TNL vs MAR Stock Comparison

Travel & Leisure and Marriott International Prices as of Oct 23, 2026 Peers: Industry group
TNL Travel & Leisure Co.
$64.91 +2.9% 1M -0.4% 1Y
Market cap
$4.09B
P/E
17.2x
Revenue (TTM)
$4.09B
Div. yield
0.04%
Vacation Ownership Consumer Discretionary
4 wins

Head to Head

12 decided of 12

Marriott International leads on 8 of the 12 questions below (Marriott International 8, Travel & Leisure 4). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionTNLMARLeader
Larger companyMarket capitalisation $4.09B $104.19B MAR
Cheaper on earningsLower P/E, profitable companies only 17.2x 40.3x TNL
Cheaper on forward earningsLower price / next fiscal year consensus EPS 9.0x 34.1x TNL
Faster revenue growthRevenue growth, trailing twelve months +4.5% +4.7% MAR
More profitableNet margin, trailing twelve months 5.8% 9.6% MAR
Better return on capitalReturn on invested capital 14.4% 25.5% MAR
Less leveragedLower net debt / EBITDA 5.4x 3.3x MAR
Higher dividend yieldTrailing dividend yield 0.04% 0.01% TNL
Better 1-year returnPrice return, last 12 months -0.4% +44.9% MAR
Better 5-year returnAnnualised price return, 5 years +4.3%/yr +20.4%/yr MAR
Less volatileAnnualised volatility, 1 year 33.1% 27.2% MAR
Higher overall scoreMean of the five percentile scores vs peers 59/100 48/100 TNL

Percentile Scorecard

TNLMAR

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisTNLMAR
Valuation 93 #3 of 29 21 #23 of 29
Growth 36 #17 of 26 52 #13 of 26
Profitability 60 #11 of 26 64 #10 of 26
Financial Health 17 #26 of 31 43 #18 of 31
Shareholder Returns 90 #3 of 20 58 #9 of 20
Overall 59 48
  • TNL ranked among 32 companies in Travel and Lodging
  • MAR ranked among 32 companies in Travel and Lodging

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodTNLMARSPY
1 month +2.9%+11.1% -1.0%
3 months -12.4%+4.3% +2.9%
6 months -3.6%+6.4% +6.4%
Year to date -8.0%+25.9% +11.4%
1 year -0.4%+44.9% +13.1%
3 years +94.4%+105.5% +79.4%
3 years, per year +24.8%+27.2% +21.5%
5 years +23.5%+152.5% +67.7%
5 years, per year +4.3%+20.4% +10.9%
10 years +111.8%+481.9% +255.2%
10 years, per year +7.8%+19.3% +13.5%

Risk

MeasureTNLMARSPY
Volatility, 1Y 33.1%27.2% 12.7%
Downside volatility, 1Y 37.5%24.8% 12.7%
Beta vs S&P 500, 1Y 0.940.63 1.00
Return / volatility, 1Y -0.011.65 1.03
Max drawdown, 5Y -47.6%-30.7% -25.4%
From 52-week high -17.6%-3.3% -2.5%
52-week high $78.74$404.00 $779.14
52-week low $61.25$260.58 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleTNLMAR
P/E now vs peer median 17.0xmedian 18.8x 39.9xmedian 18.8x
P/S now vs peer median 1.0xmedian 1.5x 3.8xmedian 1.5x
EV/EBITDA now vs peer median 11.2xmedian 15.0x 23.9xmedian 15.0x
P/FCF now vs peer median 9.0xmedian 16.0x 32.5xmedian 16.0x
P/B now vs peer median -3.9xmedian 2.5x -22.5xmedian 2.5x
PEG now vs peer median -2.10median 0.37 17.29median 0.37

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsTNLMAR
Revenue $4.09B $26.90B
Gross profit $3.80B $5.33B
Operating income $560.00M $4.25B
Net income $238.00M $2.59B
Free cash flow $442.00M $3.13B
EPS (diluted) $3.75 $9.78
Cash & equivalents – $462.00M
Total debt $3.70B $16.92B
Shares (diluted) 63.40M 264.50M
Enterprise value $4.09B $102.23B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricTNLMAR
P/E 17.0x 39.9x
P/FCF 9.0x 32.5x
P/Operating cash flow 7.3x 27.3x
P/S 1.0x 3.8x
P/B -3.9x -22.5x
P/Tangible book -3.3x -6.8x
EV/EBITDA 11.2x 23.9x
EV/EBIT 13.7x 27.8x
EV/Revenue 1.9x 4.4x
EV/FCF 17.4x 37.8x
EV/Operating cash flow 14.1x 31.7x
PEG (3Y EPS CAGR) -2.10 17.29

Growth

14 metrics
MetricTNLMAR
Revenue growth (1Y) 4.5% 4.7%
Revenue CAGR (3Y) 3.8% 5.5%
Gross profit growth (1Y) -0.9% 6.6%
Gross profit CAGR (3Y) 2.5% 1.3%
Operating income growth (1Y) -26.0% 9.5%
Operating income CAGR (3Y) -5.9% 2.0%
Net income growth (1Y) -40.1% 4.9%
Net income CAGR (3Y) -13.3% -2.4%
EPS growth (1Y) -37.1% 8.9%
EPS CAGR (3Y) -8.1% 2.3%
Operating cash flow growth (1Y) -8.6% 49.8%
Operating cash flow CAGR (3Y) 19.2% 9.3%
Free cash flow growth (1Y) -10.7% 86.2%
Free cash flow CAGR (3Y) 18.4% 8.6%

Profitability

14 metrics
MetricTNLMAR
Gross margin 92.9% 19.8%
EBITDA margin 16.8% 18.4%
Operating margin 13.7% 15.8%
Pretax margin 8.5% 12.9%
Net margin 5.8% 9.6%
FCF margin 10.8% 11.6%
Operating cash flow margin 13.3% 13.9%
Return on equity – –
Return on assets 3.5% 9.2%
Return on invested capital 14.4% 25.5%
Return on capital employed – 21.2%
Asset turnover 0.6x 1.0x
Cash conversion (OCF / net income) 2.3x 1.4x
Stock comp / revenue 1.4% 0.9%

Financial Health

11 metrics
MetricTNLMAR
Debt / assets 53.7% 60.2%
Debt / equity -3.6x -3.7x
Net debt / EBITDA 5.4x 3.3x
Debt / FCF 8.4x 5.4x
Liabilities / assets 114.8% 116.1%
Equity / assets -14.8% -16.1%
Interest coverage 1.5x 5.0x
Current ratio – 0.5x
Quick ratio – 0.5x
Cash ratio – 0.1x
Altman Z-score – 4.14

Shareholder Returns

7 metrics
MetricTNLMAR
Dividend yield 3.6% 0.7%
Net buyback yield 7.5% 3.5%
Shareholder yield 11.1% 4.2%
Payout ratio (earnings) 62.6% 28.3%
Payout ratio (FCF) 33.7% 23.3%
Dividend growth (1Y) 1.4% 3.1%
Dividend CAGR (3Y) 2.8% 13.2%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusTNLMAR
Forward P/E 9.0xFY2026 34.1xFY2026
EPS, next fiscal year $7.23FY2026 $11.45FY2026
EPS growth, next FY +14.0%FY2026 +14.3%FY2026
EPS growth, the year after +25.2% +22.3%
Revenue, next fiscal year $4.44BFY2026 $26.29BFY2026
Revenue growth, next FY +10.5%FY2026 +0.4%FY2026
Revenue growth, the year after +2.4% +4.4%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersTNLMAR
Held by institutions 100.0% 61.3%
Institutions holding 473 1,751
Change in shares held, QoQ +5.0% +3.1%
Institutions buying 199 860
Institutions selling 193 550
Buyers to sellers 1.03 1.56

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

TNLMAR
TNL 1.00 0.56
MAR 0.56 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, TNL and MAR?

Marriott International (MAR) is the largest by market capitalisation: Travel & Leisure (TNL) $4.09B, Marriott International (MAR) $104.19B.

Which stock is cheaper, TNL and MAR?

Travel & Leisure (TNL) trades on the lowest price-to-earnings ratio (Travel & Leisure (TNL) 17.2x, Marriott International (MAR) 40.3x). On next year's consensus earnings, Travel & Leisure (TNL) is cheapest (Travel & Leisure (TNL) 9.0x, Marriott International (MAR) 34.1x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Marriott International (MAR) grew revenue fastest over the trailing twelve months: Travel & Leisure (TNL) +4.5%, Marriott International (MAR) +4.7%.

Which company is more profitable?

Marriott International (MAR) has the highest net margin (Travel & Leisure (TNL) 5.8%, Marriott International (MAR) 9.6%). On return on invested capital, Marriott International (MAR) leads (Travel & Leisure (TNL) 14.4%, Marriott International (MAR) 25.5%).

Which stock has performed better?

Over the past year Marriott International (MAR) returned the most: Travel & Leisure (TNL) -0.4%, Marriott International (MAR) +44.9%. Over five years, Marriott International (MAR) compounded fastest (Travel & Leisure (TNL) +4.3%/yr, Marriott International (MAR) +20.4%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Travel & Leisure (TNL) has the highest dividend yield: Travel & Leisure (TNL) 0.04%, Marriott International (MAR) 0.01%.

Which stock is riskier?

By one-year price volatility, Marriott International (MAR) has been the steadiest (Travel & Leisure (TNL) 33.1%, Marriott International (MAR) 27.2%). Volatility measures how widely the price swings, not the risk of the business.

Do TNL and MAR move together?

Their daily returns over the past year have a correlation of 0.56, a moderate positive relationship. Holding both diversifies more than two closely linked stocks would.

Which is the better stock, TNL and MAR?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Marriott International (MAR) leads on 8. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.