Pricing Log in Create free account
Sunday 11 October 2026 Export all TNL data to Excel Powerpack

Travel + 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. In the quarter to June 2026, revenue grew 4.42%, EPS grew 7.36%, free cash flow was flat and total debt rose 2.20%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five; insiders bought in the last twelve months.

62.62 0.01 +0.02%
Market cap
$3.8B
P/E
16.7×
Fwd P/E
10.0×
Dividend yield
3.77%
F-score
6/9
Altman Z
2.28
Beneish M
−2.71
Dividend safety
53/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.07
Total sells 31.63
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — 1 — — — — — —
Sell 3 — — 2 1 2 1 2 2 5 — —
Insider Ownership 5.99%

Capital & Financial Ratios $m

Market Cap 3,830.00
Revenue 4,093.00
Net Income 237.00
Free Cash Flow 452.00
Net Debt 5,239.00
Current Ratio 3.15 (at or above 1.5: strong)
Debt/Equity (5.60) (negative: negative equity)
P/E ratio 16.70
Fwd P/E 9.97
P/S ratio 0.95
P/B ratio 0.00
Past 5Y EPS Growth —
This Y EPS Growth 19.45% (at or above 15%: strong)
Next Y EPS Growth 15.58% (at or above 15%: strong)
Next Y revenue growth 4.00%
Next 5Y EPS Growth 16.61% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.7×, against a ten-year median of 2.7×; over the ten years it ranged from 1.7× in 2016 to 5.2× in 2021.
P/E against its own 10 years 86.77%
10-year low 10-year high
P/S against its own 10 years 37.92%
10-year low 10-year high
EV/Sales against its own 10 years 36.71%
10-year low 10-year high
EV/FCF against its own 10 years 50.26%
10-year low 10-year high

Dividends

Payout Ratio 0.64
Annual Dividend Rate 2.36
Annual Dividend Yield 3.77%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 2.42
0.60
0.60
0.60
2025 2.24
0.56
0.56
0.56
0.56
2024 2.00
0.50
0.50
0.50
0.50
2023 1.80
0.45
0.45
0.45
0.45
2022 1.60
0.40
0.40
0.40
0.40
2021 1.25
0.30
0.30
0.30
0.35
2020 1.60
0.50
0.50
0.30
0.30
2019 1.80
0.45
0.45
0.45
0.45
2018 1.53
0.30
0.41
0.41
0.41
2017 1.05
0.26
0.26
0.26
0.26
2016 0.90
0.23
0.23
0.23
0.23
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 458 329 426 471
Receivables 2,706 2,774 2,803 2,741
Inventory 1,135 1,227 1,128 1,179
Other — — — —
4,528 4,544 4,571 4,655
2023 2024 2025 Q'26
Payables 73 67 62 59
ST’ Debt — — — —
Other — — — —
1,322 1,302 1,440 1,478

Compound Annual Growth %

10y 5y 3y
Sales (1.91%) 13.23% 4.07%
Cash Flow (4.28%) 11.34% 13.13%
Earnings (9.32%) 0.00% (13.63%)
Book Value 0.00% 0.00% 0.00%

Revenue $m

Mar Jun Sep Dec Year
’26 961 1,063 — — —
’25 934 1,018 1,044 1,025 4,021
’24 916 985 993 970 3,864
’23 879 949 986 936 3,750
’22 809 922 937 899 3,567
’21 628 797 839 870 3,134
’20 558 343 614 645 2,160
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 38 220 — — —
’25 121 232 163 124 640
’24 47 174 145 98 464
’23 7 103 88 152 350
’22 141 89 37 175 442
’21 78 212 145 133 568
’20 57 73 94 150 374
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 19 195 — — —
’25 100 195 136 102 533
’24 30 154 125 75 384
’23 (5) 87 74 120 276
’22 131 75 25 167 398
’21 66 199 130 116 511
’20 36 55 77 137 305
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.22 1.72 — — —
’25 1.07 1.62 1.67 (0.95) 3.44
’24 0.92 1.81 1.39 1.72 5.82
’23 0.81 1.25 1.49 1.77 5.28
’22 0.59 1.16 1.38 1.12 4.24
’21 0.33 0.82 1.15 1.22 3.52
’20 (1.54) (1.92) 0.47 0.03 (2.97)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 27.35 34.02 33.55 34.77 13.74 42.79 33.57 32.10 37.99 37.77

Analyst estimates 2026–2028

Powerpack
High 36.61 52.82 57.77 52.28 53.13 68.26 63.19 44.99 56.91 73.43
People
People Employees 37,800 39,200 24,500 22,500 15,500 16,800 18,200 19,000 19,000 19,300
Revenue/emp, $m 0.10 0.10 0.16 0.18 0.14 0.19 0.20 0.20 0.20 0.21
Income, $m
Income, $m Revenue 3,692 3,806 3,931 4,043 2,160 3,134 3,567 3,750 3,864 4,021
Gross margin, % 50.49 51.13 51.34 52.02 42.92 49.04 48.44 48.56 48.96 44.49
EBT 542 318 396 680 (276) 429 486 485 513 337
EBT margin, % 14.68 8.36 10.07 16.82 (12.78) 13.69 13.62 12.93 13.28 8.38
Net income 612 855 672 507 (255) 308 357 396 411 230
Depreciation 127 136 138 121 126 124 119 112 115 124
Per share, $
Per share, $ Revenue 33.59 36.95 39.75 43.90 25.09 36.23 42.77 50.34 55.12 61.30
Earnings 5.56 8.46 6.80 5.50 (2.97) 3.56 4.28 5.31 5.87 3.51
Cash flow 8.76 9.57 4.47 4.91 4.34 6.57 5.30 4.70 6.62 9.76
Capex (1.06) (1.04) (1.00) (1.17) (0.80) (0.66) (0.53) (0.99) (1.14) (1.63)
Free cash flow 7.70 8.53 3.47 3.74 3.54 5.91 4.77 3.70 5.48 8.13
Book value 6.53 7.51 (5.75) (5.69) (11.24) (9.18) (10.84) (12.31) (12.55) (14.97)
Shares, m 110 103 99 92 86 87 83 75 70 66
Valuation, ×
Valuation, × P/E 6.15 6.19 5.29 9.35 0.00 15.57 8.26 7.62 8.55 20.33
P/S 1.02 1.43 0.90 1.18 1.79 1.53 0.83 0.81 0.92 1.15
P/B 5.25 7.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EV/Sales 2.46 3.01 2.74 2.51 4.15 3.21 2.73 2.69 2.75 2.90
EV/FCF 10.75 13.03 31.39 29.45 29.39 19.69 24.49 36.48 27.71 21.84
Cash, $m
Cash, $m Operating cash flow 963 986 442 452 374 568 442 350 464 640
Capex (117) (107) (99) (108) (69) (57) (44) (74) (80) (107)
Free cash flow 846 879 343 344 305 511 398 276 384 533
Balance, $m
Balance, $m Working capital (220) 3,044 3,320 3,599 1,793 2,997 3,273 3,206 3,242 3,131
Total debt 5,441 6,006 5,471 5,833 6,418 5,313 5,642 5,646 5,591 5,598
Net debt 5,328 5,787 5,098 5,331 5,101 4,816 4,954 5,188 5,262 5,172
Shareholders’ equity 718 774 (569) (524) (968) (794) (904) (917) (880) (982)
Returns, %
Returns, % ROA 6.30 8.43 7.63 6.94 (3.39) 4.34 5.35 5.87 6.10 3.41
ROIC 6.80 4.18 7.22 10.56 (1.59) 9.60 10.08 10.54 10.45 8.25
ROE 73.13 114.48 655.61 (92.77) 34.18 (34.96) (42.05) (43.49) (45.74) (24.70)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Travel + Leisure Co. vs peers in Travel Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CCL Carnival Corporation $35.1B 11.4× 12.3× +3.46% (above 0%: growing) +0.06% (above 0%: growing) −3.26% (below 0%: shrinking) 45.13% 26.31% Compare
EXPE Expedia Group, Inc. $32.4B 16.4× 14.4× +13.97% (above 0%: growing) +179.69% (above 0%: growing) +38.87% (above 0%: growing) 90.66% 18.54% Compare
TCOM Trip.com Group Limited Sponsored ADR $24.7B 7.5× 12.8× +11.39% (above 0%: growing) n/m +531.82% (above 0%: growing) 79.81% (9.36%) Compare
NCLH Norwegian Cruise Line Holdings Ltd. $7.1B 9.3× 12.6× +4.89% (above 0%: growing) +585.71% (above 0%: growing) −61.99% (below 0%: shrinking) 39.91% 13.76% Compare
MMYT MakeMyTrip Limited $4.1B 128× 82.6× +6.22% (above 0%: growing) −60.87% (below 0%: shrinking) −36.17% (below 0%: shrinking) 74.55% 15.30% Compare
TNL Travel + Leisure Co. $3.8B 16.7× 10.0× +4.42% (above 0%: growing) +7.36% (above 0%: growing) 0.00% 51.18% 19.76%
LIND Lindblad Expeditions $2.3B — (loss-making) 127× +18.64% (above 0%: growing) n/m +279.01% (above 0%: growing) 48.50% 6.00% Compare
PRSU Pursuit Attractions and Hospitality, Inc. $1.4B 39.3× 26.9× +14.35% (above 0%: growing) +175.00% (above 0%: growing) −139.39% (below 0%: shrinking) 92.82% 18.59% Compare
TRIP TripAdvisor, Inc. $1.1B 217× 21.2× −7.16% (below 0%: shrinking) −34.48% (below 0%: shrinking) −26.17% (below 0%: shrinking) 92.98% 8.55% Compare
Median of peers $5.6B 16.4× 17.8× +8.81% +87.53% −14.71% 77.18% 14.53%

All 18 Travel Services stocks →

Travel + Leisure Co. (TNL) key facts

  • Concern: Net income was $230.0 million, or $3.51 per share (basic), a net margin of 5.72%.
  • Strength: Travel + Leisure Co.’s revenue for fiscal 2025 (year ended December 2025) was $4.0 billion, up 4.06% from fiscal 2024.
  • Travel + Leisure Co. (TNL) is a Travel Services company in the Consumer Cyclical sector, listed on the New York Stock Exchange.
  • As of October 9, 2026, TNL traded at $62.62, a market capitalization of $3.8 billion.
  • At that price the stock trades at 16.7× trailing-twelve-month earnings and 1.0× sales; its P/E is higher than 87% of its own readings over the past ten years.
  • Travel + Leisure Co. pays an annual dividend of $2.36 per share, a yield of 3.77%, with a payout ratio of 64.5%.
  • Return on equity was −24.7% and debt-to-equity -5.60.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.28 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Travel + Leisure Co. (TNL) Latest News

31 May

Impact 5 ·
stockrow.com/TNL · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com