Travel & Leisure (TNL) Free Cash Flow (2009 - 2026)
Travel & Leisure (TNL) recorded Free Cash Flow of $111 million in Q3 2026, down 18.4% from $136 million a year earlier and down 43.1% from the prior quarter.
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Analysis
Travel & Leisure (TNL) Free Cash Flow (2009 - 2026) Analysis & Trends
On a TTM basis, Travel & Leisure's Free Cash Flow came in at $417 million as of Sep 30, 2026, down 17.6% year-over-year; for FY2025, it came in at $523 million, up 36.6% from FY2024.
- Annual Free Cash Flow has a five-year compound annual growth rate of 11.4% (FY2020 to FY2025).
- Across earlier years, Free Cash Flow came in at $383 million in FY2024 (+38.8%), $276 million in FY2023 (-29.2%), $390 million in FY2022 (-23.7%) and $511 million in FY2021 (+67.5%).
- Quarterly Free Cash Flow has ranged from -$5 million in Q1 2023 to $195 million in Q2 2026 over the past five years.
- On a year-over-year basis, Free Cash Flow rose in four of the last eight quarters, with growth averaging 19.4%.
- Peak year-over-year performance for Free Cash Flow in the last five years was growth of 233.3% in Q1 2025, against a decline of 81.0% in Q1 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at $195 million (Q2 2026), $19 million (Q1 2026) and $92 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 110.83 Bn | 108.88 Bn | 1.55 Bn | 796.00 Mn |
| 2 | Royal Caribbean Cruises | 84.42 Bn | 81.36 Bn | 2.88 Bn | 937.00 Mn |
| 3 | Hilton Worldwide Holdings | 81.61 Bn | 78.34 Bn | 3.05 Bn | 689.00 Mn |
| 4 | Carnival | 40.54 Bn | 33.73 Bn | - | 712.00 Mn |
| 5 | Viking Holdings | 39.23 Bn | 24.35 Bn | 996.62 Mn | -1.41 Bn |
| 6 | Intercontinental Hotels | 26.60 Bn | 22.57 Bn | - | - |
| 7 | Trip.com | 26.59 Bn | -18.44 Bn | 1.84 Bn | - |
| 8 | Hyatt Hotels | 17.48 Bn | 14.89 Bn | 384.00 Mn | -157.00 Mn |
| 9 | H World | 14.99 Bn | 6.39 Bn | 456.00 Mn | 528.00 Mn |
| 10 | Travel & Leisure | 4.51 Bn | 4.51 Bn | 1.08 Bn | 111.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 111.00 Mn |
| Jun 30, 2026 | 195.00 Mn |
| Mar 31, 2026 | 19.00 Mn |
| Dec 31, 2025 | 92.00 Mn |
| Sep 30, 2025 | 136.00 Mn |
| Jun 30, 2025 | 195.00 Mn |
| Mar 31, 2025 | 100.00 Mn |
| Dec 31, 2024 | 75.00 Mn |
| Sep 30, 2024 | 125.00 Mn |
| Jun 30, 2024 | 153.00 Mn |
| Mar 31, 2024 | 30.00 Mn |
| Dec 31, 2023 | 120.00 Mn |
| Sep 30, 2023 | 74.00 Mn |
| Jun 30, 2023 | 87.00 Mn |
| Mar 31, 2023 | -5.00 Mn |
| Dec 31, 2022 | 159.00 Mn |
| Sep 30, 2022 | 25.00 Mn |
| Jun 30, 2022 | 75.00 Mn |
| Mar 31, 2022 | 131.00 Mn |
| Dec 31, 2021 | 116.00 Mn |
API Access
Travel & Leisure Free Cash Flow 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=free-cash-flow&ticker=TNL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "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=free-cash-flow&ticker=TNL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();