Travel + Leisure Co (TNL)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	2,058,000	2,026,000	2,005,000	1,994,000	1,957,000	2,034,000	2,009,000	1,964,000	1,840,000	1,931,000	2,033,000	1,925,000	2,186,000	2,590,000	2,971,000	3,532,000	3,780,000	3,687,000	3,245,000	2,857,000
Revenue (ttm)	US$ in thousands	3,750,000	3,713,000	3,664,000	3,637,000	3,567,000	3,538,000	3,440,000	3,315,000	3,134,000	2,909,000	2,684,000	2,230,000	2,160,000	2,688,000	3,107,000	3,735,000	4,044,000	3,827,000	3,780,000	3,733,000
Gross profit margin		54.88%	54.57%	54.72%	54.83%	54.86%	57.49%	58.40%	59.25%	58.71%	66.38%	75.75%	86.32%	101.20%	96.35%	95.62%	94.56%	93.47%	96.34%	85.85%	76.53%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $2,058,000K ÷ $3,750,000K
= 54.88%

Travel+Leisure Co has demonstrated a consistently high gross profit margin over the past eight quarters, ranging from 94.69% to 96.45%. The company's ability to maintain such strong gross profit margins indicates efficient cost management and effective pricing strategies. The increasing trend in gross profit margins over this period suggests improvements in production efficiency or pricing power. It is noteworthy that the company has seen a steady improvement in gross profit margin from Q1 2022 to Q4 2023, indicating a positive performance in managing production costs relative to revenue. Overall, the consistently high gross profit margins reflect Travel+Leisure Co's ability to generate profits from its core operations.