Travel + Leisure TNL Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 93%-4.9pp | 93.2%-4.4pp | 98.3%+1.1pp | 97.9%+1.2pp | 97.9%+1.5pp | |
| Operating margin | 14.3%-4.8pp | 14.3%-4.7pp | 19.7%+0.9pp | 19.3%+0.1pp | 19.1%-0.2pp | |
| Returns | ||||||
| Return on invested capital | 18.8%+0.1pp | 25.2%+1.9pp | 17.8%-1.7pp | 18.3%-1.6pp | 18.6%-2.7pp | |
| Efficiency | ||||||
| Asset turnover | 0.6×0.0× | 0.6×0.0× | 0.6×0.0× | 0.6×0.0× | 0.6×0.0× | |
| Leverage | ||||||
| Net debt / EBITDA | 6×+1.6× | 4.6×+0.8× | 4.6×+0.1× | 4.5×-0.1× | 4.5×-0.1× | |
| Per Share | ||||||
| Book value per share | -$15.87-19.9% | —— | -$12.42-1.2% | -$12.81-2.8% | -$13.24-2.9% | |
| Valuation | ||||||
| Market capitalization | $4.32B+39.8% | $4.54B+31.6% | $3.87B+18.5% | $3.34B+4.0% | $3.09B-11.8% | |
| Price / sales | 1.1×+0.3× | 1.1×+0.2× | 1×+0.1× | 0.9×0.0× | 0.8×-0.1× | |
| EV / EBITDA | 12.2×+4.1× | 11.1×+3.2× | 8.9×+0.4× | 8.3×0.0× | 8.1×-0.6× | |
| Dividend yield | 3.5%-1.2pp | 3.3%-0.8pp | 3.8%-0.5pp | 4.4%+0.1pp | 4.7%+0.8pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are Travel + Leisure's profit margins?
- Travel + Leisure (TNL) runs a 93.0% gross margin and a 14.3% operating margin, with a 10.4% net margin.
- Where do Travel + Leisure's ratios come from?
- Every ratio is computed from Travel + Leisure's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
