Travel + Leisure (TNL) Financials

$48.66 +0.20 (+0.41%)

Closing price 05/29/2025 03:59 PM Eastern

Extended Trading

$48.65 0.00 (-0.01%)

As of 05/29/2025 07:10 PM Eastern

Annual Income Statements for Travel + Leisure

This table shows Travel + Leisure's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	411	396	357	308	-255	507	672	854	611	612
Consolidated Net Income / (Loss)	411	396	357	308	-255	507	672	855	612	612
Net Income / (Loss) Continuing Operations	378	391	356	313	-253	489	266	646	352	552
Total Pre-Tax Income	513	485	486	429	-276	680	396	318	542	837
Total Operating Income	733	720	653	618	-105	812	523	439	658	935
Total Gross Profit	3,636	3,505	3,329	2,973	2,070	3,812	3,525	3,656	3,471	4,639
Total Revenue	3,864	3,750	3,567	3,134	2,160	4,043	3,931	3,806	3,692	4,878
Operating Revenue	3,864	3,750	3,567	3,134	2,160	4,043	3,931	3,806	3,692	4,566
Total Cost of Revenue	228	245	238	161	90	231	406	150	221	239
Operating Cost of Revenue	228	245	238	161	90	231	406	150	221	239
Total Operating Expenses	2,903	2,785	2,676	2,355	2,175	3,068	3,002	3,217	2,813	3,704
Selling, General & Admin Expense	2,219	2,138	2,082	1,793	1,528	2,139	2,155	2,216	2,175	2,781
Marketing Expense	550	507	451	363	329	666	609	546	499	723
Depreciation Expense	115	112	119	124	126	121	138	136	127	187
Other Operating Expenses / (Income)	0.00	2.00	0.00	81	101	106	88	100	0.00	0.00
Impairment Charge	3.00	0.00	10	-5.00	52	27	-4.00	205	0.00	7.00
Restructuring Charge	16	26	14	-1.00	39	9.00	16	14	12	6.00
Total Other Income / (Expense), net	-220	-235	-167	-189	-171	-64	-127	-121	-116	-98
Interest Expense	249	251	195	198	192	162	170	155	144	122
Interest & Investment Income	14	13	6.00	3.00	7.00	7.00	5.00	6.00	7.00	8.00
Other Income / (Expense), net	15	3.00	22	6.00	14	91	38	28	21	16
Income Tax Expense	135	94	130	116	-23	191	130	-328	190	285
Net Income / (Loss) Discontinued Operations	33	5.00	1.00	-5.00	-2.00	18	406	209	260	60
Basic Earnings per Share	$5.87	$5.31	$4.28	$3.56	($2.97)	$5.50	$6.80	$8.29	$5.56	$5.18
Weighted Average Basic Shares Outstanding	66.70M	71.03M	77.56M	85.71M	85.93M	87.30M	94.46M	103M	109.90M	118M
Diluted Earnings per Share	$5.82	$5.28	$4.24	$3.52	($2.97)	$5.48	$6.77	$8.24	$5.52	$5.14
Weighted Average Diluted Shares Outstanding	66.70M	71.03M	77.56M	85.71M	85.93M	87.30M	94.46M	103M	109.90M	118M
Weighted Average Basic & Diluted Shares Outstanding	66.70M	71.03M	77.56M	85.71M	85.93M	87.30M	94.46M	103M	109.90M	118M
Cash Dividends to Common per Share	$2.00	$1.80	$1.60	$1.25	$1.60	$1.80	$1.89	$2.32	$2.00	$1.68

This table shows Travel + Leisure's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	73	119	97	129	66	128	110	94	64	90	116
Consolidated Net Income / (Loss)	73	119	97	129	66	128	110	94	64	90	116
Net Income / (Loss) Continuing Operations	73	118	97	97	66	129	110	89	63	89	116
Total Pre-Tax Income	101	158	130	133	92	127	148	125	85	118	162
Total Operating Income	156	205	189	189	150	192	207	183	138	162	189
Total Gross Profit	911	824	966	964	882	797	943	916	849	788	898
Total Revenue	934	970	993	985	916	936	986	949	879	899	937
Operating Revenue	934	970	993	985	916	936	986	949	879	899	937
Total Cost of Revenue	23	146	27	21	34	139	43	33	30	111	39
Operating Cost of Revenue	23	146	27	21	34	139	43	33	30	111	39
Total Operating Expenses	755	619	777	775	732	607	736	733	709	626	709
Selling, General & Admin Expense	567	554	545	570	550	517	536	541	544	522	534
Marketing Expense	124	133	152	144	121	127	141	127	112	113	125
Depreciation Expense	30	30	29	28	28	28	28	28	28	28	30
Other Operating Expenses / (Income)	34	-101	35	33	33	-79	29	27	25	-54	20
Total Other Income / (Expense), net	-55	-47	-59	-56	-58	-63	-59	-58	-55	-44	-27
Interest Expense	57	59	63	63	64	68	64	61	58	53	48
Interest & Investment Income	1.00	4.00	3.00	3.00	4.00	4.00	3.00	3.00	3.00	2.00	2.00
Other Income / (Expense), net	1.00	8.00	1.00	4.00	2.00	1.00	2.00	0.00	0.00	7.00	19
Income Tax Expense	28	40	33	36	26	-2.00	38	36	22	29	46
Basic Earnings per Share	$1.09	$1.72	$1.40	$1.82	$0.93	$1.74	$1.50	$1.25	$0.82	$1.13	$1.39
Weighted Average Basic Shares Outstanding	66.42M	66.70M	68.41M	69.76M	71.26M	71.03M	72.42M	73.92M	76.30M	77.56M	81.28M
Diluted Earnings per Share	$1.07	$1.70	$1.39	$1.81	$0.92	$1.73	$1.49	$1.25	$0.81	$1.11	$1.38
Weighted Average Diluted Shares Outstanding	66.42M	66.70M	68.41M	69.76M	71.26M	71.03M	72.42M	73.92M	76.30M	77.56M	81.28M
Weighted Average Basic & Diluted Shares Outstanding	66.42M	66.70M	68.41M	69.76M	71.26M	71.03M	72.42M	73.92M	76.30M	77.56M	81.28M
Cash Dividends to Common per Share	$0.56	-	$0.50	$0.50	$0.50	-	$0.45	$0.45	$0.45	-	$0.40

This table details how cash moves in and out of Travel + Leisure's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-129	-230	191	-820	815	98	-3.00	66	31	-12
Net Cash From Operating Activities	464	350	442	568	374	452	442	986	963	991
Net Cash From Continuing Operating Activities	464	350	442	568	374	453	292	500	441	871
Net Income / (Loss) Continuing Operations	378	391	356	313	-253	489	266	646	352	552
Consolidated Net Income / (Loss)	411	396	357	308	-255	507	672	855	612	612
Net Income / (Loss) Discontinued Operations	33	5.00	1.00	-5.00	-2.00	18	406	209	260	60
Depreciation Expense	115	112	119	124	126	121	138	136	127	187
Non-Cash Adjustments To Reconcile Net Income	-36	-78	19	230	533	523	610	706	424	318
Changes in Operating Assets and Liabilities, net	7.00	-75	-52	-99	-32	-680	-722	-988	-462	-186
Net Cash From Investing Activities	-124	-80	-50	-93	-65	-66	-725	-362	-346	-302
Net Cash From Continuing Investing Activities	-125	-80	-45	-93	-60	-44	-99	-151	-140	-264
Purchase of Property, Plant & Equipment	-81	-74	-52	-57	-69	-108	-99	-107	-117	-189
Acquisitions	-44	-6.00	-2.00	-37	0.00	-51	-5.00	-48	-21	-101
Sale of Property, Plant & Equipment	1.00	0.00	8.00	0.00	0.00	6.00	12	6.00	16	21
Other Investing Activities, net	-1.00	0.00	1.00	1.00	9.00	3.00	-8.00	-2.00	-18	4.00
Net Cash From Discontinued Investing Activities	1.00	0.00	-5.00	0.00	-5.00	-22	-626	-211	-206	-38
Net Cash From Financing Activities	-458	-500	-196	-1,288	502	-289	280	-558	-586	-675
Net Cash From Continuing Financing Activities	-458	-500	-196	-1,288	502	-289	-1,786	-536	-574	-667
Repayment of Debt	-3,794	-3,991	-1,869	-3,198	-2,478	-4,985	-7,194	-3,940	-2,533	-2,015
Repurchase of Common Equity	-234	-309	-351	-25	-128	-340	-330	-599	-619	-658
Payment of Dividends	-142	-136	-135	-109	-138	-166	-194	-242	-223	-202
Issuance of Debt	3,715	3,957	2,181	2,072	3,268	5,276	6,480	4,325	2,834	2,170
Issuance of Common Equity	15	9.00	10	11	7.00	11	0.00	0.00	-	-
Other Financing Activities, net	-18	-30	-32	-39	-29	-85	-548	-80	-33	38
Effect of Exchange Rate Changes	-11	0.00	-5.00	-7.00	4.00	1.00	-	-	-	-26

This table details how cash moves in and out of Travel + Leisure's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	38	-20	17	-315	189	66	14	44	-354	383	-73
Net Cash From Operating Activities	121	98	145	174	47	152	88	103	7.00	175	37
Net Cash From Continuing Operating Activities	121	98	145	174	47	152	88	103	7.00	175	37
Net Income / (Loss) Continuing Operations	73	118	97	97	66	129	110	89	63	90	115
Consolidated Net Income / (Loss)	73	119	97	129	66	129	110	93	64	91	115
Depreciation Expense	30	29	30	28	28	29	28	27	28	28	30
Non-Cash Adjustments To Reconcile Net Income	115	-6.00	-24	-11	5.00	-41	-19	-28	10	27	-174
Changes in Operating Assets and Liabilities, net	-97	-43	42	60	-52	35	-31	15	-94	30	66
Net Cash From Investing Activities	-22	-23	-20	-24	-57	-34	-13	-16	-17	-16	-5.00
Net Cash From Continuing Investing Activities	-22	-24	-20	-24	-57	-34	-13	-16	-17	-17	1.00
Purchase of Property, Plant & Equipment	-21	-23	-20	-21	-17	-32	-14	-16	-12	-16	-12
Acquisitions	-1.00	-	-	-4.00	-40	-	-	-	-6.00	-	-2.00
Net Cash From Financing Activities	-63	-84	-113	-464	203	-56	-58	-43	-343	218	-99
Net Cash From Continuing Financing Activities	-63	-84	-113	-464	203	-56	-58	-43	-343	218	-99
Repayment of Debt	-1,075	-945	-1,160	-1,027	-662	-1,333	-820	-893	-945	-649	-466
Repurchase of Common Equity	-70	-72	-68	-69	-25	-40	-67	-101	-101	-111	-113
Payment of Dividends	-41	-34	-35	-35	-38	-32	-33	-34	-37	-32	-33
Issuance of Debt	1,134	961	1,148	669	937	1,346	862	998	751	1,006	520
Issuance of Common Equity	2.00	6.00	2.00	-	-	3.00	-	-	-	4.00	-
Other Financing Activities, net	-13	-	-	-9.00	-9.00	-	-	-19	-11	-	-7.00
Effect of Exchange Rate Changes	2.00	-11	5.00	-1.00	-4.00	4.00	-3.00	-	-1.00	6.00	-6.00

This table presents Travel + Leisure's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	6,735	6,738	6,757	6,588	7,613	7,453	7,158	10,450	9,819	9,591
Total Current Assets	1,763	1,825	2,105	1,943	2,658	1,919	4,600	4,511	1,812	1,743
Cash & Equivalents	167	282	550	369	1,196	355	218	48	113	171
Accounts Receivable	155	179	160	131	115	144	121	195	376	586
Inventories, net	1,227	1,135	1,193	1,216	1,347	1,199	1,224	1,249	310	295
Prepaid Expenses	214	229	202	227	-	221	-	118	131	153
Plant, Property, & Equipment, net	591	655	658	689	666	680	712	822	1,028	1,399
Total Noncurrent Assets	4,381	4,258	3,994	3,956	4,289	4,854	1,846	5,117	6,979	6,449
Noncurrent Note & Lease Receivables	2,619	2,527	2,370	2,309	2,482	3,120	-	-	2,515	2,438
Goodwill	966	962	955	961	964	970	922	911	1,221	1,563
Intangible Assets	209	199	207	219	131	143	109	143	1,018	1,123
Other Noncurrent Operating Assets	587	570	462	467	712	621	612	499	1,390	1,325
Total Liabilities & Shareholders' Equity	6,735	6,738	6,757	6,588	7,613	7,453	7,158	10,450	9,819	9,591
Total Liabilities	7,615	7,655	7,661	7,382	8,581	7,977	7,727	9,676	9,101	8,638
Total Current Liabilities	845	880	941	1,001	991	1,046	1,070	1,079	2,032	1,957
Accounts Payable	67	73	65	62	62	73	66	232	213	394
Accrued Expenses	778	807	876	939	929	973	1,004	847	-	-
Total Noncurrent Liabilities	6,770	6,775	6,720	6,381	7,590	6,931	6,657	8,597	7,069	6,681
Long-Term Debt	5,591	5,646	5,642	5,313	4,184	3,034	5,238	6,006	5,224	4,928
Noncurrent Deferred Revenue	457	442	399	382	447	541	518	-	194	198
Noncurrent Deferred & Payable Income Tax Liabilities	722	687	679	686	725	815	736	613	1,167	1,154
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-880	-917	-904	-794	-968	-524	-569	774	718	953
Total Preferred & Common Equity	-881	-918	-913	-801	-975	-530	-574	769	714	950
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-881	-918	-913	-801	-975	-530	-574	769	714	950
Common Stock	4,330	4,281	4,244	4,194	4,159	4,120	4,079	3,998	3,968	3,925
Retained Earnings	2,334	2,067	1,808	1,587	1,390	1,785	1,442	2,501	1,977	1,592
Treasury Stock	-7,433	-7,196	-6,886	-6,534	-6,508	-6,383	-6,043	-5,719	-5,118	-4,493
Accumulated Other Comprehensive Income / (Loss)	-112	-70	-79	-48	-16	-52	-52	-11	-113	-74
Noncontrolling Interest	1.00	1.00	9.00	7.00	7.00	6.00	5.00	5.00	4.00	3.00

This table presents Travel + Leisure's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	6,764	6,698	6,693	7,023	6,655	6,602	6,477	6,380
Total Current Assets	1,833	1,787	1,800	2,122	1,818	1,769	1,764	1,688
Cash & Equivalents	188	194	166	479	238	214	196	169
Accounts Receivable	171	152	176	187	184	160	157	167
Inventories, net	1,221	1,208	1,206	1,187	1,149	1,148	1,158	1,146
Prepaid Expenses	253	233	252	269	247	247	253	206
Plant, Property, & Equipment, net	587	594	596	614	655	665	670	736
Total Noncurrent Assets	4,344	4,317	4,297	4,287	4,182	4,168	4,043	3,956
Noncurrent Note & Lease Receivables	2,580	2,612	2,562	2,535	2,460	2,426	2,379	2,358
Goodwill	968	971	968	993	959	961	961	950
Intangible Assets	209	215	216	197	201	204	207	211
Other Noncurrent Operating Assets	587	519	551	562	562	577	496	437
Total Liabilities & Shareholders' Equity	6,764	6,698	6,693	7,023	6,655	6,602	6,477	6,380
Total Liabilities	7,667	7,559	7,577	7,948	7,652	7,606	7,452	7,283
Total Current Liabilities	779	834	838	863	889	896	869	918
Accounts Payable	67	55	50	65	71	70	61	66
Accrued Expenses	712	779	788	798	818	826	808	852
Total Noncurrent Liabilities	6,888	6,725	6,739	7,085	6,763	6,710	6,583	6,365
Long-Term Debt	5,658	5,577	5,577	5,924	5,622	5,572	5,454	5,273
Noncurrent Deferred Revenue	486	450	453	452	435	423	417	393
Noncurrent Deferred & Payable Income Tax Liabilities	744	698	709	709	706	715	712	699
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-903	-861	-884	-925	-997	-1,004	-975	-903
Total Preferred & Common Equity	-903	-862	-885	-926	-1,008	-1,014	-984	-911
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-903	-862	-885	-926	-1,008	-1,014	-984	-911
Common Stock	4,334	4,311	4,300	4,283	4,270	4,260	4,249	4,229
Retained Earnings	2,367	2,250	2,189	2,097	1,971	1,895	1,836	1,750
Treasury Stock	-7,504	-7,362	-7,292	-7,221	-7,155	-7,090	-6,988	-6,778
Accumulated Other Comprehensive Income / (Loss)	-100	-61	-82	-85	-94	-79	-81	-112
Noncontrolling Interest	0.00	1.00	1.00	1.00	11	10	9.00	8.00

This table displays calculated financial ratios and metrics derived from Travel + Leisure's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	3.04%	5.13%	13.82%	45.09%	-46.57%	2.85%	3.28%	3.09%	-24.31%	-7.63%
EBITDA Growth	3.35%	5.16%	6.15%	2,037.14%	-96.58%	46.50%	15.92%	-25.19%	-29.17%	-3.64%
EBIT Growth	3.46%	7.11%	8.17%	785.71%	-110.08%	60.96%	20.13%	-31.22%	-28.60%	0.32%
NOPAT Growth	-6.95%	21.35%	6.08%	713.46%	-112.59%	66.21%	-60.61%	108.69%	-30.70%	4.67%
Net Income Growth	3.79%	10.92%	15.91%	220.78%	-150.30%	-24.55%	-21.40%	39.71%	0.00%	15.69%
EPS Growth	10.23%	24.53%	20.45%	218.52%	-154.20%	-19.05%	-17.84%	39.71%	0.00%	22.97%
Operating Cash Flow Growth	32.57%	-20.81%	-22.18%	51.87%	-17.26%	2.26%	-55.17%	2.39%	-2.83%	0.71%
Free Cash Flow Firm Growth	37.84%	-27.00%	126.22%	-2,830.25%	-97.84%	441.00%	-70.00%	85.40%	20.97%	6.34%
Invested Capital Growth	2.18%	6.18%	0.92%	105.45%	-6.26%	-51.17%	-3.79%	-15.77%	-8.67%	-2.68%
Revenue Q/Q Growth	0.89%	1.00%	0.82%	7.73%	-13.46%	0.65%	-15.46%	146.34%	-25.16%	-10.58%
EBITDA Q/Q Growth	2.37%	3.09%	-4.11%	17.43%	-87.41%	19.49%	23.06%	79.46%	-30.22%	-5.56%
EBIT Q/Q Growth	2.75%	3.43%	-4.39%	21.88%	-159.48%	23.02%	31.38%	57.77%	-28.83%	-2.36%
NOPAT Q/Q Growth	-7.05%	14.08%	-3.99%	33.67%	-252.17%	8.04%	-57.76%	248.40%	-29.25%	0.95%
Net Income Q/Q Growth	-2.14%	10.61%	-4.29%	50.24%	-183.33%	12.42%	-31.15%	42.03%	3.73%	11.07%
EPS Q/Q Growth	-0.51%	13.30%	-2.53%	51.72%	-182.86%	10.26%	-32.30%	42.03%	3.73%	8.21%
Operating Cash Flow Q/Q Growth	-10.42%	-6.17%	10.50%	-2.91%	5.06%	11.06%	-34.71%	17.24%	0.31%	9.87%
Free Cash Flow Firm Q/Q Growth	-0.67%	-0.42%	-1.09%	-399.14%	-82.24%	697.21%	-79.70%	2,530.80%	49.17%	13.17%
Invested Capital Q/Q Growth	0.49%	1.37%	-0.31%	0.05%	-53.80%	-53.85%	-1.63%	-26.51%	-7.91%	0.34%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	94.10%	93.47%	93.33%	94.86%	95.83%	94.29%	89.67%	96.06%	94.01%	95.10%
EBITDA Margin	22.33%	22.27%	22.26%	23.87%	1.62%	25.33%	17.78%	15.84%	21.83%	23.33%
Operating Margin	18.97%	19.20%	18.31%	19.72%	-4.86%	20.08%	13.30%	11.53%	17.82%	19.17%
EBIT Margin	19.36%	19.28%	18.92%	19.91%	-4.21%	22.33%	14.27%	12.27%	18.39%	19.50%
Profit (Net Income) Margin	10.64%	10.56%	10.01%	9.83%	-11.81%	12.54%	17.09%	22.46%	16.58%	12.55%
Tax Burden Percent	80.12%	81.65%	73.46%	71.79%	92.39%	74.56%	169.70%	268.87%	112.92%	73.12%
Interest Burden Percent	68.58%	67.08%	72.00%	68.75%	303.30%	75.30%	70.59%	68.09%	79.82%	88.01%
Effective Tax Rate	26.32%	19.38%	26.75%	27.04%	0.00%	28.09%	32.83%	-103.14%	35.06%	34.05%
Return on Invested Capital (ROIC)	12.01%	13.44%	11.47%	14.62%	-3.52%	17.78%	7.81%	17.78%	7.49%	10.20%
ROIC Less NNEP Spread (ROIC-NNEP)	9.62%	9.92%	9.06%	11.01%	-9.93%	15.77%	15.10%	16.92%	11.28%	10.11%
Return on Net Nonoperating Assets (RNNOA)	-57.76%	-56.94%	-53.52%	-49.58%	37.70%	-110.55%	647.80%	96.83%	65.76%	45.18%
Return on Equity (ROE)	-45.74%	-43.49%	-42.05%	-34.96%	34.18%	-92.77%	655.61%	114.61%	73.25%	55.38%
Cash Return on Invested Capital (CROIC)	9.86%	7.45%	10.56%	-54.43%	2.95%	86.54%	11.67%	34.90%	16.55%	12.91%
Operating Return on Assets (OROA)	11.10%	10.72%	10.12%	8.79%	-1.21%	12.36%	6.37%	4.61%	7.00%	9.87%
Return on Assets (ROA)	6.10%	5.87%	5.35%	4.34%	-3.39%	6.94%	7.63%	8.44%	6.31%	6.35%
Return on Common Equity (ROCE)	-45.79%	-43.73%	-42.45%	-35.24%	34.48%	-93.71%	623.63%	113.92%	72.94%	55.26%
Return on Equity Simple (ROE_SIMPLE)	-46.65%	-43.14%	-39.10%	-38.45%	26.15%	-95.66%	-117.07%	111.18%	85.71%	64.42%
Net Operating Profit after Tax (NOPAT)	540	580	478	451	-74	584	351	892	427	617
NOPAT Margin	13.98%	15.48%	13.41%	14.39%	-3.40%	14.44%	8.94%	23.43%	11.57%	12.64%
Net Nonoperating Expense Percent (NNEP)	2.39%	3.53%	2.42%	3.60%	6.41%	2.01%	-7.29%	0.86%	-3.79%	0.09%
Return On Investment Capital (ROIC_SIMPLE)	11.46%	12.27%	10.10%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	5.90%	6.53%	6.67%	5.14%	4.17%	5.71%	10.33%	3.94%	5.99%	4.90%
SG&A Expenses to Revenue	57.43%	57.01%	58.37%	57.21%	70.74%	52.91%	54.82%	58.22%	58.91%	57.01%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	75.13%	74.27%	75.02%	75.14%	100.69%	75.88%	76.37%	84.52%	76.19%	75.93%
Earnings before Interest and Taxes (EBIT)	748	723	675	624	-91	903	561	467	679	951
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	863	835	794	748	35	1,024	699	603	806	1,138
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	11.84	8.73	6.54
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.89	0.72	0.76	1.37	1.57	0.97	0.71	2.39	1.69	1.27
Price to Earnings (P/E)	8.40	6.85	7.58	13.95	0.00	7.73	4.18	10.66	10.20	10.14
Dividend Yield	3.96%	4.81%	4.81%	2.51%	4.05%	4.17%	5.31%	2.58%	3.46%	3.14%
Earnings Yield	11.91%	14.61%	13.20%	7.17%	0.00%	12.94%	23.95%	9.38%	9.81%	9.86%
Enterprise Value to Invested Capital (EV/IC)	1.95	1.82	1.86	2.23	3.16	3.06	1.77	3.29	2.12	1.88
Enterprise Value to Revenue (EV/Rev)	2.30	2.15	2.19	2.95	2.96	1.63	1.99	3.96	3.13	2.30
Enterprise Value to EBITDA (EV/EBITDA)	10.29	9.67	9.83	12.36	182.47	6.45	11.20	24.99	14.35	9.86
Enterprise Value to EBIT (EV/EBIT)	11.87	11.17	11.56	14.82	0.00	7.31	13.96	32.27	17.03	11.80
Enterprise Value to NOPAT (EV/NOPAT)	16.43	13.91	16.32	20.51	0.00	11.31	22.29	16.90	27.06	18.20
Enterprise Value to Operating Cash Flow (EV/OCF)	19.13	23.07	17.66	16.28	17.08	14.61	17.72	15.28	12.01	11.32
Enterprise Value to Free Cash Flow (EV/FCFF)	20.03	25.12	17.73	0.00	103.84	2.32	14.91	8.61	12.24	14.37
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-6.35	-6.16	-6.24	-6.69	-4.32	-5.79	-9.21	7.76	7.58	5.44
Long-Term Debt to Equity	-6.35	-6.16	-6.24	-6.69	-4.32	-5.79	-9.21	7.76	7.28	5.17
Financial Leverage	-6.00	-5.74	-5.91	-4.50	-3.80	-7.01	42.90	5.72	5.83	4.47
Leverage Ratio	-7.50	-7.41	-7.86	-8.06	-10.10	-13.37	85.89	13.59	11.62	8.72
Compound Leverage Factor	-5.14	-4.97	-5.66	-5.54	-30.63	-10.07	60.63	9.25	9.27	7.67
Debt to Total Capital	118.68%	119.39%	119.08%	117.57%	130.10%	120.88%	112.19%	88.58%	88.34%	84.46%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.52%	4.12%
Long-Term Debt to Total Capital	118.68%	119.39%	119.08%	117.57%	130.10%	120.88%	112.19%	88.58%	84.82%	80.34%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.02%	0.02%	0.19%	0.15%	0.22%	0.24%	0.11%	0.07%	0.06%	0.05%
Common Equity to Total Capital	-18.70%	-19.41%	-19.27%	-17.73%	-30.32%	-21.12%	-12.29%	11.34%	11.59%	15.49%
Debt to EBITDA	6.48	6.76	7.11	7.10	119.54	2.96	7.49	9.96	6.75	4.55
Net Debt to EBITDA	6.29	6.42	6.41	6.61	85.37	2.62	7.18	9.88	6.61	4.40
Long-Term Debt to EBITDA	6.48	6.76	7.11	7.10	119.54	2.96	7.49	9.96	6.48	4.33
Debt to NOPAT	10.35	9.73	11.80	11.78	-56.93	5.20	14.91	6.73	12.73	8.40
Net Debt to NOPAT	10.04	9.24	10.65	10.96	-40.65	4.59	14.29	6.68	12.47	8.12
Long-Term Debt to NOPAT	10.35	9.73	11.80	11.78	-56.93	5.20	14.91	6.73	12.22	7.99
Altman Z-Score	1.86	1.72	1.65	1.65	1.00	1.71	1.90	1.81	1.27	1.47
Noncontrolling Interest Sharing Ratio	-0.11%	-0.55%	-0.94%	-0.79%	-0.87%	-1.01%	4.88%	0.60%	0.42%	0.23%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.09	2.07	2.24	1.94	2.68	1.83	4.30	4.18	0.89	0.89
Quick Ratio	0.38	0.52	0.75	0.50	1.32	0.48	3.16	2.91	0.37	0.53
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	443	321	440	-1,679	62	2,842	525	1,751	944	781
Operating Cash Flow to CapEx	580.00%	472.97%	1,004.55%	996.49%	542.03%	443.14%	508.05%	976.24%	953.47%	589.88%
Free Cash Flow to Firm to Interest Expense	1.78	1.28	2.26	-8.48	0.32	17.54	3.09	11.30	6.56	6.40
Operating Cash Flow to Interest Expense	1.86	1.39	2.27	2.87	1.95	2.79	2.60	6.36	6.69	8.12
Operating Cash Flow Less CapEx to Interest Expense	1.54	1.10	2.04	2.58	1.59	2.16	2.09	5.71	5.99	6.75
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.57	0.56	0.53	0.44	0.29	0.55	0.45	0.38	0.38	0.51
Accounts Receivable Turnover	23.14	22.12	24.52	25.48	16.68	30.51	24.88	13.33	7.68	8.85
Inventory Turnover	0.19	0.21	0.20	0.13	0.07	0.19	0.33	0.19	0.73	0.80
Fixed Asset Turnover	6.20	5.71	5.30	4.63	3.21	5.81	5.13	4.11	3.04	3.37
Accounts Payable Turnover	3.26	3.55	3.75	2.60	1.33	3.32	2.72	0.67	0.73	0.61
Days Sales Outstanding (DSO)	15.78	16.50	14.89	14.33	21.88	11.96	14.67	27.38	47.55	41.23
Days Inventory Outstanding (DIO)	1,890.64	1,734.12	1,847.24	2,905.26	5,162.72	1,914.27	1,111.63	1,896.78	499.60	455.87
Days Payable Outstanding (DPO)	112.06	102.80	97.38	140.56	273.75	109.82	133.95	541.42	501.26	594.84
Cash Conversion Cycle (CCC)	1,794.35	1,647.82	1,764.74	2,779.03	4,910.86	1,816.42	992.35	1,382.75	45.90	-97.75
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,544	4,447	4,188	4,150	2,020	2,155	4,413	4,587	5,446	5,963
Invested Capital Turnover	0.86	0.87	0.86	1.02	1.03	1.23	0.87	0.76	0.65	0.81
Increase / (Decrease) in Invested Capital	97	259	38	2,130	-135	-2,258	-174	-859	-517	-164
Enterprise Value (EV)	8,876	8,076	7,806	9,247	6,386	6,604	7,831	15,068	11,562	11,221
Market Capitalization	3,451	2,711	2,705	4,296	3,391	3,919	2,806	9,105	6,230	6,208
Book Value per Share	($12.88)	($12.68)	($11.23)	($9.28)	($11.36)	($5.84)	($5.89)	$7.59	$6.62	$8.18
Tangible Book Value per Share	($30.06)	($28.71)	($25.53)	($22.94)	($24.11)	($18.11)	($16.47)	($2.81)	($14.15)	($14.95)
Total Capital	4,711	4,729	4,738	4,519	3,216	2,510	4,669	6,780	6,159	6,134
Total Debt	5,591	5,646	5,642	5,313	4,184	3,034	5,238	6,006	5,441	5,181
Total Long-Term Debt	5,591	5,646	5,642	5,313	4,184	3,034	5,238	6,006	5,224	4,928
Net Debt	5,424	5,364	5,092	4,944	2,988	2,679	5,020	5,958	5,328	5,010
Capital Expenditures (CapEx)	80	74	44	57	69	102	87	101	101	168
Debt-free, Cash-free Net Working Capital (DFCFNWC)	751	663	614	573	471	518	3,312	3,384	-116	-132
Debt-free Net Working Capital (DFNWC)	918	945	1,164	942	1,667	873	3,530	3,432	-3.00	39
Net Working Capital (NWC)	918	945	1,164	942	1,667	873	3,530	3,432	-220	-214
Net Nonoperating Expense (NNE)	129	184	121	143	182	77	-321	37	-185	4.63
Net Nonoperating Obligations (NNO)	5,424	5,364	5,092	4,944	2,988	2,679	4,982	3,813	4,728	5,010
Total Depreciation and Amortization (D&A)	115	112	119	124	126	121	138	136	127	187
Debt-free, Cash-free Net Working Capital to Revenue	19.44%	17.68%	17.21%	18.28%	21.81%	12.81%	84.25%	88.91%	-3.14%	-2.71%
Debt-free Net Working Capital to Revenue	23.76%	25.20%	32.63%	30.06%	77.18%	21.59%	89.80%	90.17%	-0.08%	0.80%
Net Working Capital to Revenue	23.76%	25.20%	32.63%	30.06%	77.18%	21.59%	89.80%	90.17%	-5.96%	-4.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.87	$5.31	$4.28	$3.56	($2.97)	$5.50	$6.80	$3.82	$2.51	$2.34
Adjusted Weighted Average Basic Shares Outstanding	66.70M	71.03M	77.56M	85.71M	85.93M	87.30M	94.46M	220.89M	232.53M	249.21M
Adjusted Diluted Earnings per Share	$5.82	$5.28	$4.24	$3.52	($2.97)	$5.48	$6.77	$3.79	$2.50	$2.32
Adjusted Weighted Average Diluted Shares Outstanding	66.70M	71.03M	77.56M	85.71M	85.93M	87.30M	94.46M	220.89M	232.53M	249.21M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$6.80	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	66.70M	71.03M	77.56M	85.71M	85.93M	87.30M	94.46M	220.89M	232.53M	249.21M
Normalized Net Operating Profit after Tax (NOPAT)	554	601	496	447	-9.80	610	359	461	435	625
Normalized NOPAT Margin	14.34%	16.04%	13.90%	14.25%	-0.45%	15.08%	9.14%	12.10%	11.79%	12.82%
Pre Tax Income Margin	13.28%	12.93%	13.62%	13.69%	-12.78%	16.82%	10.07%	8.36%	14.68%	17.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.00	2.88	3.46	3.15	-0.47	5.57	3.30	3.01	4.72	7.80
NOPAT to Interest Expense	2.17	2.31	2.45	2.28	-0.38	3.60	2.07	5.75	2.97	5.05
EBIT Less CapEx to Interest Expense	2.68	2.59	3.24	2.86	-0.83	4.94	2.79	2.36	4.01	6.42
NOPAT Less CapEx to Interest Expense	1.85	2.02	2.23	1.99	-0.74	2.97	1.55	5.10	2.27	3.68
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	34.55%	34.34%	37.82%	35.39%	-54.12%	32.74%	28.87%	28.30%	36.44%	33.01%
Augmented Payout Ratio	91.48%	112.37%	136.13%	43.51%	-104.31%	99.80%	77.98%	98.36%	137.58%	140.52%

This table displays calculated financial ratios and metrics derived from Travel + Leisure's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.97%	3.63%	0.71%	3.79%	4.21%	4.12%	5.23%	2.93%	8.65%	3.33%	11.68%
EBITDA Growth	3.89%	9.01%	-7.17%	5.24%	8.43%	12.69%	-0.42%	0.48%	10.67%	-14.72%	10.19%
EBIT Growth	3.29%	10.36%	-9.09%	5.46%	10.14%	14.20%	0.48%	2.81%	15.00%	-15.50%	11.83%
NOPAT Growth	4.78%	-21.50%	-8.34%	5.79%	5.21%	59.61%	13.68%	-7.03%	26.85%	-13.90%	0.86%
Net Income Growth	10.61%	-7.03%	-11.82%	37.23%	3.13%	42.22%	-5.17%	-6.00%	25.49%	-15.09%	14.85%
EPS Growth	16.30%	-1.73%	-6.71%	44.80%	13.58%	55.86%	7.97%	7.76%	37.29%	-9.02%	20.00%
Operating Cash Flow Growth	157.45%	-35.53%	64.77%	68.93%	571.43%	-13.14%	137.84%	15.73%	-95.04%	31.58%	-74.48%
Free Cash Flow Firm Growth	150.82%	187.69%	118.74%	60.81%	93.51%	-175.99%	-139.05%	-154.98%	-192.10%	104.23%	-77.01%
Invested Capital Growth	1.04%	2.18%	3.08%	3.97%	5.53%	6.18%	4.43%	5.32%	95.84%	0.92%	1.28%
Revenue Q/Q Growth	-3.71%	-2.32%	0.81%	7.53%	-2.14%	-5.07%	3.90%	7.96%	-2.22%	-4.06%	1.63%
EBITDA Q/Q Growth	-22.73%	10.00%	-0.45%	22.78%	-18.92%	-6.33%	12.86%	26.51%	-15.74%	-17.23%	13.88%
EBIT Q/Q Growth	-26.29%	12.11%	-1.55%	26.97%	-21.24%	-7.66%	14.21%	32.61%	-18.34%	-18.75%	16.85%
NOPAT Q/Q Growth	-26.35%	8.56%	2.31%	28.10%	-44.82%	26.76%	18.08%	27.39%	-16.29%	-9.71%	-3.44%
Net Income Q/Q Growth	-38.66%	22.68%	-24.81%	95.45%	-48.44%	16.36%	17.02%	46.88%	-28.89%	-22.41%	16.00%
EPS Q/Q Growth	-37.06%	22.30%	-23.20%	96.74%	-46.82%	16.11%	19.20%	54.32%	-27.03%	-19.57%	18.97%
Operating Cash Flow Q/Q Growth	23.47%	-32.41%	-16.67%	270.21%	-69.08%	72.73%	-14.56%	1,371.43%	-96.00%	372.97%	-58.43%
Free Cash Flow Firm Q/Q Growth	17.20%	831.44%	117.13%	72.83%	-102.25%	-99.00%	64.16%	95.50%	-2,468.22%	2.25%	-49.54%
Invested Capital Q/Q Growth	0.51%	0.49%	-0.11%	0.15%	1.64%	1.37%	0.76%	1.66%	2.27%	-0.31%	1.62%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	97.54%	84.95%	97.28%	97.87%	96.29%	85.15%	95.64%	96.52%	96.59%	87.65%	95.84%
EBITDA Margin	20.02%	24.95%	22.16%	22.44%	19.65%	23.72%	24.04%	22.13%	18.89%	21.91%	25.40%
Operating Margin	16.70%	21.13%	19.03%	19.19%	16.38%	20.51%	20.99%	19.28%	15.70%	18.02%	20.17%
EBIT Margin	16.81%	21.96%	19.13%	19.59%	16.59%	20.62%	21.20%	19.28%	15.70%	18.80%	22.20%
Profit (Net Income) Margin	7.82%	12.27%	9.77%	13.10%	7.21%	13.68%	11.16%	9.91%	7.28%	10.01%	12.38%
Tax Burden Percent	72.28%	75.32%	74.62%	96.99%	71.74%	100.79%	74.32%	75.20%	75.29%	76.27%	71.60%
Interest Burden Percent	64.33%	74.18%	68.42%	68.91%	60.53%	65.80%	70.81%	68.31%	61.59%	69.82%	77.88%
Effective Tax Rate	27.72%	25.32%	25.38%	27.07%	28.26%	-1.57%	25.68%	28.80%	25.88%	24.58%	28.40%
Return on Invested Capital (ROIC)	10.31%	13.57%	12.21%	12.05%	10.11%	18.10%	13.49%	11.85%	13.08%	11.63%	12.24%
ROIC Less NNEP Spread (ROIC-NNEP)	9.59%	12.93%	11.39%	11.88%	9.33%	16.82%	12.66%	11.15%	12.15%	10.99%	11.86%
Return on Net Nonoperating Assets (RNNOA)	-57.24%	-77.65%	-66.02%	-67.78%	-52.56%	-96.55%	-69.86%	-62.31%	-56.19%	-64.94%	-68.37%
Return on Equity (ROE)	-46.92%	-64.08%	-53.81%	-55.74%	-42.45%	-78.45%	-56.37%	-50.46%	-43.10%	-53.31%	-56.13%
Cash Return on Invested Capital (CROIC)	10.96%	9.86%	10.01%	9.47%	7.93%	7.45%	7.52%	6.35%	-49.36%	10.56%	10.66%
Operating Return on Assets (OROA)	9.47%	12.60%	10.98%	11.27%	9.31%	11.46%	12.08%	10.80%	8.73%	10.05%	12.10%
Return on Assets (ROA)	4.40%	7.04%	5.60%	7.53%	4.04%	7.60%	6.36%	5.55%	4.05%	5.35%	6.75%
Return on Common Equity (ROCE)	-46.95%	-64.15%	-54.16%	-56.06%	-42.67%	-78.88%	-56.93%	-50.95%	-43.52%	-53.81%	-56.64%
Return on Equity Simple (ROE_SIMPLE)	-46.29%	0.00%	-48.72%	-48.93%	-42.98%	0.00%	-35.52%	-35.90%	-37.60%	0.00%	-40.94%
Net Operating Profit after Tax (NOPAT)	113	153	141	138	108	195	154	130	102	122	135
NOPAT Margin	12.07%	15.78%	14.20%	13.99%	11.75%	20.84%	15.60%	13.73%	11.64%	13.59%	14.44%
Net Nonoperating Expense Percent (NNEP)	0.73%	0.63%	0.82%	0.16%	0.78%	1.28%	0.84%	0.70%	0.93%	0.64%	0.38%
Return On Investment Capital (ROIC_SIMPLE)	2.37%	3.25%	-	-	-	4.12%	-	-	-	2.58%	-
Cost of Revenue to Revenue	2.46%	15.05%	2.72%	2.13%	3.71%	14.85%	4.36%	3.48%	3.41%	12.35%	4.16%
SG&A Expenses to Revenue	60.71%	57.11%	54.88%	57.87%	60.04%	55.24%	54.36%	57.01%	61.89%	58.06%	56.99%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	80.84%	63.81%	78.25%	78.68%	79.91%	64.85%	74.65%	77.24%	80.66%	69.63%	75.67%
Earnings before Interest and Taxes (EBIT)	157	213	190	193	152	193	209	183	138	169	208
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	187	242	220	221	180	222	237	210	166	197	238
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.80	0.89	0.84	0.84	0.93	0.72	0.70	0.80	0.79	0.76	0.75
Price to Earnings (P/E)	7.39	8.40	7.65	7.40	8.81	6.85	7.25	8.08	7.77	7.58	7.09
Dividend Yield	4.45%	3.96%	4.23%	4.22%	3.82%	4.81%	4.99%	4.41%	4.45%	4.81%	4.92%
Earnings Yield	13.54%	11.91%	13.07%	13.51%	11.35%	14.61%	13.80%	12.38%	12.87%	13.20%	14.11%
Enterprise Value to Invested Capital (EV/IC)	1.87	1.95	1.90	1.90	1.98	1.82	1.82	1.91	1.90	1.86	1.85
Enterprise Value to Revenue (EV/Rev)	2.20	2.30	2.25	2.25	2.36	2.15	2.15	2.27	2.24	2.19	2.19
Enterprise Value to EBITDA (EV/EBITDA)	9.84	10.29	10.20	10.02	10.54	9.67	9.86	10.25	10.05	9.83	9.37
Enterprise Value to EBIT (EV/EBIT)	11.36	11.87	11.81	11.54	12.15	11.17	11.43	11.90	11.75	11.56	10.98
Enterprise Value to NOPAT (EV/NOPAT)	15.70	16.43	14.80	14.52	15.27	13.91	15.70	16.97	16.31	16.32	15.57
Enterprise Value to Operating Cash Flow (EV/OCF)	15.91	19.13	16.60	18.69	22.95	23.07	21.42	25.80	26.43	17.66	19.39
Enterprise Value to Free Cash Flow (EV/FCFF)	17.18	20.03	19.28	20.50	25.64	25.12	24.75	30.82	0.00	17.73	17.42
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-6.27	-6.35	-6.48	-6.31	-6.40	-6.16	-5.64	-5.55	-5.59	-6.24	-5.84
Long-Term Debt to Equity	-6.27	-6.35	-6.48	-6.31	-6.40	-6.16	-5.64	-5.55	-5.59	-6.24	-5.84
Financial Leverage	-5.97	-6.00	-5.79	-5.70	-5.63	-5.74	-5.52	-5.59	-4.62	-5.91	-5.77
Leverage Ratio	-7.54	-7.50	-7.19	-7.04	-7.11	-7.41	-6.86	-7.07	-7.32	-7.86	-7.41
Compound Leverage Factor	-4.85	-5.56	-4.92	-4.85	-4.30	-4.88	-4.86	-4.83	-4.51	-5.49	-5.77
Debt to Total Capital	118.99%	118.68%	118.26%	118.84%	118.50%	119.39%	121.56%	121.98%	121.77%	119.08%	120.66%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	118.99%	118.68%	118.26%	118.84%	118.50%	119.39%	121.56%	121.98%	121.77%	119.08%	120.66%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.02%	0.02%	0.02%	0.02%	0.02%	0.24%	0.22%	0.20%	0.19%	0.18%
Common Equity to Total Capital	-18.99%	-18.70%	-18.28%	-18.86%	-18.52%	-19.41%	-21.79%	-22.20%	-21.97%	-19.27%	-20.85%
Debt to EBITDA	6.50	6.48	6.62	6.48	6.98	6.76	6.94	6.87	6.73	7.11	6.37
Net Debt to EBITDA	6.29	6.29	6.39	6.29	6.41	6.42	6.65	6.61	6.49	6.41	6.16
Long-Term Debt to EBITDA	6.50	6.48	6.62	6.48	6.98	6.76	6.94	6.87	6.73	7.11	6.37
Debt to NOPAT	10.38	10.35	9.60	9.40	10.11	9.73	11.05	11.38	10.93	11.80	10.58
Net Debt to NOPAT	10.04	10.04	9.26	9.12	9.29	9.24	10.58	10.94	10.54	10.65	10.25
Long-Term Debt to NOPAT	10.38	10.35	9.60	9.40	10.11	9.73	11.05	11.38	10.93	11.80	10.58
Altman Z-Score	1.57	1.60	1.56	1.55	1.51	1.46	1.45	1.44	1.43	1.40	1.41
Noncontrolling Interest Sharing Ratio	-0.05%	-0.11%	-0.65%	-0.58%	-0.53%	-0.55%	-1.00%	-0.97%	-0.95%	-0.94%	-0.91%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.35	2.09	2.14	2.15	2.46	2.07	2.05	1.97	2.03	2.24	1.84
Quick Ratio	0.46	0.38	0.41	0.41	0.77	0.52	0.47	0.42	0.41	0.75	0.37
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	66	56	6.02	-35	-129	-64	-32	-90	-1,994	84	82
Operating Cash Flow to CapEx	576.19%	426.09%	725.00%	828.57%	276.47%	475.00%	628.57%	643.75%	58.33%	1,093.75%	308.33%
Free Cash Flow to Firm to Interest Expense	1.15	0.95	0.10	-0.56	-2.02	-0.94	-0.50	-1.47	-34.37	1.59	1.72
Operating Cash Flow to Interest Expense	2.12	1.66	2.30	2.76	0.73	2.24	1.38	1.69	0.12	3.30	0.77
Operating Cash Flow Less CapEx to Interest Expense	1.75	1.27	1.98	2.43	0.47	1.76	1.16	1.43	-0.09	3.00	0.52
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.56	0.57	0.57	0.58	0.56	0.56	0.57	0.56	0.56	0.53	0.55
Accounts Receivable Turnover	21.69	23.14	22.80	22.76	22.02	22.12	21.16	24.26	24.01	24.52	24.23
Inventory Turnover	0.18	0.19	0.19	0.20	0.21	0.21	0.12	0.11	0.13	0.20	0.15
Fixed Asset Turnover	6.46	6.20	6.13	6.06	5.90	5.71	5.34	5.25	5.15	5.30	5.00
Accounts Payable Turnover	3.29	3.26	3.51	3.95	3.95	3.55	2.01	1.91	2.30	3.75	2.86
Days Sales Outstanding (DSO)	16.83	15.78	16.01	16.04	16.58	16.50	17.25	15.04	15.20	14.89	15.06
Days Inventory Outstanding (DIO)	2,025.16	1,890.64	1,946.39	1,812.68	1,718.72	1,734.12	3,035.05	3,186.94	2,839.30	1,847.24	2,449.56
Days Payable Outstanding (DPO)	111.01	112.06	104.05	92.41	92.35	102.80	181.18	190.67	158.91	97.38	127.75
Cash Conversion Cycle (CCC)	1,930.98	1,794.35	1,858.35	1,736.31	1,642.95	1,647.82	2,871.13	3,011.31	2,695.60	1,764.74	2,336.87
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,567	4,544	4,522	4,527	4,520	4,447	4,387	4,354	4,283	4,188	4,201
Invested Capital Turnover	0.85	0.86	0.86	0.86	0.86	0.87	0.86	0.86	1.12	0.86	0.85
Increase / (Decrease) in Invested Capital	47	97	135	173	237	259	186	220	2,096	38	53
Enterprise Value (EV)	8,557	8,876	8,599	8,617	8,952	8,076	7,989	8,309	8,141	7,806	7,755
Market Capitalization	3,087	3,451	3,215	3,205	3,506	2,711	2,594	2,941	2,874	2,705	2,643
Book Value per Share	($13.54)	($12.88)	($12.36)	($12.42)	($12.99)	($12.68)	($13.64)	($13.29)	($12.69)	($11.23)	($10.87)
Tangible Book Value per Share	($31.19)	($30.06)	($29.36)	($29.03)	($29.69)	($28.71)	($29.33)	($28.56)	($27.75)	($25.53)	($24.72)
Total Capital	4,755	4,711	4,716	4,693	4,999	4,729	4,625	4,568	4,479	4,738	4,370
Total Debt	5,658	5,591	5,577	5,577	5,924	5,646	5,622	5,572	5,454	5,642	5,273
Total Long-Term Debt	5,658	5,591	5,577	5,577	5,924	5,646	5,622	5,572	5,454	5,642	5,273
Net Debt	5,470	5,424	5,383	5,411	5,445	5,364	5,384	5,358	5,258	5,092	5,104
Capital Expenditures (CapEx)	21	23	20	21	17	32	14	16	12	16	12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	866	751	759	796	780	663	691	659	699	614	601
Debt-free Net Working Capital (DFNWC)	1,054	918	953	962	1,259	945	929	873	895	1,164	770
Net Working Capital (NWC)	1,054	918	953	962	1,259	945	929	873	895	1,164	770
Net Nonoperating Expense (NNE)	40	34	44	8.84	42	67	44	36	38	32	19
Net Nonoperating Obligations (NNO)	5,470	5,424	5,383	5,411	5,445	5,364	5,384	5,358	5,258	5,092	5,104
Total Depreciation and Amortization (D&A)	30	29	30	28	28	29	28	27	28	28	30
Debt-free, Cash-free Net Working Capital to Revenue	22.31%	19.44%	19.82%	20.82%	20.60%	17.68%	18.61%	17.99%	19.22%	17.21%	16.99%
Debt-free Net Working Capital to Revenue	27.15%	23.76%	24.88%	25.16%	33.25%	25.20%	25.02%	23.83%	24.61%	32.63%	21.76%
Net Working Capital to Revenue	27.15%	23.76%	24.88%	25.16%	33.25%	25.20%	25.02%	23.83%	24.61%	32.63%	21.76%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.09	$1.72	$1.40	$1.82	$0.93	$1.74	$1.50	$1.25	$0.82	$1.13	$1.39
Adjusted Weighted Average Basic Shares Outstanding	66.42M	66.70M	68.41M	69.76M	71.26M	71.03M	72.42M	73.92M	76.30M	77.56M	81.28M
Adjusted Diluted Earnings per Share	$1.07	$1.70	$1.39	$1.81	$0.92	$1.73	$1.49	$1.25	$0.81	$1.11	$1.38
Adjusted Weighted Average Diluted Shares Outstanding	66.42M	66.70M	68.41M	69.76M	71.26M	71.03M	72.42M	73.92M	76.30M	77.56M	81.28M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	66.42M	66.70M	68.41M	69.76M	71.26M	71.03M	72.42M	73.92M	76.30M	77.56M	81.28M
Normalized Net Operating Profit after Tax (NOPAT)	113	153	153	138	108	134	155	137	102	135	135
Normalized NOPAT Margin	12.07%	15.78%	15.40%	13.99%	11.75%	14.36%	15.75%	14.48%	11.64%	15.02%	14.44%
Pre Tax Income Margin	10.81%	16.29%	13.09%	13.50%	10.04%	13.57%	15.01%	13.17%	9.67%	13.13%	17.29%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.75	3.61	3.02	3.06	2.38	2.84	3.27	3.00	2.38	3.19	4.33
NOPAT to Interest Expense	1.98	2.59	2.24	2.19	1.68	2.87	2.40	2.14	1.76	2.31	2.82
EBIT Less CapEx to Interest Expense	2.39	3.22	2.70	2.73	2.11	2.37	3.05	2.74	2.17	2.89	4.08
NOPAT Less CapEx to Interest Expense	1.61	2.21	1.92	1.85	1.42	2.40	2.19	1.87	1.56	2.00	2.57
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	34.69%	34.55%	33.33%	31.87%	34.42%	34.34%	37.99%	37.36%	37.03%	37.82%	35.66%
Augmented Payout Ratio	101.44%	91.48%	81.43%	78.29%	92.96%	112.37%	144.13%	154.40%	147.03%	136.13%	106.70%

Frequently Asked Questions About Travel + Leisure's Financials

When does Travel + Leisure's fiscal year end?

According to the most recent income statement we have on file, Travel + Leisure's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Travel + Leisure's net income changed over the last 9 years?

Travel + Leisure's net income appears to be on a downward trend, with a most recent value of $411 million in 2024, falling from $612 million in 2015. The previous period was $396 million in 2023. Find out what analysts predict for Travel + Leisure in the coming months.

What is Travel + Leisure's operating income?

Travel + Leisure's total operating income in 2024 was $733 million, based on the following breakdown:

Total Gross Profit: $3.64 billion
Total Operating Expenses: $2.90 billion

How has Travel + Leisure revenue changed over the last 9 years?

Over the last 9 years, Travel + Leisure's total revenue changed from $4.88 billion in 2015 to $3.86 billion in 2024, a change of -20.8%.

How much debt does Travel + Leisure have?

Travel + Leisure's total liabilities were at $7.62 billion at the end of 2024, a 0.5% decrease from 2023, and a 11.8% decrease since 2015.

How much cash does Travel + Leisure have?

In the past 9 years, Travel + Leisure's cash and equivalents has ranged from $48 million in 2017 to $1.20 billion in 2020, and is currently $167 million as of their latest financial filing in 2024.

How has Travel + Leisure's book value per share changed over the last 9 years?

Over the last 9 years, Travel + Leisure's book value per share changed from 8.18 in 2015 to -12.88 in 2024, a change of -257.4%.

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This page (NYSE:TNL) was last updated on 5/30/2025 by MarketBeat.com Staff

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Travel + Leisure (TNL) Financials

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Travel + Leisure (TNL) Financials

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