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

Travel + Leisure (TNL) reported travel and membership — net revenues of $157M in Q2 2026.

How has Travel + Leisure's travel and membership — net revenues changed year-over-year?

Travel + Leisure's travel and membership — net revenues decreased by 5.4% year-over-year, from $166M to $157M.

What does travel and membership — net revenues mean?

The total revenue generated by the Travel and Membership segment after deducting applicable taxes and adjustments. It serves as the primary indicator of the segment's market demand and top-line performance. Growth in this metric reflects the successful expansion of membership bases and travel service utilization.

Travel + Leisure (TNL) Travel and Membership — Net revenues

Screener

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Other financials

Income statement

See full

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

See full

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

See full

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

See full

Gross margin92.9%-5.1pp

Operating margin14.2%-5.1pp

Net margin10.4%-0.6pp

FCF margin10.8%-1.8pp

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 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

Line item	Three Months Ended / June 30, 2026	Three Months Ended / June 30, 2025	Six Months Ended / June 30, 2026	Six Months Ended / June 30, 2025
Transaction revenues	109	117	225	246
Subscription revenues	42	43	84	86
Ancillary revenues	6	6	12	13
Total Travel and Membership	157	166	321	345
Corporate and other
Ancillary revenues	—	1	1	1
Eliminations	(1)	(2)	(3)	(4)
Total Corporate and other	(1)	(1)	(2)	(3)

Item 1. Financial Statements (Unaudited).

FAQ

What is Travel + Leisure's travel and membership — net revenues?: Travel + Leisure (TNL) reported travel and membership — net revenues of $157M in Q2 2026.
How has Travel + Leisure's travel and membership — net revenues changed year-over-year?: Travel + Leisure's travel and membership — net revenues decreased by 5.4% year-over-year, from $166M to $157M.
What does travel and membership — net revenues mean?: The total revenue generated by the Travel and Membership segment after deducting applicable taxes and adjustments. It serves as the primary indicator of the segment's market demand and top-line performance. Growth in this metric reflects the successful expansion of membership bases and travel service utilization.