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Marriott Vacations Worldwide cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$116M in Q3 2026 · $164M over twelve months

Operating cash flow$128M
Capital spending−$12.0M
Free cash flow+$116M
Cash / net income1.6×

Analysis

In Q3 2026, Marriott Vacations Worldwide generated $128M of operating cash flow and spent $12.0M on capital projects, leaving free cash flow of $116M. That is $65.0M more than in Q3 2025 ($51.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $210M; the largest uses were net borrowing (+) / repaid (−) ($570M), dividends ($110M), capital spending ($46.0M); besides operations, cash came from other financing ($294M), other investing ($46.0M); the cash balance fell by $200M.

Operating cash flow was $128M against net income of $82.0M — 1.6× profit, cash ran ahead of reported earnings. The largest differences: prepaid and other assets +$85.0M, deferred revenue −$59.0M, depreciation & amortization +$33.0M.

Free cash flow

Marriott Vacations Worldwide: free cash flow by quarterMarriott Vacations Worldwide: free cash flow by quarter$86.0MQ4 2024−$6.0MQ1 2025−$68.0MQ2 2025$51.0MQ3 2025−$6.0MQ4 2025−$12.0MQ1 2026$66.0MQ2 2026$116MQ3 2026
Operating cash flow less capital spending.
Marriott Vacations Worldwide: operating cash flow against capital spendingMarriott Vacations Worldwide: operating cash flow against capital spendingOperating cash flowCapital spending$100M$14.0MQ4 2024$8.0M$14.0MQ1 2025−$48.0M$20.0MQ2 2025$62.0M$11.0MQ3 2025$6.0M$12.0MQ4 2025−$4.0M$8.0MQ1 2026$80.0M$14.0MQ2 2026$128M$12.0MQ3 2026
Latest (Q3 2026): Operating cash flow $128M, Capital spending $12.0M.

Capital allocation, year by year

Marriott Vacations Worldwide: where the cash came from (up) and went (down), by fiscal yearMarriott Vacations Worldwide: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $343MFY2021: Net borrowing −$233MFY2021: Asset sales $3.0MFY2021: Capital spending −$47.0MFY2021: Buybacks −$78.0MFY2021: Dividends −$23.0M$346MFY2021FY2022: Operating cash flow $522MFY2022: Net borrowing $327MFY2022: Asset sales $97.0MFY2022: Capital spending −$65.0MFY2022: Buybacks −$701MFY2022: Dividends −$99.0M$946MFY2022FY2023: Operating cash flow $232MFY2023: Net borrowing −$156MFY2023: Asset sales $16.0MFY2023: Capital spending −$118MFY2023: Buybacks −$286MFY2023: Dividends −$106M$248MFY2023FY2024: Operating cash flow $205MFY2024: Net borrowing $22.0MFY2024: Asset sales $8.0MFY2024: Capital spending −$57.0MFY2024: Buybacks −$56.0MFY2024: Dividends −$107M$235MFY2024FY2025: Operating cash flow $28.0MFY2025: Net borrowing $435MFY2025: Asset sales $3.0MFY2025: Capital spending −$57.0MFY2025: Buybacks −$61.0MFY2025: Dividends −$110M$466MFY2025
Over these 5 years operating cash flow totalled $1.3B; the largest uses were buybacks ($1.2B) and dividends ($445M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$229M
Debtnone
Net cash$229M
Due within a year$583M

Marriott Vacations Worldwide funds itself: free cash flow was $164M over the last twelve months, with $229M of cash and investments and no debt on the balance sheet ($583M due within a year, 0.4× covered by cash).

Marriott Vacations Worldwide: debt maturities by year (FY2025)Marriott Vacations Worldwide: debt maturities by year (FY2025)$583MYear 1$583MYear 2$358MYear 3$508MYear 4$8.0MYear 5$1.3BAfter year 5
Principal due in each year as disclosed in the annual report, against $229M of cash and investments now.

Where the cash came from and went

Marriott Vacations Worldwide: sources (+) and uses (−) of cash, Q3 2026Marriott Vacations Worldwide: sources (+) and uses (−) of cash, Q3 2026Net borrowing (+) / repaid (−)−$129MOperating cash flow$128MOther financing$64.0MDividends−$28.0MCash drawn (+) / kept (−)−$20.0MCapital spending−$12.0MOther investing−$3.0M
Marriott Vacations Worldwide: sources (+) and uses (−) of cash, TTM to Q3 2026Marriott Vacations Worldwide: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)−$570MOther financing$294MOperating cash flow$210MCash drawn (+) / kept (−)$200MDividends−$110MCapital spending−$46.0MOther investing$46.0MBuybacks−$25.0MExchange rates$1.0M

From profit to cash

Marriott Vacations Worldwide: net income to operating cash flow, Q3 2026Marriott Vacations Worldwide: net income to operating cash flow, Q3 2026Net income$82.0MDepreciation & amortization$33.0MStock-based pay$12.0MReceivables$2.0MInventory$6.0MPayables$17.0MEmployee-related liabilities$18.0MDeferred revenue−$59.0MPrepaid and other assets$85.0MOther liabilities$6.0MOperating cash flow$128M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$128M−$12.0M—−$28.0M−$129M−$20.0M$116M
Q2 2026$80.0M−$14.0M—−$27.0M−$168M$83.0M$66.0M
Q1 2026−$4.0M−$8.0M—−$55.0M−$269M$137M−$12.0M
Q4 2025$6.0M−$12.0M−$25.0M—−$4.0M—−$6.0M
Q3 2025$62.0M−$11.0M—−$27.0M$336M−$265M$51.0M
Q2 2025−$48.0M−$20.0M—−$28.0M$42.0M$19.0M−$68.0M
Q1 2025$8.0M−$14.0M−$36.0M−$55.0M$61.0M$41.0M−$6.0M
Q4 2024$100M−$14.0M−$11.0M−$26.0M$46.0M$19.0M$86.0M

Marriott Vacations Worldwide: income statement and cash flow

Marriott Vacations Worldwide, Q3 2026: revenue $1.4B (+8% year over year), operating margin 11.2%. The chart follows the revenue to costs, profit and cash.

Marriott Vacations Worldwide: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.