Recent leadership changes appointed Matt Avril as CEO and Mike Flaskey as President, with 2026 guidance pointing to higher contract sales and adjusted free cash flow while maintaining a $0.80 quarterly dividend. The company projects adjusted free cash flow could reach $375-425 million in 2026, driven by reduced inventory spending, working capital changes, and $200-250 million from non-core asset sales.
Cyborg Score Rationale
The company reported a 2025 net loss of $308 million with $577 million in non-cash impairment charges. However, strong 2026 guidance and new leadership signal operational reset. Current leverage stands at 4.2x, above desired long-term levels.
Top Insights
Jefferies Financial Group upgraded VAC to "Buy" with a $105 price target, representing 61.55% upside potential
2025 full-year revenue reached $5.03 billion despite $546 million in non-cash impairment charges impacting net income
Adjusted free cash flow guidance of $375-425 million for 2026 represents nearly 3x growth from 2025's $145 million
Management expects H1 2026 to be "bumpy" with potential contract sales decline in Q1 as company scales back Asia tour volume
Named Competitors
Hilton Grand Vacations — Vacation ownership and exchange services
Travel + Leisure — Vacation ownership and resort management
Recent Developments
(Feb 2026) New CEO Matt Avril and President Mike Flaskey appointed; company issued 2026 guidance while maintaining $0.80 quarterly dividend
(Feb 2026) Repaid $575 million of maturing convertible debt and sold Westin Resort & Spa Cancun for $50 million
(Mar 2026) Jefferies upgraded stock from Hold to Buy with $105 price target, up from prior $52 target
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