TNL · Travel & Leisure Co. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $961.00M | - | $1.04B | $1.02B | $934.00M | - | $993.00M | $985.00M | $916.00M | - |
| Cost of Revenue | $35.00M | - | $13.00M | $21.00M | $23.00M | - | $27.00M | $21.00M | $34.00M | - |
| Gross Profit | $926.00M | - | $1.03B | $997.00M | $911.00M | - | $966.00M | $964.00M | $882.00M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $121.00M | - | $122.00M | $116.00M | $122.00M | - | $111.00M | $128.00M | $112.00M | - |
| Total Operating Expenses | $802.00M | - | $830.00M | $812.00M | $778.00M | - | $804.00M | $796.00M | $766.00M | - |
| D&A | $32.00M | - | $31.00M | $31.00M | $30.00M | - | $29.00M | $28.00M | $28.00M | - |
| Operating Income | $159.00M | - | $214.00M | $206.00M | $156.00M | - | $189.00M | $189.00M | $150.00M | - |
| Interest Expense | $56.00M | - | $60.00M | $57.00M | $64.00M | - | $63.00M | $63.00M | $64.00M | - |
| Income Tax | $29.00M | - | $47.00M | $44.00M | $28.00M | - | $33.00M | $36.00M | $26.00M | - |
| Net Income | $79.00M | - | $111.00M | $108.00M | $73.00M | - | $97.00M | $129.00M | $66.00M | - |
| EPS - Basic | $1.25 | - | $1.70 | $1.63 | $1.09 | - | $1.40 | $1.82 | $0.93 | - |
| EPS - Diluted | $1.22 | - | $1.67 | $1.62 | $1.07 | - | $1.39 | $1.81 | $0.92 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $254.00M | $253.00M | $240.00M | $212.00M | $188.00M | $167.00M | $194.00M | $166.00M | $479.00M | $282.00M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | $1.18B | $1.13B | $1.27B | $1.25B | $1.22B | $1.23B | $1.21B | $1.21B | $1.19B | $1.14B |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $6.84B | $6.76B | $6.89B | $6.81B | $6.76B | $6.74B | $6.70B | $6.69B | $7.02B | $6.74B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | $5.75B | $5.60B | $5.58B | $5.59B | $5.66B | $5.59B | $5.58B | $5.58B | $5.92B | $5.65B |
| Total Liabilities | $7.86B | $7.74B | $7.71B | $7.66B | $7.67B | $7.62B | $7.56B | $7.58B | $7.95B | $7.66B |
| Stockholders' Equity | ($1.02B) | ($981.00M) | ($821.00M) | ($852.00M) | ($903.00M) | ($881.00M) | ($862.00M) | ($885.00M) | ($926.00M) | ($918.00M) |
| Retained Earnings | $2.45B | $2.41B | $2.51B | $2.44B | $2.37B | $2.33B | $2.25B | $2.19B | $2.10B | $2.07B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $38.00M | - | - | - | $121.00M | - | - | - | $47.00M | - |
| Investing Cash Flow | ($18.00M) | - | - | - | ($22.00M) | - | - | - | ($57.00M) | - |
| Financing Cash Flow | $7.00M | - | - | - | ($63.00M) | - | - | - | $203.00M | - |
| CapEx | $19.00M | - | - | - | $21.00M | - | - | - | $17.00M | - |
| Free Cash Flow | $19.00M | - | - | - | $100.00M | - | - | - | $30.00M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 96.4% | - | 98.8% | 97.9% | 97.5% | - | 97.3% | 97.9% | 96.3% | - |
| Operating margin | 16.5% | - | 20.5% | 20.2% | 16.7% | - | 19.0% | 19.2% | 16.4% | - |
| EBITDA margin | 19.9% | - | 23.5% | 23.3% | 19.9% | - | 22.0% | 22.0% | 19.4% | - |
| Net margin | 8.2% | - | 10.6% | 10.6% | 7.8% | - | 9.8% | 13.1% | 7.2% | - |
| Free cash flow margin | 2.0% | - | - | - | 10.7% | - | - | - | 3.3% | - |
| FCF / Net income | 0.24 | - | - | - | 1.37 | - | - | - | 0.45 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 12.6% | - | 11.7% | 11.4% | 13.1% | - | 11.2% | 13.0% | 12.2% | - |
| Effective tax rate | 26.9% | - | 29.7% | 28.9% | 27.7% | - | 25.4% | 21.8% | 28.3% | - |
| Return on assets | 1.2% | - | 1.6% | 1.6% | 1.1% | - | 1.4% | 1.9% | 0.9% | - |
| Return on equity | -7.7% | - | -13.5% | -12.7% | -8.1% | - | -11.3% | -14.6% | -7.1% | - |
| Return on invested capital | 2.5% | - | 3.2% | 3.1% | 2.4% | - | 3.0% | 3.1% | 2.2% | - |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | -5.63 | -5.71 | -6.79 | -6.56 | -6.27 | -6.35 | -6.47 | -6.30 | -6.40 | -6.15 |
| Debt / Assets | 0.84 | 0.83 | 0.81 | 0.82 | 0.84 | 0.83 | 0.83 | 0.83 | 0.84 | 0.84 |
| Debt / EBITDA | 30.13 | - | 22.77 | 23.57 | 30.42 | - | 25.58 | 25.70 | 33.28 | - |
| Interest coverage | 2.8x | - | 3.6x | 3.6x | 2.4x | - | 3.0x | 3.0x | 2.3x | - |
| Equity multiplier | -6.69 | -6.89 | -8.39 | -7.99 | -7.49 | -7.64 | -7.77 | -7.56 | -7.58 | -7.34 |
| Liabilities / Assets | 1.15 | 1.15 | 1.12 | 1.13 | 1.13 | 1.13 | 1.13 | 1.13 | 1.13 | 1.14 |
| Efficiency | ||||||||||
| Asset turnover | 0.14 | - | 0.15 | 0.15 | 0.14 | - | 0.15 | 0.15 | 0.13 | - |
| Inventory turnover | 0.03 | - | 0.01 | 0.02 | 0.02 | - | 0.02 | 0.02 | 0.03 | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | 12337d | - | 35630d | 21761d | 19377d | - | 16330d | 20961d | 12743d | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 56.7x | - | 35.6x | 31.9x | 43.3x | - | 33.2x | 24.9x | 53.2x | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | 4.6x | - | 3.8x | 3.4x | 3.4x | - | 3.3x | 3.2x | 3.8x | - |
| EV / EBITDA | 52.1x | - | 37.8x | 37.2x | 46.4x | - | 39.5x | 39.7x | 50.4x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 2.9% | - | 5.1% | 3.4% | 2.0% | - | 0.7% | 3.8% | 4.2% | - |
| Revenue CAGR (3y) | 3.0% | - | 3.7% | 3.4% | 4.9% | - | 5.8% | 7.3% | 13.4% | - |
| Revenue CAGR (5y) | 8.9% | - | 11.2% | 24.3% | 10.9% | - | -2.1% | -1.1% | -0.0% | - |
| Gross profit growth (YoY) | 1.6% | - | 6.7% | 3.4% | 3.3% | - | 2.4% | 5.2% | 3.9% | - |
| Operating income growth (YoY) | 1.9% | - | 13.2% | 9.0% | 4.0% | - | -8.7% | 3.3% | 8.7% | - |
| Net income growth (YoY) | 8.2% | - | 14.4% | -16.3% | 10.6% | - | -11.8% | 37.2% | 3.1% | - |
| EPS growth (YoY) | 14.0% | - | 20.1% | -10.5% | 16.3% | - | -6.7% | 44.8% | 13.6% | - |
| EPS CAGR (3y) | 14.6% | - | 6.6% | 11.8% | 21.9% | - | 6.5% | 30.2% | 40.7% | - |
| EPS CAGR (5y) | 29.9% | - | 28.9% | - | - | - | -1.1% | 6.5% | 1.6% | - |
| FCF growth (YoY) | -81.0% | - | - | - | 233.3% | - | - | - | - | - |
| FCF CAGR (5y) | -22.0% | - | - | - | 22.7% | - | - | - | -25.6% | - |
| Book value growth (YoY) | -13.2% | -11.4% | 4.8% | 3.7% | 2.5% | 4.0% | 14.5% | 12.7% | 5.9% | -0.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$4.02B totalVacation Ownership$3.36B · 83.6%
Travel And Membership$658.00M · 16.4%
Product / service
$6.63B totalVacation Ownership Interest Sales$1.85B · 27.9%
Serviceand Membership Fees$1.61B · 24.4%
Property Management Feesand Reimbursable Revenues$879.00M · 13.3%
Transaction Revenues$463.00M · 7.0%
Consumer Financing Revenue$454.00M · 6.9%
Management Fee Revenue$453.00M · 6.8%
Reimbursement Revenue$426.00M · 6.4%
Subscription Revenue$172.00M · 2.6%
Other Revenue$105.00M · 1.6%
Ancillary Revenues$103.00M · 1.6%
Fee For Service Commissions$78.00M · 1.2%
Other Exchange Related Revenue$35.00M · 0.5%
Eliminations($4.00M) · -0.1%
Geographic
$4.02B totalUS$3.54B · 88.2%
Non Us$476.00M · 11.8%
Peer comparison
Same SIC group: Hotels & Motels
Comparing Travel & Leisure Co. against the 5 most active filers in the same SIC group.
Dividends
$2.28/share trailing 12 months · +10.7% YoY
| Ex-date | Per share |
|---|---|
| Mar 20, 2026 | $0.6000 |
| Dec 12, 2025 | $0.5600 |
| Sep 12, 2025 | $0.5600 |
| Jun 13, 2025 | $0.5600 |
| Mar 17, 2025 | $0.5600 |
| Dec 13, 2024 | $0.5000 |
| Sep 13, 2024 | $0.5000 |
| Jun 14, 2024 | $0.5000 |
| Mar 20, 2024 | $0.5000 |
| Dec 14, 2023 | $0.4500 |
| Sep 14, 2023 | $0.4500 |
| Jun 14, 2023 | $0.4500 |
| Mar 14, 2023 | $0.4500 |
| Dec 14, 2022 | $0.4000 |
| Sep 14, 2022 | $0.4000 |
| Jun 14, 2022 | $0.4000 |
| Mar 14, 2022 | $0.4000 |
| Dec 14, 2021 | $0.3500 |
| Sep 14, 2021 | $0.3000 |
| Jun 14, 2021 | $0.3000 |
| Mar 12, 2021 | $0.3000 |
| Dec 14, 2020 | $0.3000 |
| Sep 14, 2020 | $0.3000 |
| Jun 12, 2020 | $0.5000 |