Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
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Valued as a loss-making company: Sales comps and Analyst consensus.
ACCE opinionMarriott Vacations Worldwide Corporation Common Stock (VAC)
Fair value (2 models)
Not available
ACCE price target
$105
Rating
Not rated
Horizon
12 months
ACCE price target published on 11 Oct 2026, 00:00 CEST.
Price used: $109 at the close on 23 Oct 2026, 22:00 CEST.
Models: Analyst consensus and Sales comps.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
62
out of 100
Analysts
67% buy
12 covering
P/E
0.0x
forward 7.0x
1-year return
+56.3%
Dividend yield
2.82%
Marriott Vacations Worldwide Corporation Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Marriott Vacations Worldwide sells timeshare and vacation ownership interests under the Marriott, Westin, Sheraton and Hyatt-branded resort lines, earning revenue from upfront sales, financing on the notes it extends to buyers, and recurring resort management and rental fees. The moat is the Marriott brand and its loyalty ecosystem, which feeds a steady flow of owner-buyers into the sales pipeline and supports a fee stream that is less cyclical than outright sales. Revenue grew 9.7% and the operating margin sits at 18.5%, against a gross margin of 53.1%, while the forward P/E of 7.0 is far below the trailing figure, which is distorted by the non-cash charges that pushed ROE to -14.7%. The fund should look closer if it believes the sales-to-financing model can keep converting top-line growth into cash as the business absorbs its recent acquisition and the stock trades at a single-digit forward multiple.