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The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.36 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Marriott Vacations Worldwide's Beneish M-Score or its related term are showing as below:
VAC'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.66 Med: -2.37 Max: 2.36
Current: -2.36
During the past 13 years, the highest Beneish M-Score of Marriott Vacations Worldwide was 2.36. The lowest was -2.66. And the median was -2.37.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Resorts & Casinos subindustry, Marriott Vacations Worldwide's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Marriott Vacations Worldwide Beneish M-Score vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Marriott Vacations Worldwide's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Marriott Vacations Worldwide's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Marriott Vacations Worldwide for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 1.0358
+
0.528 * 1.022
+
0.404 * 0.9993
+
0.892 * 1.0167
+
0.115 * 0.8071
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0318
+
4.679 * 0.023315
-
0.327 * 1.0649
=
-2.36
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(149 / (149 + 1284))
/
(139 / (139 + 940))
=
0.103978
/
0.128823
=
0.8071
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(-334 - -699
-
144)
/
9479
=
0.023315
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Marriott Vacations Worldwide has a M-score of -2.36 suggests that the company is unlikely to be a manipulator.
Marriott Vacations Worldwide (VAC) has a Beneish M-Score of -2.36 as of Aug. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Marriott Vacations Worldwide and its competitors. According to the industry distribution chart, Marriott Vacations Worldwide ranks #577 out of 814 companies in the Travel & Leisure industry, placing it in the top 70.9%.
Is Marriott Vacations Worldwide's Beneish M-Score too high?
Marriott Vacations Worldwide's current Beneish M-Score is -2.36. Based on the distribution chart, Marriott Vacations Worldwide ranks #577 out of 814 companies in the Travel & Leisure industry, which is below the industry midpoint. Overall, Marriott Vacations Worldwide has a GF Score™ of 70/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Marriott Vacations Worldwide's Beneish M-Score compare to RRR and PENN?
According to the Travel & Leisure industry distribution chart, Marriott Vacations Worldwide ranks #577 out of 814 companies for Beneish M-Score. This places Marriott Vacations Worldwide in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Marriott Vacations Worldwide and its competitors. Marriott Vacations Worldwide's current Beneish M-Score is -2.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Marriott Vacations Worldwide stock overvalued right now?
Based on GuruFocus' analysis, Marriott Vacations Worldwide (VAC) is currently considered Modestly Overvalued. The stock's GF Value™ is $102.04, compared to a current price of $123.47 — trading 21% above its estimated fair value. The current Beneish M-Score is -2.36. Marriott Vacations Worldwide's overall GF Score™ is 70/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Marriott Vacations Worldwide (VAC), the current Beneish M-Score is -2.36 as of Aug. 09, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Marriott Vacations Worldwide (VAC) Overvalued in 2026?
Based on GuruFocus' analysis, Marriott Vacations Worldwide stock appears to be overvalued.
The current stock price of $123.47 is trading 21% above its estimated GF Value™ of $102.04.
GuruFocus considers Marriott Vacations Worldwide to be Modestly Overvalued.
Key valuation signals for VAC:
Beneish M-Score: -2.36
GF Value™: $102.04 vs. price of $123.47 (21% above fair value)
No single metric tells the full story. See the VAC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Marriott Vacations Worldwide Corp functions in the United States leisure industry. It owns and manages a cluster of resorts and accommodation facilities under trademarks like Marriott Vacation Club, Grand Residencies, and The Ritz-Carlton Destination Club predominantly in the United States. Some of its properties are also spread across Europe and Asia Pacific. Marriott's majority revenue components include the sale of vacation ownership products such as luxurious vacation packages. In addition, it offers purchase money financing to the end users of its core services. The company operates in two reportable segments: Vacation Ownership and Exchange & Third-Party Management. The majority of revenue is derived from the Vacation Ownership segment.
70GF Score
Get the complete analysis for VAC
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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