Total Asset Turnover
since 2005
Calculation
Marriott International Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2019 | 0.84 | = | 20,972) | ÷ | 25,051) |
| Dec 31, 2018 | 0.88 | = | 20,758) | ÷ | 23,696) |
| Dec 31, 2017 | 0.96 | = | 22,894) | ÷ | 23,948) |
| Dec 31, 2016 | 0.71 | = | 17,072) | ÷ | 24,140) |
| Dec 31, 2015 | 2.38 | = | 14,486) | ÷ | 6,082) |
| Dec 31, 2014 | 2.01 | = | 13,796) | ÷ | 6,865) |
| Dec 31, 2013 | 1.88 | = | 12,784) | ÷ | 6,794) |
| Dec 28, 2012 | 1.86 | = | 11,814) | ÷ | 6,342) |
| Dec 30, 2011 | 2.08 | = | 12,317) | ÷ | 5,910) |
| Dec 31, 2010 | 1.30 | = | 11,691) | ÷ | 8,983) |
| Jan 1, 2010 | 1.38 | = | 10,908) | ÷ | 7,933) |
| Jan 2, 2009 | 1.45 | = | 12,879) | ÷ | 8,903) |
| Dec 28, 2007 | 1.45 | = | 12,990) | ÷ | 8,942) |
| Dec 29, 2006 | 1.42 | = | 12,160) | ÷ | 8,588) |
| Dec 30, 2005 | 1.35 | = | 11,550) | ÷ | 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 total asset turnover ratio exhibits three distinct phases between 2005 and 2019: a period of relative stability, a phase of significant efficiency growth, and a final period of substantial asset expansion that led to a decline in the ratio.
- Initial Stability (2005–2010)
- During this timeframe, the total asset turnover remained consistent, fluctuating within a narrow range between 1.30 and 1.45. Revenues and total assets moved in a generally synchronized manner, with assets remaining between approximately 7,933 million and 8,983 million, supporting a steady revenue stream that grew from 11,550 million to 11,691 million by the end of 2010.
- Efficiency Peak (2011–2015)
- A marked increase in asset turnover is observed starting in 2011, culminating in a peak ratio of 2.38 in 2015. This trend was driven by a significant reduction in the total asset base, which decreased from 8,983 million in 2010 to 6,082 million in 2015. Concurrently, revenues grew from 12,317 million to 14,486 million. The combination of a shrinking asset base and rising revenues indicates a period of heightened operational efficiency and a shift toward an asset-light strategy.
- Structural Asset Expansion (2016–2019)
- A dramatic structural shift occurred in 2016, characterized by a surge in total assets from 6,082 million to 24,140 million. This expansion caused the total asset turnover ratio to drop precipitously to 0.71. While revenues reached a peak of 22,894 million in 2017, the growth in assets far outpaced revenue gains. Consequently, the turnover ratio remained below 1.0 for the remainder of the period, ending at 0.84 in 2019, reflecting a significant change in the company's capital structure and asset utilization.
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Comparison to Competitors
Marriott International Inc., total asset turnover, 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 | 0.84 | — | 0.70 | 1.09 | — | 0.44 | 1.38 |
| Dec 31, 2018 | 0.88 | — | 0.64 | 2.15 | — | 0.64 | 1.02 |
| Dec 31, 2017 | 0.96 | — | 0.50 | 2.19 | — | 0.68 | 1.56 |
| Dec 31, 2016 | 0.71 | — | 0.54 | 1.93 | — | 0.79 | 1.49 |
| Dec 31, 2015 | 2.38 | — | 0.53 | 1.65 | — | 0.67 | 1.54 |
| Dec 31, 2014 | 2.01 | — | 0.57 | 1.61 | — | 0.80 | 1.53 |
| Dec 31, 2013 | 1.88 | — | 0.65 | 1.60 | — | 0.77 | 1.29 |
| Dec 28, 2012 | 1.86 | — | 0.80 | 1.64 | — | 0.78 | 1.62 |
| Dec 30, 2011 | 2.08 | — | 1.10 | 1.59 | — | 0.82 | 1.59 |
| Dec 31, 2010 | 1.30 | — | 1.06 | 1.64 | — | 0.75 | 1.68 |
| Jan 1, 2010 | 1.38 | — | 1.27 | 1.58 | — | 0.75 | 1.75 |
| Jan 2, 2009 | 1.45 | — | 1.40 | 1.61 | — | 0.83 | 1.83 |
| Dec 28, 2007 | 1.45 | — | 1.04 | 1.50 | — | 0.78 | 1.76 |
| Dec 29, 2006 | 1.42 | — | 1.02 | 1.36 | — | 0.74 | 1.76 |
| Dec 30, 2005 | 1.35 | — | 1.28 | 1.60 | — | 0.68 | 1.81 |
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., total asset turnover, long-term trends, comparison to sector (consumer services)
| Marriott International Inc. | Consumer Services | |
|---|---|---|
| Dec 31, 2019 | 0.84 | 0.73 |
| Dec 31, 2018 | 0.88 | 0.80 |
| Dec 31, 2017 | 0.96 | 0.82 |
| Dec 31, 2016 | 0.71 | 0.90 |
| Dec 31, 2015 | 2.38 | 0.83 |
| Dec 31, 2014 | 2.01 | 0.90 |
| Dec 31, 2013 | 1.88 | 0.87 |
| Dec 28, 2012 | 1.86 | 0.94 |
| Dec 30, 2011 | 2.08 | 0.99 |
| Dec 31, 2010 | 1.30 | 0.94 |
| Jan 1, 2010 | 1.38 | 0.94 |
| Jan 2, 2009 | 1.45 | 1.02 |
| Dec 28, 2007 | 1.45 | 0.94 |
| Dec 29, 2006 | 1.42 | 0.89 |
| Dec 30, 2005 | 1.35 | 0.82 |
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., total asset turnover, long-term trends, comparison to industry (consumer discretionary)
| Marriott International Inc. | Consumer Discretionary | |
|---|---|---|
| Dec 31, 2019 | 0.84 | 0.94 |
| Dec 31, 2018 | 0.88 | 0.96 |
| Dec 31, 2017 | 0.96 | 0.93 |
| Dec 31, 2016 | 0.71 | 0.96 |
| Dec 31, 2015 | 2.38 | 0.98 |
| Dec 31, 2014 | 2.01 | 1.02 |
| Dec 31, 2013 | 1.88 | 1.04 |
| Dec 28, 2012 | 1.86 | 1.06 |
| Dec 30, 2011 | 2.08 | 1.08 |
| Dec 31, 2010 | 1.30 | 1.04 |
| Jan 1, 2010 | 1.38 | 0.94 |
| Jan 2, 2009 | 1.45 | 0.96 |
| Dec 28, 2007 | 1.45 | 0.88 |
| Dec 29, 2006 | 1.42 | 0.82 |
| Dec 30, 2005 | 1.35 | 0.85 |
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).