Monitor the company's ability to execute on its restructuring plans and achieve the 2026 guidance, particularly whether adjusted EBITDA can be maintained despite the significant impairments and debt repayment. The sale of assets and debt reduction may improve financial flexibility.
Price Chart
Executive Summary
Marriott Vacations Worldwide reported a significant net loss of $308 million for full-year 2025, driven by $577 million in non-cash impairment charges related to goodwill, inventory, and real estate assets. Despite this, the company maintained positive adjusted EBITDA of $751 million and provided 2026 guidance with expected adjusted EBITDA of $755-$780 million, while also repaying $575 million in convertible debt and selling a resort in Cancun.
Key Financial Metrics
Key Facts
- Net loss of $308 million for full-year 2025 with $577 million in non-cash impairment charges
- Adjusted EBITDA of $751 million for full-year 2025
- 2026 guidance projects adjusted EBITDA of $755-$780 million
- Repaid $575 million of convertible debt in January 2026
- Sold Westin Resort Spa in Cancun for $50 million
Financial Impact
The $577 million in impairment charges significantly impacted GAAP results, but the company maintained $751 million in adjusted EBITDA. The 2026 guidance suggests stabilization with adjusted EBITDA expected to remain strong at $755-$780 million.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Vacation Ownership | $3.3B | +1.7% |
| Exchange Third-Party Management | $880.0M | -1.5% |
Risk Factors
- The significant impairment charges indicate underlying business challenges that may persist
- The company's ability to meet 2026 guidance amid ongoing restructuring efforts
- Potential for additional asset impairments or restructuring charges in the future
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001524358-26-000006 |
| Document: vac-20260225.htm | 0001524358-26-000006 |
| Document: 0001524358-26-000006-index-headers.html | 0001524358-26-000006 |
| Document: 0001524358-26-000006-index.html | 0001524358-26-000006 |
| Document: 0001524358-26-000006.txt | 0001524358-26-000006 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 20, 2026 9w ago | Insider Cluster | $110.28 $103.02 | ▲ +6.58% | ▲ +6.58% | $109.84 (+0.40%) |
Aug 10, 2026 11w ago | 144 | $113.24 $102.41 | ▼ −9.56% | ▼ −8.65% | $109.84 (−3.00%) |
Aug 6, 2026 11w ago | 8-K | $124.75 $99.21 | ▼ −20.47% | ▼ −21.07% | $109.84 (−11.95%) |
Jul 21, 2026 13w ago | 8-K | $97.98 $115.04 | ▲ +17.41% | ▲ +14.85% | $109.84 (+12.10%) |
May 18, 2026 22w ago | 8-K | $69.56 $93.96 | ▲ +35.09% | ▲ +34.10% | $109.84 (+57.92%) |
May 5, 2026 24w ago | 8-K | $73.72 $89.66 | ▼ −21.62% | ▼ −16.67% | $109.84 (−49.00%) |
Feb 25, 2026 34w ago | 8-K | $66.86 $70.22 | ▼ −5.02% | ▼ −11.42% | $109.84 (−64.28%) |
US Market Status
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