Travel & Leisure (TNL) EBT Margin (2010 - 2026)
Travel & Leisure's (TNL) quarterly EBT Margin came in at 14.58% in Q2 2026, down 35.0% year-on-year from 22.43% in Q2 2025, and up 29.75% quarter-over-quarter from 11.24% in Q1 2026.
Travel & Leisure (TNL) EBT Margin (2010 - 2026) Analysis & Trends
Travel & Leisure's EBT Margin history runs 17 years deep, the most recent figure standing at 14.58% for Q2 2026.
- On a quarterly basis, EBT Margin fell 35.0% year-over-year to 14.58% in Q2 2026; TTM through Jun 2026 was 8.5%, a 529.0% decrease from a year earlier, with the FY2025 full-year figure at 8.38%, down 490.0% from the prior year.
- EBT Margin improved to 14.58% in Q2 2026 per TNL's latest filing, from 11.24% in the prior quarter.
- Across five years, EBT Margin topped out at 17.29% in Q3 2022 and bottomed at 7.12% in Q4 2025.
- The 5-year median for EBT Margin is 13.37% (2022), against an average of 12.1%.
- Across the five-year window, EBT Margin jumped 357 bps in 2022 and slumped 2329 bps in 2025, its largest moves.
- Year by year, EBT Margin stood at 13.24% in 2022, then increased by 3 bps to 13.57% in 2023, then gained by 19 bps to 16.17% in 2024, then slumped by 144 bps to 7.12% in 2025, then surged by 305 bps to 14.58% in 2026.
- Per Business Quant, the three latest TNL EBT Margin figures stand at 14.58% (Q2 2026), 11.24% (Q1 2026), and 7.12% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 136.54 Bn | 120.51 Bn | 3.46 Bn | 25.29% |
| 2 | Royal Caribbean Cruises | 86.11 Bn | 85.59 Bn | 2.21 Bn | 21.92% |
| 3 | Airbnb | 82.27 Bn | 70.26 Bn | 2.10 Bn | 10.49% |
| 4 | Yatra Online | 55.46 Bn | 55.47 Bn | 10.44 Mn | -9.64% |
| 5 | Viking Holdings | 44.18 Bn | 40.37 Bn | 713.43 Mn | 17.70% |
| 6 | Carnival | 34.61 Bn | 32.38 Bn | - | 8.33% |
| 7 | Expedia | 31.38 Bn | 28.88 Bn | 3.05 Bn | 0.73% |
| 8 | Norwegian Cruise Line Holdings | 8.54 Bn | 8.35 Bn | 953.34 Mn | 4.62% |
| 9 | MakeMyTrip | 5.02 Bn | 4.60 Bn | 199.14 Mn | 12.11% |
| 10 | Travel & Leisure | 4.58 Bn | 4.29 Bn | 891.00 Mn | 14.58% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 14.58% |
| Mar 31, 2026 | 11.24% |
| Dec 31, 2025 | -7.12% |
| Sep 30, 2025 | 15.13% |
| Jun 30, 2025 | 14.93% |
| Mar 31, 2025 | 10.81% |
| Dec 31, 2024 | 16.17% |
| Sep 30, 2024 | 13.09% |
| Jun 30, 2024 | 13.50% |
| Mar 31, 2024 | 10.04% |
| Dec 31, 2023 | 13.57% |
| Sep 30, 2023 | 15.01% |
| Jun 30, 2023 | 13.17% |
| Mar 31, 2023 | 9.67% |
| Dec 31, 2022 | 13.24% |
| Sep 30, 2022 | 17.29% |
| Jun 30, 2022 | 14.32% |
| Mar 31, 2022 | 9.15% |
| Dec 31, 2021 | 17.24% |
| Sep 30, 2021 | 16.69% |