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Side-by-side financial comparison of Trade Desk (The) (TTD) 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 $846.8M, roughly 1.5× Trade Desk (The)). Trade Desk (The) runs the higher net margin — 22.1% vs -35.0%, a 57.1% gap on every dollar of revenue. On growth, Trade Desk (The) posted the faster year-over-year revenue change (14.3% vs -0.7%). Trade Desk (The) produced more free cash flow last quarter ($285.3M vs $-6.0M). Over the past eight quarters, Trade Desk (The)'s revenue compounded faster (31.3% CAGR vs 5.2%).
The Trade Desk, Inc. is an American multinational technology company that specializes in real-time programmatic marketing automation technologies, products, and services, designed to personalize digital content delivery to users.
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...
TTD vs VAC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $846.8M | $1.2B |
| Net Profit | $186.9M | $-431.0M |
| Gross Margin | 80.7% | — |
| Operating Margin | 30.3% | — |
| Net Margin | 22.1% | -35.0% |
| Revenue YoY | 14.3% | -0.7% |
| Net Profit YoY | 2.6% | -962.0% |
| EPS (diluted) | $0.39 | $-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 | $846.8M | $1.2B | ||
| Q3 25 | $739.4M | $1.2B | ||
| Q2 25 | $694.0M | $1.2B | ||
| Q1 25 | $616.0M | $1.1B | ||
| Q4 24 | $741.0M | $1.2B | ||
| Q3 24 | $628.0M | $1.2B | ||
| Q2 24 | $584.5M | $1.1B | ||
| Q1 24 | $491.3M | $1.1B |
| Q4 25 | $186.9M | $-431.0M | ||
| Q3 25 | $115.5M | $-2.0M | ||
| Q2 25 | $90.1M | $69.0M | ||
| Q1 25 | $50.7M | $56.0M | ||
| Q4 24 | $182.2M | $50.0M | ||
| Q3 24 | $94.2M | $84.0M | ||
| Q2 24 | $85.0M | $37.0M | ||
| Q1 24 | $31.7M | $47.0M |
| Q4 25 | 80.7% | — | ||
| Q3 25 | 78.1% | — | ||
| Q2 25 | 78.2% | — | ||
| Q1 25 | 76.8% | — | ||
| Q4 24 | 81.7% | — | ||
| Q3 24 | 80.5% | — | ||
| Q2 24 | 81.1% | — | ||
| Q1 24 | 78.9% | — |
| Q4 25 | 30.3% | — | ||
| Q3 25 | 21.8% | — | ||
| Q2 25 | 16.8% | — | ||
| Q1 25 | 8.8% | — | ||
| Q4 24 | 26.4% | — | ||
| Q3 24 | 17.3% | — | ||
| Q2 24 | 16.2% | — | ||
| Q1 24 | 5.8% | — |
| Q4 25 | 22.1% | -35.0% | ||
| Q3 25 | 15.6% | -0.2% | ||
| Q2 25 | 13.0% | 6.0% | ||
| Q1 25 | 8.2% | 5.0% | ||
| Q4 24 | 24.6% | 4.0% | ||
| Q3 24 | 15.0% | 6.9% | ||
| Q2 24 | 14.5% | 3.5% | ||
| Q1 24 | 6.4% | 4.2% |
| Q4 25 | $0.39 | $-12.00 | ||
| Q3 25 | $0.23 | $-0.07 | ||
| Q2 25 | $0.18 | $1.77 | ||
| Q1 25 | $0.10 | $1.46 | ||
| Q4 24 | $0.36 | $1.29 | ||
| Q3 24 | $0.19 | $2.12 | ||
| Q2 24 | $0.17 | $0.98 | ||
| Q1 24 | $0.06 | $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 | $1.3B | $406.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $2.0B |
| Total Assets | $6.2B | $9.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $406.0M | ||
| Q3 25 | $1.4B | $474.0M | ||
| Q2 25 | $1.7B | $205.0M | ||
| Q1 25 | $1.7B | $196.0M | ||
| Q4 24 | $1.9B | $197.0M | ||
| Q3 24 | $1.7B | $197.0M | ||
| Q2 24 | $1.5B | $206.0M | ||
| Q1 24 | $1.4B | $237.0M |
| Q4 25 | $2.5B | $2.0B | ||
| Q3 25 | $2.6B | $2.5B | ||
| Q2 25 | $2.7B | $2.5B | ||
| Q1 25 | $2.7B | $2.4B | ||
| Q4 24 | $2.9B | $2.4B | ||
| Q3 24 | $2.6B | $2.4B | ||
| Q2 24 | $2.4B | $2.4B | ||
| Q1 24 | $2.2B | $2.4B |
| Q4 25 | $6.2B | $9.8B | ||
| Q3 25 | $5.9B | $10.1B | ||
| Q2 25 | $6.0B | $9.9B | ||
| Q1 25 | $5.7B | $9.9B | ||
| Q4 24 | $6.1B | $9.8B | ||
| Q3 24 | $5.5B | $9.7B | ||
| Q2 24 | $5.2B | $9.6B | ||
| Q1 24 | $4.7B | $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 | $311.6M | $6.0M |
| Free Cash FlowOCF − Capex | $285.3M | $-6.0M |
| FCF MarginFCF / Revenue | 33.7% | -0.5% |
| Capex IntensityCapex / Revenue | 3.1% | 1.0% |
| Cash ConversionOCF / Net Profit | 1.67× | — |
| TTM Free Cash FlowTrailing 4 quarters | $795.7M | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $311.6M | $6.0M | ||
| Q3 25 | $224.7M | $62.0M | ||
| Q2 25 | $165.0M | $-48.0M | ||
| Q1 25 | $291.4M | $8.0M | ||
| Q4 24 | $199.4M | $100.0M | ||
| Q3 24 | $273.3M | $72.0M | ||
| Q2 24 | $81.3M | $30.0M | ||
| Q1 24 | $185.5M | $3.0M |
| Q4 25 | $285.3M | $-6.0M | ||
| Q3 25 | $158.3M | $51.0M | ||
| Q2 25 | $119.8M | $-68.0M | ||
| Q1 25 | $232.3M | $-6.0M | ||
| Q4 24 | $179.2M | $86.0M | ||
| Q3 24 | $224.6M | $58.0M | ||
| Q2 24 | $59.1M | $17.0M | ||
| Q1 24 | $178.2M | $-13.0M |
| Q4 25 | 33.7% | -0.5% | ||
| Q3 25 | 21.4% | 4.3% | ||
| Q2 25 | 17.3% | -5.9% | ||
| Q1 25 | 37.7% | -0.5% | ||
| Q4 24 | 24.2% | 6.9% | ||
| Q3 24 | 35.8% | 4.8% | ||
| Q2 24 | 10.1% | 1.6% | ||
| Q1 24 | 36.3% | -1.2% |
| Q4 25 | 3.1% | 1.0% | ||
| Q3 25 | 9.0% | 0.9% | ||
| Q2 25 | 6.5% | 1.7% | ||
| Q1 25 | 9.6% | 1.3% | ||
| Q4 24 | 2.7% | 1.1% | ||
| Q3 24 | 7.8% | 1.1% | ||
| Q2 24 | 3.8% | 1.2% | ||
| Q1 24 | 1.5% | 1.4% |
| Q4 25 | 1.67× | — | ||
| Q3 25 | 1.94× | — | ||
| Q2 25 | 1.83× | -0.70× | ||
| Q1 25 | 5.75× | 0.14× | ||
| Q4 24 | 1.09× | 2.00× | ||
| Q3 24 | 2.90× | 0.86× | ||
| Q2 24 | 0.96× | 0.81× | ||
| Q1 24 | 5.86× | 0.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
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% |
