Marriott International (MAR) FY2012 results: revenue $11.8 billion, down 4.1% on the year
Marriott International Inc. (MAR) reported revenue of $11.8 billion for fiscal 2012, the year ended 28 December 2012, down 4.1% on the year before. Net income was $571 million, up 188.4%, and diluted earnings per share $1.72. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2013.
Revenue
$11.8 billion
-4.1% on the year
FY2007FY2012
Operating margin
8.0%
4.3% a year earlier
FY2007FY2012
Net income
$571 million
+188.4% on the year
FY2007FY2012
Diluted EPS
$1.72
+212.7% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
11,814
12,317
11,691
-4.1%
Operating income
940
526
695
+78.7%
Operating margin
8.0%
4.3%
5.9%
Interest expense
137
164
180
-16.5%
Pre-tax income
849
356
551
+138.5%
Income tax
278
158
93.0
+75.9%
Effective tax rate
32.7%
44.4%
16.9%
Net income
571
198
458
+188.4%
Net margin
4.8%
1.6%
3.9%
Diluted EPS
$1.72
$0.55
$1.21
+212.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
989
1,089
1,151
-9.2%
Capital expenditure
437
183
307
+138.8%
Free cash flow
552
906
844
-39.1%
Free cash flow margin
4.7%
7.4%
7.2%
Cash from investing
-585
-247
-264
Cash from financing
-418
-1,245
-497
Depreciation and amortisation
102
144
178
-29.2%
Share-based compensation
94.0
103
90.0
-8.7%
Buybacks
1,145
1,425
57.0
-19.6%
Dividends paid
191
134
43.0
+42.5%
Dividend per share
$0.49
$0.39
$0.21
+26.5%
Diluted shares, weighted
333m
362m
378m
-8.1%
Shares outstanding at period end
311m
333m
367m
-6.6%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
-1,285
-781
1,585
Debt
2,935
2,171
2,829
+35.2%
Other liabilities
4,692
4,520
4,569
+3.8%
Total liabilities and equity
6,342
5,910
8,983
+7.3%
Fixed assets
1,539
1,168
1,307
+31.8%
Goodwill
874
875
875
-0.1%
Intangible assets
1,115
846
768
+31.8%
Cash and equivalents
88.0
102
505
-13.7%
Inventory
10.0
11.0
1,489
-9.1%
Other assets
2,716
2,908
4,039
-6.6%
Total assets
6,342
5,910
8,983
+7.3%
10-K for the year ended 28 December 2012, filed 20 February 2013: the filing.