Marriott International (MAR) FY2020 results: revenue $10.6 billion, down 49.6% on the year
Marriott International Inc. (MAR) reported revenue of $10.6 billion for fiscal 2020, the year ended 31 December 2020, down 49.6% on the year before. Net income was -$267 million, and diluted earnings per share $-0.82. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$10.6 billion
-49.6% on the year
FY2013FY2020
Operating margin
0.8%
8.6% a year earlier
FY2013FY2020
Net income
-$267 million
FY2013FY2020
Diluted EPS
-$0.82
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
10,571
20,972
20,758
-49.6%
Operating income
84.0
1,800
2,366
-95.3%
Operating margin
0.8%
8.6%
11.4%
Interest expense
445
394
340
+12.9%
Pre-tax income
-466
1,599
2,345
Income tax
-199
326
438
Effective tax rate
n/a
20.4%
18.7%
Net income
-267
1,273
1,907
Net margin
-2.5%
6.1%
9.2%
Diluted EPS
-$0.82
$3.80
$5.38
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,639
1,685
2,357
-2.7%
Capital expenditure
135
653
556
-79.3%
Free cash flow
1,504
1,032
1,801
+45.7%
Free cash flow margin
14.2%
4.9%
8.7%
Cash from investing
35.0
-284
-52.0
Cash from financing
-1,033
-1,508
-2,374
Share-based compensation
201
187
184
+7.5%
Buybacks
150
2,260
2,850
-93.4%
Dividends paid
156
612
543
-74.5%
Dividend per share
$0.48
$1.85
$1.56
-74.1%
Diluted shares, weighted
326m
336m
354m
-2.9%
Shares outstanding at period end
324m
324m
339m
+0.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
430
703
2,225
-38.8%
Debt
10,376
10,940
9,347
-5.2%
Operating lease liabilities
823
882
0.0
-6.7%
Finance lease liabilities
146
151
n/a
-3.3%
Other liabilities
12,926
12,375
12,124
+4.5%
Total liabilities and equity
24,701
25,051
23,696
-1.4%
Fixed assets
1,514
1,904
1,956
-20.5%
Goodwill
9,175
9,048
9,039
+1.4%
Intangible assets
8,989
8,641
8,380
+4.0%
Cash and equivalents
877
225
316
+289.8%
Other assets
4,146
5,233
4,005
-20.8%
Total assets
24,701
25,051
23,696
-1.4%
10-K for the year ended 31 December 2020, filed 18 February 2021: the filing.