Travel + Leisure Co. (TNL) Stock Price & Analysis
Travel + Leisure Co. (TNL) closed at USD 67.32 on Thursday, October 22, 2026, up 0.21% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 67.18; the Oct 22, 2026 session ranged USD 66.55–67.78 on volume of 757,015 shares. Market capitalization is $4.13B, with a 52-week range of USD 60.34–81 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 11:22 UTC.
Also available as compact Markdown for AI agents: nexqual.com/TNL.md
Key facts (TNL)
- Last four reported quarters (through Jun 30, 2026): revenue $4.09B, net income $238M (5.8% margin), free cash flow $442M (SEC filings).
- Valuation: P/E 17.3x (avg 12.2x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 12 Form 4 filings, $17.5M; 8 not under a Rule 10b5-1 plan ($15.4M); 0 by opportunistic insiders, 1 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $66K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (13 analysts), mean target USD 87.23 (range 70–107).
- Total return with dividends: 1Y +6.9% vs S&P 500 +14.9%; 5Y +56.3% vs S&P 500 +80.3%.
- Next earnings: 2026-10-27, EPS estimate USD 2.06, revenue estimate $1.08B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (TNL)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.13B | $3.57B | $3.75B | $3.86B | $4.02B | $4.09B |
| Gross profit | $2.98B | $3.41B | $3.62B | $3.77B | $3.75B | — |
| Operating income | $618M | $653M | $720M | $733M | $553M | $560M |
| Net income | $308M | $357M | $396M | $411M | $230M | $238M |
| EPS (diluted) | $3.52 | $4.24 | $5.28 | $5.82 | $3.44 | — |
| Free cash flow | $511M | $390M | $276M | $383M | $523M | $442M |
| Gross margin | 95.0% | 95.6% | 96.5% | 97.6% | 93.2% | — |
| Operating margin | 19.7% | 18.3% | 19.2% | 19.0% | 13.8% | 13.7% |
| Net margin | 9.8% | 10.0% | 10.6% | 10.6% | 5.7% | 5.8% |
| Revenue growth | +45.1% | +13.8% | +5.1% | +3.0% | +4.1% | — |
| Cash + short-term investments | $390M | $568M | $301M | $185M | $271M | — |
| Total debt | $5.31B | $5.64B | $5.65B | $5.59B | $5.60B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (TNL)
P/E 17.3x · P/S 1.0x · P/FCF 9.3x · FCF yield 10.71% · Earnings yield 5.77% · Dividend yield (paid, TTM) 3.61% · Buyback yield (TTM) 8.14%
P/E at fiscal year-ends: Dec 2025 20.5x, Dec 2024 8.7x, Dec 2023 7.4x.
Insider sales (SEC Form 4, open-market, last ~7 months) (TNL)
4 of 12 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-26 | Duncan Thomas Michael | SVP, Chief Accounting Officer | 20,000 | $1.5M | 79% | No | Too little history (no open-market trades in 2024) |
| 2026-08-06 | Brown Michael Dean | See Remarks | 200 | $16K | 0% | Yes (adopted November 25, 2025) | Too little history (no open-market trades in 2024) |
| 2026-08-05 | Brown Michael Dean | See Remarks | 4,150 | $329K | 0.8% | Yes (adopted November 25, 2025) | Too little history (no open-market trades in 2024) |
| 2026-08-04 | Myers Jeffrey | See Remarks | 34,000 | $2.6M | 33.4% | No | Too little history (no open-market trades in 2023) |
| 2026-08-04 | Esfahani Sy | Chief Technology Officer | 52,617 | $4.1M | 100% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-07-27 | Richards Geoffrey | See Remarks | 33,744 | $2.6M | 46% | No | Too little history (no open-market trades in 2023) |
| 2026-07-23 | Marshall Kimberly | Chief Human Resources Officer | 32,691 | $2.5M | 100% | No | Too little history (no open-market trades in 2023) |
| 2026-06-16 | Herrera George | Director | 500 | $38K | 27% | No | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
| 2026-06-04 | Marshall Kimberly | Chief Human Resources Officer | 28,000 | $2.0M | 45.8% | No | Too little history (no open-market trades in 2023) |
| 2026-05-14 | Post Denny Marie | Director | 2,500 | $160K | 55.8% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-16…2026-04-17 | Brown Michael Dean | See Remarks | 10,552 | $835K | 2.1% | Yes (adopted November 25, 2025) | Too little history (no open-market trades in 2024) |
| 2026-04-14…2026-04-15 | Brown Michael Dean | See Remarks | 11,522 | $910K | 2.3% | Yes (adopted November 25, 2025) | Too little history (no open-market trades in 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (TNL)
1 purchase, $66K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-04-23 | Hoag Erik D | Chief Financial Officer | 1,000 | $66K | 65.67 | Too little history (no open-market trades in 2023–2025) |
Analysts (TNL)
Consensus Buy (mean 2.00 on a 1–5 scale), 13 analysts; mean target USD 87.23 (low 70, high 107).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | Wells Fargo | Target lowered | Overweight | $92 → $90 |
| 2026-10-16 | Goldman Sachs | Target lowered | Buy | $87 → $78 |
| 2026-10-15 | Susquehanna | Target lowered | Positive | $95 → $75 |
| 2026-10-08 | JP Morgan | Initiated | Neutral | $70 |
| 2026-09-10 | Truist Securities | Target lowered | Buy | $88 → $86 |
| 2026-08-18 | Morgan Stanley | Target raised | Overweight | $83 → $85 |
| 2026-07-23 | Mizuho | Target raised | Outperform | $105 → $107 |
| 2026-07-23 | Wells Fargo | Target raised | Overweight | $87 → $92 |
| 2026-07-23 | Barclays | Target raised | Equal-Weight | $74 → $77 |
| 2026-07-17 | Morgan Stanley | Target raised | Overweight | $78 → $83 |
Total return (dividends reinvested) (TNL)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +6.9% | +56.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +6.9% | +9.3% |
| Volatility (annualized) | 32.5% | 33.3% |
| Max drawdown | -21.1% (Apr 2026→May 2026) | -40.8% (Feb 2022→Oct 2023) |
TNL revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Vacation Ownership | $907.0M | 85.3% | +6.3% |
| Travel and Membership | $157.0M | 14.8% | -5.4% |
| Total revenue | $1.06B | 100% | — |
TNL revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Vacation ownership interest sales | $524.0M | 49.3% | +10.5% |
| Service and membership fees | $396.0M | 37.3% | -2.7% |
| Property management fees and reimbursable revenues | $230.0M | 21.6% | +6.0% |
| Management fee revenues | $117.0M | 11.0% | +2.6% |
| Reimbursable revenues | $113.0M | 10.6% | +9.7% |
| Consumer financing | $113.0M | 10.6% | +0.9% |
| Transaction revenues | $109.0M | 10.3% | -6.8% |
| Deferred subscription revenue | $42.0M | 4.0% | -2.3% |
| Other | $30.0M | 2.8% | +20.0% |
| Ancillary revenues | $29.0M | 2.7% | +20.8% |
| Fee-for-Service commissions | $11.0M | 1.0% | -57.7% |
| Deferred exchange-related revenue | $9.0M | 0.8% | +0.0% |
| Total revenue | $1.06B | 100% | — |
TNL revenue by region (fiscal year ended Dec 31, 2025)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $3.54B | 88.2% | +4.1% |
| Non Us | $476.0M | 11.8% | +3.5% |
| Total revenue | $4.02B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
TNL suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | People Inc (PPLI) | “The acquisition created a strategic alliance between Travel + Leisure Co. and People Inc., with People Inc. continuing to operate and monetize Travel + Leisure branded multi-platform media assets across multiple channels under a 30-year royalty-free, renewable licensing relationship.” |
| Partner | AVIS BUDGET GROUP, INC. (CAR) | “Pursuant to the Separation and Distribution Agreement with the Company's former parent, ABG, the Company entered into certain guarantee commitments with ABG and ABG's former subsidiary, Anywhere Real Estate Inc. (formerly Realogy).” |
Quoted from the company's 10-K filed Feb 18, 2026.
TNL company outlook (results filed Jul 22, 2026)
- “Where one or more of the currently unavailable items is applicable, some items could be material, individually or in the aggregate, to GAAP reported results. 4 Conference Call Information Travel + Leisure Co. will hold a conference call with investors to discuss the Company's results and outlook today at 8:30 a.m.”
Quoted word-for-word from the SEC 8-K results press release.
TNL analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $2.06 | $2.03 | +1.3% | $1.08B | 12 |
| Next quarter (ends Dec 2026) | $2.21 | $2.18 | +1.6% | $1.07B | 12 |
| Current fiscal year (ends Dec 2026) | $7.56 | $7.53 | +0.4% | $4.18B | 12 |
| Next fiscal year (ends Dec 2027) | $8.76 | $8.74 | +0.2% | $4.39B | 12 |
TNL options: expected move
Options price a move of about ±9.0% (±$6.05) by Nov 20, 2026, which includes earnings on Oct 27, 2026. Over the last 8 reports the stock moved ±5% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 39.9% | ±9.0% |
| Dec 18, 2026 | 56 | 33.5% | ±10.8% |
| Feb 19, 2027 | 119 | 32.1% | ±14.6% |
| May 21, 2027 | 210 | 35.1% | ±20.9% |
30-day implied volatility 35.7% vs 23.8% realized over the last 30 trading days. Put/call ratio (volume) 0.23. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 11:22 UTC)
| Price | USD 67.32 |
|---|---|
| Change | ▲ 0.21% (up) |
| Previous Close | USD 67.18 |
| Open | USD 66.86 |
| Day Range | USD 66.55 – 67.78 |
| 52-Week Range | USD 60.34 – 81 |
| Volume | 757,015 shares |
| Market Cap | $4.13B |
| Exchange | NYQ |
Technical Analysis (TNL)
Nexqual's technical model rates TNL "BUY" based on 5 bullish and 2 bearish signals across 127 daily candles, as of October 23, 2026 at 11:22 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 63.26 (neutral) |
| vs SMA50 | Above (USD 66.45) |
| MACD | 0.18 (positive) |
Analyst Ratings (TNL)
Wall Street analysts rate TNL "Buy" based on 13 analysts, with a mean price target of USD 87.23 (range USD 70–107), per Nexqual as of October 23, 2026 at 11:22 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 13 |
| Mean Target | USD 87.23 |
| High Target | USD 107 |
| Low Target | USD 70 |
| Buy / Hold / Sell | 11 / 2 / 0 |
Earnings (TNL)
| Next Earnings Date | 2026-10-27 |
|---|---|
| EPS Estimate | USD 2.06 |
| Revenue Estimate | $1.08B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 1.88 vs est 1.91 ▼ miss |
| 2026-03-31 | USD 1.45 vs est 1.31 ▲ beat |
| 2025-12-31 | USD 1.83 vs est 1.82 ▲ beat |
| 2025-09-30 | USD 1.8 vs est 1.73 ▲ beat |
Source: Nexqual, October 23, 2026 at 11:22 UTC.
Financials & Fundamentals (TNL)
| Total Revenue | $4.09B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +4.40% |
| Gross Margin | +50.61% |
| Operating Margin | +19.75% |
| Profit Margin | +5.79% |
| Current Ratio | 3.2 |
| Total Cash | $282.00M |
| Total Debt | $5.87B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $442.00M (10.8% of revenue) |
Source: Nexqual, October 23, 2026 at 11:22 UTC.
Financial Health Score (TNL)
Nexqual rates Travel + Leisure Co.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 11:22 UTC.
| Growth | Mixed — Revenue +4.1% YoY (annual), slow |
|---|---|
| Profitability | Strong — Gross margin 51%, operating 20% (last 12 months) |
| Balance Sheet | Mixed — $271M cash and investments vs $5.60B debt (Dec 2025, SEC) |
| Cash Flow | Solid — FCF $442M (last 4 quarters to Jun 2026, SEC), 11% margin |
| Efficiency | Mixed — No data |
Ownership (TNL)
| Insider Ownership | +4.47% |
|---|---|
| Institutional Ownership | +105.91% |
| Shares Outstanding | 61.28M |
| Float | 60.04M |
| Short % of Float | +14.50% |
Source: Nexqual, October 23, 2026 at 11:22 UTC.
Leadership (TNL)
Travel + Leisure Co. is led by Michael D. Brown, CEO, President & Director, per Nexqual as of October 23, 2026 at 11:22 UTC.
| CEO, President & Director | Michael D. Brown |
|---|---|
| Executive VP & CFO | Erik D. Hoag |
| Chief Operating Officer - Vacation Ownership | Geoffrey Richards |
| Chief Technology Officer | Sy Esfahani |
| Executive Vice President of Marketing for Wyndham Vacation Clubs | Bill Schnepp |
Major Backers & Investors (TNL)
Notable institutional backers of Travel + Leisure Co. include Invesco, LSV Asset Management, Citadel, according to Nexqual as of October 23, 2026 at 11:22 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Invesco | 4.03% |
| LSV Asset Management | 2.92% |
| Citadel | 2.49% |
| Quantinno Capital Management, LP | 2.3% |
| Morgan Stanley | 2.22% |
| AIM Sector Funds (Invesco Sector Funds)-Invesco Small Cap Value Fund | 1.22% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 14.33% |
| BlackRock | 11.63% |
| State Street | 3.53% |
| Geode Capital | 2.74% |
Source: Nexqual, October 23, 2026 at 11:22 UTC.
From Travel + Leisure Co.'s Latest SEC 10-K Filing (filed 2026-02-18)
Key Strengths & Strategy (as disclosed to the SEC)
- We have a long-term, exclusive license agreement and marketing arrangements with Wyndham Hotels, the world's largest hotel franchising company by number of franchised properties, with approximately 8,300 hotels across approximately 100 countries as of September 30, 2025.
- Our purchaser financing activities are subject to a number of laws and regulations including those of applicable supervisory agencies such as, in the U.S., the Consumer Financial Protection Bureau, the Federal Trade Commission, and the Financial Crimes Enforcement Network.
- Our programs allow us to market and sell our vacation ownership products in variable quantities and to offer existing owners "upgrade" sales to supplement their existing VOIs.
- We expect this multi-brand strategy to allow us to expand within our existing markets, extend into new markets and support lead generation for new owner tours.
Partnerships
- We entered into a Separation and Distribution Agreement with Wyndham Hotels regarding the principal actions taken or to be taken in connection with the Spin-off.
- We are party to an Employee Matters Agreement with Wyndham Hotels that governs the respective rights, responsibilities and obligations of Wyndham Hotels and Travel + Leisure Co. following the Spin-off with respect to employment, compensation and benefits-related matters.
Legal & Regulatory Risks (Item 1A, quoted)
- Our business is subject to extensive regulation and the cost of compliance or failure to comply with such regulations may adversely affect us.
- The insurance we carry may not always pay, or be sufficient to pay or reimburse us, for our liabilities, losses or replacement costs.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| MMYT | MakeMyTrip Limited | USD 45.34 | ▲ 2.35% |
| NCLH | Norwegian Cruise Line Holdings | USD 15.54 | ▼ 0.32% |
| LIND | Lindblad Expeditions Holdings I | USD 35.25 | ▼ 2.6% |
| PRSU | Pursuit Attractions and Hospita | USD 56.29 | ▲ 0.48% |
| TRIP | TripAdvisor, Inc. | USD 9.67 | ▲ 2.44% |
| TCOM | Trip.com Group Limited | USD 39.57 | ▲ 0.66% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 11:22 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt