Marriott International Inc (MAR)

Payables turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cost of revenue (ttm)	US$ in thousands	2,390,000	1,909,000	1,872,000	1,864,000	1,805,000	1,552,000	1,529,000	1,520,000	1,526,000	1,338,000	1,334,000	1,290,000	1,293,000	1,271,000	1,190,000	1,181,000	1,240,000	1,697,000	1,786,000	1,837,000
Payables	US$ in thousands	763,000	807,000	826,000	793,000	738,000	696,000	670,000	722,000	746,000	746,000	773,000	737,000	726,000	711,000	626,000	535,000	527,000	486,000	555,000	828,000
Payables turnover		3.13	2.37	2.27	2.35	2.45	2.23	2.28	2.11	2.05	1.79	1.73	1.75	1.78	1.79	1.90	2.21	2.35	3.49	3.22	2.22

December 31, 2024 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $2,390,000K ÷ $763,000K
= 3.13

The payables turnover ratio of Marriott International Inc has shown fluctuations over the past few years. It was relatively stable between 2020 and 2021, ranging from 2.21 to 3.49. However, starting from June 2021, the ratio experienced a declining trend, reaching a low of 1.73 by June 30, 2022.

From September 2022 onwards, there was a slight uptick in the payables turnover ratio, but it remained below the levels seen in 2020 and 2021. The ratio reached 3.13 by December 31, 2024, indicating that the company's payables turnover improved significantly.

Overall, the fluctuation in Marriott's payables turnover may suggest changes in the company's payment policies or relationships with suppliers, which can impact liquidity and operational efficiency. It would be essential for stakeholders to monitor this ratio closely to understand the company's ability to manage its accounts payable effectively.