Marriott International
Marriott International returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 26.4% | 21.62% | — | — | 9.33% | 18.7 pp |
| FY 2026 Q1 | Mar 31, 2026 | 27.01% | 22.58% | 28.07% | — | 9.48% | 19.3 pp |
| FY 2025 Q4 | Dec 31, 2025 | 27.44% | 22.58% | 32.89% | — | 9.68% | 19.7 pp |
| FY 2025 Q3 | Sep 30, 2025 | 27.38% | 22.41% | -10.5% | — | 9.66% | 19.7 pp |
| FY 2025 Q2 | Jun 30, 2025 | 26.31% | 21.2% | -32.76% | — | 9.3% | 18.6 pp |
| FY 2025 Q1 | Mar 31, 2025 | 27.13% | 21.36% | -49.65% | — | 9.45% | 19.4 pp |
| FY 2024 Q4 | Dec 31, 2024 | 25.92% | 21.26% | -333.62% | — | 9.16% | 18.2 pp |
| FY 2024 Q3 | Sep 30, 2024 | 31.1% | 21.16% | 7.29% | — | 10.75% | 23.4 pp |
| FY 2024 Q2 | Jun 30, 2024 | 32.25% | 22.2% | 153.72% | — | 11.55% | 24.6 pp |
| FY 2024 Q1 | Mar 31, 2024 | 32.2% | 21.36% | 88.28% | — | 11.42% | 24.5 pp |
| FY 2023 Q4 | Dec 31, 2023 | 33.62% | 21.84% | 124.32% | — | 12.21% | 25.9 pp |
| FY 2023 Q3 | Sep 30, 2023 | 32.95% | 23.51% | 89.79% | 1,446.77% | 11.63% | 25.2 pp |
| FY 2023 Q2 | Jun 30, 2023 | 30.44% | 22.65% | 196.56% | 359.95% | 11.21% | 22.7 pp |
| FY 2023 Q1 | Mar 31, 2023 | 29.66% | 21% | 2,423.42% | 286.4% | 10.93% | 22 pp |
| FY 2022 Q4 | Dec 31, 2022 | 25.85% | 18.91% | — | 237.94% | 9.36% | 18.1 pp |
| FY 2022 Q3 | Sep 30, 2022 | 24.81% | 17.16% | — | 217.36% | 8.74% | 17.1 pp |
| FY 2022 Q2 | Jun 30, 2022 | 21.14% | 14.87% | — | 135.75% | 7.1% | 13.4 pp |
| FY 2022 Q1 | Mar 31, 2022 | 19.64% | 11.93% | — | 148.26% | 6% | 11.9 pp |
| FY 2021 Q4 | Dec 31, 2021 | 16.23% | 9.19% | — | 119.2% | 4.37% | 8.5 pp |
| FY 2021 Q3 | Sep 30, 2021 | — | 5.25% | — | 81.43% | 1.88% | — |
| FY 2021 Q2 | Jun 30, 2021 | — | 3.66% | — | 96.79% | 1.38% | — |
| FY 2021 Q1 | Mar 31, 2021 | — | 0.29% | — | -288.79% | -1.24% | — |
| FY 2020 Q4 | Dec 31, 2020 | — | 0.45% | — | -47.13% | -1.07% | — |
| FY 2020 Q3 | Sep 30, 2020 | — | 2.54% | — | 32.99% | 0.7% | — |
| FY 2020 Q2 | Jun 30, 2020 | 6.52% | 4.33% | — | 79.76% | 1.83% | -1.2 pp |
| FY 2020 Q1 | Mar 31, 2020 | 9.97% | 7.4% | — | 117.37% | 3.69% | 2.3 pp |
| FY 2019 Q4 | Dec 31, 2019 | 12.64% | 10.1% | -303.12% | 86.95% | 5.22% | 4.9 pp |
| FY 2019 Q3 | Sep 30, 2019 | 13.86% | 10.57% | 389.3% | 82.92% | 5.39% | 6.2 pp |
| FY 2019 Q2 | Jun 30, 2019 | 14.06% | 10.27% | — | 68.95% | 5.77% | 6.4 pp |
| FY 2019 Q1 | Mar 31, 2019 | 15.93% | 12.15% | — | 69.07% | 7.25% | 8.2 pp |
| FY 2018 Q4 | Dec 31, 2018 | 16.85% | 13.44% | — | 64.04% | 8.01% | 9.1 pp |
| FY 2018 Q3 | Sep 30, 2018 | 11.04% | 13.07% | — | 49.5% | 7.04% | 3.3 pp |
| FY 2018 Q2 | Jun 30, 2018 | 10.58% | 13.4% | — | 41.36% | 6.71% | 2.9 pp |
| FY 2018 Q1 | Mar 31, 2018 | 9.29% | 12.65% | — | 32.17% | 5.8% | 1.6 pp |
| FY 2017 Q4 | Dec 31, 2017 | 9.28% | 12.78% | — | 30.19% | 5.71% | 1.6 pp |
| FY 2017 Q3 | Sep 30, 2017 | 11.78% | 11.61% | — | 27.34% | 5.75% | 4.1 pp |
| FY 2017 Q2 | Jun 30, 2017 | 18.79% | 16.14% | 1.91% | 151.91% | 7.16% | 11.1 pp |
| FY 2017 Q1 | Mar 31, 2017 | 15.96% | 14.26% | 0.91% | 123.38% | 6.16% | 8.3 pp |
| FY 2016 Q4 | Dec 31, 2016 | 13.42% | 12.53% | -0.18% | 88.29% | 5.16% | 5.7 pp |
| FY 2016 Q3 | Sep 30, 2016 | 11.85% | 11.04% | -0.51% | 65.54% | 4.74% | 4.1 pp |
| FY 2016 Q2 | Jun 30, 2016 | 202.85% | 45.25% | — | — | 13.54% | 195.1 pp |
| FY 2016 Q1 | Mar 31, 2016 | 107.36% | 41.67% | — | — | 13.48% | 99.7 pp |
| FY 2015 Q4 | Dec 31, 2015 | 97.37% | 40.58% | — | — | 13.27% | 89.7 pp |
| FY 2015 Q3 | Sep 30, 2015 | 84.15% | 39.42% | — | — | 13.14% | 76.5 pp |
| FY 2015 Q2 | Jun 30, 2015 | 78.17% | 37.15% | — | — | 12.71% | 70.5 pp |
| FY 2015 Q1 | Mar 31, 2015 | 58.48% | 31.55% | — | — | 11.7% | 50.8 pp |
| FY 2014 Q4 | Dec 31, 2014 | 51.94% | 29.25% | — | — | 11.03% | 44.2 pp |
| FY 2014 Q3 | Sep 30, 2014 | 49.04% | 27.08% | — | — | 10.61% | 41.3 pp |
| FY 2014 Q2 | Jun 30, 2014 | 50.3% | 26.16% | 1,053.88% | — | 10.22% | 42.6 pp |
| FY 2014 Q1 | Mar 31, 2014 | 46.07% | 24.68% | — | — | 10.04% | 38.4 pp |
| FY 2013 Q4 | Dec 31, 2013 | 43.45% | 25.7% | 114.61% | — | 9.53% | 35.7 pp |
| FY 2013 Q3 | Sep 30, 2013 | 53.5% | 29.28% | 25.75% | — | 10.63% | 45.8 pp |
| FY 2013 Q2 | Jun 30, 2013 | 48.69% | 28.23% | 246.73% | — | 10.32% | 41 pp |
| FY 2013 Q1 | Mar 31, 2013 | 43.45% | 26.68% | 137.95% | — | 9.5% | 35.8 pp |
| FY 2012 Q4 | Dec 28, 2012 | 44.37% | 27.16% | 123.96% | — | 9.32% | 36.7 pp |
| FY 2012 Q3 | Sep 7, 2012 | 27.04% | 20.56% | — | — | — | 19.3 pp |
| FY 2012 Q2 | Jun 15, 2012 | 11.51% | 11.28% | — | 3,483.33% | 2.82% | 3.8 pp |
| FY 2012 Q1 | Mar 23, 2012 | 10.64% | 10.62% | — | 74.72% | 2.69% | 2.9 pp |
| FY 2011 Q4 | Dec 30, 2011 | 11.26% | 10.7% | — | 49.25% | 2.66% | 3.6 pp |
| FY 2011 Q3 | Sep 9, 2011 | 9.74% | 6.88% | — | 25.77% | 2.67% | 2 pp |
| FY 2011 Q2 | Jun 17, 2011 | 14.86% | 11.7% | — | 41.69% | 5.64% | 7.2 pp |
| FY 2011 Q1 | Mar 25, 2011 | — | 11.02% | — | — | 5.42% | — |
| FY 2010 Q4 | Dec 31, 2010 | 15.97% | 11.46% | — | 33.59% | 5.41% | 8.3 pp |
| FY 2010 Q3 | Sep 10, 2010 | — | 12.35% | — | 33.42% | 4.58% | — |
| FY 2010 Q2 | Jun 18, 2010 | — | 1.14% | — | -11.97% | -1.82% | — |
| FY 2010 Q1 | Mar 26, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Jan 1, 2010 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 11, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 19, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · MAR, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.