Marriott International, Inc. (MAR) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 6.65B | 6.69B | 6.49B | 6.74B | 6.26B | 6.43B | 6.25B | 6.44B | 5.98B | 6.09B | 5.93B | 6.08B | 5.62B | 5.92B | 5.31B | 5.34B | 4.2B | 4.45B | 3.95B | 3.15B |
| Revenue Growth % | 6.24% | 4.06% | 3.74% | 4.74% | 4.78% | 5.48% | 5.52% | 5.99% | 6.45% | 2.9% | 11.58% | 13.81% | 33.72% | 33.22% | 34.64% | 69.51% | 81.3% | 104.7% | 75.07% | 115.1% |
| Cost of Goods Sold | 5.31B | 5.58B | 5.07B | 4.93B | 5.02B | 5.29B | 4.98B | 4.94B | 4.79B | 4.99B | 4.53B | 4.65B | 4.42B | 4.64B | 4.09B | 4.11B | 3.38B | 3.54B | 3.12B | 2.42B |
| COGS % of Revenue | 79.85% | 83.47% | 78.06% | 73.13% | 80.12% | 82.28% | 79.63% | 76.74% | 80.09% | 81.84% | 76.43% | 76.59% | 78.66% | 78.41% | 76.92% | 76.96% | 80.4% | 79.71% | 79.09% | 76.95% |
| Gross Profit | 1.34B | 1.11B | 1.42B | 1.81B | 1.25B | 1.14B | 1.27B | 1.5B | 1.19B | 1.11B | 1.4B | 1.42B | 1.2B | 1.28B | 1.23B | 1.23B | 823M | 902M | 825M | 726M |
| Gross Margin % | 20.15% | 16.53% | 21.94% | 26.87% | 19.88% | 17.72% | 20.37% | 23.26% | 19.91% | 18.16% | 23.57% | 23.41% | 21.34% | 21.59% | 23.08% | 23.04% | 19.6% | 20.29% | 20.91% | 23.05% |
| Gross Profit Growth % | 7.71% | -2.9% | 11.77% | 20.96% | 4.62% | 2.89% | -8.8% | 5.34% | -0.67% | -13.45% | 13.95% | 15.61% | 45.56% | 41.8% | 48.61% | 69.42% | 136.49% | 132.47% | 88.79% | 611.76% |
| Operating Expenses | 277M | 329M | 244M | 581M | 297M | 387M | 330M | 303M | 314M | 389M | 298M | 326M | 247M | 283M | 268M | 280M | 265M | 267M | 280M | 240M |
| OpEx % of Revenue | 4.16% | 4.92% | 3.76% | 8.62% | 4.74% | 6.02% | 5.28% | 4.71% | 5.25% | 6.38% | 5.03% | 5.37% | 4.4% | 4.78% | 5.04% | 5.25% | 6.31% | 6.01% | 7.1% | 7.62% |
| Selling, General & Admin | 219M | 241M | 234M | 245M | 245M | 289M | 276M | 248M | 261M | 330M | 239M | 240M | 202M | 236M | 216M | 231M | 208M | 213M | 212M | 187M |
| SG&A % of Revenue | 3.29% | 3.6% | 3.61% | 3.63% | 3.91% | 4.5% | 4.41% | 3.85% | 4.37% | 5.41% | 4.03% | 3.95% | 3.6% | 3.98% | 4.07% | 4.33% | 4.95% | 4.79% | 5.37% | 5.94% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | 1.06B | 777M | 1.18B | 1.24B | 948M | 752M | 944M | 1.2B | 876M | 718M | 1.1B | 1.1B | 951M | 996M | 958M | 950M | 558M | 635M | 545M | 486M |
| Operating Margin % | 15.99% | 11.61% | 18.18% | 18.33% | 15.14% | 11.7% | 15.09% | 18.56% | 14.66% | 11.78% | 18.54% | 18.04% | 16.94% | 16.82% | 18.03% | 17.8% | 13.29% | 14.28% | 13.81% | 15.43% |
| Operating Income Growth % | 12.24% | 3.32% | 25% | 3.43% | 8.22% | 4.74% | -14.1% | 9.03% | -7.89% | -27.91% | 14.72% | 15.37% | 70.43% | 56.85% | 75.78% | 95.47% | 564.29% | 596.09% | 116.27% | 415.58% |
| EBITDA | 1.07B | 954M | 1.23B | 1.29B | 1.08B | 1.03B | 1.01B | 1.24B | 992M | 791M | 1.17B | 1.17B | 1.02B | 1.07B | 1.03B | 1.02B | 630M | 708M | 630M | 554M |
| EBITDA Margin % | 16.11% | 14.26% | 18.96% | 19.11% | 17.31% | 16.04% | 16.23% | 19.29% | 16.6% | 12.98% | 19.7% | 19.19% | 18.09% | 18% | 19.39% | 19.07% | 15% | 15.92% | 15.97% | 17.59% |
| EBITDA Growth % | -1.11% | -7.47% | 21.18% | 3.78% | 9.27% | 30.34% | -13.1% | 6.52% | -2.36% | -25.8% | 13.4% | 14.54% | 61.27% | 50.57% | 63.49% | 83.75% | 311.76% | 3826.32% | 78.47% | 1008.2% |
| D&A (Non-Cash Add-back) | 0 | 177M | 50M | 53M | 136M | 279M | 71M | 47M | 116M | 73M | 69M | 70M | 65M | 70M | 72M | 68M | 72M | 73M | 85M | 68M |
| EBIT | 1.07B | 790M | 1.2B | 1.26B | 956M | 778M | 965M | 1.21B | 890M | 734M | 1.14B | 1.1B | 970M | 1.01B | 969M | 973M | 569M | 645M | 385M | 490M |
| Net Interest Income | -204M | -199M | -194M | -191M | -183M | -170M | -168M | -164M | -153M | -144M | -139M | -141M | -111M | -107M | -93M | -89M | -88M | -91M | -99M | -102M |
| Interest Income | 10M | 9M | 12M | 12M | 9M | 10M | 11M | 9M | 10M | 9M | 7M | 0 | 15M | 8M | 7M | 6M | 5M | 6M | 8M | 7M |
| Interest Expense | 214M | 208M | 206M | 203M | 192M | 180M | 179M | 173M | 163M | 153M | 146M | 141M | 126M | 115M | 100M | 95M | 93M | 97M | 107M | 109M |
| Other Income/Expense | -206M | -195M | -186M | -182M | -184M | -154M | -158M | -155M | -149M | -137M | -110M | -132M | -107M | -105M | -89M | -72M | -82M | -87M | -267M | -105M |
| Pretax Income | 858M | 582M | 994M | 1.05B | 764M | 598M | 786M | 1.04B | 727M | 581M | 989M | 964M | 844M | 891M | 869M | 878M | 476M | 548M | 278M | 381M |
| Pretax Margin % | 12.89% | 8.7% | 15.32% | 15.63% | 12.2% | 9.3% | 12.57% | 16.15% | 12.16% | 9.53% | 16.68% | 15.87% | 15.03% | 15.04% | 16.36% | 16.45% | 11.34% | 12.33% | 7.05% | 12.1% |
| Income Tax | 210M | 137M | 266M | 291M | 99M | 143M | 202M | 268M | 163M | -267M | 237M | 238M | 87M | 218M | 239M | 200M | 99M | 80M | 58M | -41M |
| Effective Tax Rate % | 24.48% | 23.54% | 26.76% | 27.61% | 12.96% | 23.91% | 25.7% | 25.77% | 22.42% | -45.96% | 23.96% | 24.69% | 10.31% | 24.47% | 27.5% | 22.78% | 20.8% | 14.6% | 20.86% | -10.76% |
| Net Income | 648M | 445M | 728M | 763M | 665M | 455M | 584M | 772M | 564M | 848M | 752M | 726M | 757M | 673M | 630M | 678M | 377M | 468M | 220M | 422M |
| Net Margin % | 9.74% | 6.65% | 11.22% | 11.31% | 10.62% | 7.08% | 9.34% | 11.99% | 9.44% | 13.91% | 12.69% | 11.95% | 13.48% | 11.36% | 11.86% | 12.7% | 8.98% | 10.53% | 5.58% | 13.4% |
| Net Income Growth % | -2.56% | -2.2% | 24.66% | -1.17% | 17.91% | -46.34% | -22.34% | 6.34% | -25.5% | 26% | 19.37% | 7.08% | 100.8% | 43.8% | 186.36% | 60.66% | 3527.27% | 385.37% | 120% | 280.34% |
| Net Income (Continuing) | 648M | 445M | 728M | 763M | 665M | 455M | 584M | 772M | 564M | 848M | 752M | 726M | 757M | 673M | 630M | 678M | 377M | 468M | 220M | 422M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 2.41 | 1.65 | 2.67 | 2.78 | 2.39 | 1.62 | 2.07 | 2.69 | 1.93 | 2.87 | 2.51 | 2.38 | 2.43 | 2.12 | 1.93 | 2.06 | 1.14 | 1.42 | 0.67 | 1.28 |
| EPS Growth % | 0.84% | 1.85% | 28.99% | 3.35% | 23.83% | -43.55% | -17.53% | 13.03% | -20.58% | 35.38% | 30.05% | 15.53% | 113.16% | 49.3% | 188.06% | 60.94% | 3482.79% | 384% | 116.13% | 277.78% |
| EPS (Basic) | 2.41 | 1.66 | 2.68 | 2.78 | 2.40 | 1.63 | 2.07 | 2.70 | 1.94 | 2.88 | 2.52 | 2.39 | 2.45 | 2.13 | 1.94 | 2.06 | 1.15 | 1.43 | 0.67 | 1.29 |
| Diluted Shares Outstanding | 269.4M | 269.4M | 272.66M | 274.46M | 277.7M | 280.1M | 281.5M | 286.7M | 291.6M | 295.6M | 300.1M | 305M | 311M | 317.9M | 325.7M | 329.5M | 330M | 329.8M | 329.3M | 329.1M |
| Basic Shares Outstanding | 268.5M | 268.5M | 271.64M | 274.46M | 277.7M | 278.9M | 281.5M | 285.8M | 290.4M | 294.3M | 298.6M | 303.6M | 309.6M | 316.5M | 324.5M | 328.2M | 328.3M | 327.6M | 327.3M | 327.1M |
| Dividend Payout Ratio | 27.47% | 40.22% | 25% | 23.98% | 26.17% | 38.68% | 30.14% | 23.19% | 26.77% | 17.92% | 20.48% | 21.63% | 16.38% | 18.72% | 15.4% | 14.45% | - | - | - | - |