Tangible Book Value	-4.08	-3.67	-4.4	-5.09	-2.99	-2.09	-3.59	-2.5	-2.97	-2.42	-3.26	-2.83	-3.62	-3.74	-3.68
Price/Tangible Book Value Average	-4.47	-3.66	-3.76	-4.13	-3.38	-1.76	-2.73	-2.99	-2.53	-1.93	-2.85	-3.03	-2.98	-3.32	-3.19
Price/Tangible Book Value High	-5.64	-4.12	-4.44	-5.17	-3.8	-2.18	-3.64	-3.44	-3	-2.8	-3.39	-3.73	-3.64	-3.96	-3.76
Price/Tangible Book Value Low	-3.36	-2.93	-3.4	-3.08	-2.86	-1.43	-2.15	-2.32	-1.99	-0.86	-2.28	-2.49	-2.36	-2.74	-2.44
Price/Sales	0.83	1.02	1.18	1.64	1.24	1.56	2.49	1.83	2.4	4.07	3.9	2.33	2.87	3.16	3.23
Price/Sales Average	0.91	1.01	1.01	1.33	1.4	1.31	1.89	2.19	2.05	3.23	3.41	2.49	2.36	2.8	2.81
Price/Sales High	1.15	1.14	1.19	1.67	1.57	1.63	2.52	2.52	2.43	4.7	4.05	3.06	2.88	3.35	3.3
Price/Sales Low	0.68	0.81	0.91	0.99	1.18	1.07	1.49	1.7	1.61	1.43	2.73	2.05	1.87	2.32	2.14
Price/Cash Flow	9.38	12.16	13.2	18.48	11.83	14.86	22.87	16.13	29.9	26.22	45.94	20.44	21.45	28.84	26.36
Price/Cash Flow Average	10.28	12.1	11.29	14.99	13.37	12.5	17.4	19.24	25.54	20.85	40.17	21.89	17.64	25.59	22.88
Price/Cash Flow High	12.96	13.65	13.33	18.77	15	15.48	23.18	22.16	30.29	30.33	47.73	26.89	21.55	30.54	26.91
Price/Cash Flow Low	7.73	9.7	10.2	11.18	11.28	10.14	13.65	14.95	20.05	9.26	32.11	17.99	13.99	21.15	17.45
Price/Free Cash Flow Average	9.96	9.94	10.71	14.57	12.63	12.11	16.24	19.47	25.76	20.85	40.43	21.99	17.72	25.68	22.94
Price/Free Cash Flow High	12.56	11.21	12.66	18.25	14.17	14.99	21.64	22.42	30.54	30.33	48.03	27.01	21.65	30.65	26.98
Price/Free Cash Flow Low	7.49	7.97	9.69	10.87	10.66	9.82	12.74	15.12	20.22	9.26	32.31	18.06	14.06	21.22	17.5
EV/Sales Average	1.08	1.25	1.24	1.6	1.68	1.81	2.28	2.62	2.61	4.21	4.12	3	2.88	3.39	3.45
EV/Sales High	1.31	1.38	1.43	1.93	1.85	2.12	2.91	2.95	2.99	5.68	4.76	3.57	3.41	3.94	3.94
EV/Sales Low	0.85	1.05	1.15	1.26	1.46	1.56	1.87	2.13	2.16	2.41	3.44	2.56	2.39	2.91	2.78
EV/EBITDA Average	19.79	14.22	14.25	16.85	16.3	14.16	15.84	19.39	23.34	53.67	27.82	16.09	15.68	19.65	19.04
EV/EBITDA High	24.16	15.69	16.35	20.38	17.95	16.61	20.22	21.84	26.75	72.42	32.16	19.14	18.52	22.79	21.77
EV/EBITDA Low	15.64	11.94	13.15	13.28	14.17	12.22	13.01	15.78	19.39	30.75	23.2	13.7	13.02	16.83	15.36
EV/EBIT Average	25.21	15.76	16.09	19	17.97	15.41	17.5	21.57	28.19	126.75	32.49	17.94	17.42	22.16	21.8
EV/EBIT High	30.77	17.39	18.45	22.99	19.8	18.07	22.34	24.3	32.32	171.05	37.55	21.34	20.58	25.71	24.92
EV/EBIT Low	19.93	13.23	14.84	14.97	15.63	13.29	14.37	17.56	23.42	72.62	27.1	15.28	14.47	18.98	17.58
Last Price	29.17	37.27	49.35	78.03	67.04	82.68	135.73	108.56	151.43	131.92	165.24	148.89	225.51	278.94	310.24
High Price	40.32	41.84	49.84	79.25	85	86.15	137.6	149.21	153.39	152.6	171.68	195.9	226.63	295.45	316.69
Enterprise Value Average	13,261	14,814	15,894	22,017	24,265	27,891	46,597	54,390	54,639	44,491	57,122	62,323	68,344	85,185	90,218
Enterprise Value High	16,185	16,345	18,228	26,642	26,732	32,709	59,483	61,269	62,630	60,039	66,017	74,141	80,751	98,812	103,150
Enterprise Value Low	10,482	12,438	14,660	17,353	21,105	24,063	38,261	44,258	45,389	25,491	47,635	53,091	56,773	72,978	72,779

Shares Outstanding	331	311	298	276	256	381	355	334	324	324	327	311	291	277	266
Diluted Weighted Avg Shares	362	333	305	297	273	296	380	354	336	326	329	326	303	285	274
Basic Weighted Avg Shares	350	323	305	290	267	291	375	350	333	326	327	324	302	284	273
Revenue per Share	35.18	36.62	41.91	47.59	54.19	52.96	54.51	59.29	63.04	32.45	42.35	64.04	78.65	88.32	95.95
EBITDA per Share	1.91	3.23	3.66	4.51	5.57	6.77	7.84	8.01	7.04	2.54	6.27	11.94	14.46	15.26	17.36
Operating Income per Share	1.5	2.91	3.24	4	5.05	6.22	7.1	7.2	5.83	1.08	5.37	10.71	13.01	13.53	15.17
Basic EPS, GAAP	0.57	1.77	2.05	2.6	3.21	2.78	3.89	5.45	3.83	-0.82	3.36	7.27	10.23	8.36	9.53
Basic EPS from Cont Ops	0.57	1.77	2.05	2.6	3.21	2.78	3.89	5.45	3.83	-0.82	3.36	7.27	10.23	8.36	9.53
Diluted EPS, GAAP	0.55	1.72	2.05	2.54	3.15	2.73	3.84	5.38	3.79	-0.82	3.34	7.24	10.18	8.33	9.51
Diluted EPS from Cont Ops	0.55	1.72	2.05	2.54	3.15	2.73	3.84	5.38	3.79	-0.82	3.34	7.24	10.18	8.33	9.51
Dividend per Share	0.38	0.59	0.64	0.77	0.95	1.29	1.28	1.55	1.84	0.48	- -	0.99	1.95	2.4	2.63
Cash Flow per Share	3.11	3.07	3.74	4.22	5.67	5.57	5.94	6.73	5.06	5.03	3.6	7.28	10.51	9.67	11.77
Free Cash Flow per Basic Share	2.9	2.28	3.54	4	5.22	5.29	5.43	6.73	5.06	5.03	3.6	7.28	10.51	9.67	11.77
Cash & Equivalents per Share	0.29	0.27	0.41	0.36	0.36	2.95	1.02	0.9	0.68	2.69	4.26	1.56	1.12	1.39	1.31
Book Value per Share	9.19	10.89	12.6	14.8	18.27	22.37	19.32	25.67	29	28.27	31.51	38.06	49.23	58.18	67.49
Tangible Book Value per Share	-7.15	-10.15	-11.21	-15.33	-22.39	-39.57	-37.76	-43.4	-51.06	-54.43	-50.69	-52.56	-62.22	-74.63	-84.33

Marriott International, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)