Travel & Leisure (TNL) EBITDA Margin (2010 - 2026)
Travel & Leisure's (TNL) quarterly EBITDA Margin came in at 19.76% in Q2 2026, down 48.0% year-on-year from 37.99% in Q2 2025, and up 19.4% quarter-over-quarter from 16.55% in Q1 2026.
Travel & Leisure (TNL) EBITDA Margin (2010 - 2026) Analysis & Trends
Travel & Leisure's EBITDA Margin history runs 17 years deep, the most recent figure standing at 19.76% for Q2 2026.
- On a quarterly basis, EBITDA Margin fell 48.0% year-over-year to 19.76% in Q2 2026; TTM through Jun 2026 was 13.68%, a 565.0% decrease from a year earlier, with the FY2025 full-year figure at 13.75%, down 522.0% from the prior year.
- EBITDA Margin rose to 19.76% in Q2 2026 per TNL's latest filing, from 16.55% in the prior quarter.
- Across five years, EBITDA Margin topped out at 21.22% in Q4 2024 and bottomed at 2.24% in Q4 2025.
- The 5-year median for EBITDA Margin is 19.24% (2023), against an average of 17.58%.
- Across the five-year window, EBITDA Margin soared 239 bps in 2023 and sank 2346 bps in 2025, its largest moves.
- Year by year, EBITDA Margin stood at 18.02% in 2022, then advanced by 13 bps to 20.41% in 2023, then advanced by 4 bps to 21.22% in 2024, then sank by 111 bps to 2.24% in 2025, then surged by 980 bps to 19.76% in 2026.
- Per Business Quant, the three latest TNL EBITDA Margin figures stand at 19.76% (Q2 2026), 16.55% (Q1 2026), and 2.24% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 147.33 Bn | 131.30 Bn | 3.46 Bn | 22.98% |
| 2 | Airbnb | 87.37 Bn | 75.37 Bn | 2.10 Bn | 3.21% |
| 3 | Royal Caribbean Cruises | 78.48 Bn | 77.74 Bn | 2.21 Bn | 26.10% |
| 4 | Yatra Online | 56.11 Bn | 56.08 Bn | 10.44 Mn | 2.66% |
| 5 | Viking Holdings | 44.46 Bn | 40.66 Bn | 713.43 Mn | 0.03% |
| 6 | Carnival | 37.05 Bn | 34.81 Bn | - | 12.77% |
| 7 | Expedia | 34.04 Bn | 31.54 Bn | 3.05 Bn | 7.33% |
| 8 | Trip.com | 29.07 Bn | 17.38 Bn | 1.86 Bn | 29.83% |
| 9 | Norwegian Cruise Line Holdings | 8.91 Bn | 8.73 Bn | 953.34 Mn | 9.99% |
| 10 | Travel & Leisure | 4.71 Bn | 4.43 Bn | 891.00 Mn | 19.76% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 19.76% |
| Mar 31, 2026 | 16.55% |
| Dec 31, 2025 | -2.24% |
| Sep 30, 2025 | 20.50% |
| Jun 30, 2025 | 20.24% |
| Mar 31, 2025 | 16.70% |
| Dec 31, 2024 | 21.22% |
| Sep 30, 2024 | 19.03% |
| Jun 30, 2024 | 19.19% |
| Mar 31, 2024 | 16.38% |
| Dec 31, 2023 | 20.41% |
| Sep 30, 2023 | 20.99% |
| Jun 30, 2023 | 19.28% |
| Mar 31, 2023 | 15.70% |
| Dec 31, 2022 | 18.02% |
| Sep 30, 2022 | 20.17% |
| Jun 30, 2022 | 20.07% |
| Mar 31, 2022 | 14.46% |
| Dec 31, 2021 | 22.41% |
| Sep 30, 2021 | 22.17% |