Skip to content

Travel + Leisure TNL Deferred subscription revenue — Net revenues

Other product segments

Vacation ownership interest sales
$427M+11.2%
Property management fees and reimbursable revenues
$223M0.0%
Consumer financing
$113M+0.9%
Transaction revenues
$97M-7.6%
Subscription revenue
$43M-6.5%
Fee-for-Service commissions
$11M-31.3%
Eliminations
-$2M
Ancillary revenues
$1M

Similar metrics at other companies

Globalstar logo
GSATSubscriber and other accounts receivable — Deferred revenue, net
$15.23M-15.0%
Equity Lifestyle Properties logo
ELSMembership Subscription — Deferred membership revenue
-$2.71M-712%
ADT logo
ADTDeferred subscriber acquisition revenue
$51.51M-10.9%
Globalstar logo
GSATSubscriber driven — Deferred revenue, net
$1.2M-11.0%
Equity Lifestyle Properties logo
ELSAnnual membership subscriptions — Deferred membership upgrade revenue
$18.3M+12.0%
Fortinet logo
FTNTService — Deferred revenue recognized in period
$1.09B+12.1%

Other financials

Income statement

See full
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

See full
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

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

Valuation

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

Profitability

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

Returns & leverage

See full
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:RevenueFromContractWithCustomerExcludingAssessedTax.

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

Ask your AI about Travel + Leisure's deferred subscription revenue — net revenues.

Connect your AI assistant and compare segments, right in your chat.

Connect your AI
Harbor at dusk
Claude

Questions, answered.

What is Travel + Leisure's deferred subscription revenue — net revenues?
Travel + Leisure (TNL) reported deferred subscription revenue — net revenues of $42M in Q1 2026.
How has Travel + Leisure's deferred subscription revenue — net revenues changed year-over-year?
Travel + Leisure's deferred subscription revenue — net revenues decreased by 2.3% year-over-year, from $43M to $42M.
What does deferred subscription revenue — net revenues mean?
This represents the amount of deferred subscription revenue that has been recognized as net revenue during the reporting period upon the satisfaction of performance obligations. It reflects the actual conversion of membership liabilities into earned income through the delivery of travel and leisure services. Tracking this helps investors evaluate the company's ability to successfully fulfill its service commitments and generate recurring cash flow.