Marriott International vs Royal Caribbean
Marriott International is the larger business, with $26.19bn of revenue in fiscal 2025 against $17.93bn for Royal Caribbean (1.5 times as much). Royal Caribbean grew faster (8.8% against 4.3%). Royal Caribbean kept more of each dollar of sales as profit: a net margin of 23.8% against 9.9%.
| Latest fiscal year | Marriott InternationalMAR, 2025 | Royal CaribbeanRCL, 2025 |
|---|---|---|
| Revenue | $26.19bn | $17.93bn |
| Revenue growth | 4.3% | 8.8% |
| Net income | $2.60bn | $4.27bn |
| Operating margin | 15.8% | — |
| Net margin | 9.9% | 23.8% |
| Return on equity | — | 48.5% |
| Free cash flow | $2.61bn | $1.24bn |
| Cash | $358m | $825m |
| Total debt | $16.20bn | $21.34bn |
| Debt to equity | — | — |
| Dividend per share | $2.64 | $3.50 |
| Dividend yield | 0.7% | 1.6% |
| Share buybacks | $3.30bn | $1.16bn |
| Employees | — | 108,000 |
| Market value | $108.54bn | $84.03bn |
| Price vs our value range | Above our value range | Above our value range |
| Moat score | 67 (Moderate) | 52 (Moderate) |
| Insider trades, 12 months | 0 buys, 25 sales | 0 buys, 125 sales |