Travel & Leisure Co. (TNL) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	4.2B	4.0B	3.9B	3.8B	3.6B
Cost of Revenue	2.3B	2.9B	2.0B	1.9B	1.8B
Gross Profit	1.9B	1.1B	1.9B	1.8B	1.7B
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	1.2B	1.1B	1.0B	961.0M	930.0M
General & Admin Expense	515.0M	498.0M	475.0M	454.0M	479.0M
Selling & Marketing Expense	648.0M	585.0M	550.0M	507.0M	451.0M
Other Expenses	117.0M	(707.0M)	134.0M	140.0M	145.0M
Total Operating Expenses	1.3B	376.0M	1.2B	1.1B	1.1B
Cost and Expenses	3.5B	3.3B	3.1B	3.0B	2.9B
Operating Income (EBIT)	603.0M	717.0M	733.0M	720.0M	653.0M
Non-Operating
Interest Income	466.0M	463.0M	14.0M	13.0M	6.0M
Interest Expense	364.0M	367.0M	249.0M	251.0M	195.0M
Net Interest Income	102.0M	96.0M	(235.0M)	(238.0M)	(189.0M)
Other Non-Op Income/Expense	(267.0M)	(380.0M)	(220.0M)	(235.0M)	(167.0M)
Non-Operating Income (excl Interest)	45.0M	13.0M	(29.0M)	(16.0M)	(28.0M)
EBT (Pre-Tax Income)	336.0M	337.0M	513.0M	485.0M	486.0M
Income Tax Expense	101.0M	107.0M	135.0M	94.0M	130.0M
Bottom Line
Net Income	235.0M	230.0M	411.0M	396.0M	357.0M
Earnings from Cont. Ops	235.0M	230.0M	378.0M	391.0M	356.0M
Earnings from Discont. Ops	—	—	33.0M	5.0M	1.0M
Bottom Line Net Income	235.0M	230.0M	378.0M	396.0M	356.0M
Per Share
Basic EPS	$3.82	$3.51	$5.39	$5.32	$4.27
Diluted EPS	$3.72	$3.44	$5.35	$5.28	$4.23
Revenue Per Share	$67.72	$61.30	$55.12	$50.34	$42.77
Shares
Basic Shares Outstanding	61.3M	65.6M	70.1M	74.5M	83.4M
Diluted Shares Outstanding	62.6M	66.9M	70.7M	75.0M	84.2M
Profitability Metrics
EBITDA	689.0M	828.0M	877.0M	848.0M	800.0M
D&A	131.0M	124.0M	115.0M	112.0M	119.0M
EBIT	558.0M	704.0M	762.0M	736.0M	681.0M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Sep 1, 2026