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
DateValue
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%