Travel + Leisure Co (TNL)
Pretax 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 491,000 | 484,000 | 498,000 | 500,000 | 488,000 | 515,000 | 493,000 | 464,000 | 425,000 | 311,000 | 190,000 | -66,000 | -279,000 | -74,000 | 88,000 | 409,000 | 698,000 | 590,000 | 608,000 | 856,000 |
| 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 |
| Pretax margin | 13.09% | 13.04% | 13.59% | 13.75% | 13.68% | 14.56% | 14.33% | 14.00% | 13.56% | 10.69% | 7.08% | -2.96% | -12.92% | -2.75% | 2.83% | 10.95% | 17.26% | 15.42% | 16.08% | 22.93% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $491,000K ÷ $3,750,000K
= 13.09%
Travel+Leisure Co's pretax margin has fluctuated throughout the quarters of the past two years. In Q1 2023, the pretax margin was 13.78%, showing a slight decrease from the previous quarter's 13.48%. This downward trend continued in Q2 2023 with a pretax margin of 12.93%. However, there was no change in Q3 2023 as the pretax margin remained at 12.93%. Comparing these figures to the same quarters in the previous year, we see a general decline in pretax margin over time. The company experienced the highest pretax margin in Q3 2022 at 14.67%, followed by a decrease in Q4 2022 to 13.68%. This downward trend continued in Q1 2022 and Q2 2022, with pretax margins of 14.45% and 14.18%, respectively. Overall, Travel+Leisure Co appears to be facing some challenges in maintaining its pretax margin stability over the past few quarters.
Peer comparison
Dec 31, 2023