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) Operating margin
Travel + Leisure Co.'s operating margin over the twelve months to 30 September 2026 was 13.0%, down 0.7 percentage points from fiscal 2025 (13.8%). Over the past ten years it has ranged from −4.86% (fiscal 2020) to 20.1% (fiscal 2019); the current reading is higher than 36% of that period. That is below the Travel Services industry median of 15.6% and above the Consumer Cyclical sector median of 3.88%.
Operating margin, annual
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Annual newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 13.8% | (5.22) |
| FY2024 | 19.0% | (0.23) |
| FY2023 | 19.2% | 0.89 |
| FY2022 | 18.3% | (1.41) |
| FY2021 | 19.7% | 24.58 |
| FY2020 | −4.86% | (24.94) |
| FY2019 | 20.1% | 6.78 |
| FY2018 | 13.3% | 1.77 |
| FY2017 | 11.5% | (6.29) |
| FY2016 | 17.8% | (1.35) |
Quarterly newest first
| Period | Operating margin | Change (points) |
|---|---|---|
| Sep 2026 | 17.7% | (2.05) |
| Jun 2026 | 19.8% | 3.21 |
| Mar 2026 | 16.6% | 18.79 |
| Dec 2025 | −2.24% | (22.74) |
| 43 more quarters | Free account |
Against its own ten years
Operating margin against peers
| Company | Operating margin |
|---|---|
| VIK Viking Holdings Ltd. compare | 23.3% |
| PRSU Pursuit Attractions and Hospitality, Inc. compare | 17.5% |
| EXPE Expedia Group, Inc. compare | 17.2% |
| TCOM Trip.com Group Limited Sponsored ADR compare | 16.1% |
| MMYT MakeMyTrip Limited compare | 15.2% |
| NCLH Norwegian Cruise Line Holdings Ltd. compare | 13.9% |
| TNL Travel + Leisure Co. | 13.0% |
| LIND Lindblad Expeditions compare | 7.54% |
| TRIP TripAdvisor, Inc. compare | 0.00% |
| Travel Services industry median | 15.6% |
| Consumer Cyclical sector median | 3.88% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
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- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
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- 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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