MARRIOTT VACATIONS WORLDWIDE Corp VAC
We are a leading global vacation company that offers vacation ownership, exchange, rental and resort and property management, along with related businesses, products and services. As the first major hospitality-branded vacation ownership company, Marriott Vacations Worldwide helped establish the industry and was the first major pure-play independent, public company in the field. Today we are more than a vacation ownership company; we are about vacation experiences.
We are a global leader in vacation ownership with some of the most iconic brands in the industry. We are the exclusive worldwide developer, marketer, seller and manager of vacation ownership and related products under the Marriott Vacation Club, Grand Residences by Marriott, Sheraton Vacation Club, Westin Vacation Club, and Hyatt Vacation Club brands. We are also the exclusive worldwide developer, marketer and seller of vacation ownership and related products under The Ritz-Carlton Club brand, and we have the non-exclusive right to develop, market and sell whole ownership residential products under The Ritz-Carlton Residences brand. We also have a license to use the St. Regis brand for specified fractional ownership products. Interval International is our high-quality vacation ownership exchange service provider that serves as the gateway to vacation experiences around the world, including access to its affiliated resorts. Our Aqua-Aston business provides management services for resorts, hotels, and other third-party vacation property owners.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.67B | $4.62B | $4.41B | $4.36B | $3.62B | $2.62B | $3.98B | $2.79B | $2.05B | $1.87B |
| SG&A | $242.0M | $237.0M | $273.0M | $249.0M | $227.0M | $154.0M | $248.0M | $198.0M | $106.0M | $100.0M |
| Total operating expenses | $5.21B | $4.48B | $4.19B | $3.87B | $3.44B | $2.98B | $3.80B | $2.70B | $1.94B | $1.80B |
| Pre-tax income | -$299.0M | $306.0M | $398.0M | $582.0M | $127.0M | -$340.0M | $225.0M | $103.0M | $240.0M | $198.0M |
| Income tax | $8.0M | $89.0M | $146.0M | $191.0M | $74.0M | $84.0M | $83.0M | $51.0M | $5.0M | $76.0M |
| Net income | -$308.0M | $218.0M | $254.0M | $391.0M | $49.0M | -$275.0M | $138.0M | $55.0M | $235.0M | $122.0M |
| EPS, basic | -8.84 | 6.16 | 6.96 | 9.69 | 1.15 | -6.65 | 3.13 | 1.64 | 8.70 | 4.37 |
| EPS, diluted | -8.84 | 5.61 | 6.28 | 8.77 | 1.13 | -6.65 | 3.09 | 1.61 | 8.49 | 4.29 |
| Shares, diluted (wtd. avg.) | $34.9M | $42.1M | $43.5M | $45.2M | $43.3M | $41.3M | $44.5M | $34.0M | $27.7M | $28.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $406.0M | $197.0M | $574.0M | $854.0M | $803.0M | $992.0M | $701.0M | $614.0M | $491.0M | $213.0M |
| Property, plant and equipment | — | — | — | — | — | — | $751.0M | $951.0M | $583.0M | $203.0M |
| Goodwill | $2.96B | $3.12B | $3.12B | $3.12B | $3.15B | $2.82B | $2.89B | $2.83B | $0 | — |
| Other intangibles | $711.0M | $790.0M | $854.0M | $911.0M | $993.0M | $952.0M | $1.03B | $1.11B | $0 | — |
| Total assets | $9.76B | $9.81B | $9.68B | $9.64B | $9.61B | $8.90B | $9.21B | $9.02B | $2.85B | $2.32B |
| Total liabilities | $7.76B | $7.37B | $7.30B | $7.14B | $6.63B | $6.22B | $6.18B | $5.55B | $1.80B | $1.43B |
| Retained earnings | $434.0M | $852.0M | $742.0M | $593.0M | $275.0M | $272.0M | $569.0M | $523.0M | $529.0M | $334.0M |
| Total equity | $1.99B | $2.44B | $2.38B | $2.50B | $2.99B | $2.68B | $3.03B | $3.46B | $1.04B | $895.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $28.0M | $205.0M | $232.0M | $522.0M | $343.0M | $299.0M | $382.0M | $97.0M | $142.0M | $141.0M |
| Depreciation and amortisation | — | — | — | — | — | — | — | — | $21.0M | $21.0M |
| Stock-based compensation | $38.0M | $33.0M | $31.0M | $39.0M | $51.0M | $36.0M | $33.0M | $29.0M | $16.0M | $14.0M |
| Capital expenditure | $57.0M | $57.0M | $118.0M | $65.0M | $47.0M | $41.0M | $46.0M | $40.0M | $26.0M | $35.0M |
| Investing cash flow | -$70.0M | -$115.0M | -$112.0M | $16.0M | -$213.0M | -$32.0M | $37.0M | -$1.41B | -$38.0M | $34.0M |
| Financing cash flow | $241.0M | -$132.0M | -$401.0M | -$486.0M | -$317.0M | $23.0M | -$331.0M | $1.43B | $171.0M | -$206.0M |
| Dividends paid | $110.0M | $107.0M | $106.0M | $99.0M | $23.0M | $45.0M | $81.0M | $51.0M | $38.0M | $34.0M |
| Buybacks | $61.0M | $56.0M | $286.0M | $701.0M | $78.0M | $82.0M | $465.0M | $96.0M | $88.0M | $178.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001524358-26-000010.
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