Travel + Leisure Co. (TNL) Financial Ratios
21 years of historical data (2005–2025) · Consumer Cyclical · Travel Services
EV/EBITDA
↓
11.23
+0% vs avg
5yr avg: 11.18
30Y Low3.7·High20.4
P/FCF
↓
9.16
-1% vs avg
5yr avg: 9.23
30Y Low3.0·High13.9
P/B Ratio
N/A
—
5yr avg: N/A
30Y Low0.2·High6.2
ROE
N/A
—
5yr avg: N/A
30Y Low-37%·High428%
Debt/EBITDA
↓
5.84
↓-15% vs avg
5yr avg: 6.84
30Y Low1.7·High11.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
TNL Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Travel + Leisure Co. trades at 22.3x earnings, 82% above its 5-year average of 12.2x, sitting at the 100th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 21.2x, the stock trades at a premium of 5%. On a free-cash-flow basis, the stock trades at 9.2x P/FCF, roughly in line with the 5-year average of 9.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.8B | $4.7B | $3.6B | $2.9B | $3.1B | $4.8B | $3.9B | $4.8B | $3.6B | $5.4B | $3.8B |
| Enterprise Value | $9.4B | $9.4B | $9.1B | $8.4B | $8.3B | $9.9B | $9.2B | $10.2B | $8.6B | $11.7B | $9.2B |
| P/E Ratio → | 22.30 | 20.50 | 9.43 | 7.40 | 8.61 | 15.27 | — | 9.77 | 5.29 | 6.22 | 6.23 |
| P/S Ratio | 1.19 | 1.17 | 0.92 | 0.78 | 0.86 | 1.53 | 1.79 | 1.18 | 0.90 | 1.07 | 0.68 |
| P/B Ratio | — | — | — | — | — | — | — | — | — | 6.16 | 5.33 |
| P/FCF | 9.16 | 9.02 | 9.31 | 10.62 | 7.86 | 9.36 | 12.66 | 13.88 | 10.37 | 6.52 | 4.89 |
| P/OCF | 7.48 | 7.37 | 7.69 | 8.38 | 6.93 | 8.42 | 10.33 | 10.57 | 8.04 | 5.51 | 3.93 |
P/E links to full P/E history page with 30-year chart
TNL EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Travel + Leisure Co.'s enterprise value stands at 11.2x EBITDA, roughly in line with its 5-year average of 11.2x. The Consumer Cyclical sector median is 12.2x, placing the stock at a 8% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.33 | 2.35 | 2.24 | 2.32 | 3.15 | 4.28 | 2.52 | 2.18 | 2.31 | 1.63 |
| EV / EBITDA | 11.23 | 11.15 | 10.70 | 10.08 | 10.71 | 13.29 | 440.07 | 10.91 | 12.97 | 20.38 | 11.66 |
| EV / EBIT | 13.17 | 13.31 | 11.90 | 11.39 | 12.14 | 15.73 | — | 12.09 | 15.15 | 24.77 | 13.56 |
| EV / FCF | — | 17.92 | 23.68 | 30.37 | 21.20 | 19.30 | 30.30 | 29.58 | 25.00 | 14.05 | 11.71 |
TNL Profitability
Margins and return-on-capital ratios measuring operating efficiency
Travel + Leisure Co. earns an operating margin of 17.8%, significantly above the Consumer Cyclical sector average of 2.0%. Operating margins have compressed from 19.2% to 17.8% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROIC of 13.0% represents solid returns on invested capital versus a sector median of 5.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 27.2% | 27.2% | 49.0% | 48.6% | 48.4% | 50.1% | 43.1% | 52.0% | 51.3% | 38.3% | 33.3% |
| Operating Margin | 17.8% | 17.8% | 19.0% | 19.2% | 18.3% | 19.7% | -4.9% | 20.1% | 13.3% | 8.6% | 11.8% |
| Net Profit Margin | 5.7% | 5.7% | 10.6% | 10.6% | 10.0% | 9.8% | -11.7% | 12.5% | 17.1% | 16.8% | 10.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | — | — | 428.0% | 106.7% | 73.1% |
| ROA | 3.4% | 3.4% | 6.1% | 5.9% | 5.4% | 4.3% | -3.4% | 6.9% | 7.7% | 8.4% | 6.3% |
| ROIC | 13.0% | 13.0% | 12.0% | 12.2% | 11.4% | 10.7% | -1.7% | 13.1% | 6.8% | 5.0% | 8.2% |
| ROCE | 12.6% | 12.6% | 13.2% | 12.9% | 11.8% | 10.4% | -1.6% | 13.3% | 8.0% | 5.7% | 8.5% |
TNL Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Travel + Leisure Co. carries a Debt/EBITDA ratio of 5.8x, which is highly leveraged (22% above the sector average of 4.8x). Net debt stands at $4.7B ($4.9B total debt minus $253M cash). Interest coverage of just 1.9x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | — | — | 7.17 | 7.58 |
| Debt / EBITDA | 5.84 | 5.84 | 6.69 | 6.89 | 7.45 | 7.34 | 313.10 | 6.17 | 7.92 | 11.00 | 6.93 |
| Net Debt / Equity | — | — | — | — | — | — | — | — | — | 7.11 | 7.42 |
| Net Debt / EBITDA | 5.54 | 5.54 | 6.49 | 6.55 | 6.74 | 6.85 | 256.14 | 5.79 | 7.59 | 10.92 | 6.79 |
| Debt / FCF | — | 8.90 | 14.37 | 19.75 | 13.34 | 9.94 | 17.64 | 15.70 | 14.64 | 7.53 | 6.81 |
| Interest Coverage | 1.92 | 1.92 | 3.06 | 2.93 | 3.49 | 3.17 | -0.44 | 5.20 | 3.33 | 3.03 | 5.08 |
TNL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.64x means Travel + Leisure Co. can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 0.44x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 4.07x to 1.64x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.64 | 1.64 | 4.09 | 4.07 | 4.18 | 3.90 | 4.81 | 6.95 | 3.17 | 2.88 | 0.86 |
| Quick Ratio | 0.44 | 0.44 | 3.04 | 3.10 | 3.13 | 2.86 | 3.65 | 5.39 | 2.43 | 2.76 | 0.70 |
| Cash Ratio | 0.27 | 0.27 | 0.16 | 0.25 | 0.49 | 0.34 | 1.04 | 0.52 | 0.15 | 0.02 | 0.06 |
| Asset Turnover | — | 0.59 | 0.57 | 0.56 | 0.53 | 0.48 | 0.28 | 0.54 | 0.55 | 0.49 | 0.57 |
| Inventory Turnover | 2.60 | 2.60 | 1.61 | 1.70 | 1.54 | 1.29 | 0.91 | 1.62 | 1.56 | 5.47 | 5.80 |
| Days Sales Outstanding | — | 14.98 | 279.04 | 281.59 | 270.14 | 295.59 | 19.43 | 305.22 | 299.63 | 228.66 | 44.07 |
TNL Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Travel + Leisure Co. returns 9.2% to shareholders annually — split between a 2.9% dividend yield and 6.3% buyback yield. A payout ratio of 64.8% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 4.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.9% | 3.2% | 4.0% | 4.6% | 4.4% | 2.3% | 3.6% | 3.5% | 5.5% | 4.5% | 5.8% |
| Payout Ratio | 64.8% | 64.8% | 34.5% | 34.3% | 37.8% | 35.4% | — | 32.7% | 28.9% | 28.3% | 36.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.5% | 4.9% | 10.6% | 13.5% | 11.6% | 6.5% | — | 10.2% | 18.9% | 16.1% | 16.0% |
| FCF Yield | 10.9% | 11.1% | 10.7% | 9.4% | 12.7% | 10.7% | 7.9% | 7.2% | 9.6% | 15.3% | 20.4% |
| Buyback Yield | 6.3% | 6.4% | 6.6% | 10.5% | 11.5% | 0.5% | 3.3% | 7.1% | 9.3% | 11.0% | 16.2% |
| Total Shareholder Yield | 9.2% | 9.5% | 10.5% | 15.2% | 15.9% | 2.8% | 6.9% | 10.6% | 14.7% | 15.5% | 22.0% |
| Shares Outstanding | — | $67M | $71M | $75M | $84M | $87M | $86M | $92M | $99M | $104M | $111M |
Peer Comparison
Compare TNL with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 TNLYou | $5B | 22.3 | 11.2 | 9.2 | 27.2% | 17.8% | — | 13.0% | 5.8 |
 VAC | $3B | -11.1 | 11.9 | — | 15.1% | 11.0% | -13.9% | 5.7% | 8.2 |
 HGV | $4B | 59.2 | 13.3 | 18.6 | 56.7% | 11.1% | 4.9% | 5.0% | 8.8 |
 MAR | $104B | 41.7 | 27.3 | 40.1 | 21.3% | 15.8% | — | 25.0% | 3.8 |
 HLT | $79B | 57.0 | 32.8 | 39.2 | 41.1% | 22.4% | — | 24.7% | 5.5 |
 H | $19B | -374.2 | 26.3 | 121.4 | 11.2% | 7.8% | -1.4% | 5.8% | 5.4 |
 WH | $6B | 34.1 | 19.9 | 19.7 | 58.9% | 28.4% | 34.5% | 9.4% | 6.5 |
 CHH | $5B | 14.6 | 13.0 | 42.2 | 40.9% | 28.4% | 544.2% | 16.7% | 3.8 |
 BKNG | $133B | 25.9 | 13.5 | 14.6 | 100.0% | 34.5% | — | — | 1.9 |
 EXPE | $28B | 24.6 | 9.7 | 9.1 | 84.1% | 13.4% | 48.4% | 40.2% | 2.3 |
 ABNB | $85B | 35.3 | 31.5 | 18.2 | 83.0% | 20.8% | 30.2% | 50.6% | 0.8 |
| Consumer Cyclical Median | — | 21.2 | 12.2 | 15.6 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 21 years · Updated daily
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TNL — Frequently Asked Questions
Quick answers to the most common questions about buying TNL stock.
What is Travel + Leisure Co.'s P/E ratio?
Travel + Leisure Co.'s current P/E ratio is 22.3x. The historical average is 8.7x. This places it at the 100th percentile of its historical range.
What is Travel + Leisure Co.'s EV/EBITDA?
Travel + Leisure Co.'s current EV/EBITDA is 11.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.6x.
Is TNL stock overvalued?
Based on historical data, Travel + Leisure Co. is trading at a P/E of 22.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Travel + Leisure Co.'s dividend yield?
Travel + Leisure Co.'s current dividend yield is 2.90% with a payout ratio of 64.8%.
What are Travel + Leisure Co.'s profit margins?
Travel + Leisure Co. has 27.2% gross margin and 17.8% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Travel + Leisure Co. have?
Travel + Leisure Co.'s Debt/EBITDA ratio is 5.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.