Marriott Vacations Worldwide Co (VAC) Stock Price & How to Invest

Marriott Vacations Worldwide sells vacation ownership interests, the modern points-based version of the timeshare, under an exclusive long-term brand license from Marriott International plus the Sheraton, Westin, Hyatt Residence Club and Grand Residences names. The Abound by Marriott Vacations program lets owners spend points across the portfolio. Roughly 96% of segment revenue comes from the Vacation Ownership segment (about $4.8 billion of 2025's $5.0 billion), with the remainder from Exchange and Third-Party Management, built around Interval International, a membership exchange network of roughly 1.5 million members and more than 3,200 affiliated resorts across 90-plus countries. The economics have three legs: developer profit on selling intervals, recurring resort management and club fees, and consumer financing, because the company lends to a large share of its own buyers and securitizes those receivables. Trailing twelve-month revenue was about $5.2 billion (roughly $3.5 billion excluding cost reimbursements) as of August 2026.

The investment picture in 2026 is a turnaround. Contract sales fell 3% in 2025, the company posted a $308 million full-year net loss driven by a $546 million non-cash impairment covering unbuilt project phases, real estate marked for sale and goodwill from the old ILG deal, and plaintiff firms opened securities-fraud investigations after the November 2025 quarter missed. Matt Avril became CEO in February 2026 with Mike Flaskey, formerly of Diamond Resorts, as President and COO, and the stated priorities shifted to profitability, cost discipline, inventory reduction and cash flow rather than tour volume. The second quarter of 2026 was the first clear proof point: contract sales rose 22% to $545 million on volume per guest up 23% to about $4,477, with total tours actually down 1%, adjusted EBITDA reached $215 million, and full-year adjusted EBITDA guidance moved up to $805 million to $830 million from $755 million to $780 million. Shares jumped more than 20% on the August 6 report to roughly $125, against a 52-week low near $44.58. Against that, corporate debt is about $3.1 billion with another $2.4 billion of non-recourse securitized notes, net corporate leverage sits at 4.0x, and the average published analyst target was still near $93 after the move.

This is a levered balance sheet attached to a discretionary purchase: about $3.1 billion of corporate debt plus $2.4 billion of non-recourse securitized notes, with net corporate leverage at 4.0x and liquidity of $928 million. Because the company finances a large share of its own buyers, a consumer credit deterioration hits twice, through slower sales and through higher loan loss provisions on the receivables portfolio, and the provision line has historically been a large and volatile swing factor. GAAP results look nothing like adjusted results: the trailing twelve-month net loss was roughly $334 million (about negative $9.74 per share) because of the $546 million impairment taken in the fourth quarter of 2025, so trailing P/E is meaningless and every valuation argument runs through non-GAAP figures. Several plaintiff firms (Pomerantz, Schall and Portnoy among them) opened securities-fraud investigations in early 2026 over disclosures around the November 2025 quarter, and the industry carries persistent consumer-protection, telemarketing and timeshare-exit litigation exposure. Finally, the second-quarter surge came from volume per guest rather than tour growth, which is harder to sustain indefinitely, and the stock traded above the average published analyst target immediately after the move.

10 analysts publish price targets on VAC, averaging $90.30 against a $124.75 price as of August 2026, or -27.6%. The published targets run from $52.00 to $119.00, a wide spread, and the ratings split 7 buy, 1 hold, 3 sell. Over the last six months there have been 10 raises and 2 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full VAC forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Marriott Vacations Worldwide Co. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Sales productivity, not tour volume, is carrying growth. Volume per guest rose about 23% year over year in the second quarter of 2026 to roughly $4,477, and contract sales rose 22% even though total tours fell 1% (North America tours were up 3%). The most optimistic published target, $119.00, assumes this works close to its best case.

The case against. This is a levered balance sheet attached to a discretionary purchase: about $3.1 billion of corporate debt plus $2.4 billion of non-recourse securitized notes, with net corporate leverage at 4.0x and liquidity of $928 million. The most pessimistic target, $52.00, is roughly what VAC is worth if this bites instead.

Read the full bull and bear case on VAC, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Marriott Vacations Worldwide Co's investor relations page or your broker.

• Revenue (TTM): ~$5.2 billion (~$3.5 billion excluding cost reimbursements)
• Q2 2026 contract sales / VPG: ~$545 million, up ~22%; VPG ~$4,477, up ~23%
• Q2 2026 adjusted EBITDA / adjusted EPS: ~$215 million (vs ~$203 million); ~$2.31, up ~18%
• GAAP net income (TTM): ~-$334 million (~-$9.74 per share) after the ~$546 million Q4 2025 impairment
• 2026 guidance (raised): Adjusted EBITDA ~$805-830 million, adjusted EPS ~$8.25-9.05, adjusted FCF ~$410-460 million
• Market cap / debt / dividend: ~$4.3 billion at ~$125 a share; ~$3.1 billion corporate debt plus ~$2.4 billion non-recourse; ~$3.20 annual dividend (~2.6% yield)

At roughly $125 a share against 2026 adjusted EPS guidance of $8.25 to $9.05, VAC trades near 14 to 15 times guided adjusted earnings, and enterprise value against the $805 million to $830 million adjusted EBITDA guide lands in the high single digits once the non-recourse securitized debt is excluded. Trailing GAAP numbers tell an opposite story (a net loss of about $334 million and no meaningful P/E) because of the fourth-quarter 2025 impairment, which is why bulls and bears quoting the same company cite unrecognizably different multiples. The stock had roughly tripled from its 52-week low of about $44.58 by early August 2026 and closed above the average published analyst target of roughly $93, so the market moved faster than the sell-side models.

Other names that sit close to VAC: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get VAC exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so VAC sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where VAC fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

VAC is a highly levered, capital-intensive timeshare operator in the middle of a credible operating turnaround, priced after a violent re-rating that already assumes the turnaround keeps working.

Whether VAC is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is VAC a buy or a sell?, and where the stock could go from here in the VAC stock forecast.

For income investors, whether VAC pays a dividend and how the payout looks is covered in does VAC pay a dividend? And to weigh VAC against a peer, read the full side-by-side comparisons: VAC vs HGV and VAC vs TNL.