Travel & Leisure (TNL) FCF Margin (2010 - 2026)
Travel & Leisure (TNL) recorded FCF Margin of 10.08% in Q3 2026, down 2.95 percentage points from 13.03% a year earlier and down 8.26 percentage points from the prior quarter.
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Analysis
Travel & Leisure (TNL) FCF Margin (2010 - 2026) Analysis & Trends
On a TTM basis, Travel & Leisure's FCF Margin came in at 10.05% as of Sep 30, 2026, down 2.71 percentage points year-over-year; for FY2025, it was 13.01%, up 3.09 percentage points from FY2024.
- Annual FCF Margin has a five-year change of -1.11 percentage points (FY2020 to FY2025).
- Across earlier years, FCF Margin came in at 9.91% in FY2024 (+2.55 pp), 7.36% in FY2023 (-3.57 pp), 10.93% in FY2022 (-5.37 pp) and 16.31% in FY2021 (+2.18 pp).
- Quarterly FCF Margin has ranged from -0.57% in Q1 2023 to 19.16% in Q2 2025 over the past five years.
- On a year-over-year basis, FCF Margin has declined for three consecutive quarters, with an average year-over-year change of -0.60 percentage points over the last eight quarters.
- Peak year-over-year performance for FCF Margin in the last five years was a gain of 7.43 percentage points in Q1 2025, against a drop of 16.83 percentage points in Q2 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 18.34% (Q2 2026), 1.98% (Q1 2026) and 8.98% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 105.39 Bn | 103.43 Bn | 1.55 Bn | 11.26% |
| 2 | Royal Caribbean Cruises | 81.61 Bn | 78.54 Bn | 2.88 Bn | 16.76% |
| 3 | Hilton Worldwide Holdings | 79.79 Bn | 76.53 Bn | 3.05 Bn | 20.72% |
| 4 | Carnival | 39.37 Bn | 32.56 Bn | - | 8.44% |
| 5 | Viking Holdings | 38.86 Bn | 23.98 Bn | 996.62 Mn | -64.30% |
| 6 | Trip.com | 26.00 Bn | -19.04 Bn | 1.84 Bn | - |
| 7 | Intercontinental Hotels | 25.87 Bn | 21.84 Bn | - | - |
| 8 | Hyatt Hotels | 16.96 Bn | 14.38 Bn | 384.00 Mn | -9.01% |
| 9 | H World | 14.64 Bn | 6.04 Bn | 456.00 Mn | 50.29% |
| 10 | Travel & Leisure | 4.36 Bn | 4.36 Bn | 1.08 Bn | 10.08% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 10.08% |
| Jun 30, 2026 | 18.34% |
| Mar 31, 2026 | 1.98% |
| Dec 31, 2025 | 8.98% |
| Sep 30, 2025 | 13.03% |
| Jun 30, 2025 | 19.16% |
| Mar 31, 2025 | 10.71% |
| Dec 31, 2024 | 7.72% |
| Sep 30, 2024 | 12.59% |
| Jun 30, 2024 | 15.53% |
| Mar 31, 2024 | 3.28% |
| Dec 31, 2023 | 12.82% |
| Sep 30, 2023 | 7.51% |
| Jun 30, 2023 | 9.17% |
| Mar 31, 2023 | -0.57% |
| Dec 31, 2022 | 17.69% |
| Sep 30, 2022 | 2.67% |
| Jun 30, 2022 | 8.13% |
| Mar 31, 2022 | 16.19% |
| Dec 31, 2021 | 13.33% |
API Access
Travel & Leisure FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=TNL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "TNL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=TNL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();