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Marriott Vacations Worldwide

DB:M8V
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
M8V
DB
$4B
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

Marriott Vacations Worldwide Corporation develops, markets, sells, and manages vacation ownership and related products under the Marriott Vacation Club, Grand Residences by Marriott, Sheraton, Westin, Hyatt Residence Club brands, and Marriott Vacation Club Pulse brands. The last earnings update was 39 days ago. More info.


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M8V Share Price and Events
7 Day Returns
7%
DB:M8V
0.1%
DE Hospitality
-3.6%
DE Market
1 Year Returns
-16.5%
DB:M8V
-52.1%
DE Hospitality
-11.8%
DE Market
M8V Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Marriott Vacations Worldwide (M8V) 7% -2.1% 4.1% -16.5% 61.2% 108.3%
DE Hospitality 0.1% -9.6% -10.1% -52.1% -29% -25.2%
DE Market -3.6% -2.1% -0.8% -11.8% 12% 5.8%
1 Year Return vs Industry and Market
  • M8V outperformed the Hospitality industry which returned -52.1% over the past year.
  • M8V underperformed the Market in Germany which returned -11.8% over the past year.
Price Volatility
M8V
Industry
5yr Volatility vs Market

Value

 Is Marriott Vacations Worldwide undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Marriott Vacations Worldwide to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Marriott Vacations Worldwide.

DB:M8V Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:M8V
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.921 (1 + (1- 21%) (91.9%))
1.395
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.39
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.395 * 5.96%)
8.54%

Discounted Cash Flow Calculation for DB:M8V using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Marriott Vacations Worldwide is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:M8V DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.54%)
2019 380.84 Analyst x5 350.87
2020 430.98 Analyst x5 365.83
2021 471.00 Analyst x2 368.34
2022 642.00 Analyst x1 462.57
2023 719.32 Est @ 12.04% 477.50
2024 780.46 Est @ 8.5% 477.32
2025 827.43 Est @ 6.02% 466.23
2026 862.85 Est @ 4.28% 447.93
2027 889.29 Est @ 3.07% 425.33
2028 908.98 Est @ 2.21% 400.54
Present value of next 10 years cash flows $4,242.46
DB:M8V DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $908.98 × (1 + 0.23%) ÷ (8.54% – 0.23%)
$10,960.49
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $10,960.49 ÷ (1 + 8.54%)10
$4,829.76
DB:M8V Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $4,242.46 + $4,829.76
$9,072.22
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $9,072.22 / 44.83
$202.38
DB:M8V Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:M8V represents 0.88174x of NYSE:VAC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88174x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 202.38 x 0.88174
€178.45
Value per share (EUR) From above. €178.45
Current discount Discount to share price of €86.19
= -1 x (€86.19 - €178.45) / €178.45
51.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Marriott Vacations Worldwide is available for.
Intrinsic value
>50%
Share price is €86.19 vs Future cash flow value of €178.45
Current Discount Checks
For Marriott Vacations Worldwide to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Marriott Vacations Worldwide's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Marriott Vacations Worldwide's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Marriott Vacations Worldwide's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Marriott Vacations Worldwide's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:M8V PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.13
NYSE:VAC Share Price ** NYSE (2019-06-14) in USD $97.75
Germany Hospitality Industry PE Ratio Median Figure of 10 Publicly-Listed Hospitality Companies 18.98x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.7x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Marriott Vacations Worldwide.

DB:M8V PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:VAC Share Price ÷ EPS (both in USD)

= 97.75 ÷ 1.13

86.44x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Marriott Vacations Worldwide is overvalued based on earnings compared to the DE Hospitality industry average.
  • Marriott Vacations Worldwide is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Marriott Vacations Worldwide's expected growth come at a high price?
Raw Data
DB:M8V PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 86.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
80.4%per year
Germany Hospitality Industry PEG Ratio Median Figure of 5 Publicly-Listed Hospitality Companies 1.31x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

DB:M8V PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 86.44x ÷ 80.4%

1.08x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Marriott Vacations Worldwide is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Marriott Vacations Worldwide's assets?
Raw Data
DB:M8V PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $74.39
NYSE:VAC Share Price * NYSE (2019-06-14) in USD $97.75
Germany Hospitality Industry PB Ratio Median Figure of 13 Publicly-Listed Hospitality Companies 2.06x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.76x
DB:M8V PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:VAC Share Price ÷ Book Value per Share (both in USD)

= 97.75 ÷ 74.39

1.31x

* Primary Listing of Marriott Vacations Worldwide.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Marriott Vacations Worldwide is good value based on assets compared to the DE Hospitality industry average.
X
Value checks
We assess Marriott Vacations Worldwide's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Hospitality industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Hospitality industry average (and greater than 0)? (1 check)
  5. Marriott Vacations Worldwide has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Marriott Vacations Worldwide expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
80.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Marriott Vacations Worldwide expected to grow at an attractive rate?
  • Marriott Vacations Worldwide's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Marriott Vacations Worldwide's earnings growth is expected to exceed the Germany market average.
  • Marriott Vacations Worldwide's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:M8V Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:M8V Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 80.4%
DB:M8V Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 13.8%
Germany Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 18.9%
Germany Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:M8V Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:M8V Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 692
2021-12-31 5,058 517 2
2020-12-31 4,820 419 379 7
2019-12-31 4,523 349 226 7
DB:M8V Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 2,245 102 43
2018-12-31 1,860 97 55
2018-09-30 1,482 138 108
2018-06-30 1,333 186 206
2018-03-31 1,319 119 243
2017-12-31 1,298 142 235
2017-09-30 1,358 121 166
2017-06-30 1,314 134 153
2017-03-31 1,267 177 141
2016-12-30 1,153 141 122
2016-09-09 1,224 99 121
2016-06-17 1,235 51 115

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Marriott Vacations Worldwide's earnings are expected to grow significantly at over 20% yearly.
  • Marriott Vacations Worldwide's revenue is expected to grow by 13.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:M8V Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Marriott Vacations Worldwide Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:M8V Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 9.22 9.22 9.22 1.00
2020-12-31 8.71 9.26 8.26 5.00
2019-12-31 5.02 5.10 4.95 3.00
DB:M8V Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.13
2018-12-31 1.65
2018-09-30 3.81
2018-06-30 7.67
2018-03-31 9.02
2017-12-31 8.67
2017-09-30 6.11
2017-06-30 5.62
2017-03-31 5.14
2016-12-30 4.37
2016-09-09 4.20
2016-06-17 3.87

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Marriott Vacations Worldwide will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Marriott Vacations Worldwide's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Marriott Vacations Worldwide has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Marriott Vacations Worldwide performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Marriott Vacations Worldwide's growth in the last year to its industry (Hospitality).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Marriott Vacations Worldwide's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Marriott Vacations Worldwide's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Marriott Vacations Worldwide's 1-year earnings growth is negative, it can't be compared to the DE Hospitality industry average.
Earnings and Revenue History
Marriott Vacations Worldwide's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Marriott Vacations Worldwide Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:M8V Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 2,245.00 43.00 858.00
2018-12-31 1,860.00 55.00 725.00
2018-09-30 1,482.37 107.76 589.31
2018-06-30 1,333.31 205.69 515.57
2018-03-31 1,319.03 243.11 501.96
2017-12-31 1,298.00 235.00 494.00
2017-09-30 1,358.38 165.82 516.91
2017-06-30 1,314.42 152.71 503.82
2017-03-31 1,266.96 140.83 479.39
2016-12-30 1,153.00 122.00 434.00
2016-09-09 1,223.62 120.67 448.28
2016-06-17 1,235.32 115.42 441.95
2016-03-25 1,241.77 113.15 437.70
2016-01-01 1,280.89 122.80 436.70
2015-09-11 1,270.23 90.15 428.98
2015-06-19 1,275.54 94.24 429.45
2015-03-27 1,262.68 95.50 424.80
2015-01-02 1,190.31 80.76 416.33
2014-09-12 1,211.12 86.26 413.74
2014-06-20 1,215.13 85.61 413.43
2014-03-28 1,229.92 80.31 414.05
2014-01-03 1,223.67 79.73 414.99
2013-09-06 1,212.00 63.00 410.00
2013-06-14 1,183.00 43.00 414.00
2013-03-22 1,144.00 18.00 416.00
2012-12-28 1,126.00 7.00 414.00
2012-09-07 1,118.00 26.00 422.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Marriott Vacations Worldwide has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Marriott Vacations Worldwide used its assets less efficiently than the DE Hospitality industry average last year based on Return on Assets.
  • Marriott Vacations Worldwide's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Marriott Vacations Worldwide's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Hospitality industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Marriott Vacations Worldwide has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Marriott Vacations Worldwide's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Marriott Vacations Worldwide's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Marriott Vacations Worldwide is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Marriott Vacations Worldwide's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Marriott Vacations Worldwide's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Marriott Vacations Worldwide Company Filings, last reported 2 months ago.

DB:M8V Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 3,351.00 4,027.00 222.00
2018-12-31 3,466.00 3,818.00 231.00
2018-09-30 3,521.00 3,923.00 441.00
2018-06-30 1,065.64 1,332.28 547.67
2018-03-31 1,066.23 1,012.35 323.83
2017-12-31 1,041.00 1,095.00 409.00
2017-09-30 949.22 1,153.22 440.07
2017-06-30 968.82 773.56 85.15
2017-03-31 933.25 683.77 101.84
2016-12-30 907.82 737.22 147.10
2016-09-09 868.27 843.83 174.76
2016-06-17 846.75 772.90 97.42
2016-03-25 919.03 728.26 106.61
2016-01-01 976.27 717.78 177.06
2015-09-11 1,035.97 808.65 321.69
2015-06-19 1,060.62 600.03 250.91
2015-03-27 1,042.51 657.80 272.18
2015-01-02 1,079.70 741.83 346.52
2014-09-12 1,130.00 578.00 146.00
2014-06-20 1,174.00 610.00 170.00
2014-03-28 1,188.00 637.00 159.00
2014-01-03 1,209.00 718.00 200.00
2013-09-06 1,218.00 791.00 288.00
2013-06-14 1,190.00 687.00 104.00
2013-03-22 1,168.00 726.00 119.00
2012-12-28 1,139.00 718.00 103.00
2012-09-07 1,152.00 833.00 212.00
  • Marriott Vacations Worldwide's level of debt (116.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (53.5% vs 116.1% today).
  • Debt is not well covered by operating cash flow (2.6%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.5x coverage).
X
Financial health checks
We assess Marriott Vacations Worldwide's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Marriott Vacations Worldwide has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Marriott Vacations Worldwide's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.84%
Current annual income from Marriott Vacations Worldwide dividends. Estimated to be 2.67% next year.
If you bought €2,000 of Marriott Vacations Worldwide shares you are expected to receive €37 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Marriott Vacations Worldwide's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Marriott Vacations Worldwide's dividend is below the markets top 25% of dividend payers in Germany (3.91%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:M8V Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
Germany Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:M8V Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 2.94 2.00
2020-12-31 2.34 3.00
2019-12-31 2.69 2.00
DB:M8V Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-10 1.800 1.899
2019-02-15 1.800 1.815
2018-12-07 1.800 2.303
2018-09-07 1.600 1.736
2018-05-15 1.600 1.344
2018-02-16 1.600 1.194
2017-12-08 1.600 1.154
2017-09-08 1.400 1.097
2017-05-12 1.400 1.210
2017-02-10 1.400 1.414
2016-12-09 1.400 1.640
2016-09-09 1.200 1.669
2016-05-13 1.200 1.760
2016-02-12 1.200 1.909
2015-12-08 1.200 2.290
2015-09-11 1.000 1.551
2015-06-05 1.000 1.216
2015-02-13 1.000 1.225
2014-10-16 1.000 1.375

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Marriott Vacations Worldwide has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Marriott Vacations Worldwide only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Marriott Vacations Worldwide's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.8x coverage).
X
Income/ dividend checks
We assess Marriott Vacations Worldwide's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Marriott Vacations Worldwide afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Marriott Vacations Worldwide has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Marriott Vacations Worldwide's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Steve Weisz
COMPENSATION $7,628,764
AGE 67
TENURE AS CEO 8.4 years
CEO Bio

Mr. Stephen P. Weisz, also known as Steve, has been President and Chief Executive Officer of ILG, Inc. since September 1, 2018. He has been Member of Board of Managers of ILG, Inc. since September 1, 2018. Mr. Weisz has been the President of Marriott Vacations Worldwide Corporation (Former Name: Marriott Vacations Worldwide Corp.) since 1996 and has been its Chief Executive officer since 2011. Mr. Weisz serves as the Chief Executive Officer and President of Marriott Ownership Resorts, Inc. and Marriott Resorts Hospitality Corporation. He serves as a Director at Marriott Ownership Resorts, Inc. He served as the President of Marriott Vacation Club International- Marriott International Inc. since 1996. His career with Marriott spans 37 years and includes several key executive management positions in sales and marketing, the Mid-Atlantic region, revenue management and rooms operations. He served as Vice President of Marriott International Inc. since 1996. He joined Marriott Corporation in 1972 as a front office trainee at the Key Bridge Marriott in Arlington, Va. He served as Regional Vice President of the Mid-Atlantic Region at Marriott Corporation since 1991. Mr. Weisz served as a Senior Vice President of Rooms Operations and Related Services of Marriott International Inc. and served as its General Manager, Bethesda Marriott in Maryland. Before being appointed as a Vice President of the Revenue Management Group. He served as Senior Vice President of Sales and Marketing for Marriott Hotels, Resorts and Suites in 1992 and Executive Vice President – Lodging Brands in 1994. Mr. Weisz was responsible for developing growth and positioning strategies for all Marriott Lodging brands, which included Marriott Hotels, Resorts and Suites; Renaissance; Courtyard; Fairfield Inn; Springhill Suites; Residence Inn; TownePlace Suites and Marriott Conference Centers. He served as the Chairman of InMoment, Inc. from June 12, 2013 to March 17, 2017. He has been a Director of Real Estate Roundtable, The since July 01, 2016. He has been a Director of Marriott Vacations Worldwide Corporation since November 2011. He serves as a Director of Mindshare Technologies, Inc. and Orlando/Orange County Convention & Visitors Bureau, Inc. Mr. Weisz has served as a Regional Vice President of the Cornell Hotel Society. He was a member of the Advisory Board of Directors of the UCF Rosen School of Hospitality Management and was board member of the Maryland Hotel/Motel Association. He serves as Chairman and a trustee of the American Resort Development Association and served as Chairman of the Board of Governors for Children's Miracle Network. He served for 13 years as a faculty member and visiting lecturer at Cornell. In 2001, Mr. Weisz received an honorary doctoral degree in Business Administration in hospitality management from Johnson & Wales University. He is a graduate of Cornell University with a Bachelor's degree in Hotel Administration.

CEO Compensation
  • Steve's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Steve's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Marriott Vacations Worldwide management team in years:

9.9
Average Tenure
56
Average Age
  • The average tenure for the Marriott Vacations Worldwide management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Steve Weisz

TITLE
President
COMPENSATION
$8M
AGE
67
TENURE
8.4 yrs

John Geller

TITLE
Executive VP and Chief Financial & Administrative Officer
COMPENSATION
$3M
AGE
51
TENURE
10.4 yrs

James Hunter

TITLE
Executive VP
COMPENSATION
$2M
AGE
55
TENURE
13.4 yrs

Brian Miller

TITLE
Executive VP and Chief Marketing
COMPENSATION
$2M
AGE
55
TENURE
7.6 yrs

Ralph Cunningham

TITLE
Executive VP & COO of Vacation Ownership
COMPENSATION
$2M
AGE
58
TENURE
12.4 yrs

Laurie Sullivan

TITLE
Senior VP

Dwight Smith

TITLE
Executive VP & Chief Information Officer
AGE
57
TENURE
13.4 yrs

Neal Goldner

TITLE
Vice President of Investor Relations

Mike Yonker

TITLE
Executive VP & Chief Human Resources Officer
AGE
59
TENURE
9.4 yrs

Lani Kane-Hanan

TITLE
Executive VP and Chief Development & Product Officer
COMPENSATION
$1M
AGE
52
TENURE
7.6 yrs
Board of Directors Tenure

Average tenure and age of the Marriott Vacations Worldwide board of directors in years:

7.6
Average Tenure
68
Average Age
  • The tenure for the Marriott Vacations Worldwide board of directors is about average.
Board of Directors

Bill Shaw

TITLE
Chairman
COMPENSATION
$345K
AGE
72
TENURE
7.6 yrs

Steve Weisz

TITLE
President
COMPENSATION
$8M
AGE
67
TENURE
7.6 yrs

Mel Martinez

TITLE
Lead Independent Director
COMPENSATION
$275K
AGE
71

C.E. Andrews

TITLE
Independent Director
COMPENSATION
$246K
AGE
66
TENURE
6.2 yrs

Dianna Morgan

TITLE
Independent Director
COMPENSATION
$246K
AGE
66
TENURE
6.2 yrs

Bill McCarten

TITLE
Independent Director
COMPENSATION
$270K
AGE
69
TENURE
7.6 yrs

Rip Gellein

TITLE
Independent Director
COMPENSATION
$255K
AGE
70
TENURE
7.6 yrs

Tom Hutchison

TITLE
Independent Director
COMPENSATION
$270K
AGE
76
TENURE
7.6 yrs

Lizanne Galbreath

TITLE
Director
COMPENSATION
$25K
AGE
60
TENURE
0.8 yrs

Stephen Quazzo

TITLE
Director
COMPENSATION
$25K
AGE
58
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • Marriott Vacations Worldwide insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
01. Apr 19 Sell Laurie Sullivan Individual 29. Mar 19 29. Mar 19 -2,857 €85.42 €-244,038
25. Jan 19 Buy William Shaw Individual 04. Oct 18 04. Oct 18 226 €89.51 €20,223
01. Dec 18 Buy Charles Andrews Individual 28. Nov 18 28. Nov 18 6,380 €70.17 €447,674
13. Nov 18 Buy Stephen Weisz Individual 09. Nov 18 09. Nov 18 2,355 €71.62 €168,665
13. Nov 18 Buy John Geller Individual 12. Nov 18 12. Nov 18 6,000 €68.21 €409,278
01. Oct 18 Sell Qurate Retail, Inc. Company 19. Sep 18 26. Sep 18 -2,746,252 €100.74 €-267,556,196
11. Sep 18 Buy Mark Vadon Individual 25. Jul 18 25. Jul 18 36 €99.48 €3,581
11. Sep 18 Buy Gregory Maffei Individual 02. Aug 18 02. Aug 18 24 €104.12 €2,498
29. Jun 18 Buy Stephen Weisz Individual 28. Jun 18 28. Jun 18 3,500 €93.56 €327,475
X
Management checks
We assess Marriott Vacations Worldwide's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Marriott Vacations Worldwide has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Marriott Vacations Worldwide Corporation develops, markets, sells, and manages vacation ownership and related products under the Marriott Vacation Club, Grand Residences by Marriott, Sheraton, Westin, Hyatt Residence Club brands, and Marriott Vacation Club Pulse brands. The company operates through two segments, Vacation Ownership and Exchange & Third-Party Management. It also develops, markets, and sells vacation ownership and related products under The Ritz-Carlton Destination Club brand; and holds right to develop, market, and sell ownership residential products under The Ritz-Carlton Residences brand. In addition, the company sells points-based vacation ownership products through Marriott Vacation Club points-based ownership programs focused in North America and the Asia Pacific; and weeks-based vacation ownership products. Further, it is involved in financing consumer purchases of vacation ownership products; and renting vacation ownership inventory. Additionally, the company provides on-site management and services, such as daily housekeeping services, valet, in-residence dining, and access to fitness facilities, as well as spa and sports facilities for Ritz-Carlton branded properties. It also offers exchange networks and membership programs consisting of approximately 3,200 resorts in over 80 nations, as well as manages approximately 180 other resorts and lodging properties under the Interval International, Trading Places International, Vacation Resorts International, VRI Europe, Aqua-Aston, and Great Destinations brands. As of December 31, 2018, the company operated approximately 100 properties in the United States and 12 other countries and territories. The company sells its upscale tier vacation ownership products primarily through a network of resort-based sales centers and off-site sales locations. Marriott Vacations Worldwide Corporation is headquartered in Orlando, Florida.

Details
Name: Marriott Vacations Worldwide Corporation
M8V
Exchange: DB
Founded:
$3,904,708,783
44,827,595
Website: http://www.marriottvacationsworldwide.com
Address: Marriott Vacations Worldwide Corporation
6649 Westwood Boulevard,
Orlando,
Florida, 32821,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE VAC Common Shares New York Stock Exchange US USD 08. Nov 2011
DB M8V Common Shares Deutsche Boerse AG DE EUR 08. Nov 2011
Number of employees
Current staff
Staff numbers
23,000
Marriott Vacations Worldwide employees.
Industry
Hotels, Resorts and Cruise Lines
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/15 21:49
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/06/11
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.