Travel + Leisure vs Wyndham Hotels & Resorts
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KIRA’s take AI analyst
I put Travel + Leisure and Wyndham Hotels & Resorts side by side, using each one’s latest annual report. Here is what stands out:
- Travel + Leisure is the larger business, with $4.0B of revenue in fiscal 2025 against $1.4B for Wyndham Hotels & Resorts, about 2.8 times as much.
- Travel + Leisure grew revenue faster (4.1%, against 1.5%).
- Wyndham Hotels & Resorts kept more of each dollar of sales as operating profit (28.1% operating margin, against 13.8%).
- Wyndham Hotels & Resorts turned more of its sales into free cash flow (22.5% FCF margin, against 13.0%).
- Wyndham Hotels & Resorts earned a higher return on the capital invested in it (9.9%, against 8.5%).
- Investors pay more for each dollar of Wyndham Hotels & Resorts’s earnings: a P/E of 26.5x against 17.7x for Travel + Leisure.
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Travel + Leisure
TNL
3/8
Revenue growth5-year growthShare count change
Wyndham Hotels & Resorts
WH
5/8
Operating marginNet marginFCF marginReturn on capitalNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | TNL FY25 | WH FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.2B | $5.4B |
| Revenue | $4.0B | $1.4B |
| Free cash flow | $523M | $321M |
| Net income | $230M | $193M |
| Growth | ||
| Revenue growth | 4.1% | 1.5% |
| 5-year growth | 13.2% | 1.9% |
| Share count change | −5.4% | −3.6% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 13.8% | 28.1% |
| Net margin | 5.7% | 13.5% |
| FCF margin | 13.0% | 22.5% |
| Return on capital | 8.5% | 9.9% |
| Return on equity | — | 34.5% |
| Balance sheet | ||
| Net debt | $5.3B | $2.5B |
| Net debt / EBITDA | 7.9x | 5.4x |
| Dividends and buybacks | $450M | $393M |
| Valuation & quality | ||
| P/E | 17.7x | 26.5x |
| Piotroski F-score | — | 4 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.