IHG Hotels & Resorts vs Marriott Vacations Worldwide
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The short version
- IHG Hotels & Resorts is the larger business, with $5.2B of revenue in fiscal 2025 against $5.0B for Marriott Vacations Worldwide.
- IHG Hotels & Resorts grew revenue faster (5.4%, against 1.3%).
- IHG Hotels & Resorts turned more of its sales into free cash flow (16.8% FCF margin, against β0.6%).
| Latest fiscal year | IHG Β· FY25 | VAC Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $25.3B | $4.2B |
| Revenue | $5.2B | $5.0B |
| Free cash flow | $870M | β$29.0M |
| Net income | $758M | β$308M |
| Growth | ||
| Revenue growth | 5.4% | 1.3% |
| 5-year growth | 16.7% | 11.8% |
| Share count change | β4.4% | β17.1% |
| Profitability | ||
| Gross margin | 85.3% | β |
| Operating margin | 23.1% | β |
| Net margin | 14.6% | β6.1% |
| FCF margin | 16.8% | β0.6% |
| Return on capital | β | β |
| Return on equity | β | β13.9% |
| Balance sheet | ||
| Net debt | $3.1B | β |
| Net debt / EBITDA | 2.4x | β |
| Dividends and buybacks | $1.2B | $171M |
| Valuation & quality | ||
| P/E | β | β |
| Piotroski F-score | 8 | β |
Revenue
FY16
IHG $1.7B
VAC $2.0B
FY17
IHG $1.8B
VAC $2.2B
FY18
IHG $4.3B
VAC $3.0B
FY19
IHG $4.6B
VAC $4.3B
FY20
IHG $2.4B
VAC $2.9B
FY21
IHG $2.9B
VAC $3.9B
FY22
IHG $3.9B
VAC $4.7B
FY23
IHG $4.6B
VAC $4.7B
FY24
IHG $4.9B
VAC $5.0B
FY25
IHG $5.2B
VAC $5.0B
IHG
VAC
Operating margin
FY16
IHG 41.5%
VAC β
FY17
IHG 41.7%
VAC β
FY18
IHG 13.4%
VAC β
FY19
IHG 13.6%
VAC β
FY20
IHG β6.4%
VAC β
FY21
IHG 17.0%
VAC β
FY22
IHG 16.1%
VAC β
FY23
IHG 23.1%
VAC β
FY24
IHG 21.2%
VAC β
FY25
IHG 23.1%
VAC β
IHG
VAC
Free cash flow
FY16
IHG $678M
VAC $106M
FY17
IHG $572M
VAC $116M
FY18
IHG $663M
VAC $57.0M
FY19
IHG $578M
VAC $336M
FY20
IHG $111M
VAC $258M
FY21
IHG $619M
VAC $296M
FY22
IHG $592M
VAC $457M
FY23
IHG $865M
VAC $114M
FY24
IHG $695M
VAC $148M
FY25
IHG $870M
VAC β$29.0M
IHG
VAC
Return on capital
FY16
IHG β
VAC β
FY17
IHG β
VAC β
FY18
IHG β
VAC β
FY19
IHG β
VAC β
FY20
IHG β
VAC β
FY21
IHG β
VAC β
FY22
IHG β
VAC β
FY23
IHG β
VAC β
FY24
IHG β
VAC β
FY25
IHG β
VAC β
IHG
VAC
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.