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

Travel & Leisure (TNL) recorded quarterly EBT Margin of 11.24% in Q1 2026, up 257.8% quarter-over-quarter from 7.12% in Q4 2025, and up 42.0% on a YoY basis from 7.91% in Q1 2025.

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 11.24% for Q1 2026.

  • In Q1 2026, EBT Margin rose 42.0% year-over-year to 11.24%; the TTM figure through Mar 2026 stood at 8.52% (down 489.0% YoY), while the FY2025 annual figure was 8.38%, down 490.0% from the prior year.
  • EBT Margin was 11.24% for Q1 2026 at Travel & Leisure, up from 7.12% in the prior quarter.
  • In the past five years, EBT Margin ranged from a high of 17.29% in Q3 2022 to a low of 7.12% in Q4 2025.
  • Historically, EBT Margin has averaged 11.95% across 5 years, with a median of 13.24% in 2022.
  • The sharpest annual moves came in 2022 and 2025: EBT Margin surged 357 bps in 2022, then slumped 2329 bps in 2025.
  • A 5-year view of EBT Margin shows it 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 plunged by 144 bps to 7.12% in 2025, then surged by 258 bps to 11.24% in 2026.
  • The last three EBT Margin figures came in at 11.24% (Q1 2026), 7.12% (Q4 2025), and 15.13% (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) EBT Margin (Qtr)
1 Booking Holdings 131.01 Bn 114.99 Bn 3.46 Bn 25.29%
2 Airbnb 79.86 Bn 67.85 Bn 2.10 Bn 10.49%
3 Royal Caribbean Cruises 75.60 Bn 75.08 Bn 2.21 Bn 21.92%
4 Carnival 37.80 Bn 36.39 Bn - 4.54%
5 Expedia 27.88 Bn 22.09 Bn 3.05 Bn 0.73%
6 Norwegian Cruise Line Holdings 8.56 Bn 8.38 Bn 953.34 Mn 4.62%
7 Global Business Travel 4.79 Bn 4.35 Bn 714.00 Mn 1.31%
8 Travel & Leisure 4.51 Bn 4.25 Bn 926.00 Mn 11.24%
9 Trip.com 4.42 Bn -788.25 Mn 1.74 Bn 17.22%
10 MakeMyTrip 2.12 Bn 1.35 Bn - 12.11%

Historic Data

Download Data
DateValue
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%
Jun 30, 2021 13.17%