Marriott International (MAR) FY2016 results: revenue $15.4 billion, up 6.4% on the year
Marriott International Inc. (MAR) reported revenue of $15.4 billion for fiscal 2016, the year ended 31 December 2016, up 6.4% on the year before. Net income was $808 million, down 5.9%, and diluted earnings per share $2.73. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2017.
Revenue
$15.4 billion
+6.4% on the year
FY2009FY2016
Operating margin
9.2%
9.3% a year earlier
FY2009FY2016
Net income
$808 million
-5.9% on the year
FY2009FY2016
Diluted EPS
$2.73
-13.3% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
15,407
14,486
13,796
+6.4%
Operating income
1,424
1,350
1,159
+5.5%
Operating margin
9.2%
9.3%
8.4%
Interest expense
234
167
115
+40.1%
Pre-tax income
1,239
1,255
1,088
-1.3%
Income tax
431
396
335
+8.8%
Effective tax rate
34.8%
31.6%
30.8%
Net income
808
859
753
-5.9%
Net margin
5.2%
5.9%
5.5%
Diluted EPS
$2.73
$3.15
$2.54
-13.3%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,619
1,515
1,224
+6.9%
Capital expenditure
199
305
411
-34.8%
Free cash flow
1,420
1,210
813
+17.4%
Free cash flow margin
9.2%
8.4%
5.9%
Cash from investing
-2,346
367
-313
Cash from financing
1,497
-1,890
-933
Depreciation and amortisation
244
197
199
+23.9%
Share-based compensation
212
113
109
+87.6%
Buybacks
568
1,917
1,510
-70.4%
Dividends paid
374
253
223
+47.8%
Diluted shares, weighted
296m
273m
297m
+8.4%
Shares outstanding at period end
386m
265m
280m
+45.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
5,121
-3,590
-2,200
Debt
8,506
4,107
3,771
+107.1%
Other liabilities
10,513
5,565
5,262
+88.9%
Total liabilities and equity
24,140
6,082
6,833
+296.9%
Fixed assets
2,335
1,029
1,460
+126.9%
Goodwill
7,598
943
894
+705.7%
Intangible assets
9,270
1,451
1,351
+538.9%
Cash and equivalents
858
96.0
104
+793.8%
Other assets
4,079
2,563
3,024
+59.1%
Total assets
24,140
6,082
6,833
+296.9%
10-K for the year ended 31 December 2016, filed 21 February 2017: the filing.