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Side-by-side financial comparison of MARRIOTT VACATIONS WORLDWIDE Corp (VAC) and ZILLOW GROUP, INC. (ZG). 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 $654.0M, roughly 1.9× ZILLOW GROUP, INC.). ZILLOW GROUP, INC. runs the higher net margin — 0.5% vs -35.0%, a 35.5% gap on every dollar of revenue. On growth, ZILLOW GROUP, INC. posted the faster year-over-year revenue change (18.1% vs -0.7%). ZILLOW GROUP, INC. produced more free cash flow last quarter ($44.0M vs $-6.0M). Over the past eight quarters, ZILLOW GROUP, INC.'s revenue compounded faster (11.2% CAGR vs 5.2%).
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...
Zillow Group, Inc., or simply Zillow, is an American tech real-estate marketplace company that was founded in 2006 by co-executive chairmen Rich Barton and Lloyd Frink, former Microsoft executives and founders of Microsoft spin-off Expedia; Spencer Rascoff, a co-founder of Hotwire.com; David Beitel, Zillow's current chief technology officer; and Kristin Acker, Zillow's current technology leadership advisor.
VAC vs ZG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $654.0M |
| Net Profit | $-431.0M | $3.0M |
| Gross Margin | — | 72.8% |
| Operating Margin | — | -1.7% |
| Net Margin | -35.0% | 0.5% |
| Revenue YoY | -0.7% | 18.1% |
| Net Profit YoY | -962.0% | 105.8% |
| EPS (diluted) | $-12.00 | $0.01 |
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 | $654.0M | ||
| Q3 25 | $1.2B | $676.0M | ||
| Q2 25 | $1.2B | $655.0M | ||
| Q1 25 | $1.1B | $598.0M | ||
| Q4 24 | $1.2B | $554.0M | ||
| Q3 24 | $1.2B | $581.0M | ||
| Q2 24 | $1.1B | $572.0M | ||
| Q1 24 | $1.1B | $529.0M |
| Q4 25 | $-431.0M | $3.0M | ||
| Q3 25 | $-2.0M | $10.0M | ||
| Q2 25 | $69.0M | $2.0M | ||
| Q1 25 | $56.0M | $8.0M | ||
| Q4 24 | $50.0M | $-52.0M | ||
| Q3 24 | $84.0M | $-20.0M | ||
| Q2 24 | $37.0M | $-17.0M | ||
| Q1 24 | $47.0M | $-23.0M |
| Q4 25 | — | 72.8% | ||
| Q3 25 | — | 72.6% | ||
| Q2 25 | — | 74.7% | ||
| Q1 25 | — | 76.8% | ||
| Q4 24 | — | 75.8% | ||
| Q3 24 | — | 75.9% | ||
| Q2 24 | — | 77.3% | ||
| Q1 24 | — | 76.7% |
| Q4 25 | — | -1.7% | ||
| Q3 25 | — | -0.4% | ||
| Q2 25 | — | -1.7% | ||
| Q1 25 | — | -1.5% | ||
| Q4 24 | — | -12.5% | ||
| Q3 24 | — | -7.7% | ||
| Q2 24 | — | -6.6% | ||
| Q1 24 | — | -8.5% |
| Q4 25 | -35.0% | 0.5% | ||
| Q3 25 | -0.2% | 1.5% | ||
| Q2 25 | 6.0% | 0.3% | ||
| Q1 25 | 5.0% | 1.3% | ||
| Q4 24 | 4.0% | -9.4% | ||
| Q3 24 | 6.9% | -3.4% | ||
| Q2 24 | 3.5% | -3.0% | ||
| Q1 24 | 4.2% | -4.3% |
| Q4 25 | $-12.00 | $0.01 | ||
| Q3 25 | $-0.07 | $0.04 | ||
| Q2 25 | $1.77 | $0.01 | ||
| Q1 25 | $1.46 | $0.03 | ||
| Q4 24 | $1.29 | $-0.23 | ||
| Q3 24 | $2.12 | $-0.08 | ||
| Q2 24 | $0.98 | $-0.07 | ||
| Q1 24 | $1.22 | $-0.10 |
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 | $768.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.0B | $4.9B |
| Total Assets | $9.8B | $5.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $406.0M | $768.0M | ||
| Q3 25 | $474.0M | $874.0M | ||
| Q2 25 | $205.0M | $587.0M | ||
| Q1 25 | $196.0M | $914.0M | ||
| Q4 24 | $197.0M | $1.1B | ||
| Q3 24 | $197.0M | $1.1B | ||
| Q2 24 | $206.0M | $1.2B | ||
| Q1 24 | $237.0M | $1.4B |
| Q4 25 | $2.0B | $4.9B | ||
| Q3 25 | $2.5B | $5.0B | ||
| Q2 25 | $2.5B | $4.7B | ||
| Q1 25 | $2.4B | $4.8B | ||
| Q4 24 | $2.4B | $4.8B | ||
| Q3 24 | $2.4B | $4.7B | ||
| Q2 24 | $2.4B | $4.5B | ||
| Q1 24 | $2.4B | $4.7B |
| Q4 25 | $9.8B | $5.7B | ||
| Q3 25 | $10.1B | $5.7B | ||
| Q2 25 | $9.9B | $5.4B | ||
| Q1 25 | $9.9B | $5.7B | ||
| Q4 24 | $9.8B | $5.8B | ||
| Q3 24 | $9.7B | $6.2B | ||
| Q2 24 | $9.6B | $6.6B | ||
| Q1 24 | $9.9B | $6.8B |
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 | $72.0M |
| Free Cash FlowOCF − Capex | $-6.0M | $44.0M |
| FCF MarginFCF / Revenue | -0.5% | 6.7% |
| Capex IntensityCapex / Revenue | 1.0% | 4.3% |
| Cash ConversionOCF / Net Profit | — | 24.00× |
| TTM Free Cash FlowTrailing 4 quarters | $-29.0M | $235.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $6.0M | $72.0M | ||
| Q3 25 | $62.0M | $105.0M | ||
| Q2 25 | $-48.0M | $87.0M | ||
| Q1 25 | $8.0M | $104.0M | ||
| Q4 24 | $100.0M | $122.0M | ||
| Q3 24 | $72.0M | $171.0M | ||
| Q2 24 | $30.0M | $55.0M | ||
| Q1 24 | $3.0M | $80.0M |
| Q4 25 | $-6.0M | $44.0M | ||
| Q3 25 | $51.0M | $73.0M | ||
| Q2 25 | $-68.0M | $50.0M | ||
| Q1 25 | $-6.0M | $68.0M | ||
| Q4 24 | $86.0M | $88.0M | ||
| Q3 24 | $58.0M | $138.0M | ||
| Q2 24 | $17.0M | $18.0M | ||
| Q1 24 | $-13.0M | $41.0M |
| Q4 25 | -0.5% | 6.7% | ||
| Q3 25 | 4.3% | 10.8% | ||
| Q2 25 | -5.9% | 7.6% | ||
| Q1 25 | -0.5% | 11.4% | ||
| Q4 24 | 6.9% | 15.9% | ||
| Q3 24 | 4.8% | 23.8% | ||
| Q2 24 | 1.6% | 3.1% | ||
| Q1 24 | -1.2% | 7.8% |
| Q4 25 | 1.0% | 4.3% | ||
| Q3 25 | 0.9% | 4.7% | ||
| Q2 25 | 1.7% | 5.6% | ||
| Q1 25 | 1.3% | 6.0% | ||
| Q4 24 | 1.1% | 6.1% | ||
| Q3 24 | 1.1% | 5.7% | ||
| Q2 24 | 1.2% | 6.5% | ||
| Q1 24 | 1.4% | 7.4% |
| Q4 25 | — | 24.00× | ||
| Q3 25 | — | 10.50× | ||
| Q2 25 | -0.70× | 43.50× | ||
| Q1 25 | 0.14× | 13.00× | ||
| Q4 24 | 2.00× | — | ||
| Q3 24 | 0.86× | — | ||
| Q2 24 | 0.81× | — | ||
| Q1 24 | 0.06× | — |
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% |
ZG
| Residential Revenue | $418.0M | 64% |
| Rental Revenue | $168.0M | 26% |
| Mortgage Revenue | $57.0M | 9% |
| Display Advertising And Other Revenue | $11.0M | 2% |
