Marriott Vacations Worldwide (VAC) Financials

$58.48 -1.13 (-1.89%)

Closing price 03:59 PM Eastern

Extended Trading

$58.00 -0.48 (-0.83%)

As of 05:23 PM Eastern

Annual Income Statements for Marriott Vacations Worldwide

This table shows Marriott Vacations Worldwide's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	1/2/2015	1/1/2016	12/30/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	81	123	122	235	55	138	-275	49	391	254	218
Consolidated Net Income / (Loss)	81	123	122	235	52	142	-256	53	391	252	217
Net Income / (Loss) Continuing Operations	81	123	122	235	52	142	-256	53	391	252	217
Total Pre-Tax Income	151	206	198	240	103	225	-340	127	582	398	306
Total Operating Income	156	218	200	245	267	458	-98	340	659	499	472
Total Gross Profit	1,105	1,167	1,478	1,621	2,168	3,006	1,940	2,775	3,541	3,609	3,804
Total Revenue	1,716	1,811	2,000	2,183	2,968	4,259	2,886	3,890	4,656	4,727	4,967
Operating Revenue	1,716	1,811	2,000	2,183	2,968	4,259	2,886	3,890	4,656	4,727	4,967
Total Cost of Revenue	612	644	522	562	800	1,253	946	1,115	1,115	1,118	1,163
Operating Cost of Revenue	612	644	522	562	800	1,253	946	1,115	1,115	1,118	1,163
Total Operating Expenses	948	949	1,278	1,376	1,901	2,548	2,038	2,435	2,882	3,110	3,332
Selling, General & Admin Expense	101	106	100	106	198	248	154	227	249	273	243
Marketing Expense	315	331	334	388	527	748	386	617	807	823	919
Depreciation Expense	-	-	21	21	62	141	123	146	132	135	146
Other Operating Expenses / (Income)	511	512	824	856	1,068	1,305	1,244	1,322	1,556	1,791	1,949
Impairment Charge	1.38	0.32	-	0.00	0.00	99	100	3.00	2.00	32	30
Restructuring Charge	-	-	0.00	-	0.00	-	25	110	125	43	28
Other Special Charges / (Income)	19	-0.23	-1.00	4.00	46	7.00	6.00	10	11	13	17
Total Other Income / (Expense), net	-5.91	-12	-2.00	-6.00	-164	-233	-242	-213	-77	-101	-166
Interest & Investment Income	-12	-13	-9.00	-10	-54	-132	-150	-164	-118	-145	-162
Other Income / (Expense), net	5.79	1.30	7.00	4.00	-110	-101	-92	-49	41	44	-4.00
Income Tax Expense	70	84	76	5.00	51	83	-84	74	191	146	89
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	0.00	0.00	-3.00	4.00	19	4.00	0.00	-2.00	-1.00
Basic Earnings per Share	$2.40	$3.90	$4.37	$8.70	$1.64	$3.13	($6.65)	$1.15	$9.69	$6.96	$6.16
Weighted Average Basic Shares Outstanding	33.67M	31.50M	31.40M	27.08M	45.21M	41.39M	41.20M	42.10M	37.24M	35.18M	34.91M
Diluted Earnings per Share	$2.33	$3.82	$4.29	$8.49	$1.61	$3.09	($6.65)	$1.13	$8.77	$6.28	$5.61
Weighted Average Diluted Shares Outstanding	34.64M	31.50M	31.40M	27.08M	45.21M	41.39M	41.20M	42.10M	37.24M	35.18M	34.91M
Weighted Average Basic & Diluted Shares Outstanding	33.60M	31.50M	31.40M	27.08M	45.21M	41.39M	41.20M	42.10M	37.24M	35.18M	34.91M
Cash Dividends to Common per Share	$0.25	$1.05	$1.25	$1.45	$1.65	$1.89	$0.54	$1.08	$2.58	$2.92	$3.07

This table shows Marriott Vacations Worldwide's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	109	88	87	90	42	35	47	37	84	50
Consolidated Net Income / (Loss)	110	88	87	90	42	33	46	38	84	49
Net Income / (Loss) Continuing Operations	110	88	87	90	42	33	46	38	84	49
Total Pre-Tax Income	169	145	128	140	66	64	81	48	118	59
Total Operating Income	240	71	141	165	100	93	122	99	148	103
Total Gross Profit	949	913	891	890	902	926	919	872	1,015	998
Total Revenue	1,252	1,188	1,169	1,178	1,186	1,194	1,195	1,140	1,305	1,327
Operating Revenue	1,252	1,188	1,169	1,178	1,186	1,194	1,195	1,140	1,305	1,327
Total Cost of Revenue	303	275	278	288	284	268	276	268	290	329
Operating Cost of Revenue	303	275	278	288	284	268	276	268	290	329
Total Operating Expenses	709	842	750	725	802	833	797	773	867	895
Selling, General & Admin Expense	62	62	68	64	57	84	63	54	62	64
Marketing Expense	207	204	210	206	202	205	223	226	228	242
Depreciation Expense	33	34	32	34	33	36	38	35	36	37
Other Operating Expenses / (Income)	404	412	420	409	503	459	453	442	538	516
Impairment Charge	1.00	1.00	4.00	0.00	0.00	28	0.00	2.00	0.00	28
Restructuring Charge	-	-	13	10	5.00	15	17	4.00	1.00	6.00
Other Special Charges / (Income)	2.00	4.00	3.00	2.00	2.00	6.00	3.00	10	2.00	2.00
Total Other Income / (Expense), net	-71	74	-13	-25	-34	-29	-41	-51	-30	-44
Interest & Investment Income	-34	-27	-34	-36	-36	-39	-40	-43	-40	-39
Other Income / (Expense), net	-37	101	21	11	2.00	10	-1.00	-8.00	10	-5.00
Income Tax Expense	59	57	41	50	24	31	35	10	34	10
Net Income / (Loss) Attributable to Noncontrolling Interest	1.00	-	0.00	0.00	0.00	-2.00	-1.00	1.00	0.00	-1.00
Basic Earnings per Share	$2.76	$2.27	$2.32	$2.46	$1.16	$1.02	$1.32	$1.04	$2.38	$1.42
Weighted Average Basic Shares Outstanding	38.32M	37.24M	36.81M	36.47M	35.52M	35.18M	35.16M	35.06M	34.91M	34.91M
Diluted Earnings per Share	$2.53	$2.04	$2.06	$2.17	$1.09	$0.96	$1.22	$0.98	$2.12	$1.29
Weighted Average Diluted Shares Outstanding	38.32M	37.24M	36.81M	36.47M	35.52M	35.18M	35.16M	35.06M	34.91M	34.91M
Weighted Average Basic & Diluted Shares Outstanding	38.32M	37.24M	36.81M	36.47M	35.52M	35.18M	35.16M	35.06M	34.91M	34.91M
Cash Dividends to Common per Share	$0.62	$0.72	$0.72	$0.72	$0.72	$0.76	$0.76	$0.76	$0.76	$0.79

This table details how cash moves in and out of Marriott Vacations Worldwide's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	1/2/2015	1/1/2016	12/30/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	147	-208	-36	278	123	87	291	-189	51	-280	-46
Net Cash From Operating Activities	291	118	141	142	97	382	299	343	522	232	205
Net Cash From Continuing Operating Activities	291	118	141	142	97	382	299	340	522	232	205
Net Income / (Loss) Continuing Operations	81	123	122	235	52	142	-256	53	391	252	217
Consolidated Net Income / (Loss)	81	123	122	235	52	142	-256	53	391	252	217
Depreciation Expense	19	22	-	-	-	-	-	146	132	135	146
Amortization Expense	5.46	5.59	27	31	78	160	145	56	25	23	26
Non-Cash Adjustments To Reconcile Net Income	102	-65	-10	-212	-146	-113	464	-56	-179	-163	-45
Changes in Operating Assets and Liabilities, net	84	33	2.00	88	113	193	-54	141	153	-15	-139
Net Cash From Investing Activities	43	-63	34	-38	-1,407	37	-32	-213	16	-112	-115
Net Cash From Continuing Investing Activities	43	-63	34	-38	-1,407	37	-32	-213	16	-112	-115
Purchase of Property, Plant & Equipment	-15	-36	-35	-26	-40	-46	-41	-47	-65	-118	-57
Acquisitions	-	-	0.00	0.00	-1,393	0.00	0.00	-157	94	0.00	0.00
Sale of Property, Plant & Equipment	82	21	69	-	0.00	51	15	3.00	3.00	16	8.00
Sale and/or Maturity of Investments	-	-	-	0.00	0.00	38	-	0.00	47	0.00	0.00
Other Investing Activities, net	-24	-48	0.00	-12	-14	-6.00	-6.00	-12	-63	-10	-66
Net Cash From Financing Activities	-186	-259	-206	171	1,433	-331	23	-317	-486	-401	-132
Net Cash From Continuing Financing Activities	-186	-259	-206	171	1,433	-331	23	-317	-486	-401	-132
Repayment of Debt	-236	-283	-412	-396	-631	-1,719	-1,679	-2,229	-1,895	-2,564	-3,414
Repurchase of Common Equity	-212	-212	-182	-99	-114	-480	-98	-98	-724	-298	-64
Payment of Dividends	-8.18	-24	-34	-38	-51	-81	-45	-23	-99	-106	-107
Issuance of Debt	263	255	462	717	2,229	1,961	1,856	2,068	2,297	2,562	3,459
Issuance of Common Equity	-	0.00	0.00	20	-	0.00	0.00	70	43	0.00	0.00
Other Financing Activities, net	7.50	5.38	0.00	-33	0.00	-12	-11	-105	-108	5.00	-6.00
Other Net Changes in Cash	-	-	-5.00	3.00	-	-1.00	-	-2.00	-1.00	1.00	-4.00
Cash Interest Paid	-	-	23	22	55	167	176	184	149	204	247
Cash Income Taxes Paid	-	-	48	49	41	53	-32	-13	57	141	133

This table details how cash moves in and out of Marriott Vacations Worldwide's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	-63	311	-280	-94	23	71	-24	-93	90	-19
Net Cash From Operating Activities	162	142	-50	77	122	83	3.00	30	72	100
Net Cash From Continuing Operating Activities	162	142	-50	77	122	83	3.00	30	72	100
Net Income / (Loss) Continuing Operations	110	88	87	90	42	33	46	38	84	49
Consolidated Net Income / (Loss)	110	88	87	90	42	33	46	38	84	49
Depreciation Expense	33	34	32	34	33	36	38	35	36	37
Amortization Expense	10	5.00	7.00	5.00	5.00	6.00	5.00	10	5.00	6.00
Non-Cash Adjustments To Reconcile Net Income	-67	27	83	-160	-37	-49	148	18	-185	-26
Changes in Operating Assets and Liabilities, net	76	-12	-259	108	79	57	-234	-71	132	34
Net Cash From Investing Activities	34	-33	-37	-16	-32	-27	-69	-19	-18	-9.00
Net Cash From Continuing Investing Activities	34	-33	-37	-16	-32	-27	-69	-19	-18	-9.00
Purchase of Property, Plant & Equipment	-13	-29	-37	-26	-29	-26	-16	-13	-14	-14
Sale of Property, Plant & Equipment	2.00	-2.00	-	-	1.00	1.00	-	-	-	8.00
Other Investing Activities, net	-3.00	-2.00	0.00	-4.00	-4.00	-2.00	-53	-6.00	-4.00	-3.00
Net Cash From Financing Activities	-257	199	-194	-155	-65	13	43	-102	33	-106
Net Cash From Continuing Financing Activities	-257	199	-194	-155	-65	13	43	-102	33	-106
Repayment of Debt	-551	-725	-635	-728	-427	-774	-736	-1,290	-739	-649
Repurchase of Common Equity	-217	-173	-89	-83	-86	-40	-29	-13	-9.00	-13
Payment of Dividends	-	-24	-54	-26	-	-26	-54	-27	-	-26
Issuance of Debt	512	1,183	576	682	448	856	864	1,229	782	584
Other Financing Activities, net	-1.00	-105	8.00	-	-	-3.00	-2.00	-1.00	-1.00	-2.00
Cash Interest Paid	35	45	44	55	42	63	52	71	56	68
Cash Income Taxes Paid	18	6.00	56	77	5.00	3.00	50	64	8.00	11

This table presents Marriott Vacations Worldwide's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	1/2/2015	1/1/2016	12/30/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	2,531	2,400	2,391	2,845	9,018	9,214	8,898	9,613	9,639	9,680	9,808
Total Current Assets	1,374	1,169	1,185	1,698	3,840	2,934	2,832	2,848	3,052	2,917	2,968
Cash & Equivalents	347	177	147	409	231	287	524	342	524	248	197
Restricted Cash	110	71	66	82	383	414	468	461	330	326	331
Note & Lease Receivable	917	921	972	1,115	2,039	2,233	1,840	2,045	2,198	2,343	2,440
Plant, Property, & Equipment, net	147	289	203	583	951	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	1,010	942	1,003	564	4,227	6,280	6,066	6,765	6,587	6,763	6,840
Goodwill	-	-	-	0.00	2,828	2,892	2,817	3,150	3,117	3,117	3,117
Intangible Assets	-	-	-	0.00	1,107	1,027	952	993	911	854	790
Other Noncurrent Operating Assets	1,010	942	1,003	564	292	2,361	2,297	2,622	2,559	2,792	2,933
Total Liabilities & Shareholders' Equity	2,531	2,400	2,391	2,845	9,018	9,214	8,898	9,613	9,639	9,680	9,808
Total Liabilities	1,451	1,423	1,484	1,804	5,552	6,183	6,216	6,627	7,141	7,298	7,367
Total Current Liabilities	472	534	518	377	757	869	715	811	976	910	947
Accounts Payable	114	139	124	145	301	286	209	265	356	362	343
Accrued Expenses	166	164	147	120	246	397	349	345	369	343	384
Other Current Liabilities	93	104	96	112	210	186	157	201	251	205	220
Total Noncurrent Liabilities	979	889	965	1,427	4,795	5,314	5,501	5,816	6,165	6,388	6,420
Long-Term Debt	703	679	737	1,095	3,818	4,087	4,268	4,487	5,026	5,145	5,225
Noncurrent Deferred Revenue	-	-	-	-	383	433	488	453	344	382	354
Noncurrent Deferred & Payable Income Tax Liabilities	79	109	149	90	318	300	274	350	331	280	345
Noncurrent Employee Benefit Liabilities	42	51	63	75	93	110	127	142	139	168	195
Other Noncurrent Operating Liabilities	155	50	16	167	183	384	344	384	325	413	301
Total Equity & Noncontrolling Interests	1,080	976	908	1,041	3,466	3,031	2,682	2,986	2,498	2,382	2,441
Total Preferred & Common Equity	1,080	976	908	1,041	3,461	3,019	2,651	2,976	2,496	2,382	2,442
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,080	976	908	1,041	3,461	3,019	2,651	2,976	2,496	2,382	2,442
Common Stock	1,138	1,151	1,163	1,189	3,722	3,739	3,761	4,073	3,942	3,956	3,976
Retained Earnings	154	244	346	529	523	569	272	275	593	742	852
Treasury Stock	-229	-430	-607	-694	-790	-1,253	-1,334	-1,356	-2,054	-2,332	-2,378
Accumulated Other Comprehensive Income / (Loss)	17	11	5.46	17	6.00	-36	-48	-16	15	16	-8.00
Other Equity Adjustments	-	-	-	-	-	0.00	0.00	-	-	0.00	0.00
Noncontrolling Interest	-	-	-	0.00	5.00	12	31	10	2.00	0.00	-1.00

This table presents Marriott Vacations Worldwide's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	9,237	9,602	9,482	9,453	9,867	9,611	9,740
Total Current Assets	2,685	2,794	2,752	2,794	2,886	2,765	2,934
Cash & Equivalents	294	306	242	265	237	206	197
Restricted Cash	249	268	238	238	313	251	350
Note & Lease Receivable	2,142	2,220	2,272	2,291	2,336	2,308	2,387
Plant, Property, & Equipment, net	1,136	0.00	0.00	1,250	1,299	0.00	1,165
Total Noncurrent Assets	5,416	6,808	6,730	5,409	5,682	6,846	5,641
Goodwill	3,117	3,117	3,117	3,117	3,117	3,117	3,117
Intangible Assets	924	898	884	868	839	822	807
Other Noncurrent Operating Assets	1,375	2,793	2,729	1,424	1,726	2,907	1,717
Total Liabilities & Shareholders' Equity	9,237	9,602	9,482	9,453	9,867	9,611	9,740
Total Liabilities	6,609	7,122	7,004	7,043	7,489	7,239	7,321
Total Current Liabilities	811	762	705	790	814	732	830
Accounts Payable	221	222	209	238	221	198	243
Accrued Expenses	342	334	322	359	384	371	384
Other Current Liabilities	248	206	174	193	209	163	203
Total Noncurrent Liabilities	5,798	6,360	6,299	6,253	6,675	6,507	6,491
Long-Term Debt	4,558	5,065	5,029	5,057	5,289	5,235	5,286
Noncurrent Deferred Revenue	346	448	417	371	482	418	350
Noncurrent Deferred & Payable Income Tax Liabilities	374	339	344	335	328	370	372
Noncurrent Employee Benefit Liabilities	130	147	154	156	173	179	191
Other Noncurrent Operating Liabilities	390	361	355	334	403	305	292
Total Equity & Noncontrolling Interests	2,628	2,480	2,478	2,410	2,378	2,372	2,419
Total Preferred & Common Equity	2,626	2,478	2,476	2,408	2,379	2,372	2,419
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,626	2,478	2,476	2,408	2,379	2,372	2,419
Common Stock	3,969	3,938	3,948	3,954	3,952	3,960	3,970
Retained Earnings	533	654	718	734	763	773	830
Treasury Stock	-1,882	-2,132	-2,213	-2,298	-2,351	-2,362	-2,370
Accumulated Other Comprehensive Income / (Loss)	6.00	18	23	18	15	1.00	-11
Other Equity Adjustments	0.00	0.00	-	0.00	0.00	0.00	0.00
Noncontrolling Interest	2.00	2.00	2.00	2.00	-1.00	0.00	0.00

This table displays calculated financial ratios and metrics derived from Marriott Vacations Worldwide's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	1/2/2015	1/1/2016	12/30/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.92%	5.52%	10.45%	9.15%	35.96%	43.50%	-32.24%	34.79%	19.69%	1.52%	5.08%
EBITDA Growth	7.76%	32.55%	-5.31%	19.66%	-16.07%	120.00%	-108.70%	1,195.56%	73.83%	-18.20%	-8.70%
EBIT Growth	12.04%	35.14%	-5.61%	20.29%	-36.95%	127.39%	-153.22%	253.16%	140.55%	-22.43%	-13.81%
NOPAT Growth	-4.04%	54.48%	-4.94%	94.67%	-43.81%	114.43%	-123.73%	306.84%	212.02%	-28.64%	5.94%
Net Income Growth	1.29%	52.06%	-0.65%	92.62%	-77.87%	173.08%	-280.28%	120.70%	637.74%	-35.55%	-13.89%
EPS Growth	6.88%	63.95%	12.30%	97.90%	-81.04%	91.93%	-315.21%	116.99%	676.11%	-28.39%	-10.67%
Operating Cash Flow Growth	81.28%	-59.37%	19.07%	0.71%	-31.69%	293.81%	-21.73%	14.72%	52.19%	-55.56%	-11.64%
Free Cash Flow Firm Growth	170.75%	-86.23%	98.11%	-72.57%	-18,321.99%	111.08%	-27.98%	-246.03%	177.66%	-92.56%	354.39%
Invested Capital Growth	-17.16%	6.05%	1.81%	14.88%	305.47%	-3.79%	-7.15%	11.95%	0.00%	4.24%	2.66%
Revenue Q/Q Growth	-2.03%	1.96%	13.00%	-8.15%	19.76%	1.53%	-11.34%	9.98%	1.93%	0.13%	2.75%
EBITDA Q/Q Growth	-0.65%	19.88%	-1.22%	-2.17%	73.44%	27.65%	-145.45%	2.49%	53.86%	-8.61%	-0.62%
EBIT Q/Q Growth	-0.17%	20.93%	-0.50%	3.32%	37.13%	9.85%	-201.59%	46.23%	10.41%	-11.27%	-1.06%
NOPAT Q/Q Growth	-8.68%	38.93%	-0.69%	59.00%	-58.82%	24.73%	-351.28%	141.90%	-3.57%	3.35%	12.10%
Net Income Q/Q Growth	-6.09%	36.22%	1.10%	56.09%	-59.98%	32.71%	-71.81%	243.24%	8.01%	-17.92%	7.96%
EPS Q/Q Growth	-4.51%	36.92%	4.13%	56.93%	-67.47%	29.83%	-63.79%	194.17%	7.48%	-14.67%	6.25%
Operating Cash Flow Q/Q Growth	19.32%	-36.22%	29.86%	17.24%	-29.71%	81.90%	-16.94%	-22.75%	24.29%	-20.27%	9.04%
Free Cash Flow Firm Q/Q Growth	42.93%	-73.74%	-7.65%	138.67%	-3.83%	98.74%	-27.48%	52.40%	-41.83%	315.61%	43.15%
Invested Capital Q/Q Growth	-8.97%	3.25%	3.73%	2.77%	0.48%	-2.73%	-2.10%	-3.96%	0.41%	-0.16%	-0.28%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	64.37%	64.43%	73.90%	74.26%	73.05%	70.58%	67.22%	71.34%	76.05%	76.35%	76.59%
EBITDA Margin	10.86%	13.65%	11.70%	12.83%	7.92%	12.14%	-1.56%	12.67%	18.41%	14.83%	12.89%
Operating Margin	9.12%	12.04%	10.00%	11.22%	9.00%	10.75%	-3.40%	8.74%	14.15%	10.56%	9.50%
EBIT Margin	9.46%	12.11%	10.35%	11.41%	5.29%	8.38%	-6.58%	7.48%	15.03%	11.49%	9.42%
Profit (Net Income) Margin	4.71%	6.78%	6.10%	10.77%	1.75%	3.33%	-8.87%	1.36%	8.40%	5.33%	4.37%
Tax Burden Percent	53.63%	59.47%	61.62%	97.92%	50.49%	63.11%	75.29%	41.73%	67.18%	63.32%	70.92%
Interest Burden Percent	92.80%	94.16%	95.65%	96.39%	65.61%	63.03%	178.95%	43.64%	83.14%	73.30%	65.38%
Effective Tax Rate	46.37%	40.53%	38.38%	2.08%	49.51%	36.89%	0.00%	58.27%	32.82%	36.68%	29.09%
Return on Invested Capital (ROIC)	5.73%	9.49%	8.68%	15.59%	3.24%	4.42%	-1.11%	2.25%	6.64%	4.64%	4.75%
ROIC Less NNEP Spread (ROIC-NNEP)	4.74%	7.47%	8.42%	14.73%	-1.11%	-0.05%	-6.73%	-0.31%	5.32%	3.18%	2.21%
Return on Net Nonoperating Assets (RNNOA)	1.32%	2.46%	4.27%	8.52%	-0.93%	-0.05%	-7.85%	-0.38%	7.62%	5.69%	4.25%
Return on Equity (ROE)	7.06%	11.95%	12.95%	24.12%	2.31%	4.37%	-8.96%	1.87%	14.26%	10.33%	9.00%
Cash Return on Invested Capital (CROIC)	24.50%	3.61%	6.89%	1.74%	-117.62%	8.28%	6.31%	-9.03%	6.64%	0.48%	2.13%
Operating Return on Assets (OROA)	6.29%	8.90%	8.64%	9.51%	2.65%	3.92%	-2.10%	3.14%	7.27%	5.62%	4.80%
Return on Assets (ROA)	3.13%	4.98%	5.09%	8.98%	0.88%	1.56%	-2.83%	0.57%	4.06%	2.61%	2.23%
Return on Common Equity (ROCE)	7.06%	11.95%	12.95%	24.12%	2.31%	4.36%	-8.89%	1.86%	14.23%	10.32%	9.00%
Return on Equity Simple (ROE_SIMPLE)	7.48%	12.58%	13.44%	22.57%	1.50%	4.70%	-9.66%	1.78%	15.67%	10.58%	8.89%
Net Operating Profit after Tax (NOPAT)	84	130	123	240	135	289	-69	142	443	316	335
NOPAT Margin	4.89%	7.16%	6.16%	10.99%	4.54%	6.79%	-2.38%	3.65%	9.51%	6.68%	6.74%
Net Nonoperating Expense Percent (NNEP)	0.99%	2.02%	0.26%	0.87%	4.35%	4.46%	5.63%	2.55%	1.32%	1.46%	2.54%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	5.88%	4.20%	4.37%
Cost of Revenue to Revenue	35.64%	35.57%	26.10%	25.74%	26.95%	29.42%	32.78%	28.66%	23.95%	23.65%	23.41%
SG&A Expenses to Revenue	5.88%	5.86%	5.00%	4.86%	6.67%	5.82%	5.34%	5.84%	5.35%	5.78%	4.89%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	55.25%	52.39%	63.90%	63.03%	64.05%	59.83%	70.62%	62.60%	61.90%	65.79%	67.08%
Earnings before Interest and Taxes (EBIT)	162	219	207	249	157	357	-190	291	700	543	468
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	186	247	234	280	235	517	-45	493	857	701	640
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.93	1.58	2.24	3.09	0.88	1.67	1.99	2.28	1.94	1.22	1.28
Price to Tangible Book Value (P/TBV)	1.93	1.58	2.24	3.09	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.21	0.85	1.02	1.47	1.02	1.18	1.82	1.74	1.04	0.62	0.63
Price to Earnings (P/E)	25.75	12.54	16.65	13.70	55.07	36.46	0.00	138.22	12.40	11.45	14.38
Dividend Yield	0.39%	2.12%	1.66%	1.19%	2.56%	1.58%	1.54%	0.68%	2.04%	3.56%	3.42%
Earnings Yield	3.88%	7.97%	6.01%	7.30%	1.82%	2.74%	0.00%	0.72%	8.07%	8.73%	6.95%
Enterprise Value to Invested Capital (EV/IC)	1.75	1.40	1.78	2.32	0.94	1.31	1.44	1.57	1.35	1.08	1.10
Enterprise Value to Revenue (EV/Rev)	1.36	1.09	1.28	1.75	2.10	1.98	2.97	2.69	1.94	1.58	1.58
Enterprise Value to EBITDA (EV/EBITDA)	12.48	7.97	10.92	13.66	26.54	16.31	0.00	21.23	10.53	10.67	12.24
Enterprise Value to EBIT (EV/EBIT)	14.33	8.98	12.35	15.36	39.73	23.61	0.00	35.97	12.89	13.78	16.73
Enterprise Value to NOPAT (EV/NOPAT)	27.72	15.20	20.74	15.94	46.28	29.16	0.00	73.77	20.38	23.68	23.40
Enterprise Value to Operating Cash Flow (EV/OCF)	7.98	16.64	18.13	26.93	64.31	22.07	28.67	30.52	17.28	32.24	38.20
Enterprise Value to Free Cash Flow (EV/FCFF)	6.49	39.90	26.12	142.47	0.00	15.55	21.96	0.00	20.38	227.03	52.30
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.65	0.70	0.81	1.05	1.10	1.35	1.59	1.50	2.01	2.16	2.14
Long-Term Debt to Equity	0.65	0.70	0.81	1.05	1.10	1.35	1.59	1.50	2.01	2.16	2.14
Financial Leverage	0.28	0.33	0.51	0.58	0.84	1.01	1.17	1.23	1.43	1.79	1.92
Leverage Ratio	2.26	2.40	2.54	2.69	2.63	2.81	3.17	3.27	3.51	3.96	4.04
Compound Leverage Factor	2.09	2.26	2.43	2.59	1.73	1.77	5.67	1.43	2.92	2.90	2.64
Debt to Total Capital	39.43%	41.01%	44.81%	51.26%	52.42%	57.42%	61.41%	60.04%	66.80%	68.35%	68.16%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	39.43%	41.01%	44.81%	51.26%	52.42%	57.42%	61.41%	60.04%	66.80%	68.35%	68.16%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.07%	0.17%	0.45%	0.13%	0.03%	0.00%	-0.01%
Common Equity to Total Capital	60.57%	58.99%	55.19%	48.74%	47.52%	42.41%	38.14%	39.82%	33.17%	31.65%	31.85%
Debt to EBITDA	3.77	2.75	3.15	3.91	16.25	7.91	-94.84	9.10	5.86	7.34	8.16
Net Debt to EBITDA	1.32	1.74	2.24	2.16	13.63	6.55	-72.80	7.47	4.87	6.52	7.34
Long-Term Debt to EBITDA	3.77	2.75	3.15	3.91	16.25	7.91	-94.84	9.10	5.86	7.34	8.16
Debt to NOPAT	8.38	5.24	5.98	4.56	28.32	14.14	-62.22	31.62	11.35	16.28	15.61
Net Debt to NOPAT	2.94	3.32	4.25	2.52	23.77	11.71	-47.76	25.96	9.42	14.47	14.03
Long-Term Debt to NOPAT	8.38	5.24	5.98	4.56	28.32	14.14	-62.22	31.62	11.35	16.28	15.61
Altman Z-Score	2.26	2.17	2.48	2.94	1.21	1.43	1.09	1.41	1.47	1.27	1.29
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.11%	0.26%	0.75%	0.72%	0.22%	0.04%	-0.02%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.91	2.19	2.29	4.50	5.07	3.38	3.96	3.51	3.13	3.21	3.13
Quick Ratio	2.68	2.05	2.16	4.29	3.43	2.90	3.31	2.94	2.79	2.85	2.78
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	359	49	98	27	-4,890	542	390	-570	443	33	150
Operating Cash Flow to CapEx	0.00%	784.67%	0.00%	546.15%	242.50%	0.00%	1,150.00%	779.55%	841.94%	227.45%	418.37%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.66	0.73	0.83	0.83	0.50	0.47	0.32	0.42	0.48	0.49	0.51
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	14.27	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	8.55	8.30	8.14	5.56	3.87	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	5.03	5.09	3.96	4.17	3.59	4.27	3.82	4.70	3.59	3.11	3.30
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	25.58	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	72.55	71.74	92.14	87.50	101.74	85.50	95.49	77.58	101.64	117.20	110.63
Cash Conversion Cycle (CCC)	-72.55	-71.74	-92.14	-87.50	-76.16	-85.50	-95.49	-77.58	-101.64	-117.20	-110.63
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,326	1,407	1,432	1,645	6,670	6,417	5,958	6,670	6,670	6,953	7,138
Invested Capital Turnover	1.17	1.33	1.41	1.42	0.71	0.65	0.47	0.62	0.70	0.69	0.71
Increase / (Decrease) in Invested Capital	-275	80	25	213	5,025	-253	-459	712	0.00	283	185
Enterprise Value (EV)	2,326	1,970	2,556	3,823	6,238	8,430	8,572	10,467	9,022	7,481	7,831
Market Capitalization	2,080	1,540	2,032	3,219	3,029	5,032	5,265	6,773	4,848	2,910	3,135
Book Value per Share	$33.11	$31.43	$33.63	$39.29	$73.58	$71.81	$64.56	$69.87	$65.14	$67.07	$69.95
Tangible Book Value per Share	$33.11	$31.43	$33.63	$39.29	($10.08)	($21.41)	($27.23)	($27.40)	($39.98)	($44.74)	($41.96)
Total Capital	1,783	1,655	1,645	2,136	7,284	7,118	6,950	7,473	7,524	7,527	7,666
Total Debt	703	679	737	1,095	3,818	4,087	4,268	4,487	5,026	5,145	5,225
Total Long-Term Debt	703	679	737	1,095	3,818	4,087	4,268	4,487	5,026	5,145	5,225
Net Debt	247	430	524	604	3,204	3,386	3,276	3,684	4,172	4,571	4,697
Capital Expenditures (CapEx)	-67	15	-34	26	40	-5.00	26	44	62	102	49
Debt-free, Cash-free Net Working Capital (DFCFNWC)	445	386	454	830	2,469	1,364	1,125	1,234	1,222	1,433	1,493
Debt-free Net Working Capital (DFNWC)	902	635	667	1,321	3,083	2,065	2,117	2,037	2,076	2,007	2,021
Net Working Capital (NWC)	902	635	667	1,321	3,083	2,065	2,117	2,037	2,076	2,007	2,021
Net Nonoperating Expense (NNE)	3.17	6.84	1.23	4.90	83	147	187	89	52	64	118
Net Nonoperating Obligations (NNO)	247	430	524	604	3,204	3,386	3,276	3,684	4,172	4,571	4,697
Total Depreciation and Amortization (D&A)	24	28	27	31	78	160	145	202	157	158	172
Debt-free, Cash-free Net Working Capital to Revenue	25.94%	21.33%	22.69%	38.02%	83.19%	32.03%	38.98%	31.72%	26.25%	30.32%	30.06%
Debt-free Net Working Capital to Revenue	52.54%	35.05%	33.35%	60.51%	103.87%	48.49%	73.35%	52.37%	44.59%	42.46%	40.69%
Net Working Capital to Revenue	52.54%	35.05%	33.35%	60.51%	103.87%	48.49%	73.35%	52.37%	44.59%	42.46%	40.69%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.40	$3.90	$4.93	$8.38	$1.64	$3.13	($6.65)	$1.15	$9.69	$6.96	$6.16
Adjusted Weighted Average Basic Shares Outstanding	33.70M	31.49M	27.88M	26.54M	45.21M	41.39M	41.20M	42.10M	37.24M	35.18M	34.91M
Adjusted Diluted Earnings per Share	$2.33	$3.82	$4.83	$8.18	$1.61	$3.09	($6.65)	$1.13	$8.77	$6.28	$5.61
Adjusted Weighted Average Diluted Shares Outstanding	34.60M	32.17M	28.42M	26.54M	45.21M	41.39M	41.20M	42.10M	37.24M	35.18M	34.91M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.15	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	32.14M	28.85M	27.10M	26.54M	45.21M	41.39M	41.20M	42.10M	37.24M	35.18M	34.91M
Normalized Net Operating Profit after Tax (NOPAT)	95	130	123	244	158	356	23	324	535	372	388
Normalized NOPAT Margin	5.54%	7.16%	6.13%	11.17%	5.32%	8.36%	0.80%	8.33%	11.50%	7.86%	7.81%
Pre Tax Income Margin	8.78%	11.40%	9.90%	10.99%	3.47%	5.28%	-11.78%	3.26%	12.50%	8.42%	6.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	10.13%	19.38%	27.87%	16.17%	98.08%	57.04%	-17.58%	43.40%	25.32%	42.06%	49.31%
Augmented Payout Ratio	272.24%	192.24%	177.05%	58.30%	317.31%	395.07%	-55.86%	228.30%	210.49%	160.32%	78.80%

This table displays calculated financial ratios and metrics derived from Marriott Vacations Worldwide's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	19.01%	8.00%	11.12%	1.20%	-5.27%	0.51%	2.22%	-3.23%	10.03%	11.14%
EBITDA Growth	60.78%	2,244.44%	29.68%	-12.24%	-43.09%	-31.28%	-18.41%	-36.74%	42.14%	-2.76%
EBIT Growth	105.05%	62.26%	38.46%	-15.38%	-49.75%	-40.12%	-25.31%	-48.30%	54.90%	-4.85%
NOPAT Growth	427.99%	-7.05%	5.47%	-32.44%	-59.26%	11.29%	-27.71%	-26.11%	65.56%	78.39%
Net Income Growth	900.00%	49.15%	50.00%	-33.33%	-61.82%	-62.50%	-47.13%	-57.78%	100.00%	48.48%
EPS Growth	1,000.00%	42.66%	67.48%	-26.94%	-56.92%	-52.94%	-40.78%	-54.84%	94.50%	34.38%
Operating Cash Flow Growth	4.52%	255.00%	-138.76%	-13.48%	-24.69%	-41.55%	106.00%	-61.04%	-40.98%	20.48%
Free Cash Flow Firm Growth	155.25%	106.47%	-175.48%	-143.88%	-156.17%	-645.48%	55.18%	76.13%	65.56%	57.69%
Invested Capital Growth	-4.35%	0.00%	3.98%	4.35%	4.83%	4.24%	2.09%	1.75%	2.79%	2.66%
Revenue Q/Q Growth	7.56%	-5.11%	-1.60%	0.77%	0.68%	0.67%	0.08%	-4.60%	14.47%	1.69%
EBITDA Q/Q Growth	0.41%	-14.23%	-4.74%	6.97%	-34.88%	3.57%	13.10%	-17.07%	46.32%	-29.15%
EBIT Q/Q Growth	-2.40%	-15.27%	-5.81%	8.64%	-42.05%	0.98%	17.48%	-24.79%	73.63%	-37.97%
NOPAT Q/Q Growth	-0.50%	-72.42%	122.41%	10.68%	-40.01%	-24.65%	44.48%	13.12%	34.43%	-18.81%
Net Income Q/Q Growth	-18.52%	-20.00%	-1.14%	3.45%	-53.33%	-21.43%	39.39%	-17.39%	121.05%	-41.67%
EPS Q/Q Growth	-14.81%	-19.37%	0.98%	5.34%	-49.77%	-11.93%	27.08%	-19.67%	116.33%	-39.15%
Operating Cash Flow Q/Q Growth	82.02%	-12.35%	-135.21%	254.00%	58.44%	-31.97%	-96.39%	900.00%	140.00%	38.89%
Free Cash Flow Firm Q/Q Growth	7.56%	-90.60%	-497.23%	-9.21%	-37.68%	8.67%	67.36%	41.83%	-98.64%	-12.20%
Invested Capital Q/Q Growth	-1.35%	0.41%	4.51%	0.80%	-0.90%	-0.16%	2.36%	0.46%	0.11%	-0.28%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	75.80%	76.85%	76.22%	75.55%	76.05%	77.55%	76.90%	76.49%	77.78%	75.21%
EBITDA Margin	19.65%	17.76%	17.19%	18.25%	11.80%	12.14%	13.72%	11.93%	15.25%	10.63%
Operating Margin	19.17%	5.98%	12.06%	14.01%	8.43%	7.79%	10.21%	8.68%	11.34%	7.76%
EBIT Margin	16.21%	14.48%	13.86%	14.94%	8.60%	8.63%	10.13%	7.98%	12.11%	7.39%
Profit (Net Income) Margin	8.79%	7.41%	7.44%	7.64%	3.54%	2.76%	3.85%	3.33%	6.44%	3.69%
Tax Burden Percent	65.09%	60.69%	67.97%	64.29%	63.64%	51.56%	56.79%	79.17%	71.19%	83.05%
Interest Burden Percent	83.25%	84.30%	79.01%	79.55%	64.71%	62.14%	66.94%	52.75%	74.68%	60.20%
Effective Tax Rate	34.91%	39.31%	32.03%	35.71%	36.36%	48.44%	43.21%	20.83%	28.81%	16.95%
Return on Invested Capital (ROIC)	8.39%	2.53%	5.72%	6.26%	3.72%	2.79%	3.91%	4.57%	5.53%	4.54%
ROIC Less NNEP Spread (ROIC-NNEP)	7.23%	3.68%	5.51%	5.89%	3.22%	2.45%	3.41%	3.71%	5.07%	3.76%
Return on Net Nonoperating Assets (RNNOA)	10.21%	5.26%	8.70%	9.62%	5.47%	4.38%	6.47%	7.13%	9.75%	7.22%
Return on Equity (ROE)	18.60%	7.80%	14.42%	15.89%	9.20%	7.17%	10.39%	11.70%	15.28%	11.76%
Cash Return on Invested Capital (CROIC)	11.20%	6.64%	2.62%	1.52%	-0.22%	0.48%	2.02%	1.85%	1.48%	2.13%
Operating Return on Assets (OROA)	7.89%	7.00%	6.92%	7.60%	4.34%	4.22%	4.94%	3.94%	6.10%	3.76%
Return on Assets (ROA)	4.27%	3.58%	3.72%	3.89%	1.79%	1.35%	1.88%	1.65%	3.24%	1.88%
Return on Common Equity (ROCE)	18.49%	7.78%	14.39%	15.88%	9.19%	7.16%	10.38%	11.70%	15.27%	11.76%
Return on Equity Simple (ROE_SIMPLE)	13.79%	0.00%	16.95%	15.15%	12.75%	0.00%	8.87%	6.70%	8.31%	0.00%
Net Operating Profit after Tax (NOPAT)	156	43	96	106	64	48	69	78	105	86
NOPAT Margin	12.48%	3.63%	8.20%	9.00%	5.37%	4.02%	5.80%	6.88%	8.07%	6.45%
Net Nonoperating Expense Percent (NNEP)	1.16%	-1.14%	0.21%	0.38%	0.51%	0.34%	0.50%	0.87%	0.46%	0.79%
Return On Investment Capital (ROIC_SIMPLE)	-	0.57%	-	-	-	0.64%	-	-	-	1.12%
Cost of Revenue to Revenue	24.20%	23.15%	23.78%	24.45%	23.95%	22.45%	23.10%	23.51%	22.22%	24.79%
SG&A Expenses to Revenue	4.95%	5.22%	5.82%	5.43%	4.81%	7.04%	5.27%	4.74%	4.75%	4.82%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	56.63%	70.88%	64.16%	61.55%	67.62%	69.77%	66.69%	67.81%	66.44%	67.45%
Earnings before Interest and Taxes (EBIT)	203	172	162	176	102	103	121	91	158	98
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	246	211	201	215	140	145	164	136	199	141
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.74	1.94	1.95	1.77	1.47	1.22	1.60	1.29	1.06	1.28
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.00	1.04	1.01	0.91	0.75	0.62	0.80	0.65	0.53	0.63
Price to Earnings (P/E)	12.54	12.40	11.51	11.70	11.54	11.45	17.74	19.07	12.69	14.38
Dividend Yield	2.07%	2.04%	2.06%	2.34%	2.97%	3.56%	2.77%	3.44%	4.14%	3.42%
Earnings Yield	7.98%	8.07%	8.69%	8.55%	8.67%	8.73%	5.64%	5.24%	7.88%	6.95%
Enterprise Value to Invested Capital (EV/IC)	1.29	1.35	1.34	1.27	1.16	1.08	1.20	1.10	1.02	1.10
Enterprise Value to Revenue (EV/Rev)	1.88	1.94	1.95	1.86	1.72	1.58	1.80	1.66	1.51	1.58
Enterprise Value to EBITDA (EV/EBITDA)	15.41	10.53	10.33	10.22	10.56	10.67	12.85	13.42	11.36	12.24
Enterprise Value to EBIT (EV/EBIT)	13.53	12.89	12.52	12.52	13.23	13.78	17.00	18.82	15.47	16.73
Enterprise Value to NOPAT (EV/NOPAT)	18.69	20.38	20.90	22.45	26.49	23.68	29.57	30.88	24.50	23.40
Enterprise Value to Operating Cash Flow (EV/OCF)	20.43	17.28	27.20	26.97	27.83	32.24	29.94	32.98	38.91	38.20
Enterprise Value to Free Cash Flow (EV/FCFF)	11.27	20.38	51.99	85.37	0.00	227.03	59.87	59.84	69.94	52.30
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.73	2.01	2.04	2.03	2.10	2.16	2.22	2.21	2.19	2.14
Long-Term Debt to Equity	1.73	2.01	2.04	2.03	2.10	2.16	2.22	2.21	2.19	2.14
Financial Leverage	1.41	1.43	1.58	1.63	1.70	1.79	1.90	1.92	1.92	1.92
Leverage Ratio	3.33	3.51	3.60	3.60	3.71	3.96	4.01	3.94	3.97	4.04
Compound Leverage Factor	2.78	2.96	2.85	2.87	2.40	2.46	2.68	2.08	2.97	2.43
Debt to Total Capital	63.43%	66.80%	67.13%	66.99%	67.72%	68.35%	68.98%	68.82%	68.60%	68.16%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	63.43%	66.80%	67.13%	66.99%	67.72%	68.35%	68.98%	68.82%	68.60%	68.16%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.03%	0.03%	0.03%	0.03%	0.03%	0.00%	-0.01%	0.00%	0.00%	-0.01%
Common Equity to Total Capital	36.54%	33.17%	32.84%	32.98%	32.25%	31.65%	31.03%	31.18%	31.40%	31.85%
Debt to EBITDA	8.18	5.86	5.61	5.76	6.59	7.34	7.97	8.95	8.21	8.16
Net Debt to EBITDA	7.21	4.87	4.97	5.21	5.94	6.52	7.14	8.17	7.36	7.34
Long-Term Debt to EBITDA	8.18	5.86	5.61	5.76	6.59	7.34	7.97	8.95	8.21	8.16
Debt to NOPAT	9.93	11.35	11.35	12.65	16.54	16.28	18.33	20.60	17.70	15.61
Net Debt to NOPAT	8.75	9.42	10.06	11.44	14.90	14.47	16.42	18.80	15.87	14.03
Long-Term Debt to NOPAT	9.93	11.35	11.35	12.65	16.54	16.28	18.33	20.60	17.70	15.61
Altman Z-Score	1.31	1.29	1.31	1.31	1.20	1.12	1.19	1.14	1.14	1.16
Noncontrolling Interest Sharing Ratio	0.59%	0.22%	0.23%	0.06%	0.08%	0.04%	0.02%	0.04%	0.04%	-0.02%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.31	3.13	3.67	3.90	3.54	3.21	3.55	3.78	3.53	3.13
Quick Ratio	3.00	2.79	3.32	3.57	3.24	2.85	3.16	3.43	3.11	2.78
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	458	43	-171	-187	-257	-235	-77	-45	-89	-99
Operating Cash Flow to CapEx	1,472.73%	458.06%	-135.14%	296.15%	435.71%	332.00%	18.75%	230.77%	514.29%	1,666.67%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.49	0.48	0.50	0.51	0.51	0.49	0.49	0.49	0.50	0.51
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	3.96	0.00	0.00	0.00	4.00	0.00
Accounts Payable Turnover	5.59	3.59	5.18	5.37	4.90	3.11	5.04	5.39	4.58	3.30
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	65.28	101.64	70.40	67.96	74.46	117.20	72.44	67.77	79.66	110.63
Cash Conversion Cycle (CCC)	-65.28	-101.64	-70.40	-67.96	-74.46	-117.20	-72.44	-67.77	-79.66	-110.63
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,643	6,670	6,971	7,027	6,964	6,953	7,117	7,150	7,158	7,138
Invested Capital Turnover	0.67	0.70	0.70	0.70	0.69	0.69	0.67	0.67	0.68	0.71
Increase / (Decrease) in Invested Capital	-302	0.00	267	293	321	283	146	123	194	185
Enterprise Value (EV)	8,581	9,022	9,329	8,926	8,098	7,481	8,534	7,849	7,315	7,831
Market Capitalization	4,564	4,848	4,836	4,375	3,542	2,910	3,796	3,071	2,576	3,135
Book Value per Share	$66.84	$65.14	$66.55	$67.27	$66.03	$67.07	$67.65	$67.46	$69.00	$69.95
Tangible Book Value per Share	($36.02)	($39.98)	($41.28)	($41.43)	($43.24)	($44.74)	($44.85)	($44.56)	($42.93)	($41.96)
Total Capital	7,186	7,524	7,545	7,507	7,467	7,527	7,667	7,607	7,705	7,666
Total Debt	4,558	5,026	5,065	5,029	5,057	5,145	5,289	5,235	5,286	5,225
Total Long-Term Debt	4,558	5,026	5,065	5,029	5,057	5,145	5,289	5,235	5,286	5,225
Net Debt	4,015	4,172	4,491	4,549	4,554	4,571	4,739	4,778	4,739	4,697
Capital Expenditures (CapEx)	11	31	37	26	28	25	16	13	14	6.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,331	1,222	1,458	1,567	1,501	1,433	1,522	1,576	1,557	1,493
Debt-free Net Working Capital (DFNWC)	1,874	2,076	2,032	2,047	2,004	2,007	2,072	2,033	2,104	2,021
Net Working Capital (NWC)	1,874	2,076	2,032	2,047	2,004	2,007	2,072	2,033	2,104	2,021
Net Nonoperating Expense (NNE)	46	-45	8.84	16	22	15	23	40	21	37
Net Nonoperating Obligations (NNO)	4,015	4,172	4,491	4,549	4,554	4,571	4,739	4,778	4,739	4,697
Total Depreciation and Amortization (D&A)	43	39	39	39	38	42	43	45	41	43
Debt-free, Cash-free Net Working Capital to Revenue	29.14%	26.25%	30.55%	32.73%	31.79%	30.32%	32.02%	33.43%	32.21%	30.06%
Debt-free Net Working Capital to Revenue	41.02%	44.59%	42.57%	42.76%	42.45%	42.46%	43.59%	43.12%	43.53%	40.69%
Net Working Capital to Revenue	41.02%	44.59%	42.57%	42.76%	42.45%	42.46%	43.59%	43.12%	43.53%	40.69%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.76	$2.27	$2.32	$2.46	$1.16	$1.02	$1.32	$1.04	$2.38	$1.42
Adjusted Weighted Average Basic Shares Outstanding	38.32M	37.24M	36.81M	36.47M	35.52M	35.18M	35.16M	35.06M	34.91M	34.91M
Adjusted Diluted Earnings per Share	$2.53	$2.04	$2.06	$2.17	$1.09	$0.96	$1.22	$0.98	$2.12	$1.29
Adjusted Weighted Average Diluted Shares Outstanding	38.32M	37.24M	36.81M	36.47M	35.52M	35.18M	35.16M	35.06M	34.91M	34.91M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	38.32M	37.24M	36.81M	36.47M	35.52M	35.18M	35.16M	35.06M	34.91M	34.91M
Normalized Net Operating Profit after Tax (NOPAT)	158	46	109	114	68	73	81	91	107	115
Normalized NOPAT Margin	12.63%	3.88%	9.36%	9.66%	5.74%	6.13%	6.75%	7.99%	8.24%	8.70%
Pre Tax Income Margin	13.50%	12.21%	10.95%	11.88%	5.56%	5.36%	6.78%	4.21%	9.04%	4.45%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	27.07%	25.32%	24.76%	27.73%	33.88%	42.06%	50.24%	67.30%	53.23%	49.31%
Augmented Payout Ratio	200.55%	210.49%	184.76%	177.60%	174.27%	160.32%	163.03%	172.96%	98.51%	78.80%

Frequently Asked Questions About Marriott Vacations Worldwide's Financials

When does Marriott Vacations Worldwide's financial year end?

According to the most recent income statement we have on file, Marriott Vacations Worldwide's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Marriott Vacations Worldwide's net income changed over the last 10 years?

Marriott Vacations Worldwide's net income appears to be on an upward trend, with a most recent value of $217 million in 2024, rising from $80.76 million in 2014. The previous period was $252 million in 2023. Find out what analysts predict for Marriott Vacations Worldwide in the coming months.

What is Marriott Vacations Worldwide's operating income?

Marriott Vacations Worldwide's total operating income in 2024 was $472 million, based on the following breakdown:

Total Gross Profit: $3.80 billion
Total Operating Expenses: $3.33 billion

How has Marriott Vacations Worldwide revenue changed over the last 10 years?

Over the last 10 years, Marriott Vacations Worldwide's total revenue changed from $1.72 billion in 2014 to $4.97 billion in 2024, a change of 189.4%.

How much debt does Marriott Vacations Worldwide have?

Marriott Vacations Worldwide's total liabilities were at $7.37 billion at the end of 2024, a 0.9% increase from 2023, and a 407.8% increase since 2014.

How much cash does Marriott Vacations Worldwide have?

In the past 10 years, Marriott Vacations Worldwide's cash and equivalents has ranged from $147.10 million in 2016 to $524 million in 2020, and is currently $197 million as of their latest financial filing in 2024.

How has Marriott Vacations Worldwide's book value per share changed over the last 10 years?

Over the last 10 years, Marriott Vacations Worldwide's book value per share changed from 33.11 in 2014 to 69.95 in 2024, a change of 111.3%.

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This page (NYSE:VAC) was last updated on 5/5/2025 by MarketBeat.com Staff

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Marriott Vacations Worldwide (VAC) Financials

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Marriott Vacations Worldwide (VAC) Financials

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