Marriott Vacations Worldwide (VAC) FY2023 results: revenue $4.7 billion, up 1.5% on the year
Marriott Vacations Worldwide Corp. (VAC) reported revenue of $4.7 billion for fiscal 2023, the year ended 31 December 2023, up 1.5% on the year before. Net income was $254 million, down 35.0%, and diluted earnings per share $6.28. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.
Revenue
$4.7 billion
+1.5% on the year
FY2016FY2023
Operating margin
11.3%
16.8% a year earlier
FY2016FY2023
Net income
$254 million
-35.0% on the year
FY2016FY2023
Diluted EPS
$6.28
-28.4% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
232
522
343
-55.6%
Capital expenditure
118
65.0
47.0
+81.5%
Free cash flow
114
457
296
-75.1%
Free cash flow margin
2.4%
9.8%
7.6%
Cash from investing
-112
16.0
-213
Cash from financing
-401
-486
-317
Depreciation and amortisation
135
132
146
+2.3%
Share-based compensation
31.0
39.0
51.0
-20.5%
Buybacks
286
701
78.0
-59.2%
Dividends paid
106
99.0
23.0
+7.1%
Dividend per share
$2.92
$2.58
$1.08
+13.2%
Diluted shares, weighted
44m
45m
43m
-3.8%
Shares outstanding at period end
35m
37m
42m
-5.8%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,382
2,496
2,976
-4.6%
Non-controlling interest
0.0
2.0
10.0
Debt
5,145
5,026
4,487
+2.4%
Other liabilities
2,153
2,115
2,140
+1.8%
Total liabilities and equity
9,680
9,639
9,613
+0.4%
Goodwill
3,117
3,117
3,150
0.0%
Intangible assets
854
911
993
-6.3%
Cash and equivalents
248
524
342
-52.7%
Other assets
5,461
5,087
5,128
+7.4%
Total assets
9,680
9,639
9,613
+0.4%
10-K for the year ended 31 December 2023, filed 27 February 2024: the filing.