Travel & Leisure (TNL) EBITDA Margin (2010 - 2026)

Travel & Leisure (TNL) recorded quarterly EBITDA Margin of 16.55% in Q1 2026, up 837.34% quarter-over-quarter from 2.24% in Q4 2025, and down 16.0% on a YoY basis from 19.7% in Q1 2025.

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 16.55% for Q1 2026.

  • In Q1 2026, EBITDA Margin fell 16.0% year-over-year to 16.55%; the TTM figure through Mar 2026 stood at 13.74% (down 532.0% YoY), while the FY2025 annual figure was 13.75%, down 522.0% from the prior year.
  • EBITDA Margin was 16.55% for Q1 2026 at Travel & Leisure, up from 2.24% in the prior quarter.
  • In the past five years, EBITDA Margin ranged from a high of 21.22% in Q4 2024 to a low of 2.24% in Q4 2025.
  • Historically, EBITDA Margin has averaged 17.45% across 5 years, with a median of 19.19% in 2024.
  • The sharpest annual moves came in 2023 and 2025: EBITDA Margin jumped 239 bps in 2023, then sank 2346 bps in 2025.
  • A 5-year view of EBITDA Margin shows it 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 tumbled by 111 bps to 2.24% in 2025, then jumped by 837 bps to 16.55% in 2026.
  • The last three EBITDA Margin figures came in at 16.55% (Q1 2026), 2.24% (Q4 2025), and 20.5% (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) EBITDA Margin (Qtr)
1 Booking Holdings 131.01 Bn 114.99 Bn 3.46 Bn 22.98%
2 Airbnb 79.86 Bn 67.85 Bn 2.10 Bn 3.21%
3 Royal Caribbean Cruises 75.60 Bn 75.08 Bn 2.21 Bn 26.08%
4 Carnival 37.80 Bn 36.39 Bn - 9.85%
5 Expedia 27.88 Bn 22.09 Bn 3.05 Bn 13.78%
6 Norwegian Cruise Line Holdings 8.56 Bn 8.38 Bn 953.34 Mn 9.99%
7 Global Business Travel 4.79 Bn 4.35 Bn 714.00 Mn 0.36%
8 Travel & Leisure 4.51 Bn 4.25 Bn 926.00 Mn 16.55%
9 Trip.com 4.42 Bn -788.25 Mn 1.74 Bn 22.20%
10 MakeMyTrip 2.12 Bn 1.35 Bn - -4.59%

Historic Data

Download Data
DateValue
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%
Jun 30, 2021 18.95%