Stocks · Consumer Cyclical · Travel Services
Travel + Leisure Co. TNL
$61.72 -1.91% Close, Oct 5, 2026 · NYSE · Market cap $3.86B
Next earnings report: Oct 27, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Net debt is 7.7× EBITDA, a high level of leverage.
- Diluted EPS over the last four quarters was $3.66, down 36.8% year over year.
- The stock is in a downtrend: below its 200-day average, with the 50-day average below the 200-day.
PromtFinance scores
Each score is a percentile within the Consumer Cyclical sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 6, 2026.
Growth49Neutral
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 48%
- EPS growth (TTM, YoY)Bottom 25%
- FCF growth (TTM, YoY)Top 39%
- Revenue growth, 3-year CAGRTop 40%
- Revenue growth accelerationTop 46%
Quality73Positive
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 41%
- Gross marginTop 30%
- Operating marginTop 18%
- Cash conversion (OCF / net income)Top 12%
- Accruals (lower is better)Top 26%
- Net debt / EBITDA (lower is better)Bottom 13%
- Interest coverBottom 31%
Value54Neutral
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 35%
- Free-cash-flow yieldTop 9%
- EBITDA / enterprise valueBottom 47%
- Sales / enterprise valueBottom 26%
- P/E vs own 5-year history (lower is better)Bottom 25%
Momentum42Weak
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 39%
- 6-month returnBottom 30%
- 1-year return vs S&P 500Top 41%
- Distance from 52-week highTop 41%
- Trend checklist (0–4)Bottom 18%
Revisions47Neutral
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 37%
- Consecutive EPS beatsBottom 13%
- Share of analysts rating BuyTop 10%
- Upside to consensus price targetTop 42%
Stability54Neutral
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 16%
- Maximum drawdown, 3 yearsTop 12%
- Beta vs S&P 500 (lower is better)Bottom 32%
- Net debt / EBITDA (lower is better)Bottom 13%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 4.3% | 4.5% | ↑ |
| EPS growth (YoY) | -35.7% | -36.8% | ↓ |
| Gross margin | 49.3% | 45.2% | ↓ |
| Operating margin | 19.3% | 15.2% | ↓ |
| FCF margin | 12.6% | 16.7% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 4.5% | 4.3% | ↑ | Top 48% |
| EPS growth (TTM, YoY) | -36.8% | -35.7% | ↓ | Bottom 25% |
| Gross margin | 45.2% | 49.3% | ↓ | Top 30% |
| Operating margin | 15.2% | 19.3% | ↓ | Top 18% |
| Net margin | 5.8% | 10.1% | ↓ | — |
| Free-cash-flow margin | 16.7% | 12.6% | ↑ | — |
| Return on invested capital | 7.9% | — | Top 41% | |
| Revenue growth, 3-year CAGR | 4.1% | — | Top 40% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 3.00×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -8.8%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 1.6%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -4.6 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 7.74×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 1.7×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 5.89%
- Net buyback yield (TTM)
- 11.96%
- Shareholder yield
- 17.84%
- Share count change, 1 year
- -4.7%
- Share count change, 3-year CAGR
- -5.7%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 22, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 0
- Beats in the last 8 reports
- 5 of 8
- Average EPS surprise, last 4
- +3.8%
- Average 2-day reaction, last 8
- +2.6%
- Positive 20 days after report
- 4 of 8
Analysts
- Consensus price target
- $84.00
- Target vs current price
- +36.1%
- Analysts with a rating
- 15
- Share rating Buy or Strong Buy
- 80%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 22, 2026 | +0.0% | +3.1% | +7.0% | -1.5% | — |
| Apr 22, 2026 | +10.7% | -13.6% | -15.2% | -17.7% | -3.8% |
| Feb 18, 2026 | +0.0% | +3.5% | +2.9% | -3.3% | -13.3% |
| Oct 22, 2025 | +4.7% | +15.2% | +6.6% | +1.9% | +19.4% |
| Jul 23, 2025 | -0.6% | +6.9% | +8.1% | +4.5% | +4.2% |
| Apr 23, 2025 | +0.9% | +1.0% | +3.7% | +16.5% | +33.8% |
| Feb 19, 2025 | +2.4% | +0.7% | -2.8% | -18.8% | -11.1% |
| Oct 23, 2024 | +5.4% | +4.0% | +7.3% | +15.8% | +17.5% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 22, 2026 | $1.88 | $1.88 | +0.0% | $1.06B |
| Apr 22, 2026 | $1.45 | $1.31 | +10.7% | $961.0M |
| Feb 18, 2026 | $1.83 | $1.83 | +0.0% | $1.03B |
| Oct 22, 2025 | $1.80 | $1.72 | +4.7% | $1.04B |
| Jul 23, 2025 | $1.65 | $1.66 | -0.6% | $1.02B |
| Apr 23, 2025 | $1.11 | $1.10 | +0.9% | $934.0M |
| Feb 19, 2025 | $1.72 | $1.68 | +2.4% | $971.0M |
| Oct 23, 2024 | $1.57 | $1.49 | +5.4% | $993.0M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 16.9× | 10.7× | 76th | Top 35% |
| P/E (forward) | 8.1× | — | — | — |
| EV / EBITDA | 13.2× | — | — | Bottom 47% |
| EV / Sales | 2.27× | — | — | Bottom 26% |
| Free-cash-flow yield | 17.69% | — | — | Top 9% |
| Earnings yield | 5.93% | — | — | Top 35% |
P/E over the past five years
Range 7.1× – 31.8× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +0.3%
- Earnings per share growth (TTM)
- -36.8%
- Change in P/E multiple
- +93.3%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✗ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -5.9%
- 200-day average slope (20 days)
- -0.5%
- Distance from 50-day average
- -11.3%
- Distance from 200-day average
- -13.2%
- RSI (14)
- 32.6
- Relative volume
- 1.09×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 28.5%
- Volatility vs own 5-year history
- 18th percentile · Low for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.23
- Correlation with S&P 500
- 0.59
- Current drawdown from 1-year high
- -21.6%
- Maximum drawdown, 3 years
- -33.0%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| May 14, 2021 | Oct 27, 2023 | -50.8% | 618 days | 497 days (Oct 22, 2025) |
| Apr 14, 2026 | Oct 5, 2026 | -21.6% | 120 days | Not yet recovered |
| Feb 26, 2026 | Mar 30, 2026 | -12.9% | 22 days | 10 days (Apr 14, 2026) |
| Oct 22, 2025 | Nov 17, 2025 | -12.4% | 18 days | 17 days (Dec 11, 2025) |
| Oct 23, 2020 | Oct 28, 2020 | -12.0% | 3 days | 6 days (Nov 5, 2020) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $3.86B
- P/E (TTM)
- 16.9
- EPS, diluted (TTM)
- $3.66
- Revenue (TTM)
- $4.09B
- Dividend yield
- 3.82%
- 52-week range
- $58.07 – $81.00
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $3.13B | $3.57B | $3.75B | $3.86B | $4.02B |
| Gross profit | $1.57B | $1.73B | $1.82B | $1.89B | $1.09B |
| Operating income | $618.0M | $653.0M | $720.0M | $733.0M | $717.0M |
| Net income | $308.0M | $357.0M | $396.0M | $411.0M | $230.0M |
| EPS (diluted) | $3.62 | $4.23 | $5.28 | $5.35 | $3.44 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $993.0M | $971.0M | $934.0M | $1.02B | $1.04B | $1.03B | $961.0M | $1.06B |
| Net income | $97.0M | $119.0M | $73.0M | $108.0M | $111.0M | -$61.0M | $79.0M | $109.0M |
| EPS (diluted) | $1.39 | $1.71 | $1.07 | $1.62 | $1.67 | -$0.95 | $1.22 | $1.72 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $568.0M | $442.0M | $350.0M | $464.0M | $640.0M |
| Capital expenditure | -$57.0M | -$52.0M | -$74.0M | -$81.0M | -$117.0M |
| Free cash flow | $511.0M | $390.0M | $276.0M | $383.0M | $523.0M |
| Dividends paid | -$109.0M | -$135.0M | -$136.0M | -$142.0M | -$149.0M |
| Net share buybacks | -$14.0M | -$341.0M | -$300.0M | -$219.0M | -$281.0M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $282.0M
- Total assets
- $6.90B
- Total liabilities
- $7.92B
- Total debt
- $5.71B
- Net debt
- $5.43B
- Shareholders’ equity
- -$1.02B
As of Jun 30, 2026 (filed Jul 22, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Sep 16, 2026 | $0.60 | Sep 30, 2026 |
| Jun 12, 2026 | $0.60 | Jun 30, 2026 |
| Mar 20, 2026 | $0.60 | Mar 31, 2026 |
| Dec 12, 2025 | $0.56 | Dec 31, 2025 |
| Sep 12, 2025 | $0.56 | Sep 30, 2025 |
| Jun 13, 2025 | $0.56 | Jun 30, 2025 |
| Mar 17, 2025 | $0.56 | Mar 31, 2025 |
| Dec 13, 2024 | $0.50 | Dec 31, 2024 |
Short interest
- Shares sold short
- 7,382,341
- Days to cover
- 10.65
- Change vs previous report
- +1.1%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Jun 1, 2018
- 443-for-200