Marriott Vacations Worldwide C Financials
This page shows Marriott Vacations Worldwide C (VAC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Leverage and shareholder payouts now dominate the story as revenue holds near $5.0B but internal cash generation fades.
From FY2023 to FY2025, revenue edged up from$4.7B to$5.0B , yet operating cash flow fell from$232M to$28M while debt-to-equity rose from 3.1x to 3.9x. That combination says the business became less self-funding: the higher FY2025 cash balance of$406M was helped by financing inflows of$241M , not by the core operation throwing off more cash.
FY2025’s net loss of
The balance sheet is carrying more of the load: equity fell to
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Marriott Vacations Worldwide C's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Marriott Vacations Worldwide C's revenue grew a modest 1.3% year-over-year to $5.0B. This slow but positive growth earns a score of 39/100.
Marriott Vacations Worldwide C has elevated debt relative to equity (D/E of 3.90), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 23/100, reflecting increased financial risk.
While Marriott Vacations Worldwide C generated $28.0M in operating cash flow, capex of $57.0M consumed most of it, leaving -$29.0M in free cash flow. This results in a low score of 28/100, reflecting heavy capital investment rather than weak cash generation.
Marriott Vacations Worldwide C generates a -15.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 5/100. This is down from 8.9% the prior year.
Marriott Vacations Worldwide C passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Marriott Vacations Worldwide C generates $-0.09 in operating cash flow ($28.0M OCF vs -$308.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Marriott Vacations Worldwide C generated $5.0B in revenue in fiscal year 2025. This represents an increase of 1.3% from the prior year.
Marriott Vacations Worldwide C reported -$308.0M in net income in fiscal year 2025. This represents a decrease of 241.3% from the prior year.
Marriott Vacations Worldwide C earned $-8.84 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 257.6% from the prior year.
Cash & Balance Sheet
Marriott Vacations Worldwide C generated -$29.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 119.6% from the prior year.
Marriott Vacations Worldwide C held $406.0M in cash against $0 in long-term debt as of fiscal year 2025.
Marriott Vacations Worldwide C paid $3.17 per share in dividends in fiscal year 2025. This represents an increase of 3.3% from the prior year.
Marriott Vacations Worldwide C had 34M shares outstanding in fiscal year 2025. This represents a decrease of 2.2% from the prior year.
Margins & Returns
Marriott Vacations Worldwide C's net profit margin was -6.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 10.5 percentage points from the prior year.
Marriott Vacations Worldwide C's ROE was -15.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 24.4 percentage points from the prior year.
Capital Allocation
Marriott Vacations Worldwide C spent $61.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 8.9% from the prior year.
Marriott Vacations Worldwide C invested $57.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 0.0% from the prior year.
VAC Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.3B-5.0% | $1.3B+4.8% | $1.3B+1.4% | $1.2B+3.8% | $1.2B-9.6% | $1.3B+1.7% | $1.3B+14.5% | $1.1B |
| Cost of Revenue | $46.0M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $1.2B | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $64.0M-4.5% | $67.0M+26.4% | $53.0M-13.1% | $61.0M0.0% | $61.0M+3.4% | $59.0M-3.3% | $61.0M+13.0% | $54.0M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $5.0M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $23.0M+135.4% | -$65.0M-2266.7% | $3.0M-88.0% | $25.0M-44.4% | $45.0M+350.0% | $10.0M-70.6% | $34.0M+240.0% | $10.0M |
| Net Income | $22.0M+105.1% | -$431.0M-21450.0% | -$2.0M-102.9% | $69.0M+23.2% | $56.0M+12.0% | $50.0M-40.5% | $84.0M+127.0% | $37.0M |
| EPS (Diluted) | $0.64 | N/A | $-0.07-104.0% | $1.77+21.2% | $1.46 | N/A | $2.12+116.3% | $0.98 |
VAC Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $9.6B-1.2% | $9.8B-3.9% | $10.1B+2.6% | $9.9B+0.1% | $9.9B+0.8% | $9.8B+0.7% | $9.7B+1.3% | $9.6B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $268.0M-34.0% | $406.0M-14.3% | $474.0M+131.2% | $205.0M+4.6% | $196.0M-0.5% | $197.0M0.0% | $197.0M-4.4% | $206.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $3.0B0.0% | $3.0B-5.1% | $3.1B0.0% | $3.1B0.0% | $3.1B0.0% | $3.1B0.0% | $3.1B0.0% | $3.1B |
| Total Liabilities | $7.6B-1.5% | $7.8B+1.0% | $7.7B+3.8% | $7.4B-0.6% | $7.4B+1.1% | $7.4B+0.6% | $7.3B+1.1% | $7.2B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $778.0M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $2.0B-0.1% | $2.0B-19.1% | $2.5B-0.8% | $2.5B+2.0% | $2.4B-0.3% | $2.4B+1.0% | $2.4B+2.0% | $2.4B |
| Retained Earnings | $429.0M-1.2% | $434.0M-51.4% | $893.0M-3.1% | $922.0M+4.7% | $881.0M+3.4% | $852.0M+2.7% | $830.0M+7.4% | $773.0M |
VAC Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.0M-166.7% | $6.0M-90.3% | $62.0M+229.2% | -$48.0M-700.0% | $8.0M-92.0% | $100.0M+38.9% | $72.0M+140.0% | $30.0M |
| Capital Expenditures | $8.0M-33.3% | $12.0M+9.1% | $11.0M-45.0% | $20.0M+42.9% | $14.0M0.0% | $14.0M0.0% | $14.0M+7.7% | $13.0M |
| Free Cash Flow | -$12.0M-100.0% | -$6.0M-111.8% | $51.0M+175.0% | -$68.0M-1033.3% | -$6.0M-107.0% | $86.0M+48.3% | $58.0M+241.2% | $17.0M |
| Investing Cash Flow | $42.0M+423.1% | -$13.0M+7.1% | -$14.0M+44.0% | -$25.0M-38.9% | -$18.0M-100.0% | -$9.0M+50.0% | -$18.0M+5.3% | -$19.0M |
| Financing Cash Flow | -$174.0M-3580.0% | $5.0M-97.7% | $217.0M+325.5% | $51.0M+259.4% | -$32.0M+69.8% | -$106.0M-421.2% | $33.0M+132.4% | -$102.0M |
| Dividends Paid | $55.0M | $0-100.0% | $27.0M-3.6% | $28.0M-49.1% | $55.0M+111.5% | $26.0M | $0-100.0% | $27.0M |
| Share Buybacks | $0-100.0% | $25.0M | $0 | $0-100.0% | $36.0M+227.3% | $11.0M+22.2% | $9.0M-25.0% | $12.0M |
VAC Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 96.3% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 1.8%+34.3pp | -32.6%-32.4pp | -0.2%-5.7pp | 5.5%+0.9pp | 4.7%+0.9pp | 3.8%-2.7pp | 6.4%+3.2pp | 3.3% |
| Return on Equity | 1.1%+22.7pp | -21.6%-21.5pp | -0.1%-2.9pp | 2.8%+0.5pp | 2.3%+0.2pp | 2.1%-1.4pp | 3.5%+1.9pp | 1.6% |
| Return on Assets | 0.2%+4.7pp | -4.4%-4.4pp | -0.0%-0.7pp | 0.7%+0.1pp | 0.6%+0.1pp | 0.5%-0.3pp | 0.9%+0.5pp | 0.4% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 3.84-0.1 | 3.90+0.8 | 3.12+0.1 | 2.98-0.1 | 3.06+0.0 | 3.020.0 | 3.03-0.0 | 3.05 |
| FCF Margin | -0.9%-0.5pp | -0.4%-4.5pp | 4.0%+9.5pp | -5.5%-5.0pp | -0.5%-7.0pp | 6.5%+2.0pp | 4.4%+3.0pp | 1.5% |
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Frequently Asked Questions
What is Marriott Vacations Worldwide C's annual revenue?
Marriott Vacations Worldwide C (VAC) reported $5.0B in total revenue for fiscal year 2025. This represents a 1.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Marriott Vacations Worldwide C's revenue growing?
Marriott Vacations Worldwide C (VAC) revenue grew by 1.3% year-over-year, from $5.0B to $5.0B in fiscal year 2025.
Is Marriott Vacations Worldwide C profitable?
No, Marriott Vacations Worldwide C (VAC) reported a net income of -$308.0M in fiscal year 2025, with a net profit margin of -6.1%.
What is Marriott Vacations Worldwide C's net profit margin?
Marriott Vacations Worldwide C (VAC) had a net profit margin of -6.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Marriott Vacations Worldwide C pay dividends?
Yes, Marriott Vacations Worldwide C (VAC) paid $3.17 per share in dividends during fiscal year 2025.
What is Marriott Vacations Worldwide C's return on equity (ROE)?
Marriott Vacations Worldwide C (VAC) has a return on equity of -15.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Marriott Vacations Worldwide C's free cash flow?
Marriott Vacations Worldwide C (VAC) generated -$29.0M in free cash flow during fiscal year 2025. This represents a -119.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Marriott Vacations Worldwide C's operating cash flow?
Marriott Vacations Worldwide C (VAC) generated $28.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Marriott Vacations Worldwide C's total assets?
Marriott Vacations Worldwide C (VAC) had $9.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Marriott Vacations Worldwide C's capital expenditures?
Marriott Vacations Worldwide C (VAC) invested $57.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Marriott Vacations Worldwide C's debt-to-equity ratio?
Marriott Vacations Worldwide C (VAC) had a debt-to-equity ratio of 3.90 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Marriott Vacations Worldwide C's return on assets (ROA)?
Marriott Vacations Worldwide C (VAC) had a return on assets of -3.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Marriott Vacations Worldwide C's Piotroski F-Score?
Marriott Vacations Worldwide C (VAC) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Marriott Vacations Worldwide C's earnings high quality?
Marriott Vacations Worldwide C (VAC) has an earnings quality ratio of -0.09x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Marriott Vacations Worldwide C?
Marriott Vacations Worldwide C (VAC) scores 16 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.