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Side-by-side financial comparison of KB HOME (KBH) and MARRIOTT VACATIONS WORLDWIDE Corp (VAC). Click either name above to swap in a different company.
KB HOME is the larger business by last-quarter revenue ($1.7B vs $1.2B, roughly 1.4× MARRIOTT VACATIONS WORLDWIDE Corp). KB HOME runs the higher net margin — 6.0% vs -35.0%, a 41.0% gap on every dollar of revenue. On growth, MARRIOTT VACATIONS WORLDWIDE Corp posted the faster year-over-year revenue change (-0.7% vs -15.3%). KB HOME produced more free cash flow last quarter ($290.1M vs $-6.0M). Over the past eight quarters, KB HOME's revenue compounded faster (7.4% CAGR vs 5.2%).
KB Home is an American homebuilding company founded in 1957 as Kaufman & Broad in Detroit, Michigan. It was the first company to be traded on the New York Stock Exchange as a home builder. Its headquarters are in Los Angeles, California.
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...
KBH vs VAC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.7B | $1.2B |
| Net Profit | $101.5M | $-431.0M |
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Margin | 6.0% | -35.0% |
| Revenue YoY | -15.3% | -0.7% |
| Net Profit YoY | -46.7% | -962.0% |
| EPS (diluted) | $1.55 | $-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 | $1.7B | $1.2B | ||
| Q3 25 | $1.6B | $1.2B | ||
| Q2 25 | $1.5B | $1.2B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $2.0B | $1.2B | ||
| Q3 24 | $1.8B | $1.2B | ||
| Q2 24 | $1.7B | $1.1B | ||
| Q1 24 | $1.5B | $1.1B |
| Q4 25 | $101.5M | $-431.0M | ||
| Q3 25 | $109.8M | $-2.0M | ||
| Q2 25 | $107.9M | $69.0M | ||
| Q1 25 | $109.6M | $56.0M | ||
| Q4 24 | $190.6M | $50.0M | ||
| Q3 24 | $157.3M | $84.0M | ||
| Q2 24 | $168.4M | $37.0M | ||
| Q1 24 | $138.7M | $47.0M |
| Q4 25 | 6.0% | -35.0% | ||
| Q3 25 | 6.8% | -0.2% | ||
| Q2 25 | 7.1% | 6.0% | ||
| Q1 25 | 7.9% | 5.0% | ||
| Q4 24 | 9.5% | 4.0% | ||
| Q3 24 | 9.0% | 6.9% | ||
| Q2 24 | 9.9% | 3.5% | ||
| Q1 24 | 9.4% | 4.2% |
| Q4 25 | $1.55 | $-12.00 | ||
| Q3 25 | $1.61 | $-0.07 | ||
| Q2 25 | $1.50 | $1.77 | ||
| Q1 25 | $1.49 | $1.46 | ||
| Q4 24 | $2.50 | $1.29 | ||
| Q3 24 | $2.04 | $2.12 | ||
| Q2 24 | $2.15 | $0.98 | ||
| Q1 24 | $1.76 | $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 | — | $406.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.9B | $2.0B |
| Total Assets | $6.7B | $9.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $406.0M | ||
| Q3 25 | — | $474.0M | ||
| Q2 25 | — | $205.0M | ||
| Q1 25 | — | $196.0M | ||
| Q4 24 | — | $197.0M | ||
| Q3 24 | — | $197.0M | ||
| Q2 24 | — | $206.0M | ||
| Q1 24 | — | $237.0M |
| Q4 25 | $3.9B | $2.0B | ||
| Q3 25 | $3.9B | $2.5B | ||
| Q2 25 | $4.0B | $2.5B | ||
| Q1 25 | $4.1B | $2.4B | ||
| Q4 24 | $4.1B | $2.4B | ||
| Q3 24 | $4.0B | $2.4B | ||
| Q2 24 | $4.0B | $2.4B | ||
| Q1 24 | $3.9B | $2.4B |
| Q4 25 | $6.7B | $9.8B | ||
| Q3 25 | $7.0B | $10.1B | ||
| Q2 25 | $7.0B | $9.9B | ||
| Q1 25 | $7.0B | $9.9B | ||
| Q4 24 | $6.9B | $9.8B | ||
| Q3 24 | $6.8B | $9.7B | ||
| Q2 24 | $6.8B | $9.6B | ||
| Q1 24 | $6.7B | $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 | $303.8M | $6.0M |
| Free Cash FlowOCF − Capex | $290.1M | $-6.0M |
| FCF MarginFCF / Revenue | 17.1% | -0.5% |
| Capex IntensityCapex / Revenue | 0.8% | 1.0% |
| Cash ConversionOCF / Net Profit | 2.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | $287.3M | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $303.8M | $6.0M | ||
| Q3 25 | $197.7M | $62.0M | ||
| Q2 25 | $168.4M | $-48.0M | ||
| Q1 25 | $-334.3M | $8.0M | ||
| Q4 24 | $362.6M | $100.0M | ||
| Q3 24 | $-89.9M | $72.0M | ||
| Q2 24 | $61.5M | $30.0M | ||
| Q1 24 | $28.5M | $3.0M |
| Q4 25 | $290.1M | $-6.0M | ||
| Q3 25 | $185.8M | $51.0M | ||
| Q2 25 | $156.9M | $-68.0M | ||
| Q1 25 | $-345.5M | $-6.0M | ||
| Q4 24 | $352.6M | $86.0M | ||
| Q3 24 | $-99.4M | $58.0M | ||
| Q2 24 | $51.2M | $17.0M | ||
| Q1 24 | $19.1M | $-13.0M |
| Q4 25 | 17.1% | -0.5% | ||
| Q3 25 | 11.5% | 4.3% | ||
| Q2 25 | 10.3% | -5.9% | ||
| Q1 25 | -24.8% | -0.5% | ||
| Q4 24 | 17.6% | 6.9% | ||
| Q3 24 | -5.7% | 4.8% | ||
| Q2 24 | 3.0% | 1.6% | ||
| Q1 24 | 1.3% | -1.2% |
| Q4 25 | 0.8% | 1.0% | ||
| Q3 25 | 0.7% | 0.9% | ||
| Q2 25 | 0.8% | 1.7% | ||
| Q1 25 | 0.8% | 1.3% | ||
| Q4 24 | 0.5% | 1.1% | ||
| Q3 24 | 0.5% | 1.1% | ||
| Q2 24 | 0.6% | 1.2% | ||
| Q1 24 | 0.6% | 1.4% |
| Q4 25 | 2.99× | — | ||
| Q3 25 | 1.80× | — | ||
| Q2 25 | 1.56× | -0.70× | ||
| Q1 25 | -3.05× | 0.14× | ||
| Q4 24 | 1.90× | 2.00× | ||
| Q3 24 | -0.57× | 0.86× | ||
| Q2 24 | 0.37× | 0.81× | ||
| Q1 24 | 0.21× | 0.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KBH
| Home Building | $1.7B | 99% |
| Financial Service | $8.7M | 1% |
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% |
