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Side-by-side financial comparison of Public Storage (PSA) 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 $1.2B, roughly 1.0× Public Storage). Public Storage runs the higher net margin — 41.7% vs -35.0%, a 76.7% gap on every dollar of revenue. On growth, Public Storage posted the faster year-over-year revenue change (3.3% vs -0.7%). Over the past eight quarters, MARRIOTT VACATIONS WORLDWIDE Corp's revenue compounded faster (5.2% CAGR vs 2.5%).
Public Storage, headquartered in Glendale, California, is a real estate investment trust that invests in self storage. It is the largest brand of self-storage services in the US and owns approximately 9% of the self storage square footage in the U.S. As of December 31, 2024, the company operated 3,073 self-storage facilities containing an aggregate of 221 million net rentable square feet of space.
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...
PSA vs VAC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.2B |
| Net Profit | $507.1M | $-431.0M |
| Gross Margin | — | — |
| Operating Margin | 40.7% | — |
| Net Margin | 41.7% | -35.0% |
| Revenue YoY | 3.3% | -0.7% |
| Net Profit YoY | -17.5% | -962.0% |
| EPS (diluted) | $2.59 | $-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 | $1.2B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $1.1B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $1.2B | $1.1B | ||
| Q1 24 | $1.2B | $1.1B |
| Q4 25 | $507.1M | $-431.0M | ||
| Q3 25 | $511.1M | $-2.0M | ||
| Q2 25 | $358.4M | $69.0M | ||
| Q1 25 | $407.8M | $56.0M | ||
| Q4 24 | $614.6M | $50.0M | ||
| Q3 24 | $430.3M | $84.0M | ||
| Q2 24 | $518.1M | $37.0M | ||
| Q1 24 | $508.9M | $47.0M |
| Q4 25 | 40.7% | — | ||
| Q3 25 | 42.3% | — | ||
| Q2 25 | 30.4% | — | ||
| Q1 25 | 34.8% | — | ||
| Q4 24 | 52.4% | — | ||
| Q3 24 | 36.7% | — | ||
| Q2 24 | 44.6% | — | ||
| Q1 24 | 44.3% | — |
| Q4 25 | 41.7% | -35.0% | ||
| Q3 25 | 41.8% | -0.2% | ||
| Q2 25 | 29.8% | 6.0% | ||
| Q1 25 | 34.5% | 5.0% | ||
| Q4 24 | 52.2% | 4.0% | ||
| Q3 24 | 36.2% | 6.9% | ||
| Q2 24 | 44.2% | 3.5% | ||
| Q1 24 | 44.0% | 4.2% |
| Q4 25 | $2.59 | $-12.00 | ||
| Q3 25 | $2.62 | $-0.07 | ||
| Q2 25 | $1.76 | $1.77 | ||
| Q1 25 | $2.04 | $1.46 | ||
| Q4 24 | $3.22 | $1.29 | ||
| Q3 24 | $2.16 | $2.12 | ||
| Q2 24 | $2.66 | $0.98 | ||
| Q1 24 | $2.60 | $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 | $318.1M | $406.0M |
| Total DebtLower is stronger | $10.3B | — |
| Stockholders' EquityBook value | $9.2B | $2.0B |
| Total Assets | $20.2B | $9.8B |
| Debt / EquityLower = less leverage | 1.11× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $318.1M | $406.0M | ||
| Q3 25 | $296.5M | $474.0M | ||
| Q2 25 | $1.1B | $205.0M | ||
| Q1 25 | $287.2M | $196.0M | ||
| Q4 24 | $447.4M | $197.0M | ||
| Q3 24 | $599.0M | $197.0M | ||
| Q2 24 | $542.3M | $206.0M | ||
| Q1 24 | $271.6M | $237.0M |
| Q4 25 | $10.3B | — | ||
| Q3 25 | $10.0B | — | ||
| Q2 25 | $10.4B | — | ||
| Q1 25 | $9.4B | — | ||
| Q4 24 | $9.4B | — | ||
| Q3 24 | $9.5B | — | ||
| Q2 24 | $9.4B | — | ||
| Q1 24 | $9.1B | — |
| Q4 25 | $9.2B | $2.0B | ||
| Q3 25 | $9.3B | $2.5B | ||
| Q2 25 | $9.4B | $2.5B | ||
| Q1 25 | $9.6B | $2.4B | ||
| Q4 24 | $9.7B | $2.4B | ||
| Q3 24 | $9.6B | $2.4B | ||
| Q2 24 | $9.7B | $2.4B | ||
| Q1 24 | $9.9B | $2.4B |
| Q4 25 | $20.2B | $9.8B | ||
| Q3 25 | $20.1B | $10.1B | ||
| Q2 25 | $20.5B | $9.9B | ||
| Q1 25 | $19.6B | $9.9B | ||
| Q4 24 | $19.8B | $9.8B | ||
| Q3 24 | $19.8B | $9.7B | ||
| Q2 24 | $19.8B | $9.6B | ||
| Q1 24 | $19.6B | $9.9B |
| Q4 25 | 1.11× | — | ||
| Q3 25 | 1.08× | — | ||
| Q2 25 | 1.11× | — | ||
| Q1 25 | 0.99× | — | ||
| Q4 24 | 0.96× | — | ||
| Q3 24 | 0.99× | — | ||
| Q2 24 | 0.97× | — | ||
| Q1 24 | 0.91× | — |
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 | $733.6M | $6.0M |
| Free Cash FlowOCF − Capex | — | $-6.0M |
| FCF MarginFCF / Revenue | — | -0.5% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | 1.45× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $733.6M | $6.0M | ||
| Q3 25 | $875.1M | $62.0M | ||
| Q2 25 | $872.7M | $-48.0M | ||
| Q1 25 | $705.1M | $8.0M | ||
| Q4 24 | $768.6M | $100.0M | ||
| Q3 24 | $798.8M | $72.0M | ||
| Q2 24 | $895.3M | $30.0M | ||
| Q1 24 | $665.6M | $3.0M |
| Q4 25 | — | $-6.0M | ||
| Q3 25 | — | $51.0M | ||
| Q2 25 | — | $-68.0M | ||
| Q1 25 | — | $-6.0M | ||
| Q4 24 | — | $86.0M | ||
| Q3 24 | — | $58.0M | ||
| Q2 24 | — | $17.0M | ||
| Q1 24 | — | $-13.0M |
| Q4 25 | — | -0.5% | ||
| Q3 25 | — | 4.3% | ||
| Q2 25 | — | -5.9% | ||
| Q1 25 | — | -0.5% | ||
| Q4 24 | — | 6.9% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | -1.2% |
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 1.7% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 1.4% |
| Q4 25 | 1.45× | — | ||
| Q3 25 | 1.71× | — | ||
| Q2 25 | 2.43× | -0.70× | ||
| Q1 25 | 1.73× | 0.14× | ||
| Q4 24 | 1.25× | 2.00× | ||
| Q3 24 | 1.86× | 0.86× | ||
| Q2 24 | 1.73× | 0.81× | ||
| Q1 24 | 1.31× | 0.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PSA
| Self Storage Operations | $1.1B | 93% |
| Ancillary Operations | $86.9M | 7% |
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% |
