Travel & Leisure (TNL) Gross Margin (2010 - 2026)
Travel & Leisure (TNL) posted quarterly Gross Margin of 83.82% for Q2 2026, down 125.0% year-over-year from 335.28% in Q2 2025, and down 13.01% quarter-over-quarter from 96.36% in Q1 2026.
Travel & Leisure (TNL) Gross Margin (2010 - 2026) Analysis & Trends
Travel & Leisure's Gross Margin history runs 12 years deep, the most recent figure standing at 83.82% for Q2 2026.
- In Q2 2026, Gross Margin fell 125.0% year-over-year to 83.82%; the TTM figure through Jun 2026 stood at 98.66% (down 191.0% YoY), while the FY2025 annual figure was 93.21%, down 441.0% from the prior year.
- Gross Margin for Q2 2026 stood at 83.82%, down from 96.36% in the prior quarter.
- The five-year high for Gross Margin was 133.47% in Q4 2024, with the low at 83.82% in Q2 2026.
- The 5-year median for Gross Margin is 96.4% (2022), against an average of 97.25%.
- The sharpest annual moves came in 2024 and 2025: Gross Margin jumped 3625 bps in 2024, then tumbled 1737 bps in 2025.
- Travel & Leisure's Gross Margin stood at 96.44% in 2022, then gained by 1 bps to 97.22% in 2023, then soared by 37 bps to 133.47% in 2024, then fell by 13 bps to 116.1% in 2025, then slipped by 28 bps to 83.82% in 2026.
- Business Quant data shows TNL's Gross Margin at 83.82% in Q2 2026, 96.36% in Q1 2026, and 116.1% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 157.63 Bn | 140.41 Bn | 4.98 Bn | 67.75% |
| 2 | Airbnb | 106.16 Bn | 94.09 Bn | 2.98 Bn | 82.46% |
| 3 | Royal Caribbean Cruises | 81.03 Bn | 80.11 Bn | 2.29 Bn | 47.29% |
| 4 | Viking Holdings | 44.28 Bn | 40.47 Bn | 713.43 Mn | 41.37% |
| 5 | Carnival | 38.41 Bn | 36.17 Bn | - | - |
| 6 | Expedia | 38.31 Bn | 31.18 Bn | 3.91 Bn | 90.66% |
| 7 | Trip.com | 29.06 Bn | 17.36 Bn | 1.86 Bn | 79.12% |
| 8 | Norwegian Cruise Line Holdings | 8.36 Bn | 8.15 Bn | 1.05 Bn | 39.91% |
| 9 | MakeMyTrip | 5.80 Bn | 5.03 Bn | 212.91 Mn | 74.55% |
| 10 | Travel & Leisure | 4.62 Bn | 4.33 Bn | 891.00 Mn | 83.82% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 83.82% |
| Mar 31, 2026 | 96.36% |
| Dec 31, 2025 | 116.10% |
| Sep 30, 2025 | 98.75% |
| Jun 30, 2025 | 85.07% |
| Mar 31, 2025 | 86.72% |
| Dec 31, 2024 | 133.47% |
| Sep 30, 2024 | 97.28% |
| Jun 30, 2024 | 97.87% |
| Mar 31, 2024 | 86.79% |
| Dec 31, 2023 | 97.22% |
| Sep 30, 2023 | 95.64% |
| Jun 30, 2023 | 96.52% |
| Mar 31, 2023 | 96.59% |
| Dec 31, 2022 | 96.44% |
| Sep 30, 2022 | 95.84% |
| Jun 30, 2022 | 95.01% |
| Mar 31, 2022 | 95.06% |
| Dec 31, 2021 | 94.02% |
| Sep 30, 2021 | 94.87% |