GURUFOCUS.COM » STOCK LIST » USA » NAS » Marriott International Inc (NAS:MAR) » Definitions » Piotroski F-Score
Switch to:

Marriott International Piotroski F-Score

: 7 (As of Today)
View and export this data going back to 1998. Start your Free Trial

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Marriott International has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Marriott International's Piotroski F-Score or its related term are showing as below:

MAR' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 6   Max: 9
Current: 7

During the past 13 years, the highest Piotroski F-Score of Marriott International was 9. The lowest was 2. And the median was 6.


Marriott International Piotroski F-Score Historical Data

The historical data trend for Marriott International's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Marriott International Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 6.00 6.00 5.00 7.00

Marriott International Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 6.00 7.00 8.00 7.00

Competitive Comparison

For the Lodging subindustry, Marriott International's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Marriott International Piotroski F-Score Distribution

For the Travel & Leisure industry and Consumer Cyclical sector, Marriott International's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Marriott International's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was 220 + 468 + 377 + 678 = $1,743 Mil.
Cash Flow from Operations was 619 + 432 + 398 + 650 = $2,099 Mil.
Revenue was 3946 + 4446 + 4199 + 5338 = $17,929 Mil.
Gross Profit was 825 + 902 + 823 + 1230 = $3,780 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(24504 + 24506 + 25553 + 25238 + 24615) / 5 = $24883.2 Mil.
Total Assets at the begining of this year (Jun21) was $24,504 Mil.
Long-Term Debt & Capital Lease Obligation was $9,278 Mil.
Total Current Assets was $3,106 Mil.
Total Current Liabilities was $6,853 Mil.
Net Income was 100 + -164 + -11 + 422 = $347 Mil.

Revenue was 2254 + 2172 + 2316 + 3149 = $9,891 Mil.
Gross Profit was 437 + 388 + 348 + 726 = $1,899 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(25680 + 25148 + 24701 + 24369 + 24504) / 5 = $24880.4 Mil.
Total Assets at the begining of last year (Jun20) was $25,680 Mil.
Long-Term Debt & Capital Lease Obligation was $10,128 Mil.
Total Current Assets was $2,799 Mil.
Total Current Liabilities was $6,121 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Marriott International's current Net Income (TTM) was 1,743. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Marriott International's current Cash Flow from Operations (TTM) was 2,099. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun21)
=1743/24504
=0.07113124

ROA (Last Year)=Net Income/Total Assets (Jun20)
=347/25680
=0.01351246

Marriott International's return on assets of this year was 0.07113124. Marriott International's return on assets of last year was 0.01351246. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Marriott International's current Net Income (TTM) was 1,743. Marriott International's current Cash Flow from Operations (TTM) was 2,099. ==> 2,099 > 1,743 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=9278/24883.2
=0.37286201

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=10128/24880.4
=0.40706741

Marriott International's gearing of this year was 0.37286201. Marriott International's gearing of last year was 0.40706741. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jun22)=Total Current Assets/Total Current Liabilities
=3106/6853
=0.45323216

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=2799/6121
=0.45727822

Marriott International's current ratio of this year was 0.45323216. Marriott International's current ratio of last year was 0.45727822. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Marriott International's number of shares in issue this year was 329.5. Marriott International's number of shares in issue last year was 329.1. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=3780/17929
=0.21083161

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1899/9891
=0.19199272

Marriott International's gross margin of this year was 0.21083161. Marriott International's gross margin of last year was 0.19199272. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun21)
=17929/24504
=0.73167646

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=9891/25680
=0.38516355

Marriott International's asset turnover of this year was 0.73167646. Marriott International's asset turnover of last year was 0.38516355. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+0+0+1+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Marriott International has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Marriott International  (NAS:MAR) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Marriott International Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Marriott International's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Marriott International Business Description

Marriott International logo
Address
10400 Fernwood Road, Bethesda, MD, USA, 20817
Marriott operates nearly 1.5 million rooms across roughly 30 brands. Luxury represents 10% of total rooms, while full service, limited service, and time-shares are 43%, 46%, and 2% of all units, respectively. Marriott, Courtyard, and Sheraton are the largest brands, while Autograph, Tribute, Moxy, Aloft, and Element are newer lifestyle brands. Managed and franchised represent 97% of total rooms. North America makes up two thirds of total rooms. Managed, franchise, and incentive fees represent the vast majority of revenue and profitability for the company.
Executives
Goren Isabella D director C/O LYONDELLBASELL INDUSTRIES N V DELFTSEPLEIN 27E ROTTERDAM P7 3013AA
Breland Benjamin T. officer: EVP & Chief HR Officer 10400 FERNWOOD ROAD BETHESDA MD 20817
Rozanski Horacio director 8283 GREENSBORO DRIVE MCLEAN VA 22102
Lee Felitia officer: Controller and CAO 10400 FERNWOOD ROAD BETHESDA MD 20817
Mccarthy Margaret M director AETNA INC. 151 FARMINGTON AVENUE HARTFORD CT 06156
Brown William P officer: Pres. & Managing Dir., Europe 10400 FERNWOOD ROAD BETHESDA MD 20817
Reiss Rena Hozore officer: EVP & General Counsel 71 SOUTH WACKER DRIVE 12TH FLOOR CHICAGO IL 60606
Duncan Bruce W director ONE NORTH WACKER DRIVE SUITE 4200 CHICAGO IL 60606
Hippeau Eric director STARWOOD HOTELS & RESORTS WORLDWIDE 44 SOUTH BROADWAY WHITE PLAINS NY 10601
Lewis Aylwin B director 111 N. CANAL SUITE 850 CHICAGO IL 60606
Oberg Kathleen K. officer: CFO 10400 FERNWOOD ROAD BETHESDA MD 20817
Smith Craig S. officer: Pres. Mgn. Dir. Asia Pacific 10400 FERNWOOD ROAD BETHESDA MD 20817
Schwab Susan C director 2101 VAN MUNCHING HALL COLLEGE PARK MD 20742
Juliana B. Marriott Marital Trust other: Member of a 10% Group 6106 MACARTHER BOULEVARD SUITE 110 BETHESDA MD 20816
Bauduin Val officer: Controller & CAO 10400 FERNWOOD ROAD BETHESDA MD 20817

Marriott International Headlines

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)