What is Travel + Leisure's travel and membership — commissions?

Travel + Leisure (TNL) reported travel and membership — commissions of $0 in Q1 2026.

What does travel and membership — commissions mean?

Payments made to third-party agents or internal sales staff for successfully closing sales or securing new memberships. This metric reflects the variable cost structure associated with the segment's sales distribution channels. It is a key indicator of the cost of sales and sales force productivity.

Travel + Leisure TNL Travel and Membership — Commissions

Other segment segments

Vacation Ownership

$100M+12.4%

Similar metrics at other companies

ELSCommission expense related to memberships sales

$1.71M+75.6%

BDCSales commissions

$5.75M-3.9%

UHALSales Commissions And Fees

$81.58M+1.0%

CCLCommissions, transportation and other

$778M-0.3%

CCLCruise Support — Commissions, transportation and other

-$38M-46.2%

LSTRSales Commissions And Fees

$92.14M-1.3%

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%

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:SalesCommissionsAndFees.

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 travel and membership — commissions?: Travel + Leisure (TNL) reported travel and membership — commissions of $0 in Q1 2026.
What does travel and membership — commissions mean?: Payments made to third-party agents or internal sales staff for successfully closing sales or securing new memberships. This metric reflects the variable cost structure associated with the segment's sales distribution channels. It is a key indicator of the cost of sales and sales force productivity.