Travel & Leisure (TNL) Operating Margin (2010 - 2026)

Travel & Leisure's Operating Margin history runs 17 years deep, the most recent figure standing at 16.55% for Q1 2026.

• In Q1 2026, Operating Margin fell 16.0% year-over-year to 16.55%; the TTM figure through Mar 2026 stood at 13.74% (down 532.0% YoY), while the FY2025 annual figure was 13.75%, down 522.0% from the prior year.
• Operating Margin was 16.55% for Q1 2026 at Travel & Leisure, up from 2.24% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 21.22% in Q4 2024 to a low of 2.24% in Q4 2025.
• Historically, Operating Margin has averaged 17.45% across 5 years, with a median of 19.19% in 2024.
• The sharpest annual moves came in 2023 and 2025: Operating Margin jumped 239 bps in 2023, then sank 2346 bps in 2025.
• A 5-year view of Operating Margin shows it stood at 18.02% in 2022, then advanced by 13 bps to 20.41% in 2023, then advanced by 4 bps to 21.22% in 2024, then tumbled by 111 bps to 2.24% in 2025, then jumped by 837 bps to 16.55% in 2026.
• The last three Operating Margin figures came in at 16.55% (Q1 2026), 2.24% (Q4 2025), and 20.5% (Q3 2025), per Business Quant data.