Marriott Vacations Worldwide Corporation (VAC) Balance Sheet
VAC balance sheet, 2025
December 31, 2025 · U.S. dollars$9.76B assets = $7.76B liabilities + $1.99B equity
Both columns are drawn to the same scale: what VAC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
VAC financial health
Descriptive bands, not a rating. Fiscal 2025.
VAC balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.39B2016 | $9.76B2025 | +16.9%/yr | |
| Total liabilities | $1.48B2016 | $7.76B2025 | +20.2%/yr | |
| Shareholders’ equity | $907.8M2016 | $1.99B2025 | +9.1%/yr | |
| Cash & short-term investments | $147.1M2016 | $733.0M2025 | +19.5%/yr | |
| Total debt | $924.7M2016 | $5.75B2025 | +22.5%/yr | |
| Net cash (debt) | −$777.6M2016 | −$5.02B2025 | −$4.2B | |
| Working capital | $1.60B2016 | $3.52B2025 | +$1.9B | |
| Book value per share | $31.972016 | $57.112025 | +6.7%/yr | |
| Debt / equity | 1.022016 | 2.892025 | +1.87 | |
| Shares outstanding | 28.4M2016 | 34.9M2025 | +2.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
VAC assets
VAC liabilities and equity
VAC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
VAC balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $733.0M | $197.0M | $248.0M | $524.0M | $342.0M | $524.0M | $287.0M | $231.0M | $409.1M | $147.1M |
| Cash & equivalents | $733.0M | $197.0M | $248.0M | $524.0M | $342.0M | $524.0M | $287.0M | $231.0M | $409.1M | $147.1M |
| Short-term investments | — | — | — | — | — | — | — | — | $81.6M | $66.0M |
| Receivables | $2.99B | $2.83B | $2.73B | $2.49B | $2.32B | $150.0M | $166.0M | $2.36B | $1.27B | $1.13B |
| Inventory | $692.0M | $735.0M | $634.0M | $660.0M | $719.0M | $802.0M | $897.0M | $863.0M | $716.5M | $712.5M |
| Other current assets | $0 | $331.0M | $326.0M | $330.0M | $461.0M | $2.43B | $2.80B | $383.0M | $81.6M | $66.0M |
| Total current assets | $3.73B | $4.09B | $3.94B | $4.00B | $3.85B | $3.91B | $4.15B | $3.84B | $2.48B | $2.06B |
| Property, plant & equipment (net) | $950.0M | $1.17B | $1.26B | $1.14B | $1.14B | $922.0M | $860.0M | $951.0M | $252.7M | $202.8M |
| Goodwill & intangible assets | $3.67B | $3.91B | $3.97B | $4.03B | $4.14B | $3.77B | $3.92B | $3.94B | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $6.0M | $0 | $0 | $0 |
| Other non-current assets | $1.41B | $641.0M | $513.0M | $468.0M | $488.0M | $297.0M | $275.0M | $292.0M | $172.5M | $128.9M |
| Total assets | $9.76B | $9.81B | $9.68B | $9.64B | $9.61B | $8.90B | $9.21B | $9.02B | $2.91B | $2.39B |
| Liabilities | ||||||||||
| Accounts payable | $358.0M | $343.0M | $362.0M | $356.0M | $265.0M | $209.0M | $286.0M | $301.0M | $145.4M | $124.4M |
| Short-term debt | $210.0M | $226.0M | $41.0M | $471.0M | $453.0M | $210.0M | $396.0M | $521.0M | $217.4M | $187.4M |
| Deferred revenue | — | $354.0M | $382.0M | $344.0M | $453.0M | $488.0M | $433.0M | $383.0M | $63.1M | $95.5M |
| Total current liabilities | $210.0M | $1.30B | $1.29B | $1.32B | $1.26B | $724.0M | $905.0M | $1.14B | $488.9M | $462.9M |
| Long-term debt | $5.68B | $5.22B | $5.14B | $5.03B | $4.49B | $1.59B | $1.87B | $1.69B | $1.09B | $737.2M |
| Lease obligations | $198.0M | $199.0M | $189.0M | $86.0M | $83.0M | $8.0M | $14.0M | $17.0M | $7.2M | $7.2M |
| Other long-term liabilities | $1.87B | $841.0M | $861.0M | $795.0M | $876.0M | $3.90B | $3.41B | $2.93B | $277.2M | $283.5M |
| Total liabilities | $7.76B | $7.37B | $7.30B | $7.14B | $6.63B | $6.22B | $6.18B | $5.55B | $1.86B | $1.48B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $369,000 | $366,000 |
| Retained earnings (deficit) | $434.0M | $852.0M | $742.0M | $593.0M | $275.0M | $272.0M | $569.0M | $523.0M | $533.6M | $346.3M |
| Treasury stock | — | — | — | — | −$1.36B | −$1.33B | −$1.25B | −$790.0M | −$694.2M | −$606.6M |
| Accumulated other comprehensive income | −$11.0M | −$8.0M | $16.0M | $15.0M | −$16.0M | −$48.0M | −$36.0M | $6.0M | $16.7M | $5.5M |
| Minority interest | $0 | −$1.0M | $0 | $2.0M | $10.0M | $31.0M | $12.0M | $5.0M | — | $0 |
| Total shareholders' equity | $1.99B | $2.44B | $2.38B | $2.50B | $2.99B | $2.65B | $3.02B | $3.46B | $1.05B | $907.8M |
| Key figures | ||||||||||
| Total debt | $5.75B | $5.22B | $5.14B | $5.50B | $4.94B | $4.41B | $4.26B | $3.82B | $1.31B | $924.7M |
| Net cash (debt) | −$5.02B | −$5.03B | −$4.90B | −$4.97B | −$4.60B | −$3.88B | −$3.97B | −$3.59B | −$903.4M | −$777.6M |
| Working capital | $3.52B | $2.79B | $2.64B | $2.68B | $2.58B | $3.19B | $3.25B | $2.70B | $1.99B | $1.60B |
| Tangible book value | −$1.68B | −$1.47B | −$1.59B | −$1.53B | −$1.16B | −$1.12B | −$900.0M | −$474.0M | $1.05B | $907.8M |
| Book value per share | $57.11 | $58.00 | $54.76 | $55.27 | $68.96 | $64.11 | $67.84 | $101.79 | $37.73 | $31.97 |
| Shares outstanding | 34.9M | 42.1M | 43.5M | 45.2M | 43.3M | 41.4M | 44.5M | 34.0M | 27.7M | 28.4M |
| Current ratio | 17.74 | 3.14 | 3.05 | 3.03 | 3.04 | 5.40 | 4.59 | 3.37 | 5.07 | 4.45 |
| Quick ratio | 17.74 | 2.32 | 2.30 | 2.28 | 2.11 | 0.93 | 0.50 | 2.28 | 3.44 | 2.77 |
| Debt / equity | 2.89 | 2.14 | 2.16 | 2.20 | 1.65 | 1.66 | 1.41 | 1.10 | 1.26 | 1.02 |
| Equity / assets | 20.4% | 24.9% | 24.6% | 25.9% | 31.1% | 29.8% | 32.8% | 38.4% | 36.0% | 38.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $211.0M | $268.0M | $733.0M | $474.0M | $205.0M | $196.0M | $197.0M | $197.0M | $206.0M | $237.0M | $248.0M | $265.0M |
| Cash & equivalents | $211.0M | $268.0M | $733.0M | $474.0M | $205.0M | $196.0M | $197.0M | $197.0M | $206.0M | $237.0M | $248.0M | $265.0M |
| Receivables | $3.02B | $416.0M | $2.99B | $220.0M | $2.86B | $2.83B | $2.83B | $2.73B | $2.68B | $2.76B | $2.73B | $2.59B |
| Inventory | $673.0M | $680.0M | $692.0M | $757.0M | $744.0M | $737.0M | $735.0M | $769.0M | $643.0M | $637.0M | $634.0M | $642.0M |
| Other current assets | $302.0M | $0 | $0 | $2.96B | $263.0M | $291.0M | $331.0M | $350.0M | $251.0M | $313.0M | $326.0M | $238.0M |
| Total current assets | $4.20B | $1.36B | $3.73B | $4.41B | $4.08B | $4.06B | $4.09B | $4.04B | $3.78B | $3.94B | $3.94B | $3.73B |
| Property, plant & equipment (net) | $940.0M | $944.0M | $950.0M | $1.32B | $1.28B | $1.17B | $1.17B | $1.17B | $1.29B | $1.30B | $1.26B | $1.25B |
| Goodwill & intangible assets | $3.64B | $3.65B | $3.67B | $3.86B | $3.88B | $3.89B | $3.91B | $3.92B | $3.94B | $3.96B | $3.97B | $3.98B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $699.0M | $3.67B | $1.41B | $546.0M | $649.0M | $765.0M | $641.0M | $608.0M | $599.0M | $667.0M | $513.0M | $484.0M |
| Total assets | $9.48B | $9.64B | $9.76B | $10.15B | $9.89B | $9.88B | $9.81B | $9.74B | $9.61B | $9.87B | $9.68B | $9.45B |
| Liabilities | ||||||||||||
| Accounts payable | $227.0M | $270.0M | $358.0M | $250.0M | $225.0M | $251.0M | $343.0M | $243.0M | $198.0M | $221.0M | $362.0M | $238.0M |
| Short-term debt | — | $161.0M | $210.0M | $242.0M | $109.0M | $0 | $0 | $0 | −$534.0M | $174.0M | $275.0M | $57.0M |
| Deferred revenue | $416.0M | $466.0M | $371.0M | $344.0M | $397.0M | $442.0M | $354.0M | $350.0M | $418.0M | $482.0M | $382.0M | $371.0M |
| Total current liabilities | $1.23B | $161.0M | $210.0M | $1.14B | $1.16B | $1.33B | $1.30B | $1.18B | $1.15B | $1.30B | $1.29B | $1.16B |
| Long-term debt | $5.25B | $5.37B | $5.68B | $5.64B | $5.38B | $5.30B | $5.22B | $5.29B | $5.03B | $5.09B | $4.96B | $5.06B |
| Lease obligations | $198.0M | $198.0M | $198.0M | $198.0M | $199.0M | $199.0M | $199.0M | $198.0M | $198.0M | $197.0M | $189.0M | $188.0M |
| Other long-term liabilities | $937.0M | $2.11B | $1.87B | $908.0M | $857.0M | $822.0M | $841.0M | $855.0M | $1.05B | $1.10B | $1.05B | $825.0M |
| Total liabilities | $7.42B | $7.64B | $7.76B | $7.68B | $7.40B | $7.45B | $7.37B | $7.32B | $7.24B | $7.49B | $7.30B | $7.04B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M |
| Retained earnings (deficit) | $478.0M | $429.0M | $434.0M | $893.0M | $922.0M | $881.0M | $852.0M | $830.0M | $773.0M | $763.0M | $742.0M | $734.0M |
| Accumulated other comprehensive income | −$10.0M | −$12.0M | −$11.0M | −$14.0M | −$14.0M | −$9.0M | −$8.0M | −$11.0M | $1.0M | $15.0M | $16.0M | $18.0M |
| Minority interest | $0 | $0 | $0 | $0 | $0 | — | — | — | — | — | — | — |
| Total shareholders' equity | $2.06B | $1.99B | $1.99B | $2.46B | $2.48B | $2.44B | $2.44B | $2.42B | $2.37B | $2.38B | $2.38B | $2.41B |
| Key figures | ||||||||||||
| Total debt | $5.45B | $5.65B | $5.75B | $5.74B | $5.38B | $5.30B | $5.22B | $5.29B | $5.23B | $5.29B | $5.14B | $5.11B |
| Net cash (debt) | −$5.24B | −$5.38B | −$5.02B | −$5.26B | −$5.18B | −$5.10B | −$5.03B | −$5.09B | −$5.03B | −$5.05B | −$4.90B | −$4.85B |
| Working capital | $2.97B | $1.20B | $3.52B | $3.28B | $2.91B | $2.73B | $2.79B | $2.86B | $2.63B | $2.65B | $2.64B | $2.57B |
| Tangible book value | −$1.58B | −$1.66B | −$1.68B | −$1.40B | −$1.40B | −$1.46B | −$1.47B | −$1.50B | −$1.57B | −$1.58B | −$1.59B | −$1.58B |
| Book value per share | $53.85 | $57.08 | $57.11 | $70.63 | $59.57 | $57.98 | $58.00 | $57.46 | $56.21 | $56.37 | $56.05 | $55.61 |
| Shares outstanding | 38.2M | 34.9M | 34.9M | 34.9M | 41.7M | 42.0M | 42.1M | 42.1M | 42.2M | 42.2M | 42.5M | 43.3M |
| Current ratio | 3.42 | 8.47 | 17.74 | 3.89 | 3.51 | 3.06 | 3.14 | 3.43 | 3.29 | 3.04 | 3.05 | 3.22 |
| Quick ratio | 2.62 | 4.25 | 17.74 | 0.61 | 2.64 | 2.28 | 2.32 | 2.48 | 2.51 | 2.31 | 2.30 | 2.46 |
| Debt / equity | 2.65 | 2.83 | 2.89 | 2.33 | 2.17 | 2.18 | 2.14 | 2.19 | 2.21 | 2.22 | 2.16 | 2.12 |
| Equity / assets | 21.7% | 20.7% | 20.4% | 24.3% | 25.1% | 24.6% | 24.9% | 24.8% | 24.7% | 24.1% | 24.6% | 25.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 2, 2026); data from EODHD.
VAC financial position
At the end of fiscal 2025 (December 31, 2025), Marriott Vacations Worldwide had total assets of $9.8 billion (down 0.5% from a year earlier), total liabilities of $7.8 billion and shareholders' equity of $2.0 billion. It held $733.0 million in cash and short-term investments against $5.8 billion of debt, net debt of $5.0 billion. Its current ratio was 17.74. In the latest quarter (ended June 30, 2026) total assets were $9.5 billion and equity $2.1 billion.
Related: VAC income statement, VAC cash flow statement, VAC key metrics. See the VAC stock overview for the latest quote and news.
VAC balance sheet FAQ
What are Marriott Vacations Worldwide's total assets?
Marriott Vacations Worldwide reported total assets of $9.8 billion at the end of fiscal 2025 (December 31, 2025), compared with $9.8 billion a year earlier.
How much debt does Marriott Vacations Worldwide have?
Marriott Vacations Worldwide had $5.8 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 2.89.
How much cash does Marriott Vacations Worldwide have?
Marriott Vacations Worldwide held $733.0 million in cash and short-term investments at the end of fiscal 2025; with $5.8 billion of debt that is net debt of $5.0 billion.
What is Marriott Vacations Worldwide's book value?
Marriott Vacations Worldwide's shareholders' equity (book value) was $2.0 billion at the end of fiscal 2025, or $57.11 per share.
What is Marriott Vacations Worldwide's current ratio?
Marriott Vacations Worldwide had current assets of $3.7 billion and current liabilities of $210.0 million, a current ratio of 17.74 (it can cover its short-term obligations).
How much goodwill does Marriott Vacations Worldwide have?
Marriott Vacations Worldwide carried $3.7 billion of goodwill and intangible assets, 37.6% of total assets, at the end of fiscal 2025.