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Marriott InternationalMAR +1.47%88 Forward Rate of Return (Yacktman) % is 22.08% as of Jun. 2026, which is 2% above its 10-year median of 21.56. GuruFocus rates MAR with a GF Score™ of 88/100 and a GF Value™ of $313.69 (Fairly Valued). The stock has 2 warning signs investors should review. Among 570 Travel & Leisure companies, Marriott International ranks better than 73.68% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Marriott International's forward rate of return for was 22.08%.
The historical rank and industry rank for Marriott International's Forward Rate of Return (Yacktman) % or its related term are showing as below:
MAR'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -19.24 Med: 21.56 Max: 24.86
Current: 22.3
During the past 13 years, Marriott International's highest Forward Rate of Return was 24.86. The lowest was -19.24. And the median was 21.56.
MAR's Forward Rate of Return (Yacktman) % is ranked better than 73.68% of 570
companies
in the Travel & Leisure industry
Industry Median: 10.255
vs MAR: 22.30
Unlike the Earnings Yield %, the Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Marriott International (NAS:MAR) Forward Rate of Return (Yacktman) % Explanation
Unlike the Earnings Yield, the Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
For the growth part of the Forward Rate of Return calculation, GuruFocus uses the 5-year average growth rate of EBITDA per share as the growth rate, and the growth rate is always capped at 20%. For the Free Cash Flow we use per share data averaged over five years. The reason we use five years is to make it comparable to the growth rate.
Be Aware
In the Forward Rate of Return calculation, the growth rate is added directly to today's free cash flow yield. Therefore the calculation is reliable only if the company can grow at the same rate in the future as it did in the past. Investors should pay close attention to this when researching growth stocks. A more accurate measurement for return is Return on Capital.
Marriott International Forward Rate of Return (Yacktman) % Related Terms
Marriott International Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for Marriott International's Forward Rate of Return (Yacktman) % 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.
Marriott International Forward Rate of Return (Yacktman) % Chart
MAR vs HLT, H, HTHT: Forward Rate of Return (Yacktman) % Comparison
For the Lodging subindustry, Marriott International's Forward Rate of Return (Yacktman) %, along with its competitors' market caps and Forward Rate of Return (Yacktman) % 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 Forward Rate of Return (Yacktman) % vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Marriott International's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Marriott International's Forward Rate of Return (Yacktman) % falls into.
Marriott International Forward Rate of Return (Yacktman) % Calculation
Forward Rate of Return is a concept that Don Yacktman uses in his investment approach. Yacktman explained the forward rate of return concept in detail in his interview with GuruFocus. Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. He said in the interview (March 2012, when the S&P 500 was at about 1400):
If the business is stable, this calculation is fairly straightforward. For instance, on the S&P 500 we would normalize earnings. We would then calculate what percentage of those earnings are not reinvested in the underlying businesses and are therefore free. Historically, for the S&P 500, this has been just under 50% of earnings. Currently, we expect the S&P to earn about 70 on a normalized basis, a number which is far below reported earnings due to our adjusting for record high profit margins. $70 X ½ / 1400 gives you a normalized free cash flow yield of approximately 2.5%.
The historical real growth rate of the S&P 500 (companies) is about 1.5%. Assuming an inflation rate of 2.5%, the forward rate of return on an investment in the S&P 500 is about 6.5% today (2.5% free cash flow yield plus 1.5% real growth plus 2.5% inflation).
* 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.
What does a Forward Rate of Return (Yacktman) % of 22.08% mean?
Marriott International (MAR) has a Forward Rate of Return (Yacktman) % of 22.08% as of Jun. 2026. Yacktman's forward rate of return equals the sum of normalized free-cash-flow yield plus earnings growth. View historical data on Marriott International and its competitors. This is near median its historical median of 21.56. According to the industry distribution chart, Marriott International ranks #150 out of 570 companies in the Travel & Leisure industry, placing it in the top 26.3%.
Is Marriott International's Forward Rate of Return (Yacktman) % too high?
Marriott International's current Forward Rate of Return (Yacktman) % of 22.08% is near median its 10-year median of 21.56. The Travel & Leisure industry median Forward Rate of Return (Yacktman) % is 10.26. Marriott International's value of 22.08% is 115.3% above this industry median. Based on the distribution chart, Marriott International ranks #150 out of 570 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, Marriott International has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Marriott International's Forward Rate of Return (Yacktman) % compare to HLT and H?
According to the Travel & Leisure industry distribution chart, Marriott International ranks #150 out of 570 companies for Forward Rate of Return (Yacktman) %. This puts Marriott International in the upper half of its industry. The industry median Forward Rate of Return (Yacktman) % is 10.26. Marriott International's value of 22.08% is 115.3% above this benchmark. While the company's 10-year median is 21.56 vs. the industry median of 10.26, Marriott International has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Forward Rate of Return (Yacktman) % for a Travel & Leisure company?
The median Forward Rate of Return (Yacktman) % among Travel & Leisure companies is 10.26, based on 570 companies in the industry. Companies in the top quartile (top 25%) have a Forward Rate of Return (Yacktman) % significantly above this median, while those in the bottom quartile fall well below. However, Forward Rate of Return (Yacktman) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Marriott International's current Forward Rate of Return (Yacktman) % of 22.08% is 115.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Forward Rate of Return (Yacktman) % mean?
A high Forward Rate of Return (Yacktman) % can signal that a stock is expensive relative to its fundamentals. Yacktman's forward rate of return equals the sum of normalized free-cash-flow yield plus earnings growth. View historical data on Marriott International and its competitors. For the Travel & Leisure industry, the median Forward Rate of Return (Yacktman) % is 10.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Marriott International's current Forward Rate of Return (Yacktman) % is 22.08%, which is near median its own 10-year median of 21.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Marriott International stock overvalued right now?
Based on GuruFocus' analysis, Marriott International (MAR) is currently considered Fairly Valued. The stock's GF Value™ is $313.69, compared to a current price of $338.92 — trading 8% above its estimated fair value. The current Forward Rate of Return (Yacktman) % is 22.08%, which is near median its 10-year median of 21.56 and 115.3% above the Travel & Leisure industry median of 10.26. Marriott International's overall GF Score™ is 88/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Forward Rate of Return (Yacktman) % calculated?
Forward Rate of Return (Yacktman) % is calculated from a company's financial statements. For Marriott International (MAR), the current Forward Rate of Return (Yacktman) % is 22.08% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Marriott International (MAR) Overvalued in 2026?
Based on GuruFocus' analysis, Marriott International stock appears to be overvalued.
The current stock price of $338.92 is trading 8% above its estimated GF Value™ of $313.69.
GuruFocus considers Marriott International to be Fairly Valued.
Key valuation signals for MAR:
Forward Rate of Return (Yacktman) %: 22.08% (near median its 10-year median of 21.56)
GF Value™: $313.69 vs. price of $338.92 (8% above fair value)
Industry Position: 115.3% above the Travel & Leisure median (#150 of 570)
No single metric tells the full story. See the MAR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Marriott operates 1.8 million rooms across roughly 30 brands. At the end of 2025, luxury represented roughly 10% of total rooms, premium was 42%, select service was 46%, and midscale was 2%. Marriott, Courtyard, and Sheraton are the largest brands, while Autograph, Tribute, Moxy, Aloft, and Element are newer lifestyle brands. Managed and franchised represented 99% of total rooms as of Dec. 31, 2025. North America makes up 61% of total rooms. Managed, franchise, and incentive fees represent the vast majority of revenue and profitability for the company.
88GF Score
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