Stock Analysis on Net

Marriott International Inc. (NASDAQ:MAR)

$22.49

This company has been moved to the archive! The financial data has not been updated since May 11, 2020.

Price to Book Value (P/BV)
since 2005

Microsoft Excel

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Calculation

Marriott International Inc., P/BV, long-term trends, calculation

Microsoft Excel

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-28), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2010-01-01), 10-K (reporting date: 2009-01-02), 10-K (reporting date: 2007-12-28), 10-K (reporting date: 2006-12-29), 10-K (reporting date: 2005-12-30).

1 US$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of Marriott International Inc. Annual Report.


Share Price Trend
The share price experienced significant volatility over the period analyzed. Initially, it rose sharply from 34.16 US$ in February 2006 to a peak of 49.73 US$ in February 2007 before declining steeply to 15.73 US$ by February 2009. Following this low point, there was a marked recovery and upward trend, reaching a high of 141.29 US$ in February 2018. Subsequently, the share price showed some decline but remained elevated relative to the earlier periods, ending at 119.64 US$ in February 2020.
Book Value Per Share (BVPS) Trend
The book value per share demonstrated a generally downward and volatile trajectory. Starting at 7.92 US$ in February 2006, it decreased continuously hitting negative values from February 2012 through February 2016, with the lowest recorded value at -14.16 US$. Interestingly, there was a recovery trend beginning in February 2017, returning to positive territory and peaking at 13.97 US$ before falling again, ending at 2.17 US$ in February 2020. This suggests substantial fluctuations in the company’s net asset base or equity valuation over time.
Price-to-Book Value (P/BV) Ratio Trend
The P/BV ratio showed considerable variation and some data gaps during the middle years. The ratio began at 4.31 in 2006, rising sharply to a peak above 9.5 by 2011. Notably, from 2012 through 2015, the P/BV ratio data is missing, likely reflecting the challenges or anomalies related to the negative book values recorded in those years. Starting from 2017, the ratio surged dramatically, reaching a very high value of 55.18 by February 2020. This elevated P/BV ratio indicates a significant premium placed by the market on the company’s shares relative to book value, especially during the later years.
Overall Insights
The data over the period reflects a company that faced significant financial stress and restructuring, as indicated by the negative book value per share for several years and the missing P/BV data in that timeframe. Despite these challenges, market confidence appears to have increased substantially after 2016, as evidenced by the rise in share price and P/BV ratio. The large disparity between share price and book value, especially at the end of the period, suggests investor optimism and a valuation driven more by future earnings potential or intangible assets rather than current net asset value.

Comparison to Competitors

Marriott International Inc., P/BV, long-term trends, comparison to competitors

Microsoft Excel

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-28), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2010-01-01), 10-K (reporting date: 2009-01-02), 10-K (reporting date: 2007-12-28), 10-K (reporting date: 2006-12-29), 10-K (reporting date: 2005-12-30).


Comparison to Sector (Consumer Services)

Marriott International Inc., P/BV, long-term trends, comparison to sector (consumer services)

Microsoft Excel

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-28), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2010-01-01), 10-K (reporting date: 2009-01-02), 10-K (reporting date: 2007-12-28), 10-K (reporting date: 2006-12-29), 10-K (reporting date: 2005-12-30).


Comparison to Industry (Consumer Discretionary)

Marriott International Inc., P/BV, long-term trends, comparison to industry (consumer discretionary)

Microsoft Excel

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-28), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2010-01-01), 10-K (reporting date: 2009-01-02), 10-K (reporting date: 2007-12-28), 10-K (reporting date: 2006-12-29), 10-K (reporting date: 2005-12-30).