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Travel + Leisure TNL Consumer financing — Net revenues

Other product segments

Vacation ownership interest sales
$427M+11.2%
Property management fees and reimbursable revenues
$223M0.0%
Transaction revenues
$97M-7.6%
Subscription revenue
$43M-6.5%
Deferred subscription revenue
$42M-2.3%
Fee-for-Service commissions
$11M-31.3%
Eliminations
-$2M
Ancillary revenues
$1M

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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

Reported directly by Travel + Leisure in its filing.

Tagged under the XBRL concept us-gaap:Revenues.

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 consumer financing — net revenues?
Travel + Leisure (TNL) reported consumer financing — net revenues of $113M in Q1 2026.
How has Travel + Leisure's consumer financing — net revenues changed year-over-year?
Travel + Leisure's consumer financing — net revenues increased by 0.9% year-over-year, from $112M to $113M.
What is the long-term trend for Travel + Leisure's consumer financing — net revenues?
Over 4 years (2021 to 2025), Travel + Leisure's consumer financing — net revenues has grown at a 3.0% compound annual growth rate (CAGR), from $403M to $454M.
What does consumer financing — net revenues mean?
This metric represents the total revenue generated from interest income and fees associated with providing financing to customers for the purchase of vacation ownership interests. It reflects the company's ability to monetize its credit portfolio and manage the long-term financial relationship with its members. This revenue stream is a critical component of the company's integrated business model, linking product sales directly to recurring financial services income.