Travel & Leisure (TNL) Operating Expenses (2010 - 2026)
Travel & Leisure (TNL) posted quarterly Operating Expenses of $457.0 million for Q2 2026, down 43.72% year-over-year from $812.0 million in Q2 2025, and down 43.02% quarter-over-quarter from $802.0 million in Q1 2026.
Travel & Leisure (TNL) Operating Expenses (2010 - 2026) Analysis & Trends
Travel & Leisure's Operating Expenses history runs 17 years deep, the most recent figure standing at $457.0 million for Q2 2026.
- In Q2 2026, Operating Expenses fell 43.72% year-over-year to $457.0 million; the TTM figure through Jun 2026 stood at $1.1 billion (down 59.45% YoY), while the FY2025 annual figure was $1.8 billion, down 41.74% from the prior year.
- Operating Expenses for Q2 2026 stood at $457.0 million, down from $802.0 million in the prior quarter.
- The five-year high for Operating Expenses was $812.0 million in Q2 2025, with the low at -$599.0 million in Q4 2023.
- The 5-year median for Operating Expenses is $462.5 million (2025), against an average of $468.4 million.
- The sharpest annual moves came in 2023 and 2024: Operating Expenses tumbled 249.38% in 2023, then surged 227.71% in 2024.
- Travel & Leisure's Operating Expenses stood at $401.0 million in 2022, then sank by 249.38% to -$599.0 million in 2023, then soared by 227.71% to $765.0 million in 2024, then sank by 177.91% to -$596.0 million in 2025, then soared by 176.68% to $457.0 million in 2026.
- Business Quant data shows TNL's Operating Expenses at $457.0 million in Q2 2026, $802.0 million in Q1 2026, and -$596.0 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 158.32 Bn | 141.10 Bn | 4.98 Bn | 4.85 Bn |
| 2 | Airbnb | 106.52 Bn | 94.45 Bn | 2.98 Bn | 2.85 Bn |
| 3 | Royal Caribbean Cruises | 80.85 Bn | 79.93 Bn | 2.29 Bn | 513.00 Mn |
| 4 | Viking Holdings | 44.32 Bn | 40.51 Bn | 713.43 Mn | -272.04 Mn |
| 5 | Expedia | 38.65 Bn | 31.52 Bn | 3.91 Bn | 2.34 Bn |
| 6 | Carnival | 38.34 Bn | 36.10 Bn | - | 4.23 Bn |
| 7 | Trip.com | 29.11 Bn | 17.41 Bn | 1.86 Bn | -703.23 Mn |
| 8 | Norwegian Cruise Line Holdings | 8.35 Bn | 8.13 Bn | 1.05 Bn | 690.41 Mn |
| 9 | MakeMyTrip | 5.82 Bn | 5.04 Bn | 212.91 Mn | 114.09 Mn |
| 10 | Travel & Leisure | 4.62 Bn | 4.34 Bn | 891.00 Mn | 457.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 457.00 Mn |
| Mar 31, 2026 | 802.00 Mn |
| Dec 31, 2025 | -596.00 Mn |
| Sep 30, 2025 | 468.00 Mn |
| Jun 30, 2025 | 812.00 Mn |
| Mar 31, 2025 | 778.00 Mn |
| Dec 31, 2024 | 765.00 Mn |
| Sep 30, 2024 | 434.00 Mn |
| Jun 30, 2024 | 796.00 Mn |
| Mar 31, 2024 | 766.00 Mn |
| Dec 31, 2023 | -599.00 Mn |
| Sep 30, 2023 | 779.00 Mn |
| Jun 30, 2023 | 427.00 Mn |
| Mar 31, 2023 | 739.00 Mn |
| Dec 31, 2022 | 401.00 Mn |
| Sep 30, 2022 | 417.00 Mn |
| Jun 30, 2022 | 404.00 Mn |
| Mar 31, 2022 | 381.00 Mn |
| Dec 31, 2021 | -482.00 Mn |
| Sep 30, 2021 | 352.00 Mn |