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Travel + Leisure Co. (TNL)

NYSE Consumer Discretionary Hotels, Resorts & Cruise Lines S&P MidCap 400
$75.33
+0.28 (+0.37%)
Close of Nov 06, 2026 · end-of-day data
Source: Travel + Leisure Co.'s 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 04, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$3.69B$3.81B$3.93B$4.04B$2.16B$3.13B$3.57B$3.75B$3.86B$4.02B
Cost of revenue—$150.00M$183.00M$186.00M$2.00M$157.00M$157.00M$133.00M$92.00M$273.00M
Gross profit—$3.66B$3.75B$3.86B$2.16B$2.98B$3.41B$3.62B$3.77B$3.75B
Operating income$658.00M$439.00M$523.00M$812.00M-$105.00M$618.00M$653.00M$720.00M$733.00M$553.00M
Interest expense$133.00M$155.00M$170.00M$162.00M$192.00M$198.00M$195.00M$251.00M$249.00M$232.00M
Pre-tax income$542.00M$318.00M$396.00M$680.00M-$276.00M$429.00M$486.00M$485.00M$513.00M$337.00M
Income tax$190.00M-$328.00M$130.00M$191.00M-$23.00M$116.00M$130.00M$94.00M$135.00M$107.00M
Net income$611.00M$854.00M$672.00M$507.00M-$255.00M$308.00M$357.00M$396.00M$411.00M$230.00M
EBITDA$830.00M$575.00M$661.00M$933.00M$21.00M$742.00M$772.00M$832.00M$848.00M$677.00M
EPS (basic)$5.56$8.29$6.80$5.50$-2.97$3.56$4.28$5.31$5.87$3.51
EPS (diluted)$5.52$8.24$6.77$5.48$-2.97$3.52$4.24$5.28$5.82$3.44
Diluted shares110.60M103.70M99.20M92.40M86.10M87.30M84.20M75.00M70.70M66.90M
Gross margin—96.1%95.3%95.4%99.9%95.0%95.6%96.5%97.6%93.2%
Operating margin17.8%11.5%13.3%20.1%-4.9%19.7%18.3%19.2%19.0%13.8%
Net margin16.5%22.4%17.1%12.5%-11.8%9.8%10.0%10.6%10.6%5.7%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$113.00M$48.00M$218.00M$355.00M$1.20B$369.00M$550.00M$282.00M$167.00M$253.00M
Short-term investments$14.00M$24.00M$25.00M$35.00M$26.00M$21.00M$18.00M$19.00M$18.00M$18.00M
Receivables$376.00M$195.00M$121.00M———————
Inventory$310.00M$1.25B$1.22B$1.20B$1.35B$1.22B$1.19B$1.14B$1.23B$1.13B
Total current assets$1.81B$3.00B————————
Goodwill$1.22B$911.00M$922.00M$970.00M$964.00M$961.00M$955.00M$962.00M$966.00M$972.00M
Total assets$9.82B$10.45B$7.16B$7.45B$7.61B$6.59B$6.76B$6.74B$6.74B$6.76B
Total current liabilities$2.03B$2.63B————————
Short-term debt$22.00M$104.00M————————
Long-term debt—$3.91B—$5.58B$6.42B$5.31B$5.64B$5.65B$5.59B$5.60B
Total debt$22.00M$4.01B—$5.58B$6.42B$5.31B$5.64B$5.65B$5.59B$5.60B
Total liabilities$9.10B$9.68B$7.73B$7.98B$8.58B$7.38B$7.66B$7.66B$7.62B$7.74B
Shareholders' equity$714.00M$769.00M-$574.00M-$530.00M-$975.00M-$801.00M-$913.00M-$918.00M-$881.00M-$981.00M

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$963.00M$986.00M$442.00M$452.00M$374.00M$568.00M$442.00M$350.00M$464.00M$640.00M
Capital expenditures$117.00M$107.00M$99.00M$108.00M$69.00M$57.00M$52.00M$74.00M$81.00M$117.00M
Free cash flow$846.00M$879.00M$343.00M$344.00M$305.00M$511.00M$390.00M$276.00M$383.00M$523.00M
Investing cash flow-$346.00M-$362.00M-$725.00M-$66.00M-$65.00M-$93.00M-$50.00M-$80.00M-$124.00M-$107.00M
Financing cash flow-$586.00M-$558.00M$280.00M-$289.00M$502.00M-$1.29B-$196.00M-$500.00M-$458.00M-$443.00M
Dividends paid$223.00M$242.00M$194.00M$166.00M$138.00M$109.00M$135.00M$136.00M$142.00M$149.00M
Share buybacks$619.00M$599.00M$330.00M$340.00M$128.00M$25.00M$351.00M$309.00M$234.00M$301.00M
Stock-based compensation$57.00M$59.00M$129.00M$24.00M$20.00M$32.00M$45.00M$38.00M$41.00M$57.00M
Depreciation & amortization$172.00M$136.00M$138.00M$121.00M$126.00M$124.00M$119.00M$112.00M$115.00M$124.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.