Travel + Leisure Co
NYSE: TNL · CONSUMER CYCLICAL · TRAVEL SERVICES
Updated 2026-06-05
Travel + Leisure Co (TNL) Financial statements
SEC filings — annual and quarterly data.
Balance sheet — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $9.52B | $10.46B | $9.57B | $9.35B | $9.42B | $9.02B | $9.46B | $9.74B | $9.68B | $9.72B | $9.82B | $10.40B | $7.16B | $7.45B | $7.61B | $6.59B | $6.76B | $6.74B | $6.74B | $6.76B |
| Cash & equivalents | $269.00M | $210.00M | $136.00M | $155.00M | $156.00M | $142.00M | $195.00M | $194.00M | $183.00M | $171.00M | $113.00M | $48.00M | $218.00M | $355.00M | $1.20B | $369.00M | $550.00M | $282.00M | $167.00M | $253.00M |
| Current assets | $2.05B | $2.06B | $1.91B | $1.74B | $1.75B | $1.70B | $1.83B | $1.85B | $1.78B | $1.67B | $1.74B | $8.38B | $5.23B | $5.36B | $5.62B | $4.49B | $4.76B | $4.76B | $4.78B | $1.55B |
| Total liabilities | $5.96B | $6.94B | $7.23B | $6.66B | $6.50B | $6.79B | $7.53B | $8.12B | $8.42B | $8.76B | $9.10B | $9.52B | $7.73B | $7.98B | $8.58B | $7.38B | $7.66B | $7.66B | $7.62B | $7.74B |
| Current liabilities | $1.98B | $2.18B | $2.17B | $1.89B | $1.57B | $1.56B | $1.93B | $1.74B | $1.86B | $1.96B | $2.03B | $2.91B | $1.65B | $1.31B | $715.00M | $1.16B | $1.14B | $1.17B | $1.17B | $945.00M |
| Long-term debt | $2.61B | $3.19B | $3.33B | $3.14B | $3.51B | $3.77B | $4.02B | $4.61B | $4.79B | $4.96B | $5.28B | $5.69B | $5.24B | $5.58B | $6.41B | $5.30B | $5.63B | $5.63B | $5.57B | $5.58B |
| Shareholder equity | $3.56B | $3.52B | $2.34B | $2.69B | $2.92B | $2.23B | $1.93B | $1.62B | $1.25B | $950.00M | $714.00M | $878.00M | $-569.00M | $-524.00M | $-968.00M | $-794.00M | $-904.00M | $-917.00M | $-881.00M | $-982.00M |
| Retained earnings | $156.00M | $525.00M | $-578.00M | $-315.00M | $-25.00M | $293.00M | $558.00M | $832.00M | $1.18B | $1.59B | $1.98B | $2.61B | $1.44B | $1.78B | $1.39B | $1.59B | $1.81B | $2.07B | $2.33B | $2.41B |
| Accounts receivable | $819.00M | $767.00M | $751.00M | $693.00M | $720.00M | $775.00M | $823.00M | $925.00M | $897.00M | $901.00M | $676.00M | $3.18B | $3.23B | $3.38B | $2.69B | $2.50B | $2.64B | $2.89B | $2.95B | $165.00M |
| Inventory | $520.00M | $586.00M | $414.00M | $354.00M | $348.00M | $351.00M | $379.00M | $346.00M | $302.00M | $295.00M | $315.00M | $340.00M | $1.22B | $1.20B | $1.35B | $1.22B | $1.19B | $1.14B | $1.23B | $1.13B |
| Goodwill | $2.70B | $2.72B | $1.35B | $1.39B | $1.48B | $1.48B | $1.57B | $1.59B | $1.55B | $1.56B | $1.60B | $1.34B | $922.00M | $970.00M | $964.00M | $961.00M | $955.00M | $962.00M | $966.00M | $972.00M |
Frequently asked questions
What is Travel + Leisure Co's revenue?
Travel + Leisure Co's trailing twelve-month revenue is $4.05B. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is TNL?
In its most recent fiscal year, TNL ran a gross margin of 27.18%, an operating margin of 17.83%, and a net margin of 5.72%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does TNL generate?
TNL produced $523.00M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is TNL's balance sheet healthy?
TNL holds $253.00M in cash and equivalents against $5.58B in long-term debt, on $-982.00M of shareholder equity. That debt is best read against the cash flow the business throws off each year.