MAR vs WH: Marriott International and Wyndham Hotels & Resorts compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Marriott International is the larger company, worth $102.1B, about 19.4 times Wyndham Hotels & Resorts.
- Marriott International grew revenue faster over the last year (+4.8% vs -5.5%).
- Wyndham Hotels & Resorts keeps more of each dollar of revenue as operating profit (30.3% vs 15.8%).
- On earnings, Wyndham Hotels & Resorts is the cheaper stock (28.0x vs 40.5x).
- Marriott International's price assumes faster free cash flow growth: about 14% a year, against 2% for Wyndham Hotels & Resorts (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | MAR | WH |
|---|---|---|
| Market cap | $102.1B | $5.3B |
| Share price | $365.88 | $74.06 |
| Revenue (last fiscal year) | $26.2B | $1.4B |
| Free cash flow (last fiscal year) | $2.6B | $321M |
| Revenue growth, last year | +4.8% | -5.5% |
| Revenue growth per year, last 5 fiscal years | +17.2% | +3.5% |
| Operating margin | 15.8% | 30.3% |
| Net margin | 9.6% | 14.7% |
| Return on equity | — | 43.3% |
| P/E (trailing) | 40.5x | 28.0x |
| Price / free cash flow | 39.1x | 16.4x |
| EV / EBITDA | 23.7x | 10.9x |
| FCF growth the price implies | 13.8% | 2.4% |
| Dividend yield | 0.69% | 2.3% |
| Debt / equity | — | 8.03x |
| Fundamental grade | D | C |
| Superinvestors holding it | 10 | 5 |
| Insider purchases, last 12 months | 3 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Marriott International
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $13.9B | $994M | 12.6% |
| 2022 | $20.8B | $2.0B | 16.7% |
| 2023 | $23.7B | $2.7B | 16.3% |
| 2024 | $25.1B | $2.0B | 15.0% |
| 2025 | $26.2B | $2.6B | 15.8% |
Wyndham Hotels & Resorts
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.2B | $389M | 35.8% |
| 2022 | $1.4B | $360M | 41.2% |
| 2023 | $1.4B | $339M | 36.3% |
| 2024 | $1.4B | $241M | 35.3% |
| 2025 | $1.4B | $321M | 28.1% |
Where the revenue comes from
Marriott International · by segments, 2025
U.S. & Canada$19.3B83%
EMEA$2.4B10%
APEC$1.1B5%
Greater China$590M3%
Wyndham Hotels & Resorts · by segments, 2022
Hotel Franchising$1.3B85%
Hotel Management$221M15%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open MAR in InvestinglyQuestions
Which is bigger, Marriott International or Wyndham Hotels & Resorts?
Marriott International (MAR), at $102.1B against $5.3B.
Is MAR or WH cheaper?
By trailing P/E, Wyndham Hotels & Resorts (28.0x) is cheaper than Marriott International (40.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, MAR or WH?
Marriott International: revenue grew +4.8% over the last year, against -5.5%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.