Marriott International, Inc. (MAR) quarterly cash flow statement — complete operating, investing & financing history
Marriott International, Inc. (MAR) cash flow statement — 29-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 948M | 858M | 829M | 1.09B | 643M | 647M | 318M | 880M | 772M | 779M | 751M | 881M | 651M | 887M | 441M | 874M | 650M | 398M | 432M | 619M |
| Operating CF Margin % | 13.41% | 12.89% | 12.39% | 16.84% | 9.53% | 10.33% | 4.95% | 14.07% | 11.99% | 13.03% | 12.32% | 14.86% | 10.72% | 15.8% | 7.45% | 16.45% | 12.18% | 9.48% | 9.72% | 15.69% |
| Operating CF Growth % | 47.43% | 32.61% | 160.69% | 24.2% | -16.71% | -16.94% | -57.66% | -0.11% | 18.59% | -12.18% | 70.29% | 0.8% | 0.15% | 122.86% | 2.08% | 41.2% | 556.57% | 1374.07% | 2600% | 424.58% |
| Net Income | 766M | 648M | 445M | 728M | 763M | 665M | 455M | 584M | 772M | 564M | 848M | 752M | 726M | 757M | 673M | 630M | 678M | 377M | 468M | 220M |
| Depreciation & Amortization | 222M | 162M | 177M | 143M | 143M | 136M | 279M | 71M | 26M | 116M | 73M | 69M | 70M | 65M | 70M | 72M | 68M | 72M | 73M | 85M |
| Stock-Based Compensation | 66M | 57M | 65M | 61M | 58M | 52M | 64M | 63M | 57M | 53M | 58M | 54M | 56M | 37M | 48M | 48M | 52M | 44M | 44M | 42M |
| Deferred Taxes | 43M | 95M | -141M | 9M | -171M | 26M | -76M | -94M | -107M | 105M | -505M | -27M | -99M | 19M | 83M | 23M | 113M | 61M | 11M | -15M |
| Other Non-Cash Items | -107M | 259M | 85M | 28M | -6M | 93M | -484M | 144M | 57M | 182M | 67M | -41M | 17M | 105M | -116M | -53M | -112M | 74M | -203M | 96M |
| Working Capital Changes | -42M | -363M | 198M | 124M | -144M | -325M | 80M | 112M | -33M | -241M | 210M | 74M | -119M | -96M | -317M | 154M | -149M | -230M | 39M | 191M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -29M | -149M | -173M | -489M | -143M | -143M | -345M | -164M | -130M | -95M | -102M | -120M | -184M | -59M | -160M | -46M | -68M | -23M | -106M | -9M |
| Capital Expenditures | -152M | -130M | -172M | -142M | -155M | -135M | -342M | -174M | -125M | -109M | -134M | -124M | -99M | -95M | -140M | -73M | -70M | -49M | -69M | -44M |
| CapEx % of Revenue | 2.15% | 1.95% | 2.57% | 2.19% | 2.3% | 2.16% | 5.32% | 2.78% | 1.94% | 1.82% | 2.2% | 2.09% | 1.63% | 1.69% | 2.36% | 1.37% | 1.31% | 1.17% | 1.55% | 1.12% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -66M | -19M | -1M | -347M | 12M | -8M | -3M | 10M | -5M | 14M | 31M | 4M | -85M | 36M | -20M | 27M | 2M | 26M | -37M | 34M |
| Cash from Financing | -915M | -612M | -979M | -602M | -354M | -383M | 36M | -670M | -720M | -602M | -1.03B | -597M | -459M | -782M | -824M | -327M | -1.08B | -729M | 298M | -492M |
| Debt Issued (Net) | 398M | 337M | 205M | 334M | 579M | 606M | 809M | 488M | 475M | 781M | 94M | 497M | 617M | 572M | 642M | 681M | -675M | -651M | 304M | -354M |
| Equity Issued (Net) | -1.12B | -647M | -1B | -753M | -749M | -706M | -586M | -980M | -1.01B | -1.11B | -965M | -913M | -911M | -1.14B | -1.33B | -935M | -300M | 0 | 0 | 0 |
| Dividends Paid | -192M | -178M | -179M | -182M | -183M | -174M | -176M | -176M | -179M | -151M | -152M | -154M | -157M | -124M | -126M | -97M | -98M | 0 | 0 | 0 |
| Share Repurchases | -1.12B | -700M | -1B | -800M | -749M | -751M | -586M | -1.02B | -1.01B | -1.14B | -965M | -942M | -911M | -1.14B | -1.33B | -935M | -300M | 0 | 0 | 0 |
| Other Financing | -2M | -124M | -5M | -1M | -1M | -109M | -11M | -2M | -4M | -121M | -3M | -27M | -8M | -95M | -9M | 24M | -9M | -78M | -6M | -138M |
| Net Change in Cash | 4M | 97M | -323M | 2M | 146M | 121M | 9M | 46M | -78M | 82M | -377M | 164M | 8M | 46M | -543M | 501M | -500M | -354M | 624M | 118M |
| Free Cash Flow | 796M | 728M | 657M | 951M | 488M | 512M | -24M | 706M | 647M | 670M | 617M | 757M | 552M | 792M | 301M | 801M | 580M | 349M | 363M | 575M |
| FCF Margin % | 11.26% | 10.94% | 9.82% | 14.66% | 7.24% | 8.18% | -0.37% | 11.29% | 10.05% | 11.21% | 10.12% | 12.77% | 9.09% | 14.11% | 5.08% | 15.08% | 10.87% | 8.31% | 8.16% | 14.57% |
| FCF Growth % | 63.11% | 42.19% | 2837.5% | 34.7% | -24.57% | -23.58% | -103.89% | -6.74% | 17.21% | -15.4% | 104.98% | -5.49% | -4.83% | 126.93% | -17.08% | 39.3% | 883.05% | 11733.33% | 1750% | 475% |
| FCF per Share | 2.95 | 2.70 | 2.44 | 3.49 | 1.78 | 1.84 | -0.09 | 2.51 | 2.26 | 2.30 | 2.09 | 2.52 | 1.81 | 2.55 | 0.95 | 2.46 | 1.76 | 1.06 | 1.10 | 1.75 |
| FCF Conversion (FCF/Net Income) | 1.24x | 1.32x | 1.86x | 1.50x | 0.84x | 0.97x | 0.70x | 1.51x | 1.00x | 1.38x | 0.89x | 1.17x | 0.90x | 1.17x | 0.66x | 1.39x | 0.96x | 1.06x | 0.92x | 2.81x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |