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Travel + Leisure TNL Vacation Ownership — Marketing

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$9M-18.2%

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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%
Enterprise value$9.04B+23.7%
P/E12.9×+2.3×
P/S1.2×+0.3×

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:MarketingExpense.

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 vacation ownership — marketing?
Travel + Leisure (TNL) reported vacation ownership — marketing of $108M in Q1 2026.
How has Travel + Leisure's vacation ownership — marketing changed year-over-year?
Travel + Leisure's vacation ownership — marketing increased by 16.1% year-over-year, from $93M to $108M.
What is the long-term trend for Travel + Leisure's vacation ownership — marketing?
Over 3 years (2022 to 2025), Travel + Leisure's vacation ownership — marketing has grown at a 13.0% compound annual growth rate (CAGR), from $305M to $440M.
What does vacation ownership — marketing mean?
Expenditures related to advertising, promotional activities, and lead generation efforts aimed at acquiring new vacation ownership customers. It is a key driver of sales volume and reflects the cost of customer acquisition.