Filing Flows › Marriott Vacations Worldwide (VAC) › Q4 2025
Marriott Vacations Worldwide (VAC) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
Marriott Vacations Worldwide (VAC) reported revenue of $1.3B for the fourth quarter 2025 (Q4 2025), -0.3% from a year earlier and +5% from the quarter before. Operating margin was -34.1%, net loss $431M (32.6% of revenue).
Marriott Vacations Worldwide, Q4 2025: revenue $1.3B (-0.3% year over year), operating margin -34.1%, net loss $431M, operating cash flow $6.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +5% | -0.3% |
| Operating profit | −$451M | -1467% | — |
| Net earnings | −$431M | — | — |
| Operating cash flow | $6.0M | -90% | -94% |
What changed
Revenue was $1.3B in Q4 2025, roughly flat year over year and up 5% from the previous quarter. Cost reimbursements was the largest line at 35% of revenue.
Operating costs exceeded revenue by $0.45B, an operating margin of -34.1%. Total costs grew 45% against flat revenue. The fastest-growing cost line was Other operating costs (+59%). The quarter ended with a net loss of $0.43B, wider than the previous quarter's $2.0M loss.
Operating cash flow was $0.01B (down 94% 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 $0.39B. Capital expenditures of $0.01B exceeded it, leaving free cash flow of −$0.01B.
Questions
What was Marriott Vacations Worldwide's revenue in the fourth quarter 2025?
Marriott Vacations Worldwide (VAC) reported revenue of $1.3B for the fourth quarter 2025 (Q4 2025), -0.3% from a year earlier and +5% from the quarter before.
Was Marriott Vacations Worldwide profitable in the fourth quarter 2025?
Operating loss was $451M (-34.1% of revenue) and net loss $431M.