Marriott International (MAR) FY2023 results: revenue $23.7 billion, up 14.2% on the year
Marriott International Inc. (MAR) reported revenue of $23.7 billion for fiscal 2023, the year ended 31 December 2023, up 14.2% on the year before. Net income was $3.1 billion, up 30.7%, and diluted earnings per share $10.18. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2024.
Revenue
$23.7 billion
+14.2% on the year
FY2016FY2023
Operating margin
16.3%
16.7% a year earlier
FY2016FY2023
Net income
$3.1 billion
+30.7% on the year
FY2016FY2023
Diluted EPS
$10.18
+40.6% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
3,170
2,363
1,177
+34.2%
Capital expenditure
452
332
183
+36.1%
Free cash flow
2,718
2,031
994
+33.8%
Free cash flow margin
11.5%
9.8%
7.2%
Cash from investing
-465
-297
-187
Cash from financing
-2,864
-2,962
-463
Depreciation and amortisation
348
311
n/a
+11.9%
Share-based compensation
205
192
182
+6.8%
Buybacks
3,953
2,566
0.0
+54.1%
Dividends paid
587
321
0.0
+82.9%
Dividend per share
$1.96
$1.00
n/a
+96.0%
Diluted shares, weighted
303m
326m
329m
-7.0%
Shares outstanding at period end
291m
311m
326m
-6.5%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
-682
568
1,414
Debt
11,873
10,064
10,138
+18.0%
Operating lease liabilities
887
1,034
1,098
-14.2%
Finance lease liabilities
123
131
139
-6.1%
Other liabilities
13,473
13,018
12,764
+3.5%
Total liabilities and equity
25,674
24,815
25,553
+3.5%
Fixed assets
1,581
1,585
1,503
-0.3%
Goodwill
8,886
8,872
9,073
+0.2%
Intangible assets
9,190
8,747
8,926
+5.1%
Cash and equivalents
338
507
1,393
-33.3%
Other assets
5,679
5,104
4,658
+11.3%
Total assets
25,674
24,815
25,553
+3.5%
10-K for the year ended 31 December 2023, filed 13 February 2024: the filing.