H World Group Limited ADR (HTHT) is slightly undervalued and Marriott International Inc (MAR) is overvalued.
Against our estimates of intrinsic value, HTHT trades at the wider discount: a margin of safety of +11%, against -36% for MAR.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 10.9% (average of 3 methods) values the shares at $48.85; the price of $43.33 is 11% below that value, and 71% of that value comes from beyond year five.
Leak Score 51/100 on 3 of 12 signals
Discounting its cash flows at 10.3% (average of 3 methods) values the shares at $256.77; the price of $348.06 is 36% above that value, and 73% of that value comes from beyond year five.
Leak Score 63/100 on 8 of 12 signals
| Metric | HTHT | MAR |
|---|---|---|
| Verdict | Slightly undervalued | Overvalued |
| Price | $43.33 | $348.06 |
| Intrinsic value | $48.85 | $256.77 |
| Margin of safety | +11% | -36% |
| Leak Score | 51/100 (3/12) | 63/100 (8/12) |
| Market cap | $13.3B | $90.8B |
| Revenue growth, 5 years | 19.0% | 19.9% |
| Operating margin | 27.3% | 15.7% |
| Net margin | 18.9% | 9.6% |
| Return on equity | 38.2% | — |
| Debt to equity | 2.43 | — |
| P/E | 19.6x | 36.1x |
| Forward P/E | 14.3x | 26.6x |
| P/B | 6.4x | — |
| Dividend yield | 4.8% | 0.8% |