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Marriott International (MAR) Q4 FY2021 earnings: revenue $4.4 billion, up 104.7% on the year

Marriott International Inc. (MAR) reported revenue of $4.4 billion for Q4 FY2021, the quarter ended 31 December 2021, up 104.7% on the same quarter a year earlier. Net income was $468 million, and diluted earnings per share $1.42. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2022.

Revenue
$4.4 billion
+104.7% on the year · +12.7% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
14.3%
-5.9% a year earlier
Q1 FY2020Q4 FY2021
Net income
$468 million
+112.7% on the quarter
Q1 FY2020Q4 FY2021
Diluted EPS
$1.42
+111.9% on the quarter
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue4,4463,9462,172+12.7%+104.7%
Operating income635545-128+16.5%
Operating margin14.3%13.8%-5.9%
Interest expense97.0n/an/a
Pre-tax income548n/an/a
Income tax80.0n/an/a
Effective tax rate14.6%n/an/a
Net income468220-164+112.7%
Net margin10.5%n/an/a
Diluted EPS$1.42$0.67-$0.50+111.9%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free 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

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow432n/an/a
Capital expenditure69.0n/an/a
Free cash flow363n/an/a
Free cash flow margin8.2%n/an/a
Cash from investing-106n/an/a
Cash from financing298n/an/a
Share-based compensation44.0n/an/a
Dividends paid0.0n/an/a
Diluted shares, weighted329m329mn/a0.0%
Shares outstanding at period end326m326m324m+0.2%+0.6%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity1,414918430+54.0%+228.8%
Debt10,1389,84310,376+3.0%-2.3%
Operating lease liabilities1,098n/an/a
Finance lease liabilities139n/an/a
Other liabilities12,764n/an/a
Total liabilities and equity25,553n/an/a
Fixed assets1,503n/an/a
Goodwill9,073n/an/a
Intangible assets8,926n/an/a
Cash and equivalents1,393772877+80.4%+58.8%
Other assets4,658n/an/a
Total assets25,553n/an/a

Questions

What was Marriott International's revenue in Q4 FY2021?

Marriott International (MAR) reported revenue of $4.4 billion for Q4 FY2021, the quarter ended 31 December 2021, up 104.7% on the same quarter a year earlier.

How much did Marriott International earn in Q4 FY2021?

Net income for Q4 FY2021 was $468 million, and diluted earnings per share $1.42.

When did Marriott International report Q4 FY2021 results?

Marriott International filed its 10-K for the year that ended with the quarter on 15 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue4,4464,1995,3385,3135,9235,6156,0755,9286,0955,9776,4396,2556,4296,2636,7446,4896,6906,6547,0717,005
Operating income6355589509589969511,0961,0997188761,1959447529481,2361,1807771,0641,2291,274
Operating margin14%13%18%18%17%17%18%19%12%15%19%15%12%15%18%18%12%16%17%18%
Interest expense97.093.095.0100115126140146153163173179180192203206208214221227
Pre-tax income5484768788698918449649895817271,0407865987641,0549945828581,0441,060
Tax rate15%21%23%28%24%10%25%24%-46%22%26%26%24%13%28%27%24%24%27%25%
Net income468377678630673757726752848564772584455665763728445648766794
Net margin11%9%13%12%11%13%12%13%14%9%12%9%7%11%11%11%7%10%11%11%
Diluted EPS$1.42$1.14$2.06$1.94$2.12$2.43$2.38$2.51$2.87$1.93$2.69$2.07$1.63$2.39$2.78$2.67$1.65$2.43$2.90$3.04
Operating cash flow4323986508744418876518817517797728803186476431,0938298589481,433
Capital expenditure69.049.070.073.014095.099.0124134109125174342135155142172130152129
Free cash flow363349580801301792552757617670647706-24.05124889516577287961,304
Buybacksn/a0.03009351,3311,1359119429651,1441,0121,0205867517498001,0007001,1191,262
Dividends paid0.00.098.097.0126124157154152151179176176174183182179178192189
Shares outstanding326m327m325m317m311m303m298m294m291m286m282m278m277m274m271m268m266m264m261m258m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 15 February 2022: the filing.