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Side-by-side financial comparison of Bath & Body Works, Inc. (BBWI) and MARRIOTT VACATIONS WORLDWIDE Corp (VAC). Click either name above to swap in a different company.
Bath & Body Works, Inc. is the larger business by last-quarter revenue ($1.6B vs $1.2B, roughly 1.3× MARRIOTT VACATIONS WORLDWIDE Corp). Bath & Body Works, Inc. runs the higher net margin — 4.8% vs -35.0%, a 39.8% gap on every dollar of revenue. On growth, MARRIOTT VACATIONS WORLDWIDE Corp posted the faster year-over-year revenue change (-0.7% vs -1.0%). Bath & Body Works, Inc. produced more free cash flow last quarter ($-1.0M vs $-6.0M). Over the past eight quarters, MARRIOTT VACATIONS WORLDWIDE Corp's revenue compounded faster (5.2% CAGR vs -26.0%).
Bath & Body Works, Inc. is an American specialty retail company based in Columbus, Ohio. It owns Bath & Body Works, posted $7.4 billion in revenue in 2023, and was listed as 481 on the 2024 Fortune 500 list of largest United States companies by revenue.
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...
BBWI vs VAC — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.2B |
| Net Profit | $77.0M | $-431.0M |
| Gross Margin | 41.3% | — |
| Operating Margin | 10.1% | — |
| Net Margin | 4.8% | -35.0% |
| Revenue YoY | -1.0% | -0.7% |
| Net Profit YoY | -27.4% | -962.0% |
| EPS (diluted) | $0.37 | $-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 | $1.6B | $1.2B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $2.8B | $1.1B | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $1.5B | $1.2B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $2.9B | $1.1B |
| Q4 25 | $77.0M | $-431.0M | ||
| Q3 25 | $64.0M | $-2.0M | ||
| Q2 25 | $105.0M | $69.0M | ||
| Q1 25 | $453.0M | $56.0M | ||
| Q4 24 | $106.0M | $50.0M | ||
| Q3 24 | $152.0M | $84.0M | ||
| Q2 24 | $87.0M | $37.0M | ||
| Q1 24 | $579.0M | $47.0M |
| Q4 25 | 41.3% | — | ||
| Q3 25 | 41.3% | — | ||
| Q2 25 | 45.4% | — | ||
| Q1 25 | 46.7% | — | ||
| Q4 24 | 43.5% | — | ||
| Q3 24 | 41.0% | — | ||
| Q2 24 | 43.8% | — | ||
| Q1 24 | 45.9% | — |
| Q4 25 | 10.1% | — | ||
| Q3 25 | 10.1% | — | ||
| Q2 25 | 14.7% | — | ||
| Q1 25 | 24.3% | — | ||
| Q4 24 | 13.5% | — | ||
| Q3 24 | 12.0% | — | ||
| Q2 24 | 13.5% | — | ||
| Q1 24 | 23.9% | — |
| Q4 25 | 4.8% | -35.0% | ||
| Q3 25 | 4.1% | -0.2% | ||
| Q2 25 | 7.4% | 6.0% | ||
| Q1 25 | 16.3% | 5.0% | ||
| Q4 24 | 6.6% | 4.0% | ||
| Q3 24 | 10.0% | 6.9% | ||
| Q2 24 | 6.3% | 3.5% | ||
| Q1 24 | 19.9% | 4.2% |
| Q4 25 | $0.37 | $-12.00 | ||
| Q3 25 | $0.30 | $-0.07 | ||
| Q2 25 | $0.49 | $1.77 | ||
| Q1 25 | $2.06 | $1.46 | ||
| Q4 24 | $0.49 | $1.29 | ||
| Q3 24 | $0.68 | $2.12 | ||
| Q2 24 | $0.38 | $0.98 | ||
| Q1 24 | $2.54 | $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 | $236.0M | $406.0M |
| Total DebtLower is stronger | $3.9B | — |
| Stockholders' EquityBook value | $-1.6B | $2.0B |
| Total Assets | $5.0B | $9.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $236.0M | $406.0M | ||
| Q3 25 | $364.0M | $474.0M | ||
| Q2 25 | $636.0M | $205.0M | ||
| Q1 25 | $674.0M | $196.0M | ||
| Q4 24 | $191.0M | $197.0M | ||
| Q3 24 | $514.0M | $197.0M | ||
| Q2 24 | $855.0M | $206.0M | ||
| Q1 24 | $1.1B | $237.0M |
| Q4 25 | $3.9B | — | ||
| Q3 25 | $3.9B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.9B | — | ||
| Q4 24 | $4.2B | — | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.4B | — |
| Q4 25 | $-1.6B | $2.0B | ||
| Q3 25 | $-1.5B | $2.5B | ||
| Q2 25 | $-1.5B | $2.5B | ||
| Q1 25 | $-1.4B | $2.4B | ||
| Q4 24 | $-1.7B | $2.4B | ||
| Q3 24 | $-1.7B | $2.4B | ||
| Q2 24 | $-1.7B | $2.4B | ||
| Q1 24 | $-1.6B | $2.4B |
| Q4 25 | $5.0B | $9.8B | ||
| Q3 25 | $4.8B | $10.1B | ||
| Q2 25 | $4.9B | $9.9B | ||
| Q1 25 | $4.9B | $9.9B | ||
| Q4 24 | $5.0B | $9.8B | ||
| Q3 24 | $4.9B | $9.7B | ||
| Q2 24 | $5.2B | $9.6B | ||
| Q1 24 | $5.5B | $9.9B |
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 | $80.0M | $6.0M |
| Free Cash FlowOCF − Capex | $-1.0M | $-6.0M |
| FCF MarginFCF / Revenue | -0.1% | -0.5% |
| Capex IntensityCapex / Revenue | 5.1% | 1.0% |
| Cash ConversionOCF / Net Profit | 1.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $946.0M | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.0M | $6.0M | ||
| Q3 25 | $-43.0M | $62.0M | ||
| Q2 25 | $188.0M | $-48.0M | ||
| Q1 25 | $955.0M | $8.0M | ||
| Q4 24 | $-99.0M | $100.0M | ||
| Q3 24 | $-46.0M | $72.0M | ||
| Q2 24 | $76.0M | $30.0M | ||
| Q1 24 | $926.0M | $3.0M |
| Q4 25 | $-1.0M | $-6.0M | ||
| Q3 25 | $-99.0M | $51.0M | ||
| Q2 25 | $151.0M | $-68.0M | ||
| Q1 25 | $895.0M | $-6.0M | ||
| Q4 24 | $-164.0M | $86.0M | ||
| Q3 24 | $-101.0M | $58.0M | ||
| Q2 24 | $30.0M | $17.0M | ||
| Q1 24 | $878.0M | $-13.0M |
| Q4 25 | -0.1% | -0.5% | ||
| Q3 25 | -6.4% | 4.3% | ||
| Q2 25 | 10.6% | -5.9% | ||
| Q1 25 | 32.1% | -0.5% | ||
| Q4 24 | -10.2% | 6.9% | ||
| Q3 24 | -6.6% | 4.8% | ||
| Q2 24 | 2.2% | 1.6% | ||
| Q1 24 | 30.2% | -1.2% |
| Q4 25 | 5.1% | 1.0% | ||
| Q3 25 | 3.6% | 0.9% | ||
| Q2 25 | 2.6% | 1.7% | ||
| Q1 25 | 2.2% | 1.3% | ||
| Q4 24 | 4.0% | 1.1% | ||
| Q3 24 | 3.6% | 1.1% | ||
| Q2 24 | 3.3% | 1.2% | ||
| Q1 24 | 1.6% | 1.4% |
| Q4 25 | 1.04× | — | ||
| Q3 25 | -0.67× | — | ||
| Q2 25 | 1.79× | -0.70× | ||
| Q1 25 | 2.11× | 0.14× | ||
| Q4 24 | -0.93× | 2.00× | ||
| Q3 24 | -0.30× | 0.86× | ||
| Q2 24 | 0.87× | 0.81× | ||
| Q1 24 | 1.60× | 0.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BBWI
| Bath Body Works Stores | $1.2B | 77% |
| Bath Body Works Direct | $299.0M | 19% |
| Bath Body Works International | $73.0M | 5% |
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% |
