Stock Analysis on Net
Stock Analysis on Net

Marriott International Inc. (NASDAQ:MAR)

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

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

Microsoft Excel

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

Two-Component Disaggregation of ROE

Marriott International Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Mar 31, 2020 — = 3.64% × —
Dec 31, 2019 181.08% = 5.08% × 35.63
Sep 30, 2019 156.44% = 5.28% × 29.61
Jun 30, 2019 115.08% = 5.73% × 20.08
Mar 31, 2019 116.16% = 7.52% × 15.44
Dec 31, 2018 85.71% = 8.05% × 10.65
Sep 30, 2018 77.07% = 7.51% × 10.26
Jun 30, 2018 59.13% = 7.05% × 8.39
Mar 31, 2018 40.02% = 5.83% × 6.87
Dec 31, 2017 36.77% = 5.73% × 6.42
Sep 30, 2017 31.36% = 5.84% × 5.37
Jun 30, 2017 22.30% = 4.58% × 4.87
Mar 31, 2017 17.92% = 3.87% × 4.63
Dec 31, 2016 14.56% = 3.23% × 4.51
Sep 30, 2016 12.63% = 2.95% × 4.28
Jun 30, 2016 — = 13.20% × —
Mar 31, 2016 — = 14.23% × —
Dec 31, 2015 — = 14.12% × —
Sep 30, 2015 — = — × —
Jun 30, 2015 — = — × —
Mar 31, 2015 — = — × —

Based on: 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).

Three-Component Disaggregation of ROE

Marriott International Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Mar 31, 2020 — = 4.50% × 0.81 × —
Dec 31, 2019 181.08% = 6.07% × 0.84 × 35.63
Sep 30, 2019 156.44% = 6.28% × 0.84 × 29.61
Jun 30, 2019 115.08% = 6.91% × 0.83 × 20.08
Mar 31, 2019 116.16% = 8.97% × 0.84 × 15.44
Dec 31, 2018 85.71% = 9.19% × 0.88 × 10.65
Sep 30, 2018 77.07% = 8.39% × 0.90 × 10.26
Jun 30, 2018 59.13% = 7.65% × 0.92 × 8.39
Mar 31, 2018 40.02% = 6.39% × 0.91 × 6.87
Dec 31, 2017 36.77% = 5.99% × 0.96 × 6.42
Sep 30, 2017 31.36% = 6.30% × 0.93 × 5.37
Jun 30, 2017 22.30% = 5.27% × 0.87 × 4.87
Mar 31, 2017 17.92% = 4.91% × 0.79 × 4.63
Dec 31, 2016 14.56% = 4.57% × 0.71 × 4.51
Sep 30, 2016 12.63% = 4.82% × 0.61 × 4.28
Jun 30, 2016 — = 5.87% × 2.25 × —
Mar 31, 2016 — = 5.91% × 2.41 × —
Dec 31, 2015 — = 5.93% × 2.38 × —
Sep 30, 2015 — = — × — × —
Jun 30, 2015 — = — × — × —
Mar 31, 2015 — = — × — × —

Based on: 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).

Five-Component Disaggregation of ROE

Marriott International Inc., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Mar 31, 2020 — = 0.78 × 0.75 × 7.64% × 0.81 × —
Dec 31, 2019 181.08% = 0.80 × 0.80 × 9.50% × 0.84 × 35.63
Sep 30, 2019 156.44% = 0.81 × 0.80 × 9.63% × 0.84 × 29.61
Jun 30, 2019 115.08% = 0.85 × 0.82 × 9.99% × 0.83 × 20.08
Mar 31, 2019 116.16% = 0.83 × 0.86 × 12.56% × 0.84 × 15.44
Dec 31, 2018 85.71% = 0.81 × 0.87 × 12.93% × 0.88 × 10.65
Sep 30, 2018 77.07% = 0.56 × 0.91 × 16.38% × 0.90 × 10.26
Jun 30, 2018 59.13% = 0.53 × 0.91 × 15.80% × 0.92 × 8.39
Mar 31, 2018 40.02% = 0.49 × 0.91 × 14.22% × 0.91 × 6.87
Dec 31, 2017 36.77% = 0.48 × 0.91 × 13.65% × 0.96 × 6.42
Sep 30, 2017 31.36% = 0.69 × 0.88 × 10.37% × 0.93 × 5.37
Jun 30, 2017 22.30% = 0.69 × 0.85 × 8.98% × 0.87 × 4.87
Mar 31, 2017 17.92% = 0.69 × 0.84 × 8.48% × 0.79 × 4.63
Dec 31, 2016 14.56% = 0.66 × 0.83 × 8.31% × 0.71 × 4.51
Sep 30, 2016 12.63% = 0.68 × 0.84 × 8.42% × 0.61 × 4.28
Jun 30, 2016 — = 0.70 × 0.87 × 9.73% × 2.25 × —
Mar 31, 2016 — = 0.68 × 0.88 × 9.85% × 2.41 × —
Dec 31, 2015 — = 0.68 × 0.88 × 9.82% × 2.38 × —
Sep 30, 2015 — = — × — × — × — × —
Jun 30, 2015 — = — × — × — × — × —
Mar 31, 2015 — = — × — × — × — × —

Based on: 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).

Two-Component Disaggregation of ROA

Marriott International Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Mar 31, 2020 3.64% = 4.50% × 0.81
Dec 31, 2019 5.08% = 6.07% × 0.84
Sep 30, 2019 5.28% = 6.28% × 0.84
Jun 30, 2019 5.73% = 6.91% × 0.83
Mar 31, 2019 7.52% = 8.97% × 0.84
Dec 31, 2018 8.05% = 9.19% × 0.88
Sep 30, 2018 7.51% = 8.39% × 0.90
Jun 30, 2018 7.05% = 7.65% × 0.92
Mar 31, 2018 5.83% = 6.39% × 0.91
Dec 31, 2017 5.73% = 5.99% × 0.96
Sep 30, 2017 5.84% = 6.30% × 0.93
Jun 30, 2017 4.58% = 5.27% × 0.87
Mar 31, 2017 3.87% = 4.91% × 0.79
Dec 31, 2016 3.23% = 4.57% × 0.71
Sep 30, 2016 2.95% = 4.82% × 0.61
Jun 30, 2016 13.20% = 5.87% × 2.25
Mar 31, 2016 14.23% = 5.91% × 2.41
Dec 31, 2015 14.12% = 5.93% × 2.38
Sep 30, 2015 — = — × —
Jun 30, 2015 — = — × —
Mar 31, 2015 — = — × —

Based on: 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).

The primary reason for the decrease in return on assets ratio (ROA) over Q1 2020 is the decrease in profitability measured by net profit margin ratio.

Four-Component Disaggregation of ROA

Marriott International Inc., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Mar 31, 2020 3.64% = 0.78 × 0.75 × 7.64% × 0.81
Dec 31, 2019 5.08% = 0.80 × 0.80 × 9.50% × 0.84
Sep 30, 2019 5.28% = 0.81 × 0.80 × 9.63% × 0.84
Jun 30, 2019 5.73% = 0.85 × 0.82 × 9.99% × 0.83
Mar 31, 2019 7.52% = 0.83 × 0.86 × 12.56% × 0.84
Dec 31, 2018 8.05% = 0.81 × 0.87 × 12.93% × 0.88
Sep 30, 2018 7.51% = 0.56 × 0.91 × 16.38% × 0.90
Jun 30, 2018 7.05% = 0.53 × 0.91 × 15.80% × 0.92
Mar 31, 2018 5.83% = 0.49 × 0.91 × 14.22% × 0.91
Dec 31, 2017 5.73% = 0.48 × 0.91 × 13.65% × 0.96
Sep 30, 2017 5.84% = 0.69 × 0.88 × 10.37% × 0.93
Jun 30, 2017 4.58% = 0.69 × 0.85 × 8.98% × 0.87
Mar 31, 2017 3.87% = 0.69 × 0.84 × 8.48% × 0.79
Dec 31, 2016 3.23% = 0.66 × 0.83 × 8.31% × 0.71
Sep 30, 2016 2.95% = 0.68 × 0.84 × 8.42% × 0.61
Jun 30, 2016 13.20% = 0.70 × 0.87 × 9.73% × 2.25
Mar 31, 2016 14.23% = 0.68 × 0.88 × 9.85% × 2.41
Dec 31, 2015 14.12% = 0.68 × 0.88 × 9.82% × 2.38
Sep 30, 2015 — = — × — × — × —
Jun 30, 2015 — = — × — × — × —
Mar 31, 2015 — = — × — × — × —

Based on: 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).

The primary reason for the decrease in return on assets ratio (ROA) over Q1 2020 is the decrease in operating profitability measured by EBIT margin ratio.

Disaggregation of Net Profit Margin

Marriott International Inc., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Mar 31, 2020 4.50% = 0.78 × 0.75 × 7.64%
Dec 31, 2019 6.07% = 0.80 × 0.80 × 9.50%
Sep 30, 2019 6.28% = 0.81 × 0.80 × 9.63%
Jun 30, 2019 6.91% = 0.85 × 0.82 × 9.99%
Mar 31, 2019 8.97% = 0.83 × 0.86 × 12.56%
Dec 31, 2018 9.19% = 0.81 × 0.87 × 12.93%
Sep 30, 2018 8.39% = 0.56 × 0.91 × 16.38%
Jun 30, 2018 7.65% = 0.53 × 0.91 × 15.80%
Mar 31, 2018 6.39% = 0.49 × 0.91 × 14.22%
Dec 31, 2017 5.99% = 0.48 × 0.91 × 13.65%
Sep 30, 2017 6.30% = 0.69 × 0.88 × 10.37%
Jun 30, 2017 5.27% = 0.69 × 0.85 × 8.98%
Mar 31, 2017 4.91% = 0.69 × 0.84 × 8.48%
Dec 31, 2016 4.57% = 0.66 × 0.83 × 8.31%
Sep 30, 2016 4.82% = 0.68 × 0.84 × 8.42%
Jun 30, 2016 5.87% = 0.70 × 0.87 × 9.73%
Mar 31, 2016 5.91% = 0.68 × 0.88 × 9.85%
Dec 31, 2015 5.93% = 0.68 × 0.88 × 9.82%
Sep 30, 2015 — = — × — × —
Jun 30, 2015 — = — × — × —
Mar 31, 2015 — = — × — × —

Based on: 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).

The primary reason for the decrease in net profit margin ratio over Q1 2020 is the decrease in operating profitability measured by EBIT margin ratio.