Travel+Leisure Co.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Travel+Leisure Co. reported revenue of $4.0B (+4.1% year on year) and net income of $230.0M (-39.2% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net revenues | $4.0B | $3.9B | $3.8B | $3.6B |
| Operating | $1.8B | $1.7B | $1.7B | $1.6B |
| Marketing | $585.0M | $550.0M | $507.0M | $451.0M |
| General and administrative | $498.0M | $475.0M | $454.0M | $479.0M |
| Cost of vacation ownership interests | $273.0M | $92.0M | $133.0M | $157.0M |
| Consumer financing interest | $135.0M | $136.0M | $112.0M | $79.0M |
| Depreciation and amortization | $124.0M | $115.0M | $112.0M | $119.0M |
| Restructuring | $19.0M | $16.0M | $26.0M | $14.0M |
| Asset impairments, net | $10.0M | $3.0M | $0 | $10.0M |
| Total expenses | $3.5B | $3.1B | $3.0B | $2.9B |
| Loss on sale of business | $0 | $0 | $2.0M | — |
| Operating income | $553.0M | $733.0M | $720.0M | $653.0M |
| Interest expense | $232.0M | $249.0M | $251.0M | $195.0M |
| Interest (income) | ($9.0M) | ($14.0M) | ($13.0M) | ($6.0M) |
| Other (income), net | ($7.0M) | ($15.0M) | ($3.0M) | ($22.0M) |
| Income before income taxes | $337.0M | $513.0M | $485.0M | $486.0M |
| Provision for income taxes | $107.0M | $135.0M | $94.0M | $130.0M |
| Net income from continuing operations | $230.0M | $378.0M | $391.0M | $356.0M |
| Gain on disposal of discontinued business, net of income taxes | $0 | $33.0M | $5.0M | $1.0M |
| Net income attributable to Travel + Leisure Co. shareholders | $230.0M | $411.0M | $396.0M | $357.0M |
| Continuing operations | $3.51 | $5.39 | $5.24 | $4.27 |
| Basic earnings per share | $3.51 | $5.87 | $5.31 | $4.28 |
| Continuing operations | $3.44 | $5.35 | $5.21 | $4.23 |
| Discontinued operations | $0 | $0.48 | $0.07 | $0.01 |
| Diluted earnings per share | $3.44 | $5.82 | $5.28 | — |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Net revenues | $1.1B | $961.0M | $1.0B | $1.0B |
| Operating | $457.0M | $441.0M | $468.0M | $457.0M |
| Marketing | $172.0M | $142.0M | $162.0M | $152.0M |
| General and administrative | $130.0M | $121.0M | $122.0M | $116.0M |
| Consumer financing interest | $33.0M | $33.0M | $33.0M | $34.0M |
| Depreciation and amortization | $32.0M | $32.0M | $31.0M | $31.0M |
| Cost of vacation ownership interests | $29.0M | $35.0M | $13.0M | $21.0M |
| Restructuring | $0 | ($2.0M) | $0 | — |
| Asset impairments, net | $0 | — | $1.0M | $1.0M |
| Total expenses | $853.0M | $802.0M | $830.0M | $812.0M |
| Operating income | $210.0M | $159.0M | $214.0M | $206.0M |
| Interest expense | $59.0M | $56.0M | $60.0M | $57.0M |
| Other (income), net | ($2.0M) | ($3.0M) | ($1.0M) | ($1.0M) |
| Interest (income) | ($2.0M) | ($2.0M) | ($3.0M) | ($2.0M) |
| Income before income taxes | $155.0M | $108.0M | $158.0M | $152.0M |
| Provision for income taxes | $46.0M | $29.0M | $47.0M | $44.0M |
| Net income attributable to Travel + Leisure Co. shareholders | $109.0M | $79.0M | $111.0M | $108.0M |
| Basic earnings per share | $1.75 | $1.25 | $1.70 | $1.63 |
| Diluted earnings per share | $1.72 | $1.22 | $1.67 | $1.62 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $253.0M | $167.0M | $282.0M | $550.0M |
| Restricted Cash | $173.0M | $162.0M | $176.0M | $138.0M |
| Trade receivables, net | $165.0M | $155.0M | $179.0M | $160.0M |
| Vacation ownership contract receivables, net | $2.6B | $2.6B | $2.5B | $2.4B |
| Inventory | $1.1B | $1.2B | $1.1B | $1.2B |
| Prepaid expenses | $214.0M | $214.0M | $229.0M | $202.0M |
| Property and equipment, net | $531.0M | $591.0M | $655.0M | $658.0M |
| Goodwill | $972.0M | $966.0M | $962.0M | $955.0M |
| Other intangibles, net | $201.0M | $209.0M | $199.0M | $207.0M |
| Other assets | $485.0M | $425.0M | $394.0M | $324.0M |
| Total assets | $6.8B | $6.7B | $6.7B | $6.8B |
| Accounts payable | $62.0M | $67.0M | $73.0M | $65.0M |
| Accrued expenses and other liabilities | $910.0M | $778.0M | $807.0M | $876.0M |
| Deferred income | $468.0M | $457.0M | $442.0M | $399.0M |
| Non-recourse vacation ownership debt (VIE) | $2.1B | $2.1B | $2.1B | $2.0B |
| Debt | $3.5B | $3.5B | $3.6B | $3.7B |
| Deferred income taxes | $704.0M | $722.0M | $687.0M | $679.0M |
| Total liabilities | $7.7B | $7.6B | $7.7B | $7.7B |
| Preferred Stock, Value, Issued | $0 | $0 | $0 | $0 |
| Common Stock, Value, Issued | $3.0M | $2.0M | $2.0M | $2.0M |
| Treasury Stock, Common, Value | $7.7B | $7.4B | — | — |
| Additional paid-in capital | $4.4B | $4.3B | $4.3B | $4.2B |
| Retained earnings | $2.4B | $2.3B | $2.1B | $1.8B |
| Accumulated other comprehensive loss | ($66.0M) | ($112.0M) | ($70.0M) | ($79.0M) |
| Total stockholders’ (deficit) | ($981.0M) | ($881.0M) | ($918.0M) | ($913.0M) |
| Noncontrolling interest | ($1.0M) | $1.0M | $1.0M | $9.0M |
| Total (deficit) | ($982.0M) | ($880.0M) | ($917.0M) | ($904.0M) |
| Total liabilities and (deficit) | $6.8B | $6.7B | $6.7B | $6.8B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $282.0M | $254.0M | $240.0M | $212.0M |
| Restricted cash (VIE - $86 as of 2026 and $87 as of 2025) | $189.0M | $202.0M | $174.0M | $175.0M |
| Trade receivables, net | $152.0M | $152.0M | $173.0M | $175.0M |
| Vacation ownership contract receivables, net (VIE - $2,162 as of 2026 and $2,281 as of 2025) | $2.6B | $2.6B | $2.6B | $2.6B |
| Inventory | $1.2B | $1.2B | $1.3B | $1.3B |
| Prepaid expenses | $264.0M | $265.0M | $230.0M | $244.0M |
| Property and equipment, net | $524.0M | $523.0M | $597.0M | $592.0M |
| Goodwill | $972.0M | $971.0M | $971.0M | $972.0M |
| Other intangibles, net | $197.0M | $200.0M | $204.0M | $208.0M |
| Other assets | $548.0M | $481.0M | $442.0M | $411.0M |
| Total assets | $6.9B | $6.8B | $6.9B | $6.8B |
| Accounts payable | $59.0M | $63.0M | $66.0M | $69.0M |
| Accrued expenses and other liabilities | $957.0M | $836.0M | $817.0M | $778.0M |
| Deferred income | $462.0M | $478.0M | $489.0M | $483.0M |
| Non-recourse vacation ownership debt (VIE) | $2.0B | $2.1B | $2.0B | $2.0B |
| Debt | $3.7B | $3.6B | $3.6B | $3.6B |
| Deferred income taxes | $728.0M | $732.0M | $763.0M | $745.0M |
| Total liabilities | $7.9B | $7.9B | $7.7B | $7.7B |
| Preferred stock, $0.01 par value, authorized 6,000,000 shares, none issued and outstanding | 0 | 0 | 0 | 0 |
| Common stock, $0.01 par value, 600,000,000 shares authorized, 226,628,187 issued as of 2026 and 225,937,948 as of 2025 | 3.0M | 3.0M | 3.0M | 3.0M |
| Treasury stock, at cost – 165,346,102 shares as of 2026 and 162,880,360 shares as of 2025 | -7.9B | -7.8B | -7.6B | 7.6B |
| Additional paid-in capital | $4.4B | $4.4B | $4.4B | $4.3B |
| Retained earnings | $2.5B | $2.5B | $2.5B | $2.4B |
| Accumulated other comprehensive loss | ($64.0M) | ($63.0M) | ($69.0M) | ($66.0M) |
| Total stockholders’ (deficit) | ($1.0B) | ($1.0B) | ($821.0M) | ($852.0M) |
| Noncontrolling interest | ($1.0M) | ($1.0M) | $0 | ($1.0M) |
| Total (deficit) | ($1.0B) | ($1.0B) | ($821.0M) | ($853.0M) |
| Total liabilities and (deficit) | $6.9B | $6.8B | $6.9B | $6.8B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income attributable to Travel + Leisure Co. shareholders | $230.0M | $411.0M | $396.0M | $357.0M |
| Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | $0 | ($33.0M) | ($5.0M) | ($1.0M) |
| Provision for loan losses | $484.0M | $432.0M | $348.0M | $302.0M |
| Inventory write-downs and impairments | $216.0M | $3.0M | $0 | $10.0M |
| Depreciation and amortization | $124.0M | $115.0M | $112.0M | $119.0M |
| Stock-based compensation | $57.0M | $41.0M | $38.0M | $45.0M |
| Non-cash interest | $24.0M | $25.0M | $22.0M | $19.0M |
| Non-cash lease expense | $13.0M | $12.0M | $16.0M | $16.0M |
| Asset impairments, net | $10.0M | — | — | — |
| Loss on sale of business | $0 | $0 | $2.0M | — |
| Deferred income taxes | ($21.0M) | $26.0M | $8.0M | ($4.0M) |
| Other, net | ($8.0M) | ($1.0M) | ($3.0M) | $8.0M |
| Trade receivables | $3.0M | $35.0M | ($18.0M) | ($28.0M) |
| Vacation ownership contract receivables | ($503.0M) | ($549.0M) | ($504.0M) | ($373.0M) |
| Inventory | ($68.0M) | ($16.0M) | $25.0M | $31.0M |
| Prepaid expenses | $2.0M | $14.0M | ($27.0M) | $23.0M |
| Other assets | ($24.0M) | ($42.0M) | ($20.0M) | ($23.0M) |
| Accounts payable, accrued expenses, and other liabilities | $96.0M | ($19.0M) | ($70.0M) | ($71.0M) |
| Deferred income | $5.0M | $10.0M | $30.0M | $12.0M |
| Net cash provided by operating activities | $640.0M | $464.0M | $350.0M | $442.0M |
| Property and equipment additions | ($117.0M) | ($81.0M) | ($74.0M) | ($52.0M) |
| Proceeds from sale of investments | $21.0M | — | — | — |
| Payments to Acquire Investments | ($19.0M) | — | — | — |
| Acquisitions, net of cash acquired | ($1.0M) | ($44.0M) | ($6.0M) | ($2.0M) |
| Proceeds from sale of assets | $10.0M | $1.0M | $0 | $8.0M |
| Other, net | ($1.0M) | ($1.0M) | $0 | $1.0M |
| Net cash used in investing activities - continuing operations | ($107.0M) | ($125.0M) | ($80.0M) | ($45.0M) |
| Net cash provided by investing activities - discontinued operations | $0 | $1.0M | $0 | ($5.0M) |
| Net cash used in investing activities | ($107.0M) | ($124.0M) | ($80.0M) | ($50.0M) |
| Proceeds from non-recourse vacation ownership debt | $1.7B | $1.8B | $1.9B | $1.6B |
| Principal payments on non-recourse vacation ownership debt | ($1.7B) | ($1.7B) | ($1.8B) | ($1.6B) |
| Proceeds from debt, notes issued, and term loans | $2.7B | — | — | — |
| Principal payments on debt, notes, and term loans | ($2.7B) | — | — | — |
| Repurchase of common stock | ($301.0M) | ($234.0M) | ($309.0M) | ($351.0M) |
| Dividends to shareholders | ($149.0M) | ($142.0M) | ($136.0M) | ($135.0M) |
| Debt issuance/modification costs | ($27.0M) | ($20.0M) | ($22.0M) | ($19.0M) |
| Net share settlement of incentive equity awards | ($14.0M) | ($9.0M) | ($10.0M) | ($7.0M) |
| Payment of deferred acquisition consideration | $0 | ($9.0M) | ($14.0M) | ($19.0M) |
| Repayments of vacation ownership inventory arrangement | $0 | $0 | ($6.0M) | ($6.0M) |
| Proceeds from vacation ownership inventory arrangement | $25.0M | — | — | — |
| Proceeds from issuance of common stock | $34.0M | $15.0M | $9.0M | $10.0M |
| Net cash used in financing activities | ($443.0M) | ($458.0M) | ($500.0M) | ($196.0M) |
| Effect of changes in exchange rates on cash, cash equivalents and restricted cash | $7.0M | ($11.0M) | $0 | ($5.0M) |
| Net change in cash, cash equivalents and restricted cash | $97.0M | ($129.0M) | ($230.0M) | $191.0M |
| Cash, cash equivalents and restricted cash, beginning of period | $329.0M | $458.0M | $688.0M | $497.0M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $188.0M | $79.0M | $291.0M | $181.0M |
| Provision for loan losses | $241.0M | $100.0M | $365.0M | $219.0M |
| Depreciation and amortization | $64.0M | $32.0M | $92.0M | $61.0M |
| Stock-based compensation | $28.0M | $13.0M | $38.0M | $26.0M |
| Inventory write-downs and impairments | $25.0M | $19.0M | $8.0M | $1.0M |
| Deferred income taxes | $24.0M | $29.0M | $41.0M | $23.0M |
| Non-cash interest | $12.0M | $6.0M | $18.0M | $12.0M |
| Non-cash lease expense | $6.0M | $3.0M | $10.0M | $7.0M |
| Asset impairments, net | $0 | — | — | — |
| Other, net | ($5.0M) | ($5.0M) | ($2.0M) | ($2.0M) |
| Trade receivables | $17.0M | $18.0M | ($5.0M) | ($14.0M) |
| Vacation ownership contract receivables | ($189.0M) | ($68.0M) | ($340.0M) | ($161.0M) |
| Inventory | ($75.0M) | ($78.0M) | ($41.0M) | ($16.0M) |
| Prepaid expenses | ($49.0M) | ($49.0M) | ($13.0M) | ($27.0M) |
| Other assets | ($25.0M) | $27.0M | $13.0M | $18.0M |
| Accounts payable, accrued expenses, and other liabilities | $3.0M | ($98.0M) | $14.0M | $5.0M |
| Deferred income | ($7.0M) | $10.0M | $27.0M | $20.0M |
| Net cash provided by operating activities | $258.0M | $38.0M | $516.0M | $353.0M |
| Property and equipment additions | ($44.0M) | ($19.0M) | ($85.0M) | ($58.0M) |
| Purchase of investments | ($13.0M) | ($8.0M) | ($10.0M) | $4.0M |
| Proceeds from the sale of investments | $13.0M | $9.0M | $18.0M | $15.0M |
| Acquisitions, net of cash acquired | $0 | $0 | ($1.0M) | ($1.0M) |
| Net cash used in investing activities | ($44.0M) | ($18.0M) | ($78.0M) | ($48.0M) |
| Proceeds from non-recourse vacation ownership debt | $748.0M | $536.0M | $1.2B | $644.0M |
| Principal payments on non-recourse vacation ownership debt | ($867.0M) | ($555.0M) | ($1.3B) | ($816.0M) |
| Proceeds from debt, notes issued, and term loans | $2.3B | $812.0M | — | — |
| Principal payments on debt, notes, and term loans | ($2.1B) | ($640.0M) | — | — |
| Repurchase of common stock | ($175.0M) | ($87.0M) | ($211.0M) | ($140.0M) |
| Dividends paid to shareholders | ($78.0M) | ($41.0M) | ($114.0M) | ($78.0M) |
| Net share settlement of incentive equity awards | ($17.0M) | ($16.0M) | ($14.0M) | ($13.0M) |
| Debt issuance/modification costs | ($15.0M) | ($6.0M) | ($22.0M) | ($12.0M) |
| Proceeds from issuance of common stock | $11.0M | $4.0M | $27.0M | ($7.0M) |
| Other, net | $0 | $0 | — | $1.0M |
| Net cash used in financing activities | ($172.0M) | $7.0M | ($360.0M) | ($255.0M) |
| Effect of changes in exchange rates on cash, cash equivalents and restricted cash | $3.0M | $3.0M | $7.0M | $8.0M |
| Net change in cash, cash equivalents and restricted cash | $45.0M | $30.0M | $85.0M | $58.0M |
| Cash, cash equivalents and restricted cash, beginning of period | $426.0M | $426.0M | $329.0M | $329.0M |
| Cash, cash equivalents and restricted cash, end of period | $471.0M | $456.0M | $414.0M | $387.0M |
| Less: Restricted cash | $189.0M | $202.0M | $174.0M | $175.0M |
| Cash and cash equivalents | $282.0M | $254.0M | $240.0M | $212.0M |
Travel+Leisure Co. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.