Travel & Leisure Co.
In the published model solve dated 2026-Q2, anchored at $77.90, Travel & Leisure Co. (TNL) is priced for +1.7% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 11, 2026 from SEC EDGAR filings.
• Travel + Leisure is a timeshare and travel-club operator that converts vacation contracts into $442M of trailing free cash flow, nearly double reported net income, and returned $467M to shareholders over the past year on a $4.78B market value. • The defining risk is the capital structure meeting the consumer: interest costs absorb a large bite of operating income (coverage of roughly 2.4 times), while the FY2025 10-K acknowledges ⟦"delinquencies remaining elevated over historical levels"⟧ in t
Is TNL overvalued? See what's priced in →
460 institutional managers reported holding TNL in 13F filings for the quarter ended 2026-03-31. Together they hold about 91% of the company; the top 10 hold 47%. 71 opened new positions that quarter. Held by Vanguard Group, BlackRock, Invesco, among others. On the short side, 5.0M shares were sold short as of the 2026-06-15 count, about 8% of shares outstanding (4.8 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
TNL has cut its share count 27.3% over the past five years, spending $1.31B on repurchases. It pays a dividend, and has paid one every year in our records (17 and counting), raised 4 years straight; the current rate is $2.24 a share annually. Cash returned over the past three years: $397.00M in dividends and $730.00M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at TNL over the trailing three years: 2023: 1 buy totaling $33k; 2025: 2 buys totaling $181k. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
TNL's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-04-27 | -3.7% | +7.2% |
| 2023-07-27 | -3.8% | -6.9% |
| 2023-10-26 | -1.7% | +20.5% |
| 2024-04-25 | -0.8% | -4.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
TNL's latest 8-K filings: 2026-07-22 (items 2.02, 7.01, 9.01); 2026-05-22 (items 5.07, 9.01); 2026-05-20 (items 1.01, 2.03, 8.01, 9.01); 2026-05-11 (items 8.01, 9.01); 2026-04-22 (items 2.02, 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.