Filing Flows › Marriott International (MAR) › Q4 2025
Marriott International (MAR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 10, 2026
Marriott International (MAR) reported revenue of $6.7B for the fourth quarter 2025 (Q4 2025), +4% from a year earlier and +3% from the quarter before. Operating margin was 11.6%, net earnings $445M (6.7% of revenue).
Marriott International, Q4 2025: revenue $6.7B (+4% year over year), operating margin 11.6%, net earnings $445M, operating cash flow $829M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.7B | +3% | +4% |
| Operating profit | $777M | -34% | +3% |
| Net earnings | $445M | -39% | -2% |
| Operating cash flow | $829M | -24% | +161% |
| Free cash flow | $657M | -31% | — |
What changed
Revenue was $6.7B in Q4 2025, up 4% year over year and up 3% from the previous quarter. Reimbursements was the largest line at 73% of revenue.
Operating profit was $0.78B, a 11.6% margin (down 0.1 points year over year). Of the extra revenue versus a year earlier, 10% reached operating profit, below the 12% margin then. Total costs grew 4% against revenue growth of 4%. Net earnings were $0.45B, down 2% year over year. The effective tax rate was 23.5%.
Operating cash flow was $0.83B (up 161% year over year), 186% of net earnings. Non-cash charges added back $0.07B of share-based compensation. Working capital and other items added $0.32B. Capital expenditures of $0.17B left free cash flow of $0.66B.
Questions
What was Marriott International's revenue in the fourth quarter 2025?
Marriott International (MAR) reported revenue of $6.7B for the fourth quarter 2025 (Q4 2025), +4% from a year earlier and +3% from the quarter before.
Was Marriott International profitable in the fourth quarter 2025?
Operating profit was $777M (11.6% of revenue) and net earnings $445M.