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Marriott Vacations Worldwide VAC Royalty expense

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Segments

By segment

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Vacation Ownership$29M+3.6%

Other financials

Income statement

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Revenue$1.3B+5.9%
Net income$77.0M+11.6%
EPS (diluted)$2.12+19.8%

Balance sheet

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Cash & equivalents$513.0M+9.6%
Total debt$3.9B-2.5%
Total equity$2.1B-17.2%
Total assets$9.5B-4.1%

Cash flow

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Operating cash flow$80.0M+267%
CapEx$14.0M-30.0%
Free cash flow$66.0M+197%

Valuation

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Market cap$4.28B+71.9%
Enterprise value$7.65B+27.5%
P/S0.8×+0.3×

Profitability

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Net margin-6.5%-11.6pp
FCF margin1.4%-1.9pp

Returns & leverage

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Return on equity-14.7%-25.4pp
Debt / equity1.9×+0.3×

Where this comes from

Reported directly by Marriott Vacations Worldwide in its filing.

Tagged under the XBRL concept us-gaap:RoyaltyExpense.

The source filing: Marriott Vacations Worldwide’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 9:24 AM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q3 2026
Accession
0001524358-26-000037
Line itemThree Months Ended / June 30, 2026Three Months Ended / June 30, 2025Six Months Ended / June 30, 2026Six Months Ended / June 30, 2025
Management and exchange121121241238
Rental140125280248
Financing42378373
Royalty fee29285756
General and administrative6261126122
Depreciation and amortization32386676
Litigation charges(1)5112
Modernization10342644

Item 1. Financial Statements

FAQ

What is Marriott Vacations Worldwide's royalty expense?
Marriott Vacations Worldwide (VAC) reported royalty expense of $29M in Q2 2026.
How has Marriott Vacations Worldwide's royalty expense changed year-over-year?
Marriott Vacations Worldwide's royalty expense increased by 3.6% year-over-year, from $28M to $29M.
What is the long-term trend for Marriott Vacations Worldwide's royalty expense?
Over 4 years (2021 to 2025), Marriott Vacations Worldwide's royalty expense has grown at a 1.6% compound annual growth rate (CAGR), from $106M to $113M.
What does royalty expense mean?
Reflects the fees paid to third-party brand owners for the right to use specific trademarks and intellectual property in the company's resort operations. This expense is a critical component of the brand-licensing business model and directly impacts operating margins.

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