Filing Flows › Marriott Vacations Worldwide (VAC) › How it makes money
How Marriott Vacations Worldwide (VAC) makes money
Marriott Vacations Worldwide (VAC) made $1.4B of revenue in the third quarter 2026 (Q3 2026), +8% from a year earlier. Sale of vacation ownership products brought in $459M (34%); Cost reimbursements brought in $446M (33%); Management and exchange brought in $212M (16%). Of every dollar of revenue, 11¢ was left as operating profit, 6¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Sale of vacation ownership products | $459M | 33.6% | — | +28% |
| Cost reimbursements | $446M | 32.6% | — | -1% |
| Management and exchange | $212M | 15.5% | — | -0.9% |
| ↳ Exchange and other services revenues | $88.0M | 6.4% | — | +1% |
| ↳ Ancillary revenues | $68.0M | 5.0% | — | -3% |
| ↳ Management Service | $56.0M | 4.1% | — | -2% |
| Rental | $155M | 11.3% | — | +3% |
| Other revenues | $95.0M | 6.9% | — | +6% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.4B | 100.0% |
| Operating profit | $153M | 11.2% |
| Income tax | $31.0M | 2.3% |
| Net earnings | $82.0M | 6.0% |
| Operating cash flow | $128M | 9.4% |
| Free cash flow | $116M | 8.5% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.4B | +8% |
| Q2 2026 | $1.3B | +6% |
| Q1 2026 | $1.3B | +5% |
| Q4 2025 | $1.3B | -0.3% |
| Q3 2025 | $1.3B | -3% |
| Q2 2025 | $1.2B | +9% |
| Q1 2025 | $1.2B | +0.4% |
From Marriott Vacations Worldwide's 10-Q filed Nov 4, 2026 (on EDGAR).
Questions
How does Marriott Vacations Worldwide make money?
Marriott Vacations Worldwide (VAC) made $1.4B of revenue in the third quarter 2026 (Q3 2026), +8% from a year earlier. Sale of vacation ownership products brought in $459M (34%); Cost reimbursements brought in $446M (33%); Management and exchange brought in $212M (16%). Of every dollar of revenue, 11¢ was left as operating profit, 6¢ was left as net earnings.
What is Marriott Vacations Worldwide's biggest business?
Sale of vacation ownership products: $459M in the third quarter 2026, 34% of revenue, +28% from a year earlier.
What is Marriott Vacations Worldwide's profit margin?
Net earnings were $82.0M, 6.0% of revenue, in the third quarter 2026; the operating margin was 11.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.