Marriott International Inc (MAR)

Fixed asset turnover

		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
Revenue (ttm)	US$ in thousands	23,713,000	23,541,000	22,926,000	22,189,000	20,773,000	19,296,000	17,929,000	15,740,000	13,857,000	11,583,000	9,891,000	8,206,000	10,571,000	13,770,000	16,800,000	20,641,000	20,972,000	20,890,000	20,657,000	20,761,000
Property, plant and equipment	US$ in thousands	1,581,000	1,572,000	1,560,000	1,595,000	1,585,000	1,509,000	1,532,000	1,531,000	1,503,000	1,496,000	1,490,000	1,482,000	1,514,000	1,790,000	1,818,000	1,854,000	1,904,000	1,960,000	1,945,000	1,961,000
Fixed asset turnover		15.00	14.98	14.70	13.91	13.11	12.79	11.70	10.28	9.22	7.74	6.64	5.54	6.98	7.69	9.24	11.13	11.01	10.66	10.62	10.59

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $23,713,000K ÷ $1,581,000K
= 15.00

Marriott International, Inc.'s fixed asset turnover has shown a consistent upward trend over the past year, indicating an improvement in the company's efficiency in generating revenue from its fixed assets. The fixed asset turnover ratio increased from 10.28 in Q1 2022 to 15.00 in Q4 2023, reflecting a significant enhancement in asset utilization.

This steady improvement suggests that Marriott International is effectively managing its fixed assets to generate sales and drive revenue growth. A higher fixed asset turnover ratio signifies that the company is generating more revenue per dollar invested in its fixed assets.

Overall, the increasing trend in Marriott's fixed asset turnover ratio is a positive indicator of the company's operational efficiency and effective utilization of its fixed assets to drive revenue generation. It reflects management's ability to optimize the company's asset base and maximize returns for shareholders.