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Marriott International (MAR) Q4 2025 Financial Results Summary

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Marriott International (MAR) Q4 2025 Financial Results Summary

Release Date: February 10, 2026

Marriott International, Inc. (Nasdaq: MAR) has reported its financial results for the fourth quarter (Q4) and full year of 2025. The following key metrics and highlights provide a summary of the company’s performance.

Financial Highlights for Q4 2025:

Financial Highlights for Full Year 2025:

Return to Shareholders:

Development and Growth:

Company Outlook for 2026:

Share Repurchase:

Summary of Key Metrics:

For further details, please refer to the company’s investor relations resources and its conference call held on February 10, 2026.

REVENUES December 31, 2025 December 31, 2024 Better/(Worse)
Franchise fees $843 $795 6
Base management fees $343 $333 3
Incentive management fees $239 $206 16
Gross fee revenues $1,425 $1,334 7
Contract investment amortization -$49 -$27 -81
Net fee revenues $1,376 $1,307 5
Owned, leased, and other revenue $457 $418 9
Cost reimbursement revenue $4,857 $4,704 3
Total revenues $6,690 $6,429 4
OPERATING COSTS AND EXPENSES
Owned, leased, and other expense $416 $346 -20
Depreciation, amortization, and other $59 $46 -28
General and administrative $241 $261 8
Restructuring and merger-related charges $29 $52 44
Reimbursed expenses $5,168 $4,972 -4
Total Operating Costs $5,913 $5,677 -4
OPERATING INCOME $777 $752 3
Gains and other income, net $3 $16 -81
Interest expense -$208 -$180 -16
Interest income $9 $10 -10
Equity in earnings $1 $—
INCOME BEFORE INCOME TAXES $582 $598 -3
Provision for income taxes -$137 -$143 4
NET INCOME $445 $455 -2
EARNINGS PER SHARE
Earnings per share – basic $1.66 $1.63 2
Earnings per share – diluted $1.65 $1.63 1
Basic shares (in millions) 268.5
Diluted shares (in millions) 269.4
ASSETS December 31, 2025 December 31, 2024
Current Assets
Cash and equivalents $400 $400
Accounts receivable $1,805 $1,730
Inventory $257 $239
Prepaid expenses $327 $315
Other current assets $436 $350
Total Current Assets $3,225 $3,034
Property and Equipment, Net $10,542 $10,135
Goodwill $5,000 $4,860
Other Intangible Assets $732 $675
Investments in Unconsolidated Affiliates $483 $460
Total Assets $19,962 $19,164
LIABILITIES AND EQUITY December 31, 2025 December 31, 2024
Current Liabilities
Current portion of long-term debt $700 $680
Accounts payable $675 $600
Accrued expenses $637 $532
Other current liabilities $474 $460
Total Current Liabilities $2,486 $2,272
Long-term Debt $15,424 $13,940
Other Liabilities $385 $235
Total Liabilities $18,295 $16,447
Stockholders’ Equity
Common stock and additional paid-in capital $2,000 $2,000
Retained earnings $1,948 $1,128
Other accumulated comprehensive income -$281 -$411
Total Stockholders’ Equity $1,664 $1,717
Total Liabilities and Equity $19,962 $19,164