Marriott Vacations Worldwide Corporation
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Range $65 – $140
Price Chart
About the company
Marriott Vacations Worldwide Corporation is a prominent global leisure company specializing in the development, marketing, sale, and management of vacation ownership products and associated offerings. Its business operations are structured around two core divisions: Vacation Ownership, and Exchange & Third-Party Management. The corporation oversees numerous vacation ownership brands, including Marriott Vacation Club, Grand Residences by Marriott, Sheraton Vacation Club, Westin Vacation Club, Hyatt Residence Club, and Marriott Vacation Club Pulse.
- CEO
- Matthew E. Avril
- IPO
- 2011
- Employees
- 21,100
- HQ
- Orlando, FL, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $3.50B
- P/E
- -10.65
- Fwd P/E
- 11.83
- PEG
- 0.05
- P/S
- 0.74
- P/B
- 1.72
- EV/EBITDA
- -132.46
- Div Yield
- 3.14%
- Gross Margin
- 20.93%
- Op Margin
- 11.08%
- Net Margin
- -7.09%
- ROE
- -15.70%
- ROIC
- 6.29%
Latest fiscal year · YoY change
- Revenue
- $5.03B+1.3%
- Gross Profit
- $760.00M-59.0%
- Op Income
- $554.00M
- Net Income
- $-308,000,000-241.3%
- EPS
- $-8.83-243.3%
- OCF Growth
- -86.3%
- FCF Growth
- -119.6%
- 52W High
- $131.34
- 52W Low
- $44.58
- 50D MA
- $106.52
- 200D MA
- $81.41
- Beta
- 1.24
- RSI (14)
- 46
- Avg Volume
- 470.88K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Marriott Vacations said Q2 results beat the high end of guidance, with contract sales and EBITDA growth led by new sales and marketing initiatives, and it raised full-year EBITDA and cash flow outlooks.· August 6, 2026
- Contract sales rose 22% year over year to $545 million, with VPG up 23% to $4,477.
- Adjusted EBITDA increased 6% year over year to $215 million, above the midpoint of Q2 guidance.
- Adjusted free cash flow was $87 million in the quarter and $201 million year to date, versus $22 million in the prior-year period.
- Management raised full-year adjusted EBITDA guidance to $805 million to $830 million and adjusted free cash flow guidance to $410 million to $460 million.
- New programs like Tour Logistics, refreshed owner benefits, Premier Vacations, and Inner Circle are being positioned as drivers of second-half growth and future tour flow.
Second-quarter contract sales increased 22% year over year to $545 million, driven by VPG growth of 23% to $4,477. Adjusted EBITDA rose 6% year over year to $215 million, up $12 million versus last year and $20 million above the midpoint of guidance. Development profit increased $14 million to $106 million, while marketing and sales expense declined 150 basis points as a percent of contract sales. Adjusted free cash flow was $87 million in Q2 and $201 million year to date, compared with $22 million year to date last year. For the full year, management now expects contract sales to increase 18% to 20%, adjusted EBITDA to be $805 million to $830 million, and adjusted free cash flow to be $410 million to $460 million. They also expect full-year free cash flow conversion in the mid-50% range and said second-half contract sales should grow 25% to 29%.
Matt Avril framed the quarter as evidence that the company’s turnaround plan is taking hold, emphasizing returning to revenue growth, improving profitability, expanding free cash flow, and maintaining disciplined capital allocation. He highlighted that the company is seeing benefits from stronger owner engagement, higher occupancy, and new commercial initiatives, and said the second-quarter performance supports a higher full-year outlook. His tone was upbeat but measured, repeatedly pointing to more work ahead and promising more detail at the December Investor Day.
Jason Marino focused on the financial leverage in the business and the impact of the new initiatives on margins and cash. He said development profit improved to $106 million, sales and marketing expense improved 150 basis points as a percent of contract sales, and reportability reduced development profit by $15 million in the quarter. He noted net corporate debt of $3.1 billion and leverage of about 4x, down from 4.2x in Q1, and said debt outstanding is about $100 million lower than last June. He also raised the noncore asset sale target to $200 million by the end of 2027, expects $50 million of second-half asset sales this year, and said capital deployment will remain focused on debt repayment, dividends, and opportunistic share repurchases.
Analysts pressed on what drove the quarter, and management said Tour Logistics was important but worked alongside refreshed owner benefit levels, while early contribution from Premier Vacations and Inner Circle began late in the quarter and is expected to support the second half. Questions also focused on recruiting, hotel linkage, and whether higher owner upsell activity requires more inventory; management said talent is coming in, hotel partners are currently only 4 or 5 but there is significant expansion room, and they believe they can grow the ownership base without materially increasing inventory. On capital allocation, management said share repurchases become more likely once leverage moves below 4x, but debt reduction remains the priority.
The bull case from this call is that several new commercial initiatives appear to be working at once, with contract sales, VPG, EBITDA, and cash flow all improving meaningfully. Management described strong July trends, expected second-half acceleration, and a large runway from underpenetrated owner engagement, loyalty, hotel linkage, and event-driven tour flow.
The main risks are that part of the quarter’s improvement depended on late-quarter launches that still need to scale, and management deferred more detail on longer-term earnings power until Investor Day. The company also remains at about 4x leverage, reportability still pressured development profit by $15 million, and management said it will keep prioritizing debt reduction over more aggressive capital returns.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 82.6%
- Shares Outstanding
- 34.34M
- Float Shares
- 28.38M
of shares held by institutions
363 13F filers
Buy/sell ratio 3.33. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for VAC, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Daniel GoldmanHouse · NY10 | Sell | Apr 10, 23 | Filing → |
| Daniel GoldmanHouse · NY10 | Sell | Mar 6, 23 | Filing → |
| Ronald Lee WydenSenate · OR | Sell | Aug 3, 20 | Filing → |
| Ronald Lee WydenSenate · OR | Buy | May 26, 20 | Filing → |
| Ronald Lee WydenSenate · OR | Buy | May 27, 20 | Filing → |
| Ronald Lee WydenSenate · OR | Buy | May 26, 20 | Filing → |
| Ronald Lee WydenSenate · OR | Buy | May 27, 20 | Filing → |
| Greg GianforteHouse · MT00 | Buy | Jan 23, 19 | Filing → |
| Greg GianforteHouse · MT00 | Buy | Dec 31, 18 | Filing → |
| Greg GianforteHouse · MT00 | Sell | Nov 19, 18 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 4.30M | ▲ 37.10K |
| Impactive Capital LP | 4.13M | 0 |
| Vanguard Group Inc | 3.39M | ▲ 234.10K |
| Vanguard Portfolio Management LLC | 1.90M | ▲ 21.15K |
| Dimensional Fund Advisors LP | 1.55M | ▼ 226.42K |
| Fuller & Thaler Asset Management, Inc. | 1.49M | ▼ 209.04K |
| Vanguard Capital Management LLC | 1.35M | ▼ 10.98K |
| State Street Corp | 1.16M | ▲ 9.11K |
| Senvest Management, LLC | 1.13M | ▼ 25.84K |
| New South Capital Management Inc | 953.14K | ▲ 179.40K |
| T. Rowe Price Investment Management, Inc. | 793.39K | ▼ 23.89K |
| Geode Capital Management, LLC | 717.76K | ▲ 34.35K |
Held by 405 ETFs
Biggest fund positions in VAC by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Sep 30, 26 | Gray Jonice M | other | 105 |
| Sep 30, 26 | SHAW WILLIAM JOSEPH | other | 21 |
| Sep 30, 26 | QUAZZO STEPHEN R | other | 21 |
| Sep 30, 26 | Morgan Dianna | other | 21 |
| Sep 30, 26 | GALBREATH LIZANNE | other | 78 |
| Sep 30, 26 | Avril Matthew E | other | 23 |
| Sep 30, 26 | ANDREWS CHARLES ELLIOTT | other | 85 |
| Sep 15, 26 | Gray Jonice M | other | 298 |
| Aug 19, 26 | Asmar Christian | sell | 750,000 |
| Aug 17, 26 | Bukkapatnam Raman | other | 1,051 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our VAC coverage
Recent articles, reports, and earnings notes.
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