What are Travel + Leisure's profit margins?

Gross margin is 93.0% and operating margin is 14.3%, with a 10.4% net margin.

Where does Travel + Leisure's income statement data come from?

Every line is extracted from Travel + Leisure's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.

Travel + Leisure TNL Income Statement

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Total revenue	$4.05B+0.7%	$4.02B+1.4%	$3.97B+1.3%	$3.92B+0.8%	$3.88B+0.5%
Total cost of revenue	$284M+4.4%	$272M+306%	$67M-17.3%	$81M0.0%	$81M-12.0%
Gross profit	$3.76B+0.4%	$3.75B-3.9%	$3.9B+1.7%	$3.84B+0.9%	$3.8B+0.8%
Gross margin	93%-0.3pp	93.2%-5.1pp	98.3%+0.4pp	97.9%0.0pp	97.9%+0.3pp
Selling and marketing	$603M+3.1%	$585M+2.5%	$571M+1.8%	$561M+1.4%	$553M+0.5%
General and administrative	$498M-0.2%	$499M+2.9%	$485M+2.3%	$474M-2.5%	$486M+2.1%
Total costs & expenses	$3.49B+0.7%	$3.47B+8.9%	$3.19B+0.8%	$3.16B+0.5%	$3.14B+0.4%
Operating income	$579M+0.5%	$576M-26.3%	$782M+3.3%	$757M+2.3%	$740M+0.8%
Operating margin	14.3%0.0pp	14.3%-5.4pp	19.7%+0.4pp	19.3%+0.3pp	19.1%+0.1pp
Interest expense	$230M-0.4%	$231M-1.3%	$234M-1.3%	$237M-2.5%	$243M-2.8%
Other income (expense), net	$9M+28.6%	$7M-41.7%	$12M0.0%	$12M-20.0%	$15M-6.3%
Income before income taxes	——	——	$568M+5.2%	$540M+3.6%	$521M+1.8%
Income tax expense	——	——	$158M+9.7%	$144M+5.9%	$136M+1.5%
Net income	——	——	$411M+3.5%	$397M-5.0%	$418M+1.7%
Diluted earnings per share	——	——	$6.07+4.8%	$5.79-3.2%	$5.98+2.6%
EBITDA	$705M+0.7%	$700M-22.5%	$903M+3.0%	$877M+2.3%	$857M+0.9%
EBITDA margin	17.4%0.0pp	17.4%-5.4pp	22.8%+0.4pp	22.4%+0.3pp	22.1%+0.1pp
EBIT	$579M+0.5%	$576M-26.3%	$782M+3.3%	$757M+2.3%	$740M+0.8%

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Questions, answered.

What are Travel + Leisure's profit margins?: Gross margin is 93.0% and operating margin is 14.3%, with a 10.4% net margin.
Where does Travel + Leisure's income statement data come from?: Every line is extracted from Travel + Leisure's SEC filings (10-K and 10-Q) and tagged in XBRL. Switch between quarterly, annual, and trailing-twelve-month views, or open any line for its full history and peer comparisons.