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
DateValue
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%