Marriott International Inc (MAR)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	11,197,000	10,745,000	10,276,000	10,170,000	9,249,000	8,727,000	7,797,000	7,801,000	8,144,000	8,373,000	8,839,000	8,842,000	8,157,000	8,602,000	7,618,000	5,908,000	9,812,000	10,399,000	10,031,000	9,869,000
Total assets	US$ in thousands	25,674,000	25,267,000	25,087,000	24,863,000	24,815,000	24,763,000	24,615,000	25,238,000	25,553,000	24,506,000	24,504,000	24,369,000	24,701,000	25,148,000	25,680,000	25,549,000	25,051,000	24,812,000	24,893,000	24,746,000
Debt-to-assets ratio		0.44	0.43	0.41	0.41	0.37	0.35	0.32	0.31	0.32	0.34	0.36	0.36	0.33	0.34	0.30	0.23	0.39	0.42	0.40	0.40

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $11,197,000K ÷ $25,674,000K
= 0.44

Marriott International, Inc.'s debt-to-assets ratio has been fluctuating over the past eight quarters. The trend indicates an increase in debt relative to total assets, with the ratio rising from 0.36 in Q2 2022 to 0.47 in Q3 2023. This suggests that the company has been relying more on debt to finance its operations and investments. However, it is essential to consider the industry benchmarks and the company's specific circumstances to evaluate whether these levels are concerning or part of a deliberate financial strategy. Overall, monitoring Marriott's debt-to-assets ratio trends can provide insights into its capital structure and financial risk management.