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Side-by-side financial comparison of M/I HOMES, INC. (MHO) 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 $1.1B, roughly 1.1× M/I HOMES, INC.). M/I HOMES, INC. runs the higher net margin — 5.6% vs -35.0%, a 40.6% gap on every dollar of revenue. On growth, MARRIOTT VACATIONS WORLDWIDE Corp posted the faster year-over-year revenue change (-0.7% vs -4.8%). MARRIOTT VACATIONS WORLDWIDE Corp produced more free cash flow last quarter ($-6.0M vs $-13.0M). Over the past eight quarters, MARRIOTT VACATIONS WORLDWIDE Corp's revenue compounded faster (5.2% CAGR vs 4.7%).
M/I Homes, Inc. is a leading U.S. residential construction company that designs, builds and sells single-family homes, townhomes and duplexes across multiple U.S. states. It caters to entry-level, move-up and luxury homebuyers, offering energy-efficient designs, flexible floor plans and personalized customization options.
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...
MHO vs VAC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $1.2B |
| Net Profit | $64.0M | $-431.0M |
| Gross Margin | 17.4% | — |
| Operating Margin | 6.5% | — |
| Net Margin | 5.6% | -35.0% |
| Revenue YoY | -4.8% | -0.7% |
| Net Profit YoY | -52.1% | -962.0% |
| EPS (diluted) | $2.42 | $-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 | $1.1B | $1.2B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $976.1M | $1.1B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $1.1B | $1.1B | ||
| Q1 24 | $1.0B | $1.1B |
| Q4 25 | $64.0M | $-431.0M | ||
| Q3 25 | $106.5M | $-2.0M | ||
| Q2 25 | $121.2M | $69.0M | ||
| Q1 25 | $111.2M | $56.0M | ||
| Q4 24 | $133.5M | $50.0M | ||
| Q3 24 | $145.4M | $84.0M | ||
| Q2 24 | $146.7M | $37.0M | ||
| Q1 24 | $138.1M | $47.0M |
| Q4 25 | 17.4% | — | ||
| Q3 25 | 24.5% | — | ||
| Q2 25 | 24.7% | — | ||
| Q1 25 | 25.9% | — | ||
| Q4 24 | 24.6% | — | ||
| Q3 24 | 27.1% | — | ||
| Q2 24 | 27.9% | — | ||
| Q1 24 | 27.1% | — |
| Q4 25 | 6.5% | — | ||
| Q3 25 | 12.0% | — | ||
| Q2 25 | 13.4% | — | ||
| Q1 25 | 14.4% | — | ||
| Q4 24 | 13.6% | — | ||
| Q3 24 | 15.9% | — | ||
| Q2 24 | 16.8% | — | ||
| Q1 24 | 16.6% | — |
| Q4 25 | 5.6% | -35.0% | ||
| Q3 25 | 9.4% | -0.2% | ||
| Q2 25 | 10.4% | 6.0% | ||
| Q1 25 | 11.4% | 5.0% | ||
| Q4 24 | 11.1% | 4.0% | ||
| Q3 24 | 12.7% | 6.9% | ||
| Q2 24 | 13.2% | 3.5% | ||
| Q1 24 | 13.2% | 4.2% |
| Q4 25 | $2.42 | $-12.00 | ||
| Q3 25 | $3.92 | $-0.07 | ||
| Q2 25 | $4.42 | $1.77 | ||
| Q1 25 | $3.98 | $1.46 | ||
| Q4 24 | $4.71 | $1.29 | ||
| Q3 24 | $5.10 | $2.12 | ||
| Q2 24 | $5.12 | $0.98 | ||
| Q1 24 | $4.78 | $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 | $3.2B | $2.0B |
| Total Assets | $4.8B | $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 | $3.2B | $2.0B | ||
| Q3 25 | $3.1B | $2.5B | ||
| Q2 25 | $3.1B | $2.5B | ||
| Q1 25 | $3.0B | $2.4B | ||
| Q4 24 | $2.9B | $2.4B | ||
| Q3 24 | $2.8B | $2.4B | ||
| Q2 24 | $2.7B | $2.4B | ||
| Q1 24 | $2.6B | $2.4B |
| Q4 25 | $4.8B | $9.8B | ||
| Q3 25 | $4.8B | $10.1B | ||
| Q2 25 | $4.7B | $9.9B | ||
| Q1 25 | $4.6B | $9.9B | ||
| Q4 24 | $4.5B | $9.8B | ||
| Q3 24 | $4.5B | $9.7B | ||
| Q2 24 | $4.3B | $9.6B | ||
| Q1 24 | $4.2B | $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 | $-8.7M | $6.0M |
| Free Cash FlowOCF − Capex | $-13.0M | $-6.0M |
| FCF MarginFCF / Revenue | -1.1% | -0.5% |
| Capex IntensityCapex / Revenue | 0.4% | 1.0% |
| Cash ConversionOCF / Net Profit | -0.14× | — |
| TTM Free Cash FlowTrailing 4 quarters | $127.7M | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | $6.0M | ||
| Q3 25 | $43.4M | $62.0M | ||
| Q2 25 | $37.8M | $-48.0M | ||
| Q1 25 | $64.9M | $8.0M | ||
| Q4 24 | $104.4M | $100.0M | ||
| Q3 24 | $-67.9M | $72.0M | ||
| Q2 24 | $27.5M | $30.0M | ||
| Q1 24 | $115.8M | $3.0M |
| Q4 25 | $-13.0M | $-6.0M | ||
| Q3 25 | $42.0M | $51.0M | ||
| Q2 25 | $35.1M | $-68.0M | ||
| Q1 25 | $63.5M | $-6.0M | ||
| Q4 24 | $102.3M | $86.0M | ||
| Q3 24 | $-68.5M | $58.0M | ||
| Q2 24 | $22.0M | $17.0M | ||
| Q1 24 | $115.5M | $-13.0M |
| Q4 25 | -1.1% | -0.5% | ||
| Q3 25 | 3.7% | 4.3% | ||
| Q2 25 | 3.0% | -5.9% | ||
| Q1 25 | 6.5% | -0.5% | ||
| Q4 24 | 8.5% | 6.9% | ||
| Q3 24 | -6.0% | 4.8% | ||
| Q2 24 | 2.0% | 1.6% | ||
| Q1 24 | 11.0% | -1.2% |
| Q4 25 | 0.4% | 1.0% | ||
| Q3 25 | 0.1% | 0.9% | ||
| Q2 25 | 0.2% | 1.7% | ||
| Q1 25 | 0.1% | 1.3% | ||
| Q4 24 | 0.2% | 1.1% | ||
| Q3 24 | 0.1% | 1.1% | ||
| Q2 24 | 0.5% | 1.2% | ||
| Q1 24 | 0.0% | 1.4% |
| Q4 25 | -0.14× | — | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 0.31× | -0.70× | ||
| Q1 25 | 0.58× | 0.14× | ||
| Q4 24 | 0.78× | 2.00× | ||
| Q3 24 | -0.47× | 0.86× | ||
| Q2 24 | 0.19× | 0.81× | ||
| Q1 24 | 0.84× | 0.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 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% |
