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Travel + Leisure TNL Return on invested capital

Return on invested capital at other companies

Expedia Group, Inc. logo
Expedia Group, Inc.EXPE
342.2%+243pp
Hilton Grand Vacations logo
Hilton Grand VacationsHGV
7.1%+3.3pp
Walt Disney logo
Walt DisneyDIS
8.2%+3.1pp
RLJ Lodging Trust logo
RLJ Lodging TrustRLJ
3.3%-0.6pp
Wyndham Hotels & Resorts, Inc. logo
Wyndham Hotels & Resorts, Inc.WH
15%+0.7pp
St. Joe Company logo
St. Joe CompanyJOE
18.9%+7.3pp

Other financials

Income statement

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Revenue$1.1B+4.4%
Gross profit$1.0B+3.7%
Operating income$210.0M+1.9%
Net income$109.0M+0.9%
EPS (diluted)$1.72+6.2%

Balance sheet

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Cash & equivalents$471.0M+21.7%
Total debt$4.5B+4.4%
Total equity-$1.0B-19.6%
Total assets$6.9B+1.3%

Cash flow

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Operating cash flow$220.0M-5.2%
CapEx$25.0M-32.4%
Free cash flow$195.0M0.0%

Valuation

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Market cap$4.77B+22.5%
Enterprise value$8.81B+12.5%
P/E11.7×+2.1×
P/S1.2×+0.2×

Profitability

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Gross margin92.9%-5.1pp
Operating margin14.2%-5.1pp
Net margin10.4%-0.6pp
FCF margin10.8%-1.8pp

Returns & leverage

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Return on equity122.1%
Debt / equity6.6×
Current ratio1.2×

Where this comes from

Calculated from Travel + Leisure’s reported figures.

Based on trailing twelve months.

The source filing: Travel + Leisure’s 10-Q, filed July 22, 2026. Open the filing →

Filed
Jul 22, 2026, 11:22 AM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q3 2026
Accession
0001361658-26-000053

FAQ

What is Travel + Leisure's return on invested capital?
Travel + Leisure (TNL) reported return on invested capital of 19.1% in Q2 2026.
How has Travel + Leisure's return on invested capital changed year-over-year?
Travel + Leisure's return on invested capital increased by 4.3% year-over-year, from 18.3% to 19.1%.
What is the long-term trend for Travel + Leisure's return on invested capital?
Over 5 years (2020 to 2025), Travel + Leisure's return on invested capital has grown at a 36.9% compound annual growth rate (CAGR), from -5.2% to 25.2%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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