Filing Flows › Marriott Vacations Worldwide (VAC) › Q3 2026 › vs Q3 2025
Marriott Vacations Worldwide (VAC) Q3 2026 vs Q3 2025 (year over year)
Marriott Vacations Worldwide's revenue rose $104M (+8%) from $1.3B in Q3 2025 to $1.4B in Q3 2026. The biggest changes: Sale of vacation ownership products +$101M (+28%); Cost reimbursements −$5.0M (-1%); Rental +$5.0M (+3%). Operating margin 11.2% against 2.6% (+8.6 pts).
Marriott Vacations Worldwide, Q3 2026: revenue $1.4B (+8% year over year), operating margin 11.2%, net earnings $82.0M, operating cash flow $128M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 11.2% | 2.6% | +8.6 pts |
| Net margin | 6.0% | -0.2% | +6.2 pts |
| Free cash flow margin | 8.5% | 4.0% | +4.4 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Exchange and other services revenues | $88.0M | $87.0M | $1.0M | +1% |
| Ancillary revenues | $68.0M | $70.0M | −$2.0M | -3% |
| Management Service | $56.0M | $57.0M | −$1.0M | -2% |
| Management and exchange | $212M | $214M | −$2.0M | -0.9% |
| Sale of vacation ownership products | $459M | $358M | $101M | +28% |
| Cost reimbursements | $446M | $451M | −$5.0M | -1% |
| Rental | $155M | $150M | $5.0M | +3% |
| Other revenues | $95.0M | $90.0M | $5.0M | +6% |
| Revenue | $1.4B | $1.3B | $104M | +8% |
| Operating profit | $153M | $33.0M | $120M | +364% |
| Costs & expenses | $1.2B | $1.2B | −$16.0M | -1% |
| Pre-tax earnings | $113M | $1.0M | $112M | 113× |
| Other expense, net | $40.0M | $32.0M | $8.0M | +25% |
| Sales & marketing | $268M | $234M | $34.0M | +15% |
| General & admin | $71.0M | $53.0M | $18.0M | +34% |
| Other operating costs | $875M | $943M | −$68.0M | -7% |
| Net earnings | $82.0M | −$2.0M | $84.0M | — |
| Income tax | $31.0M | $3.0M | $28.0M | +933% |
| Depreciation & amortization | $33.0M | $38.0M | −$5.0M | -13% |
| Share-based compensation | $12.0M | $9.0M | $3.0M | +33% |
| Working capital & other | $1.0M | $17.0M | −$16.0M | -94% |
| Operating cash flow | $128M | $62.0M | $66.0M | +106% |
| Free cash flow (OCF − capex) | $116M | $51.0M | $65.0M | +127% |
| Capital expenditures | $12.0M | $11.0M | $1.0M | +9% |
Questions
How much did Marriott Vacations Worldwide's revenue grow year over year in Q3 2026?
Marriott Vacations Worldwide's revenue rose $104M (+8%) from $1.3B in Q3 2025 to $1.4B in Q3 2026.
What drove Marriott Vacations Worldwide's revenue change in Q3 2026?
Sale of vacation ownership products +$101M (+28%); Cost reimbursements −$5.0M (-1%); Rental +$5.0M (+3%).