Marriott International Inc (MAR)

Debt-to-capital ratio

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Long-term debt US$ in thousands 11,197,000 9,249,000 8,144,000 8,157,000 9,812,000
Total stockholders’ equity US$ in thousands -682,000 568,000 1,414,000 430,000 703,000
Debt-to-capital ratio 1.06 0.94 0.85 0.95 0.93

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $11,197,000K ÷ ($11,197,000K + $-682,000K)
= 1.06

The debt-to-capital ratio of Marriott International, Inc. has fluctuated over the past five years, ranging from 0.88 in 2021 to 1.06 in 2023. This ratio indicates the proportion of the company's capital that is financed through debt.

In 2021, the ratio was at its lowest point with 0.88, suggesting a lower reliance on debt funding compared to the other years. This may indicate a more conservative approach to capital structure during that year.

The ratio increased to 0.96 in 2020 before decreasing slightly to 0.94 in 2019. The uptick in 2020 could indicate a higher debt component in the capital structure, possibly due to strategic initiatives or economic conditions during that period.

The most recent data point for 2023 shows the ratio at 1.06, the highest in the period under review. This increase suggests a higher level of debt compared to equity in financing the company's operations at the end of 2023.

Overall, the trend in Marriott International's debt-to-capital ratio indicates varying levels of reliance on debt financing over the years, influenced by factors such as strategic decisions, economic conditions, and capital structure management.


Peer comparison

Dec 31, 2023


See also:

Marriott International Inc Debt to Capital