Marriott International Inc (MAR)

Days of sales outstanding (DSO)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Receivables turnover		8.74	8.71	8.94	9.01	8.08	8.11	7.86	7.45	6.99	5.67	5.12	4.18	5.98	7.69	10.36	9.98	8.76	8.73	8.87	9.36
DSO	days	41.74	41.91	40.84	40.50	45.17	44.98	46.46	48.98	52.21	64.35	71.33	87.31	61.05	47.47	35.22	36.57	41.68	41.83	41.13	38.99

December 31, 2023 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 8.74
= 41.74

To analyze Marriott International, Inc.'s Days of Sales Outstanding (DSO) over the past eight quarters, we can observe a fluctuating trend. DSO measures the average number of days a company takes to collect revenue after a sale is made.

In Q1 2022, the DSO was at its peak at 48.98 days, indicating that Marriott took almost 49 days on average to collect revenue. This figure decreased in subsequent quarters up to Q2 2023, where it reached a low of 40.84 days, suggesting an improvement in the company's collection efficiency.

However, the DSO has slightly increased in Q3 and Q4 of 2023, hovering around 41-42 days. Although this is still lower than the Q1 2022 peak, it indicates that Marriott may be experiencing some challenges in collecting revenue efficiently in recent quarters.

Overall, Marriott's DSO has shown some variability but has generally been within a range of 40-50 days over the past eight quarters. Further monitoring of DSO trends will be necessary to assess the company's effectiveness in managing its accounts receivable and cash flow.