Filing Flows

Filing Flows › Companies › Marriott International › Cash flow

Marriott International cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$1.3B in Q3 2026 · $4.1B over twelve months

Operating cash flow$1.4B
Capital spending−$129M
Free cash flow+$1.3B
Cash / net income1.8×

Analysis

In Q3 2026, Marriott International generated $1.4B of operating cash flow and spent $129M on capital projects, leaving free cash flow of $1.3B. That is $353M more than in Q3 2025 ($951M).

Over the twelve months to Sep 30, 2026, operating cash flow was $4.1B; the largest uses were buybacks ($4.1B), dividends ($738M), other investing ($554M); besides operations, cash came from net borrowing (+) / repaid (−) ($1.1B), shares issued ($108M); the cash balance fell by $231M.

Operating cash flow was $1.4B against net income of $794M — 1.8× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$65.0M.

Free cash flow

Marriott International: free cash flow by quarterMarriott International: free cash flow by quarter−$24.0MQ4 2024$512MQ1 2025$488MQ2 2025$951MQ3 2025$829MQ4 2025$728MQ1 2026$796MQ2 2026$1.3BQ3 2026
Operating cash flow less capital spending.
Marriott International: operating cash flow against capital spendingMarriott International: operating cash flow against capital spendingOperating cash flowCapital spending$318M$342MQ4 2024$647M$135MQ1 2025$643M$155MQ2 2025$1.1B$142MQ3 2025$829M$0Q4 2025$858M$130MQ1 2026$948M$152MQ2 2026$1.4B$129MQ3 2026
Latest (Q3 2026): Operating cash flow $1.4B, Capital spending $129M.

Capital allocation, year by year

Marriott International: where the cash came from (up) and went (down), by fiscal yearMarriott International: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $1.2BFY2021: Net borrowing −$381MFY2021: Shares issued $2.0MFY2021: Asset sales $12.0MFY2021: Capital spending −$183M$1.2BFY2021FY2022: Operating cash flow $2.4BFY2022: Asset sales $1.0MFY2022: Capital spending −$332MFY2022: Buybacks −$2.6BFY2022: Dividends −$321M$2.4BFY2022FY2023: Operating cash flow $3.2BFY2023: Net borrowing $1.2BFY2023: Shares issued $29.0MFY2023: Asset sales $71.0MFY2023: Capital spending −$452MFY2023: Buybacks −$4.0BFY2023: Dividends −$587M$4.5BFY2023FY2024: Operating cash flow $2.7BFY2024: Net borrowing $2.4BFY2024: Shares issued $73.0MFY2024: Asset sales $16.0MFY2024: Capital spending −$750MFY2024: Buybacks −$3.8BFY2024: Dividends −$682M$5.2BFY2024FY2025: Operating cash flow $3.2BFY2025: Net borrowing $2.1BFY2025: Shares issued $92.0MFY2025: Asset sales $9.0MFY2025: Capital spending −$604MFY2025: Buybacks −$3.3BFY2025: Dividends −$718M$5.4BFY2025
Over these 5 years operating cash flow totalled $12.7B; the largest uses were buybacks ($13.6B) and capital spending ($2.3B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$453M
Debt$23.0M
Net cash$430M
Due within a year$1.2B

Marriott International funds itself: free cash flow was $4.1B over the last twelve months, and $453M of cash and investments stands against $23.0M of debt ($1.2B due within a year, 0.4× covered by cash).

Marriott International: debt maturities by year (FY2025)Marriott International: debt maturities by year (FY2025)$1.2BYear 1$2.6BYear 2$1.5BYear 3$1.3BYear 4$1.5BYear 5$8.2BAfter year 5
Principal due in each year as disclosed in the annual report, against $453M of cash and investments now.

Where the cash came from and went

Marriott International: sources (+) and uses (−) of cash, Q3 2026Marriott International: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$1.4BBuybacks−$1.3BNet borrowing (+) / repaid (−)$781MOther financing−$719MDividends−$189MCapital spending−$129MShares issued$55.0MOther investing$19.0MCash drawn (+) / kept (−)$9.0MAsset & business sales$3.0MTaxes on employees’ shares−$1.0M
Marriott International: sources (+) and uses (−) of cash, TTM to Q3 2026Marriott International: sources (+) and uses (−) of cash, TTM to Q3 2026Buybacks−$4.1BOperating cash flow$4.1BNet borrowing (+) / repaid (−)$1.1BDividends−$738MOther investing−$554MCash drawn (+) / kept (−)$231MTaxes on employees’ shares−$132MShares issued$108MOther financing−$97.0MAsset & business sales$96.0M

From profit to cash

Marriott International: net income to operating cash flow, Q3 2026Marriott International: net income to operating cash flow, Q3 2026Net income$794MStock-based pay$65.0MOperating cash flow$1.4B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$1.4B−$129M−$1.3B−$189M$781M$55.0M$9.0M$1.3B
Q2 2026$948M−$152M−$1.1B−$192M−$752M—−$4.0M$796M
Q1 2026$858M−$130M−$700M−$178M$1.4B$53.0M−$97.0M$728M
Q4 2025$829M—−$1.0B−$179M−$352M—$323M$829M
Q3 2025$1.1B−$142M−$800M−$182M$1.5B$47.0M−$2.0M$951M
Q2 2025$643M−$155M−$749M−$183M−$602M—−$146M$488M
Q1 2025$647M−$135M−$751M−$174M$1.6B$45.0M−$121M$512M
Q4 2024$318M−$342M−$586M−$176M−$2.0M—−$9.0M−$24.0M

Marriott International: income statement and cash flow

Marriott International, Q3 2026: revenue $7.0B (+8% year over year), operating margin 18.2%. The chart follows the revenue to costs, profit and cash.

Marriott International: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.