Travel & Leisure (TNL) Return on Invested Capital [ROIC] (2010 - 2026)
Travel & Leisure (TNL) reported Return on Invested Capital [ROIC] of 13.24% for Q3 2026, down 7.25 percentage points from 20.50% a year earlier and down 1.19 percentage points from the prior quarter.
Powered by 
Analysis
Travel & Leisure (TNL) Return on Invested Capital [ROIC] (2010 - 2026) Analysis & Trends
For FY2025, Travel & Leisure posted Return on Invested Capital [ROIC] of 14.86%, down 5.73 percentage points from FY2024.
- Return on Invested Capital [ROIC] has a five-year change of +18.22 percentage points (FY2020 to FY2025).
- By year, Return on Invested Capital [ROIC] came in at 20.59% in FY2024 (-0.82 pp), 21.41% in FY2023 (+3.53 pp), 17.88% in FY2022 (+2.34 pp) and 15.55% in FY2021 (+18.91 pp).
- The Q3 2026 figure ranks as the lowest quarterly Return on Invested Capital [ROIC] since Q2 2021.
- Year over year, Return on Invested Capital [ROIC] has now declined in each of the last six quarters, with an average year-over-year change of -3.49 percentage points over the last eight quarters.
- The high point for year-over-year Return on Invested Capital [ROIC] in five years was Q4 2021 (a gain of 20.68 percentage points); the low point was Q3 2026 (a drop of 7.25 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 14.44% (Q2 2026), 14.93% (Q1 2026) and 14.47% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 108.57 Bn | 106.84 Bn | 1.54 Bn | 26.93% |
| 2 | Royal Caribbean Cruises | 87.25 Bn | 84.19 Bn | 2.88 Bn | 15.33% |
| 3 | Hilton Worldwide Holdings | 83.02 Bn | 79.75 Bn | 3.05 Bn | 31.87% |
| 4 | Carnival | 40.37 Bn | 33.56 Bn | - | 11.50% |
| 5 | Viking Holdings | 38.85 Bn | 23.97 Bn | 996.62 Mn | 22.52% |
| 6 | Trip.com | 29.18 Bn | -15.85 Bn | 1.84 Bn | 5.35% |
| 7 | Intercontinental Hotels | 27.60 Bn | 23.56 Bn | - | - |
| 8 | Hyatt Hotels | 17.33 Bn | 14.74 Bn | 384.00 Mn | -37.95% |
| 9 | H World | 15.68 Bn | 7.08 Bn | 456.00 Mn | 42.20% |
| 10 | Travel & Leisure | 4.62 Bn | 4.62 Bn | 1.08 Bn | 13.24% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 13.24% |
| Jun 30, 2026 | 14.44% |
| Mar 31, 2026 | 14.93% |
| Dec 31, 2025 | 14.47% |
| Sep 30, 2025 | 20.50% |
| Jun 30, 2025 | 20.73% |
| Mar 31, 2025 | 21.16% |
| Dec 31, 2024 | 20.55% |
| Sep 30, 2024 | 21.57% |
| Jun 30, 2024 | 21.03% |
| Mar 31, 2024 | 20.91% |
| Dec 31, 2023 | 21.51% |
| Sep 30, 2023 | 18.86% |
| Jun 30, 2023 | 18.94% |
| Mar 31, 2023 | 18.94% |
| Dec 31, 2022 | 18.23% |
| Sep 30, 2022 | 19.89% |
| Jun 30, 2022 | 19.54% |
| Mar 31, 2022 | 18.05% |
| Dec 31, 2021 | 17.65% |
API Access
Travel & Leisure Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=TNL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=TNL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();