Return on Assets (ROA)
since 2005
Calculation
Marriott International Inc., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss)1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2019 | 5.08% | = | 100 | × | 1,273) | ÷ | 25,051) |
| Dec 31, 2018 | 8.05% | = | 100 | × | 1,907) | ÷ | 23,696) |
| Dec 31, 2017 | 5.73% | = | 100 | × | 1,372) | ÷ | 23,948) |
| Dec 31, 2016 | 3.23% | = | 100 | × | 780) | ÷ | 24,140) |
| Dec 31, 2015 | 14.12% | = | 100 | × | 859) | ÷ | 6,082) |
| Dec 31, 2014 | 10.97% | = | 100 | × | 753) | ÷ | 6,865) |
| Dec 31, 2013 | 9.21% | = | 100 | × | 626) | ÷ | 6,794) |
| Dec 28, 2012 | 9.00% | = | 100 | × | 571) | ÷ | 6,342) |
| Dec 30, 2011 | 3.35% | = | 100 | × | 198) | ÷ | 5,910) |
| Dec 31, 2010 | 5.10% | = | 100 | × | 458) | ÷ | 8,983) |
| Jan 1, 2010 | -4.36% | = | 100 | × | (346) | ÷ | 7,933) |
| Jan 2, 2009 | 4.07% | = | 100 | × | 362) | ÷ | 8,903) |
| Dec 28, 2007 | 7.78% | = | 100 | × | 696) | ÷ | 8,942) |
| Dec 29, 2006 | 7.08% | = | 100 | × | 608) | ÷ | 8,588) |
| Dec 30, 2005 | 7.84% | = | 100 | × | 669) | ÷ | 8,530) |
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$ in millions
The Return on Assets (ROA) for the period between 2005 and 2019 exhibits significant volatility, characterized by three distinct phases: a period of stability and subsequent decline, a phase of efficiency optimization, and a structural shift following a massive expansion of the asset base.
- Initial Stability and Financial Contraction (2005–2010)
- ROA remained relatively stable between 7.08% and 7.84% from 2005 to 2007. A sharp deterioration followed, coinciding with a decline in net income. This trend culminated in 2010, where a net loss of 346 million US dollars resulted in a negative ROA of -4.36%, marking the lowest point of profitability relative to assets in the analyzed period.
- Recovery and Peak Efficiency (2011–2015)
- A sustained recovery is observed starting in 2011. During this interval, net income grew steadily while the total asset base decreased from 8.98 billion US dollars in 2010 to 6.08 billion US dollars by 2015. This combination of increasing earnings and a leaner asset structure drove ROA to a peak of 14.12% in 2015, representing the highest level of asset productivity in the data set.
- Asset Expansion and Dilution (2016–2019)
- A pivotal structural change occurred in 2016, where total assets increased abruptly from 6.08 billion US dollars to 24.14 billion US dollars. This quadrupling of the asset base led to an immediate dilution of ROA, which dropped to 3.23% in 2016 despite the maintenance of strong net income. While ROA recovered to 8.05% in 2018, driven by a peak net income of 1.91 billion US dollars, it moderated to 5.08% in 2019 as net income declined to 1.27 billion US dollars.
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Comparison to Competitors
Marriott International Inc., ROA, long-term trends, comparison to competitors
| Marriott International Inc. | Airbnb Inc. | Booking Holdings Inc. | Chipotle Mexican Grill Inc. | DoorDash, Inc. | McDonald’s Corp. | Starbucks Corp. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2019 | 5.08% | — | 22.73% | 6.86% | — | 12.68% | 18.73% |
| Dec 31, 2018 | 8.05% | — | 17.62% | 7.79% | — | 18.06% | 18.70% |
| Dec 31, 2017 | 5.73% | — | 9.20% | 8.62% | — | 15.36% | 20.08% |
| Dec 31, 2016 | 3.23% | — | 10.76% | 1.13% | — | 15.11% | 19.66% |
| Dec 31, 2015 | 14.12% | — | 14.65% | 17.45% | — | 11.94% | 22.15% |
| Dec 31, 2014 | 10.97% | — | 16.21% | 17.49% | — | 13.88% | 19.23% |
| Dec 31, 2013 | 9.21% | — | 18.12% | 16.30% | — | 15.25% | 0.07% |
| Dec 28, 2012 | 9.00% | — | 21.61% | 16.66% | — | 15.44% | 16.84% |
| Dec 30, 2011 | 3.35% | — | 26.60% | 15.08% | — | 16.68% | 16.92% |
| Dec 31, 2010 | 5.10% | — | 18.15% | 15.96% | — | 15.47% | 14.81% |
| Jan 1, 2010 | -4.36% | — | 26.69% | 13.19% | — | 15.06% | 7.01% |
| Jan 2, 2009 | 4.07% | — | 14.40% | 9.48% | — | 15.15% | 5.56% |
| Dec 28, 2007 | 7.78% | — | 11.63% | 9.77% | — | 8.15% | 12.59% |
| Dec 29, 2006 | 7.08% | — | 6.74% | 6.86% | — | 12.21% | 12.74% |
| Dec 30, 2005 | 7.84% | — | 25.56% | 9.60% | — | 8.68% | 14.07% |
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., ROA, long-term trends, comparison to sector (consumer services)
| Marriott International Inc. | Consumer Services | |
|---|---|---|
| Dec 31, 2019 | 5.08% | 15.92% |
| Dec 31, 2018 | 8.05% | 17.84% |
| Dec 31, 2017 | 5.73% | 14.00% |
| Dec 31, 2016 | 3.23% | 14.37% |
| Dec 31, 2015 | 14.12% | 14.62% |
| Dec 31, 2014 | 10.97% | 15.50% |
| Dec 31, 2013 | 9.21% | 12.90% |
| Dec 28, 2012 | 9.00% | 16.48% |
| Dec 30, 2011 | 3.35% | 17.53% |
| Dec 31, 2010 | 5.10% | 15.57% |
| Jan 1, 2010 | -4.36% | 14.40% |
| Jan 2, 2009 | 4.07% | 13.50% |
| Dec 28, 2007 | 7.78% | 8.95% |
| Dec 29, 2006 | 7.08% | 12.01% |
| Dec 30, 2005 | 7.84% | 9.60% |
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., ROA, long-term trends, comparison to industry (consumer discretionary)
| Marriott International Inc. | Consumer Discretionary | |
|---|---|---|
| Dec 31, 2019 | 5.08% | 5.57% |
| Dec 31, 2018 | 8.05% | 5.96% |
| Dec 31, 2017 | 5.73% | 4.05% |
| Dec 31, 2016 | 3.23% | 5.57% |
| Dec 31, 2015 | 14.12% | 6.25% |
| Dec 31, 2014 | 10.97% | 4.75% |
| Dec 31, 2013 | 9.21% | 5.52% |
| Dec 28, 2012 | 9.00% | 5.65% |
| Dec 30, 2011 | 3.35% | 9.48% |
| Dec 31, 2010 | 5.10% | 6.05% |
| Jan 1, 2010 | -4.36% | 4.67% |
| Jan 2, 2009 | 4.07% | 0.21% |
| Dec 28, 2007 | 7.78% | 2.85% |
| Dec 29, 2006 | 7.08% | 0.60% |
| Dec 30, 2005 | 7.84% | 3.80% |
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).