$376.75
-0.056%Marriott International, Inc. operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through U.S. and Canada, and International segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St. Regis, EDITION, Bulgari, Marriott Hotels, Sheraton, Delta Hotels, Marriott Executive Apartments, Marriott Vacation Club, Westin, Renaissance, Le Mรฉridien, Autograph Collection, Gaylord Hotels, Tribute Portfolio, Design Hotels, Courtyard, Residence Inn, Fairfield by Marriott, SpringHill Suites, Four Points, TownePlace Suites, Aloft, AC Hotels by Marriott, Protea Hotels, Element, and Moxy brand names. As of February 15, 2022, it operated approximately 7,989 properties under 30 hotel brands in 139 countries and territories. Marriott International, Inc. was founded in 1927 and is headquartered in Bethesda, Maryland.
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.2B | $5.5B | $7.1B | $9.3B | $12.1B | $15.8B | $20.7B | $27.0B | $35.2B | $45.9B |
| Maintenance CapEx | -$157.6M | -$205.6M | -$268.3M | -$350.0M | -$456.6M | -$595.7M | -$777.2M | -$1.0B | -$1.3B | -$1.7B |
| Owner Earnings | $4.0B | $5.3B | $6.9B | $9.0B | $11.7B | $15.2B | $19.9B | $25.9B | $33.9B | $44.2B |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $3.7B | $4.5B | $5.4B | $6.6B | $8.0B | $9.6B | $11.6B | $14.0B | $16.9B | $20.5B |
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.