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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
48.5%+22.0pp
Walt Disney logo
Walt DisneyDIS
8.2%+3.1pp
Hyatt Hotels logo
Hyatt HotelsH
2.9%-13.1pp
Wyndham Hotels & Resorts, Inc. logo
Wyndham Hotels & Resorts, Inc.WH
14.4%-0.2pp
Hilton Worldwide logo
Hilton WorldwideHLT
28.8%-4.8pp
Marriott International logo
Marriott InternationalMAR
23%-0.2pp

Other financials

Income statement

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Revenue$961.0M+2.9%
Gross profit$926.0M+1.6%
Operating income$159.0M+1.9%
Net income$79.0M+8.2%
EPS (diluted)$1.22+14.0%

Balance sheet

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Cash & equivalents$456.0M+24.3%
Total debt$4.7B+11.9%
Total equity-$1.0B-13.2%
Total assets$6.8B+1.1%

Cash flow

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Operating cash flow$38.0M-68.6%
CapEx$19.0M-9.5%
Free cash flow$19.0M-81.0%

Valuation

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Market cap$4.79B+39.8%
Enterprise value$9.04B+23.7%
P/E12.9×+2.3×
P/S1.2×+0.3×

Profitability

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Gross margin93%-4.9pp
Operating margin14.3%-4.8pp
Net margin10.4%-0.6pp
FCF margin10.9%-0.7pp

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 official record: Travel + Leisure’s 10-Q, filed April 22, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Travel + Leisure's return on invested capital?
Travel + Leisure (TNL) reported return on invested capital of 18.8% in Q1 2026.
How has Travel + Leisure's return on invested capital changed year-over-year?
Travel + Leisure's return on invested capital increased by 0.8% year-over-year, from 18.6% to 18.8%.
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.