Travel + Leisure Co - Understand $tnl stock

$TNL Market Cap: $2.977 Billion

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$3.822B

TTM

Gross Margin

72.16%

TTM

Net Earnings

$434.0M

TTM

Current Assets

$4.528B

Q2 2024

Current Liabilities

$1.207B

Q2 2024

Current Ratio

375.14%

Q2 2024

Total Assets

$6.693B

Q2 2024

Total Liabilities

$7.577B

Q2 2024

Book Value

-$884.0M

Q2 2024

Cash

$166.0M

Q2 2024

P/E

6.859

Sep 18, 2024 EST

Free Cash Flow

$333.0M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Revenue	$3.750B	$3.567B	$3.134B	$2.160B	$4.043B	$3.931B	$5.076B	$4.926B	$4.878B	$5.281B	$5.009B	$4.534B	$4.254B	$3.851B	$3.750B	$4.281B	$4.360B	$3.842B	$3.471B	$3.014B	$2.652B
YoY Change	5.13%	13.82%	45.09%	-46.57%	2.85%	-22.56%	3.05%	0.98%	-7.63%	5.43%	10.48%	6.58%	10.46%	2.69%	-12.4%	-1.81%	13.48%	10.69%	15.16%	13.65%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Revenue	$3.750B	$3.567B	$3.134B	$2.160B	$4.043B	$3.931B	$5.076B	$4.926B	$4.878B	$5.281B	$5.009B	$4.534B	$4.254B	$3.851B	$3.750B	$4.281B	$4.360B	$3.842B	$3.471B	$3.014B	$2.652B
Cost Of Revenue	$133.0M	$157.0M	$157.0M	$2.000M	$186.0M	$183.0M	$150.0M	$1.828B	$2.335B	$2.504B	$2.394B	$2.093B	$2.025B	$1.876B	$1.823B	$2.031B	$2.118B	$1.791B	$1.540B	$1.248B	$1.123B
Gross Profit	$3.617B	$3.410B	$2.977B	$2.158B	$3.857B	$3.748B	$4.926B	$1.864B	$2.543B	$2.777B	$2.615B	$2.441B	$2.229B	$1.975B	$1.927B	$2.250B	$2.242B	$2.051B	$1.931B	$1.766B	$1.529B
Gross Profit Margin	96.45%	95.6%	94.99%	99.91%	95.4%	95.34%	97.04%	37.84%	52.13%	52.58%	52.21%	53.84%	52.4%	51.29%	51.39%	52.56%	51.42%	53.38%	55.63%	58.59%	57.65%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Selling, General & Admin	$961.0M	$930.0M	$797.0M	$727.0M	$1.157B	$1.122B	$1.126B	$1.067B	$1.408B	$1.557B	$1.471B	$1.384B	$1.209B	$1.071B	$1.093B	$1.391B	$1.350B	$1.227B	$1.180B	$1.047B	$927.0M
YoY Change	3.33%	16.69%	9.63%	-37.17%	3.12%	-0.36%	5.53%	-24.22%	-9.57%	5.85%	6.29%	14.47%	12.89%	-2.01%	-21.42%	3.04%	10.02%	3.98%	12.7%	12.94%
% of Gross Profit	26.57%	27.27%	26.77%	33.69%	30.0%	29.94%	22.86%	57.24%	55.37%	56.07%	56.25%	56.7%	54.24%	54.23%	56.72%	61.82%	60.21%	59.82%	61.11%	59.29%	60.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$112.0M	$119.0M	$124.0M	$126.0M	$121.0M	$138.0M	$136.0M	$172.0M	$157.0M	$196.0M	$180.0M	$154.0M	$146.0M	$145.0M	$178.0M	$184.0M	$166.0M	$148.0M	$131.0M	$119.0M	$107.0M
YoY Change	-5.88%	-4.03%	-1.59%	4.13%	-12.32%	1.47%	-20.93%	9.55%	-19.9%	8.89%	16.88%	5.48%	0.69%	-18.54%	-3.26%	10.84%	12.16%	12.98%	10.08%	11.21%
% of Gross Profit	3.1%	3.49%	4.17%	5.84%	3.14%	3.68%	2.76%	9.23%	6.17%	7.06%	6.88%	6.31%	6.55%	7.34%	9.24%	8.18%	7.4%	7.22%	6.78%	6.74%	7.0%
Operating Expenses	$1.073B	$1.049B	$921.0M	$853.0M	$1.278B	$1.260B	$1.262B	$1.194B	$1.595B	$1.790B	$1.687B	$1.569B	$1.387B	$1.244B	$1.271B	$1.575B	$1.516B	$1.375B	$1.311B	$1.166B	$1.034B
YoY Change	2.29%	13.9%	7.97%	-33.26%	1.43%	-0.16%	5.7%	-25.14%	-10.89%	6.11%	7.52%	13.12%	11.5%	-2.12%	-19.3%	3.89%	10.25%	4.88%	12.44%	12.77%
Operating Profit	$720.0M	$653.0M	$618.0M	-$105.0M	$812.0M	$523.0M	$439.0M	$658.0M	$935.0M	$941.0M	$910.0M	$852.0M	$767.0M	$718.0M	$656.0M	$675.0M	$726.0M	$676.0M	$620.0M	$600.0M	$495.0M
YoY Change	10.26%	5.66%	-688.57%	-112.93%	55.26%	19.13%	-33.28%	-29.63%	-0.64%	3.41%	6.81%	11.08%	6.82%	9.45%	-2.81%	-7.02%	7.4%	9.03%	3.33%	21.21%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Interest Expense	$251.0M	$195.0M	$198.0M	$192.0M	$162.0M	$170.0M	$155.0M	$133.0M	$122.0M	$113.0M	$131.0M	$132.0M	$140.0M	$137.0M	-$107.0M	-$68.00M	-$62.00M	-$35.00M	$6.000M	-$13.00M	$5.000M
YoY Change	28.72%	-1.52%	3.13%	18.52%	-4.71%	9.68%	16.54%	9.02%	7.96%	-13.74%	-0.76%	-5.71%	2.19%	-228.04%	57.35%	9.68%	77.14%	-683.33%	-146.15%	-360.0%
% of Operating Profit	34.86%	29.86%	32.04%		19.95%	32.5%	35.31%	20.21%	13.05%	12.01%	14.4%	15.49%	18.25%	19.08%	-16.31%	-10.07%	-8.54%	-5.18%	0.97%	-2.17%	1.01%
Other Income/Expense, Net	$3.000M	$22.00M	$6.000M	$14.00M	$23.00M	$42.00M	$28.00M	$21.00M	$16.00M	$7.000M	$6.000M	$8.000M	$7.000M	$7.000M	$6.000M	$11.00M	$7.000M	$0.00	$0.00
YoY Change	-86.36%	266.67%	-57.14%	-39.13%	-45.24%	50.0%	33.33%	31.25%	128.57%	16.67%	-25.0%	14.29%	0.0%	16.67%	-45.45%	57.14%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Pretax Income	$485.0M	$486.0M	$429.0M	-$276.0M	$680.0M	$396.0M	$318.0M	$462.0M	$747.0M	$681.0M	$509.0M	$481.0M	$425.0M	$443.0M	$493.0M	-$887.0M	$655.0M	$542.0M	$626.0M	$587.0M	$500.0M
YoY Change	-0.21%	13.29%	-255.43%	-140.59%	71.72%	24.53%	-31.17%	-38.15%	9.69%	33.79%	5.82%	13.18%	-4.06%	-10.14%	-155.58%	-235.42%	20.85%	-13.42%	6.64%	17.4%
Income Tax	$94.00M	$130.0M	$116.0M	-$23.00M	$191.0M	$130.0M	-$328.0M	$190.0M	$285.0M	$316.0M	$250.0M	$229.0M	$233.0M	$184.0M	$200.0M	$187.0M	$252.0M	$190.0M	$195.0M	$234.0M	$186.0M
% Of Pretax Income	19.38%	26.75%	27.04%		28.09%	32.83%	-103.14%	41.13%	38.15%	46.4%	49.12%	47.61%	54.82%	41.53%	40.57%		38.47%	35.06%	31.15%	39.86%	37.2%
Net Earnings	$396.0M	$357.0M	$308.0M	-$255.0M	$507.0M	$672.0M	$854.0M	$611.0M	$612.0M	$529.0M	$432.0M	$400.0M	$417.0M	$379.0M	$293.0M	-$1.074B	$403.0M	$287.0M	$431.0M	$349.0M	$299.0M
YoY Change	10.92%	15.91%	-220.78%	-150.3%	-24.55%	-21.31%	39.77%	-0.16%	15.69%	22.45%	8.0%	-4.08%	10.03%	29.35%	-127.28%	-366.5%	40.42%	-33.41%	23.5%	16.72%
Net Earnings / Revenue	10.56%	10.01%	9.83%	-11.81%	12.54%	17.09%	16.82%	12.4%	12.55%	10.02%	8.62%	8.82%	9.8%	9.84%	7.81%	-25.09%	9.24%	7.47%	12.42%	11.58%	11.27%
Basic Earnings Per Share	$5.31	$4.28	$3.56	-$2.97	$5.50	$6.80	$8.29	$5.56	$5.18	$4.22	$3.25	$2.80	$2.57	$2.13
Diluted Earnings Per Share	$5.28	$4.24	$3.52	-$2.97	$5.48	$6.77	$8.24	$5.52	$5.14	$4.18	$3.21	$2.75	$2.51	$2.05	$1.610M	-$6.034M	$2.202M	$1.442M	$2.155M	$1.745M	$1.471M

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Cash & Short-Term Investments	$282.0M	$550.0M	$369.0M	$1.196B	$355.0M	$243.0M	$48.00M	$127.0M	$171.0M	$183.0M	$194.0M	$195.0M	$142.0M	$156.0M	$155.0M	$136.0M	$210.0M	$269.0M	$99.00M	$94.00M
YoY Change	-48.73%	49.05%	-69.15%	236.9%	46.09%	406.25%	-62.2%	-25.73%	-6.56%	-5.67%	-0.51%	37.32%	-8.97%	0.65%	13.97%	-35.24%	-21.93%	171.72%	5.32%
Cash & Equivalents	$282.0M	$550.0M	$369.0M	$1.196B	$355.0M	$218.0M	$48.00M	$113.0M	$171.0M	$183.0M	$194.0M	$195.0M	$142.0M	$156.0M	$155.0M	$136.0M	$210.0M	$269.0M	$99.00M	$94.00M
Short-Term Investments						$25.00M		$14.00M
Other Short-Term Assets	$405.0M	$340.0M	$355.0M	$325.0M	$368.0M	$518.0M	$118.0M	$699.0M	$419.0M	$485.0M	$475.0M	$532.0M	$462.0M	$477.0M	$481.0M	$548.0M	$436.0M	$444.0M	$241.0M	$392.0M
YoY Change	19.12%	-4.23%	9.23%	-11.68%	-28.96%	338.98%	-83.12%	66.83%	-13.61%	2.11%	-10.71%	15.15%	-3.14%	-0.83%	-12.23%	25.69%	-1.8%	84.23%	-38.52%
Inventory	$1.135B	$1.193B	$1.216B	$1.347B	$1.199B	$1.224B	$1.249B	$310.0M	$295.0M	$302.0M	$346.0M	$379.0M	$351.0M	$348.0M	$354.0M	$414.0M	$586.0M	$520.0M	$446.0M	$365.0M
Prepaid Expenses
Receivables	$179.0M	$160.0M	$131.0M	$115.0M	$144.0M	$121.0M	$195.0M	$376.0M	$586.0M	$516.0M	$505.0M	$442.0M	$409.0M	$425.0M	$404.0M	$460.0M	$459.0M	$494.0M	$1.496B	$1.005B
Other Receivables	$2.527B	$2.370B	$2.309B	$2.482B	$3.120B	$3.106B	$2.901B	$300.0M	$272.0M	$381.0M	$420.0M	$318.0M	$366.0M	$346.0M	$346.0M	$356.0M	$365.0M	$325.0M	$286.0M	$215.0M
Total Short-Term Assets	$4.528B	$4.613B	$4.380B	$5.465B	$5.186B	$5.212B	$4.511B	$1.812B	$1.743B	$1.867B	$1.940B	$1.866B	$1.730B	$1.752B	$1.740B	$1.914B	$2.056B	$2.052B	$2.568B	$2.071B
YoY Change	-1.84%	5.32%	-19.85%	5.38%	-0.5%	15.54%	148.95%	3.96%	-6.64%	-3.76%	3.97%	7.86%	-1.26%	0.69%	-9.09%	-6.91%	0.19%	-20.09%	24.0%
Property, Plant & Equipment	$701.0M	$720.0M	$768.0M	$758.0M	$816.0M	$712.0M	$822.0M	$1.028B	$1.399B	$1.500B	$1.555B	$1.292B	$1.117B	$1.041B	$953.0M	$1.038B	$1.009B	$916.0M	$718.0M	$735.0M
YoY Change	-2.64%	-6.25%	1.32%	-7.11%	14.61%	-13.38%	-20.04%	-26.52%	-6.73%	-3.54%	20.36%	15.67%	7.3%	9.23%	-8.19%	2.87%	10.15%	27.58%	-2.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$33.00M	$21.00M	$21.00M	$26.00M	$35.00M
YoY Change	57.14%	0.0%	-19.23%	-25.71%
Other Assets	$179.0M	$173.0M	$177.0M	$172.0M	$187.0M	$203.0M	$4.063B	$2.225B	$1.325B	$1.241B	$1.056B	$979.0M	$1.015B	$1.284B	$1.430B	$1.228B	$981.0M	$655.0M	$409.0M	$393.0M
YoY Change	3.47%	-2.26%	2.91%	-8.02%	-7.88%	-95.0%	82.61%	67.92%	6.77%	17.52%	7.87%	-3.55%	-20.95%	-10.21%	16.45%	25.18%	49.77%	60.15%	4.07%
Total Long-Term Assets	$2.210B	$2.144B	$2.208B	$2.148B	$2.267B	$1.946B	$5.939B	$8.007B	$7.848B	$7.812B	$7.801B	$7.597B	$7.293B	$7.664B	$7.612B	$7.659B	$8.403B	$7.468B	$6.599B	$6.272B
YoY Change	3.08%	-2.9%	2.79%	-5.25%	16.5%	-67.23%	-25.83%	2.03%	0.46%	0.14%	2.69%	4.17%	-4.84%	0.68%	-0.61%	-8.85%	12.52%	13.17%	5.21%
Total Assets	$6.738B	$6.757B	$6.588B	$7.613B	$7.453B	$7.158B	$10.45B	$9.819B	$9.591B	$9.679B	$9.741B	$9.463B	$9.023B	$9.416B	$9.352B	$9.573B	$10.46B	$9.520B	$9.167B	$8.343B
YoY Change
Accounts Payable	$73.00M	$65.00M	$62.00M	$62.00M	$73.00M	$66.00M	$232.0M	$213.0M	$394.0M	$385.0M	$360.0M	$329.0M	$288.0M	$321.0M	$505.0M	$396.0M	$490.0M	$564.0M	$239.0M	$271.0M
YoY Change	12.31%	4.84%	0.0%	-15.07%	10.61%	-71.55%	8.92%	-45.94%	2.34%	6.94%	9.42%	14.24%	-10.28%	-36.44%	27.53%	-19.18%	-13.12%	135.98%	-11.81%
Accrued Expenses	$698.0M	$752.0M	$803.0M	$772.0M	$793.0M	$995.0M	$847.0M	$717.0M	$827.0M	$749.0M	$746.0M	$675.0M	$631.0M	$619.0M	$579.0M	$638.0M	$666.0M	$575.0M	$430.0M	$369.0M
YoY Change	-7.18%	-6.35%	4.02%	-2.65%	-20.3%	17.47%	18.13%	-13.3%	10.41%	0.4%	10.52%	6.97%	1.94%	6.91%	-9.25%	-4.2%	15.83%	33.72%	16.53%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due								$217.0M	$253.0M	$261.0M	$233.0M	$544.0M	$242.0M	$234.0M	$384.0M	$463.0M	$412.0M	$293.0M	$355.0M	$290.0M
YoY Change								-14.23%	-3.07%	12.02%	-57.17%	124.79%	3.42%	-39.06%	-17.06%	12.38%	40.61%	-17.46%	22.41%
Total Short-Term Liabilities	$1.223B	$1.229B	$1.247B	$1.281B	$1.407B	$1.588B	$1.638B	$2.032B	$1.957B	$1.859B	$1.790B	$1.931B	$1.563B	$1.575B	$1.885B	$2.169B	$2.180B	$1.977B	$1.295B	$1.179B
YoY Change	-0.49%	-1.44%	-2.65%	-8.96%	-11.4%	-3.05%	-19.39%	3.83%	5.27%	3.85%	-7.3%	23.54%	-0.76%	-16.45%	-13.09%	-0.5%	10.27%	52.66%	9.84%
Long-Term Debt	$5.646B	$5.642B	$5.313B	$6.418B	$5.575B	$5.238B	$6.006B	$5.224B	$4.928B	$4.792B	$4.608B	$4.018B	$3.773B	$3.510B	$3.138B	$3.331B	$3.195B	$2.607B	$1.687B	$1.478B
YoY Change	0.07%	6.19%	-17.22%	15.12%	6.43%	-12.79%	14.97%	6.01%	2.84%	3.99%	14.68%	6.49%	7.49%	11.85%	-5.79%	4.26%	22.55%	54.53%	14.14%
Other Long-Term Liabilities	$99.00M	$111.0M	$136.0M	$157.0M	$180.0M	$165.0M	$1.419B	$678.0M	$599.0M	$569.0M	$545.0M	$442.0M	$390.0M	$393.0M	$504.0M	$765.0M	$641.0M	$595.0M	$329.0M	$319.0M
YoY Change	-10.81%	-18.38%	-13.38%	-12.78%	9.09%	-88.37%	109.29%	13.19%	5.27%	4.4%	23.3%	13.33%	-0.76%	-22.02%	-34.12%	19.34%	7.73%	80.85%	3.13%
Total Long-Term Liabilities	$5.745B	$5.753B	$5.449B	$6.575B	$5.755B	$5.403B	$7.425B	$5.902B	$5.527B	$5.361B	$5.153B	$4.460B	$4.163B	$3.903B	$3.642B	$4.096B	$3.836B	$3.202B	$2.016B	$1.797B
YoY Change	-0.14%	5.58%	-17.13%	14.25%	6.51%	-27.23%	25.8%	6.78%	3.1%	4.04%	15.54%	7.13%	6.66%	7.17%	-11.08%	6.78%	19.8%	58.83%	12.19%
Total Liabilities	$7.656B	$7.670B	$7.389B	$8.588B	$7.983B	$7.732B	$9.681B	$9.105B	$8.641B	$8.424B	$8.118B	$7.533B	$6.791B	$6.499B	$6.664B	$7.231B	$6.943B	$5.961B	$4.134B	$3.664B
YoY Change	-0.18%	3.8%	-13.96%	7.58%	3.25%	-20.13%	6.33%	5.37%	2.58%	3.77%	7.77%	10.93%	4.49%	-2.48%	-7.84%	4.15%	16.47%	44.19%	12.83%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Basic Shares Outstanding	74.50M shares	83.40M shares	86.50M shares	86.10M shares	92.10M shares	98.90M shares	103.0M shares	109.9M shares	118.0M shares	125.0M shares	133.0M shares	143.0M shares	162.0M shares	178.0M shares
Diluted Shares Outstanding	75.00M shares	84.20M shares	87.30M shares	86.10M shares	92.40M shares	99.20M shares	103.7M shares	110.6M shares	119.0M shares	127.0M shares	135.0M shares	145.0M shares	166.0M shares	185.0M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Dividends

Stock Price

Market Cap: $2.9767 Billion

About Travel + Leisure Co

Travel + Leisure Co. engages in the provision of hospitality services and travel products. The company is headquartered in Orlando, Florida and currently employs 19,000 full-time employees. The company went IPO on 2006-07-19. The Company’s segments include Vacation Ownership and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, provides consumer financing in connection with the sale of VOIs, and provides property management services at resorts. This segment includes its Wyndham Destinations business line. The company provides day-to-day property management services including oversight of housekeeping services, maintenance, and certain accounting and administrative services for property owners’ associations and clubs. These services may also include reservation and resort renovation activities. The Travel and Membership segment operates a variety of travel businesses, including vacation exchange brands, travel technology platforms, travel memberships, and direct-to-consumer rentals. This segment is comprised of its Exchange and Travel Club business lines.

Industry: Hotels & Motels Peers: Airbnb Inc Global Business Travel Group Inc Choice Hotels International Inc Hilton Grand Vacations Inc Marriott Vacations Worldwide Corp Soho House & Co Inc Norwegian Cruise Line Holdings Ltd Target Hospitality Corp Vacasa Inc Wyndham Hotels & Resorts Inc