Question 1

What is Marriott International's P/FCF ratio?

Accepted Answer

Marriott International (MAR) P/FCF ratio is 32.0× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Marriott International?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Marriott International specifically, the relevant sector benchmark is the current sector median of 17.1×.

Question 5

Is Marriott International's P/FCF ratio high or low?

Accepted Answer

Marriott International's P/FCF ratio of 32.0× is below its own 5-year average of 47.7× and above the sector median of 17.1×. That places the current reading at the 55th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Marriott International's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Marriott International (MAR) P/FCF ratio has ranged from a low of 10.9× in 2011 to a high of 644.1× in 2003. The 5-year average is 47.7× and the 5-year median is 28.2×.

Question 7

What was Marriott International's P/FCF ratio in 2025?

Accepted Answer

Marriott International (MAR) P/FCF ratio at the end of 2025 was 28.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Marriott International's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$83.3B	$2.9B	28.7×	-10.2×	Dec 31, 2025
2024	$77.8B	$2B	38.9×	+14.5×	Dec 31, 2024
2023	$66.4B	$2.72B	24.4×	+1.2×	Dec 31, 2023
2022	$47.1B	$2.03B	23.2×	-31.3×	Dec 31, 2022
2021	$54.1B	$994M	54.5×	+25.8×	Dec 31, 2021
2020	$43B	$1.5B	28.6×	-19.5×	Dec 31, 2020
2019	$49.6B	$1.03B	48.1×	+27.5×	Dec 31, 2019
2018	$37.1B	$1.8B	20.6×	-3.8×	Dec 31, 2018
2017	$49.6B	$2.03B	24.4×	+2.4×	Dec 31, 2017
2016	$32.1B	$1.46B	22.0×	+6.7×	Dec 31, 2016
2015	$17.2B	$1.13B	15.3×	-11.8×	Dec 31, 2015
2014	$22B	$813M	27.1×	+7.0×	Dec 31, 2014
2013	$14.8B	$736M	20.1×	-18.9×	Dec 31, 2013
2012	$11.7B	$299M	39.0×	+27.4×	Dec 31, 2012
2011	$9.65B	$832M	11.6×	-6.6×	Dec 31, 2011
2010	$14.3B	$788M	18.2×	+5.2×	Dec 31, 2010
2009	$9.21B	$708M	13.0×	-26.9×	Dec 31, 2009
2008	$6.38B	$160M	39.9×	-74.6×	Dec 31, 2008
2007	$12.2B	$107M	114.4×	+71.6×	Dec 31, 2007
2006	$18.9B	$441M	42.8×	-201.3×	Dec 31, 2006
2005	$13.9B	$57M	244.1×	+224.1×	Dec 31, 2005
2004	$14.2B	$710M	20.0×	-21.5×	Dec 31, 2004
2003	$10.7B	$258M	41.5×	+7.8×	Dec 31, 2003
2002	$7.45B	$221M	33.7×	—	Dec 31, 2002


DraftKings (DKNG)	15.5×
Avery Dennison (AVY)	15.2×
Wynn Resorts (WYNN)	15.1×
NVR (NVR)	14.9×
Booking Holdings (BKNG)	14.7×
D.R. Horton (DHI)	14.2×
V.F. (VFC)	12.6×
Deckers Outdoor (DECK)	12.0×
Carnival Corporation (CCL)	11.9×
Lululemon Athletica (LULU)	11.6×
Toll Brothers (TOL)	11.1×
Hasbro (HAS)	9.8×
PDD Holdings (PDD)	9.5×
LKQ (LKQ)	9.3×
KB Home (KBH)	8.8×
Mohawk Industries (MHK)	8.4×
MercadoLibre (MELI)	8.2×
Best Buy Co. (BBY)	7.9×
Etsy (ETSY)	7.2×
Leggett & Platt (LEG)	6.6×
Weyco Group (WEYS)	6.2×
Expedia Group (EXPE)	6.0×
MGM Resorts (MGM)	5.5×
Ford Motor (F)	4.8×
General Motors (GM)	4.3×

P/FCF Ratio for Marriott International (MAR) 2002-2026

P/FCF Ratio daily chart for Marriott International (MAR)

Historical P/FCF Ratio for Marriott International (MAR) from 2002 to 2025

About P/FCF Ratio at Marriott International (MAR)

Marriott International P/FCF Ratio by Year

Marriott International P/FCF Ratio 2025: 28.7×

Marriott International P/FCF Ratio 2024: 38.9×

Marriott International P/FCF Ratio 2023: 24.4×

Marriott International P/FCF Ratio 2022: 23.2×

Marriott International P/FCF Ratio 2021: 54.5×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Marriott International (MAR) Key Financials