Filing Flows › Marriott Vacations Worldwide (VAC) › Q3 2025
Marriott Vacations Worldwide (VAC) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Marriott Vacations Worldwide (VAC) reported revenue of $1.3B for the third quarter 2025 (Q3 2025), -3% from a year earlier and +1% from the quarter before. Operating margin was 2.6%, net loss $2.0M (0.2% of revenue).
Marriott Vacations Worldwide, Q3 2025: revenue $1.3B (-3% year over year), operating margin 2.6%, net loss $2.0M, operating cash flow $62.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +1% | -3% |
| Operating profit | $33.0M | -71% | — |
| Net earnings | −$2.0M | -103% | — |
| Operating cash flow | $62.0M | — | -14% |
| Free cash flow | $51.0M | — | -12% |
What changed
Revenue was $1.3B in Q3 2025, down 3% year over year and up 1% from the previous quarter. Cost Reimbursement was the largest line at 36% of revenue. Sale of vacation ownership products lost $0.03B year over year (down 7%), 69% of the total change.
Operating profit was $0.03B, a 2.6% margin (down 8.7 points year over year). Total costs grew 6% against a revenue fall of 3%. The quarter ended with a net loss of $2.0M, after a profit of $0.07B the previous quarter. Net interest and other expense of $0.03B was the main reason.
Operating cash flow was $0.06B (down 14% year over year). Non-cash charges added back $0.04B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.02B. Capital expenditures of $0.01B left free cash flow of $0.05B.
Questions
What was Marriott Vacations Worldwide's revenue in the third quarter 2025?
Marriott Vacations Worldwide (VAC) reported revenue of $1.3B for the third quarter 2025 (Q3 2025), -3% from a year earlier and +1% from the quarter before.
Was Marriott Vacations Worldwide profitable in the third quarter 2025?
Operating profit was $33.0M (2.6% of revenue) and net loss $2.0M.