View ValuationMarriott Vacations Worldwide 향후 성장Future 기준 점검 4/6Marriott Vacations Worldwide (는) 각각 연간 118.8% 및 16.2% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 102.6% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 11.3% 로 예상됩니다.핵심 정보118.8%이익 성장률102.55%EPS 성장률Hospitality 이익 성장18.1%매출 성장률16.2%향후 자기자본이익률11.28%애널리스트 커버리지Good마지막 업데이트12 May 2026최근 향후 성장 업데이트Price Target Changed • May 11Price target increased by 7.4% to US$83.70Up from US$77.90, the current price target is an average from 10 analysts. New target price is 8.5% above last closing price of US$77.12. Stock is up 10% over the past year. The company is forecast to post earnings per share of US$6.21 next year compared to a net loss per share of US$8.83 last year.공지 • May 07Marriott Vacations Worldwide Corporation Revises Earnings Guidance for 2026Marriott Vacations Worldwide Corporation revised earnings guidance for 2026. The company now expects contract sales to be in the range of $1,815 million to $1,885 million, compared to the previous guidance of $1,745 million to $1,815 million.Price Target Changed • Mar 03Price target increased by 16% to US$73.18Up from US$63.00, the current price target is an average from 11 analysts. New target price is 7.7% above last closing price of US$67.94. Stock is down 4.4% over the past year. The company is forecast to post earnings per share of US$6.02 next year compared to a net loss per share of US$8.83 last year.Price Target Changed • Nov 12Price target decreased by 9.9% to US$82.30Down from US$91.30, the current price target is an average from 10 analysts. New target price is 76% above last closing price of US$46.67. Stock is down 50% over the past year. The company is forecast to post earnings per share of US$6.23 for next year compared to US$6.16 last year.공지 • Nov 06Marriott Vacations Worldwide Corporation Updates Earnings Guidance for the Year 2025Marriott Vacations Worldwide Corporation updated earnings guidance for the year 2025. For the period, the company now expects contract sales of $1,760 million to $1,780 million against previous guidance of $1,740 million to $1,830 million.공지 • Aug 05Marriott Vacations Worldwide Corporation Reiterates Earnings Guidance for the Full Year 2025Marriott Vacations Worldwide Corporation reiterated earnings guidance for the full year 2025. For the year, the company expects contract sales of $1,740 million to $1,830 million compared to previous guidance of $1,740 million to $1,830 million.모든 업데이트 보기Recent updatesPrice Target Changed • May 11Price target increased by 7.4% to US$83.70Up from US$77.90, the current price target is an average from 10 analysts. New target price is 8.5% above last closing price of US$77.12. Stock is up 10% over the past year. The company is forecast to post earnings per share of US$6.21 next year compared to a net loss per share of US$8.83 last year.Seeking Alpha • May 07Marriott Vacations Worldwide: Upside Has Already Traveled EnoughSummary Marriott Vacations Worldwide delivered 43% returns since prior coverage, but I now downgrade from buy to hold as valuation approaches full pricing. VAC's Q1 revenue grew 4.8% YoY, but operating expenses rose 9.2%, compressing net income margin to 1.7% from 4.8%. Cost pressures from inflation and rising debt (Net Debt/EBITDA at 9.2x) warrant caution, though affluent customer base and rental flexibility offer resilience. My updated DDM target price is $78.24, near current levels; technicals show waning buying momentum and increased selling pressure. Read the full article on Seeking Alpha공지 • May 07Marriott Vacations Worldwide Corporation Revises Earnings Guidance for 2026Marriott Vacations Worldwide Corporation revised earnings guidance for 2026. The company now expects contract sales to be in the range of $1,815 million to $1,885 million, compared to the previous guidance of $1,745 million to $1,815 million.Reported Earnings • May 06First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2026 results: EPS: US$0.64 (down from US$1.60 in 1Q 2025). Revenue: US$827.0m (flat on 1Q 2025). Net income: US$22.0m (down 61% from 1Q 2025). Profit margin: 2.7% (down from 6.8% in 1Q 2025). Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) missed analyst estimates by 59%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance.실시간 뉴스 • May 06Marriott Vacations Worldwide Tops Q1 Revenue Forecasts as Market Watches Travel Demand ConcernsQ1 2026 revenue came in at US$1.26b, 4.8% higher year over year and about 5.1% above analyst expectations, while EPS of US$1.24 was below the US$1.60 consensus. Management kept the full-year adjusted EPS guidance midpoint at US$7.43 and had previously signaled softer Q1 contract sales and Adjusted EBITDA, with an expectation of improvement in Q2. The stock recently traded lower by 2.9% as rising geopolitical tensions in the Middle East and higher oil prices weighed on travel-related companies and raised concerns about international travel demand. For you as an investor, the key tension is between solid top-line performance and weaker-than-expected earnings. Revenue growth across cost reimbursements and rental activities points to healthy underlying activity, but profitability came in lighter than analysts projected. Even so, management is holding its full-year adjusted EPS guidance midpoint, which indicates that Q1 results were broadly in line with internal expectations. The recent share move reflects sector-wide pressure linked to geopolitical risk and travel demand worries rather than company-specific news alone. If you follow VAC, it is worth watching how contract sales, Adjusted EBITDA and booking patterns evolve through Q2, especially around peak summer travel. How management discusses demand trends, cost pressures and any adjustments to full-year guidance in upcoming updates will be important for assessing the balance between revenue momentum and earnings quality.내러티브 업데이트 • Apr 30VAC: Future Turnaround Will Be Constrained By Ongoing Execution And Organizational Dysfunction RiskAnalysts now estimate fair value for Marriott Vacations Worldwide at $50, down from $52, reflecting modestly adjusted revenue growth and P/E assumptions, as well as a mix of recent price target increases and rating changes tied to the new CEO and evolving turnaround expectations. Analyst Commentary Recent research on Marriott Vacations Worldwide highlights a split view, with some firms raising price targets and others dialing back expectations or ratings as they reassess the turnaround story and execution under the new CEO.공지 • Apr 21Marriott Vacations Worldwide Corporation to Report Q1, 2026 Results on May 05, 2026Marriott Vacations Worldwide Corporation announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on May 05, 2026내러티브 업데이트 • Apr 13VAC: New Leadership And Owner Engagement Events Will Drive Brand And Asset ValueAnalysts have raised the fair value estimate for Marriott Vacations Worldwide to $105 from $81. This change reflects updated views on the company that incorporate a slightly lower discount rate, adjusted revenue growth expectations, higher projected profit margins, and a lower assumed future P/E multiple.내러티브 업데이트 • Mar 30VAC: Future Turnaround Will Be Limited By Ongoing Organizational Dysfunction RiskAnalysts have increased their price targets on Marriott Vacations Worldwide to a range of roughly $80 to $105, citing progress under the new CEO in addressing sales force issues, using events and experiences to support owner upgrades, and reassessing long term earnings assumptions despite mixed views on how far the turnaround can go. Analyst Commentary Recent Street research paints a mixed picture, with several firms lifting price targets and highlighting progress under new leadership, while others remain cautious about how much the turnaround can ultimately achieve.공지 • Mar 27Marriott Vacations Worldwide Corporation, Annual General Meeting, May 15, 2026Marriott Vacations Worldwide Corporation, Annual General Meeting, May 15, 2026.내러티브 업데이트 • Mar 16VAC: New CEO Execution And Events Focus Will Shape Turnaround ConfidenceThe analyst fair value estimate for Marriott Vacations Worldwide has shifted from $64.00 to $78.60, reflecting a reset of revenue growth and margin expectations as analysts weigh new CEO execution progress against ongoing internal concerns. Analyst Commentary Recent Street research on Marriott Vacations Worldwide reflects a mix of optimism around a potential turnaround under new leadership and caution about execution risks and internal issues.Recent Insider Transactions • Mar 12President & COO recently bought US$1m worth of stockOn the 10th of March, Michael Flaskey bought around 15k shares on-market at roughly US$67.26 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months.공지 • Mar 07Marriott Vacations Worldwide Corporation Announces James Hunter to Transition from Role as General Counsel and Retires on April 1, 2026Marriott Vacations Worldwide Corporation announced that, after nearly 20 years with the Company, Executive Vice President and General Counsel, James Hunter ("Jim") will transition from his role on March 9, 2026 and retire on April 1, 2026. Hunter began his in-house legal career at Marriott International Inc. ("Marriott") in 1994, supporting global development and expansion initiatives. After leading legal support for Marriott’s growth across Asia-Pacific, he relocated to Orlando in 2006 to lead the Law Department of Marriott Vacation Club International, overseeing significant expansion and the launch of the Marriott Vacation Club Destinations points product. He subsequently played a key role in the 2011 spin-off that formed Marriott Vacations Worldwide Corporation and later led legal support for MVW’s merger with ILG in 2018. Throughout his tenure, Hunter was known for building and developing high-performing teams, with several former team members advancing to general counsel roles at other organizations. Hunter has also been a longstanding leader within the vacation ownership industry, including serving as a principal architect of the current Code of Ethics of the American Resort Development Association ("ARDA") and chair of the ARDA General Counsel Council. In addition, as part of his continued community involvement, Hunter will assume the role of president of Florida Citrus Sports in April 2026. Hunter will remain with MVW in an advisory role through April 1, 2026 to assist with the transition.Price Target Changed • Mar 03Price target increased by 16% to US$73.18Up from US$63.00, the current price target is an average from 11 analysts. New target price is 7.7% above last closing price of US$67.94. Stock is down 4.4% over the past year. The company is forecast to post earnings per share of US$6.02 next year compared to a net loss per share of US$8.83 last year.내러티브 업데이트 • Mar 02VAC: Turnaround Hopes Will Be Constrained By Execution And Margin RisksNarrative Update: Marriott Vacations Worldwide The updated analyst price target for Marriott Vacations Worldwide moves to $52 from $46. Analysts point to a potential turnaround under new management, a wider profit margin outlook, and a lower future P/E assumption as key supports for the change.New Risk • Feb 26New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 64% The company is paying a dividend despite having no free cash flows. Dividend yield: 4.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 64% Paying a dividend despite having no free cash flows.Reported Earnings • Feb 26Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: US$8.83 loss per share (down from US$6.16 profit in FY 2024). Revenue: US$5.03b (up 54% from FY 2024). Net loss: US$308.0m (down 241% from profit in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 1.4% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings.공지 • Feb 26+ 1 more updateMarriott Vacations Worldwide Corporation Reports Non-Cash Impairment Charges for the Fourth Quarter Ended December 31, 2025Marriott Vacations Worldwide Corporation reported non-cash impairment charges for the fourth quarter ended December 31, 2025. During the fourth quarter, the Company performed a comprehensive review of its business and recorded a $546 million non-cash impairment charge: $160 million to write down the value of real estate assets identified for disposition; and $184 million primarily to write down goodwill and intangibles related to its previous acquisition of ILG and $27 million for the impairment of vacation ownership units in Khao Lak, Thailand due to the strategy change in Asia Pacific.Declared Dividend • Feb 23Third quarter dividend of US$0.80 announcedShareholders will receive a dividend of US$0.80. Ex-date: 4th March 2026 Payment date: 18th March 2026 Dividend yield will be 5.8%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (64% earnings payout ratio) but not covered by cash flows (176% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 36% over the next 2 years, which should provide support to the dividend and adequate earnings cover.공지 • Feb 20Marriott Vacations Worldwide Corporation Announces Quarterly Cash Dividend, Payable on or Around March 18, 2026Marriott Vacations Worldwide Corporation announced its Board of Directors authorized a quarterly cash dividend of $0.80 per share of common stock. The dividend is payable on or around March 18, 2026, to stockholders of record as of the close of business on March 4, 2026.공지 • Feb 17+ 1 more updateMarriott Vacations Worldwide Corporation Appoints Matthew E. Avril as Chief Executive Officer, Effective February 17, 2026Marriott Vacations Worldwide Corporation announced that its Board of Directors has appointed Matthew (Matt) E. Avril as Chief Executive Officer, effective February 17, 2026. Mr. Avril, age 65, will continue to serve as a member of the Board. Matthew (Matt) E. Avril joined the Company’s Board in March 2025 and has served as interim President and CEO since November 2025. Matthew (Matt) E. Avril served as Interim President and CEO of Marriott Vacations Worldwide since assuming the role in November 2025 after joining the Board of Directors in March 2025. Mr. Avril has over 30 years of executive leadership experience in the hospitality and vacation ownership industry. He has been a self-employed consultant since March 2017 and previously served as Chief Executive Officer of Diamond Resorts International Inc., a hospitality and vacation ownership company, from November 2016 to March 2017. Prior to that, he was Chief Executive Officer-elect for Vistana Signature Experiences Inc. (“Vistana”), a vacation ownership business, from February 2015 to May 2016, after his retirement as President, Hotel Group, for Starwood Hotels & Resorts Worldwide Inc., a publicly traded hotel and leisure company (“Starwood”) – a position he held from September 2008 to December 2012. In this role, he was responsible for hotel operations worldwide for Starwood’s nine hotel brands, consisting of 960 properties in more than approximately 97 countries. He has also held senior leadership roles with Vistana and Starwood Vacation Ownership. In addition to his operational leadership, Mr. Avril previously served as a director and Chairman of the Board of Directors of Franchise Group Inc. from 2019 to 2023 and Babcock & Wilcox Enterprises Inc. from 2018 to 2022. He is a certified public accountant (inactive) and has contributed his financial and governance expertise as a chair and member of various public company boards and committees.내러티브 업데이트 • Feb 16VAC: Underweight Rating And Lower P/E Assumptions Will Pressure SharesAnalysts have lowered their price target on Marriott Vacations Worldwide from $65 to $46, citing updated forecasts that include revised revenue growth, profit margin expectations, a lower assumed future P/E multiple, and a recent downgrade to Underweight from Morgan Stanley research. Analyst Commentary Bearish analysts are flagging that the lower price target to $46 reflects a more cautious stance on both valuation and execution.내러티브 업데이트 • Feb 02VAC: Execution Reset And Leadership Transition Will Unlock Brand And Asset ValueAnalysts have trimmed their blended price target for Marriott Vacations Worldwide to about US$81. The shift reflects recent underweight and downgraded ratings that point to execution issues, mixed earnings, and a period of management transition, even as some firms continue to highlight the company’s underlying brand and asset value.공지 • Jan 27Marriott Vacations Worldwide Corporation to Report Q4, 2025 Results on Feb 25, 2026Marriott Vacations Worldwide Corporation announced that they will report Q4, 2025 results After-Market on Feb 25, 2026내러티브 업데이트 • Jan 19VAC: Execution Reset And Leadership Change Will Unlock Depressed Earnings MultipleAnalysts have reduced their price target on Marriott Vacations Worldwide to US$81 from about US$92. This reflects updated assumptions for slightly softer revenue growth, lower profit margins, a higher future P/E multiple, and recent Street research that highlights execution challenges, industry headwinds, and a transition period for the business.공지 • Jan 16Grupo Alojica AenP and Royalton Hotels International Ltd. acquired Starwood Cancun, S. De R.L. De C.V. from Marriott Vacations Worldwide Corporation (NYSE:VAC).Grupo Alojica AenP and Royalton Hotels International Ltd. acquired Starwood Cancun, S. De R.L. De C.V. from Marriott Vacations Worldwide Corporation (NYSE:VAC) on January 15, 2026. Grupo Alojica AenP and Royalton Hotels International Ltd. completed the acquisition of Starwood Cancun, S. De R.L. De C.V. from Marriott Vacations Worldwide Corporation (NYSE:VAC) on January 15, 2026.내러티브 업데이트 • Jan 05VAC: Leadership Transition Expected To Reset Execution And Unlock Depressed MultiplesAnalysts have sharply reduced their price target for Marriott Vacations Worldwide to approximately $92 from $127, citing weaker operational execution, industry headwinds, and a more cautious view on the company’s near term earnings power, despite some longer term brand and asset value. Analyst Commentary Recent Street research on Marriott Vacations Worldwide reflects a cautious but not uniformly pessimistic outlook, with several firms recalibrating their models following softer results and operational missteps.내러티브 업데이트 • Dec 20VAC: Execution Reset And CEO Transition Will Shape Future Confidence And Upside PotentialAnalysts modestly reduced our price target for Marriott Vacations Worldwide to reflect a more cautious stance from the Street, with targets now clustered in the mid 50s to low 80s range as analysts cite execution missteps, guidance cuts, and lingering industry headwinds, despite still-recognized asset value. Analyst Commentary Street commentary on Marriott Vacations Worldwide has turned more polarized, with bearish analysts emphasizing a difficult transition period and bullish analysts focusing on asset value and potential recovery in earnings power once execution stabilizes.Declared Dividend • Dec 17Third quarter dividend increased to US$0.80Dividend of US$0.80 is 1.3% higher than last year. Ex-date: 24th December 2025 Payment date: 7th January 2026 Dividend yield will be 5.5%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (64% earnings payout ratio) but not covered by cash flows (176% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 2 years, which should provide support to the dividend and adequate earnings cover.공지 • Dec 12Marriott Vacations Worldwide Corporation Announces Quarterly Cash Dividend, Payable on or Around January 7, 2026Marriott Vacations Worldwide Corporation announced that its Board of Directors increased its quarterly dividend to $0.80 per share of common stock. The dividend is payable on or around January 7, 2026, to stockholders of record as of the close of business on December 24, 2025.내러티브 업데이트 • Dec 06VAC: Improved Execution Will Restore Confidence And Unlock Long-Term UpsideAnalysts have lowered their fair value estimate for Marriott Vacations Worldwide by about $4 to approximately $64 per share. This reflects reduced revenue growth expectations, a lower future P/E multiple, and lingering concerns over execution and industry headwinds, despite slightly improved margin assumptions.내러티브 업데이트 • Nov 22VAC: Improved Execution Will Drive Future Upside Amid Transition PeriodThe analyst price target for Marriott Vacations Worldwide has declined significantly from $86.80 to $68.00, as analysts cite ongoing operational challenges and diminished earnings prospects for the company. Analyst Commentary Analysts have provided a range of updated assessments for Marriott Vacations Worldwide, highlighting both potential strengths and numerous risks facing the company in the near term.Recent Insider Transactions • Nov 16Independent Chairman of the Board recently bought US$921k worth of stockOn the 14th of November, William Shaw bought around 20k shares on-market at roughly US$46.04 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was William's only on-market trade for the last 12 months.Valuation Update With 7 Day Price Move • Nov 13Investor sentiment deteriorates as stock falls 30%After last week's 30% share price decline to US$47.21, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 17x in the Hospitality industry in the US. Total loss to shareholders of 64% over the past three years.분석 기사 • Nov 12Marriott Vacations Worldwide Corporation (NYSE:VAC) Stock's 28% Dive Might Signal An Opportunity But It Requires Some ScrutinyUnfortunately for some shareholders, the Marriott Vacations Worldwide Corporation ( NYSE:VAC ) share price has dived...공지 • Nov 12Marriott Vacations Worldwide Corporation Announces Retirement of Brian E. Miller as President, Vacation Ownership, Effective December 31, 2025Marriott Vacations Worldwide Corporation announced that Brian E. Miller, President, Vacation Ownership, will retire from his current position on December 31, 2025, following a distinguished career spanning more than three decades with the company. Mr. Miller will remain as an advisor to the Company’s President and Chief Executive Officer through March 27, 2026. During his tenure, Mr. Miller has played a pivotal role in shaping MVW’s vacation ownership business, guiding the organization through significant company milestones and industry transformations. His leadership has been instrumental in driving operational excellence, enhancing guest and owner satisfaction, and strengthening the company’s reputation as a global leader in hospitality. As part of the planned transition, upon Mr. Miller’s retirement, effective January 1, 2026, Stephanie Sobeck Butera, Executive Vice President and Chief Operating Officer, Hyatt Vacation Ownership, and John Fitzgerald, Executive Vice President and Chief Marketing, Sales & Service Officer, will report directly to the President and CEO of Marriott Vacations Worldwide. Additional organizational shifts resulting from Mr. Miller’s retirement will be announced at a later date.Price Target Changed • Nov 12Price target decreased by 9.9% to US$82.30Down from US$91.30, the current price target is an average from 10 analysts. New target price is 76% above last closing price of US$46.67. Stock is down 50% over the past year. The company is forecast to post earnings per share of US$6.23 for next year compared to US$6.16 last year.공지 • Nov 10+ 1 more updateMarriott Vacations Worldwide Announces Executive Changes, Effective November 10, 2025On November 9, 2025, John E. Geller, Jr., the President and a member of the Board of Directors, of Marriott Vacations Worldwide Corporation, resigned at the Board’s request from his role as President, effective November 10, 2025. On November 8, 2025, the Board appointed Matthew E. Avril to serve as the Company’s Interim President to succeed Mr. Geller immediately upon the effectiveness of Mr. Geller’s resignation on November 10, 2025. Mr. Avril currently serves as a member of the Board and will continue in that role as well. Mr. Avril, age 64, has served as a member of the Board since February 2025. Mr. Avril has over 30 years of executive experience, principally in the hospitality and vacation ownership industry. Mr. Avril has been a self-employed consultant since March 2017. He previously served as Chief Executive Officer of Diamond Resorts International Inc., a hospitality and vacation ownership company, from November 2016 to March 2017. Prior to that, he was Chief Executive Officer-elect for Vistana Signature Experiences Inc. (“Vistana”), a vacation ownership business, from February 2015 to May 2016, after his retirement as President, Hotel Group, for Starwood Hotels & Resorts Worldwide Inc., a publicly traded hotel and leisure company (“Starwood”) – a position he held from September 2008 to December 2012. In this role, he was responsible for hotel operations worldwide for Starwood’s nine hotel brands, consisting of 960 properties in more than approximately 97 countries. Before that, from 2002 to 2008, he served in a number of executive leadership positions with Starwood, and from 1989 to 1998, held various senior leadership positions with Vistana including President and Managing Director of Operations. Mr. Avril previously served as a director and Chairman of the Board of Directors of Franchise Group Inc. and Babcock & Wilcox Enterprises Inc. As a result of Mr. Avril’s appointment as Interim President and CEO, Mr. Avril has stepped down from the Audit Committee of the Board.내러티브 업데이트 • Nov 08VAC: Improved Profit Margins Will Drive Recovery Despite Earnings SetbackThe average analyst price target for Marriott Vacations Worldwide has been lowered from $91.90 to $86.80, as analysts cite underperformance in recent earnings and a weaker than anticipated adjusted EBITDA outlook. Analyst Commentary Recent analyst reports reflect a more cautious sentiment on Marriott Vacations Worldwide, with shifts in both positive and negative outlooks regarding the company's valuation and execution after the latest earnings report.Reported Earnings • Nov 06Third quarter 2025 earnings: EPS and revenues miss analyst expectationsThird quarter 2025 results: US$0.057 loss per share (down from US$2.38 profit in 3Q 2024). Revenue: US$1.26b (up 52% from 3Q 2024). Net loss: US$2.00m (down 102% from profit in 3Q 2024). Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings.공지 • Nov 06Marriott Vacations Worldwide Corporation Updates Earnings Guidance for the Year 2025Marriott Vacations Worldwide Corporation updated earnings guidance for the year 2025. For the period, the company now expects contract sales of $1,760 million to $1,780 million against previous guidance of $1,740 million to $1,830 million.공지 • Oct 14Marriott Vacations Worldwide Corporation to Report Q3, 2025 Results on Nov 05, 2025Marriott Vacations Worldwide Corporation announced that they will report Q3, 2025 results After-Market on Nov 05, 2025Declared Dividend • Sep 08Second quarter dividend of US$0.79 announcedShareholders will receive a dividend of US$0.79. Ex-date: 17th September 2025 Payment date: 1st October 2025 Dividend yield will be 4.0%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (42% earnings payout ratio) but not covered by cash flows (158% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 5.1% over the next year, which should provide support to the dividend and adequate earnings cover.공지 • Sep 04Marriott Vacations Worldwide Corporation Announces Quarterly Cash Dividend, Payable on or Around October 1, 2025Marriott Vacations Worldwide Corporation announced its Board of Directors authorized a quarterly cash dividend of $0.79 per share of common stock. The dividend is payable on or around October 1, 2025, to stockholders of record as of the close of business on September 17, 2025.Reported Earnings • Aug 05Second quarter 2025 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2025 results: EPS: US$1.98 (up from US$1.05 in 2Q 2024). Revenue: US$839.0m (up 10% from 2Q 2024). Net income: US$69.0m (up 87% from 2Q 2024). Profit margin: 8.2% (up from 4.9% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 7.7%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings.공지 • Aug 05Marriott Vacations Worldwide Corporation Reiterates Earnings Guidance for the Full Year 2025Marriott Vacations Worldwide Corporation reiterated earnings guidance for the full year 2025. For the year, the company expects contract sales of $1,740 million to $1,830 million compared to previous guidance of $1,740 million to $1,830 million.분석 기사 • Jul 31Is There Now An Opportunity In Marriott Vacations Worldwide Corporation (NYSE:VAC)?Marriott Vacations Worldwide Corporation ( NYSE:VAC ), might not be a large cap stock, but it saw a significant share...분석 기사 • Jul 15There's No Escaping Marriott Vacations Worldwide Corporation's (NYSE:VAC) Muted Earnings Despite A 29% Share Price RiseDespite an already strong run, Marriott Vacations Worldwide Corporation ( NYSE:VAC ) shares have been powering on, with...공지 • Jul 15Marriott Vacations Worldwide Corporation to Report Q2, 2025 Results on Aug 04, 2025Marriott Vacations Worldwide Corporation announced that they will report Q2, 2025 results After-Market on Aug 04, 2025분석 기사 • Jul 05Is There An Opportunity With Marriott Vacations Worldwide Corporation's (NYSE:VAC) 48% Undervaluation?Key Insights Using the 2 Stage Free Cash Flow to Equity, Marriott Vacations Worldwide fair value estimate is US$155...공지 • Jun 30+ 4 more updatesMarriott Vacations Worldwide Corporation(NYSE:VAC) dropped from Russell 1000 IndexMarriott Vacations Worldwide Corporation(NYSE:VAC) dropped from Russell 1000 Index분석 기사 • Jun 20Marriott Vacations Worldwide's (NYSE:VAC) Returns Have Hit A WallThere are a few key trends to look for if we want to identify the next multi-bagger. Amongst other things, we'll want...Board Change • Jun 10High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Christian Asmar was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Declared Dividend • May 15First quarter dividend of US$0.79 announcedShareholders will receive a dividend of US$0.79. Ex-date: 23rd May 2025 Payment date: 6th June 2025 Dividend yield will be 4.4%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (48% earnings payout ratio) and cash flows (71% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 11% over the next year, which should provide support to the dividend and adequate earnings cover.공지 • May 13Marriott Vacations Worldwide Corporation Announces Quarterly Cash Dividend, Payable on or Around June 6, 2025Marriott Vacations Worldwide Corporation announced its Board of Directors authorized a quarterly cash dividend of $0.79 per share of common stock. The dividend is payable on or around June 6, 2025, to stockholders of record as of the close of business on May 23, 2025.Price Target Changed • May 09Price target decreased by 7.3% to US$88.40Down from US$95.40, the current price target is an average from 10 analysts. New target price is 37% above last closing price of US$64.65. Stock is down 35% over the past year. The company is forecast to post earnings per share of US$6.64 for next year compared to US$6.16 last year.분석 기사 • May 09Marriott Vacations Worldwide Corporation's (NYSE:VAC) Shares Bounce 26% But Its Business Still Trails The MarketMarriott Vacations Worldwide Corporation ( NYSE:VAC ) shareholders are no doubt pleased to see that the share price has...Reported Earnings • May 08First quarter 2025 earnings: EPS exceeds analyst expectationsFirst quarter 2025 results: EPS: US$1.60 (up from US$1.32 in 1Q 2024). Revenue: US$1.20b (up 49% from 1Q 2024). Net income: US$56.0m (up 19% from 1Q 2024). Profit margin: 4.7% (down from 5.8% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.8%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings.Price Target Changed • Apr 22Price target decreased by 7.1% to US$91.90Down from US$98.90, the current price target is an average from 10 analysts. New target price is 73% above last closing price of US$53.05. Stock is down 48% over the past year. The company is forecast to post earnings per share of US$6.69 for next year compared to US$6.16 last year.Valuation Update With 7 Day Price Move • Apr 03Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to US$56.62, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 21x in the Hospitality industry in the US. Total loss to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$102 per share.공지 • Apr 02Marriott Vacations Worldwide Corporation to Report Q1, 2025 Results on May 07, 2025Marriott Vacations Worldwide Corporation announced that they will report Q1, 2025 results After-Market on May 07, 2025분석 기사 • Apr 01Should You Investigate Marriott Vacations Worldwide Corporation (NYSE:VAC) At US$64.24?While Marriott Vacations Worldwide Corporation ( NYSE:VAC ) might not have the largest market cap around , it received...공지 • Mar 28Marriott Vacations Worldwide Corporation, Annual General Meeting, May 13, 2025Marriott Vacations Worldwide Corporation, Annual General Meeting, May 13, 2025.분석 기사 • Mar 16Marriott Vacations Worldwide's (NYSE:VAC) Returns Have Hit A WallWhat trends should we look for it we want to identify stocks that can multiply in value over the long term? Amongst...Seeking Alpha • Mar 15Marriott Vacations: Time To Own Shares In This TimeshareSummary Marriott Vacations Worldwide Corporation shows strong financial performance with an 11.1% YoY revenue increase, despite inflationary pressures. VAC's strategic locations and large market presence drive growth, targeting high-net-worth individuals and leveraging tourism resilience. The stock is underpriced with improving technicals, offering a 22.8% upside potential based on DCF and Dividend Discount Models. Despite weak momentum, VAC's solid fundamentals and growth prospects make it an ideal buy for investors. Read the full article on Seeking AlphaRecent Insider Transactions • Mar 12CEO, President & Director recently bought US$360k worth of stockOn the 6th of March, John Geller bought around 5k shares on-market at roughly US$72.04 per share. This transaction amounted to 3.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was John's only on-market trade for the last 12 months.Reported Earnings • Feb 27Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: US$6.16 (down from US$6.96 in FY 2023). Revenue: US$4.97b (up 57% from FY 2023). Net income: US$218.0m (down 14% from FY 2023). Profit margin: 4.4% (down from 8.0% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 3.3% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings.공지 • Feb 27Marriott Vacations Worldwide Corporation Provides Earnings Guidance for the Full Year 2025Marriott Vacations Worldwide Corporation provided earnings guidance for the full year 2025. For the year, the company expects contract sales of $1,850 million to $1,925 million.Declared Dividend • Feb 25Third quarter dividend of US$0.79 announcedShareholders will receive a dividend of US$0.79. Ex-date: 5th March 2025 Payment date: 19th March 2025 Dividend yield will be 3.6%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (53% earnings payout ratio) but not covered by cash flows (160% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 42% over the next 2 years, which should provide support to the dividend and adequate earnings cover.공지 • Feb 24Marriott Vacations Worldwide Corporation Announces Board ChangesMarriott Vacations Worldwide Corporation announced the appointment of hospitality industry leaders, Matthew Avril and James (“Jim”) Dausch, as independent directors of the Board. The Company also announced the retirement of Melquiades (“Mel”) Martinez and Raymond (“Rip”) Gellein as members of the Board effective immediately prior to the Company’s annual meeting of its stockholders, which is expected to take place in May 2025. Mr. Avril has over 30 years of executive experience, principally in the hospitality and vacation ownership industries, and most recently served as Chief Executive Officer of Diamond Resorts International Inc. Prior to that, he was Chief Executive Officer-elect for Vistana Signature Experiences Inc. (“Vistana”) after his retirement as President, Hotel Group, at Starwood Hotels & Resorts Worldwide Inc. (“Starwood”). Before that, he served in several executive leadership positions with Starwood, and held various senior leadership positions with Vistana, including as President and Managing Director of Operations. Mr. Avril is a CPA (inactive status) and his experience in hospitality and vacation ownership includes marketing and sales, finance and accounting, resort operations, technical operations and human resources. Mr. Dausch is a senior executive with over 25 years of experience conceptualizing and leading the execution of transformational, growth-focused strategies at well-known brands, including Marriott International Inc., and is currently Global Chief Digital and Technology Officer, Pizza Hut at Yum! Brands Inc. Prior to that, Mr. Dausch served as Executive Vice President and Chief Customer Officer at Under Armour Inc. Prior to that, his career at Marriott International spanned over 20 years in various senior leadership positions including as Chief Digital and Transformation Officer, with increasing leadership responsibility in the areas of operations, corporate finance, sales and marketing, brand management, franchising, and digital and technology.공지 • Feb 20Marriott Vacations Worldwide Corporation Announces Quarterly Cash Dividend, Payable on or Around March 19, 2025Marriott Vacations Worldwide Corporation announced its Board of Directors authorized a quarterly cash dividend of $0.79 per share of common stock. The dividend is payable on or around March 19, 2025, to stockholders of record as of the close of business on March 5, 2025.분석 기사 • Feb 14A Piece Of The Puzzle Missing From Marriott Vacations Worldwide Corporation's (NYSE:VAC) Share PriceMarriott Vacations Worldwide Corporation's ( NYSE:VAC ) price-to-earnings (or "P/E") ratio of 14.7x might make it look...공지 • Jan 30Marriott Vacations Worldwide Corporation to Report Q4, 2024 Results on Feb 26, 2025Marriott Vacations Worldwide Corporation announced that they will report Q4, 2024 results After-Market on Feb 26, 2025분석 기사 • Dec 12Marriott Vacations Worldwide's (NYSE:VAC) Shareholders Will Receive A Bigger Dividend Than Last YearThe board of Marriott Vacations Worldwide Corporation ( NYSE:VAC ) has announced that the dividend on 3rd of January...Declared Dividend • Dec 11Third quarter dividend increased to US$0.79Dividend of US$0.79 is 3.9% higher than last year. Ex-date: 19th December 2024 Payment date: 3rd January 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (53% earnings payout ratio) but not covered by cash flows (154% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 40% over the next 2 years, which should provide support to the dividend and adequate earnings cover.분석 기사 • Dec 07Is It Time To Consider Buying Marriott Vacations Worldwide Corporation (NYSE:VAC)?While Marriott Vacations Worldwide Corporation ( NYSE:VAC ) might not have the largest market cap around , it received...공지 • Dec 06Marriott Vacations Worldwide Corporation Announces Increased Quarterly Cash Dividend, Payable on or Around January 3, 2025Marriott Vacations Worldwide Corporation announced its Board of Directors authorized a quarterly cash dividend of $0.79 per share of common stock, an increase of 4% over the Company’s prior dividend. The dividend is payable on or around January 3, 2025, to stockholders of record as of the close of business on December 19, 2024.Seeking Alpha • Nov 26Marriott Vacations: Business Normalizing As Delinquencies StabilizeSummary Marriott Vacations Worldwide has seen a 29% gain over the past year, with recent recovery post-summer volatility, but remains below Q2 highs. Q3 results showed a $1.80 EPS, beating estimates by $0.20, with revenue up 10% to $1.3 billion, driven by Hawaii's recovery. Financing revenue rose 7%, but credit quality issues persist, with $281 million past due and $516 million in reserves, posing potential risks. Despite stabilizing delinquencies and cost-saving measures, I maintain a "hold" rating on VAC, seeing shares as fairly valued with an 8% free cash flow yield. Read the full article on Seeking Alpha분석 기사 • Nov 14There May Be Reason For Hope In Marriott Vacations Worldwide's (NYSE:VAC) Disappointing EarningsMarriott Vacations Worldwide Corporation's ( NYSE:VAC ) stock was strong despite it releasing a soft earnings report...분석 기사 • Nov 10A Piece Of The Puzzle Missing From Marriott Vacations Worldwide Corporation's (NYSE:VAC) 30% Share Price ClimbMarriott Vacations Worldwide Corporation ( NYSE:VAC ) shares have continued their recent momentum with a 30% gain in...Price Target Changed • Nov 08Price target increased by 7.2% to US$96.30Up from US$89.85, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of US$95.60. Stock is up 25% over the past year. The company is forecast to post earnings per share of US$5.49 for next year compared to US$6.96 last year.공지 • Nov 08Marriott Vacations Worldwide Promotes Scott Weisz to Executive Vice President, Strategic Business OperationsMarriott Vacations Worldwide Corporation announced that Scott Weisz has been promoted to Executive Vice President, Strategic Business Operations at the Company. As a member of the Company’s Executive Committee, Weisz now reports directly to John Geller, President and Chief Executive Officer. In his role, Weisz will lead the enterprise’s work to accelerate core and new product growth, as well as help drive additional operating efficiencies through continued business modernization. Weisz has held several leadership roles in his more than 20 years with the Company, including leading global inventory and revenue management strategies, and overseeing the east region of The Marriott Vacation Club’s vacation ownership business. Over the course of his career, he has held several positions of increased responsibility in feasibility and business planning and asset management where he was involved in new project development, delivery, and business optimization.Reported Earnings • Nov 07Third quarter 2024 earnings: EPS and revenues exceed analyst expectationsThird quarter 2024 results: EPS: US$2.38 (up from US$1.15 in 3Q 2023). Revenue: US$1.31b (up 76% from 3Q 2023). Net income: US$84.0m (up 100% from 3Q 2023). Profit margin: 6.4% (up from 5.7% in 3Q 2023). Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 37%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings.공지 • Nov 07Marriott Vacations Worldwide Corporation Provides Earnings Guidance for the Full Year 2024Marriott Vacations Worldwide Corporation provided earnings guidance for the full year 2024. For the year, the company expects contract sales of $1,790 million to $1,825 million. Net income attributable to common shareholders of $225 million to $240 million. Earnings per share diluted of $5.80 to $6.15.분석 기사 • Oct 29Returns On Capital At Marriott Vacations Worldwide (NYSE:VAC) Have StalledThere are a few key trends to look for if we want to identify the next multi-bagger. Typically, we'll want to notice a...공지 • Oct 02Marriott Vacations Worldwide Corporation to Report Q3, 2024 Results on Nov 06, 2024Marriott Vacations Worldwide Corporation announced that they will report Q3, 2024 results After-Market on Nov 06, 2024새 내러티브 • Sep 09Calculated Shifts And Resort Expansions Set To Propel The Company's Growth And Market Share Efforts to expand the customer base through increased first-time buyer tours and adjustments in sales promotions indicate proactive strategies to boost future revenues.Declared Dividend • Sep 08Second quarter dividend of US$0.76 announcedShareholders will receive a dividend of US$0.76. Ex-date: 19th September 2024 Payment date: 3rd October 2024 Dividend yield will be 4.2%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but not covered by cash flows (101% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next year, which should provide support to the dividend and adequate earnings cover.공지 • Sep 05Marriott Vacations Worldwide Corporation Announces Quarterly Cash Dividend, Payable on or Around October 3, 2024Marriott Vacations Worldwide Corporation announced its Board of Directors authorized a quarterly cash dividend of $0.76 per share of common stock. The dividend is payable on or around October 3, 2024, to stockholders of record as of the close of business on September 19, 2024.분석 기사 • Aug 24Investors Continue Waiting On Sidelines For Marriott Vacations Worldwide Corporation (NYSE:VAC)Marriott Vacations Worldwide Corporation's ( NYSE:VAC ) price-to-earnings (or "P/E") ratio of 16.1x might make it look...Major Estimate Revision • Aug 09Consensus EPS estimates fall by 26%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$4.98b to US$4.83b. EPS estimate also fell from US$7.23 per share to US$5.36 per share. Net income forecast to grow 53% next year vs 24% growth forecast for Hospitality industry in the US. Consensus price target down from US$114 to US$90.00. Share price fell 9.2% to US$69.62 over the past week.Price Target Changed • Aug 02Price target decreased by 8.3% to US$105Down from US$114, the current price target is an average from 9 analysts. New target price is 37% above last closing price of US$76.66. Stock is down 30% over the past year. The company is forecast to post earnings per share of US$6.37 for next year compared to US$6.96 last year.New Risk • Aug 01New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 25% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (4.7% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.1% net profit margin).이익 및 매출 성장 예측NYSE:VAC - 애널리스트 향후 추정치 및 과거 재무 데이터 (USD Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/20285,412N/A299N/A412/31/20275,3512933445101012/31/20265,213239325455103/31/20263,334-342-3516N/A12/31/20253,334-308-2928N/A9/30/20253,35817363122N/A6/30/20253,37825969132N/A3/31/20253,301227154210N/A12/31/20243,27821898205N/A9/30/20243,19420369188N/A6/30/20243,105161105238N/A3/31/20243,166214139285N/A12/31/20233,166254114232N/A9/30/20233,202307170291N/A6/30/20233,340374226331N/A3/31/20233,357420250343N/A12/31/20223,289391457522N/A9/30/20223,256364356420N/A6/30/20223,129265354413N/A3/31/20222,994135483532N/A12/31/20212,76249296343N/A9/30/20212,435-49420444N/A6/30/20212,075-121502520N/A3/31/20211,656-197330361N/A12/31/20201,844-275258299N/A9/30/20202,199-164310360N/A6/30/20202,591-111192253N/A3/31/20203,0968179232N/A12/31/20193,151138N/A382N/A9/30/20193,103108N/A210N/A6/30/20192,83381N/A95N/A3/31/20192,43543N/A102N/A12/31/20182,04355N/A97N/A9/30/20181,637130N/A138N/A6/30/20181,474206N/A186N/A3/31/20181,457243N/A119N/A12/31/20171,433235N/A142N/A9/30/20171,497166N/A121N/A6/30/20171,447153N/A134N/A3/31/20171,396141N/A177N/A12/30/20161,280122N/A141N/A9/9/20161,349121N/A99N/A6/17/20161,360115N/A51N/A3/25/20161,366113N/A87N/A1/1/20161,405123N/A118N/A9/11/20151,39590N/A186N/A6/19/20151,40194N/A272N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: VAC 은 향후 3년 동안 수익을 낼 것으로 예상되며, 이는 절약률(3.5%)보다 빠른 성장으로 간주됩니다.수익 vs 시장: VAC (는) 향후 3년 동안 평균 시장 성장보다 높은 수익을 올릴 것으로 예상됩니다.고성장 수익: VAC 향후 3년 내에 수익을 낼 것으로 예상됩니다.수익 대 시장: VAC 의 수익(연간 16.2%)이 US 시장(연간 11.6%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: VAC 의 수익(연간 16.2%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: VAC의 자본 수익률은 3년 후 11.3%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YConsumer-services 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/12 02:22종가2026/05/12 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Marriott Vacations Worldwide Corporation는 19명의 분석가가 다루고 있습니다. 이 중 10명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Brandt MontourBarclaysShaun KelleyBofA Global ResearchTyler BatoryBrean Capital Historical (Janney Montgomery)16명의 분석가 더 보기
Price Target Changed • May 11Price target increased by 7.4% to US$83.70Up from US$77.90, the current price target is an average from 10 analysts. New target price is 8.5% above last closing price of US$77.12. Stock is up 10% over the past year. The company is forecast to post earnings per share of US$6.21 next year compared to a net loss per share of US$8.83 last year.
공지 • May 07Marriott Vacations Worldwide Corporation Revises Earnings Guidance for 2026Marriott Vacations Worldwide Corporation revised earnings guidance for 2026. The company now expects contract sales to be in the range of $1,815 million to $1,885 million, compared to the previous guidance of $1,745 million to $1,815 million.
Price Target Changed • Mar 03Price target increased by 16% to US$73.18Up from US$63.00, the current price target is an average from 11 analysts. New target price is 7.7% above last closing price of US$67.94. Stock is down 4.4% over the past year. The company is forecast to post earnings per share of US$6.02 next year compared to a net loss per share of US$8.83 last year.
Price Target Changed • Nov 12Price target decreased by 9.9% to US$82.30Down from US$91.30, the current price target is an average from 10 analysts. New target price is 76% above last closing price of US$46.67. Stock is down 50% over the past year. The company is forecast to post earnings per share of US$6.23 for next year compared to US$6.16 last year.
공지 • Nov 06Marriott Vacations Worldwide Corporation Updates Earnings Guidance for the Year 2025Marriott Vacations Worldwide Corporation updated earnings guidance for the year 2025. For the period, the company now expects contract sales of $1,760 million to $1,780 million against previous guidance of $1,740 million to $1,830 million.
공지 • Aug 05Marriott Vacations Worldwide Corporation Reiterates Earnings Guidance for the Full Year 2025Marriott Vacations Worldwide Corporation reiterated earnings guidance for the full year 2025. For the year, the company expects contract sales of $1,740 million to $1,830 million compared to previous guidance of $1,740 million to $1,830 million.
Price Target Changed • May 11Price target increased by 7.4% to US$83.70Up from US$77.90, the current price target is an average from 10 analysts. New target price is 8.5% above last closing price of US$77.12. Stock is up 10% over the past year. The company is forecast to post earnings per share of US$6.21 next year compared to a net loss per share of US$8.83 last year.
Seeking Alpha • May 07Marriott Vacations Worldwide: Upside Has Already Traveled EnoughSummary Marriott Vacations Worldwide delivered 43% returns since prior coverage, but I now downgrade from buy to hold as valuation approaches full pricing. VAC's Q1 revenue grew 4.8% YoY, but operating expenses rose 9.2%, compressing net income margin to 1.7% from 4.8%. Cost pressures from inflation and rising debt (Net Debt/EBITDA at 9.2x) warrant caution, though affluent customer base and rental flexibility offer resilience. My updated DDM target price is $78.24, near current levels; technicals show waning buying momentum and increased selling pressure. Read the full article on Seeking Alpha
공지 • May 07Marriott Vacations Worldwide Corporation Revises Earnings Guidance for 2026Marriott Vacations Worldwide Corporation revised earnings guidance for 2026. The company now expects contract sales to be in the range of $1,815 million to $1,885 million, compared to the previous guidance of $1,745 million to $1,815 million.
Reported Earnings • May 06First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2026 results: EPS: US$0.64 (down from US$1.60 in 1Q 2025). Revenue: US$827.0m (flat on 1Q 2025). Net income: US$22.0m (down 61% from 1Q 2025). Profit margin: 2.7% (down from 6.8% in 1Q 2025). Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) missed analyst estimates by 59%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance.
실시간 뉴스 • May 06Marriott Vacations Worldwide Tops Q1 Revenue Forecasts as Market Watches Travel Demand ConcernsQ1 2026 revenue came in at US$1.26b, 4.8% higher year over year and about 5.1% above analyst expectations, while EPS of US$1.24 was below the US$1.60 consensus. Management kept the full-year adjusted EPS guidance midpoint at US$7.43 and had previously signaled softer Q1 contract sales and Adjusted EBITDA, with an expectation of improvement in Q2. The stock recently traded lower by 2.9% as rising geopolitical tensions in the Middle East and higher oil prices weighed on travel-related companies and raised concerns about international travel demand. For you as an investor, the key tension is between solid top-line performance and weaker-than-expected earnings. Revenue growth across cost reimbursements and rental activities points to healthy underlying activity, but profitability came in lighter than analysts projected. Even so, management is holding its full-year adjusted EPS guidance midpoint, which indicates that Q1 results were broadly in line with internal expectations. The recent share move reflects sector-wide pressure linked to geopolitical risk and travel demand worries rather than company-specific news alone. If you follow VAC, it is worth watching how contract sales, Adjusted EBITDA and booking patterns evolve through Q2, especially around peak summer travel. How management discusses demand trends, cost pressures and any adjustments to full-year guidance in upcoming updates will be important for assessing the balance between revenue momentum and earnings quality.
내러티브 업데이트 • Apr 30VAC: Future Turnaround Will Be Constrained By Ongoing Execution And Organizational Dysfunction RiskAnalysts now estimate fair value for Marriott Vacations Worldwide at $50, down from $52, reflecting modestly adjusted revenue growth and P/E assumptions, as well as a mix of recent price target increases and rating changes tied to the new CEO and evolving turnaround expectations. Analyst Commentary Recent research on Marriott Vacations Worldwide highlights a split view, with some firms raising price targets and others dialing back expectations or ratings as they reassess the turnaround story and execution under the new CEO.
공지 • Apr 21Marriott Vacations Worldwide Corporation to Report Q1, 2026 Results on May 05, 2026Marriott Vacations Worldwide Corporation announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on May 05, 2026
내러티브 업데이트 • Apr 13VAC: New Leadership And Owner Engagement Events Will Drive Brand And Asset ValueAnalysts have raised the fair value estimate for Marriott Vacations Worldwide to $105 from $81. This change reflects updated views on the company that incorporate a slightly lower discount rate, adjusted revenue growth expectations, higher projected profit margins, and a lower assumed future P/E multiple.
내러티브 업데이트 • Mar 30VAC: Future Turnaround Will Be Limited By Ongoing Organizational Dysfunction RiskAnalysts have increased their price targets on Marriott Vacations Worldwide to a range of roughly $80 to $105, citing progress under the new CEO in addressing sales force issues, using events and experiences to support owner upgrades, and reassessing long term earnings assumptions despite mixed views on how far the turnaround can go. Analyst Commentary Recent Street research paints a mixed picture, with several firms lifting price targets and highlighting progress under new leadership, while others remain cautious about how much the turnaround can ultimately achieve.
공지 • Mar 27Marriott Vacations Worldwide Corporation, Annual General Meeting, May 15, 2026Marriott Vacations Worldwide Corporation, Annual General Meeting, May 15, 2026.
내러티브 업데이트 • Mar 16VAC: New CEO Execution And Events Focus Will Shape Turnaround ConfidenceThe analyst fair value estimate for Marriott Vacations Worldwide has shifted from $64.00 to $78.60, reflecting a reset of revenue growth and margin expectations as analysts weigh new CEO execution progress against ongoing internal concerns. Analyst Commentary Recent Street research on Marriott Vacations Worldwide reflects a mix of optimism around a potential turnaround under new leadership and caution about execution risks and internal issues.
Recent Insider Transactions • Mar 12President & COO recently bought US$1m worth of stockOn the 10th of March, Michael Flaskey bought around 15k shares on-market at roughly US$67.26 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months.
공지 • Mar 07Marriott Vacations Worldwide Corporation Announces James Hunter to Transition from Role as General Counsel and Retires on April 1, 2026Marriott Vacations Worldwide Corporation announced that, after nearly 20 years with the Company, Executive Vice President and General Counsel, James Hunter ("Jim") will transition from his role on March 9, 2026 and retire on April 1, 2026. Hunter began his in-house legal career at Marriott International Inc. ("Marriott") in 1994, supporting global development and expansion initiatives. After leading legal support for Marriott’s growth across Asia-Pacific, he relocated to Orlando in 2006 to lead the Law Department of Marriott Vacation Club International, overseeing significant expansion and the launch of the Marriott Vacation Club Destinations points product. He subsequently played a key role in the 2011 spin-off that formed Marriott Vacations Worldwide Corporation and later led legal support for MVW’s merger with ILG in 2018. Throughout his tenure, Hunter was known for building and developing high-performing teams, with several former team members advancing to general counsel roles at other organizations. Hunter has also been a longstanding leader within the vacation ownership industry, including serving as a principal architect of the current Code of Ethics of the American Resort Development Association ("ARDA") and chair of the ARDA General Counsel Council. In addition, as part of his continued community involvement, Hunter will assume the role of president of Florida Citrus Sports in April 2026. Hunter will remain with MVW in an advisory role through April 1, 2026 to assist with the transition.
Price Target Changed • Mar 03Price target increased by 16% to US$73.18Up from US$63.00, the current price target is an average from 11 analysts. New target price is 7.7% above last closing price of US$67.94. Stock is down 4.4% over the past year. The company is forecast to post earnings per share of US$6.02 next year compared to a net loss per share of US$8.83 last year.
내러티브 업데이트 • Mar 02VAC: Turnaround Hopes Will Be Constrained By Execution And Margin RisksNarrative Update: Marriott Vacations Worldwide The updated analyst price target for Marriott Vacations Worldwide moves to $52 from $46. Analysts point to a potential turnaround under new management, a wider profit margin outlook, and a lower future P/E assumption as key supports for the change.
New Risk • Feb 26New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 64% The company is paying a dividend despite having no free cash flows. Dividend yield: 4.7% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 64% Paying a dividend despite having no free cash flows.
Reported Earnings • Feb 26Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: US$8.83 loss per share (down from US$6.16 profit in FY 2024). Revenue: US$5.03b (up 54% from FY 2024). Net loss: US$308.0m (down 241% from profit in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 1.4% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings.
공지 • Feb 26+ 1 more updateMarriott Vacations Worldwide Corporation Reports Non-Cash Impairment Charges for the Fourth Quarter Ended December 31, 2025Marriott Vacations Worldwide Corporation reported non-cash impairment charges for the fourth quarter ended December 31, 2025. During the fourth quarter, the Company performed a comprehensive review of its business and recorded a $546 million non-cash impairment charge: $160 million to write down the value of real estate assets identified for disposition; and $184 million primarily to write down goodwill and intangibles related to its previous acquisition of ILG and $27 million for the impairment of vacation ownership units in Khao Lak, Thailand due to the strategy change in Asia Pacific.
Declared Dividend • Feb 23Third quarter dividend of US$0.80 announcedShareholders will receive a dividend of US$0.80. Ex-date: 4th March 2026 Payment date: 18th March 2026 Dividend yield will be 5.8%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (64% earnings payout ratio) but not covered by cash flows (176% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 36% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
공지 • Feb 20Marriott Vacations Worldwide Corporation Announces Quarterly Cash Dividend, Payable on or Around March 18, 2026Marriott Vacations Worldwide Corporation announced its Board of Directors authorized a quarterly cash dividend of $0.80 per share of common stock. The dividend is payable on or around March 18, 2026, to stockholders of record as of the close of business on March 4, 2026.
공지 • Feb 17+ 1 more updateMarriott Vacations Worldwide Corporation Appoints Matthew E. Avril as Chief Executive Officer, Effective February 17, 2026Marriott Vacations Worldwide Corporation announced that its Board of Directors has appointed Matthew (Matt) E. Avril as Chief Executive Officer, effective February 17, 2026. Mr. Avril, age 65, will continue to serve as a member of the Board. Matthew (Matt) E. Avril joined the Company’s Board in March 2025 and has served as interim President and CEO since November 2025. Matthew (Matt) E. Avril served as Interim President and CEO of Marriott Vacations Worldwide since assuming the role in November 2025 after joining the Board of Directors in March 2025. Mr. Avril has over 30 years of executive leadership experience in the hospitality and vacation ownership industry. He has been a self-employed consultant since March 2017 and previously served as Chief Executive Officer of Diamond Resorts International Inc., a hospitality and vacation ownership company, from November 2016 to March 2017. Prior to that, he was Chief Executive Officer-elect for Vistana Signature Experiences Inc. (“Vistana”), a vacation ownership business, from February 2015 to May 2016, after his retirement as President, Hotel Group, for Starwood Hotels & Resorts Worldwide Inc., a publicly traded hotel and leisure company (“Starwood”) – a position he held from September 2008 to December 2012. In this role, he was responsible for hotel operations worldwide for Starwood’s nine hotel brands, consisting of 960 properties in more than approximately 97 countries. He has also held senior leadership roles with Vistana and Starwood Vacation Ownership. In addition to his operational leadership, Mr. Avril previously served as a director and Chairman of the Board of Directors of Franchise Group Inc. from 2019 to 2023 and Babcock & Wilcox Enterprises Inc. from 2018 to 2022. He is a certified public accountant (inactive) and has contributed his financial and governance expertise as a chair and member of various public company boards and committees.
내러티브 업데이트 • Feb 16VAC: Underweight Rating And Lower P/E Assumptions Will Pressure SharesAnalysts have lowered their price target on Marriott Vacations Worldwide from $65 to $46, citing updated forecasts that include revised revenue growth, profit margin expectations, a lower assumed future P/E multiple, and a recent downgrade to Underweight from Morgan Stanley research. Analyst Commentary Bearish analysts are flagging that the lower price target to $46 reflects a more cautious stance on both valuation and execution.
내러티브 업데이트 • Feb 02VAC: Execution Reset And Leadership Transition Will Unlock Brand And Asset ValueAnalysts have trimmed their blended price target for Marriott Vacations Worldwide to about US$81. The shift reflects recent underweight and downgraded ratings that point to execution issues, mixed earnings, and a period of management transition, even as some firms continue to highlight the company’s underlying brand and asset value.
공지 • Jan 27Marriott Vacations Worldwide Corporation to Report Q4, 2025 Results on Feb 25, 2026Marriott Vacations Worldwide Corporation announced that they will report Q4, 2025 results After-Market on Feb 25, 2026
내러티브 업데이트 • Jan 19VAC: Execution Reset And Leadership Change Will Unlock Depressed Earnings MultipleAnalysts have reduced their price target on Marriott Vacations Worldwide to US$81 from about US$92. This reflects updated assumptions for slightly softer revenue growth, lower profit margins, a higher future P/E multiple, and recent Street research that highlights execution challenges, industry headwinds, and a transition period for the business.
공지 • Jan 16Grupo Alojica AenP and Royalton Hotels International Ltd. acquired Starwood Cancun, S. De R.L. De C.V. from Marriott Vacations Worldwide Corporation (NYSE:VAC).Grupo Alojica AenP and Royalton Hotels International Ltd. acquired Starwood Cancun, S. De R.L. De C.V. from Marriott Vacations Worldwide Corporation (NYSE:VAC) on January 15, 2026. Grupo Alojica AenP and Royalton Hotels International Ltd. completed the acquisition of Starwood Cancun, S. De R.L. De C.V. from Marriott Vacations Worldwide Corporation (NYSE:VAC) on January 15, 2026.
내러티브 업데이트 • Jan 05VAC: Leadership Transition Expected To Reset Execution And Unlock Depressed MultiplesAnalysts have sharply reduced their price target for Marriott Vacations Worldwide to approximately $92 from $127, citing weaker operational execution, industry headwinds, and a more cautious view on the company’s near term earnings power, despite some longer term brand and asset value. Analyst Commentary Recent Street research on Marriott Vacations Worldwide reflects a cautious but not uniformly pessimistic outlook, with several firms recalibrating their models following softer results and operational missteps.
내러티브 업데이트 • Dec 20VAC: Execution Reset And CEO Transition Will Shape Future Confidence And Upside PotentialAnalysts modestly reduced our price target for Marriott Vacations Worldwide to reflect a more cautious stance from the Street, with targets now clustered in the mid 50s to low 80s range as analysts cite execution missteps, guidance cuts, and lingering industry headwinds, despite still-recognized asset value. Analyst Commentary Street commentary on Marriott Vacations Worldwide has turned more polarized, with bearish analysts emphasizing a difficult transition period and bullish analysts focusing on asset value and potential recovery in earnings power once execution stabilizes.
Declared Dividend • Dec 17Third quarter dividend increased to US$0.80Dividend of US$0.80 is 1.3% higher than last year. Ex-date: 24th December 2025 Payment date: 7th January 2026 Dividend yield will be 5.5%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (64% earnings payout ratio) but not covered by cash flows (176% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
공지 • Dec 12Marriott Vacations Worldwide Corporation Announces Quarterly Cash Dividend, Payable on or Around January 7, 2026Marriott Vacations Worldwide Corporation announced that its Board of Directors increased its quarterly dividend to $0.80 per share of common stock. The dividend is payable on or around January 7, 2026, to stockholders of record as of the close of business on December 24, 2025.
내러티브 업데이트 • Dec 06VAC: Improved Execution Will Restore Confidence And Unlock Long-Term UpsideAnalysts have lowered their fair value estimate for Marriott Vacations Worldwide by about $4 to approximately $64 per share. This reflects reduced revenue growth expectations, a lower future P/E multiple, and lingering concerns over execution and industry headwinds, despite slightly improved margin assumptions.
내러티브 업데이트 • Nov 22VAC: Improved Execution Will Drive Future Upside Amid Transition PeriodThe analyst price target for Marriott Vacations Worldwide has declined significantly from $86.80 to $68.00, as analysts cite ongoing operational challenges and diminished earnings prospects for the company. Analyst Commentary Analysts have provided a range of updated assessments for Marriott Vacations Worldwide, highlighting both potential strengths and numerous risks facing the company in the near term.
Recent Insider Transactions • Nov 16Independent Chairman of the Board recently bought US$921k worth of stockOn the 14th of November, William Shaw bought around 20k shares on-market at roughly US$46.04 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was William's only on-market trade for the last 12 months.
Valuation Update With 7 Day Price Move • Nov 13Investor sentiment deteriorates as stock falls 30%After last week's 30% share price decline to US$47.21, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 17x in the Hospitality industry in the US. Total loss to shareholders of 64% over the past three years.
분석 기사 • Nov 12Marriott Vacations Worldwide Corporation (NYSE:VAC) Stock's 28% Dive Might Signal An Opportunity But It Requires Some ScrutinyUnfortunately for some shareholders, the Marriott Vacations Worldwide Corporation ( NYSE:VAC ) share price has dived...
공지 • Nov 12Marriott Vacations Worldwide Corporation Announces Retirement of Brian E. Miller as President, Vacation Ownership, Effective December 31, 2025Marriott Vacations Worldwide Corporation announced that Brian E. Miller, President, Vacation Ownership, will retire from his current position on December 31, 2025, following a distinguished career spanning more than three decades with the company. Mr. Miller will remain as an advisor to the Company’s President and Chief Executive Officer through March 27, 2026. During his tenure, Mr. Miller has played a pivotal role in shaping MVW’s vacation ownership business, guiding the organization through significant company milestones and industry transformations. His leadership has been instrumental in driving operational excellence, enhancing guest and owner satisfaction, and strengthening the company’s reputation as a global leader in hospitality. As part of the planned transition, upon Mr. Miller’s retirement, effective January 1, 2026, Stephanie Sobeck Butera, Executive Vice President and Chief Operating Officer, Hyatt Vacation Ownership, and John Fitzgerald, Executive Vice President and Chief Marketing, Sales & Service Officer, will report directly to the President and CEO of Marriott Vacations Worldwide. Additional organizational shifts resulting from Mr. Miller’s retirement will be announced at a later date.
Price Target Changed • Nov 12Price target decreased by 9.9% to US$82.30Down from US$91.30, the current price target is an average from 10 analysts. New target price is 76% above last closing price of US$46.67. Stock is down 50% over the past year. The company is forecast to post earnings per share of US$6.23 for next year compared to US$6.16 last year.
공지 • Nov 10+ 1 more updateMarriott Vacations Worldwide Announces Executive Changes, Effective November 10, 2025On November 9, 2025, John E. Geller, Jr., the President and a member of the Board of Directors, of Marriott Vacations Worldwide Corporation, resigned at the Board’s request from his role as President, effective November 10, 2025. On November 8, 2025, the Board appointed Matthew E. Avril to serve as the Company’s Interim President to succeed Mr. Geller immediately upon the effectiveness of Mr. Geller’s resignation on November 10, 2025. Mr. Avril currently serves as a member of the Board and will continue in that role as well. Mr. Avril, age 64, has served as a member of the Board since February 2025. Mr. Avril has over 30 years of executive experience, principally in the hospitality and vacation ownership industry. Mr. Avril has been a self-employed consultant since March 2017. He previously served as Chief Executive Officer of Diamond Resorts International Inc., a hospitality and vacation ownership company, from November 2016 to March 2017. Prior to that, he was Chief Executive Officer-elect for Vistana Signature Experiences Inc. (“Vistana”), a vacation ownership business, from February 2015 to May 2016, after his retirement as President, Hotel Group, for Starwood Hotels & Resorts Worldwide Inc., a publicly traded hotel and leisure company (“Starwood”) – a position he held from September 2008 to December 2012. In this role, he was responsible for hotel operations worldwide for Starwood’s nine hotel brands, consisting of 960 properties in more than approximately 97 countries. Before that, from 2002 to 2008, he served in a number of executive leadership positions with Starwood, and from 1989 to 1998, held various senior leadership positions with Vistana including President and Managing Director of Operations. Mr. Avril previously served as a director and Chairman of the Board of Directors of Franchise Group Inc. and Babcock & Wilcox Enterprises Inc. As a result of Mr. Avril’s appointment as Interim President and CEO, Mr. Avril has stepped down from the Audit Committee of the Board.
내러티브 업데이트 • Nov 08VAC: Improved Profit Margins Will Drive Recovery Despite Earnings SetbackThe average analyst price target for Marriott Vacations Worldwide has been lowered from $91.90 to $86.80, as analysts cite underperformance in recent earnings and a weaker than anticipated adjusted EBITDA outlook. Analyst Commentary Recent analyst reports reflect a more cautious sentiment on Marriott Vacations Worldwide, with shifts in both positive and negative outlooks regarding the company's valuation and execution after the latest earnings report.
Reported Earnings • Nov 06Third quarter 2025 earnings: EPS and revenues miss analyst expectationsThird quarter 2025 results: US$0.057 loss per share (down from US$2.38 profit in 3Q 2024). Revenue: US$1.26b (up 52% from 3Q 2024). Net loss: US$2.00m (down 102% from profit in 3Q 2024). Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings.
공지 • Nov 06Marriott Vacations Worldwide Corporation Updates Earnings Guidance for the Year 2025Marriott Vacations Worldwide Corporation updated earnings guidance for the year 2025. For the period, the company now expects contract sales of $1,760 million to $1,780 million against previous guidance of $1,740 million to $1,830 million.
공지 • Oct 14Marriott Vacations Worldwide Corporation to Report Q3, 2025 Results on Nov 05, 2025Marriott Vacations Worldwide Corporation announced that they will report Q3, 2025 results After-Market on Nov 05, 2025
Declared Dividend • Sep 08Second quarter dividend of US$0.79 announcedShareholders will receive a dividend of US$0.79. Ex-date: 17th September 2025 Payment date: 1st October 2025 Dividend yield will be 4.0%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (42% earnings payout ratio) but not covered by cash flows (158% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 5.1% over the next year, which should provide support to the dividend and adequate earnings cover.
공지 • Sep 04Marriott Vacations Worldwide Corporation Announces Quarterly Cash Dividend, Payable on or Around October 1, 2025Marriott Vacations Worldwide Corporation announced its Board of Directors authorized a quarterly cash dividend of $0.79 per share of common stock. The dividend is payable on or around October 1, 2025, to stockholders of record as of the close of business on September 17, 2025.
Reported Earnings • Aug 05Second quarter 2025 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2025 results: EPS: US$1.98 (up from US$1.05 in 2Q 2024). Revenue: US$839.0m (up 10% from 2Q 2024). Net income: US$69.0m (up 87% from 2Q 2024). Profit margin: 8.2% (up from 4.9% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 7.7%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings.
공지 • Aug 05Marriott Vacations Worldwide Corporation Reiterates Earnings Guidance for the Full Year 2025Marriott Vacations Worldwide Corporation reiterated earnings guidance for the full year 2025. For the year, the company expects contract sales of $1,740 million to $1,830 million compared to previous guidance of $1,740 million to $1,830 million.
분석 기사 • Jul 31Is There Now An Opportunity In Marriott Vacations Worldwide Corporation (NYSE:VAC)?Marriott Vacations Worldwide Corporation ( NYSE:VAC ), might not be a large cap stock, but it saw a significant share...
분석 기사 • Jul 15There's No Escaping Marriott Vacations Worldwide Corporation's (NYSE:VAC) Muted Earnings Despite A 29% Share Price RiseDespite an already strong run, Marriott Vacations Worldwide Corporation ( NYSE:VAC ) shares have been powering on, with...
공지 • Jul 15Marriott Vacations Worldwide Corporation to Report Q2, 2025 Results on Aug 04, 2025Marriott Vacations Worldwide Corporation announced that they will report Q2, 2025 results After-Market on Aug 04, 2025
분석 기사 • Jul 05Is There An Opportunity With Marriott Vacations Worldwide Corporation's (NYSE:VAC) 48% Undervaluation?Key Insights Using the 2 Stage Free Cash Flow to Equity, Marriott Vacations Worldwide fair value estimate is US$155...
공지 • Jun 30+ 4 more updatesMarriott Vacations Worldwide Corporation(NYSE:VAC) dropped from Russell 1000 IndexMarriott Vacations Worldwide Corporation(NYSE:VAC) dropped from Russell 1000 Index
분석 기사 • Jun 20Marriott Vacations Worldwide's (NYSE:VAC) Returns Have Hit A WallThere are a few key trends to look for if we want to identify the next multi-bagger. Amongst other things, we'll want...
Board Change • Jun 10High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Christian Asmar was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Declared Dividend • May 15First quarter dividend of US$0.79 announcedShareholders will receive a dividend of US$0.79. Ex-date: 23rd May 2025 Payment date: 6th June 2025 Dividend yield will be 4.4%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (48% earnings payout ratio) and cash flows (71% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 11% over the next year, which should provide support to the dividend and adequate earnings cover.
공지 • May 13Marriott Vacations Worldwide Corporation Announces Quarterly Cash Dividend, Payable on or Around June 6, 2025Marriott Vacations Worldwide Corporation announced its Board of Directors authorized a quarterly cash dividend of $0.79 per share of common stock. The dividend is payable on or around June 6, 2025, to stockholders of record as of the close of business on May 23, 2025.
Price Target Changed • May 09Price target decreased by 7.3% to US$88.40Down from US$95.40, the current price target is an average from 10 analysts. New target price is 37% above last closing price of US$64.65. Stock is down 35% over the past year. The company is forecast to post earnings per share of US$6.64 for next year compared to US$6.16 last year.
분석 기사 • May 09Marriott Vacations Worldwide Corporation's (NYSE:VAC) Shares Bounce 26% But Its Business Still Trails The MarketMarriott Vacations Worldwide Corporation ( NYSE:VAC ) shareholders are no doubt pleased to see that the share price has...
Reported Earnings • May 08First quarter 2025 earnings: EPS exceeds analyst expectationsFirst quarter 2025 results: EPS: US$1.60 (up from US$1.32 in 1Q 2024). Revenue: US$1.20b (up 49% from 1Q 2024). Net income: US$56.0m (up 19% from 1Q 2024). Profit margin: 4.7% (down from 5.8% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.8%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings.
Price Target Changed • Apr 22Price target decreased by 7.1% to US$91.90Down from US$98.90, the current price target is an average from 10 analysts. New target price is 73% above last closing price of US$53.05. Stock is down 48% over the past year. The company is forecast to post earnings per share of US$6.69 for next year compared to US$6.16 last year.
Valuation Update With 7 Day Price Move • Apr 03Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to US$56.62, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 21x in the Hospitality industry in the US. Total loss to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$102 per share.
공지 • Apr 02Marriott Vacations Worldwide Corporation to Report Q1, 2025 Results on May 07, 2025Marriott Vacations Worldwide Corporation announced that they will report Q1, 2025 results After-Market on May 07, 2025
분석 기사 • Apr 01Should You Investigate Marriott Vacations Worldwide Corporation (NYSE:VAC) At US$64.24?While Marriott Vacations Worldwide Corporation ( NYSE:VAC ) might not have the largest market cap around , it received...
공지 • Mar 28Marriott Vacations Worldwide Corporation, Annual General Meeting, May 13, 2025Marriott Vacations Worldwide Corporation, Annual General Meeting, May 13, 2025.
분석 기사 • Mar 16Marriott Vacations Worldwide's (NYSE:VAC) Returns Have Hit A WallWhat trends should we look for it we want to identify stocks that can multiply in value over the long term? Amongst...
Seeking Alpha • Mar 15Marriott Vacations: Time To Own Shares In This TimeshareSummary Marriott Vacations Worldwide Corporation shows strong financial performance with an 11.1% YoY revenue increase, despite inflationary pressures. VAC's strategic locations and large market presence drive growth, targeting high-net-worth individuals and leveraging tourism resilience. The stock is underpriced with improving technicals, offering a 22.8% upside potential based on DCF and Dividend Discount Models. Despite weak momentum, VAC's solid fundamentals and growth prospects make it an ideal buy for investors. Read the full article on Seeking Alpha
Recent Insider Transactions • Mar 12CEO, President & Director recently bought US$360k worth of stockOn the 6th of March, John Geller bought around 5k shares on-market at roughly US$72.04 per share. This transaction amounted to 3.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was John's only on-market trade for the last 12 months.
Reported Earnings • Feb 27Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: EPS: US$6.16 (down from US$6.96 in FY 2023). Revenue: US$4.97b (up 57% from FY 2023). Net income: US$218.0m (down 14% from FY 2023). Profit margin: 4.4% (down from 8.0% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 3.3% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings.
공지 • Feb 27Marriott Vacations Worldwide Corporation Provides Earnings Guidance for the Full Year 2025Marriott Vacations Worldwide Corporation provided earnings guidance for the full year 2025. For the year, the company expects contract sales of $1,850 million to $1,925 million.
Declared Dividend • Feb 25Third quarter dividend of US$0.79 announcedShareholders will receive a dividend of US$0.79. Ex-date: 5th March 2025 Payment date: 19th March 2025 Dividend yield will be 3.6%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (53% earnings payout ratio) but not covered by cash flows (160% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 42% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
공지 • Feb 24Marriott Vacations Worldwide Corporation Announces Board ChangesMarriott Vacations Worldwide Corporation announced the appointment of hospitality industry leaders, Matthew Avril and James (“Jim”) Dausch, as independent directors of the Board. The Company also announced the retirement of Melquiades (“Mel”) Martinez and Raymond (“Rip”) Gellein as members of the Board effective immediately prior to the Company’s annual meeting of its stockholders, which is expected to take place in May 2025. Mr. Avril has over 30 years of executive experience, principally in the hospitality and vacation ownership industries, and most recently served as Chief Executive Officer of Diamond Resorts International Inc. Prior to that, he was Chief Executive Officer-elect for Vistana Signature Experiences Inc. (“Vistana”) after his retirement as President, Hotel Group, at Starwood Hotels & Resorts Worldwide Inc. (“Starwood”). Before that, he served in several executive leadership positions with Starwood, and held various senior leadership positions with Vistana, including as President and Managing Director of Operations. Mr. Avril is a CPA (inactive status) and his experience in hospitality and vacation ownership includes marketing and sales, finance and accounting, resort operations, technical operations and human resources. Mr. Dausch is a senior executive with over 25 years of experience conceptualizing and leading the execution of transformational, growth-focused strategies at well-known brands, including Marriott International Inc., and is currently Global Chief Digital and Technology Officer, Pizza Hut at Yum! Brands Inc. Prior to that, Mr. Dausch served as Executive Vice President and Chief Customer Officer at Under Armour Inc. Prior to that, his career at Marriott International spanned over 20 years in various senior leadership positions including as Chief Digital and Transformation Officer, with increasing leadership responsibility in the areas of operations, corporate finance, sales and marketing, brand management, franchising, and digital and technology.
공지 • Feb 20Marriott Vacations Worldwide Corporation Announces Quarterly Cash Dividend, Payable on or Around March 19, 2025Marriott Vacations Worldwide Corporation announced its Board of Directors authorized a quarterly cash dividend of $0.79 per share of common stock. The dividend is payable on or around March 19, 2025, to stockholders of record as of the close of business on March 5, 2025.
분석 기사 • Feb 14A Piece Of The Puzzle Missing From Marriott Vacations Worldwide Corporation's (NYSE:VAC) Share PriceMarriott Vacations Worldwide Corporation's ( NYSE:VAC ) price-to-earnings (or "P/E") ratio of 14.7x might make it look...
공지 • Jan 30Marriott Vacations Worldwide Corporation to Report Q4, 2024 Results on Feb 26, 2025Marriott Vacations Worldwide Corporation announced that they will report Q4, 2024 results After-Market on Feb 26, 2025
분석 기사 • Dec 12Marriott Vacations Worldwide's (NYSE:VAC) Shareholders Will Receive A Bigger Dividend Than Last YearThe board of Marriott Vacations Worldwide Corporation ( NYSE:VAC ) has announced that the dividend on 3rd of January...
Declared Dividend • Dec 11Third quarter dividend increased to US$0.79Dividend of US$0.79 is 3.9% higher than last year. Ex-date: 19th December 2024 Payment date: 3rd January 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (53% earnings payout ratio) but not covered by cash flows (154% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 40% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
분석 기사 • Dec 07Is It Time To Consider Buying Marriott Vacations Worldwide Corporation (NYSE:VAC)?While Marriott Vacations Worldwide Corporation ( NYSE:VAC ) might not have the largest market cap around , it received...
공지 • Dec 06Marriott Vacations Worldwide Corporation Announces Increased Quarterly Cash Dividend, Payable on or Around January 3, 2025Marriott Vacations Worldwide Corporation announced its Board of Directors authorized a quarterly cash dividend of $0.79 per share of common stock, an increase of 4% over the Company’s prior dividend. The dividend is payable on or around January 3, 2025, to stockholders of record as of the close of business on December 19, 2024.
Seeking Alpha • Nov 26Marriott Vacations: Business Normalizing As Delinquencies StabilizeSummary Marriott Vacations Worldwide has seen a 29% gain over the past year, with recent recovery post-summer volatility, but remains below Q2 highs. Q3 results showed a $1.80 EPS, beating estimates by $0.20, with revenue up 10% to $1.3 billion, driven by Hawaii's recovery. Financing revenue rose 7%, but credit quality issues persist, with $281 million past due and $516 million in reserves, posing potential risks. Despite stabilizing delinquencies and cost-saving measures, I maintain a "hold" rating on VAC, seeing shares as fairly valued with an 8% free cash flow yield. Read the full article on Seeking Alpha
분석 기사 • Nov 14There May Be Reason For Hope In Marriott Vacations Worldwide's (NYSE:VAC) Disappointing EarningsMarriott Vacations Worldwide Corporation's ( NYSE:VAC ) stock was strong despite it releasing a soft earnings report...
분석 기사 • Nov 10A Piece Of The Puzzle Missing From Marriott Vacations Worldwide Corporation's (NYSE:VAC) 30% Share Price ClimbMarriott Vacations Worldwide Corporation ( NYSE:VAC ) shares have continued their recent momentum with a 30% gain in...
Price Target Changed • Nov 08Price target increased by 7.2% to US$96.30Up from US$89.85, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of US$95.60. Stock is up 25% over the past year. The company is forecast to post earnings per share of US$5.49 for next year compared to US$6.96 last year.
공지 • Nov 08Marriott Vacations Worldwide Promotes Scott Weisz to Executive Vice President, Strategic Business OperationsMarriott Vacations Worldwide Corporation announced that Scott Weisz has been promoted to Executive Vice President, Strategic Business Operations at the Company. As a member of the Company’s Executive Committee, Weisz now reports directly to John Geller, President and Chief Executive Officer. In his role, Weisz will lead the enterprise’s work to accelerate core and new product growth, as well as help drive additional operating efficiencies through continued business modernization. Weisz has held several leadership roles in his more than 20 years with the Company, including leading global inventory and revenue management strategies, and overseeing the east region of The Marriott Vacation Club’s vacation ownership business. Over the course of his career, he has held several positions of increased responsibility in feasibility and business planning and asset management where he was involved in new project development, delivery, and business optimization.
Reported Earnings • Nov 07Third quarter 2024 earnings: EPS and revenues exceed analyst expectationsThird quarter 2024 results: EPS: US$2.38 (up from US$1.15 in 3Q 2023). Revenue: US$1.31b (up 76% from 3Q 2023). Net income: US$84.0m (up 100% from 3Q 2023). Profit margin: 6.4% (up from 5.7% in 3Q 2023). Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 37%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings.
공지 • Nov 07Marriott Vacations Worldwide Corporation Provides Earnings Guidance for the Full Year 2024Marriott Vacations Worldwide Corporation provided earnings guidance for the full year 2024. For the year, the company expects contract sales of $1,790 million to $1,825 million. Net income attributable to common shareholders of $225 million to $240 million. Earnings per share diluted of $5.80 to $6.15.
분석 기사 • Oct 29Returns On Capital At Marriott Vacations Worldwide (NYSE:VAC) Have StalledThere are a few key trends to look for if we want to identify the next multi-bagger. Typically, we'll want to notice a...
공지 • Oct 02Marriott Vacations Worldwide Corporation to Report Q3, 2024 Results on Nov 06, 2024Marriott Vacations Worldwide Corporation announced that they will report Q3, 2024 results After-Market on Nov 06, 2024
새 내러티브 • Sep 09Calculated Shifts And Resort Expansions Set To Propel The Company's Growth And Market Share Efforts to expand the customer base through increased first-time buyer tours and adjustments in sales promotions indicate proactive strategies to boost future revenues.
Declared Dividend • Sep 08Second quarter dividend of US$0.76 announcedShareholders will receive a dividend of US$0.76. Ex-date: 19th September 2024 Payment date: 3rd October 2024 Dividend yield will be 4.2%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but not covered by cash flows (101% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next year, which should provide support to the dividend and adequate earnings cover.
공지 • Sep 05Marriott Vacations Worldwide Corporation Announces Quarterly Cash Dividend, Payable on or Around October 3, 2024Marriott Vacations Worldwide Corporation announced its Board of Directors authorized a quarterly cash dividend of $0.76 per share of common stock. The dividend is payable on or around October 3, 2024, to stockholders of record as of the close of business on September 19, 2024.
분석 기사 • Aug 24Investors Continue Waiting On Sidelines For Marriott Vacations Worldwide Corporation (NYSE:VAC)Marriott Vacations Worldwide Corporation's ( NYSE:VAC ) price-to-earnings (or "P/E") ratio of 16.1x might make it look...
Major Estimate Revision • Aug 09Consensus EPS estimates fall by 26%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$4.98b to US$4.83b. EPS estimate also fell from US$7.23 per share to US$5.36 per share. Net income forecast to grow 53% next year vs 24% growth forecast for Hospitality industry in the US. Consensus price target down from US$114 to US$90.00. Share price fell 9.2% to US$69.62 over the past week.
Price Target Changed • Aug 02Price target decreased by 8.3% to US$105Down from US$114, the current price target is an average from 9 analysts. New target price is 37% above last closing price of US$76.66. Stock is down 30% over the past year. The company is forecast to post earnings per share of US$6.37 for next year compared to US$6.96 last year.
New Risk • Aug 01New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 25% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (4.7% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.1% net profit margin).
