Marriott Vacations Worldwide (VAC) FY2021 results: revenue $3.9 billion, up 34.8% on the year
Marriott Vacations Worldwide Corp. (VAC) reported revenue of $3.9 billion for fiscal 2021, the year ended 31 December 2021, up 34.8% on the year before. Net income was $49 million, and diluted earnings per share $1.13. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2022.
Revenue
$3.9 billion
+34.8% on the year
FY2014FY2021
Operating margin
11.6%
-3.4% a year earlier
FY2014FY2021
Net income
$49 million
FY2014FY2021
Diluted EPS
$1.13
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
343
299
382
+14.7%
Capital expenditure
47.0
41.0
46.0
+14.6%
Free cash flow
296
258
336
+14.7%
Free cash flow margin
7.6%
8.9%
7.9%
Cash from investing
-213
-32.0
37.0
Cash from financing
-317
23.0
-331
Depreciation and amortisation
146
123
141
+18.7%
Share-based compensation
51.0
36.0
33.0
+41.7%
Buybacks
78.0
82.0
465
-4.9%
Dividends paid
23.0
45.0
81.0
-48.9%
Dividend per share
$1.08
$0.54
$1.89
+100.0%
Diluted shares, weighted
43m
41m
44m
+4.8%
Shares outstanding at period end
42m
41m
42m
+2.9%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
2,976
2,651
3,019
+12.3%
Non-controlling interest
10.0
31.0
12.0
-67.7%
Debt
4,487
4,268
4,087
+5.1%
Other liabilities
2,140
1,948
2,096
+9.9%
Total liabilities and equity
9,613
8,898
9,214
+8.0%
Fixed assets
n/a
n/a
751
Goodwill
3,150
2,817
2,892
+11.8%
Intangible assets
993
952
1,027
+4.3%
Cash and equivalents
342
524
287
-34.7%
Other assets
5,128
4,605
4,257
+11.4%
Total assets
9,613
8,898
9,214
+8.0%
10-K for the year ended 31 December 2021, filed 1 March 2022: the filing.