stockrowTravel + Leisure Co.
TNL Consumer Cyclical Travel Services
Travel + Leisure Co.’s revenue for fiscal 2025 (year ended December 2025) was $4.0 billion, up 4.06% from fiscal 2024.
- Revenue
- +5.46%
- EPS
- +4.12%
- Free cash flow
- −18.4%
- Total debt
- +8.75%
Quarter to September 2026, against a year earlier
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Travel + Leisure Co. (TNL) Gross margin
Travel + Leisure Co.'s gross margin over the twelve months to 30 September 2026 was 45.1%, up 0.6 percentage points from fiscal 2025 (44.5%). Over the past ten years it has ranged from 42.9% (fiscal 2020) to 52.1% (fiscal 2015); the current reading is higher than 18% of that period. That is below the Travel Services industry median of 52.2% and above the Consumer Cyclical sector median of 34.3%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 44.5% | (4.47) |
| FY2024 | 49.0% | 0.40 |
| FY2023 | 48.6% | 0.12 |
| FY2022 | 48.4% | (0.60) |
| FY2021 | 49.0% | 6.12 |
| FY2020 | 42.9% | (9.10) |
| FY2019 | 52.0% | 0.68 |
| FY2018 | 51.3% | 0.21 |
| FY2017 | 51.1% | 0.64 |
| FY2016 | 50.5% | (1.64) |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Sep 2026 | 50.3% | (0.86) |
| Jun 2026 | 51.2% | 4.15 |
| Mar 2026 | 47.0% | 15.71 |
| Dec 2025 | 31.3% | (19.45) |
| 43 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| PRSU Pursuit Attractions and Hospitality, Inc. compare | 92.5% |
| EXPE Expedia Group, Inc. compare | 90.5% |
| TCOM Trip.com Group Limited Sponsored ADR compare | 80.1% |
| MMYT MakeMyTrip Limited compare | 77.3% |
| LIND Lindblad Expeditions compare | 47.1% |
| TNL Travel + Leisure Co. | 45.1% |
| VIK Viking Holdings Ltd. compare | 43.2% |
| NCLH Norwegian Cruise Line Holdings Ltd. compare | 41.4% |
| TRIP TripAdvisor, Inc. compare | 0.00% |
| Travel Services industry median | 52.2% |
| Consumer Cyclical sector median | 34.3% |
| Market median | 45.1% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
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- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
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- Current ratio
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- Shares outstanding
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