Travel & Leisure Co. (TNL) Financial Statements
Industry: Hotels & Motels
In fiscal 2025, Travel & Leisure reported revenue of $4.02B, up 4.1% from $3.86B the year before. Net income was $230.0M (a 5.7% net margin), or $3.44 per diluted share. Gross margin was 93.2% and operating margin was 13.8%. Operating activities generated $640.0M of cash, leaving $523.0M of free cash flow. At fiscal year end, Travel & Leisure held $6.76B in total assets against $7.74B in total liabilities, including $253.0M of cash and equivalents.
Open the full interactive Travel & Leisure financials → Quarterly statements, key ratios, valuation history and price charts.
Travel & Leisure Key Stats
| Share Price | $62.99 |
|---|---|
| Market Cap | $3.99B |
| P/E Ratio | 18.3 |
| Revenue YoY Growth | +4.1% |
| 52-Week Range | $57.45 – $77.73 |
| Shares Outstanding | 62.3 million (basic, 2026 Q2) |
Travel & Leisure Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $2.16B | $3.13B | $3.57B | $3.75B | $3.86B | $4.02B |
| Cost of Goods Sold | $2.0M | $157.0M | $157.0M | $133.0M | $92.0M | $273.0M |
| Gross Profit | $2.16B | $2.98B | $3.41B | $3.62B | $3.77B | $3.75B |
| Operating Income | -$105.0M | $618.0M | $653.0M | $720.0M | $733.0M | $553.0M |
| Pre-Tax Income | -$276.0M | $429.0M | $486.0M | $485.0M | $513.0M | $337.0M |
| Income Tax | -$23.0M | $116.0M | $130.0M | $94.0M | $135.0M | $107.0M |
| Net Income | -$255.0M | $308.0M | $357.0M | $396.0M | $411.0M | $230.0M |
| Diluted EPS | -$2.97 | $3.52 | $4.24 | $5.28 | $5.82 | $3.44 |
Travel & Leisure Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $1.04B | $1.02B | $961.0M | $1.06B |
| Net Income | $111.0M | -$62.0M | $79.0M | $109.0M |
| Diluted EPS | $1.67 | -$0.93 | $1.22 | $1.72 |
Travel & Leisure Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.20B | $369.0M | $550.0M | $282.0M | $167.0M | $253.0M |
| Total Assets | $7.61B | $6.59B | $6.76B | $6.74B | $6.74B | $6.76B |
| Total Long-Term Debt | $6.42B | $5.31B | $5.64B | $5.65B | $5.59B | $5.60B |
| Total Liabilities | $8.58B | $7.38B | $7.66B | $7.66B | $7.62B | $7.74B |
| Shareholders' Equity | -$975.0M | -$801.0M | -$913.0M | -$918.0M | -$881.0M | -$981.0M |
Travel & Leisure Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $374.0M | $568.0M | $442.0M | $350.0M | $464.0M | $640.0M |
| Cash From Investing | -$65.0M | -$93.0M | -$50.0M | -$80.0M | -$124.0M | -$107.0M |
| Cash From Financing | $502.0M | -$1.29B | -$196.0M | -$500.0M | -$458.0M | -$443.0M |
| Free Cash Flow | $305.0M | $511.0M | $390.0M | $276.0M | $383.0M | $523.0M |
Figures from Travel & Leisure's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Travel & Leisure financials page for every line item.
Travel & Leisure Company Profile
| Ticker | TNL |
|---|---|
| Exchange | NYSE |
| Industry | Hotels & Motels |
| Headquarters | Orlando, Florida |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001361658 |
Frequently Asked Questions
What was Travel & Leisure's revenue in fiscal 2025?
Travel & Leisure (TNL) reported revenue of $4.02B for fiscal 2025.
What is Travel & Leisure's annual revenue history?
Travel & Leisure's annual revenue by fiscal year: 2020: $2.16B; 2021: $3.13B; 2022: $3.57B; 2023: $3.75B; 2024: $3.86B; 2025: $4.02B.
What was Travel & Leisure's net income in fiscal 2025?
Travel & Leisure reported net income of $230.0M for fiscal 2025.
What was Travel & Leisure's earnings per share (EPS) in fiscal 2025?
Travel & Leisure's diluted EPS was $3.44 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Travel & Leisure generate in fiscal 2025?
Travel & Leisure generated $523.0M of free cash flow in fiscal 2025.
What was Travel & Leisure's revenue last quarter?
In its most recent reported quarter (2026 Q2), Travel & Leisure reported revenue of $1.06B.
How much debt does Travel & Leisure have?
Travel & Leisure reported $5.60B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Travel & Leisure are outstanding?
Travel & Leisure reported a weighted average of 62.3 million basic shares outstanding in 2026 Q2.
What is Travel & Leisure's market cap?
Based on its latest closing price, Travel & Leisure (TNL) has a market capitalization of about $3.99B.
When does Travel & Leisure's fiscal year end?
Travel & Leisure's fiscal year end, as registered with the SEC, is December 31.
Where is Travel & Leisure headquartered?
Travel & Leisure lists its business address in Orlando, Florida in its SEC filings.