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Travel + Leisure TNL Deferred subscription revenue — Remaining performance obligations

Other product segments

Subscription revenue
$82M-4.7%

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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$4.74B+22.5%
Enterprise value$8.78B+12.5%
P/E11.6×+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

Reported directly by Travel + Leisure in its filing.

Tagged under the XBRL concept us-gaap:RevenueRemainingPerformanceObligation.

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

Filed
Jul 22, 2026, 11:22 AM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q3 2026
Accession
0001361658-26-000053
7/1/2026 - 6/30/20277/1/2027 - 6/30/20287/1/2028 - 6/30/2029ThereafterTotal
Subscription revenue$$83$$31$$14$$18$$146
VOI trial package revenue122444134
VOI incentive revenue8888
Exchange-related revenue542157
Co-branded credit card programs revenue4442234
Other revenue44
Total$$355$$41$$23$$44$$463

Item 1. Financial Statements (Unaudited).

FAQ

What is Travel + Leisure's deferred subscription revenue — remaining performance obligations?
Travel + Leisure (TNL) reported deferred subscription revenue — remaining performance obligations of $83M in Q2 2026.
How has Travel + Leisure's deferred subscription revenue — remaining performance obligations changed year-over-year?
Travel + Leisure's deferred subscription revenue — remaining performance obligations decreased by 4.6% year-over-year, from $87M to $83M.
What does deferred subscription revenue — remaining performance obligations mean?
This metric quantifies the total transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period. It provides investors with insight into the backlog of services the company is contractually obligated to deliver to its members. A growing balance typically signals strong future demand and long-term revenue predictability for the membership segment.

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