Marriott Vacations Worldwide (VAC) Financials

$76.98 -0.17 (-0.22%)

Closing price 05/8/2026 03:59 PM Eastern

Extended Trading

$77.11 +0.13 (+0.17%)

As of 05/8/2026 04:19 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	123	122	235	55	138	-275	49	391	254	218	-308
Consolidated Net Income / (Loss)	123	122	235	52	142	-256	53	391	252	217	-307
Net Income / (Loss) Continuing Operations	123	122	235	52	142	-256	53	391	252	227	-307
Total Pre-Tax Income	206	198	240	103	225	-340	127	582	398	306	-299
Total Operating Income	218	200	245	267	458	-98	340	659	499	482	-177
Total Gross Profit	1,167	1,478	1,621	2,168	3,006	1,940	2,775	3,541	3,609	3,804	3,849
Total Revenue	1,811	2,000	2,183	2,968	4,259	2,886	3,890	4,656	4,727	4,967	5,032
Operating Revenue	1,811	2,000	2,183	2,968	4,259	2,886	3,890	4,656	4,727	4,967	5,032
Total Cost of Revenue	644	522	562	800	1,253	946	1,115	1,115	1,118	1,163	1,183
Operating Cost of Revenue	644	522	562	800	1,253	946	1,115	1,115	1,118	1,163	1,183
Total Operating Expenses	949	1,278	1,376	1,901	2,548	2,038	2,435	2,882	3,110	3,322	4,026
Selling, General & Admin Expense	106	100	106	198	248	154	227	249	273	237	242
Marketing Expense	331	334	388	527	748	386	617	807	823	919	943
Depreciation Expense	-	21	21	62	141	123	146	132	135	146	149
Other Operating Expenses / (Income)	512	824	856	1,068	1,305	1,244	1,322	1,556	1,791	1,949	2,083
Impairment Charge	0.32	-	0.00	0.00	99	100	3.00	2.00	32	30	577
Restructuring Charge	-	0.00	-	0.00	-	25	110	125	43	18	15
Other Special Charges / (Income)	-0.23	-1.00	4.00	46	7.00	6.00	10	11	13	23	17
Total Other Income / (Expense), net	-12	-2.00	-6.00	-164	-233	-242	-213	-77	-101	-166	-122
Interest & Investment Income	-13	-9.00	-10	-54	-132	-150	-164	-118	-145	-162	-169
Other Income / (Expense), net	1.30	7.00	4.00	-110	-101	-92	-49	41	44	-4.00	47
Income Tax Expense	84	76	5.00	51	83	-84	74	191	146	89	8.00
Net Income / (Loss) Attributable to Noncontrolling Interest	-	0.00	0.00	-3.00	4.00	19	4.00	0.00	-2.00	-1.00	1.00
Basic Earnings per Share	$3.90	$4.37	$8.70	$1.64	$3.13	($6.65)	$1.15	$9.69	$6.96	$6.16	($8.84)
Weighted Average Basic Shares Outstanding	31.50M	31.40M	27.08M	45.21M	41.39M	41.20M	42.10M	37.24M	35.18M	34.91M	34.31M
Diluted Earnings per Share	$3.82	$4.29	$8.49	$1.61	$3.09	($6.65)	$1.13	$8.77	$6.28	$5.61	($8.84)
Weighted Average Diluted Shares Outstanding	31.50M	31.40M	27.08M	45.21M	41.39M	41.20M	42.10M	37.24M	35.18M	34.91M	34.31M
Weighted Average Basic & Diluted Shares Outstanding	31.50M	31.40M	27.08M	45.21M	41.39M	41.20M	42.10M	37.24M	35.18M	34.91M	34.31M
Cash Dividends to Common per Share	$1.05	$1.25	$1.45	$1.65	$1.89	$0.54	$1.08	$2.58	$2.92	$3.07	$3.17

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 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	42	35	47	37	84	50	56	69	-2.00	-431	22
Consolidated Net Income / (Loss)	42	33	46	38	84	49	57	69	-2.00	-431	22
Net Income / (Loss) Continuing Operations	42	33	46	38	84	49	57	69	-2.00	-431	22
Total Pre-Tax Income	66	64	81	48	118	59	102	94	1.00	-496	45
Total Operating Income	100	93	122	99	148	103	129	112	33	-451	88
Total Gross Profit	902	926	919	872	1,015	998	918	959	964	1,008	951
Total Revenue	1,186	1,194	1,195	1,140	1,305	1,327	1,200	1,246	1,263	1,323	1,257
Operating Revenue	1,186	1,194	1,195	1,140	1,305	1,327	1,200	1,246	1,263	1,323	1,257
Total Cost of Revenue	284	268	276	268	290	329	282	287	299	315	306
Operating Cost of Revenue	284	268	276	268	290	329	282	287	299	315	306
Total Operating Expenses	802	833	797	773	867	895	789	847	931	1,459	863
Selling, General & Admin Expense	57	84	63	54	61	64	61	61	53	67	64
Marketing Expense	202	205	223	226	228	242	234	237	234	238	242
Depreciation Expense	33	36	38	35	36	37	38	38	38	35	34
Other Operating Expenses / (Income)	503	459	453	442	538	516	447	472	571	603	515
Impairment Charge	0.00	28	-	2.00	0.00	28	2.00	0.00	31	-	0.00
Restructuring Charge	5.00	15	17	4.00	1.00	6.00	0.00	34	0.00	-31	6.00
Other Special Charges / (Income)	2.00	6.00	3.00	10	3.00	2.00	7.00	5.00	4.00	1.00	2.00
Total Other Income / (Expense), net	-34	-29	-41	-51	-30	-44	-27	-18	-32	-45	-43
Interest & Investment Income	-36	-39	-40	-43	-40	-39	-40	-42	-43	-44	-44
Other Income / (Expense), net	2.00	10	-1.00	-8.00	10	-5.00	13	24	11	-1.00	1.00
Income Tax Expense	24	31	35	10	34	10	45	25	3.00	-65	23
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-2.00	-1.00	1.00	0.00	-1.00	1.00	0.00	0.00	-	0.00
Basic Earnings per Share	$1.16	$1.02	$1.32	$1.04	$2.38	$1.42	$1.60	$1.98	($0.07)	($12.35)	$0.64
Weighted Average Basic Shares Outstanding	35.52M	35.18M	35.16M	35.06M	34.91M	34.91M	34.54M	34.60M	34.61M	34.31M	34.34M
Diluted Earnings per Share	$1.09	$0.96	$1.22	$0.98	$2.12	$1.29	$1.46	$1.77	($0.07)	($12.00)	$0.64
Weighted Average Diluted Shares Outstanding	35.52M	35.18M	35.16M	35.06M	34.91M	34.91M	34.54M	34.60M	34.61M	34.31M	34.34M
Weighted Average Basic & Diluted Shares Outstanding	35.52M	35.18M	35.16M	35.06M	34.91M	34.91M	34.54M	34.60M	34.61M	34.31M	34.34M
Cash Dividends to Common per Share	$0.72	$0.76	$0.76	$0.76	$0.76	$0.79	$0.79	$0.79	$0.79	$0.80	$0.80

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Net Change in Cash & Equivalents	-208	-36	278	123	87	291	-189	51	-280	-46	205
Net Cash From Operating Activities	118	141	142	97	382	299	343	522	232	205	28
Net Cash From Continuing Operating Activities	118	141	142	97	382	299	340	522	232	205	28
Net Income / (Loss) Continuing Operations	123	122	235	52	142	-256	53	391	252	217	-307
Consolidated Net Income / (Loss)	123	122	235	52	142	-256	53	391	252	217	-307
Depreciation Expense	22	-	-	-	-	-	146	132	135	146	149
Amortization Expense	5.59	27	31	78	160	145	56	25	23	26	24
Non-Cash Adjustments To Reconcile Net Income	-65	-10	-212	-146	-113	464	-56	-179	-139	-43	221
Changes in Operating Assets and Liabilities, net	33	2.00	88	113	193	-54	141	153	-39	-141	-59
Net Cash From Investing Activities	-63	34	-38	-1,407	37	-32	-213	16	-112	-115	-70
Net Cash From Continuing Investing Activities	-63	34	-38	-1,407	37	-32	-213	16	-112	-115	-70
Purchase of Property, Plant & Equipment	-36	-35	-26	-40	-46	-41	-47	-65	-118	-57	-57
Sale of Property, Plant & Equipment	21	69	-	0.00	51	15	3.00	3.00	16	8.00	3.00
Other Investing Activities, net	-48	0.00	-12	-14	-6.00	-6.00	-12	-63	-10	-66	-16
Net Cash From Financing Activities	-259	-206	171	1,433	-331	23	-317	-486	-401	-132	241
Net Cash From Continuing Financing Activities	-259	-206	171	1,433	-331	23	-317	-486	-401	-132	241
Repayment of Debt	-283	-412	-396	-631	-1,719	-1,679	-2,229	-1,895	-2,564	-3,414	-2,711
Repurchase of Common Equity	-212	-182	-99	-114	-480	-98	-98	-724	-298	-64	-68
Payment of Dividends	-24	-34	-38	-51	-81	-45	-23	-99	-106	-107	-110
Issuance of Debt	255	462	717	2,229	1,961	1,856	2,068	2,297	2,562	3,459	3,137
Other Financing Activities, net	5.38	0.00	-33	0.00	-12	-11	-105	-108	5.00	-6.00	-7.00
Other Net Changes in Cash	-	-5.00	3.00	-	-1.00	-	-2.00	-1.00	-	-	6.00
Cash Interest Paid	-	23	22	55	167	176	184	149	204	247	237
Cash Income Taxes Paid	-	48	49	41	53	-32	-13	57	141	133	143

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 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	23	71	-24	-93	90	-19	-41	-19	265	-	-137
Net Cash From Operating Activities	122	83	3.00	30	72	100	8.00	-48	62	6.00	-4.00
Net Cash From Continuing Operating Activities	122	83	3.00	30	72	100	8.00	-48	62	6.00	-4.00
Net Income / (Loss) Continuing Operations	42	33	46	38	84	49	57	69	-2.00	-431	22
Consolidated Net Income / (Loss)	42	33	46	38	84	49	57	69	-2.00	-431	22
Depreciation Expense	33	36	38	35	36	37	38	38	38	35	34
Amortization Expense	5.00	6.00	5.00	10	5.00	6.00	5.00	7.00	6.00	6.00	5.00
Non-Cash Adjustments To Reconcile Net Income	-37	-49	148	18	-185	-26	-18	-119	-126	395	6.00
Changes in Operating Assets and Liabilities, net	79	57	-234	-71	132	34	-74	-43	146	1.00	-71
Net Cash From Investing Activities	-32	-27	-69	-19	-18	-9.00	-18	-25	-14	-13	42
Net Cash From Continuing Investing Activities	-32	-27	-69	-19	-18	-9.00	-18	-25	-14	-13	42
Purchase of Property, Plant & Equipment	-29	-26	-16	-13	-14	-14	-14	-20	-11	-12	-8.00
Divestitures	-	-	-	-	-	-	0.00	-	-	-	50
Other Investing Activities, net	-4.00	-2.00	-53	-6.00	-4.00	-3.00	-4.00	-6.00	-2.00	-4.00	0.00
Net Cash From Financing Activities	-65	13	43	-102	33	-106	-32	51	217	5.00	-174
Net Cash From Continuing Financing Activities	-65	13	43	-102	33	-106	-32	51	217	5.00	-174
Repayment of Debt	-427	-774	-736	-1,290	-739	-649	-479	-993	-802	-437	-1,350
Repurchase of Common Equity	-86	-40	-29	-13	-9.00	-13	-42	-	-	-26	-6.00
Payment of Dividends	-	-26	-54	-27	-	-26	-55	-28	-27	-	-55
Issuance of Debt	448	856	864	1,229	782	584	546	1,073	1,048	470	1,239
Other Financing Activities, net	-	-3.00	-2.00	-1.00	-1.00	-2.00	-2.00	-1.00	-2.00	-2.00	-2.00
Other Net Changes in Cash	-	-	-1.00	-2.00	-	-	1.00	3.00	-	2.00	-1.00
Cash Interest Paid	42	63	52	71	56	68	54	67	55	61	53
Cash Income Taxes Paid	5.00	3.00	50	64	8.00	11	4.00	107	6.00	26	4.00

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
Total Assets	2,400	2,391	2,845	9,018	9,214	8,898	9,613	9,639	9,680	9,808	9,757
Total Current Assets	1,169	1,185	1,698	3,840	2,934	2,832	2,848	3,052	2,917	2,968	3,298
Cash & Equivalents	177	147	409	231	287	524	342	524	248	197	406
Restricted Cash	71	66	82	383	414	468	461	330	326	331	327
Note & Lease Receivable	921	972	1,115	2,039	2,233	1,840	2,045	2,198	2,343	2,440	2,565
Plant, Property, & Equipment, net	289	203	583	951	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	942	1,003	564	4,227	6,280	6,066	6,765	6,587	6,763	6,840	6,459
Goodwill	-	-	0.00	2,828	2,892	2,817	3,150	3,117	3,117	3,117	2,958
Intangible Assets	-	-	0.00	1,107	1,027	952	993	911	854	790	711
Other Noncurrent Operating Assets	942	1,003	564	292	2,361	2,297	2,622	2,559	2,792	2,933	2,790
Total Liabilities & Shareholders' Equity	2,400	2,391	2,845	9,018	9,214	8,898	9,613	9,639	9,680	9,808	9,757
Total Liabilities	1,423	1,484	1,804	5,552	6,183	6,216	6,627	7,141	7,298	7,367	7,764
Total Current Liabilities	534	518	377	757	869	715	811	976	910	947	952
Accounts Payable	139	124	145	301	286	209	265	356	362	343	358
Accrued Expenses	164	147	120	246	397	349	345	369	343	384	376
Other Current Liabilities	104	96	112	210	186	157	201	251	205	220	218
Total Noncurrent Liabilities	889	965	1,427	4,795	5,314	5,501	5,816	6,165	6,388	6,420	6,812
Long-Term Debt	679	737	1,095	3,818	4,087	4,268	4,487	5,026	5,145	5,225	5,680
Noncurrent Deferred Revenue	-	-	-	383	433	488	453	344	382	354	371
Noncurrent Deferred & Payable Income Tax Liabilities	109	149	90	318	300	274	350	331	280	345	231
Noncurrent Employee Benefit Liabilities	51	63	75	93	110	127	142	139	168	195	225
Other Noncurrent Operating Liabilities	50	16	167	183	384	344	384	325	413	301	305
Commitments & Contingencies	0.00	0.00	0.00	0.00	-	-	0.00	0.00	-	0.00	0.00
Total Equity & Noncontrolling Interests	976	908	1,041	3,466	3,031	2,682	2,986	2,498	2,382	2,441	1,993
Total Preferred & Common Equity	976	908	1,041	3,461	3,019	2,651	2,976	2,496	2,382	2,442	1,993
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	976	908	1,041	3,461	3,019	2,651	2,976	2,496	2,382	2,442	1,993
Common Stock	1,151	1,163	1,189	3,722	3,739	3,761	4,073	3,942	3,956	3,976	3,997
Retained Earnings	244	346	529	523	569	272	275	593	742	852	434
Treasury Stock	-430	-607	-694	-790	-1,253	-1,334	-1,356	-2,054	-2,332	-2,378	-2,427
Accumulated Other Comprehensive Income / (Loss)	11	5.46	17	6.00	-36	-48	-16	15	16	-8.00	-11
Noncontrolling Interest	-	-	0.00	5.00	12	31	10	2.00	0.00	-1.00	0.00

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	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	9,237	9,602	9,482	9,453	9,867	9,611	9,740	9,882	9,887	10,149	9,636
Total Current Assets	2,685	2,794	2,752	2,794	2,886	2,765	2,934	2,933	2,953	3,255	3,163
Cash & Equivalents	294	306	242	265	237	206	197	196	205	474	268
Restricted Cash	249	268	238	238	313	251	350	291	263	259	328
Note & Lease Receivable	2,142	2,220	2,272	2,291	2,336	2,308	2,387	2,446	2,485	2,522	2,567
Plant, Property, & Equipment, net	1,136	0.00	0.00	1,250	1,299	0.00	1,165	1,166	0.00	1,325	944
Total Noncurrent Assets	5,416	6,808	6,730	5,409	5,682	6,846	5,641	5,783	6,934	5,569	5,529
Goodwill	3,117	3,117	3,117	3,117	3,117	3,117	3,117	3,117	3,117	3,117	2,958
Intangible Assets	924	898	884	868	839	822	807	775	762	747	696
Other Noncurrent Operating Assets	1,375	2,793	2,729	1,424	1,726	2,907	1,717	1,891	3,055	1,705	1,875
Total Liabilities & Shareholders' Equity	9,237	9,602	9,482	9,453	9,867	9,611	9,740	9,882	9,887	10,149	9,636
Total Liabilities	6,609	7,122	7,004	7,043	7,489	7,239	7,321	7,447	7,403	7,684	7,644
Total Current Liabilities	811	762	705	790	814	732	830	885	764	827	874
Accounts Payable	221	222	209	238	221	198	243	251	225	250	270
Accrued Expenses	342	334	322	359	384	371	384	426	363	374	383
Other Current Liabilities	248	206	174	193	209	163	203	208	176	203	221
Total Noncurrent Liabilities	5,798	6,360	6,299	6,253	6,675	6,507	6,491	6,562	6,639	6,857	6,770
Long-Term Debt	4,558	5,065	5,029	5,057	5,289	5,235	5,286	5,298	5,385	5,640	5,569
Noncurrent Deferred Revenue	346	448	417	371	482	418	350	442	397	344	466
Noncurrent Deferred & Payable Income Tax Liabilities	374	339	344	335	328	370	372	335	358	357	229
Noncurrent Employee Benefit Liabilities	130	147	154	156	173	179	191	186	203	217	214
Other Noncurrent Operating Liabilities	390	361	355	334	403	305	292	301	296	299	292
Commitments & Contingencies	-	-	0.00	-	-	-	-	-	-	0.00	0.00
Total Equity & Noncontrolling Interests	2,628	2,480	2,478	2,410	2,378	2,372	2,419	2,435	2,484	2,465	1,992
Total Preferred & Common Equity	2,626	2,478	2,476	2,408	2,379	2,372	2,419	2,435	2,484	2,465	1,992
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	2,626	2,478	2,476	2,408	2,379	2,372	2,419	2,435	2,484	2,465	1,992
Common Stock	3,969	3,938	3,948	3,954	3,952	3,960	3,970	3,969	3,980	3,989	3,990
Retained Earnings	533	654	718	734	763	773	830	881	922	893	429
Treasury Stock	-1,882	-2,132	-2,213	-2,298	-2,351	-2,362	-2,370	-2,406	-2,404	-2,403	-2,415
Accumulated Other Comprehensive Income / (Loss)	6.00	18	23	18	15	1.00	-11	-9.00	-14	-14	-12
Noncontrolling Interest	2.00	2.00	2.00	2.00	-1.00	0.00	0.00	0.00	0.00	0.00	0.00

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	34,613,991.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	34,613,991.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-8.90
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	130	123	240	135	289	-69	142	443	316	335	-124
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	5.88%	4.20%	4.37%	-1.61%
Earnings before Interest and Taxes (EBIT)	219	207	249	157	357	-190	291	700	543	468	-130
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	247	234	280	235	517	-45	493	857	701	640	43
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	49	98	27	-4,890	542	390	-570	443	33	150	74
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,407	1,432	1,645	6,670	6,417	5,958	6,670	6,670	6,953	7,138	6,940
Increase / (Decrease) in Invested Capital	80	25	213	5,025	-253	-459	712	0.00	283	185	-198
Book Value per Share	$31.43	$33.63	$39.29	$73.58	$71.81	$64.56	$69.87	$65.14	$67.07	$69.95	$57.58
Tangible Book Value per Share	$31.43	$33.63	$39.29	($10.08)	($21.41)	($27.23)	($27.40)	($39.98)	($44.74)	($41.96)	($48.42)
Total Capital	1,655	1,645	2,136	7,284	7,118	6,950	7,473	7,524	7,527	7,666	7,673
Total Debt	679	737	1,095	3,818	4,087	4,268	4,487	5,026	5,145	5,225	5,680
Total Long-Term Debt	679	737	1,095	3,818	4,087	4,268	4,487	5,026	5,145	5,225	5,680
Net Debt	430	524	604	3,204	3,386	3,276	3,684	4,172	4,571	4,697	4,947
Capital Expenditures (CapEx)	15	-34	26	40	-5.00	26	44	62	102	49	54
Debt-free, Cash-free Net Working Capital (DFCFNWC)	386	454	830	2,469	1,364	1,125	1,234	1,222	1,433	1,493	1,613
Debt-free Net Working Capital (DFNWC)	635	667	1,321	3,083	2,065	2,117	2,037	2,076	2,007	2,021	2,346
Net Working Capital (NWC)	635	667	1,321	3,083	2,065	2,117	2,037	2,076	2,007	2,021	2,346
Net Nonoperating Expense (NNE)	6.84	1.23	4.90	83	147	187	89	52	64	118	183
Net Nonoperating Obligations (NNO)	430	524	604	3,204	3,386	3,276	3,684	4,172	4,571	4,697	4,947
Total Depreciation and Amortization (D&A)	28	27	31	78	160	145	202	157	158	172	173
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.90	$4.93	$8.38	$1.64	$3.13	($6.65)	$1.15	$9.69	$6.96	$6.16	($8.84)
Adjusted Weighted Average Basic Shares Outstanding	31.49M	27.88M	26.54M	45.21M	41.39M	41.20M	42.10M	37.24M	35.18M	34.91M	34.31M
Adjusted Diluted Earnings per Share	$3.82	$4.83	$8.18	$1.61	$3.09	($6.65)	$1.13	$8.77	$6.28	$5.61	($8.84)
Adjusted Weighted Average Diluted Shares Outstanding	32.17M	28.42M	26.54M	45.21M	41.39M	41.20M	42.10M	37.24M	35.18M	34.91M	34.31M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.15	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	28.85M	27.10M	26.54M	45.21M	41.39M	41.20M	42.10M	37.24M	35.18M	34.91M	34.31M
Normalized Net Operating Profit after Tax (NOPAT)	130	123	244	158	356	23	324	535	372	388	302
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	34,613,991.00	34,305,473.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	34,613,991.00	34,305,473.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-12.45	0.64
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.27%	0.51%	2.22%	-3.23%	10.03%	11.14%	0.42%	9.30%	-3.22%	-	4.75%
EBITDA Growth	-43.09%	-31.28%	-18.41%	-36.74%	42.14%	-2.76%	12.80%	33.09%	-55.78%	-	-30.81%
EBIT Growth	-49.75%	-40.12%	-25.31%	-48.30%	54.90%	-4.85%	17.36%	49.45%	-72.15%	-	-37.32%
NOPAT Growth	-59.26%	11.29%	-27.71%	-26.11%	65.56%	78.39%	4.05%	4.90%	-162.64%	-	-40.32%
Net Income Growth	-61.82%	-62.50%	-47.13%	-57.78%	100.00%	48.48%	23.91%	81.58%	-102.38%	-	-61.40%
EPS Growth	-56.92%	-52.94%	-40.78%	-54.84%	94.50%	34.38%	19.67%	80.61%	-103.30%	-	-56.16%
Operating Cash Flow Growth	-24.69%	-41.55%	106.00%	-61.04%	-40.98%	20.48%	166.67%	-260.00%	-13.89%	-	-150.00%
Free Cash Flow Firm Growth	-156.17%	-645.48%	55.18%	76.13%	65.56%	57.69%	25.82%	-278.23%	-215.87%	-	669.34%
Invested Capital Growth	4.83%	4.24%	2.09%	1.75%	2.79%	2.66%	1.81%	3.51%	2.99%	-	-3.88%
Revenue Q/Q Growth	0.68%	0.67%	0.08%	-4.60%	14.47%	1.69%	-9.57%	3.83%	1.36%	-	-4.99%
EBITDA Q/Q Growth	-34.88%	3.57%	13.10%	-17.07%	46.32%	-29.15%	31.21%	-2.16%	-51.38%	-	131.14%
EBIT Q/Q Growth	-42.05%	0.98%	17.48%	-24.79%	73.63%	-37.97%	44.90%	-4.23%	-67.65%	-	119.69%
NOPAT Q/Q Growth	-40.01%	-24.65%	44.48%	13.12%	34.43%	-18.81%	-15.73%	14.04%	-180.28%	-	113.63%
Net Income Q/Q Growth	-53.33%	-21.43%	39.39%	-17.39%	121.05%	-41.67%	16.33%	21.05%	-102.90%	-	105.10%
EPS Q/Q Growth	-49.77%	-11.93%	27.08%	-19.67%	116.33%	-39.15%	13.18%	21.23%	-103.95%	-	105.33%
Operating Cash Flow Q/Q Growth	58.44%	-31.97%	-96.39%	900.00%	140.00%	38.89%	-92.00%	-700.00%	229.17%	-	-166.67%
Free Cash Flow Firm Q/Q Growth	-37.68%	8.67%	67.36%	41.83%	-98.64%	-12.20%	42.78%	-196.58%	-65.89%	-	375.30%
Invested Capital Q/Q Growth	-0.90%	-0.16%	2.36%	0.46%	0.11%	-0.28%	1.51%	2.14%	-0.39%	-	0.36%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	76.05%	77.55%	76.90%	76.49%	77.78%	75.21%	76.50%	76.97%	76.33%	-	75.66%
EBITDA Margin	11.80%	12.14%	13.72%	11.93%	15.25%	10.63%	15.42%	14.53%	6.97%	-	10.18%
Operating Margin	8.43%	7.79%	10.21%	8.68%	11.34%	7.76%	10.75%	8.99%	2.61%	-	7.00%
EBIT Margin	8.60%	8.63%	10.13%	7.98%	12.11%	7.39%	11.83%	10.91%	3.48%	-	7.08%
Profit (Net Income) Margin	3.54%	2.76%	3.85%	3.33%	6.44%	3.69%	4.75%	5.54%	-0.16%	-	1.75%
Tax Burden Percent	63.64%	51.56%	56.79%	79.17%	71.19%	83.05%	55.88%	73.40%	-200.00%	-	48.89%
Interest Burden Percent	64.71%	62.14%	66.94%	52.75%	74.68%	60.20%	71.83%	69.12%	2.27%	-	50.56%
Effective Tax Rate	36.36%	48.44%	43.21%	20.83%	28.81%	16.95%	44.12%	26.60%	300.00%	-	51.11%
Return on Invested Capital (ROIC)	3.72%	2.79%	3.91%	4.57%	5.53%	4.54%	4.16%	4.61%	-3.62%	-	2.45%
ROIC Less NNEP Spread (ROIC-NNEP)	3.22%	2.45%	3.41%	3.71%	5.07%	3.76%	3.84%	4.33%	-2.30%	-	2.02%
Return on Net Nonoperating Assets (RNNOA)	5.47%	4.38%	6.47%	7.13%	9.75%	7.22%	7.63%	8.65%	-4.53%	-	4.47%
Return on Equity (ROE)	9.20%	7.17%	10.39%	11.70%	15.28%	11.76%	11.78%	13.26%	-8.16%	-	6.92%
Cash Return on Invested Capital (CROIC)	-0.22%	0.48%	2.02%	1.85%	1.48%	2.13%	2.85%	1.25%	0.56%	-	1.81%
Operating Return on Assets (OROA)	4.34%	4.22%	4.94%	3.94%	6.10%	3.76%	5.96%	5.69%	1.76%	-	3.69%
Return on Assets (ROA)	1.79%	1.35%	1.88%	1.65%	3.24%	1.88%	2.39%	2.88%	-0.08%	-	0.91%
Return on Common Equity (ROCE)	9.19%	7.16%	10.38%	11.70%	15.27%	11.76%	11.79%	13.26%	-8.16%	-	6.92%
Return on Equity Simple (ROE_SIMPLE)	12.75%	0.00%	8.87%	6.70%	8.31%	0.00%	9.36%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	64	48	69	78	105	86	72	82	-66	-316	43
NOPAT Margin	5.37%	4.02%	5.80%	6.88%	8.07%	6.45%	6.01%	6.60%	-5.23%	-	3.42%
Net Nonoperating Expense Percent (NNEP)	0.51%	0.34%	0.50%	0.87%	0.46%	0.79%	0.32%	0.27%	-1.33%	-	0.43%
Return On Investment Capital (ROIC_SIMPLE)	-	0.64%	-	-	-	1.12%	0.93%	1.04%	-0.81%	-4.11%	0.57%
Cost of Revenue to Revenue	23.95%	22.45%	23.10%	23.51%	22.22%	24.79%	23.50%	23.03%	23.67%	-	24.34%
SG&A Expenses to Revenue	4.81%	7.04%	5.27%	4.74%	4.75%	4.82%	5.08%	4.90%	4.20%	-	5.09%
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	67.62%	69.77%	66.69%	67.81%	66.44%	67.45%	65.75%	67.98%	73.71%	-	68.66%
Earnings before Interest and Taxes (EBIT)	102	103	121	91	158	98	142	136	44	-452	89
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	140	145	164	136	199	141	185	181	88	-411	128
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.47	1.22	1.60	1.29	1.06	1.28	0.92	1.01	0.93	-	1.12
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)	0.75	0.62	0.80	0.65	0.53	0.63	0.45	0.49	0.46	-	0.44
Price to Earnings (P/E)	11.54	11.45	17.74	19.07	12.69	14.38	9.88	9.64	13.31	-	0.00
Dividend Yield	2.97%	3.56%	2.77%	3.44%	4.14%	3.42%	4.83%	4.33%	4.75%	-	4.88%
Earnings Yield	8.67%	8.73%	5.64%	5.24%	7.88%	6.95%	10.12%	10.37%	7.51%	-	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.16	1.08	1.20	1.10	1.02	1.10	0.97	1.00	0.98	-	1.03
Enterprise Value to Revenue (EV/Rev)	1.72	1.58	1.80	1.66	1.51	1.58	1.42	1.46	1.43	-	1.42
Enterprise Value to EBITDA (EV/EBITDA)	10.56	10.67	12.85	13.42	11.36	12.24	10.67	10.50	12.12	-	0.00
Enterprise Value to EBIT (EV/EBIT)	13.23	13.78	17.00	18.82	15.47	16.73	14.42	13.88	17.17	-	0.00
Enterprise Value to NOPAT (EV/NOPAT)	26.49	23.68	29.57	30.88	24.50	23.40	21.12	21.70	28.30	-	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	27.83	32.24	29.94	32.98	38.91	38.20	33.59	56.17	59.10	-	450.44
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	227.03	59.87	59.84	69.94	52.30	34.41	81.81	176.85	-	56.13
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.10	2.16	2.22	2.21	2.19	2.14	2.18	2.17	2.29	-	2.80
Long-Term Debt to Equity	2.10	2.16	2.22	2.21	2.19	2.14	2.18	2.17	2.29	-	2.80
Financial Leverage	1.70	1.79	1.90	1.92	1.92	1.92	1.98	2.00	1.98	-	2.21
Leverage Ratio	3.71	3.96	4.01	3.94	3.97	4.04	4.10	4.02	4.07	-	4.41
Compound Leverage Factor	2.40	2.46	2.68	2.08	2.97	2.43	2.95	2.78	0.09	-	2.23
Debt to Total Capital	67.72%	68.35%	68.98%	68.82%	68.60%	68.16%	68.51%	68.43%	69.59%	-	73.65%
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	67.72%	68.35%	68.98%	68.82%	68.60%	68.16%	68.51%	68.43%	69.59%	-	73.65%
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%	0.00%	-0.01%	0.00%	0.00%	-0.01%	0.00%	0.00%	0.00%	-	0.00%
Common Equity to Total Capital	32.25%	31.65%	31.03%	31.18%	31.40%	31.85%	31.49%	31.57%	30.41%	-	26.35%
Debt to EBITDA	6.59	7.34	7.97	8.95	8.21	8.16	8.02	7.63	9.48	-	-397.79
Net Debt to EBITDA	5.94	6.52	7.14	8.17	7.36	7.34	7.28	6.96	8.25	-	-355.21
Long-Term Debt to EBITDA	6.59	7.34	7.97	8.95	8.21	8.16	8.02	7.63	9.48	-	-397.79
Debt to NOPAT	16.54	16.28	18.33	20.60	17.70	15.61	15.86	15.76	22.14	-	-36.49
Net Debt to NOPAT	14.90	14.47	16.42	18.80	15.87	14.03	14.41	14.39	19.26	-	-32.59
Long-Term Debt to NOPAT	16.54	16.28	18.33	20.60	17.70	15.61	15.86	15.76	22.14	-	-36.49
Altman Z-Score	1.20	1.12	1.19	1.14	1.14	1.16	1.10	1.16	1.10	-	1.08
Noncontrolling Interest Sharing Ratio	0.08%	0.04%	0.02%	0.04%	0.04%	-0.02%	-0.02%	0.00%	0.00%	-	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.54	3.21	3.55	3.78	3.53	3.13	3.31	3.87	3.94	-	3.62
Quick Ratio	3.24	2.85	3.16	3.43	3.11	2.78	2.99	3.52	3.62	-	3.24
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-257	-235	-77	-45	-89	-99	-57	-169	-280	-118	324
Operating Cash Flow to CapEx	435.71%	332.00%	18.75%	230.77%	514.29%	1,666.67%	57.14%	-240.00%	563.64%	-	-50.00%
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	0.51	0.49	0.49	0.49	0.50	0.51	0.50	0.52	0.51	-	0.52
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	3.96	0.00	0.00	0.00	4.00	0.00	4.03	0.00	4.05	-	4.82
Accounts Payable Turnover	4.90	3.11	5.04	5.39	4.58	3.30	4.95	5.62	4.86	-	4.63
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)	74.46	117.20	72.44	67.77	79.66	110.63	73.69	64.98	75.17	-	78.78
Cash Conversion Cycle (CCC)	-74.46	-117.20	-72.44	-67.77	-79.66	-110.63	-73.69	-64.98	-75.17	-	-78.78
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,964	6,953	7,117	7,150	7,158	7,138	7,246	7,401	7,372	6,940	6,965
Invested Capital Turnover	0.69	0.69	0.67	0.67	0.68	0.71	0.69	0.70	0.69	-	0.72
Increase / (Decrease) in Invested Capital	321	283	146	123	194	185	129	251	214	-198	-281
Enterprise Value (EV)	8,098	7,481	8,534	7,849	7,315	7,831	7,054	7,414	7,210	-	7,207
Market Capitalization	3,542	2,910	3,796	3,071	2,576	3,135	2,243	2,497	2,303	-	2,234
Book Value per Share	$66.03	$67.07	$67.65	$67.46	$69.00	$69.95	$69.75	$71.93	$71.24	$57.58	$58.07
Tangible Book Value per Share	($43.24)	($44.74)	($44.85)	($44.56)	($42.93)	($41.96)	($41.74)	($40.39)	($40.43)	($48.42)	($48.45)
Total Capital	7,467	7,527	7,667	7,607	7,705	7,666	7,733	7,869	8,105	7,673	7,561
Total Debt	5,057	5,145	5,289	5,235	5,286	5,225	5,298	5,385	5,640	5,680	5,569
Total Long-Term Debt	5,057	5,145	5,289	5,235	5,286	5,225	5,298	5,385	5,640	5,680	5,569
Net Debt	4,554	4,571	4,739	4,778	4,739	4,697	4,811	4,917	4,907	4,947	4,973
Capital Expenditures (CapEx)	28	25	16	13	14	6.00	14	20	11	12	8.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,501	1,433	1,522	1,576	1,557	1,493	1,561	1,721	1,695	1,613	1,693
Debt-free Net Working Capital (DFNWC)	2,004	2,007	2,072	2,033	2,104	2,021	2,048	2,189	2,428	2,346	2,289
Net Working Capital (NWC)	2,004	2,007	2,072	2,033	2,104	2,021	2,048	2,189	2,428	2,346	2,289
Net Nonoperating Expense (NNE)	22	15	23	40	21	37	15	13	-64	115	21
Net Nonoperating Obligations (NNO)	4,554	4,571	4,739	4,778	4,739	4,697	4,811	4,917	4,907	4,947	4,973
Total Depreciation and Amortization (D&A)	38	42	43	45	41	43	43	45	44	41	39
Debt-free, Cash-free Net Working Capital to Revenue	31.79%	30.32%	32.02%	33.43%	32.21%	30.06%	31.40%	33.89%	33.66%	-	33.27%
Debt-free Net Working Capital to Revenue	42.45%	42.46%	43.59%	43.12%	43.53%	40.69%	41.19%	43.11%	48.21%	-	44.98%
Net Working Capital to Revenue	42.45%	42.46%	43.59%	43.12%	43.53%	40.69%	41.19%	43.11%	48.21%	-	44.98%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.16	$1.02	$1.32	$1.04	$2.38	$1.42	$1.60	$1.98	($0.07)	($12.35)	$0.64
Adjusted Weighted Average Basic Shares Outstanding	35.52M	35.18M	35.16M	35.06M	34.91M	34.91M	34.54M	34.60M	34.61M	34.31M	34.34M
Adjusted Diluted Earnings per Share	$1.09	$0.96	$1.22	$0.98	$2.12	$1.29	$1.46	$1.77	($0.07)	($12.00)	$0.64
Adjusted Weighted Average Diluted Shares Outstanding	35.52M	35.18M	35.16M	35.06M	34.91M	34.91M	34.54M	34.60M	34.61M	34.31M	34.34M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	35.52M	35.18M	35.16M	35.06M	34.91M	34.91M	34.54M	34.60M	34.61M	34.31M	34.34M
Normalized Net Operating Profit after Tax (NOPAT)	68	73	81	91	107	115	83	111	48	-337	67
Normalized NOPAT Margin	5.74%	6.13%	6.75%	7.99%	8.24%	8.70%	6.89%	8.90%	3.77%	-	5.35%
Pre Tax Income Margin	5.56%	5.36%	6.78%	4.21%	9.04%	4.45%	8.50%	7.54%	0.08%	-	3.58%
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	33.88%	42.06%	50.24%	67.30%	53.23%	49.31%	47.37%	42.08%	78.61%	-	-32.16%
Augmented Payout Ratio	174.27%	160.32%	163.03%	172.96%	98.51%	78.80%	81.14%	66.80%	110.40%	-	-41.52%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends for Marriott Vacations Worldwide (NYSE: VAC) based on the last four years of quarterly statements. The focus is on what may matter most to retail investors: earnings quality, cash flow, leverage, and liquidity.

Solid quarterly operating cash flow in 2025: Cash from continuing operating activities was positive in all four quarters of 2025 (Q1: $8.0M; Q2: $30.0M; Q3: $62.0M; Q4: $6.0M), indicating ongoing cash generation from core operations despite earnings volatility.
Three 2025 quarters showed positive net income: Net income continuing operations was positive in Q1 2025 ($57M), Q2 2025 ($69M), and Q3 2025 ($69M), suggesting earnings resilience outside the standout Q4 period.
Dividend remains stable around $0.79–$0.80 per share: Cash dividends per share were typically around $0.79, with Q4 2025 continuing at $0.80, providing a steady income signal for shareholders.
Strong near-term liquidity on the balance sheet: In Q3 2025, Total Current Assets were about $3.255B vs. Total Current Liabilities of $0.827B, implying a current ratio near 4.0x and solid short-term liquidity.
Free cash flow exists in some quarters: Free cash flow was roughly +$51M in Q3 2025 (CFO $62M minus CAPEX $11M) and +$10M in Q2 2025 (CFO $30M minus CAPEX $20M), signaling the potential to fund dividends and debt repayment from operating cash. In Q4 2025 and Q1 2025, FCF was negative, so this is not yet consistent across the year.
Note & Lease Receivable and other asset quality: Note & Lease Receivable sits around the mid-to-high billions (e.g., $2.522B in Q3 2025), creating a large asset base and potential collateral, though it also reflects reliance on receivables and related credit risk.
Revenue stability in the recent period: Operating revenue generally hovered in the $1.2B–$1.3B range across the 2023–2025 window, suggesting a stable top line rather than rapid growth.
High and rising leverage: Long-term debt stood around $5.64B in Q3 2025 (with total liabilities near $7.68B and total equity around $2.46B), signaling a substantial debt burden and leverage risk for investors.
Q4 2025 non-operating charges weighed on profitability: Q4 2025 included substantial non-operating and restructuring charges (Other Operating Expenses ~$603M; Restructuring Charge ~$31M; Impairment ~$31M) leading to a large net loss for the quarter (Net income -$431M on a consolidated basis), a notable negative deviation from earlier quarters.
Earnings volatility remains a concern: The jump from positive NI in Q2–Q3 2025 to a large Q4 2025 loss underscores earnings volatility and potential sensitivity to non-recurring items and charges.

05/09/26 04:41 AM ETAI Generated. May Contain Errors.

Marriott Vacations Worldwide Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Marriott Vacations Worldwide's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Marriott Vacations Worldwide's net income appears to be on a downward trend, with a most recent value of -$307 million in 2025, falling from $122.80 million in 2015. The previous period was $217 million in 2024. View Marriott Vacations Worldwide's forecast to see where analysts expect Marriott Vacations Worldwide to go next.

Marriott Vacations Worldwide's total operating income in 2025 was -$177 million, based on the following breakdown:

Total Gross Profit: $3.85 billion
Total Operating Expenses: $4.03 billion

Over the last 10 years, Marriott Vacations Worldwide's total revenue changed from $1.81 billion in 2015 to $5.03 billion in 2025, a change of 177.9%.

Marriott Vacations Worldwide's total liabilities were at $7.76 billion at the end of 2025, a 5.4% increase from 2024, and a 445.4% increase since 2015.

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 $406 million as of their latest financial filing in 2025.

Over the last 10 years, Marriott Vacations Worldwide's book value per share changed from 31.43 in 2015 to 57.58 in 2025, a change of 83.2%.

Related Companies

Financial statements for NYSE:VAC last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Marriott Vacations Worldwide (VAC) Financials

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Marriott Vacations Worldwide (VAC) Financials

Annual Income Statements for Marriott Vacations Worldwide

Quarterly Income Statements for Marriott Vacations Worldwide

Annual Cash Flow Statements for Marriott Vacations Worldwide

Quarterly Cash Flow Statements for Marriott Vacations Worldwide

Annual Balance Sheets for Marriott Vacations Worldwide

Quarterly Balance Sheets for Marriott Vacations Worldwide

Annual Metrics And Ratios for Marriott Vacations Worldwide

Quarterly Metrics And Ratios for Marriott Vacations Worldwide

Financials Breakdown Chart

Key Financial Trends

Marriott Vacations Worldwide Financials - Frequently Asked Questions

When does Marriott Vacations Worldwide's fiscal year end?

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

What is Marriott Vacations Worldwide's operating income?

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

How much debt does Marriott Vacations Worldwide have?

How much cash does Marriott Vacations Worldwide have?

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

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