What is Travel & Leisure Co. worth?
With the base-case assumptions below, a discounted cash flow model on Travel & Leisure Co.'s reported free cash flow gives $144.01 per share. The share price was $80.35 on November 10, 2026, 44% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 8.0% | 10.0% | $54.06 | -33% |
| Base | 13.0% | 9.0% | $144.01 | +79% |
| Bull | 18.0% | 8.0% | $311.65 | +288% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $211.42 | $232.35 | $257.94 | $289.91 | $331.03 |
| 8.0% | $160.85 | $174.43 | $190.47 | $209.72 | $233.24 |
| 9.0% | $124.03 | $133.31 | $144.01 | $156.51 | $171.27 |
| 10.0% | $96.08 | $102.68 | $110.15 | $118.70 | $128.57 |
| 11.0% | $74.18 | $79.02 | $84.43 | $90.51 | $97.41 |
Where the presets come from
Base: years 1 to 5 grow at Travel & Leisure Co.'s revenue growth rate over the last 5 fiscal years (13.2% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions