Travel + Leisure Co (TNL)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 490,000 | 487,000 | 424,000 | -278,000 | 698,000 |
| Revenue | US$ in thousands | 3,750,000 | 3,567,000 | 3,134,000 | 2,160,000 | 4,043,000 |
| Pretax margin | 13.07% | 13.65% | 13.53% | -12.87% | 17.26% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $490,000K ÷ $3,750,000K
= 13.07%
The pretax margin of Travel+Leisure Co has shown some fluctuation over the past five years. In 2023, the pretax margin decreased to 12.93% from 13.68% in 2022. This indicates that the company's profitability before considering taxes declined slightly. Comparing to 2021, the pretax margin remained relatively stable at 13.69%. However, in 2020, the company experienced a significant drop in profitability, with a negative pretax margin of -12.78%, which may have been due to exceptional circumstances or significant one-time expenses. Prior to that, in 2019, Travel+Leisure Co achieved a higher pretax margin of 16.82%, reflecting better profitability levels. Overall, the trend in pretax margin suggests some variability in the company's ability to generate profits before taxes, with 2020 serving as an outlier in an otherwise relatively stable performance.
Peer comparison
Dec 31, 2023