Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.4B | $20.5B | $20.8B | $21.0B | $10.6B | $13.9B | $20.8B | $23.7B | $25.1B | $26.2B |
| Revenue growth | — | 32.7% | 1.5% | 1.0% | -49.6% | 31.1% | 49.9% | 14.2% | 5.8% | 4.3% |
| Operating income | $1.42B | $2.50B | $2.37B | $1.80B | $84.0M | $1.75B | $3.46B | $3.86B | $3.77B | $4.14B |
| Operating margin | 9.2% | 12.2% | 11.4% | 8.6% | 0.8% | 12.6% | 16.7% | 16.3% | 15.0% | 15.8% |
| Net income | $808M | $1.46B | $1.91B | $1.27B | -$267M | $1.10B | $2.36B | $3.08B | $2.38B | $2.60B |
| Net margin | 5.2% | 7.1% | 9.2% | 6.1% | -2.5% | 7.9% | 11.4% | 13.0% | 9.5% | 9.9% |
| EPS (diluted) | $2.73 | $3.84 | $5.38 | $3.80 | -$0.82 | $3.34 | $7.24 | $10.18 | $8.33 | $9.51 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.62B | $2.23B | $2.36B | $1.69B | $1.64B | $1.18B | $2.36B | $3.17B | $2.75B | $3.21B |
| Capital expenditures | $199M | $240M | $556M | $653M | $135M | $183M | $332M | $452M | $750M | $604M |
| Free cash flow | $1.42B | $1.99B | $1.80B | $1.03B | $1.50B | $994M | $2.03B | $2.72B | $2.00B | $2.61B |
| Share buybacks | $568M | $3.01B | $2.85B | $2.26B | $150M | $0.00 | $2.57B | $3.95B | $3.76B | $3.30B |
| Dividends paid | $374M | $482M | $543M | $612M | $156M | $0.00 | $321M | $587M | $682M | $718M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $858M | $383M | $316M | $225M | $877M | $1.39B | $507M | $338M | $396M | $358M |
| Total assets | $24.1B | $23.8B | $23.7B | $25.1B | $24.7B | $25.6B | $24.8B | $25.7B | $26.2B | $27.5B |
| Long-term debt | — | — | — | $247M | $143M | $135M | $92.0M | $56.0M | $55.0M | $23.0M |
| Shareholders' equity | $5.12B | $3.58B | $2.23B | $703M | $430M | $1.41B | $568M | -$682M | -$2.99B | -$3.77B |
| Retained earnings | $6.50B | $7.24B | $8.98B | $9.64B | $9.21B | $10.3B | $12.3B | $14.8B | $16.5B | $18.4B |
| Shares (wtd avg diluted) | 296M | 380M | 354M | 336M | 326M | 329M | 326M | 303M | 285M | 274M |
Every figure is extracted from MARRIOTT INTERNATIONAL INC /MD/’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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