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Side-by-side financial comparison of MARRIOTT VACATIONS WORLDWIDE Corp (VAC) and WATSCO INC (WSO). Click either name above to swap in a different company.
WATSCO INC is the larger business by last-quarter revenue ($1.5B vs $1.2B, roughly 1.2× MARRIOTT VACATIONS WORLDWIDE Corp). WATSCO INC runs the higher net margin — 6.1% vs -35.0%, a 41.1% gap on every dollar of revenue. On growth, WATSCO INC posted the faster year-over-year revenue change (0.1% vs -0.7%). Over the past eight quarters, MARRIOTT VACATIONS WORLDWIDE Corp's revenue compounded faster (5.2% CAGR vs -15.3%).
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...
Watsco, Inc. is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the United States. Watsco was founded more than 60 years ago as a manufacturer of parts, components, and tools used in the HVAC/R industry. In 1989, the company shifted from manufacturing to distribution, by acquiring Gemaire Distributors Inc., a South Florida-based Rheem distributor.
VAC vs WSO — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.5B |
| Net Profit | $-431.0M | $92.9M |
| Gross Margin | — | 27.9% |
| Operating Margin | — | 7.2% |
| Net Margin | -35.0% | 6.1% |
| Revenue YoY | -0.7% | 0.1% |
| Net Profit YoY | -962.0% | -1.7% |
| EPS (diluted) | $-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.
| Q1 26 | — | $1.5B | ||
| Q4 25 | $1.2B | $1.6B | ||
| Q3 25 | $1.2B | $2.1B | ||
| Q2 25 | $1.2B | $2.1B | ||
| Q1 25 | $1.1B | $1.5B | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $1.2B | $2.2B | ||
| Q2 24 | $1.1B | $2.1B |
| Q1 26 | — | $92.9M | ||
| Q4 25 | $-431.0M | $71.7M | ||
| Q3 25 | $-2.0M | $161.6M | ||
| Q2 25 | $69.0M | $183.6M | ||
| Q1 25 | $56.0M | $80.1M | ||
| Q4 24 | $50.0M | $96.8M | ||
| Q3 24 | $84.0M | $171.0M | ||
| Q2 24 | $37.0M | $181.4M |
| Q1 26 | — | 27.9% | ||
| Q4 25 | — | 27.1% | ||
| Q3 25 | — | 27.5% | ||
| Q2 25 | — | 29.3% | ||
| Q1 25 | — | 28.1% | ||
| Q4 24 | — | 26.7% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 27.1% |
| Q1 26 | — | 7.2% | ||
| Q4 25 | — | 6.4% | ||
| Q3 25 | — | 11.4% | ||
| Q2 25 | — | 13.2% | ||
| Q1 25 | — | 7.3% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 11.6% | ||
| Q2 24 | — | 12.6% |
| Q1 26 | — | 6.1% | ||
| Q4 25 | -35.0% | 4.5% | ||
| Q3 25 | -0.2% | 7.8% | ||
| Q2 25 | 6.0% | 8.9% | ||
| Q1 25 | 5.0% | 5.2% | ||
| Q4 24 | 4.0% | 5.5% | ||
| Q3 24 | 6.9% | 7.9% | ||
| Q2 24 | 3.5% | 8.5% |
| Q1 26 | — | — | ||
| Q4 25 | $-12.00 | $1.82 | ||
| Q3 25 | $-0.07 | $3.98 | ||
| Q2 25 | $1.77 | $4.52 | ||
| Q1 25 | $1.46 | $1.93 | ||
| Q4 24 | $1.29 | $2.42 | ||
| Q3 24 | $2.12 | $4.22 | ||
| Q2 24 | $0.98 | $4.49 |
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 | $392.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.0B | $3.2B |
| Total Assets | $9.8B | $4.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $392.7M | ||
| Q4 25 | $406.0M | $733.3M | ||
| Q3 25 | $474.0M | $524.3M | ||
| Q2 25 | $205.0M | $293.0M | ||
| Q1 25 | $196.0M | $431.8M | ||
| Q4 24 | $197.0M | $781.9M | ||
| Q3 24 | $197.0M | $550.0M | ||
| Q2 24 | $206.0M | $424.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $361.6M | ||
| Q3 25 | — | $340.8M | ||
| Q2 25 | — | $338.7M | ||
| Q1 25 | — | $346.4M | ||
| Q4 24 | — | $337.2M | ||
| Q3 24 | — | $321.0M | ||
| Q2 24 | — | $307.1M |
| Q1 26 | — | $3.2B | ||
| Q4 25 | $2.0B | $2.8B | ||
| Q3 25 | $2.5B | $2.8B | ||
| Q2 25 | $2.5B | $2.8B | ||
| Q1 25 | $2.4B | $2.7B | ||
| Q4 24 | $2.4B | $2.7B | ||
| Q3 24 | $2.4B | $2.7B | ||
| Q2 24 | $2.4B | $2.6B |
| Q1 26 | — | $4.6B | ||
| Q4 25 | $9.8B | $4.4B | ||
| Q3 25 | $10.1B | $4.6B | ||
| Q2 25 | $9.9B | $4.7B | ||
| Q1 25 | $9.9B | $4.5B | ||
| Q4 24 | $9.8B | $4.5B | ||
| Q3 24 | $9.7B | $4.5B | ||
| Q2 24 | $9.6B | $4.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.12× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× |
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 | $6.0M | — |
| Free Cash FlowOCF − Capex | $-6.0M | — |
| FCF MarginFCF / Revenue | -0.5% | — |
| Capex IntensityCapex / Revenue | 1.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-29.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $6.0M | $399.8M | ||
| Q3 25 | $62.0M | $354.9M | ||
| Q2 25 | $-48.0M | $-7.4M | ||
| Q1 25 | $8.0M | $-177.6M | ||
| Q4 24 | $100.0M | $378.9M | ||
| Q3 24 | $72.0M | $232.8M | ||
| Q2 24 | $30.0M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-6.0M | $388.5M | ||
| Q3 25 | $51.0M | $346.1M | ||
| Q2 25 | $-68.0M | $-14.3M | ||
| Q1 25 | $-6.0M | $-185.2M | ||
| Q4 24 | $86.0M | $370.9M | ||
| Q3 24 | $58.0M | $223.0M | ||
| Q2 24 | $17.0M | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | -0.5% | 24.6% | ||
| Q3 25 | 4.3% | 16.7% | ||
| Q2 25 | -5.9% | -0.7% | ||
| Q1 25 | -0.5% | -12.1% | ||
| Q4 24 | 6.9% | 21.1% | ||
| Q3 24 | 4.8% | 10.3% | ||
| Q2 24 | 1.6% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.0% | 0.7% | ||
| Q3 25 | 0.9% | 0.4% | ||
| Q2 25 | 1.7% | 0.3% | ||
| Q1 25 | 1.3% | 0.5% | ||
| Q4 24 | 1.1% | 0.5% | ||
| Q3 24 | 1.1% | 0.5% | ||
| Q2 24 | 1.2% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.57× | ||
| Q3 25 | — | 2.20× | ||
| Q2 25 | -0.70× | -0.04× | ||
| Q1 25 | 0.14× | -2.22× | ||
| Q4 24 | 2.00× | 3.91× | ||
| Q3 24 | 0.86× | 1.36× | ||
| Q2 24 | 0.81× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
WSO
Segment breakdown not available.
