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TNL Financials Travel & Leisure Co.

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has grown 13.2% per year over the past 5 years.
  • Operating margin has expanded, at 13.8% in the latest year.
  • Free cash flow has grown 11.4% per year over the past 5 years.

Financial health

  • Total debt ($5.6B) exceeds cash ($253M); net debt is $5.3B.
  • Total debt has grown slower than revenue (-2.7% vs 13.2% per year).
  • Total debt is 8.3× EBITDA.

Shareholder returns

  • Dividends have been paid for 15 consecutive years, consuming 64.7% of earnings and 28.5% of free cash flow.
  • The dividend has grown 1.5% per year over the past 5 years.
Revenue & net income
-$255M $2B $4B $0 2011 2013 2015 2017 2019 2021 2023 2025
RevenueNet income
Margins (gross / operating / net)
-12% 44% 100% 0% 2011 2013 2015 2017 2019 2021 2023 2025
GrossOperatingNet
Free cash flow (CFO − capex)
$0 $440M $879M 2011 2013 2015 2017 2019 2021 2023 2025
Free cash flow
Cash vs total debt
-$33M $3B $6B $0 2011 2013 2015 2017 2019 2021 2023 2025
CashTotal debt
Cash flow: operating / investing / financing
-$1B -$140M $1B $0 2011 2013 2015 2017 2019 2021 2023 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MFCFTotal debtCash
2025 $4.0B $230M 93.2% 13.8% $523M $5.6B $253M
2024 $3.9B $411M 97.6% 19.0% $383M $5.6B $167M
2023 $3.8B $396M 96.5% 19.2% $276M $5.6B $282M
2022 $3.6B $356M 95.6% 18.3% $390M $5.6B $550M
2021 $3.1B $308M 95.0% 19.7% $511M $5.3B $369M
2020 $2.2B -$255M 99.9% -4.9% $305M $6.4B $1.2B
2019 $4.0B $507M 95.4% 20.1% $344M $5.6B $355M
2018 $3.9B $672M 95.3% 13.3% $343M — $218M
2017 $3.8B $854M 0.0% 11.5% $879M $3.9B $48M
2016 $3.7B $611M 0.0% 17.8% $846M — $113M
2015 — $612M — — $802M — -$33M
2014 — $529M — — $749M — $183M
2013 — $432M — — $770M — $194M
2012 — $400M — — $796M — $195M
2011 — $417M — — $764M $2.2B $142M

Valuation over time

How the market has priced TNL against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 10.3 20.7 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/E
Price / sales (P/S)
0.0 0.6 1.2 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/S
Dividend yield (%)
0.0 3.2 6.4 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
Dividend yield %

Frequently asked questions

Is TNL growing its revenue and profit?

Over the past 5 years, Travel & Leisure Co.'s revenue has grown 13.2% per year. These are computed facts, not advice.

How much debt does TNL have?

As of FY2025, Travel & Leisure Co. reported $5.6B of total debt against $253M of cash.

What is TNL's profit margin?

In FY2025, gross margin was 93.2%, operating margin 13.8%, and net margin 5.7%.

What is TNL's P/E ratio?

As of Jun '26, Travel & Leisure Co. traded at a price-to-earnings ratio of about 20.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.