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Side-by-side financial comparison of KeyCorp (KEY) and MARRIOTT VACATIONS WORLDWIDE Corp (VAC). Click either name above to swap in a different company.
KeyCorp is the larger business by last-quarter revenue ($2.0B vs $1.2B, roughly 1.6× MARRIOTT VACATIONS WORLDWIDE Corp). KeyCorp runs the higher net margin — 25.4% vs -35.0%, a 60.4% gap on every dollar of revenue. On growth, KeyCorp posted the faster year-over-year revenue change (131.8% vs -0.7%). KeyCorp produced more free cash flow last quarter ($2.1B vs $-6.0M). Over the past eight quarters, KeyCorp's revenue compounded faster (14.4% CAGR vs 5.2%).
Key is a Japanese visual novel studio known for making dramatic and plot-oriented titles. It was formed on July 21, 1998, as a brand under the publisher Visual Arts, and is located in Kita, Osaka.
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...
KEY vs VAC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $1.2B |
| Net Profit | $510.0M | $-431.0M |
| Gross Margin | — | — |
| Operating Margin | 32.3% | — |
| Net Margin | 25.4% | -35.0% |
| Revenue YoY | 131.8% | -0.7% |
| Net Profit YoY | 309.0% | -962.0% |
| EPS (diluted) | $0.43 | $-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 | $2.0B | $1.2B | ||
| Q3 25 | $1.9B | $1.2B | ||
| Q2 25 | $1.8B | $1.2B | ||
| Q1 25 | $1.8B | $1.1B | ||
| Q4 24 | $865.0M | $1.2B | ||
| Q3 24 | $695.0M | $1.2B | ||
| Q2 24 | $1.5B | $1.1B | ||
| Q1 24 | $1.5B | $1.1B |
| Q4 25 | $510.0M | $-431.0M | ||
| Q3 25 | $489.0M | $-2.0M | ||
| Q2 25 | $425.0M | $69.0M | ||
| Q1 25 | $405.0M | $56.0M | ||
| Q4 24 | $-244.0M | $50.0M | ||
| Q3 24 | $-410.0M | $84.0M | ||
| Q2 24 | $274.0M | $37.0M | ||
| Q1 24 | $219.0M | $47.0M |
| Q4 25 | 32.3% | — | ||
| Q3 25 | 31.8% | — | ||
| Q2 25 | 29.3% | — | ||
| Q1 25 | 29.0% | — | ||
| Q4 24 | -92.6% | — | ||
| Q3 24 | -72.8% | — | ||
| Q2 24 | 22.0% | — | ||
| Q1 24 | 18.1% | — |
| Q4 25 | 25.4% | -35.0% | ||
| Q3 25 | 25.8% | -0.2% | ||
| Q2 25 | 23.1% | 6.0% | ||
| Q1 25 | 22.8% | 5.0% | ||
| Q4 24 | -54.7% | 4.0% | ||
| Q3 24 | -59.0% | 6.9% | ||
| Q2 24 | 18.0% | 3.5% | ||
| Q1 24 | 14.3% | 4.2% |
| Q4 25 | $0.43 | $-12.00 | ||
| Q3 25 | $0.41 | $-0.07 | ||
| Q2 25 | $0.35 | $1.77 | ||
| Q1 25 | $0.33 | $1.46 | ||
| Q4 24 | $-0.30 | $1.29 | ||
| Q3 24 | $-0.47 | $2.12 | ||
| Q2 24 | $0.25 | $0.98 | ||
| Q1 24 | $0.20 | $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 | $10.2B | $406.0M |
| Total DebtLower is stronger | $9.9B | — |
| Stockholders' EquityBook value | $20.4B | $2.0B |
| Total Assets | $184.4B | $9.8B |
| Debt / EquityLower = less leverage | 0.49× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.2B | $406.0M | ||
| Q3 25 | $13.3B | $474.0M | ||
| Q2 25 | $11.6B | $205.0M | ||
| Q1 25 | $15.3B | $196.0M | ||
| Q4 24 | $17.5B | $197.0M | ||
| Q3 24 | $22.8B | $197.0M | ||
| Q2 24 | $15.5B | $206.0M | ||
| Q1 24 | $13.2B | $237.0M |
| Q4 25 | $9.9B | — | ||
| Q3 25 | $10.9B | — | ||
| Q2 25 | $12.1B | — | ||
| Q1 25 | $12.4B | — | ||
| Q4 24 | $12.1B | — | ||
| Q3 24 | $15.7B | — | ||
| Q2 24 | $16.9B | — | ||
| Q1 24 | $20.8B | — |
| Q4 25 | $20.4B | $2.0B | ||
| Q3 25 | $20.1B | $2.5B | ||
| Q2 25 | $19.5B | $2.5B | ||
| Q1 25 | $19.0B | $2.4B | ||
| Q4 24 | $18.2B | $2.4B | ||
| Q3 24 | $16.9B | $2.4B | ||
| Q2 24 | $14.8B | $2.4B | ||
| Q1 24 | $14.5B | $2.4B |
| Q4 25 | $184.4B | $9.8B | ||
| Q3 25 | $187.4B | $10.1B | ||
| Q2 25 | $185.5B | $9.9B | ||
| Q1 25 | $188.7B | $9.9B | ||
| Q4 24 | $187.2B | $9.8B | ||
| Q3 24 | $189.8B | $9.7B | ||
| Q2 24 | $187.4B | $9.6B | ||
| Q1 24 | $187.5B | $9.9B |
| Q4 25 | 0.49× | — | ||
| Q3 25 | 0.54× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.67× | — | ||
| Q3 24 | 0.93× | — | ||
| Q2 24 | 1.14× | — | ||
| Q1 24 | 1.43× | — |
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 | $2.2B | $6.0M |
| Free Cash FlowOCF − Capex | $2.1B | $-6.0M |
| FCF MarginFCF / Revenue | 104.8% | -0.5% |
| Capex IntensityCapex / Revenue | 5.3% | 1.0% |
| Cash ConversionOCF / Net Profit | 4.33× | — |
| TTM Free Cash FlowTrailing 4 quarters | $3.5B | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.2B | $6.0M | ||
| Q3 25 | $396.0M | $62.0M | ||
| Q2 25 | $1.2B | $-48.0M | ||
| Q1 25 | $-140.0M | $8.0M | ||
| Q4 24 | $664.0M | $100.0M | ||
| Q3 24 | $-1.2B | $72.0M | ||
| Q2 24 | $-217.0M | $30.0M | ||
| Q1 24 | $359.0M | $3.0M |
| Q4 25 | $2.1B | $-6.0M | ||
| Q3 25 | $367.0M | $51.0M | ||
| Q2 25 | $1.2B | $-68.0M | ||
| Q1 25 | $-150.0M | $-6.0M | ||
| Q4 24 | $599.0M | $86.0M | ||
| Q3 24 | $-1.2B | $58.0M | ||
| Q2 24 | $-230.0M | $17.0M | ||
| Q1 24 | $347.0M | $-13.0M |
| Q4 25 | 104.8% | -0.5% | ||
| Q3 25 | 19.4% | 4.3% | ||
| Q2 25 | 65.8% | -5.9% | ||
| Q1 25 | -8.5% | -0.5% | ||
| Q4 24 | 69.2% | 6.9% | ||
| Q3 24 | -175.8% | 4.8% | ||
| Q2 24 | -15.1% | 1.6% | ||
| Q1 24 | 22.6% | -1.2% |
| Q4 25 | 5.3% | 1.0% | ||
| Q3 25 | 1.5% | 0.9% | ||
| Q2 25 | 1.3% | 1.7% | ||
| Q1 25 | 0.6% | 1.3% | ||
| Q4 24 | 7.5% | 1.1% | ||
| Q3 24 | 2.4% | 1.1% | ||
| Q2 24 | 0.9% | 1.2% | ||
| Q1 24 | 0.8% | 1.4% |
| Q4 25 | 4.33× | — | ||
| Q3 25 | 0.81× | — | ||
| Q2 25 | 2.90× | -0.70× | ||
| Q1 25 | -0.35× | 0.14× | ||
| Q4 24 | — | 2.00× | ||
| Q3 24 | — | 0.86× | ||
| Q2 24 | -0.79× | 0.81× | ||
| Q1 24 | 1.64× | 0.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KEY
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% |
