Travel & Leisure annual free cash flow
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2025
Travel & Leisure Free Cash Flow (FCF) History (TNL)
Travel & Leisure reported $523.0M in free cash flow for fiscal 2025, an increase of 36.55% from the previous fiscal year, with a free cash flow margin of 13.01%.
View full Travel & Leisure company overviewTravel & Leisure free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $523.0M | $140.0M | +36.55% | +13.01% |
| 2024 | 2024-12-31 | $383.0M | $107.0M | +38.77% | +9.91% |
| 2023 | 2023-12-31 | $276.0M | −$114.0M | −29.23% | +7.36% |
| 2022 | 2022-12-31 | $390.0M | −$121.0M | −23.68% | +10.93% |
| 2021 | 2021-12-31 | $511.0M | $206.0M | +67.54% | +16.31% |
| 2020 | 2020-12-31 | $305.0M | −$39.0M | −11.34% | +14.12% |
| 2019 | 2019-12-31 | $344.0M | $1.0M | +0.29% | +8.51% |
| 2018 | 2018-12-31 | $343.0M | −$536.0M | −60.98% | +8.73% |
| 2017 | 2017-12-31 | $879.0M | $33.0M | +3.90% | +23.10% |
| 2016 | 2016-12-31 | $846.0M | $44.0M | +5.49% | +22.91% |
| 2015 | 2015-12-31 | $802.0M | $53.0M | +7.08% | +16.44% |
| 2014 | 2014-12-31 | $749.0M | −$21.0M | −2.73% | +14.18% |
| 2013 | 2013-12-31 | $770.0M | −$26.0M | −3.27% | +15.37% |
| 2012 | 2012-12-31 | $796.0M | $32.0M | +4.19% | +17.56% |
| 2011 | 2011-12-31 | $764.0M | $296.0M | +63.25% | +17.96% |
| 2010 | 2010-12-31 | $468.0M | −$86.0M | −15.52% | +12.15% |
| 2009 | 2009-12-31 | $554.0M | $632.0M | — | +14.77% |
| 2008 | 2008-12-31 | −$78.0M | — | — | −1.82% |
Travel & Leisure quarterly free cash flow
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| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $195.0M | $0 | 0.00% | +18.34% |
| Q1 2026 | 2026-03-31 | $19.0M | −$81.0M | −81.00% | +1.98% |
| Q4 2025 | 2025-12-31 | $92.0M | $17.0M | +22.67% | +8.98% |
| Q3 2025 | 2025-09-30 | $136.0M | $11.0M | +8.80% | +13.03% |
| Q2 2025 | 2025-06-30 | $195.0M | $42.0M | +27.45% | +19.16% |
| Q1 2025 | 2025-03-31 | $100.0M | $70.0M | +233.33% | +10.71% |
| Q4 2024 | 2024-12-31 | $75.0M | −$45.0M | −37.50% | +7.73% |
| Q3 2024 | 2024-09-30 | $125.0M | $51.0M | +68.92% | +12.59% |
| Q2 2024 | 2024-06-30 | $153.0M | $66.0M | +75.86% | +15.53% |
| Q1 2024 | 2024-03-31 | $30.0M | $35.0M | — | +3.28% |
| Q4 2023 | 2023-12-31 | $120.0M | −$39.0M | −24.53% | +12.82% |
| Q3 2023 | 2023-09-30 | $74.0M | $49.0M | +196.00% | +7.51% |
| Q2 2023 | 2023-06-30 | $87.0M | $12.0M | +16.00% | +9.17% |
| Q1 2023 | 2023-03-31 | −$5.0M | −$136.0M | — | −0.57% |
| Q4 2022 | 2022-12-31 | $159.0M | $43.0M | +37.07% | +17.69% |
| Q3 2022 | 2022-09-30 | $25.0M | −$105.0M | −80.77% | +2.67% |
| Q2 2022 | 2022-06-30 | $75.0M | −$124.0M | −62.31% | +8.13% |
| Q1 2022 | 2022-03-31 | $131.0M | $65.0M | +98.48% | +16.19% |
| Q4 2021 | 2021-12-31 | $116.0M | −$21.0M | −15.33% | +13.33% |
| Q3 2021 | 2021-09-30 | $130.0M | $53.0M | +68.83% | +15.49% |
| Q2 2021 | 2021-06-30 | $199.0M | $144.0M | +261.82% | +24.97% |
| Q1 2021 | 2021-03-31 | $66.0M | $30.0M | +83.33% | +10.51% |
| Q4 2020 | 2020-12-31 | $137.0M | $38.0M | +38.38% | +21.24% |
| Q3 2020 | 2020-09-30 | $77.0M | $47.0M | +156.67% | +12.54% |
| Q2 2020 | 2020-06-30 | $55.0M | −$28.0M | −33.73% | +16.03% |
| Q1 2020 | 2020-03-31 | $36.0M | −$96.0M | −72.73% | +6.45% |
| Q4 2019 | 2019-12-31 | $99.0M | $48.0M | +94.12% | +10.09% |
| Q3 2019 | 2019-09-30 | $30.0M | $2.0M | +7.14% | +2.71% |
| Q2 2019 | 2019-06-30 | $83.0M | −$62.0M | −42.76% | +7.99% |
| Q1 2019 | 2019-03-31 | $132.0M | $13.0M | +10.92% | +14.38% |
| Q4 2018 | 2018-12-31 | $51.0M | −$240.0M | −82.47% | +5.34% |
| Q3 2018 | 2018-09-30 | $28.0M | $51.0M | — | +2.64% |
| Q2 2018 | 2018-06-30 | $145.0M | −$256.0M | −63.84% | +14.40% |
| Q1 2018 | 2018-03-31 | $119.0M | −$91.0M | −43.33% | +13.12% |
| Q4 2017 | 2017-12-31 | $291.0M | $133.0M | +84.18% | +44.16% |
| Q3 2017 | 2017-09-30 | −$23.0M | −$57.0M | — | −2.27% |
| Q2 2017 | 2017-06-30 | $401.0M | $3.0M | +0.75% | +41.00% |
| Q1 2017 | 2017-03-31 | $210.0M | −$8.0M | −3.67% | +18.20% |
| Q4 2016 | 2016-12-31 | $158.0M | $16.0M | +11.27% | — |
| Q3 2016 | 2016-09-30 | $34.0M | −$1.0M | −2.86% | +2.16% |
| Q2 2016 | 2016-06-30 | $398.0M | −$30.0M | −7.01% | +28.37% |
| Q1 2016 | 2016-03-31 | $218.0M | $21.0M | +10.66% | +16.73% |
| Q4 2015 | 2015-12-31 | $142.0M | $143.0M | — | +21.71% |
| Q3 2015 | 2015-09-30 | $35.0M | −$20.0M | −36.36% | +2.24% |
| Q2 2015 | 2015-06-30 | $428.0M | $2.0M | +0.47% | +30.62% |
| Q1 2015 | 2015-03-31 | $197.0M | −$72.0M | −26.77% | +15.61% |
| Q4 2014 | 2014-12-31 | −$1.0M | −$66.0M | — | −0.08% |
| Q3 2014 | 2014-09-30 | $55.0M | $4.0M | +7.84% | +3.63% |
| Q2 2014 | 2014-06-30 | $426.0M | $5.0M | +1.19% | +31.72% |
| Q1 2014 | 2014-03-31 | $269.0M | $36.0M | +15.45% | +22.55% |
| Q4 2013 | 2013-12-31 | $65.0M | −$46.0M | −41.44% | +5.43% |
| Q3 2013 | 2013-09-30 | $51.0M | −$65.0M | −56.03% | +3.57% |
| Q2 2013 | 2013-06-30 | $421.0M | $47.0M | +12.57% | +33.60% |
| Q1 2013 | 2013-03-31 | $233.0M | $38.0M | +19.49% | +20.56% |
| Q4 2012 | 2012-12-31 | $111.0M | $54.0M | +94.74% | +10.15% |
| Q3 2012 | 2012-09-30 | $116.0M | $9.0M | +8.41% | +9.17% |
| Q2 2012 | 2012-06-30 | $374.0M | −$38.0M | −9.22% | +32.84% |
| Q1 2012 | 2012-03-31 | $195.0M | $7.0M | +3.72% | +18.82% |
| Q4 2011 | 2011-12-31 | $57.0M | $17.0M | +42.50% | +5.70% |
| Q3 2011 | 2011-09-30 | $107.0M | $173.0M | — | +8.83% |
| Q2 2011 | 2011-06-30 | $412.0M | $87.0M | +26.77% | +37.80% |
| Q1 2011 | 2011-03-31 | $188.0M | $19.0M | +11.24% | +19.75% |
| Q4 2010 | 2010-12-31 | $40.0M | −$48.0M | −54.55% | +4.27% |
| Q3 2010 | 2010-09-30 | −$66.0M | — | — | −6.20% |
| Q2 2010 | 2010-06-30 | $325.0M | — | — | +33.75% |
| Q1 2010 | 2010-03-31 | $169.0M | — | — | +19.07% |
| Q3 2009 | 2009-09-30 | $88.0M | — | — | +8.66% |
Travel & Leisure free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $305.0M to $523.0M, a compound annual growth rate of 11.39%. Travel & Leisure's latest reported quarter, Q2 2026, generated $195.0M in free cash flow, unchanged year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Travel & Leisure filings at SEC.gov ↗