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Travel + Leisure Co.
🏹 Trader: 🎯 Near 52W High | BRS 64 Forming View all →
$4.7B
Market Cap
20.5
P/E
0.54
PEG
5.6%
ROCE
-24.7%
ROE
-5.70
D/E
13.8%
OPM
-6.1%
% from 52W High
66
α RS
🔍 TNL is showing a near-52W-high setup because it's within 6.1% of its 52-week high, RS Rating is 66, and it's hugging the 21 EMA. Net: Broad signal stack, not a recommendation. ? 52W High RS Rating Technicals
Sources
6.1% from 52W high · RS Rating 66 · hugging 21 EMA
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📈 Price History
Ratio Health
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About

Travel + Leisure Co., together with its subsidiaries, provides hospitality services and travel products in the United States and internationally.

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📊 MIXED Travel + Leisure Q1 2026: EBITDA $225M, EPS $1.45, gross VOI sales up 7%
Revenue & Profitability
Q1 2026 total revenue was $961 million, up 3% year-over-year. Adjusted EBITDA was $225 million, up 11%. Adjusted diluted EPS was $1.45, up 31%. Net income grew 22% (absolute number not disclosed). Gross VOI sales were $549 million, up 7%. Vacation Ownership segment EBITDA was $191 million, up 20%. Travel & Membership segment EBITDA was $59 million, down 13%. The company expects to convert roughly half of full-year adjusted EBITDA into free cash flow.
Outlook
Management noted macroeconomic uncertainty and geopolitical risk but stated that owner base remains healthy with no meaningful shifts in travel behavior. Gross bookings were up year-over-year, booking window steady at ~100 days, and average length of stay unchanged. Summer bookings are up year-over-year. The company expects full-year guidance to be reaffirmed, with gross VOI sales of $2.5-2.6 billion, EBITDA of $1.03-1.055 billion, and VPG of $3,175-$3,275. Early-stage delinquencies are being monitored, but provision is expected to be modestly down year-over-year.
Growth Drivers
Key growth levers include scaling multi-brand strategy: Margaritaville approaching $150 million in annual VOI sales, Accor Vacation Club expected to nearly double VOI sales in 2026, Eddie Bauer Adventure Club exceeding expectations after Q1 launch, and Sports Illustrated Resorts sales underway with a new location in Baton Rouge. Combined VOI sales from these brands are expected to approach 10% of sales mix in 2026. New owner tour growth was 7% in Q1. The expanded partnership with United Parks & Resorts (SeaWorld, Busch Gardens) will expand top-of-funnel demand.
Balance Sheet & CapEx
In Q1, the company took inventory drawdowns in Chicago and Nashville Sports Illustrated Resorts, which impacted free cash flow but does not change the full-year free cash flow conversion expectation of ~50%. The company continues to invest in digital technology (apps for Club Wyndham, WorldMark, Margaritaville) and AI for customer search and booking. The resort optimization initiative is realizing full expense savings (amount not specified) and sustaining historical sales growth despite closures.
Margins
In Q1, Vacation Ownership segment EBITDA margin expanded 180 basis points, driven by operating leverage, improved inventory efficiency, and benefits from the resort optimization initiative. EBITDA grew 11% on revenue growth of 3%, indicating strong operating leverage. Travel & Membership segment margins are under pressure due to mix shift from higher-margin exchange business to lower-margin travel clubs. For full year, the company expects EBITDA growth to support earnings per share growth in the teens.
Key Risks
Risks flagged include macroeconomic uncertainty and geopolitical risk potentially affecting consumer behavior. Early-stage delinquencies have increased in newer loan vintages, which could influence provision over time (though provision is expected to be down year-over-year). The Travel & Membership segment faces secular decline in exchange activity. The company noted dependence on continued access to securitization markets for financing. Management highlighted that they are monitoring travel trends (booking windows, distance traveled) as early indicators of consumer weakness.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-22
Second quarter and first half results showed strong revenue, EBITDA, and EPS growth, supported by robust travel demand and strategic acquisitions. Guidance for full-year EBITDA and VOI sales was raised, with continued focus on capital returns and digital innovation.
Q1 2026 Q1 2026 2026-04-22
Q1 2026 results exceeded expectations with strong Vacation Ownership growth, robust cash returns to shareholders, and effective cost savings from resort optimization. Guidance for 2026 is reaffirmed, with continued focus on multi-brand expansion and digital innovation.
Q4 2025 Q4 2025 2026-02-18
Delivered strong 2025 results with 4% revenue and 7% EBITDA growth, driven by Vacation Ownership and disciplined capital allocation. 2026 guidance calls for mid-single-digit EBITDA growth, continued share repurchases, and benefits from the Resort Optimization Initiative.
Q3 2025 Q3 2025 2025-10-22
Q3 saw strong revenue and EBITDA growth, driven by robust Vacation Ownership performance and digital engagement. Guidance for the year was raised, with continued capital returns and new brand launches supporting long-term growth.
Q2 2025 Q2 2025 2025-07-23
Q2 saw 3% revenue and 2% adjusted EBITDA growth, led by strong Vacation Ownership performance and robust VPG, while Travel and Membership faced headwinds from industry consolidation. Capital returns and investments in new brands and technology support long-term growth.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
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Information Sources:
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