What does vacation ownership — developed software mean?

Captures the capitalized costs associated with the internal development or acquisition of software applications used to support vacation ownership operations, such as reservation systems or sales platforms. It reflects the company's investment in digital infrastructure and operational efficiency.

Travel + Leisure TNL Vacation Ownership — Developed software

Similar metrics at other companies

LPLACapitalized software

$201.68M+368%

HLTPayments to Acquire Software

$22M+4.8%

PEPCapitalized software licenses

$1.8B+20.0%

BKCapitalized software licenses

$2.71B+1.7%

VRTXSoftware amortization expense

$7.8M+23.8%

HSICCapitalized Software Costs Investment Activities

$14M+16.7%

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:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment.

The official record: Travel + Leisure’s 10-K, filed February 18, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Travel + Leisure's vacation ownership — developed software?: Travel + Leisure (TNL) reported vacation ownership — developed software of $6M in Q4 2025.
What does vacation ownership — developed software mean?: Captures the capitalized costs associated with the internal development or acquisition of software applications used to support vacation ownership operations, such as reservation systems or sales platforms. It reflects the company's investment in digital infrastructure and operational efficiency.