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Side-by-side financial comparison of Atour Lifestyle Holdings Ltd (ATAT) and MARRIOTT VACATIONS WORLDWIDE Corp (VAC). Click either name above to swap in a different company.
MARRIOTT VACATIONS WORLDWIDE Corp is the larger business by last-quarter revenue ($1.2B vs $789.6M, roughly 1.6× Atour Lifestyle Holdings Ltd). Atour Lifestyle Holdings Ltd runs the higher net margin — 17.6% vs -35.0%, a 52.6% gap on every dollar of revenue. On growth, Atour Lifestyle Holdings Ltd posted the faster year-over-year revenue change (252.5% vs -0.7%). Atour Lifestyle Holdings Ltd produced more free cash flow last quarter ($210.7M vs $-6.0M).
Atour Lifestyle Holdings Ltd is a leading China-based hospitality and lifestyle enterprise. It operates a wide portfolio of mid-to-premium hotel brands for business and leisure travelers, and offers complementary lifestyle retail products and experience services, catering primarily to middle-class consumers across domestic and selected overseas markets.
Marriott Vacations Worldwide Corporation is a pure-play public timeshare company. Formerly a division of Marriott International, Marriott Vacations Worldwide was established as a separate, publicly traded entity focusing primarily on vacation ownership in November 2011. Marriott Vacations Worldwide runs more than 120 resorts with over 700,000 Owners and members in a diverse portfolio of brands under The Marriott Vacation Clubs name. Its brands include Marriott Vacation Club, The Marriott Vaca...
ATAT vs VAC — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $789.6M | $1.2B |
| Net Profit | $139.1M | $-431.0M |
| Gross Margin | — | — |
| Operating Margin | 22.5% | — |
| Net Margin | 17.6% | -35.0% |
| Revenue YoY | 252.5% | -0.7% |
| Net Profit YoY | 322.2% | -962.0% |
| EPS (diluted) | $0.33 | $-12.00 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $1.2B | ||
| Q3 25 | $789.6M | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $224.0M | $1.2B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | $203.4M | $1.1B |
| Q4 25 | — | $-431.0M | ||
| Q3 25 | $139.1M | $-2.0M | ||
| Q2 25 | — | $69.0M | ||
| Q1 25 | — | $56.0M | ||
| Q4 24 | — | $50.0M | ||
| Q3 24 | $33.0M | $84.0M | ||
| Q2 24 | — | $37.0M | ||
| Q1 24 | $35.6M | $47.0M |
| Q4 25 | — | — | ||
| Q3 25 | 22.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 14.7% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 22.1% | — |
| Q4 25 | — | -35.0% | ||
| Q3 25 | 17.6% | -0.2% | ||
| Q2 25 | — | 6.0% | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | 14.7% | 6.9% | ||
| Q2 24 | — | 3.5% | ||
| Q1 24 | 17.5% | 4.2% |
| Q4 25 | — | $-12.00 | ||
| Q3 25 | $0.33 | $-0.07 | ||
| Q2 25 | — | $1.77 | ||
| Q1 25 | — | $1.46 | ||
| Q4 24 | — | $1.29 | ||
| Q3 24 | $0.08 | $2.12 | ||
| Q2 24 | — | $0.98 | ||
| Q1 24 | $0.09 | $1.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $669.2M | $406.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $405.0M | $2.0B |
| Total Assets | $1.1B | $9.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $406.0M | ||
| Q3 25 | $669.2M | $474.0M | ||
| Q2 25 | — | $205.0M | ||
| Q1 25 | — | $196.0M | ||
| Q4 24 | — | $197.0M | ||
| Q3 24 | $506.0M | $197.0M | ||
| Q2 24 | — | $206.0M | ||
| Q1 24 | $520.7M | $237.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $277.0K | — |
| Q4 25 | — | $2.0B | ||
| Q3 25 | $405.0M | $2.5B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | $291.3M | $2.4B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | $323.5M | $2.4B |
| Q4 25 | — | $9.8B | ||
| Q3 25 | $1.1B | $10.1B | ||
| Q2 25 | — | $9.9B | ||
| Q1 25 | — | $9.9B | ||
| Q4 24 | — | $9.8B | ||
| Q3 24 | $927.8M | $9.7B | ||
| Q2 24 | — | $9.6B | ||
| Q1 24 | $936.3M | $9.9B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.00× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $216.6M | $6.0M |
| Free Cash FlowOCF − Capex | $210.7M | $-6.0M |
| FCF MarginFCF / Revenue | 26.7% | -0.5% |
| Capex IntensityCapex / Revenue | 0.8% | 1.0% |
| Cash ConversionOCF / Net Profit | 1.56× | — |
| TTM Free Cash FlowTrailing 4 quarters | $359.6M | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $6.0M | ||
| Q3 25 | $216.6M | $62.0M | ||
| Q2 25 | — | $-48.0M | ||
| Q1 25 | — | $8.0M | ||
| Q4 24 | — | $100.0M | ||
| Q3 24 | $84.8M | $72.0M | ||
| Q2 24 | — | $30.0M | ||
| Q1 24 | $19.8M | $3.0M |
| Q4 25 | — | $-6.0M | ||
| Q3 25 | $210.7M | $51.0M | ||
| Q2 25 | — | $-68.0M | ||
| Q1 25 | — | $-6.0M | ||
| Q4 24 | — | $86.0M | ||
| Q3 24 | $83.3M | $58.0M | ||
| Q2 24 | — | $17.0M | ||
| Q1 24 | $18.1M | $-13.0M |
| Q4 25 | — | -0.5% | ||
| Q3 25 | 26.7% | 4.3% | ||
| Q2 25 | — | -5.9% | ||
| Q1 25 | — | -0.5% | ||
| Q4 24 | — | 6.9% | ||
| Q3 24 | 37.2% | 4.8% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | 8.9% | -1.2% |
| Q4 25 | — | 1.0% | ||
| Q3 25 | 0.8% | 0.9% | ||
| Q2 25 | — | 1.7% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | 0.7% | 1.1% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | 0.9% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | 1.56× | — | ||
| Q2 25 | — | -0.70× | ||
| Q1 25 | — | 0.14× | ||
| Q4 24 | — | 2.00× | ||
| Q3 24 | 2.57× | 0.86× | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | 0.56× | 0.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ATAT
Segment breakdown not available.
VAC
| Cost Reimbursement | $467.0M | 38% |
| Time Share | $381.0M | 31% |
| Management And Exchange | $212.0M | 17% |
| Ancillary Revenues | $64.0M | 5% |
| Management Service | $55.0M | 4% |
| Service Other | $36.0M | 3% |
