Marriott International Inc (MAR)
Interest coverage
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) | US$ in thousands | 3,943,000 | 3,517,000 | 1,600,000 | -21,000 | 1,993,000 |
| Interest expense | US$ in thousands | 565,000 | 403,000 | 420,000 | 445,000 | 394,000 |
| Interest coverage | 6.98 | 8.73 | 3.81 | -0.05 | 5.06 |
December 31, 2023 calculation
Interest coverage = EBIT ÷ Interest expense
= $3,943,000K ÷ $565,000K
= 6.98
Based on the data provided for Marriott International, Inc., the interest coverage ratio has demonstrated fluctuations over the past five years. The trend indicates an improvement in interest coverage from a low of 0.50 in 2020 to a high of 9.26 in 2022, reflecting better ability to cover interest expenses with operating income. In 2023, the interest coverage ratio decreased to 7.35, which is still relatively healthy compared to the previous years. Overall, Marriott International, Inc. has generally shown a strong capacity to meet its interest obligations throughout the period under review, with some variability in performance.
Peer comparison
Dec 31, 2023