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Side-by-side financial comparison of Frontier Group Holdings, Inc. (ULCC) 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 $997.0M, roughly 1.2× Frontier Group Holdings, Inc.). Frontier Group Holdings, Inc. runs the higher net margin — 5.3% vs -35.0%, a 40.3% gap on every dollar of revenue. On growth, Frontier Group Holdings, Inc. posted the faster year-over-year revenue change (-0.5% vs -0.7%). MARRIOTT VACATIONS WORLDWIDE Corp produced more free cash flow last quarter ($-6.0M vs $-113.0M). Over the past eight quarters, Frontier Group Holdings, Inc.'s revenue compounded faster (7.4% CAGR vs 5.2%).
Frontier Communications Parent, Inc. is an American telecommunications company with a fiber-optic network and cloud-based services owned by Verizon. It was previously known as Citizens Utilities Co., Citizens Communications Co., and Frontier Communications Corp.
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...
ULCC vs VAC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $997.0M | $1.2B |
| Net Profit | $53.0M | $-431.0M |
| Gross Margin | — | — |
| Operating Margin | 4.9% | — |
| Net Margin | 5.3% | -35.0% |
| Revenue YoY | -0.5% | -0.7% |
| Net Profit YoY | -1.9% | -962.0% |
| EPS (diluted) | $0.24 | $-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 | $997.0M | $1.2B | ||
| Q3 25 | $886.0M | $1.2B | ||
| Q2 25 | $929.0M | $1.2B | ||
| Q1 25 | $912.0M | $1.1B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $935.0M | $1.2B | ||
| Q2 24 | $973.0M | $1.1B | ||
| Q1 24 | $865.0M | $1.1B |
| Q4 25 | $53.0M | $-431.0M | ||
| Q3 25 | $-77.0M | $-2.0M | ||
| Q2 25 | $-70.0M | $69.0M | ||
| Q1 25 | $-43.0M | $56.0M | ||
| Q4 24 | $54.0M | $50.0M | ||
| Q3 24 | $26.0M | $84.0M | ||
| Q2 24 | $31.0M | $37.0M | ||
| Q1 24 | $-26.0M | $47.0M |
| Q4 25 | 4.9% | — | ||
| Q3 25 | -8.7% | — | ||
| Q2 25 | -8.1% | — | ||
| Q1 25 | -5.0% | — | ||
| Q4 24 | 4.5% | — | ||
| Q3 24 | 2.0% | — | ||
| Q2 24 | 2.6% | — | ||
| Q1 24 | -3.6% | — |
| Q4 25 | 5.3% | -35.0% | ||
| Q3 25 | -8.7% | -0.2% | ||
| Q2 25 | -7.5% | 6.0% | ||
| Q1 25 | -4.7% | 5.0% | ||
| Q4 24 | 5.4% | 4.0% | ||
| Q3 24 | 2.8% | 6.9% | ||
| Q2 24 | 3.2% | 3.5% | ||
| Q1 24 | -3.0% | 4.2% |
| Q4 25 | $0.24 | $-12.00 | ||
| Q3 25 | $-0.34 | $-0.07 | ||
| Q2 25 | $-0.31 | $1.77 | ||
| Q1 25 | $-0.19 | $1.46 | ||
| Q4 24 | $0.24 | $1.29 | ||
| Q3 24 | $0.11 | $2.12 | ||
| Q2 24 | $0.14 | $0.98 | ||
| Q1 24 | $-0.12 | $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 | $671.0M | $406.0M |
| Total DebtLower is stronger | $620.0M | — |
| Stockholders' EquityBook value | $491.0M | $2.0B |
| Total Assets | $7.2B | $9.8B |
| Debt / EquityLower = less leverage | 1.26× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $671.0M | $406.0M | ||
| Q3 25 | $566.0M | $474.0M | ||
| Q2 25 | $563.0M | $205.0M | ||
| Q1 25 | $686.0M | $196.0M | ||
| Q4 24 | $740.0M | $197.0M | ||
| Q3 24 | $576.0M | $197.0M | ||
| Q2 24 | $658.0M | $206.0M | ||
| Q1 24 | $622.0M | $237.0M |
| Q4 25 | $620.0M | — | ||
| Q3 25 | $673.0M | — | ||
| Q2 25 | $565.0M | — | ||
| Q1 25 | $512.0M | — | ||
| Q4 24 | $507.0M | — | ||
| Q3 24 | $474.0M | — | ||
| Q2 24 | $455.0M | — | ||
| Q1 24 | $469.0M | — |
| Q4 25 | $491.0M | $2.0B | ||
| Q3 25 | $434.0M | $2.5B | ||
| Q2 25 | $506.0M | $2.5B | ||
| Q1 25 | $570.0M | $2.4B | ||
| Q4 24 | $604.0M | $2.4B | ||
| Q3 24 | $549.0M | $2.4B | ||
| Q2 24 | $520.0M | $2.4B | ||
| Q1 24 | $484.0M | $2.4B |
| Q4 25 | $7.2B | $9.8B | ||
| Q3 25 | $6.7B | $10.1B | ||
| Q2 25 | $6.5B | $9.9B | ||
| Q1 25 | $6.5B | $9.9B | ||
| Q4 24 | $6.2B | $9.8B | ||
| Q3 24 | $5.8B | $9.7B | ||
| Q2 24 | $5.7B | $9.6B | ||
| Q1 24 | $5.2B | $9.9B |
| Q4 25 | 1.26× | — | ||
| Q3 25 | 1.55× | — | ||
| Q2 25 | 1.12× | — | ||
| Q1 25 | 0.90× | — | ||
| Q4 24 | 0.84× | — | ||
| Q3 24 | 0.86× | — | ||
| Q2 24 | 0.88× | — | ||
| Q1 24 | 0.97× | — |
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 | $-91.0M | $6.0M |
| Free Cash FlowOCF − Capex | $-113.0M | $-6.0M |
| FCF MarginFCF / Revenue | -11.3% | -0.5% |
| Capex IntensityCapex / Revenue | 2.2% | 1.0% |
| Cash ConversionOCF / Net Profit | -1.72× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-600.0M | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-91.0M | $6.0M | ||
| Q3 25 | $-215.0M | $62.0M | ||
| Q2 25 | $-133.0M | $-48.0M | ||
| Q1 25 | $-86.0M | $8.0M | ||
| Q4 24 | $87.0M | $100.0M | ||
| Q3 24 | $-156.0M | $72.0M | ||
| Q2 24 | $9.0M | $30.0M | ||
| Q1 24 | $-22.0M | $3.0M |
| Q4 25 | $-113.0M | $-6.0M | ||
| Q3 25 | $-217.0M | $51.0M | ||
| Q2 25 | $-166.0M | $-68.0M | ||
| Q1 25 | $-104.0M | $-6.0M | ||
| Q4 24 | $73.0M | $86.0M | ||
| Q3 24 | $-170.0M | $58.0M | ||
| Q2 24 | $-22.0M | $17.0M | ||
| Q1 24 | $-39.0M | $-13.0M |
| Q4 25 | -11.3% | -0.5% | ||
| Q3 25 | -24.5% | 4.3% | ||
| Q2 25 | -17.9% | -5.9% | ||
| Q1 25 | -11.4% | -0.5% | ||
| Q4 24 | 7.3% | 6.9% | ||
| Q3 24 | -18.2% | 4.8% | ||
| Q2 24 | -2.3% | 1.6% | ||
| Q1 24 | -4.5% | -1.2% |
| Q4 25 | 2.2% | 1.0% | ||
| Q3 25 | 0.2% | 0.9% | ||
| Q2 25 | 3.6% | 1.7% | ||
| Q1 25 | 2.0% | 1.3% | ||
| Q4 24 | 1.4% | 1.1% | ||
| Q3 24 | 1.5% | 1.1% | ||
| Q2 24 | 3.2% | 1.2% | ||
| Q1 24 | 2.0% | 1.4% |
| Q4 25 | -1.72× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.70× | ||
| Q1 25 | — | 0.14× | ||
| Q4 24 | 1.61× | 2.00× | ||
| Q3 24 | -6.00× | 0.86× | ||
| Q2 24 | 0.29× | 0.81× | ||
| Q1 24 | — | 0.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ULCC
| Aircraft Fare | $453.0M | 45% |
| Passenger Service Fees | $227.0M | 23% |
| Passenger Baggage | $177.0M | 18% |
| Passenger Seat Selection | $69.0M | 7% |
| Other Passenger Revenue | $36.0M | 4% |
| Other | $35.0M | 4% |
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% |
