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Side-by-side financial comparison of Lineage, Inc. (LINE) and MARRIOTT VACATIONS WORLDWIDE Corp (VAC). Click either name above to swap in a different company.
Lineage, Inc. is the larger business by last-quarter revenue ($1.4B vs $1.2B, roughly 1.1× MARRIOTT VACATIONS WORLDWIDE Corp). Lineage, Inc. runs the higher net margin — -7.3% vs -35.0%, a 27.8% gap on every dollar of revenue. On growth, Lineage, Inc. posted the faster year-over-year revenue change (3.1% vs -0.7%). Lineage, Inc. produced more free cash flow last quarter ($35.0M vs $-6.0M).
Norwegian Cruise Line Holdings (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.
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...
LINE vs VAC — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.2B |
| Net Profit | $-100.0M | $-431.0M |
| Gross Margin | 32.3% | — |
| Operating Margin | 2.5% | — |
| Net Margin | -7.3% | -35.0% |
| Revenue YoY | 3.1% | -0.7% |
| Net Profit YoY | 79.4% | -962.0% |
| EPS (diluted) | $-0.44 | $-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 | $1.4B | $1.2B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.3B | $1.1B | ||
| Q1 24 | $1.3B | $1.1B |
| Q4 25 | — | $-431.0M | ||
| Q3 25 | $-100.0M | $-2.0M | ||
| Q2 25 | $-6.0M | $69.0M | ||
| Q1 25 | $0 | $56.0M | ||
| Q4 24 | $-71.0M | $50.0M | ||
| Q3 24 | $-485.0M | $84.0M | ||
| Q2 24 | $-68.0M | $37.0M | ||
| Q1 24 | $-40.0M | $47.0M |
| Q4 25 | — | — | ||
| Q3 25 | 32.3% | — | ||
| Q2 25 | 31.9% | — | ||
| Q1 25 | 32.2% | — | ||
| Q4 24 | 32.3% | — | ||
| Q3 24 | 32.8% | — | ||
| Q2 24 | 33.4% | — | ||
| Q1 24 | 33.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | 2.5% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | -1.6% | — | ||
| Q3 24 | -38.6% | — | ||
| Q2 24 | 5.5% | — | ||
| Q1 24 | 7.6% | — |
| Q4 25 | — | -35.0% | ||
| Q3 25 | -7.3% | -0.2% | ||
| Q2 25 | -0.4% | 6.0% | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | -5.3% | 4.0% | ||
| Q3 24 | -36.3% | 6.9% | ||
| Q2 24 | -5.1% | 3.5% | ||
| Q1 24 | -3.0% | 4.2% |
| Q4 25 | — | $-12.00 | ||
| Q3 25 | $-0.44 | $-0.07 | ||
| Q2 25 | $-0.03 | $1.77 | ||
| Q1 25 | $0.01 | $1.46 | ||
| Q4 24 | $-0.52 | $1.29 | ||
| Q3 24 | $-2.44 | $2.12 | ||
| Q2 24 | $-0.46 | $0.98 | ||
| Q1 24 | $-0.28 | $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 | $8.4B | $2.0B |
| Total Assets | $19.2B | $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 | $173.0M | $197.0M | ||
| Q3 24 | $409.0M | $197.0M | ||
| Q2 24 | $73.0M | $206.0M | ||
| Q1 24 | — | $237.0M |
| Q4 25 | — | $2.0B | ||
| Q3 25 | $8.4B | $2.5B | ||
| Q2 25 | $8.6B | $2.5B | ||
| Q1 25 | $8.6B | $2.4B | ||
| Q4 24 | $8.6B | $2.4B | ||
| Q3 24 | $9.0B | $2.4B | ||
| Q2 24 | $4.9B | $2.4B | ||
| Q1 24 | $5.6B | $2.4B |
| Q4 25 | — | $9.8B | ||
| Q3 25 | $19.2B | $10.1B | ||
| Q2 25 | $19.4B | $9.9B | ||
| Q1 25 | $18.8B | $9.9B | ||
| Q4 24 | $18.7B | $9.8B | ||
| Q3 24 | $19.3B | $9.7B | ||
| Q2 24 | $18.8B | $9.6B | ||
| Q1 24 | — | $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 | $230.0M | $6.0M |
| Free Cash FlowOCF − Capex | $35.0M | $-6.0M |
| FCF MarginFCF / Revenue | 2.5% | -0.5% |
| Capex IntensityCapex / Revenue | 14.2% | 1.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $6.0M | ||
| Q3 25 | $230.0M | $62.0M | ||
| Q2 25 | $258.0M | $-48.0M | ||
| Q1 25 | $139.0M | $8.0M | ||
| Q4 24 | — | $100.0M | ||
| Q3 24 | $186.0M | $72.0M | ||
| Q2 24 | $155.0M | $30.0M | ||
| Q1 24 | $105.0M | $3.0M |
| Q4 25 | — | $-6.0M | ||
| Q3 25 | $35.0M | $51.0M | ||
| Q2 25 | $95.0M | $-68.0M | ||
| Q1 25 | $-12.0M | $-6.0M | ||
| Q4 24 | — | $86.0M | ||
| Q3 24 | $33.0M | $58.0M | ||
| Q2 24 | $-31.0M | $17.0M | ||
| Q1 24 | $-42.0M | $-13.0M |
| Q4 25 | — | -0.5% | ||
| Q3 25 | 2.5% | 4.3% | ||
| Q2 25 | 7.0% | -5.9% | ||
| Q1 25 | -0.9% | -0.5% | ||
| Q4 24 | — | 6.9% | ||
| Q3 24 | 2.5% | 4.8% | ||
| Q2 24 | -2.3% | 1.6% | ||
| Q1 24 | -3.2% | -1.2% |
| Q4 25 | — | 1.0% | ||
| Q3 25 | 14.2% | 0.9% | ||
| Q2 25 | 12.1% | 1.7% | ||
| Q1 25 | 11.7% | 1.3% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | 11.5% | 1.1% | ||
| Q2 24 | 13.9% | 1.2% | ||
| Q1 24 | 11.1% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.70× | ||
| Q1 25 | — | 0.14× | ||
| Q4 24 | — | 2.00× | ||
| Q3 24 | — | 0.86× | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | — | 0.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LINE
| Warehousing Operations | $883.0M | 64% |
| Other | $308.0M | 22% |
| Warehouse Lease | $60.0M | 4% |
| Food Sales | $52.0M | 4% |
| E Commerce And Other | $46.0M | 3% |
| Railcar Lease | $23.0M | 2% |
| Service Other | $5.0M | 0% |
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% |
