Sabre vs Travel + Leisure
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KIRA’s take AI analyst
I put Sabre and Travel + Leisure 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 $2.8B for Sabre.
- Travel + Leisure grew revenue faster (4.1%, against 1.0%).
- Travel + Leisure kept more of each dollar of sales as operating profit (13.8% operating margin, against 10.7%).
- Travel + Leisure turned more of its sales into free cash flow (13.0% FCF margin, against −6.9%).
- Investors pay more for each dollar of Travel + Leisure’s earnings: a P/E of 17.7x against 1.0x for Sabre.
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Sabre
SABR
3/8
5-year growthNet marginReturn on capital
Travel + Leisure
TNL
5/8
Revenue growthOperating marginFCF marginNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | SABR FY25 | TNL FY25 |
|---|---|---|
| Size | ||
| Market cap | $655M | $4.2B |
| Revenue | $2.8B | $4.0B |
| Free cash flow | −$192M | $523M |
| Net income | $525M | $230M |
| Growth | ||
| Revenue growth | 1.0% | 4.1% |
| 5-year growth | 15.7% | 13.2% |
| Share count change | 2.1% | −5.4% |
| Profitability | ||
| Gross margin | 56.4% | — |
| Operating margin | 10.7% | 13.8% |
| Net margin | 18.9% | 5.7% |
| FCF margin | −6.9% | 13.0% |
| Return on capital | 8.9% | 8.5% |
| Return on equity | — | — |
| Balance sheet | ||
| Net debt | $3.6B | $5.3B |
| Net debt / EBITDA | 8.9x | 7.9x |
| Dividends and buybacks | $0.0M | $450M |
| Valuation & quality | ||
| P/E | 1.0x | 17.7x |
| Piotroski F-score | 5 | — |
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.