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Side-by-side financial comparison of RH (RH) 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 $883.8M, roughly 1.4× RH). RH runs the higher net margin — 4.1% vs -35.0%, a 39.1% gap on every dollar of revenue. On growth, RH posted the faster year-over-year revenue change (8.9% vs -0.7%). RH produced more free cash flow last quarter ($83.0M vs $-6.0M). Over the past eight quarters, RH's revenue compounded faster (9.4% CAGR vs 5.2%).
RH is an upscale American home-furnishings company headquartered in Corte Madera, California. The company sells its merchandise through its retail stores, catalog, and online. As of August 2018, the company operated a total of 70 galleries, 18 full-line design galleries, and 3 baby-and-child galleries. The company also has 36 outlet stores in the United States and Canada.
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...
RH vs VAC — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $883.8M | $1.2B |
| Net Profit | $36.3M | $-431.0M |
| Gross Margin | 44.1% | — |
| Operating Margin | 12.0% | — |
| Net Margin | 4.1% | -35.0% |
| Revenue YoY | 8.9% | -0.7% |
| Net Profit YoY | 9.3% | -962.0% |
| EPS (diluted) | $1.83 | $-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 | $883.8M | $1.2B | ||
| Q3 25 | $899.2M | $1.2B | ||
| Q2 25 | $814.0M | $1.2B | ||
| Q1 25 | $812.4M | $1.1B | ||
| Q4 24 | $811.7M | $1.2B | ||
| Q3 24 | $829.7M | $1.2B | ||
| Q2 24 | $727.0M | $1.1B | ||
| Q1 24 | $738.3M | $1.1B |
| Q4 25 | $36.3M | $-431.0M | ||
| Q3 25 | $51.7M | $-2.0M | ||
| Q2 25 | $8.0M | $69.0M | ||
| Q1 25 | $13.9M | $56.0M | ||
| Q4 24 | $33.2M | $50.0M | ||
| Q3 24 | $29.0M | $84.0M | ||
| Q2 24 | $-3.6M | $37.0M | ||
| Q1 24 | $11.4M | $47.0M |
| Q4 25 | 44.1% | — | ||
| Q3 25 | 45.5% | — | ||
| Q2 25 | 43.7% | — | ||
| Q1 25 | 44.7% | — | ||
| Q4 24 | 44.5% | — | ||
| Q3 24 | 45.2% | — | ||
| Q2 24 | 43.5% | — | ||
| Q1 24 | 43.5% | — |
| Q4 25 | 12.0% | — | ||
| Q3 25 | 14.3% | — | ||
| Q2 25 | 6.9% | — | ||
| Q1 25 | 8.7% | — | ||
| Q4 24 | 12.5% | — | ||
| Q3 24 | 11.6% | — | ||
| Q2 24 | 7.5% | — | ||
| Q1 24 | 8.7% | — |
| Q4 25 | 4.1% | -35.0% | ||
| Q3 25 | 5.8% | -0.2% | ||
| Q2 25 | 1.0% | 6.0% | ||
| Q1 25 | 1.7% | 5.0% | ||
| Q4 24 | 4.1% | 4.0% | ||
| Q3 24 | 3.5% | 6.9% | ||
| Q2 24 | -0.5% | 3.5% | ||
| Q1 24 | 1.5% | 4.2% |
| Q4 25 | $1.83 | $-12.00 | ||
| Q3 25 | $2.62 | $-0.07 | ||
| Q2 25 | $0.40 | $1.77 | ||
| Q1 25 | $0.71 | $1.46 | ||
| Q4 24 | $1.66 | $1.29 | ||
| Q3 24 | $1.45 | $2.12 | ||
| Q2 24 | $-0.20 | $0.98 | ||
| Q1 24 | $0.91 | $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 | $43.1M | $406.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.3M | $2.0B |
| Total Assets | $4.8B | $9.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $43.1M | $406.0M | ||
| Q3 25 | $34.6M | $474.0M | ||
| Q2 25 | $46.1M | $205.0M | ||
| Q1 25 | $30.4M | $196.0M | ||
| Q4 24 | $87.0M | $197.0M | ||
| Q3 24 | $78.3M | $197.0M | ||
| Q2 24 | $101.8M | $206.0M | ||
| Q1 24 | $123.7M | $237.0M |
| Q4 25 | $3.3M | $2.0B | ||
| Q3 25 | $-40.9M | $2.5B | ||
| Q2 25 | $-110.8M | $2.5B | ||
| Q1 25 | $-163.6M | $2.4B | ||
| Q4 24 | $-183.0M | $2.4B | ||
| Q3 24 | $-234.7M | $2.4B | ||
| Q2 24 | $-289.9M | $2.4B | ||
| Q1 24 | $-297.4M | $2.4B |
| Q4 25 | $4.8B | $9.8B | ||
| Q3 25 | $4.7B | $10.1B | ||
| Q2 25 | $4.7B | $9.9B | ||
| Q1 25 | $4.6B | $9.9B | ||
| Q4 24 | $4.5B | $9.8B | ||
| Q3 24 | $4.4B | $9.7B | ||
| Q2 24 | $4.2B | $9.6B | ||
| Q1 24 | $4.1B | $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 | $131.9M | $6.0M |
| Free Cash FlowOCF − Capex | $83.0M | $-6.0M |
| FCF MarginFCF / Revenue | 9.4% | -0.5% |
| Capex IntensityCapex / Revenue | 5.5% | 1.0% |
| Cash ConversionOCF / Net Profit | 3.64× | — |
| TTM Free Cash FlowTrailing 4 quarters | $128.1M | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $131.9M | $6.0M | ||
| Q3 25 | $137.7M | $62.0M | ||
| Q2 25 | $86.6M | $-48.0M | ||
| Q1 25 | $-18.8M | $8.0M | ||
| Q4 24 | $-31.4M | $100.0M | ||
| Q3 24 | $11.2M | $72.0M | ||
| Q2 24 | $56.1M | $30.0M | ||
| Q1 24 | $-114.0M | $3.0M |
| Q4 25 | $83.0M | $-6.0M | ||
| Q3 25 | $80.7M | $51.0M | ||
| Q2 25 | $34.1M | $-68.0M | ||
| Q1 25 | $-69.7M | $-6.0M | ||
| Q4 24 | $-96.0M | $86.0M | ||
| Q3 24 | $-37.9M | $58.0M | ||
| Q2 24 | $-10.1M | $17.0M | ||
| Q1 24 | $-251.5M | $-13.0M |
| Q4 25 | 9.4% | -0.5% | ||
| Q3 25 | 9.0% | 4.3% | ||
| Q2 25 | 4.2% | -5.9% | ||
| Q1 25 | -8.6% | -0.5% | ||
| Q4 24 | -11.8% | 6.9% | ||
| Q3 24 | -4.6% | 4.8% | ||
| Q2 24 | -1.4% | 1.6% | ||
| Q1 24 | -34.1% | -1.2% |
| Q4 25 | 5.5% | 1.0% | ||
| Q3 25 | 6.3% | 0.9% | ||
| Q2 25 | 6.5% | 1.7% | ||
| Q1 25 | 6.3% | 1.3% | ||
| Q4 24 | 8.0% | 1.1% | ||
| Q3 24 | 5.9% | 1.1% | ||
| Q2 24 | 9.1% | 1.2% | ||
| Q1 24 | 18.6% | 1.4% |
| Q4 25 | 3.64× | — | ||
| Q3 25 | 2.66× | — | ||
| Q2 25 | 10.78× | -0.70× | ||
| Q1 25 | -1.35× | 0.14× | ||
| Q4 24 | -0.95× | 2.00× | ||
| Q3 24 | 0.39× | 0.86× | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | -10.01× | 0.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 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% |
