TNL FINANCIAL STATEMENTS

Travel + Leisure Co — balance sheet, income statement and cash flow trends

TNLTravel + Leisure Co

🇺🇸 USA · NYSE · Consumer Cyclical · Travel Services

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue4 B $+4.3%

Gross Profit1.8 B $-8.6%

Operating Income618 M $-16.5%

EBITDA701 M $-20.4%

Net Income237 M $-43.3%

Peer Comparison· Travel Services

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
TNL	4.3%	43.2%	17.3%	5.9%
FLT	4.2%	37.9%	13.9%	3.8%
CTD	-4.3%	48.3%	18.4%	9.2%
TCKRC	—	—	—	39.7%
ATATR	-38.6%	43.3%	33.3%	26.7%
AGROT	—	—	—	-29.4%
Industry median	5.2%	43.3%	18.4%	5.8%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
TNL	4.3%	43.2%	17.3%	5.9%
GBTG	20.7%	59.0%	12.7%	2.9%
NCLH	6.5%	43.0%	23.7%	5.7%
TRIP	2.0%	76.6%	11.9%	1.0%
LIND	19.2%	35.9%	11.7%	-3.1%
EXPE	10.0%	90.3%	20.3%	9.8%
Industry median	5.2%	43.3%	18.4%	5.8%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Current Liabilities1.4 B $18%
Long-term Liabilities6.5 B $82%

Key Figures

YoY change

Total Assets6.8 B $+1.1%

Total Liabilities7.9 B $+2.6%

Total Equity-1 B $—

Cash & ST Investments254 M $+35.1%

Total Debt5.8 B $+1.7%

Net Debt5.5 B $+0.5%

Peer Comparison· Travel Services

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
TNL	1.15	-562.5%	7.85	-15.0%
FLT	1.07	130.6%	2.04	25.4%
CTD	1.42	2.9%	-0.31	76.6%
TCKRC	14.26	18.1%	0.45	73.0%
ATATR	4.46	9.9%	-2.24	77.3%
AGROT	4.82	3.4%	-0.09	76.0%
Industry median	1.16	43.0%	1.30	26.9%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
TNL	1.15	-562.5%	7.85	-15.0%
GBTG	1.18	99.8%	3.11	31.7%
NCLH	0.21	623.3%	6.29	10.2%
TRIP	1.25	199.8%	0.56	22.9%
LIND	0.81	-349.6%	3.68	-19.3%
EXPE	0.73	817.0%	-1.08	2.2%
Industry median	1.16	43.0%	1.30	26.9%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow910 M $+69.1%

Capital Expenditures173 M $+103.5%

Free Cash Flow737 M $+62.7%

Dividends Paid227 M $+56.6%

Peer Comparison· Travel Services

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
TNL	22.5%	18.2%	4.3%	384.0%
FLT	8.6%	7.3%	1.2%	224.6%
CTD	13.9%	16.1%	2.2%	150.3%
TCKRC	23.5%	-9.5%	33.0%	59.2%
ATATR	27.4%	23.7%	3.6%	102.7%
AGROT	-39.2%	-33.9%	4.0%	133.2%
Industry median	22.3%	9.3%	4.5%	151.1%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
TNL	22.5%	18.2%	4.3%	384.0%
GBTG	5.6%	0.9%	4.7%	191.9%
NCLH	22.2%	-9.5%	31.6%	391.1%
TRIP	13.9%	9.7%	4.2%	1,402.2%
LIND	15.6%	10.4%	5.2%	-509.9%
EXPE	32.0%	30.9%	6.4%	326.5%
Industry median	22.3%	9.3%	4.5%	151.1%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.