Travel & Leisure (TNL) Invested Capital (2009 - 2026)
Travel & Leisure (TNL) recorded Invested Capital of $3.03 billion in Q3 2026, up 11.0% from $2.73 billion a year earlier and up 13.2% from the prior quarter.
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Analysis
Travel & Leisure (TNL) Invested Capital (2009 - 2026) Analysis & Trends
For FY2025, Travel & Leisure reported Invested Capital of $2.49 billion, down 3.7% from FY2024.
- Annual Invested Capital has declined for three straight years, with a five-year compound annual growth rate of -5.0% (FY2020 to FY2025).
- Across earlier years, Invested Capital came in at $2.59 billion in FY2024 (-2.6%), $2.66 billion in FY2023 (-3.9%), $2.77 billion in FY2022 (+7.0%) and $2.59 billion in FY2021 (-19.6%).
- The Q3 2026 figure is the highest quarterly Invested Capital since Q4 2020.
- On a year-over-year basis, Invested Capital rose in four of the last eight quarters, with an average decline of 0.6%.
- Peak year-over-year performance for Invested Capital in the last five years was growth of 17.3% in Q1 2024, against a decline of 19.6% in Q4 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at $2.68 billion (Q2 2026), $2.63 billion (Q1 2026) and $2.49 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 109.06 Bn | 107.33 Bn | 1.54 Bn | 11.76 Bn |
| 2 | Royal Caribbean Cruises | 87.40 Bn | 84.34 Bn | 2.88 Bn | 34.27 Bn |
| 3 | Hilton Worldwide Holdings | 83.40 Bn | 80.13 Bn | 3.05 Bn | 6.76 Bn |
| 4 | Carnival | 40.28 Bn | 33.47 Bn | - | 38.12 Bn |
| 5 | Viking Holdings | 38.76 Bn | 23.88 Bn | 996.62 Mn | 7.60 Bn |
| 6 | Trip.com | 29.38 Bn | -15.66 Bn | 1.84 Bn | 27.57 Bn |
| 7 | Intercontinental Hotels | 27.65 Bn | 23.62 Bn | - | -4.02 Bn |
| 8 | Hyatt Hotels | 17.45 Bn | 14.86 Bn | 384.00 Mn | 7.93 Bn |
| 9 | H World | 15.62 Bn | 7.03 Bn | 456.00 Mn | 2.72 Bn |
| 10 | Travel & Leisure | 4.63 Bn | 4.63 Bn | 1.08 Bn | 3.03 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 3.03 Bn |
| Jun 30, 2026 | 2.68 Bn |
| Mar 31, 2026 | 2.63 Bn |
| Dec 31, 2025 | 2.49 Bn |
| Sep 30, 2025 | 2.73 Bn |
| Jun 30, 2025 | 2.78 Bn |
| Mar 31, 2025 | 2.58 Bn |
| Dec 31, 2024 | 2.59 Bn |
| Sep 30, 2024 | 2.69 Bn |
| Jun 30, 2024 | 2.69 Bn |
| Mar 31, 2024 | 2.94 Bn |
| Dec 31, 2023 | 2.66 Bn |
| Sep 30, 2023 | 2.73 Bn |
| Jun 30, 2023 | 2.67 Bn |
| Mar 31, 2023 | 2.51 Bn |
| Dec 31, 2022 | 2.77 Bn |
| Sep 30, 2022 | 2.49 Bn |
| Jun 30, 2022 | 2.53 Bn |
| Mar 31, 2022 | 2.57 Bn |
| Dec 31, 2021 | 2.59 Bn |
API Access
Travel & Leisure Invested Capital 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=invested-capital&ticker=TNL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=TNL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();