Marriott International Inc. (NASDAQ:MAR)

Price to Earnings (P/E) Ratio

The P/E ratio exhibited significant fluctuations over the five-year period. Starting at 19.16 in 2015, it surged sharply to 43.27 in 2016, indicating increased investor expectations or a rise in stock price relative to earnings. In 2017, it slightly declined to 36.81, followed by a further drop to 22.17 in 2018. In 2019, the ratio increased again to 30.47. Overall, the ratio reflects periods of both high market optimism and relative moderation in earnings valuation.

Price to Operating Profit (P/OP) Ratio

The P/OP ratio echoes a pattern similar to the P/E ratio but with less volatility. It more than doubled from 12.19 in 2015 to 24.67 in 2016, then gradually decreased to 21.41 in 2017 and further to 17.87 in 2018. By 2019, it rose again to 21.55. This trend suggests that the market valuation relative to operating profit peaked in 2016 and moderated afterwards, with a slight rebound towards the end of the period.

Price to Sales (P/S) Ratio

The P/S ratio showed a steady increase from 1.14 in 2015 to a peak of 2.21 in 2017, indicating growing market valuation relative to company sales. However, following this peak, the ratio declined to 2.04 in 2018 and further to 1.85 in 2019. This pattern suggests an initial market enthusiasm that softened in the last two years, potentially reflecting changes in sales growth or market perception.

Price to Book Value (P/BV) Ratio

The P/BV ratio demonstrates a marked upward trend over the dataset. Data is unavailable for 2015, but starting at 6.3 in 2016, it more than doubled to 13.54 in 2017, then increased to 19.0 in 2018, and surged dramatically to 55.18 in 2019. This rapid increase indicates a significant rise in market valuation relative to the book value of the company’s equity, suggesting increased investor confidence or a substantial appreciation in stock price relative to equity base.

Share Price Trend

The share price showed a general upward trend from 2015 through 2017, increasing significantly from $64.94 to $141.29. However, there was a decline in 2018 and 2019, with the price falling to $124.45 and then to $119.64, respectively, indicating some volatility after reaching its peak in 2017.

Earnings per Share (EPS) Trend

The EPS exhibited fluctuations over the period analyzed. It declined from $3.39 in 2015 to $2.03 in 2016, followed by a rebound to $3.84 in 2017 and a significant increase to $5.61 in 2018. However, in 2019, EPS decreased again to $3.93, suggesting variability in profitability across the years with a notable peak in 2018.

Price-to-Earnings (P/E) Ratio Analysis

The P/E ratio showed considerable variation. It was 19.16 in 2015, surged to 43.27 in 2016, then dipped slightly to 36.81 in 2017. It further decreased to 22.17 in 2018 before rising again to 30.47 in 2019. This pattern suggests shifts in market valuation relative to earnings, with the highest valuation multiples observed in 2016 and lower, though still elevated, multiples in 2018 and 2019.

Overall Observations

The data reflects a period of growth and then some retrenchment. While the share price peaked in 2017, earnings showed a delayed peak in 2018. The P/E ratio's high variability indicates changing investor sentiment and valuation expectations. The divergence between EPS and share price trends, particularly the falling share price in 2018 and 2019 despite high EPS in 2018, may suggest external factors impacting the stock price beyond earnings performance.

The financial data over the five-year period reveals several notable trends in share price, operating profit per share, and the price-to-operating profit ratio.

Share Price

The share price demonstrated overall growth between 2015 and 2017, increasing sharply from $64.94 to $141.29. This was followed by a decline in 2018 and 2019, dropping to $124.45 and $119.64 respectively, although it remained significantly above the 2015 level. The trend suggests an initial strong market confidence and valuation increase, with a subsequent moderation.

Operating Profit Per Share (OPPS)

The operating profit per share showed variability across the years. Starting at $5.33 in 2015, it decreased noticeably in 2016 to $3.57. However, it rebounded significantly in 2017 to $6.60 and peaked in 2018 at $6.97, before declining again to $5.55 in 2019. This indicates fluctuations in operational profitability, with an overall upward recovery after a dip in 2016.

Price-to-Operating Profit Ratio (P/OP)

The P/OP ratio experienced considerable changes during the period. It was relatively low at 12.19 in 2015, sharply rose to 24.67 in 2016, and then gradually declined to 21.41 in 2017 and 17.87 in 2018 before climbing again to 21.55 in 2019. The elevated ratio in 2016 suggests that the share price was high relative to operating profit, possibly indicating overvaluation or investor anticipation despite lower operational earnings that year. Subsequent years showed a decline in this ratio, pointing to a rebalancing between share price and operating profit before a slight increase in 2019.

Overall, the data reveals a period marked by initial strong share price growth and profit fluctuations, with investor valuation metrics adjusting accordingly. The combination of rising and falling operating profit per share and corresponding changes in the price-to-operating profit ratio suggests that market sentiment and actual operational performance did not always move in tandem across these years.

The financial data reflects several notable trends over the five-year period ending in 2019. The share price of the company showed a general upward movement from 2015 to 2017, increasing significantly from $64.94 to $141.29. However, after 2017, the share price demonstrated a declining trend, dropping to $124.45 in 2018 and further to $119.64 in 2019.

Sales per share exhibited a somewhat fluctuating pattern over the same period. Initially, sales per share decreased from $57.15 in 2015 to $44.51 in 2016. Following this dip, the metric rebounded and increased substantially in 2017 to $64.05, then slightly declined to $61.11 in 2018 before rising again to $64.69 in 2019. Overall, sales per share ended slightly higher in 2019 compared to the starting point in 2015.

The Price-to-Sales (P/S) ratio increased from 1.14 in 2015 to a peak of 2.21 in 2017, reflecting a period where the stock price grew more rapidly relative to sales per share. Beyond 2017, the P/S ratio steadily declined to 1.85 by 2019, indicating that the share price decreased in relation to sales per share during that time frame.

In summary, the data suggests an initial phase of strong market valuation growth until 2017, followed by a period of correction or stabilization in share price through 2019. Sales per share showed resilience with minimal net growth by the end of the period. The P/S ratio trend aligns with these observations, highlighting changing investor sentiment and valuation multiples over time.

The data reveals several notable trends in the financial measures over the five-year period ending in 2019. The share price exhibited a significant upward movement from 2015 through 2017, rising from $64.94 to a peak of $141.29. This increase was followed by a decline in the subsequent two years, with the price falling to $124.45 in 2018 and further to $119.64 in 2019, indicating some volatility in market valuation after the initial growth phase.

Book value per share (BVPS) demonstrated a dramatic change throughout the period. Starting from a negative value of -$14.16 in 2015, it sharply improved to a positive $13.97 in 2016, indicating a recovery or restructuring in the company's net worth per share. However, after 2016, the BVPS consistently declined each year, reaching $2.17 in 2019. This pattern suggests a weakening in the company's book value despite the initially strong turnaround.

The price-to-book value (P/BV) ratio presents a clear magnification of the trends in share price relative to the net book value. The P/BV was initially unreported in 2015 but then rose dramatically from 6.3 in 2016 to 13.54 in 2017 and further to 19 in 2018. In 2019, the ratio surged substantially to 55.18. This continuous increase signals that the market price considerably outpaced the book value, reflecting either high growth expectations or potentially an overvaluation relative to net assets as the book value diminished.

In summary, the company experienced a strong increase in share price initially, accompanied by a recovery in book value, followed by a gradual deterioration in book value and a corresponding steep rise in the price-to-book ratio. The conditions suggest a growing disparity between market valuation and underlying net asset value during the latter years, which could imply increased market optimism or heightened risk perceptions.