Loading…
Marriott Vacations Worldwide Corporation, a vacation company, engages in vacation ownership, exchange, rental, and resort and property management, along with related businesses, products and services in the United States and internationally. The company operates in two segments, Vacation Ownership and Exchange & Third-Party Management. It develops, markets, sells, finances, rents, and manages vacation ownership and related products under the Marriott Vacation Club, Grand Residences by Marriott, Sheraton Vacation Club, Westin Vacation Club, Hyatt Vacation Club, and Ritz-Carlton Club brands; and holds non-exclusive right to develop, market, and sell whole ownership residential products under the Ritz-Carlton Residences brand name, as well as has a license to use the St. Regis brand for specified fractional ownership products. The company also offers exchange network and membership programs, as well as management services to other resorts and lodging properties through its Interval International and Aqua-Aston businesses. In addition, it provides financing for consumer purchases of vacation ownership products; and renting vacation ownership inventory. The company sells its upper upscale tier vacation ownership products under its brands primarily through a network of resort-based sales centers and certain off-site sales locations. Marriott Vacations Worldwide Corporation was founded in 1984 and is headquartered in Orlando, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $5.0B | $19M | $-308M | $-29M | -15.5% | 1.3% | -241.3% |
| 2024 | $5.0B | $614M | $218M | $148M | 8.9% | 5.1% | -14.2% |
| 2023 | $4.7B | $678M | $254M | $114M | 10.7% | 1.5% | -35.0% |
| 2022 | $4.7B | $832M | $391M | $457M | 15.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 4,656 | 4,727 | 4,967 | 5,032 |
| Operating Revenue | - | 3,289 | 3,166 | 3,278 | 3,334 |
| Cost Of Revenue | - | 2,671 | 2,909 | 3,112 | 3,144 |
| Gross Profit | - | 1,985 | 1,818 | 1,855 | 1,888 |
| Operating Expense | - | 1,188 | 1,231 | 1,306 | 1,456 |
| Selling General And Administration | - | 1,056 | 1,096 | 1,156 | 1,185 |
| Total Expenses | - | 3,859 | 4,140 | 4,418 | 4,600 |
| Operating Income | - | 797 | 587 | 549 | 432 |
| EBITDA | - | 832 | 678 | 614 | 19 |
| Normalized EBITDA | - | 970 | 762 | 691 | 628 |
| EBIT | - | 700 | 543 | 468 | -130 |
| Interest Expense | - | 118 | 145 | 162 | 169 |
| Net Interest Income | - | -118 | -145 | -162 | -169 |
| Other Non Operating Income Expenses | - | 41 | 44 | -4 | 47 |
| Other Income Expense | - | -97 | -40 | -81 | -562 |
| Interest Expense Non Operating | - | 118 | 145 | 162 | 169 |
| Net Non Operating Interest Income Expense | - | -118 | -145 | -162 | -169 |
| Pretax Income | - | 582 | 398 | 306 | -299 |
| Tax Provision | - | 191 | 146 | 89 | 8 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -45.40 | -30.81 | -22.33 | -127.89 |
| Net Income Continuous Operations | - | 391 | 252 | 217 | -307 |
| Net Income From Continuing And Discontinued Operation | - | 391 | 254 | 218 | -308 |
| Net Income From Continuing Operation Net Minority Interest | - | 391 | 254 | 218 | -308 |
| Net Income | - | 391 | 254 | 218 | -308 |
| Net Income Common Stockholders | - | 391 | 254 | 218 | -308 |
| Net Income Including Noncontrolling Interests | - | 391 | 252 | 217 | -307 |
| Normalized Income | - | 483.60 | 307.19 | 272.67 | 173.11 |
| Diluted NI Availto Com Stockholders | - | 391 | 254 | 218 | -308 |
| Basic Average Shares | - | 40.40 | 36.50 | 35.40 | 34.90 |
| Diluted Average Shares | - | 45.20 | 43.50 | 42.10 | 34.90 |
| Reconciled Depreciation | - | 132 | 135 | 146 | 149 |
| Reconciled Cost Of Revenue | - | 2,671 | 2,909 | 3,112 | 3,144 |
| Total Unusual Items | - | -138 | -84 | -77 | -609 |
| Total Unusual Items Excluding Goodwill | - | -138 | -84 | -77 | -609 |
| Minority Interests | - | 0 | 2 | 1 | -1 |
| Special Income Charges | - | -138 | -84 | -77 | -609 |
| Other Special Charges | - | 11 | 13 | 23 | 17 |
| Write Off | - | 2 | 28 | 30 | 106 |
| Impairment Of Capital Assets | - | 2 | 0 | 0 | 471 |
| Restructuring And Mergern Acquisition | - | 125 | 43 | 24 | 15 |
| Depreciation Amortization Depletion Income Statement | - | 132 | 135 | 146 | 149 |
| Depreciation And Amortization In Income Statement | - | 132 | 135 | 146 | 149 |
| General And Administrative Expense | - | 249 | 273 | 237 | 242 |
| Other Gand A | - | 249 | 273 | 237 | 242 |
| Rent Expense Supplemental | - | 382 | 452 | 481 | 523 |
| Other Operating Expenses | - | - | - | 4 | 122 |
| Selling And Marketing Expense | - | 807 | 823 | 919 | 943 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Marriott Vacations Worldwide Corporationthis co. | VAC | $3.0B | - | 1.50 | -15.5% | 434.60 |
| Academy Sports and Outdoors, Inc. | ASO | $3.3B | 8.75 | 1.52 | 17.4% | 7.53 |
| Steven Madden, Ltd. | SHOO | $3.2B | 72.72 | 3.75 | 5.2% | 29.33 |
| The Cheesecake Factory Incorporated | CAKE | $3.2B | 21.37 | 7.27 | 34.0% | 18.01 |
| PHINIA Inc. |
| 2021 | - | - | - | - | - | - | - |
| PHIN |
| $3.0B |
| 23.42 |
| 1.92 |
| 8.2% |
| 8.50 |
| Green Brick Partners, Inc. | GRBK | $3.0B | 9.55 | 1.65 | 17.3% | 7.63 |
| Patrick Industries, Inc. | PATK | $2.8B | 20.96 | 2.39 | 11.4% | 10.19 |
| American Eagle Outfitters, Inc. | AEO | $2.8B | 14.54 | 1.65 | 11.3% | 7.73 |
| Callaway Golf Company | CALY | $2.7B | -6.59 | 1.30 | -19.8% | 17.81 |
| Peer Median | - | 17.75 | 1.78 | 11.4% | 9.34 | |